Document:

First Amendment, dated as of September 13, 2012

 Exhibit 10.2 
 FIRST AMENDMENT 
 TO FIVE-YEAR CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO FIVE-YEAR CREDIT AGREEMENT (this “Amendment”) is entered into as of September 13, 2012,
among METLIFE, INC. and METLIFE FUNDING, INC. (collectively, the “Borrowers”), and the LENDERS (hereinafter defined), and is acknowledged by BANK OF AMERICA, N.A., as Administrative Agent (the
“Administrative Agent”) for the Lenders. 
 R E C I T A L S 

A. The Borrowers entered into the Five-Year Credit Agreement dated as of August 12, 2011 (the “Agreement”), with
the Lenders (the “Lenders”) party thereto and Bank of America, N.A., as Administrative Agent, Fronting L/C Issuer and Several L/C Agent for the Lenders. Unless otherwise indicated herein, all capitalized terms used herein shall have
the meaning set forth in the Agreement and all Section and Schedule references herein are to sections and schedules in the Agreement. 
 B. The Borrowers have requested that the Agreement be amended in certain respects and the Lenders have agreed to amend the Agreement as set forth herein. 

In consideration of the foregoing and the mutual covenants contained herein, the Borrowers, the Lenders and the Administrative Agent
agree and acknowledge as follows: 
 1. Amendments. 

(a) The definition of “Change in Control” set forth in Section 1.01 of the Agreement is amended by replacing the
reference to “25%” with “35%”. 
 (b) The definition of “ERISA Event” set forth in
Section 1.01 of the Agreement is amended by deleting the reference to “, as in existence on June 20, 2011”. 
 (c) The definition of “Excluded Taxes” set forth in Section 1.01 of the Agreement is amended by (i) replacing the reference in clause (b) to “Person” with
“recipient”; (ii) replacing the reference in clause (d) to “a Lender’s” with “such recipient’s”; and (iii) amending clause (f) to read in its entirety as follows: 

“any Taxes imposed by the United States of America as a result of the failure of such recipient to comply with the applicable
requirements of FATCA.” 
 (d) The definition of “Issuer Documents” set forth in Section 1.01 of the
Agreement is amended to read in its entirety as follows: 
 ““Issuer Documents” means with
respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the Fronting L/C Issuer, the Several L/C Agent or any Limited Fronting Lender, as applicable, and a Borrower (and, if
applicable, any Subsidiary as an Applicant) or in favor of the Fronting L/C Issuer, the Several L/C Agent or such Limited Fronting Lender, as applicable, and relating to any such Letter of Credit.” 

  

					
		 	1	 	First Amendment

 (e) The definition of “Limited Fronting Lender” set forth in
Section 1.01 of the Agreement is amended by inserting “in writing with the Borrowers” immediately following the reference to “agrees” in clause (b)(ii). 

(f) The definition of “Revaluation Date” set forth in Section 1.01 of the Agreement is amended to read in its
entirety as follows: 
 ““Revaluation Date” means, with respect to any Fronted Letter of
Credit denominated in the Alternative Currency, each of the following: (i) each date of issuance of any Fronted Letter of Credit denominated in the Alternative Currency, (ii) each date of an amendment of any Fronted Letter of Credit
denominated in the Alternative Currency having the effect of increasing the amount thereof (solely with respect to the increased amount), (iii) each date of any payment by the Fronting L/C Issuer under any Letter of Credit denominated in the
Alternative Currency, (iv) each date on which fees are calculated or payable pursuant to Sections 2.03 (i) or (j), and (v) each other date on which the Fronting L/C Issuer or the Administrative Agent, as applicable,
may determine in its good faith discretion that the provisions of Sections 2.04(b) or (c) may be applicable.” 
 (g) The definition of “Spot Rate” set forth in Section 1.01 of the Agreement is amended to read in its entirety as follows: 

““Spot Rate” for a currency (the “first currency”) means, on any day, the spot fix rate
for bids at which the first currency may be purchased with another currency (the “second currency”), at 11:00 a.m., New York time, on such date as published by The WM Company on Bloomberg or Reuters. In the event that such rate is not
published by The WM Company, the Spot Rate with respect to the first currency shall be determined by reference to such other publicly available service for displaying spot fix exchange rates as may be reasonably selected by the Administrative Agent,
or, in the event no such service is selected, such Spot Rate shall instead be calculated on the basis of the arithmetical mean of the buy and sell spot rates of exchange of the Administrative Agent, for the first currency on the London market at
4:00 p.m., London time, on such date for the purchase of the first currency with the second currency, for delivery two Business Days later; provided, that if at the time of any such determination, for any reason, no such spot rate is being
quoted, the Administrative Agent, after consultation with the Borrowers, may use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest error.” 

(h) The definition of “Three Year Credit Agreement” set forth in Section 1.01 of the Agreement is amended to read
in its entirety as follows: 
 ““Three Year Credit Agreement” means the Three-Year Credit
Agreement dated as of October 15, 2010, by and among Borrowers, the lenders party thereto from time to time, and Bank of America, N.A., as administrative agent, fronting letter of credit issuer and several letter of credit agent, as amended and
restated by the Five-Year Credit Agreement dated as of September 13, 2012, by and among Borrowers, the lenders party thereto from time to time, and Bank of America, N.A., as administrative agent, fronting letter of credit issuer and several
letter of credit agent, and as the same may otherwise be amended, amended and restated, supplemented or otherwise modified from time to time.” 
 (i) The first sentence of Section 2.01 of the Agreement is amended by inserting “in Dollars and” immediately following the reference to “Availability Period,”. 

  

					
		 	2	 	First Amendment

 (j) The third sentence of Section 2.03(c)(i) of the Agreement is amended to read
in its entirety as follows: 
 “In the case of any such reimbursement in Dollars of a drawing under a Fronted Letter of
Credit denominated in the Alternative Currency, (A) the amount of such reimbursement shall be equal to the Dollar Equivalent of the amount of such drawing, determined and calculated as of the date of such reimbursement and (B) the Fronting
L/C Issuer shall notify the applicable Borrower of such Dollar Equivalent promptly following the determination thereof.” 

(k) Section 2.03(g) of the Agreement is amended by inserting “(and from time to time thereafter, but no more often than
once every thirty days, in the event of subsequent currency fluctuations)” immediately following the reference to “Maturity Date”. 
 (l) The penultimate sentence of Section 2.04(a) of the Agreement is amended by inserting a proviso at the end of such sentence, which reads in its entirety as follows: 

“; provided, that a notice of prepayment may state that such notice is conditioned upon the occurrence of one or more events
specified therein, in which case such notice may be revoked by such Borrower (by notice to the Administrative Agent on or prior to the specified date of prepayment) if such condition is not satisfied.” 

(m) Section 2.04(b) of the Agreement is amended by inserting “(including currency fluctuations)” immediately
following the reference to “If for any reason”. 
 (n) Section 2.04(c) of the Agreement is relettered as
“Section 2.04(d)” and a new Section 2.04(c) is added to the Agreement, which reads in its entirety as follows: 
 “(c) Without limiting clause (z) of the first proviso of Section 2.03(a)(i), if, as a result of currency fluctuations, the Outstanding Amount of L/C Obligations issued by the
Fronting L/C Issuer (except in its capacity as a Limited Fronting Lender) and denominated in the Alternative Currency at any time exceeds 105% of the Alternative Currency Sublimit (but not, for the avoidance of doubt, for any excess less than or
equal to 105% of the Alternative Currency Sublimit), the applicable Borrower shall, at the request of the Fronting L/C Issuer and within two Business Days after such request, either: (i) Cash Collateralize the amount of such excess above the
Alternative Currency Sublimit; or (ii) cause one or more of the outstanding Letters of Credit to be cancelled, in either case so that such excess above the Alternative Currency Sublimit is eliminated.” 

(o) The first sentence of Section 2.05 of the Agreement is amended by inserting a proviso at the end of such sentence, which
reads in its entirety as follows: 
 “; and provided, further, that a notice of termination or reduction of
the Aggregate Commitments under this Section 2.05 may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrowers (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.” 
 (p)
Section 3.01(f) of the Agreement is amended to read in its entirety as follows: 

  

					
		 	3	 	First Amendment

 “(f) Each Lender on or prior to the date on which such Lender becomes a
Lender hereunder, and from time to time thereafter, either upon the request of the Administrative Agent, either Borrower, or upon the expiration or obsolescence of any previously delivered documentation, shall furnish to the Administrative Agent and
the Borrowers any documentation that is required under the Code or applicable Treasury regulations (including any documentation that is required as a result of a change in law occurring after the date hereof) to enable the Borrowers or the
Administrative Agent or any other party to determine and execute their respective obligations, duties and liabilities with respect to FATCA, including but not limited to any Taxes any of them may be required to withhold in respect of FATCA.”

 (q) Section 3.05(b) of the Agreement is amended by inserting a parenthetical at the end of such clause, which
reads in its entirety as follows: 
 “(in the case of a prepayment, whether of not any prior notice of such prepayment has
been revoked)” 
 (r) Section 4.01 of the Agreement is amended by replacing the reference to “MetLife and
each of its Material Subsidiaries” with “Each of MetLife and its Material Subsidiaries”. 
 (s)
Section 4.05(a) of the Agreement is amended by replacing the reference to “MetLife and each of its Material Subsidiaries” with “Each of MetLife and its Material Subsidiaries”. 

(t) Section 4.05(b) of the Agreement is amended to read in its entirety as follows: 

“(b) Each of MetLife and its Material Subsidiaries owns, or is licensed to use, all its trademarks, tradenames,
copyrights, patents and other intellectual property material to its business, and the use thereof by MetLife and its Material Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or
in the aggregate, would not reasonably be expected to result in a Material Adverse Change.” 
 (u)
Section 6.01(a) of the Agreement is amended to read in its entirety as follows: 
 “(a) (i) as
soon as available, but not later than 60 days (or such other period as may be prescribed under the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC thereunder) after the end of each fiscal year of MetLife, copies
of MetLife’s annual report on Form 10-K as filed with the SEC for such fiscal year; and (ii) as soon as available, but not later than 40 days (or such other period as may be prescribed under the Securities Exchange Act of 1934, as amended,
and the rules and regulations of the SEC thereunder) after the end of each of the first three fiscal quarters of each fiscal year of MetLife, copies of MetLife’s quarterly report on Form 10-Q as filed with the SEC for such fiscal quarter, in
each case certified by an appropriate Financial Officer as being the complete and correct copies of the statements on such forms furnished by MetLife to the SEC, it being understood that, in each case, (x) the Administrative Agent and the
Lenders shall be entitled to rely on any certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as amended, by the chief financial officer of MetLife that accompanies such annual or quarterly report and (y) the
certificate of an appropriate Financial Officer as to completeness and correctness shall not be required if such report is available to the Administrative Agent and the Lenders on the website the SEC maintains for the public dissemination of reports
by issuers;” 

  

					
		 	4	 	First Amendment

 (v) Section 6.01(b) of the Agreement is amended to read in its entirety as
follows: 
 “(b) concurrently with any delivery of financial statements under clause (a) above
or clause (c) or (d) below, a certificate of a Financial Officer of MetLife in the form of Exhibit G;” 
 (w) Section 6.01(f) of the Agreement is amended by inserting “(for purposes of this subsection, a “reportable event” under Section 4043 of ERISA and the regulations
promulgated thereunder being defined as such term is defined as of the date of this Agreement)” immediately following the first reference to “ERISA Event”. 
 (x) The first full paragraph following Section 6.01(g) of the Agreement is amended to read in its entirety as follows: 

“Documents required to be delivered pursuant to Section 4.04 or Section 6.01 (to the extent
any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrowers post such documents, or provide a link
thereto on the Borrowers’ website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted by the SEC on the website the SEC maintains for the public dissemination of reports by
issuers or are posted on the Borrowers’ behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative
Agent); provided that the Borrowers shall notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents and, if requested by the Administrative Agent, provide to the Administrative Agent
by electronic mail electronic versions (i.e., soft copies) of such documents. In addition, documents required to be delivered pursuant to Section 6.01(c) and (d) may be delivered in the form of a CD-ROM provided to the
Administrative Agent and each Lender, and the certification included with such documents of one or more Financial Officers regarding the completion of such documents in accordance with the NAIC Annual and Quarterly Statement Instructions and
Accounting Practices and Procedures manual, with the exceptions noted thereon as to compliance with state law, rules or regulation, shall be deemed to satisfy the Financial Officer certification requirements of Section 6.01(c) and
(d). Notwithstanding anything contained herein, in every instance the Borrowers shall be required to provide paper copies or copies in pdf format of the certificate required by Section 6.01(b) to the Administrative Agent. Except
for such certificates, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrowers with any
such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.” 
 (y) Section 6.02 of the Agreement is amended to read in its entirety as follows: 
 “Notices of Defaults. Upon any Responsible Officer obtaining knowledge thereof, the Borrowers will furnish to the Administrative Agent and each Lender prompt written notice of the occurrence
of any Default. Each such notice shall be accompanied by a statement of a Responsible Officer of MetLife setting forth the details of the event or 

  

					
		 	5	 	First Amendment

 
development requiring such notice and any action taken or proposed to be taken with respect thereto.” 
 (z) Clause (a) of Section 6.05 of the Agreement is amended to read in its entirety as follows: 
 “(a) keep and maintain all its property material to the conduct of its business in good working order and condition (ordinary wear and tear excepted) except to the extent that failure to do so could
not be reasonably expected to result in a Material Adverse Change, and” 
 (aa) Section 6.08 of the Agreement
is amended by deleting the reference to “in the case of Loans, to back up commercial paper and,”, it being understood and agreed that this deletion shall not change the purpose for which the proceeds of Loans under the Agreement and
Letters of Credit under the Agreement have been and may be used. 
 (bb) The second parenthetical contained in
Section 7.02(a) of the Agreement is amended to read in its entirety as follows: 
 “(excluding (i) assets
sold or disposed of in the ordinary course of business and (ii) assets sold or disposed of between or among MetLife and/or its direct and indirect wholly-owned Subsidiaries)” 

(cc) Section 7.03 of the Agreement is amended (i) by deleting from clause (a) “in the ordinary course of
business” and (ii) amending clause (b) to read in its entirety as follows: 
 “(b) transactions between or
among MetLife and/or its direct or indirect Subsidiaries.” 
 (dd) Section 8.01(g) of the Agreement is amended
to read in its entirety as follows: 
 “(g) any event or condition occurs that results in Material
Indebtedness of MetLife or any of its Material Subsidiaries becoming due prior to the scheduled maturity of such Material Indebtedness; provided that this clause (g) shall not apply to (i) secured Indebtedness that becomes
due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness and (ii) Indebtedness that is required to be prepaid as a result of the delivery of a voluntary prepayment notice with respect to such
Indebtedness;” 
 (ee) Section 8.01(j) of the Agreement is amended to read in its entirety as follows:

 “(j) MetLife or any of its Material Subsidiaries shall admit in writing its inability to pay, or fail
generally to pay, its debts as they become due;” 
 (ff) Section 8.01(l) of the Agreement is amended to read in
its entirety as follows: 
 “(l) an ERISA Event shall have occurred that, when taken together with all other
ERISA Events that have occurred, results in a Material Adverse Change; or” 
 (gg) Clause Second of
Section 8.03 of the Agreement is amended by replacing the reference to “Lenders” with “Lenders, the Fronting L/C Issuer, the Several L/C Agent and any Limited Fronting Lender”. 

  

					
		 	6	 	First Amendment

 (hh) Clause (A) of the last sentence of Section 10.01 of the Agreement is
amended to read in its entirety as follows: 
 “(A) the Commitment of any Defaulting Lender may not be increased or
extended, and the principal amount of any Loan or Unreimbursed Amount owing to such Defaulting Lender may not be reduced, in any case without the consent of such Defaulting Lender,” 

(ii) Section 10.04 of the Agreement is amended by replacing the reference to “Lender” in each of clause (c), clause
(d) and clause (ii) of the second proviso with “Lender, the Fronting L/C Issuer, the Several L/C Agent or any Limited Fronting Lender”. 
 (jj) Section 10.05(b) of the Agreement is amended to read in its entirety as follows: 
 “(b) Each Borrower shall indemnify the Administrative Agent, each Lender, the Fronting L/C Issuer, the Several L/C Agent, each Limited Fronting Lender and the directors, officers, employees, agents,
advisors and Affiliates of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities, penalties and related
expenses (including, without limitation, the reasonable fees, charges and disbursements of one counsel for the Indemnitees, unless the Indemnitees have conflicting interests that cannot reasonably be represented by one counsel, in which case such
expenses shall include the reasonable fees, charges and disbursements of no more than such number of counsels as are necessary to represent such conflicting interests) incurred by any Indemnitee or asserted against any Indemnitee arising out of, in
connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, or the performance by the parties hereto of their respective obligations
hereunder or thereunder, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the Fronting L/C Issuer, Several L/C Agent or any Limited Fronting Lender to honor a demand for payment
under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), or (iii) any actual or prospective claim, litigation, investigation or proceeding relating to
any of the foregoing, whether based on contract, tort or any other theory, and regardless of whether any Indemnitee is a party thereto (collectively, the “Indemnified Liabilities”); provided that such indemnity shall not, as
to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities, penalties or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the
gross negligence, bad faith or willful misconduct of such Indemnitee, (y) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from a breach in bad faith by an Indemnitee in any material
respect of such Indemnitee’s obligations hereunder or under any other Loan Document, or (z) result from any action, suit, proceeding or claim solely among Indemnitees brought by any Indemnitee against any other Indemnitee (other than such
other Indemnitee acting in its capacity as Administrative Agent, Fronting L/C Issue, Several L/C Agent and/or Limited Fronting Lender to the extent otherwise entitled to be indemnified hereunder) that does not involve an act or omission (or alleged
act or omission) by the Borrowers or any of the Borrowers’ affiliates.” 
 (kk) Section 10.06 of the
Agreement is amended to read in its entirety as follows: 

  

					
		 	7	 	First Amendment

 “Payments Set Aside. To the extent that any payment by or on
behalf of any Borrower is made to the Fronting L/C Issuer, the Several L/C Agent, any Limited Fronting Lender, any Confirming Bank, the Administrative Agent or any Lender, or the Fronting L/C Issuer, the Several L/C Agent, any Limited Fronting
Lender, any Confirming Bank, the Administrative Agent or any Lender exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set
aside or required (including pursuant to any settlement entered into by the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent, such Limited Fronting Lender, such Confirming Bank or such Lender in its discretion) to be repaid to a
trustee, rehabilitator, conservator, custodian, liquidator, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof
originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b) the Fronting L/C Issuer, the Several L/C Agent, such Limited Fronting
Lender, such Confirming Bank and each such Lender severally agrees to pay to the Administrative Agent (for the account of the applicable Person) upon demand its applicable share of any amount so recovered from or repaid by the applicable party, plus
interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect.” 
 (ll) Section 10.07(b) of the Agreement is amended by replacing the reference to “five (5)” with “ten (10)”. 

(mm) The definition of “Eligible Assignee” set forth in Section 10.07(g) of the Agreement is amended to read it its
entirety as follows: 
 “Eligible Assignee” means (a) a Lender; (b) an Affiliate of a
Lender; (c) an Approved Fund; and (d) any other Person (other than a natural person) approved by (i) the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent and any Limited Fronting Lender (but only if the Lender who
is the assignor is a Participating L/C Issuer with respect to such Limited Fronting Lender), and (ii) unless an Event of Default has occurred and is continuing, the Borrowers (each such approval not to be unreasonably withheld or delayed and
such consent by the Borrowers being deemed to have been given unless the Borrowers shall object thereto by written notice to the Administrative Agent within ten (10) Business Days after having actually received notice thereof); provided
that notwithstanding the foregoing, “Eligible Assignee” shall not include (A) any Borrower, (B) any of the Borrowers’ Affiliates or Subsidiaries, or (C) a Person who is a Non-NAIC Approved Bank at the effective time of
the assignment pursuant to this Section 10.07 (unless such Person is otherwise acceptable to the Administrative Agent and Bank of America).” 
 (nn) the last sentence of Section 10.07(i) of the Agreement is amended to read in its entirety as follows: 
 “Upon the appointment of a successor Fronting L/C Issuer and/or the Several L/C Agent (and its acceptance of such appointment) and the receipt of any necessary approvals from any beneficiaries of any
outstanding Letters of Credit and any insurance regulatory authorities, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Fronting L/C Issuer and/or the Several L/C Agent
and (b) the successor Fronting L/C 

  

					
		 	8	 	First Amendment

 
Issuer and/or the Several L/C Agent shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements
satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit.” 
 (oo) A new Section 10.07(j), reading in its entirety as follows, is added to the Agreement: 
 “(j) Notwithstanding anything to the contrary contained herein, if at any time Bank of America or any successor Fronting L/C Issuer, as applicable, becomes a Non-NAIC Approved Bank, the Borrowers
shall be entitled to appoint from among the Lenders a successor Fronting L/C Issuer hereunder; provided, however, that such Lender shall be an NAIC Approved Bank at the time of such appointment. If Bank of America or any successor
Fronting L/C Issuer, as applicable, is replaced by the Borrowers pursuant to this Section 10.07(j), Bank of America or such successor Fronting L/C Issuer, as applicable, shall retain all the rights and obligations of the Fronting L/C
Issuer hereunder with respect to all Fronted Letters of Credit outstanding as of the effective date of its replacement as Fronting L/C Issuer and all L/C Obligations with respect thereto. Upon the appointment of a successor Fronting L/C Issuer (and
its acceptance of such appointment) and the receipt of any necessary approvals from any beneficiaries of any outstanding Fronted Letters of Credit and any insurance regulatory authorities, (a) the successor Fronting L/C Issuer shall succeed to
and become vested with all of the rights, powers, privileges and duties of the replaced Fronting L/C Issuer and (b) the successor Fronting L/C Issuer shall issue letters of credit in substitution for the Fronted Letters of Credit, if any,
outstanding at the time of such succession or make other arrangements satisfactory to such replaced Fronting L/C Issuer to effectively assume the obligations of such replaced Fronting L/C Issuer with respect to such Fronted Letters of Credit.”

 (pp) Clause (a) of Section 10.08 of the Agreement is amended by inserting “, auditors” immediately
following the reference to “advisors”. 
 (qq) Section 10.15(b) of the Agreement is amended by replacing
the reference to “If a Lender is a Defaulting Lender” with “If a Lender becomes a Defaulting Lender or a Non-NAIC Approved Bank”. 
 (rr) Schedule 10.02 of the Agreement is amended by replacing it in its entirety with Schedule 10.02 attached hereto. 
 (ss) A new Exhibit G is added to the Agreement in the form of Exhibit G attached hereto. 
 (tt) The Table of Contents of the Agreement is amended by adding “G Compliance Certificate” immediately following the reference to “F Several Letter of Credit”. 

2. Conformed Agreement. For the convenience of the parties hereto, a conformed copy of the Agreement, as amended hereby, is
attached as Annex A hereto. 
 3. Representations. As a material inducement to the Lenders and the Administrative
Agent to execute and deliver this Amendment, each Borrower represents and warrants to the Lenders and the Administrative Agent as follows: 

  

					
		 	9	 	First Amendment

 (a) that such Borrower has all requisite corporate authority and power to execute, deliver,
and perform its obligations under this Amendment, which execution, delivery, and performance (i) have been duly authorized by all necessary corporate action, (ii) require no approvals from any Governmental Authority that have not been
obtained and are not in full force and effect, (iii) do not violate its certificate of incorporation or its bylaws, (iv) do not violate any applicable law or Governmental Order, and (v) do not violate or result in a default under any
indenture, agreement or other instrument binding on it or its assets, except, in the case of clauses (iv) and (v) above, to the extent that such violation or default, individually or in the aggregate, would not reasonably be
expected to result in a Material Adverse Change; 
 (b) upon its execution and delivery by the Borrowers, the Administrative
Agent, and the Required Lenders, this Amendment will constitute legal and binding obligation of such Borrower, enforceable against such Borrower in accordance with this Amendment’s terms, except as that enforceability may be limited by
general principles of equity or by bankruptcy or insolvency laws or similar laws affecting creditors’ rights generally; 

(c) no Default or Event of Default has occurred and is continuing; and 

(d) the representations and warranties of such Borrower set forth in the Agreement (other than in Section 4.04(c) and in
Section 4.06) are true and correct on and as of the date hereof. 
 4. Conditions Precedent to
Effectiveness. This Amendment shall not become effective unless and until the Administrative Agent receives the following: 
 (a) counterparts of this Amendment executed by the Borrowers, the Required Lenders, and the Administrative Agent; 
 (b) any other documents, instrument, certificates, evidences and legal opinions as it may reasonably request in connection herewith; and 

(c) payment of all reasonable expenses, including reasonable legal fees and expenses of counsel to the Administrative Agent, incurred by
the Administrative Agent in connection with this Amendment, to the extent invoiced to the Borrower on or prior to the date hereof. 
 5. Expenses. The Borrowers shall pay all reasonable costs, fees, and expenses paid or incurred by the Administrative Agent incident to this Amendment, including, without limitation, the
reasonable fees and expenses of the Administrative Agent’s counsel in connection with the negotiation, preparation, delivery, and execution of this Amendment and any related documents. 

6. Miscellaneous. Unless stated otherwise herein, (a) the singular number includes the plural and vice versa
and words of any gender include each other gender, in each case, as appropriate, (b) headings and captions shall not be construed in interpreting provisions of this Amendment, (c) this Amendment shall be governed by and construed in
accordance with the laws of the State of New York, (d) if any part of this Amendment is for any reason found to be unenforceable, all other portions of it shall nevertheless remain enforceable, (e) this Amendment may be executed in any
number of counterparts with the same effect as if all signatories had signed the same document, and all of those counterparts shall be construed together to constitute the same document, (f) delivery of an executed counterpart of a signature
page to this Amendment by telecopier or by electronic mail shall be effective as delivery of a manually executed counterpart of this Amendment, (g) this Amendment, the Agreement, as amended by this Amendment, and the other Loan Documents
constitute the entire agreement and understanding among the parties hereto and supercede any and all prior agreements and understandings, oral or written, 

  

					
		 	10	 	First Amendment

 
relating to the subject matter hereof, and (h) except as provided in this Amendment, the Agreement, the Notes, and the other Loan Documents are unchanged and are ratified and confirmed.

 7. Parties. This Amendment is a Loan Document. This Amendment binds and inures to the benefit of the Borrowers,
the Administrative Agent, the Lenders and their respective successors and assigns, subject to Section 10.07. 
 The
parties hereto have executed this Amendment in multiple counterparts as of the date first above written. 
 [REMAINDER OF
PAGE INTENTIONALLY BLANK. 
 SIGNATURE PAGES FOLLOW.] 

  

					
		 	11	 	First Amendment

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	METLIFE, INC.
		
	By:	 	 /s/ Marlene B. Debel

		 	Name:	 	 Marlene B. Debel

		 	Title:	 	 Senior Vice President and Treasurer

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	METLIFE FUNDING, INC.
		
	By:	 	 /s/ Marlene B. Debel

		 	Name:	 	 Marlene B. Debel

		 	Title:	 	 Chairman, President and Treasurer

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	BANK OF AMERICA, N.A., as Administrative Agent, Fronting L/C Issuer, Several L/C Agent and a Lender
		
	By:	 	 /s/ Chris Choi

		 	Name:	 	 Chris Choi

		 	Title:	 	 Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	 /s/ Kimberly Dauber

		 	Name:	 	 Kimberly Dauber

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Karen Hanke

		 	Name:	 	 Karen Hanke

		 	Title:	 	 Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	CREDIT SUISSE AG, NEW YORK BRANCH, as a Lender
		
	By:	 	 /s/ Karl Studer

		 	Name:	 	 Karl Studer

		 	Title:	 	 Director

		
	By:	 	 /s/ Bill O’Daly

		 	Name:	 	 Bill O’Daly

		 	Title:	 	 Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender
		
	By:	 	 /s/ John S. McGill

		 	Name:	 	 John S. McGill

		 	Title:	 	 Director

		
	By:	 	 /s/ Virginia Cosenza

		 	Name:	 	 Virginia Cosenza

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Paul Silvester

		 	Name:	 	 Paul Silvester

		 	Title:	 	 Managing Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	BARCLAYS BANK PLC, as a Lender
		
	By:	 	 /s/ Diane Rolfe

		 	Name:	 	 Diane Rolfe

		 	Title:	 	 Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	BNP PARIBAS, as a Lender
		
	By:	 	 /s/ Michael Albenese

		 	Name:	 	 Michael Albenese

		 	Title:	 	 Managing Director

		
	By:	 	 /s/ Nair P. Raghu

		 	Name:	 	 Nair P. Raghu

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	CITIBANK, N.A., as a Lender
		
	By:	 	 /s/ Richard Rivera

		 	Name:	 	 Richard Rivera

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	 GOLDMAN SACHS BANK USA, as a Lender

		
	By:	 	 /s/ Mark Walton

		 	Name:	 	 Mark Walton

		 	Title:	 	 Authorized Signatory

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	 UBS AG, STAMFORD BRANCH, as a Lender

		
	By:	 	 /s/ Mary E. Evans

		 	Name:	 	 Mary E. Evans

		 	Title:	 	 Associate Director

		 		 	Banking Products
		 		 	Services, US
		
	By:	 	 /s/ Irja R. Otsa

		 	Name:	 	 Irja R. Otsa

		 	Title:	 	 Associate Director

		 		 	Banking Products
		 		 	Services, US

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Lender
		
	By:	 	 /s/ Glenn Schuermann

		 	Name:	 	 Glenn Schuermann

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	ING BANK N.V., LONDON BRANCH, as a Lender
		
	By:	 	 /s/ MER Sharman

		 	Name:	 	 MER Sharman

		 	Title:	 	 Managing Director

		
	By:	 	 /s/ NJ Marchant

		 	Name:	 	 NJ Marchant

		 	Title:	 	 Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	MIZUHO CORPORATE BANK, LTD., as a Lender
		
	By:	 	 /s/ David Lim

		 	Name:	 	 David Lim

		 	Title:	 	 Authorized Signatory

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	THE ROYAL BANK OF SCOTLAND PLC, as a Lender
		
	By:	 	 /s/ Karen Beatty

		 	Name:	 	 Karen Beatty

		 	Title:	 	 Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	SUMITOMO MITSUI BANKING CORPORATION, as a Lender
		
	By:	 	 /s/ Shuji Yabe

		 	Name:	 	 Shuji Yabe

		 	Title:	 	 Managing Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	THE BANK OF NEW YORK MELLON, as a Lender
		
	By:	 	 /s/ Adim Offurum

		 	Name:	 	 Adim Offurum

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	COMMERZBANK AG NEW YORK AND GRAND CAYMAN BRANCHES, as a Lender
		
	By:	 	 /s/ Paul Vedova

		 	Name:	 	 Paul Vedova

		 	Title:	 	 Vice President

		
	By:	 	 /s/ Michael McCarthy

		 	Name:	 	 Michael McCarthy

		 	Title:	 	 Managing Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	NOMURA INTERNATIONAL PLC, as a Lender
		
	By:	 	 /s/ Sean Kelly

		 	Name:	 	 Sean Kelly

		 	Title:	 	 Managing Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	NORDEA BANK FINLAND PLC NEW YORK AND CAYMAN ISLANDS BRANCHES, as a Lender
		
	By:	 	 /s/ Harri Staven

		 	Name:	 	 Harri Staven

		 	Title:	 	 Vice President

		
	By:	 	 /s/ Mogens R. Jensen

		 	Name:	 	 Mogens R. Jensen

		 	Title:	 	 Senior Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	PNC BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Gustavus A. Bahr

		 	Name:	 	 Gustavus A. Bahr

		 	Title:	 	 Senior Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	 SOCIETE GENERALE, as a Lender

		
	By:	 	 /s/ William Aishton

		 	Name:	 	 William Aishton

		 	Title:	 	 Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	THE TORONTO-DOMINION BANK NEW YORK BRANCH, as a Lender
		
	By:	 	 /s/ Robyn Zeller

		 	Name:	 	 Robyn Zeller

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	U.S. BANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Evan Glass

		 	Name:	 	 Evan Glass

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	LLOYDS TSB BANK PLC, as a Lender
		
	By:	 	 /s/ Stephen Giacolone

		 	Name:	 	 Stephen Giacolone – G011

		 	Title:	 	 Assistant Vice President

		
	By:	 	 /s/ Dennis McClellan – M040

		 	Name:	 	 Dennis McClellan – M040

		 	Title:	 	 Assistant Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	THE NORTHERN TRUST COMPANY, as a Lender
		
	By:	 	 /s/ Chris McKean

		 	Name:	 	 Chris McKean

		 	Title:	 	 SVP

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	STATE STREET BANK AND TRUST COMPANY,
	as a Lender
		
	By:	 	 /s/ Deirdre M. Holland

		 	Name:	 	 Deirdre M. Holland

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	UNICREDIT BANK AG, NEW YORK BRANCH, as a Lender
		
	By:	 	 /s/ Michael A. Imperiale

		 	Name:	 	 Michael A. Imperiale

		 	Title:	 	 Director

		
	By:	 	 /s/ Blanca Saavedra

		 	Name:	 	 Blanca Saavedra

		 	Title:	 	 Vice President

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	SCOTIABANC INC., as a Lender
		
	By:	 	 /s/ J.F. Todd

		 	Name:	 	 J.F. Todd

		 	Title:	 	 Managing Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	THE BANK OF NOVA SCOTIA, as a Lender
		
	By:	 	 /s/ Thane Rattew

		 	Name:	 	 Thane Rattew

		 	Title:	 	 Managing Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED, as a Lender
		
	By:	 	 /s/ Robert Grillo

		 	Name:	 	 Robert Grillo

		 	Title:	 	 Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 Signature Page to that certain First Amendment to Five-Year Credit Agreement dated as of
September 13, 2012, among MetLife, Inc., MetLife Funding, Inc., the Lenders party thereto, and Bank of America, N.A., as Administrative Agent. 
  

					
	CREDIT AGRICOLE CORPORATE & INVESTMENT BANK, as a Lender
		
	By:	 	 /s/ Gina Harth-Cryde

		 	Name:	 	 Gina Harth-Cryde

		 	Title:	 	 Managing Director

		
	By:	 	 /s/ W Jay Buckley

		 	Name:	 	 W Jay Buckley

		 	Title:	 	 Managing Director

  
 Signature
Page to 
 First Amendment to Five-Year Credit Agreement 

 SCHEDULE 10.02 

ADMINISTRATIVE AGENT’S OFFICE, 
 CERTAIN ADDRESSES FOR NOTICES 
 BORROWERS: 

MetLife, Inc. 
 MetLife Funding, Inc.

 1095 Avenue of the Americas 
 New
York, NY 10036 
 Attention: Marlene B. Debel 
 Telephone: 212-578-3470 
 Electronic Mail: mdebel@metlife.com 

Website Address: www.metlife.com 

ADMINISTRATIVE AGENT: 

Administrative Agent’s Office 

(for payments and Requests for Credit Extensions): 
 Bank of America, N.A. 
 901 Main Street 
 Mail Code: TX1-492-14-12 
 Dallas, TX 75202-3714 

Attention: Karen Puente/Credit Services 

Telephone: 214-209-4108 
 Facsimile: 214-290-8378

 Electronic Mail: karen.r.puente@baml.com 
 Account No.: 1292000883 
 Ref: MetLife, Inc. 

ABA# 026009593 
 Other Notices as
Administrative Agent 
 Bank of America, N.A. 
 Agency Management 
 1455 Market Street, 5th Floor 
 CA5-701-05-19 
 San Francisco, CA 95103 
 Attention: Aamir Saleem 
 Telephone: 415-436-2769 

Facsimile: 415-503-5089 
 Electronic Mail:
aamir.saleem@baml.com 

  
 Schedule
10.02 

 FRONTING L/C ISSUER: 
 Bank of America, N.A. 
 Trade Operations-Los Angeles #22621 

1000 W. Temple Street 
 Mail Code: CA9-705-07-05

 Los Angeles, CA 90012-1514 

Attention:        Sandra Leon 
 Vice President 
 Telephone:      213-417-9524 

Facsimile:       213-457-8841 
 Electronic Mail: sandra.leon@baml.com 
 with copies to: 

Bank of America, N.A. 
 Agency Management

 1455 Market Street, 5th Floor 

CA5-701-05-19 
 San Francisco, CA 95103

 Attention: Aamir Saleem 
 Telephone:
415-436-2769 
 Facsimile: 415-503-5089 

Electronic Mail: aamir.saleem@baml.com 
 and

 Bank of America, N.A. 
 901 Main
Street 
 Mail Code: TX1-492-14-12 

Dallas, TX 75202-3714 
 Attention: Karen
Puente/Credit Services 
 Telephone: 214-209-4108 
 Facsimile: 214-290-8378 
 Electronic Mail: karen.r.puente@baml.com 

Account No.: 1292000883 
 Ref: MetLife, Inc.

 ABA# 026009593 

  
 Schedule
10.02 

 SEVERAL L/C AGENT: 
 Bank of America, N.A. 
 Trade Operations-Los Angeles #22621 

1000 W. Temple Street 
 Mail Code: CA9-705-07-05

 Los Angeles, CA 90012-1514 

Attention: Sandra Leon, Vice President 

Telephone: 213-417-9524 
 Facsimile: 213-457-8841

 Electronic Mail: sandra.leon@baml.com 
 with copies to: 
 Bank of America, N.A. 

Agency Management 
 1455
Market Street, 5th Floor 

CA5-701-05-19 
 San Francisco, CA 95103

 Attention: Aamir Saleem 
 Telephone
415-436-2769 
 Facsimile: 415-503-5089 

Electronic Mail: aamir.saleem@baml.com 
 and

 Bank of America, N.A. 
 901 Main
Street 
 Mail Code: TX1-492-14-12 

Dallas, TX 75202-3714 
 Attention: Karen
Puente/Credit Services 
 Telephone: 214-209-4108 
 Facsimile: 214-290-8378 
 Electronic Mail: karen.r.puente@baml.com 

  
 Schedule
10.02 

 EXHIBIT G 

FORM OF 

CERTIFICATE OF A FINANCIAL OFFICER OF METLIFE, INC. 

Reference is made to the Five-Year Credit Agreement dated as of August 12, 2011 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among MetLife, Inc., MetLife Funding, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Fronting L/C Issuer and Several L/C Agent. Each
capitalized term used but not defined herein shall have the meaning specified in the Credit Agreement. 
 The undersigned does
hereby certify, in his or her capacity as a Financial Officer of MetLife, Inc. and not in a personal capacity, to the best of his or her knowledge, as follows pursuant to Section 6.01(b) of the Credit Agreement: 

(i) No Default has occurred and is continuing as of
[            , 20    ][Insert details with respect to any Default that has occurred, and any action taken or proposed to be taken with respect thereto].

 (ii) MetLife’s compliance with Section 7.04 of the Credit Agreement is shown in calculations
attached hereto as Exhibit A. 
 (iii) Any changes in GAAP or SAP or the application thereof that has occurred
since the most recently delivered financial statements would be included in the [            ] section of our Form [    ] filing for the period ended
[            , 20    ], which is located at http://www.sec.gov and in the Statutory Financial information provided with respect to Metropolitan Life Insurance
Company. 
  

			
	Dated: [            , 20    ]
	
	METLIFE, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit G

 ANNEX A 
 (See Attached) 

  
 Annex A

 CONFORMED COPY (marked to reflect the execution version of the First Amendment)

  
  

 
 Published CUSIP Number: 59157FAV5

 FIVE-YEAR CREDIT AGREEMENT 
 dated as of August 12, 2011 
 Amending and Restating 

364-DAY CREDIT AGREEMENT 
 dated as of October 15, 2010 
 among 

METLIFE, INC. 
 AND 
 METLIFE FUNDING, INC., 

as Borrowers, 

BANK OF AMERICA, N.A., 
 as Administrative Agent, 
 Fronting L/C Issuer and Several L/C Agent, 

and 
 The Other
Lenders Party Hereto 
 JPMORGAN CHASE BANK, N.A. 
 and 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Co-Syndication Agents 
 CREDIT SUISSE AG, NEW YORK BRANCH, 
 DEUTSCHE BANK SECURITIES INC.

 and 

HSBC BANK USA, NATIONAL ASSOCIATION, 
 as Co-Documentation Agents 
 MERRILL LYNCH, PIERCE, FENNER & SMITH
INCORPORATED, 
 J.P. MORGAN SECURITIES LLC 
 and 
 WELLS FARGO SECURITIES, LLC, 

as 
 Joint Lead
Arrangers and Book Managers 
  
  

 

 TABLE OF CONTENTS 

 

							
	 Section
	 	 	  	Page	 
		
	 ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	  
			
	 1.01.
	 	 Defined Terms
	  	 	1	  
			
	 1.02.
	 	 Other Interpretive Provisions
	  	 	19	  
			
	 1.03.
	 	 Accounting Terms
	  	 	20	  
			
	 1.04.
	 	 References to Agreements and Laws
	  	 	20	  
			
	 1.05.
	 	 Days/Times of Day
	  	 	20	  
			
	 1.06.
	 	 Letter of Credit Amounts
	  	 	21	  
			
	 1.07.
	 	 Exchange Rates; Currency Equivalents
	  	 	21	  
		
	 ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	21	  
			
	 2.01.
	 	 Loans
	  	 	21	  
			
	 2.02.
	 	 Borrowings, Conversions and Continuations of Loans
	  	 	21	  
			
	 2.03.
	 	 Letters of Credit
	  	 	23	  
			
	 2.04.
	 	 Prepayments
	  	 	35	  
			
	 2.05.
	 	 Termination or Reduction of Commitments
	  	 	36	  
			
	 2.06.
	 	 Repayment of Loans
	  	 	37	  
			
	 2.07.
	 	 Interest
	  	 	37	  
			
	 2.08.
	 	 Fees
	  	 	37	  
			
	 2.09.
	 	 Computation of Interest and Fees
	  	 	38	  
			
	 2.10.
	 	 Evidence of Debt
	  	 	38	  
			
	 2.11.
	 	 Payments Generally
	  	 	39	  
			
	 2.12.
	 	 Sharing of Payments
	  	 	40	  
			
	 2.13.
	 	 Increase in Commitments
	  	 	41	  
			
	 2.14.
	 	 Non-NAIC Approved Banks
	  	 	42	  
		
	 ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	42	  
			
	 3.01.
	 	 Taxes
	  	 	42	  
			
	 3.02.
	 	 Illegality
	  	 	45	  
			
	 3.03.
	 	 Inability to Determine Rates
	  	 	45	  
			
	 3.04.
	 	 Increased Cost and Reduced Return; Capital Adequacy; Reserves
	  	 	45	  
			
	 3.05.
	 	 Compensation for Losses
	  	 	46	  
			
	 3.06.
	 	 Matters Applicable to all Requests for Compensation
	  	 	47	  
			
	 3.07.
	 	 Survival
	  	 	47	  
		
	 ARTICLE IV. REPRESENTATIONS AND WARRANTIES
	  	 	47	  
			
	 4.01.
	 	 Organization; Powers
	  	 	47	  

  

					
		 	ii	 	Five-Year Credit Agreement

							
			
	 4.02.
	 	 Authorization; Enforceability
	  	 	47	  
			
	 4.03.
	 	 Governmental Approvals; No Conflicts
	  	 	47	  
			
	 4.04.
	 	 Financial Condition; No Material Adverse Change
	  	 	48	  
			
	 4.05.
	 	 Properties
	  	 	48	  
			
	 4.06.
	 	 Litigation and Environmental Matters
	  	 	48	  
			
	 4.07.
	 	 Compliance with Laws and Agreements
	  	 	49	  
			
	 4.08.
	 	 Investment Company Status
	  	 	49	  
			
	 4.09.
	 	 Taxes
	  	 	49	  
			
	 4.10.
	 	 ERISA
	  	 	49	  
			
	 4.11.
	 	 Disclosure
	  	 	49	  
			
	 4.12.
	 	 Margin Stock
	  	 	49	  
		
	 ARTICLE V. CONDITIONS TO CREDIT EXTENSIONS
	  	 	50	  
			
	 5.01.
	 	 Closing Date
	  	 	50	  
			
	 5.02.
	 	 Effectiveness of Amendment and Restatement
	  	 	50	  
			
	 5.03.
	 	 Each Credit Event
	  	 	50	  
		
	 ARTICLE VI. AFFIRMATIVE COVENANTS
	  	 	51	  
			
	 6.01.
	 	 Financial Statements and Other Information
	  	 	51	  
			
	 6.02.
	 	 Notices of Defaults
	  	 	53	  
			
	 6.03.
	 	 Existence; Conduct of Business
	  	 	53	  
			
	 6.04.
	 	 Payment of Obligations
	  	 	53	  
			
	 6.05.
	 	 Maintenance of Properties; Insurance
	  	 	53	  
			
	 6.06.
	 	 Books and Records; Inspection Rights
	  	 	53	  
			
	 6.07.
	 	 Compliance with Laws
	  	 	54	  
			
	 6.08.
	 	 Use of Proceeds
	  	 	54	  
			
	 6.09.
	 	 Support Agreement
	  	 	54	  
		
	 ARTICLE VII. NEGATIVE COVENANTS
	  	 	54	  
			
	 7.01.
	 	 Liens
	  	 	54	  
			
	 7.02.
	 	 Fundamental Changes
	  	 	55	  
			
	 7.03.
	 	 Transactions with Affiliates
	  	 	56	  
			
	 7.04.
	 	 Consolidated Net Worth
	  	 	56	  
		
	 ARTICLE VIII. EVENTS OF DEFAULT
	  	 	56	  
			
	 8.01.
	 	 Events of Default
	  	 	56	  
			
	 8.02.
	 	 Remedies Upon Event of Default
	  	 	58	  
			
	 8.03.
	 	 Application of Funds
	  	 	58	  

  

					
		 	iii	 	Five-Year Credit Agreement

							
		
	 ARTICLE IX. ADMINISTRATIVE AGENT
	  	 	59	  
			
	 9.01.
	 	 Appointment and Authorization of Administrative Agent
	  	 	59	  
			
	 9.02.
	 	 Delegation of Duties
	  	 	60	  
			
	 9.03.
	 	 Liability of Administrative Agent
	  	 	60	  
			
	 9.04.
	 	 Reliance by Administrative Agent
	  	 	60	  
			
	 9.05.
	 	 Notice of Default
	  	 	61	  
			
	 9.06.
	 	 Credit Decision; Disclosure of Information by Administrative Agent
	  	 	61	  
			
	 9.07.
	 	 Indemnification of Administrative Agent
	  	 	61	  
			
	 9.08.
	 	 Administrative Agent in its Individual Capacity
	  	 	62	  
			
	 9.09.
	 	 Successor Administrative Agent
	  	 	62	  
			
	 9.10.
	 	 Administrative Agent May File Proofs of Claim
	  	 	63	  
			
	 9.11.
	 	 Other Agents; Joint Lead Arrangers and Book Managers
	  	 	63	  
		
	 ARTICLE X. MISCELLANEOUS
	  	 	63	  
			
	 10.01.
	 	 Amendments, Etc.
	  	 	63	  
			
	 10.02.
	 	 Notices and Other Communications; Facsimile Copies
	  	 	64	  
			
	 10.03.
	 	 No Waiver; Cumulative Remedies
	  	 	66	  
			
	 10.04.
	 	 Enforcement
	  	 	67	  
			
	 10.05.
	 	 Costs, Expenses and Indemnification
	  	 	67	  
			
	 10.06.
	 	 Payments Set Aside
	  	 	68	  
			
	 10.07.
	 	 Successors and Assigns
	  	 	69	  
			
	 10.08.
	 	 Confidentiality
	  	 	73	  
			
	 10.09.
	 	 Set-off
	  	 	74	  
			
	 10.10.
	 	 Interest Rate Limitation
	  	 	74	  
			
	 10.11.
	 	 Counterparts
	  	 	74	  
			
	 10.12.
	 	 Integration
	  	 	74	  
			
	 10.13.
	 	 Survival of Representations and Warranties
	  	 	75	  
			
	 10.14.
	 	 Severability
	  	 	75	  
			
	 10.15.
	 	 Mitigation of Obligations; Replacement of Lenders
	  	 	75	  
			
	 10.16.
	 	 Governing Law
	  	 	75	  
			
	 10.17.
	 	 Waiver of Right to Trial by Jury
	  	 	76	  
			
	 10.18.
	 	 No Advisory or Fiduciary Responsibility
	  	 	76	  
			
	 10.19.
	 	 USA PATRIOT Act Notice
	  	 	77	  
			
	 10.20.
	 	 Restatement Closing Date Assignments
	  	 	77	  
			
	 10.21.
	 	 Judgment Currency
	  	 	77	  

  

					
		 	iv	 	Five-Year Credit Agreement

 SCHEDULES 
  

			
	 1.01
	  	Existing Letters of Credit
	 2.01
	  	Commitments and Pro Rata Shares
	 4.06
	  	Disclosed Matters
	 10.2
	  	Administrative Agent’s Office, Certain Addresses for Notices

 EXHIBITS 

Form of 
  

			
	 A
	  	Loan Notice
	 B
	  	Note
	 C
	  	Assignment and Assumption
	 D-1
	  	Opinion of MetLife In House Counsel
	 D-2
	  	Opinion of Dewey & LeBoeuf LLP
	 E
	  	Fronted Letter of Credit
	 F
	  	Several Letter of Credit
	 G
	  	Compliance Certificate

  

					
		 	v	 	Five-Year Credit Agreement

 FIVE-YEAR CREDIT AGREEMENT 

This FIVE-YEAR CREDIT AGREEMENT (“Agreement”), amending and restating that certain 364-Day Credit Agreement dated as of
October 15, 2010, is entered into as of August 12, 2011, among METLIFE, INC. (“MetLife”) and METLIFE FUNDING, INC. (“Funding”; together with MetLife, each a “Borrower” and collectively the
“Borrowers”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent, Fronting L/C Issuer and
Several L/C Agent. 
 The Borrowers entered into that certain 364-Day Credit Agreement, dated as of October 15, 2010 (the
“Original Credit Agreement”), with the lenders, party thereto, and the Administrative Agent (as defined therein) and entered into the Three-Year Credit Agreement as of such date. 

The Borrowers have requested that the Original Credit Agreement be amended in certain respects and, in order to do so, that the Original
Credit Agreement be amended and restated in its entirety, and the Lenders and the Administrative Agent are willing to do so on the terms and conditions set forth herein. 
 Upon the reduction of commitments under the Three-Year Credit Agreement as contemplated by Section 5.02(d) hereof, and the extension of the Maturity Date hereunder to August 12, 2016 upon
the amendment and restatement hereof, this Agreement shall constitute MetLife’s primary long-term bank credit facility. 

In consideration of the mutual covenants and agreements herein contained, the parties covenant and agree that, effective on the
Restatement Closing Date upon and subject to the satisfaction in full of the conditions set forth herein, the Original Credit Agreement will be amended and restated and ratified to read in its entirety as follows: 

ARTICLE I. 

DEFINITIONS AND ACCOUNTING TERMS 
 1.01. Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 
 “Act” has the meaning specified in Section 10.19. 

“Administrative Agent” means Bank of America in its capacity as administrative agent under each of the Loan Documents,
or any successor administrative agent. 
 “Administrative Agent’s Office” means the Administrative
Agent’s address as set forth on Schedule 10.02, or such other address as the Administrative Agent may from time to time notify the Borrowers and the Lenders. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Affected Lender” means a Lender that is not obligated to issue a particular Several Letter of Credit because of one or
more of the events or circumstances described in Sections 2.03(a)(iii)(A) or (B) and that has elected not to issue such Several Letter of Credit as a result of one or more of such events or circumstances. 

  

Five-Year Credit Agreement 

 “Affiliate” means, with respect to any Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified; provided that, for the purposes of Section 10.07, any special purpose funding vehicle
that funds itself principally in the commercial paper market shall not constitute an Affiliate of any Lender. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Agent Parties” has the meaning specified in Section 10.02(d). 

“Agent-Related Persons” means the Administrative Agent, together with its Affiliates (including, in the case of Bank of
America in its capacity as the Administrative Agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated), and the partners, officers, directors, employees, agents and advisors of such Persons and Affiliates. 

“Aggregate Commitments” means, as of the date of any determination, the Commitments of all of the Lenders then in
effect. As of the date hereof, the Aggregate Commitments shall equal $3,000,000,000. 
 “Agreement” means this
Five-Year Credit Agreement. 
 “Agreement Currency” has the meaning specified in Section 10.21.

 “Alico Stock Purchase Agreement” means, collectively, the Stock Purchase Agreement, dated as of
March 7, 2010, by and among MetLife, ALICO Holdings LLC, a Delaware limited liability company and American International Group, Inc., a Delaware corporation, together with any other agreement entered into in connection therewith. 

“Alternative Currency” means the Euro. 
 “Alternative Currency Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the Alternative Currency as determined by the
Fronting L/C Issuer at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of the Alternative Currency with Dollars. 

“Alternative Currency Sublimit” means an amount equal to the lesser of the Aggregate Commitments and $300,000,000. The
Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Applicable Insurance
Regulatory Authority” means the insurance department or similar insurance regulatory or administrative authority or agency of the jurisdiction in which the Company is domiciled. 

“Applicable Rate” means, from time to time, the following percentages (expressed in basis points) per annum, based upon
the Debt Ratings as set forth below: 

  

					
		 	2	 	Five-Year Credit Agreement

																			
	 Applicable Rate
	 
	 Pricing Level
	  	Debt 
Ratings
S&P/Moody’s	  	Commitment
Fee	 	  	Eurodollar
Rate Loan	 	  	Base
Rate
Loan	 	  	Letter of
Credit 
Fee	 
	 1
	  	A+/A1 or better	  	 	10.0	  	  	 	100.0	  	  	 	0.0	  	  	 	87.5	  
	 2
	  	A/A2	  	 	12.5	  	  	 	112.5	  	  	 	12.5	  	  	 	100.0	  
	 3
	  	A-/A3	  	 	15.0	  	  	 	125.0	  	  	 	25.0	  	  	 	112.5	  
	 4
	  	BBB+/Baa1	  	 	20.0	  	  	 	150.0	  	  	 	50.0	  	  	 	137.5	  
	 5
	  	BBB/Baa2 or worse	  	 	30.0	  	  	 	187.5	  	  	 	87.5	  	  	 	175.0	  

 “Debt Rating” means, as of any date of determination, the rating as determined by either
S&P or Moody’s (collectively, the “Debt Ratings”) of MetLife’s non-credit-enhanced, senior unsecured long-term debt; provided that (a) if the respective Debt Ratings issued by the foregoing rating agencies
differ by one level, then the Pricing Level for the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing Level 1 being the highest and the Debt Rating for Pricing Level 5 being the lowest); (b) if there is a split in Debt
Ratings of more than one level, then the Pricing Level that is one level lower than the Pricing Level of the higher Debt Rating shall apply; (c) if MetLife has only one Debt Rating, the Pricing Level of such Debt Rating shall apply; and
(d) if MetLife does not have any Debt Rating, Pricing Level 5 shall apply. 
 Initially, the Applicable Rate shall be
determined based upon Pricing Level 3. Each change in the Applicable Rate resulting from a publicly announced change in the Debt Rating shall be effective, during the period commencing on the date of the public announcement thereof and ending on the
date immediately preceding the effective date of the next such change. 
 “Applicant” means with respect to a
particular Letter of Credit, any Borrower or any other Subsidiary of MetLife applying for such Letter of Credit pursuant to Section 2.03. 
 “Approved Fund” has the meaning specified in Section 10.07(g). 
 “Arrangers” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, in their capacities as joint lead arrangers and
book managers. 
 “Assignee Group” has the meaning specified in Section 10.07(g). 

“Assignment and Assumption” means an Assignment and Assumption substantially in the form of Exhibit C or any
other form approved by the Administrative Agent. 
 “Attributable Indebtedness” means, on any date, in respect
of any capital lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP. 
 “Audited Financial Statements” means the audited consolidated balance sheet of MetLife and its Subsidiaries for the fiscal year ended December 31, 2010, and the related consolidated
statements of income, stockholders’ equity and cash flows for such fiscal year of MetLife and its Subsidiaries, including the notes thereto. 
 “Auto-Extension Letter of Credit” has the meaning specified in Section 2.03(b)(v). 

  

					
		 	3	 	Five-Year Credit Agreement

 “Availability Period” means the period from and including the Closing Date
to the earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate Commitments pursuant to Section 2.05, and (c) the date of termination of the commitment of each Lender to make Loans and of the
obligation of the Fronting L/C Issuer and the Lenders to make L/C Credit Extensions pursuant to Section 8.02. 

“Bank of America” means Bank of America, N.A. and its successors. 

“Bank of America Fee Letter” means that certain letter agreement dated as of July 8, 2011, among the Borrowers,
Bank of America and Merrill Lynch, Pierce, Fenner & Smith Incorporated. 
 “Base Rate” means, for any
day, a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”
and (c) the Daily Floating Eurodollar Rate plus 1% (or, if the Daily Floating Eurodollar Rate is not published or available for a Business Day for any reason, the rate per annum determined by the Administrative Agent to be the comparable
one-month rate for such Business Day that would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market). The “prime rate” is a rate set by Bank of America based upon various factors
including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate
announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. 
 “Base Rate Loan” means a Loan that bears interest based on the Base Rate. 
 “Borrower” has the meaning specified in the introductory paragraph hereto. 
 “Borrower Materials” has the meaning specified in Section 6.01. 
 “Borrowing” means a borrowing consisting of simultaneous Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders
pursuant to Section 2.01. 
 “Business Day” (a) means any day other than a Saturday, Sunday or
other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the State of New York or the state where the Administrative Agent’s Office is located; (b) if such day is a day on which the
Eurodollar Rate or the Daily Floating Eurodollar Rate is to be determined, means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market; and (c) if such day is a day on which
any disbursements, settlements and payments in the Alternative Currency are to be carried out pursuant to this Agreement, means a TARGET Day. 
 “Cash Collateral” means, with respect to any Letter of Credit, deposit account balances maintained with the Administrative Agent, denominated in Dollars or, at the applicable
Borrower’s option if such Letter of Credit is denominated in Euros, in Euros and pledged, as collateral, to the Administrative Agent for the benefit of the Fronting L/C Issuer or the Lenders, as applicable, in an amount equal to the Outstanding
Amount of L/C Obligations. 
 “Cash Collateralize” has the meaning specified in Section 2.03(g).

 “Change in Control” means (a) the acquisition of ownership, directly or indirectly, beneficially or of
record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the Closing Date), of shares

  

					
		 	4	 	Five-Year Credit Agreement

 
representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding capital stock of MetLife, or (b) occupation of a majority of the seats (other than
vacant seats) on the board of directors of MetLife by Persons who were neither (i) nominated by the board of directors of MetLife nor (ii) appointed by directors so nominated. 

“Closing Date” means the date all the conditions precedent in Section 5.01 of the Original Credit Agreement
were satisfied or waived in accordance with Section 10.01, which was October 15, 2010. 

“Co-Applicant” means MetLife, acting as a co-applicant for an Applicant (other than Funding), with respect to a
particular Letter of Credit. 
 “Code” means the Internal Revenue Code of 1986. 

“Commitment” means, as to each Lender, its obligation to (a) make Loans to the Borrowers pursuant to
Section 2.01, (b) issue Several Letters of Credit (or to purchase participations therein if it becomes a Non-NAIC Approved Bank) and (c) purchase participations in L/C Obligations with respect to Fronted Letters of Credit, in
an aggregate principal amount at any one time outstanding not to exceed the sum of (i) the Dollar amount set forth opposite such Lender’s name on Schedule 2.01 and (ii) the Dollar amount set forth for such Lender in any
Assignment and Assumption pursuant to which such Lender acquired any such obligation, if applicable, as such sum may be adjusted from time to time in accordance with this Agreement. 

“Commitment Fee” has the meaning specified in Section 2.08(a). 

“Company” means Metropolitan Life Insurance Company. 

“Compensation Period” has the meaning specified in Section 2.11(c)(ii). 

“Confirming Bank” means, as provided in Section 2.14 with respect to any Non-NAIC Approved Bank,
(a) Bank of America or (b) any other Lender that is an NAIC Approved Bank and that has agreed to confirm Several Letters of Credit with respect to which such Non-NAIC Approved Bank is an issuer and which are outstanding during the period
that such Non-NAIC Approved Bank is a Non-NAIC Approved Bank. 
 “Consolidated Net Worth” means the
consolidated stockholders’ equity, determined in accordance with GAAP, of MetLife and its Consolidated Subsidiaries; provided that in determining such consolidated stockholders’ equity, any “Accumulated Other Comprehensive
Income (Loss)” shown on a consolidated balance sheet of MetLife and its Consolidated Subsidiaries prepared in accordance with GAAP shall be excluded. 
 “Consolidated Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other
entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date. 

“Continuing Lenders” has the meaning specified in Section 10.20. 

“Control” has the meaning specified in the definition of “Affiliate”. 

“Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 

  

					
		 	5	 	Five-Year Credit Agreement

 “Daily Floating Eurodollar Rate” means, for any day, the rate per annum
equal to BBA LIBOR, as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, on such day (or the
immediately preceding Business Day if such day is not a Business Day) for Dollar deposits with a term equivalent to one (1) month. 
 “Debt Rating” has the meaning specified in the definition of “Applicable Rate”. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservation, dissolution, bankruptcy, assignment for the benefit of creditors, moratorium,
rehabilitation, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States, any state of the United States or any other applicable jurisdiction from time to time in effect and affecting the rights of
creditors generally. 
 “Default” means any event or condition that constitutes an Event of Default or that,
with the giving of any notice, the passage of time, or both, would, unless cured or waived, be an Event of Default. 

“Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate
equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate
shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus
2% per annum, in all cases to the fullest extent permitted by applicable Laws. 
 “Defaulting Lender”
means, subject to Section 2.03(m), any Lender (or, in the case of clause (d) of this definition, any entity that controls such Lender or its ability to fund hereunder) that (a) has failed to (i) fund all or any portion of its
Loans or Several Letters of Credit within two Business Days of the date such Loans or Several Letters of Credit were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure
is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied,
or (ii) pay to the Administrative Agent, any Fronting L/C Issuer or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Fronted Letters of Credit) within two Business Days of the
date when due, (b) has notified the Borrower, the Administrative Agent or the applicable Fronting L/C Issuer in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect
(unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent,
together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to
confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of
such written confirmation by the Administrative Agent and the Borrower), or (d) has (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee,
administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority
acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so
long as such ownership interest does not 

  

					
		 	6	 	Five-Year Credit Agreement

 
result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such
Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. For purposes of this definition, “control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Lender, whether through the ability to exercise voting power, by contract or otherwise and “controls” has a meaning correlative thereto. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to
Section 2.03(m)) upon delivery of written notice of such determination to the Borrower, any Fronting L/C Issuer and each Lender. 
 “Disclosed Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 4.06. 

“Dollar” and “$” mean lawful money of the United States. 

“Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and
(b) with respect to any amount denominated in the Alternative Currency, the equivalent amount thereof in Dollars as determined by the Fronting L/C Issuer at such time on the basis of the Spot Rate (determined in respect of the most recent
Revaluation Date) for the purchase of Dollars with the Alternative Currency. 
 “Early Termination” has the
meaning specified in the definition of “Material Unpaid Swap Indebtedness”. 
 “Eligible Assignee”
has the meaning specified in Section 10.07(g). 
 “EMU Legislation” means the legislative measures
of the European Council for the introduction of, changeover to or operation of a single or unified European currency. 

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions,
notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, release or threatened release of any Hazardous
Material or to health and safety matters. 
 “Environmental Liability” means any liability, contingent or
otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of MetLife or any of its Material Subsidiaries directly or indirectly resulting from or based upon (a) violation of any
Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials
into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing, excluding in any case liabilities arising under any insurance contract
or policy, reinsurance agreement or retrocession agreement relating to any of the foregoing. 
 “ERISA” means
the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 “ERISA Affiliate” means
any trade or business (whether or not incorporated) that, together with MetLife, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of 

  

					
		 	7	 	Five-Year Credit Agreement

 
Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code. 

“ERISA Event” means (a) “reportable event”, under Section 4043 of ERISA and the regulations issued
thereunder, for which the notice has not been waived; (b) the existence with respect to any Plan of an “unpaid minimum required contribution,” described in Section 4971(c)(4) of the Code, whether or not waived; (c) the
filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by MetLife or any of its ERISA Affiliates of any
liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by MetLife or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (f) the incurrence by MetLife or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by MetLife
or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from MetLife or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to
be, insolvent or in reorganization, within the meaning of Title IV of ERISA. 
 “Euro” and
“EUR” mean the lawful currency of the Participating Member States introduced in accordance with the EMU Legislation. 
 “Eurodollar Base Rate” has the meaning specified in the definition of “Eurodollar Rate”. 
 “Eurodollar Rate” means, for any Interest Period with respect to any Eurodollar Rate Loan, a rate per annum determined by the Administrative Agent pursuant to the following formula:

  

							
		 	Eurodollar Rate =	 	 Eurodollar Base Rate
 1.00 – Eurodollar Reserve Percentage
	  	

 Where, 
 “Eurodollar Base Rate” means, for such Interest Period the rate per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or
other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for
Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period. If such rate is not available at such time for any reason, then the “Eurodollar Rate” for such Interest Period shall be
the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the approximate amount of the Eurodollar Rate Loan being made, continued
or converted by Bank of America and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London
time) two Business Days prior to the commencement of such Interest Period. 
 “Eurodollar Rate Loan” means a
Loan that bears interest at a rate based on the Eurodollar Rate. 
 “Eurodollar Reserve Percentage” means, for
any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for
determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”).

  

					
		 	8	 	Five-Year Credit Agreement

 
The Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage. 

“Event of Default” has the meaning specified in Section 8.01. 

“Exiting Lenders” has the meaning specified in Section 10.20. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be
made by or on account of any obligation of any Borrower hereunder, (a) income, franchise or similar taxes, in each case, imposed on (or measured by) its net income by the United States of America, or by the jurisdiction (or any political
subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable Lending Office is located, or, in the case of a jurisdiction (or any
political subdivision thereof) that imposes taxes on the basis of management or control or other concept or principle of residence, the jurisdiction (or any political subdivision thereof) in which such recipient is so resident, (b) Taxes
imposed by reason of any present or former connection between such recipient and the jurisdiction (or any political subdivision thereof) imposing such Taxes, other than solely as a result of the execution and delivery of this Agreement, the making
of any Credit Extensions hereunder or the performance of any action provided for hereunder, (c) any branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction in which any Borrower is
located (d) any backup withholding tax imposed by the United States of America as the result of such recipient’s failure to comply with Section 3.01(e), (e) in the case of a Foreign Lender (other than an assignee pursuant
to a request by the Borrowers under Section 10.15(b)), any withholding tax that (i) is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or designates a new Lending
Office), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending Office (or assignment), to receive additional amounts from such Borrower with respect to such withholding tax
pursuant to Section 3.01(a) or (ii) is attributable to such Foreign Lender’s failure to comply with Section 3.01(e), and (f) any Taxes imposed by the United States of America as a result of the failure of such
recipient to comply with the applicable requirements of FATCA. 
 “Existing Letters of Credit” means the
letters of credit heretofore issued by Bank of America on a fronted basis or by the Lenders on a several basis pursuant to the Original Credit Agreement or the Three-Year Credit Agreement that are described on Schedule 1.01. 

“FATCA” means Sections 1471 through 1474 of the Code and any regulations (whether temporary or proposed) that are issued
thereunder or official governmental interpretations thereof. 
 “Federal Funds Rate” means, for any day, the
rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the
Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next
succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to
Bank of America on such day on such transactions as reasonably determined by the Administrative Agent. 
 “Fee
Letters” mean the Bank of America Fee Letter, the JPMorgan Fee Letter, and the Wells Fargo Fee Letter. 

  

					
		 	9	 	Five-Year Credit Agreement

 “FHLBB” has the meaning specified in Section 7.01(i).

 “Financial Officer” means the chief financial officer, principal accounting officer, treasurer, assistant
treasurer or controller of MetLife. 
 “Foreign Lender” means any Lender that is not a “United States
person” within the meaning of Section 7701(a)(30) of the Code. 
 “FRB” means the Board of Governors
of the Federal Reserve System of the United States. 
 “Fronted Letter of Credit” means any Letter of Credit
which is issued by the Fronting L/C Issuer pursuant to Section 2.03(a), in substantially the form of Exhibit E or in such other form as may be acceptable to the Fronting L/C Issuer. Fronted Letters of Credit may be issued in
Dollars or the Alternative Currency. 
 “Fronting L/C Issuer” means Bank of America in its capacity as an
issuer of Fronted Letters of Credit, or any successor in such capacity. In issuing Fronted Letters of Credit denominated in the Alternative Currency, Bank of America may, at the request of the applicable Borrower, cause such Fronted Letters of
Credit to be issued (or confirmed) by one or more of its foreign branches or affiliates as provided in Section 2.03(a)(i), and in such case such foreign branch or affiliate shall be deemed to be Bank of America. 

“Fund” has the meaning specified in Section 10.07(g). 

“Funding” has the meaning specified in the introductory paragraph hereto. 

“GAAP” means generally accepted accounting principles in the United States. 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

 “Granting Lender” has the meaning specified in Section 10.07(h). 

“Guarantee” means, as to any Person, any obligation, contingent or otherwise, of such Person guaranteeing or having the
economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or
indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in
respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of
income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or
other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the
related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The
term “Guarantee” as a verb has a corresponding meaning. 

  

					
		 	10	 	Five-Year Credit Agreement

 “Hazardous Materials” means all explosive or radioactive substances or
wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other
substances or wastes of any nature regulated pursuant to any Environmental Law. 
 “Honor Date” has the meaning
specified in Section 2.03(c)(i) and (c)(ii). 
 “Increase Effective Date” has the meaning
specified in Section 2.13(c). 
 “Increasing Party” has the meaning specified in
Section 10.20. 
 “Indebtedness” means, as to any Person at a particular time, without duplication,
all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all
obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments (excluding, for the avoidance of doubt, surety bonds, fidelity bonds and other
similar insurance products); 
 (b) all direct or contingent obligations of such Person arising under letters of
credit (including standby and commercial), bankers’ acceptances, bank guaranties and similar instruments; 

(c) all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts
payable in the ordinary course of business); 
 (d) indebtedness (excluding prepaid interest thereon) secured by
a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in
recourse; 
 (e) all Surplus Relief Reinsurance ceded by such Person; 

(f) capital leases of which such Person is the lessee; and 

(g) all Guarantees of such Person in respect of any of the foregoing. 

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a
joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any capital lease as of any
date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date. 
 “Indemnified
Liabilities” has the meaning specified in Section 10.05(b). 
 “Indemnified Taxes” means
Taxes imposed on any amount payable by any Borrower under this Agreement, other than Excluded Taxes. 

“Indemnitee” has the meaning specified in Section 10.05(b). 

“Information” has the meaning specified in Section 10.08. 

  

					
		 	11	 	Five-Year Credit Agreement

 “Interest Payment Date” means, (a) as to any Loan owing to any Lender
other than a Base Rate Loan, the last day of each Interest Period applicable to such Loan; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three
months after the beginning of such Interest Period shall also be Interest Payment Dates; (b) as to any Base Rate Loan owing to any Lender, the last Business Day of each March, June, September and December; and (c) as to any Loan, the
Maturity Date. 
 “Interest Period” means as to each Eurodollar Rate Loan, the period commencing on the date
such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one, two, three or six months (or nine or twelve months if consented to by all of the Lenders) thereafter, as selected by the
applicable Borrower in its Loan Notice; provided that: 
 (a) any Interest Period that would otherwise end
on a day that is not a Business Day shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Rate Loan, such Business Day falls in another calendar month, in which case such Interest Period shall end on the next
preceding Business Day; 
 (b) any Interest Period pertaining to a Eurodollar Rate Loan that begins on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period;
and 
 (c) no Interest Period shall extend beyond the Maturity Date. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 
 “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the Fronting L/C Issuer,
the Several L/C Agent or any Limited Fronting Lender, as applicable, and a Borrower (and, if applicable, any Subsidiary as an Applicant) or in favor of the Fronting L/C Issuer, the Several L/C Agent or such Limited Fronting Lender, as applicable,
and relating to any such Letter of Credit. 
 “Joining Lenders” has the meaning specified in
Section 10.20. 
 “JPMorgan Fee Letter” means that certain letter agreement dated as of
July 8, 2011, among the Borrowers and J.P. Morgan Securities LLC. 
 “Judgment Currency” has the meaning
specified in Section 10.21. 
 “Laws” means, collectively, all international, foreign, Federal,
state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the
enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having
the force of law. 

  

					
		 	12	 	Five-Year Credit Agreement

 “L/C Credit Extension” means, with respect to any Letter of Credit, the
issuance thereof, the extension of the expiry date thereof or the increase of the amount thereof. 
 “L/C
Obligations” means, as at any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit plus the aggregate of all unpaid Unreimbursed Amounts. For purposes of computing the aggregate undrawn amount of
any Letter of Credit (other than for purposes of calculating the fees payable pursuant to Sections 2.03(i) and (j) and Sections 2.08(a) and (b)), such amount shall be determined in accordance with
Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of
Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lender” has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the
Fronting L/C Issuer, the Several L/C Agent and each Limited Fronting Lender. 
 “Lending Office” means, as to
any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrowers and the Administrative Agent. 

“Letter of Credit” means any standby letter of credit issued or deemed issued hereunder and shall include the Existing
Letters of Credit (which for the avoidance of doubt, will be deemed issued hereunder as of the Restatement Closing Date). 

“Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in
the form from time to time in use by the Fronting L/C Issuer or the Several L/C Agent, as applicable. 
 “Letter of
Credit Fee” has the meaning specified in Section 2.03(i). 
 “Lien” means any mortgage,
pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature
whatsoever (including any conditional sale or other title retention agreement, and any financing lease having substantially the same economic effect as any of the foregoing). 
 “Limited Fronting Lender” means, (a) as provided in Section 2.03(a)(vi), (i) Bank of America (so long as it is not an Affected Lender with respect to a particular
Several Letter of Credit) or (ii) any other Lender (so long as it is not an Affected Lender with respect to a particular Several Letter of Credit) that agrees that it shall be an issuer with respect to any Affected Lender’s Pro Rata Share
of a particular Several Letter of Credit, or (b) as provided in Section 2.14, (i) Bank of America or (ii) any other Lender that is a NAIC Approved Bank and that agrees in writing with the Borrowers that it shall be an
issuer with respect to any Non-NAIC Approved Bank’s Pro Rata Share of Several Letters of Credit issued during the period that such Non-NAIC Approved Bank is a Non-NAIC Approved Bank. 

“Loan” has the meaning specified in Section 2.01. 

“Loan Documents” means this Agreement, each Note, each Letter of Credit, each Issuer Document, and the Fee Letters.

  

					
		 	13	 	Five-Year Credit Agreement

 “Loan Notice” means a notice of (a) a Borrowing, (b) a conversion
of Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A. 

“Margin Stock” means “margin stock” within the meaning of Regulations U and X of the FRB. 

“Material Adverse Change” means any event, development or circumstance that has had or could reasonably be expected to
have a material adverse effect on (a) the business, assets, property or financial condition of MetLife and its Subsidiaries taken as a whole, or (b) the validity or enforceability of this Agreement or the rights and remedies of the
Administrative Agent and the Lenders hereunder. For the avoidance of doubt, Material Adverse Change shall be determined after giving effect to third party payments (whether made directly or indirectly, including without limitation by way assumption
of liabilities or adjustment to purchase price), if any, reasonably expected to be received under any applicable insurance contract or policy, reinsurance agreement, retrocession agreement, indemnification agreement or acquisition agreement,
including without limitation the Alico Stock Purchase Agreement. 
 “Material Indebtedness” means at any time
Indebtedness (other than the Loans and L/C Obligations) of MetLife or any of its Material Subsidiaries in an aggregate principal amount exceeding $750,000,000 minus the aggregate principal amount of Material Unpaid Swap Indebtedness at such time.

 “Material Subsidiary” means, at any time, (i) Funding, (ii) the Company and (iii) each
Subsidiary of MetLife that satisfies the definition of “significant subsidiary” contained as of the Restatement Closing Date in Regulation S-X of the SEC, but excluding any Subsidiary (an “Investment Subsidiary”) established in
connection with the ownership and investment management of the general account assets of (a) the Company or (b) any other Material Subsidiary of MetLife that is an insurance company (each of the Company and such other insurance company
being an “Insurance Subsidiary”); provided, however, that so long as the consolidated assets of the Investment Subsidiaries of any Insurance Subsidiary exceed 25% of the consolidated assets of such Insurance Subsidiary, then each such
Investment Subsidiary shall be deemed to be a Material Subsidiary. 
 “Material Unpaid Swap Indebtedness” means
such obligations of MetLife or any of its Material Subsidiaries: (i) then due and payable by MetLife or any of its Material Subsidiaries in respect of one or more Swap Contracts (giving effect to any legally enforceable netting agreements) as a
result of such Swap Contracts being terminated, accelerated, or closed-out prior to the scheduled termination of such Swap Contracts (an “Early Termination”), and (ii) such Early Termination was the result of an event of default or
other similar breach of such Swap Contracts attributable to MetLife or any of its Material Subsidiaries. 
 “Maturity
Date” means August 12, 2016. 
 “Maximum Rate” has the meaning specified in
Section 10.10. 
 “MetLife” has the meaning specified in the introductory paragraph hereto.

 “MetLife Entity” has the meaning specified in Section 7.01(j). 

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

“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“NAIC” means the National Association of Insurance Commissioners and any successor thereto. 

  

					
		 	14	 	Five-Year Credit Agreement

 “NAIC Approved Bank” means any Lender that is listed on the most current
“Bank List” of banks approved by the NAIC; provided that if such Lender is a Foreign Lender, such Lender is acting through the United States branch of such Lender listed on such “Bank List”. 

“Non-Extension Notice Date” has the meaning specified in Section 2.03(b)(v). 

“Non-NAIC Approved Bank” means, at any time, any Lender that is not a NAIC Approved Bank. 

“Note” means a promissory note made by a Borrower in favor of a Lender evidencing Loans made by such Lender,
substantially in the form of Exhibit B. 
 “Obligations” means all advances to, and debts,
liabilities, obligations, covenants and duties of, any Borrower arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent,
due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Borrower or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the
debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 

“Original Credit Agreement” has the meaning specified in the recitals hereto. 

“Other Taxes” means any and all present or future stamp or documentary taxes or any other excise or property taxes,
charges or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement. 
 “Outstanding Amount” means (i) with respect to Loans on any date, the aggregate principal amount thereof outstanding at the close of business on such date after giving effect to any
borrowings, prepayments or repayments of Loans occurring on such date; and (ii) with respect to any L/C Obligations on any date, the Dollar Equivalent amount of such L/C Obligations at the close of business on such date after giving effect to
any L/C Credit Extension occurring on such date and any other changes in the Dollar Equivalent of the aggregate amount of the L/C Obligations as of such date, including such changes resulting from any reimbursements of outstanding unpaid drawings
under any Letters of Credit or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date. 
 “Participant” has the meaning specified in Section 10.07(d). 
 “Participant Register” has the meaning specified in Section 10.07(d). 
 “Participating L/C Issuer” means, from time to time with respect to each Several Letter of Credit, each Affected Lender or Non-NAIC Approved Bank, as applicable, for whose Pro Rata Share
a Limited Fronting Lender has agreed to be liable as an issuer. 
 “Participating Member State” means each
state so described in any EMU Legislation. 
 “PBGC” means the Pension Benefit Guaranty Corporation.

 “Permitted Encumbrances” means: 

(a) Liens imposed by law for taxes that are not yet due or are being contested in compliance with
Section 6.04; 

  

					
		 	15	 	Five-Year Credit Agreement

 (b) bankers’, carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in compliance with
Section 6.04; 
 (c) pledges and deposits made in the ordinary course of business in compliance with
workers’ compensation, unemployment insurance and other social security laws or regulations; 
 (d) deposits
to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 

(e) Liens on deposit accounts or securities accounts, including bankers’ Liens and rights of setoff arising in the
ordinary course of business; 
 (f) Liens arising out of deposits of cash or securities with reinsurance trusts,
ceding companies or insurance regulators in the ordinary course of business; and 
 (g) easements, zoning
restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or
interfere with the ordinary conduct of business of any Borrower or the Company; 
 provided that the term “Permitted
Encumbrances” shall not include any Lien securing Indebtedness. 
 “Person” means any natural person,
corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of
ERISA, and in respect of which MetLife or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Platform” has the meaning specified in Section 6.01. 

“Pro Rata Share” means, with respect to each Lender at any time, a fraction (expressed as a percentage, carried out to
the ninth decimal place), the numerator of which is the amount of the Commitment of such Lender at such time and the denominator of which is the amount of the Aggregate Commitments at such time; provided that if each Lender’s Commitment
and the obligation of the Fronting L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02, then the Pro Rata Share of each Lender shall be determined based on the Pro Rata Share of such Lender immediately
prior to such termination and after giving effect to any subsequent assignments made pursuant to the terms hereof. The initial Pro Rata Share of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment
and Assumption pursuant to which such Lender becomes a party hereto, as applicable. The Pro Rata Share of a Lender may be adjusted in accordance with the provisions of this Agreement, including provisions regarding Defaulting Lenders. 

“Public Lender” has the meaning specified in Section 6.01. 

“Reducing Party” has the meaning specified in Section 10.20. 

  

					
		 	16	 	Five-Year Credit Agreement

 “Register” has the meaning specified in Section 10.07(c).

 “Required Lenders” means, as of any date of determination, Lenders having more than 50% of the Aggregate
Commitments or, if the Commitment of each Lender has been terminated pursuant to Section 8.02, Lenders holding more than 50% of the Total Outstandings (with the aggregate amount of each Lender’s issuer liability or risk
participation and funded participation in L/C Obligations being deemed “held” by such Lender for purposes of this definition); provided that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any
Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 
 “Responsible
Officer” means the chief executive officer, president, chief financial officer, principal accounting officer, treasurer, assistant treasurer or controller of a Borrower. Any document delivered hereunder that is signed by a Responsible
Officer of a Borrower shall be conclusively presumed to have been authorized by all necessary corporate, partnership and other action on the part of such Borrower and such Responsible Officer shall be conclusively presumed to have acted on behalf of
such Borrower. 
 “Restatement Closing Date” means the date all the conditions precedent in
Section 5.02 are satisfied or waived in accordance with Section 10.01. 
 “Revaluation
Date” means, with respect to any Fronted Letter of Credit denominated in the Alternative Currency, each of the following: (i) each date of issuance of any Fronted Letter of Credit denominated in the Alternative Currency, (ii) each
date of an amendment of any Fronted Letter of Credit denominated in the Alternative Currency having the effect of increasing the amount thereof (solely with respect to the increased amount), (iii) each date of any payment by the Fronting L/C
Issuer under any Letter of Credit denominated in the Alternative Currency, (iv) each date on which fees are calculated or payable pursuant to Sections 2.03 (i) or (j), and (v) each other date on which the Fronting
L/C Issuer or the Administrative Agent, as applicable, may determine in its good faith discretion that the provisions of Sections 2.04(b) or (c) may be applicable. 

“Risk Participation Cash Collateral” means, with respect to any Fronted Letter of Credit, deposit account balances
maintained with the Administrative Agent, denominated in Dollars and pledged, as collateral, to the Administrative Agent for the benefit of the Fronting L/C Issuer or any Limited Fronting Lender, as applicable, in an amount equal to (x) the
aggregate Pro Rata Shares of all Defaulting Lenders times (y) the amount available to be drawn under such Fronted Letter of Credit, such pledge to be made pursuant to documentation in form and substance reasonably satisfactory to the
Administrative Agent (which documentation is hereby consented to by the Lenders, the Fronting L/C Issuer and each Limited Fronting Lender, as applicable). 
 “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, a subsidiary of The McGraw-Hill Companies, Inc., and
any successor thereto. 
 “SAP” means the accounting procedures and practices prescribed or permitted by the
Applicable Insurance Regulatory Authority or the NAIC. 
 “SEC” means the Securities and Exchange Commission,
or any Governmental Authority succeeding to any of its principal functions. 
 “Securities Transactions” means
(a) securities lending arrangements, and (b) repurchase and reverse repurchase arrangements with respect to securities and financial instruments. 

  

					
		 	17	 	Five-Year Credit Agreement

 “Several L/C Agent” means Bank of America, in its capacity as agent and
attorney-in-fact for the Lenders in issuing and amending Several Letters of Credit, or any successor in such capacity. 

“Several Letter of Credit” means any Letter of Credit issued severally by the Lenders, substantially in the form of
Exhibit F, with such changes therein as the Several L/C Agent determines are acceptable to it and not adverse to the interests of the Lenders. 
 “SPC” has the meaning specified in Section 10.07(h). 

“Spot Rate” for a currency (the “first currency”) means, on any day, the spot fix rate for bids at which the
first currency may be purchased with another currency (the “second currency”), at 11:00 a.m., New York time, on such date as published by The WM Company on Bloomberg or Reuters. In the event that such rate is not published by The WM
Company, the Spot Rate with respect to the first currency shall be determined by reference to such other publicly available service for displaying spot fix exchange rates as may be reasonably selected by the Administrative Agent, or, in the event no
such service is selected, such Spot Rate shall instead be calculated on the basis of the arithmetical mean of the buy and sell spot rates of exchange of the Administrative Agent, for the first currency on the London market at 4:00 p.m., London time,
on such date for the purchase of the first currency with the second currency, for delivery two Business Days later; provided, that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative
Agent, after consultation with the Borrowers, may use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest error. 

“Statutory Statement” means a statement of the condition and affairs of the Company, prepared in accordance with SAP,
and filed with the Applicable Insurance Regulatory Authority. 
 “Subsidiary” of a Person means a corporation,
partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than
securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of any Borrower. 

“Support Agreement” means the Support Agreement dated as of November 30, 1984 between the Company and Funding, as
amended and restated effective as of that date on July 2, 1985. 
 “Surplus Relief Reinsurance” means any
transaction in which the Company or any Subsidiary of the Company cedes business under a reinsurance agreement that would be considered a “financing-type” reinsurance agreement as determined by the independent certified public accountants
of the Company in accordance with principles published by the Financial Accounting Standards Board or the Second Edition of the AICPA Audit Guide for Stock Life Insurance Companies (pp. 91-92), as the same may be revised from time to time.

 “Swap Contract” means any and all rate swap transactions (including inflation swaps), basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or
forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot
contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into 

  

					
		 	18	 	Five-Year Credit Agreement

 
any of the foregoing), whether or not any such transaction is governed by or subject to any Master Agreement or cleared through one or more clearing houses, executed on an exchange or other
central limit order book, or executed bilaterally with a financial institution, and the related confirmations. As used in this definition, “Master Agreement” means any form of master agreement published by the International Swaps
and Derivatives Association, Inc., any futures customer agreement, cleared derivatives addendum to such futures customer agreement or any other master agreement governing any of the transactions described in the definition, together with any related
schedules or annexes, with such changes or modifications as may be agreed by the parties to such agreement. 
 “TARGET
Day” means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET) payment system (or, if such payment system ceases to be operative, such other payment system (if any) determined by the Fronting
L/C Issuer to be a suitable replacement) is open for the settlement of payments in the Alternative Currency. 

“Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed
by any Governmental Authority including penalties, interest and additions to tax. 
 “Three-Year Credit
Agreement” means the Three-Year Credit Agreement dated as of October 15, 2010, by and among Borrowers, the lenders party thereto from time to time, and Bank of America, N.A., as administrative agent, fronting letter of credit issuer
and several letter of credit agent, as amended and restated by the Five-Year Credit Agreement dated as of September 13, 2012, by and among Borrowers, the lenders party thereto from time to time, and Bank of America, N.A., as administrative
agent, fronting letter of credit issuer and several letter of credit agent, and as the same may otherwise be amended, amended and restated, supplemented or otherwise modified from time to time. 

“Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C Obligations. 

“Transactions” means the execution, delivery and performance by the Borrowers of this Agreement, the Borrowings when
made, the issuance of Letters of Credit when issued and the use of proceeds thereof. 
 “Type” means with
respect to a Loan, its character as a Base Rate Loan or a Eurodollar Rate Loan. 
 “United States” and
“U.S.” mean the United States of America. 
 “Unreimbursed Amount” has the meaning specified
in Section 2.03(c)(i) and (ii). 
 “Wells Fargo Fee Letter” means that certain letter
agreement dated as of July 8, 2011, among the Borrowers and Wells Fargo Securities, LLC. 
 “Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

1.02. Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document: 
 (a) The meanings of defined terms are equally applicable to the singular and plural
forms of the defined terms. 

  

					
		 	19	 	Five-Year Credit Agreement

 (b) (i) The words “herein,” “hereto,”
“hereof” and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof. 

(ii) Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears.

 (iii) The term “including” is by way of example and not limitation. 

(iv) The term “documents” includes any and all instruments, documents, agreements, certificates, notices,
reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 
 (c) In the
computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but
excluding;” and the word “through” means “to and including.” 
 (d)
Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 

1.03. Accounting Terms. 
 (a) All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data required to be submitted pursuant to this Agreement shall be prepared
in conformity with, GAAP or SAP, as the case may be, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements or Statutory Statements, as of and for the year ended December 31,
2009, as applicable, except as otherwise specifically prescribed herein. 
 (b) If at any time any change in GAAP or SAP
would affect the computation of any requirement set forth in any Loan Document, and either the Borrowers or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrowers shall negotiate in good faith to amend such
requirement to preserve the original intent thereof in light of such change in GAAP or SAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such requirement shall continue to be computed in
accordance with GAAP or SAP, as applicable, as in effect prior to such change therein and (ii) the Borrowers shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as
reasonably requested hereunder setting forth a reconciliation between calculations of such requirement made before and after giving effect to such change in GAAP or SAP. 
 1.04. References to Agreements and Laws. Unless otherwise expressly provided herein, (a) references to agreements (including the Loan Documents) and other contractual instruments shall be
deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other modifications are not prohibited by any
Loan Document; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law. 

1.05. Days/Times of Day. Unless otherwise specified, (a) all references herein to a day shall be references to a calendar
day, and (b) all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 

  

					
		 	20	 	Five-Year Credit Agreement

 1.06. Letter of Credit Amounts. Unless otherwise specified, all references herein to
the amount of a Letter of Credit at any time shall be deemed to mean the Dollar Equivalent of the maximum face amount of such Letter of Credit after giving effect to all increases thereof that occur without amendment as the result of the occurrence
of a date, the passage of time or the occurrence or nonoccurrence of an event, as expressly set forth in such Letter of Credit or the Issuer Documents related thereto, whether or not such maximum face amount is in effect at such time. 

1.07. Exchange Rates; Currency Equivalents. 
 (a) The Fronting L/C Issuer shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent amounts of Fronted Letters of Credit denominated in the Alternative
Currency. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except as otherwise provided
herein, the applicable amount of the Alternative Currency for purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the Fronting L/C Issuer. 

(b) Wherever in this Agreement in connection with the issuance, amendment or extension of a Fronted Letter of Credit, an amount, such as
a required minimum or multiple amount, is expressed in Dollars, but such Fronted Letter of Credit is denominated in the Alternative Currency, such amount shall be the Alternative Currency Equivalent of such Dollar amount (rounded to the nearest unit
of such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the Fronting L/C Issuer. 
 ARTICLE
II. 
 THE COMMITMENTS AND CREDIT EXTENSIONS 
 2.01. Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Loan”) to the Borrowers from time to time, on any
Business Day during such Lender’s Availability Period, in Dollars and in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided, however, that after giving effect to any
Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Loans of any Lender, plus the Outstanding Amount of all L/C Obligations owing to such Lender (whether
as an issuer or as a participant) shall not exceed such Lender’s Commitment (except as provided in clauses (A), (D) and (E), as applicable, of Section 2.03(a)(i) for the Fronting L/C Issuer or a Limited
Fronting Lender). Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, any Borrower or all Borrowers may borrow under this Section 2.01, prepay under Section 2.04, and
reborrow under this Section 2.01. Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein. The obligations of the Borrowers to repay Loans and L/C Obligations shall be several, not joint. 

2.02. Borrowings, Conversions and Continuations of Loans. 

(a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made
upon a Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business Days prior to the requested date
of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans. Each telephonic notice by a
Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a 

  

					
		 	21	 	Five-Year Credit Agreement

 
Responsible Officer of a Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $10,000,000 or a whole multiple of $1,000,000 in
excess thereof. Except as provided in Section 2.03(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Loan Notice (whether
telephonic or written) shall specify (i) which Borrower is borrowing the Borrowing, (ii) whether a Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Loans,
(iii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iv) the principal amount of Loans to be borrowed, converted or continued, (v) the Type of Loans to be borrowed
or to which existing Loans are to be converted, and (vi) if applicable, the duration of the Interest Period with respect thereto. If a Borrower fails to specify a Type of Loan in a Loan Notice or if a Borrower fails to give a timely notice
requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with
respect to the applicable Eurodollar Rate Loans. If a Borrower requests a Borrowing of, conversion to or continuation of Eurodollar Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an
Interest Period of one month. 
 (b) Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each
Lender of the amount of its Pro Rata Share of the applicable Borrowing, and if no timely notice of a conversion or continuation is provided by the applicable Borrower, the Administrative Agent shall notify each Lender of the details of any automatic
conversion to Base Rate Loans described in the preceding Subsection. In the case of a Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s
Office not later than 1:00 p.m. on the Business Day specified in the applicable Loan Notice. As promptly as practicable, upon satisfaction of the applicable conditions set forth in Section 5.03, the Administrative Agent shall make all
funds so received available to the applicable Borrower in like funds as received by the Administrative Agent by either (i) crediting the account of the applicable Borrower on the books of Bank of America with the amount of such funds or
(ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the applicable Borrower; provided, however, that if, on the date the Loan Notice
with respect to such Borrowing is given by a Borrower, there are Unreimbursed Amounts of such Borrower outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of any such Unreimbursed Amounts, and
second, shall be made available to such Borrower as provided above. 
 (c) Except as otherwise provided herein, a
Eurodollar Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurodollar Rate Loan. If an Event of Default has occurred and is continuing and the Required Lenders through the Administrative Agent so notify
the Borrowers, then so long as such Event of Default is continuing, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans. 
 (d) The Administrative Agent shall promptly notify the applicable Borrower and the Lenders of the interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of such
interest rate. The determination of the Eurodollar Rate by the Administrative Agent shall be conclusive in the absence of manifest error. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrowers and the
Lenders of any change in Bank of America’s prime rate used in determining the Base Rate promptly following the public announcement of such change. 
 (e) After giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans of the same Type, there shall not at any one time be more than ten Interest
Periods in effect with respect to Loans, unless the Administrative Agent otherwise agrees. 

  

					
		 	22	 	Five-Year Credit Agreement

 2.03. Letters of Credit. 

(a) The Letter of Credit Commitment. 
 (i) Subject to the terms and conditions set forth herein, from time to time on any Business Day during the Availability Period, (A) the Fronting L/C Issuer agrees, in reliance upon the agreements of
the other Lenders set forth in this Section 2.03, (1) to issue Fronted Letters of Credit denominated in Dollars or in the Alternative Currency for the account of any Borrower or any of its Subsidiaries, and to amend or extend
Fronted Letters of Credit previously issued by it, and (2) to honor drawings under Fronted Letters of Credit; (B) each Lender agrees, through the Several L/C Agent, (1) to issue severally, and for itself alone, Several Letters of
Credit denominated in Dollars at the request of and for the account of any Borrower or any of its Subsidiaries in such Lender’s Pro Rata Share of the aggregate stated amounts of such Several Letters of Credit, and to amend or extend Several
Letters of Credit previously issued by it, and (2) to honor severally, and for itself alone, drawings under the Several Letters of Credit denominated in Dollars in an amount equal to its Pro Rata Share of such drawings; (C) the Lenders
severally agree to participate in Fronted Letters of Credit issued for the account of any Borrower or any of its Subsidiaries and any drawings thereunder in accordance with their Pro Rata Shares; (D) with respect to any Affected Lender or
Non-NAIC Approved Bank, as applicable, as a Participating L/C Issuer under any Several Letter of Credit to be issued pursuant hereto, each Limited Fronting Lender, in reliance upon the agreements of such Affected Lender or Non-NAIC Approved Bank, as
applicable, as a Participating L/C Issuer set forth in this Section 2.03, agrees to issue through the Several L/C Agent, in addition to or as a part of the Several Letters of Credit it has agreed to issue on its own behalf, severally any
such Several Letter of Credit, for the account of any Borrower or any of its Subsidiaries, in an amount equal to such Affected Lender’s or Non-NAIC Approved Bank’s, as applicable, Pro Rata Share of the stated amount of such Several Letter
of Credit, and to amend or extend each such Several Letter of Credit previously issued by it as a Limited Fronting Lender for such Participating L/C Issuer; and (E) with respect to any Several Letter of Credit issued by a Limited Fronting
Lender pursuant to clause (D) preceding, each applicable Affected Lender or Non-NAIC Approved Bank, as applicable, agrees to purchase participations in the obligations of such Limited Fronting Lender under such Several Letter of Credit
in an amount equal to all of the credit exposure of such Limited Fronting Lender (solely in its capacity as a Limited Fronting Lender for such Affected Lender or Non-NAIC Approved Bank, as applicable) under such Several Letter of Credit;
provided that after giving effect to any L/C Credit Extension, (x) the Total Outstandings shall not exceed the Aggregate Commitments, (y) the aggregate Outstanding Amount of the Loans of any Lender, plus the Outstanding
Amount of all L/C Obligations owing to such Lender (whether as an issuer or as a participant) shall not exceed such Lender’s Commitment (except as provided in clauses (A), (D) and (E), as applicable, above for the
Fronting L/C Issuer or a Limited Fronting Lender), and (z) the Dollar Equivalent of the outstanding amount of the Letters of Credit denominated in the Alternative Currency shall not exceed the Alternative Currency Sublimit. Each request by a
Borrower for the issuance or amendment or extension of a Letter of Credit shall be deemed to be a representation by such Borrower that the L/C Credit Extension so requested complies with the conditions set forth in this Agreement. Within the
foregoing limits, and subject to the terms and conditions hereof, the Borrowers’ ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrowers may, during the Availability Period, obtain Letters of Credit to
replace Letters of Credit that have expired or that have been drawn upon and reimbursed. If requested by the applicable Borrower but subject to the terms and conditions hereof, a Letter of Credit shall satisfy the requirements for letters of credit
under the credit-for-reinsurance provisions of the relevant beneficiary’s domiciliary state’s insurance laws and regulations (or the requirements for similar purposes of such other Governmental Authority

  

					
		 	23	 	Five-Year Credit Agreement

 
which then regulates the relevant beneficiary’s insurance business as may be specified by the applicable Borrower) as to which the applicable Borrower provides written notice to the Fronting
L/C Issuer or the Several L/C Agent, as applicable, and the Administrative Agent prior to the date of issuance of such Letter of Credit; provided, that the Fronting L/C Issuer or the Several L/C Agent, as applicable, the Administrative Agent
or any Lender shall not be obligated to verify such satisfaction. In addition, if requested by the applicable Borrower, but subject to the terms and conditions hereof, the Administrative Agent and the Fronting L/C Issuer agree to use commercially
reasonable efforts, and the Lenders authorize the Administrative Agent and the Fronting L/C Issuer to use such commercially reasonable efforts, at the expense of the applicable Borrower, to issue, or cause to be issued (including by one or more
foreign branches or affiliates of Bank of America), Fronted Letters of Credit (or confirmations thereof) denominated in the Alternative Currency in a form and with such terms and conditions as shall satisfy (or facilitate the satisfaction of) the
requirements for letters of credit under the provisions of the laws and regulations of a foreign jurisdiction (including insurance and banking regulations thereof) or as may otherwise be reasonably requested by the beneficiary thereof (including the
cedent of insurance liabilities); provided, that such issuance (or confirmation) is not, in the sole discretion of the Administrative Agent or the Fronting L/C Issuer, adverse to the interests of the Administrative Agent, the Fronting L/C
Issuer or the Lenders; and provided, further, that none of the Administrative Agent, the Fronting L/C Issuer or any of the Lenders shall be obligated to verify such satisfaction. From and after the Restatement Closing Date, the
Existing Letters of Credit that are Fronted Letters of Credit shall be deemed to have been issued pursuant to this Agreement by the Fronting L/C Issuer. The Existing Letters of Credit that are Several Letters of Credit shall be amended effective as
of the Restatement Closing Date so that the liability of the Lenders under such Several Letters of Credit from and after the Restatement Closing Date shall be in accordance with the Lenders’ respective Pro Rata Shares and such Several Letters
of Credit, as so amended, shall be deemed to have been issued pursuant to this Agreement. 
 (ii) Neither the
Fronting L/C Issuer, the Several L/C Agent nor the Lenders, as applicable, shall issue any Letter of Credit, if: 

(A) subject to Section 2.03(b)(v), the expiry date of such Letter of Credit would occur more than twelve
months after the date of issuance or last extension, unless the Required Lenders have approved such expiry date; or 
 (B) the expiry date of such Letter of Credit would occur more than twelve months after the Maturity Date, unless all the Lenders have approved such expiry date; 

(iii) Neither the Fronting L/C Issuer, the Several L/C Agent nor any Lender, as applicable, shall be under any obligation
to issue any Letter of Credit if: 
 (A) any order, judgment or decree of any Governmental Authority or
arbitrator shall by its terms purport to enjoin or restrain the Fronting L/C Issuer, the Several L/C Agent or, if the Administrative Agent has been notified thereof by such Lender, any Lender from issuing such Letter of Credit, or any Law applicable
to the Fronting L/C Issuer, the Several L/C Agent or, if the Administrative Agent has been notified thereof by such Lender, any Lender or any request or directive (whether or not having the force of law) from any Governmental Authority with
jurisdiction over the Fronting L/C Issuer, the Several L/C Agent or, if the Administrative Agent has been notified thereof by such Lender, any Lender shall prohibit, or request that the Fronting L/C Issuer, the Several L/C Agent or, if the
Administrative Agent has been notified thereof by such Lender, any Lender refrain from, the issuance of letters of credit 

  

					
		 	24	 	Five-Year Credit Agreement

 
generally or such Letter of Credit in particular or shall impose upon the Fronting L/C Issuer, the Several L/C Agent or, if the Administrative Agent has been notified thereof by such Lender, any
Lender with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the Fronting L/C Issuer, the Several L/C Agent or, if the Administrative Agent has been notified thereof by such Lender, any Lender is not
otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the Fronting L/C Issuer, the Several L/C Agent or, if the Administrative Agent has been notified thereof by such Lender, any Lender any unreimbursed loss, cost
or expense which was not applicable on the Closing Date and which the Fronting L/C Issuer, the Several L/C Agent or, if the Administrative Agent has been notified thereof by such Lender, any Lender in good faith deems material to it; 

(B) the issuance of such Letter of Credit would violate one or more policies of the Fronting L/C Issuer, the Several L/C
Agent or if the Administrative Agent has been notified thereof by such Lender, any Lender, as applicable, applicable to letters of credit generally; 
 (C) except as otherwise agreed by the Fronting L/C Issuer or the Several L/C Agent, as applicable, such Letter of Credit is in an initial amount of less than $1,000,000; 

(D) after the issuance of such Letter of Credit, more than sixty Letters of Credit would be outstanding unless the
Borrowers, the Fronting L/C Issuer and the Several L/C Agent otherwise agree; 
 (E) such Letter of Credit is to
be a Several Letter of Credit and is to be denominated in a currency other than Dollars; 
 (F) such Letter of
Credit is to be a Fronted Letter of Credit and is to be denominated in a currency other than Dollars or the Alternative Currency; 
 (G) such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder; or 

(H) if such Letter of Credit is a Fronted Letter of Credit or a Several Letter of Credit in respect of which there is a
Limited Fronting Lender, any Lender is a Defaulting Lender thereunder, unless the Fronting L/C Issuer or the applicable Limited Fronting Lender, as applicable, has entered into arrangements satisfactory to it (including, without limitation,
arrangements for the provision of Risk Participation Cash Collateral) with the Borrowers or such Defaulting Lender to eliminate the Fronting L/C Issuer’s or the applicable Limited Fronting Lender’s, as applicable, risk with respect to such
Defaulting Lender; provided, that, if the Borrowers provide Risk Participation Cash Collateral with respect to a Letter of Credit requested to be issued hereunder, the Fronting L/C Issuer or the applicable Limited Fronting Lender, as
applicable, shall not be entitled to rely on this clause as justification for not issuing such Letter of Credit. To the extent that the Borrowers provide Risk Participation Cash Collateral, the Borrowers hereby grant to the Administrative Agent, for
the benefit of the Fronting L/C Issuer or the applicable Limited Fronting Lender, as applicable, a security interest in all deposit accounts and all balances therein constituting such Risk Participation Cash Collateral and all proceeds of the
foregoing solely as security for the purposes described under Section 2.03(c)(i) hereof. Such Risk Participation Cash Collateral shall be maintained in blocked transaction accounts with the Administrative Agent; provided that (1) in
the event that any Lender on 

  

					
		 	25	 	Five-Year Credit Agreement

 
account of whom such Risk Participation Cash Collateral was delivered shall no longer be a Defaulting Lender, the Administrative Agent shall return to the pledgor such portion of Risk
Participation Cash Collateral attributable to such Lender, (2) in the event that any Lender on account of whom such Risk Participation Cash Collateral was delivered shall have its Commitment reduced, the Administrative Agent shall return to the
pledgor such portion of the Risk Participation Cash Collateral attributable to such Lender in proportion to the amount by which such Lender’s Commitment is so reduced, (3) in the event that the applicable Letter of Credit on account of
which such Risk Participation Cash Collateral was delivered expires or is drawn upon, and such drawing has been reimbursed by the Borrower, the Administrative Agent shall return to the pledgor such portion of the Risk Participation Cash Collateral
attributable to such expired Letter of Credit or such reimbursed drawing, as applicable, and (4) to the extent the Borrowers provide Risk Participation Cash Collateral, such Risk Participation Cash Collateral shall be applied to satisfy
drawings under the Letters of Credit as they occur. 
 (iv) Neither the Fronting L/C Issuer, the Several L/C
Agent nor any Lender, as applicable, shall amend or extend any Letter of Credit if it would not be permitted at such time to issue such Letter of Credit in its amended form under the terms hereof. 

(v) Neither the Fronting L/C Issuer, the Several L/C Agent nor any Lender, as applicable, shall be under any obligation to
amend any Letter of Credit if (A) the Fronting L/C Issuer, the Several L/C Agent or such Lender, as applicable, would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the
beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 
 (vi)
Each Lender shall promptly notify the Administrative Agent (which shall in turn notify the Several L/C Agent and the Borrowers) upon becoming an Affected Lender with respect to a particular Several Letter of Credit. In the absence of receipt by the
Administrative Agent of such notice by a Lender that it has become an Affected Lender with respect to a particular Several Letter of Credit, it shall be conclusively presumed by the Administrative Agent and the Several L/C Agent that such Lender is
not an Affected Lender with respect to such Several Letter of Credit. If such notice is given by an Affected Lender with respect to a particular Several Letter of Credit, such notice shall not be effective as a like notice with respect to any other
Several Letter of Credit. If such notice is given by an Affected Lender with respect to a particular Several Letter of Credit, upon the Borrowers’ request (A) Bank of America will act as the Limited Fronting Lender for such Affected Lender
with respect to the applicable Several Letter of Credit, or (B) another Lender may agree to act as the Limited Fronting Lender for such Affected Lender with respect to the applicable Several Letter of Credit upon such terms and conditions as
such Affected Lender and such other Lender may agree. 
 (b) Procedures for Issuance and Amendment of Letters of Credit;
Auto-Extension Letters of Credit. 
 (i) Each Letter of Credit shall be issued or amended, as the case may be,
upon the request of the Applicant, and, if a Subsidiary of MetLife (other than Funding) is the Applicant, MetLife, as Co-Applicant, by the delivery to (A) the Fronting L/C Issuer, in the case of Fronted Letters of Credit, (B) the Several
L/C Agent, in the case of Several Letters of Credit, and (C) the Administrative Agent (which shall promptly notify the Lenders of such request, in the case of a Several Letter of Credit), in each case, of a writing in the form of a Letter of
Credit Application, appropriately completed and signed by a Responsible Officer of the Applicant and, if a 

  

					
		 	26	 	Five-Year Credit Agreement

 
Subsidiary of MetLife (other than Funding) is the Applicant, MetLife. Such Letter of Credit Application must be received by the Fronting L/C Issuer or the Several L/C Agent, as applicable, and
the Administrative Agent (A) not later than 11:00 a.m. at least two Business Days prior to the proposed issuance date or date of amendment (or such shorter time as the Administrative Agent and the Fronting L/C Issuer may agree in a particular
instance in their sole discretion), as the case may be of any Fronted Letter of Credit, and (B) not later than 11:00 a.m. at least three Business Days prior to the proposed issuance date or date of amendment (or such shorter time as the
Administrative Agent and the Several L/C Agent may agree in a particular instance in their sole discretion), as the case may be, of any Several Letter of Credit. In the case of a request for an initial issuance of a Letter of Credit, such Letter of
Credit Application shall specify in form and detail satisfactory to the Fronting L/C Issuer or the Several L/C Agent, as applicable: (A) who is the Applicant and, if the Applicant is a Subsidiary of MetLife (other than Funding), that MetLife is
the Co-Applicant; (B) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (C) the amount, and, with respect to a Fronted Letter of Credit, currency, thereof; (D) the expiry date thereof;
(E) the name and address of the beneficiary thereof; (F) the documents to be presented by such beneficiary in case of any drawing thereunder; (G) the full text of any certificate to be presented by such beneficiary in case of any
drawing thereunder; (H) the purpose and nature of the requested Letter of Credit; (I) whether such Letter of Credit is to be issued as a Fronted Letter of Credit or a Several Letter of Credit and, if such Letter of Credit is to be issued
as a Several Letter of Credit, whether there is to be a Limited Fronting Lender (and if there is a Limited Fronting Lender other than Bank of America, the name of such Limited Fronting Lender); and (J) such other matters as the Fronting L/C
Issuer, the Several L/C Agent, or any Lender (through the Administrative Agent), as applicable, may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in
form and detail satisfactory to the Fronting L/C Issuer or the Several L/C Agent, as applicable, (w) the Letter of Credit to be amended; (x) the proposed date of amendment thereof (which shall be a Business Day); (y) the nature of the
proposed amendment; and (z) such other matters as the Fronting L/C Issuer, the Several L/C Agent or any Lender (through the Administrative Agent), as applicable, may reasonably require. Additionally, the Applicant shall furnish to the Fronting
L/C Issuer or the Several L/C Agent, as applicable, and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the Fronting L/C
Issuer, the Several L/C Agent, or any Lender (through the Administrative Agent), as applicable, may reasonably require. 
 (ii) Promptly after receipt of any Letter of Credit Application, the Fronting L/C Issuer or the Several L/C Agent, as applicable, will confirm with the Administrative Agent (by telephone or in writing)
that the Administrative Agent has received a copy of such Letter of Credit Application from the Applicant and, if applicable, MetLife, as the Co-Applicant, and, if not, the Fronting L/C Issuer or the Several L/C Agent, as applicable, will provide
the Administrative Agent with a copy thereof. Unless the Fronting L/C Issuer or the Several L/C Agent, as applicable, has received written notice from any Lender, the Administrative Agent or any Borrower, at least one Business Day prior to the
requested date of issuance or amendment of the applicable Letter of Credit, that such Letter of Credit is not permitted to be issued hereunder or that one or more applicable conditions contained in Article V shall not then be satisfied, then,
subject to the terms and conditions hereof, the Fronting L/C Issuer or the Several L/C Agent, as applicable, shall, on the requested date, issue a Letter of Credit for the account of the applicable Borrower (or the applicable Subsidiary) or enter
into the applicable amendment, as the case may be, in each case in accordance with the Fronting L/C Issuer’s or the Several L/C Agent’s, as applicable, usual and customary business practices. 

  

					
		 	27	 	Five-Year Credit Agreement

 (iii) The Several L/C Agent is hereby authorized to execute and deliver each
Several Letter of Credit and each amendment to a Several Letter of Credit on behalf of each Lender and to otherwise act on behalf of each Lender with respect to each Several Letter of Credit. The Several L/C Agent shall use the Pro Rata Share of
each Lender as its “Commitment Share” (or equivalent term) under each Several Letter of Credit; provided that the applicable Limited Fronting Lender, in its capacity as such, shall, in addition to its own “Commitment Share” as a
Lender, have a “Commitment Share” (or equivalent term) equal to the Pro Rata Share of each Participating L/C Issuer for which such Limited Fronting Lender serves in such capacity under such Several Letter of Credit. The Several L/C Agent
is hereby authorized to amend a Several Letter of Credit to change the “Commitment Share” (or equivalent term) of a Lender or add or delete a Lender liable thereunder in connection with an assignment or any other addition or replacement of
a Lender in accordance with the terms of this Agreement. In the event a Lender becomes a Participating L/C Issuer or ceases to be a Participating L/C Issuer, the Several L/C Agent is hereby authorized to amend each Several Letter of Credit to
reflect such change in status and to change the “Commitment Share” (or equivalent term) of the applicable Limited Fronting Lender, as the case may be. Each Lender hereby irrevocably constitutes and appoints the Several L/C Agent its true
and lawful attorney-in-fact for and on behalf of such Lender with full power of substitution and revocation in its own name or in the name of the Several L/C Agent for the limited purpose of issuing, executing and delivering, as the case may be,
each Several Letter of Credit and each amendment to a Several Letter of Credit and for carrying out the purposes of this Agreement with respect to Several Letters of Credit. 

(iv) It is the intention and agreement of the Administrative Agent, the Lenders and the Several L/C Agent that
(A) except as otherwise expressly set forth herein (including with respect to Limited Fronting Lenders), the rights and obligations of the Lenders in respect of outstanding Several Letters of Credit shall be determined in accordance with the
Pro Rata Shares of the Lenders from time to time in effect and (B) outstanding Several Letters of Credit shall be promptly amended to reflect any changes in the Pro Rata Shares of the Lenders, whether arising in connection with an assignment
pursuant to Section 10.07, an increase of the Aggregate Commitments pursuant to Section 2.13, or any other event or circumstance resulting in a change in the Pro Rata Shares of the Lenders under this Agreement. However, it is
acknowledged by the Administrative Agent, the Lenders and the Several L/C Agent that amendments of outstanding Several Letters of Credit may not be immediately effected and may be subject to the consent of the beneficiaries of such Several Letters
of Credit. Accordingly, whether or not Several Letters of Credit are amended as contemplated hereby, the Lenders agree that they shall purchase and sell participations or otherwise make or effect such payments among themselves (but through the
Administrative Agent) so that payments by the Lenders of drawings under Several Letters of Credit and payments by the Borrowers of Unreimbursed Amounts and interest thereon are, except as otherwise expressly set forth herein (including with respect
to Limited Fronting Lenders and Defaulting Lenders), in each case shared by the Lenders in accordance with the Pro Rata Shares of the Lenders from time to time in effect. 

(v) If an Applicant so requests in any applicable Letter of Credit Application, the Fronting L/C
Issuer or the Several L/C Agent (on behalf of the Lenders), as applicable, will issue or amend a Letter of Credit (including any Existing Letter of Credit) to provide for automatic extension provisions (each, an “Auto-Extension Letter of
Credit”); provided that any such Auto-Extension Letter of Credit must permit the Fronting L/C Issuer or the Several L/C Agent, as applicable, to prevent any such extension by giving notice to the beneficiary thereof prior to the
thirtieth (30th) day (or such other day, not longer
than the ninetieth (90th) day, as an Applicant may
request) preceding the then current expiration date of such Letter of Credit (the “Non-Extension Notice Date”). The Applicant (or, if applicable, MetLife as the Co-Applicant) shall not

  

					
		 	28	 	Five-Year Credit Agreement

 
be required to make a specific request to the Fronting L/C Issuer or the Several L/C Agent, as applicable, for any such extension. Once an Auto-Extension Letter of Credit has been issued, the
Lenders shall be deemed to have authorized the Fronting L/C Issuer or the Several L/C Agent, as applicable, to permit the extension of such Letter of Credit to an expiry date not later than twelve months from the then existing expiry date and in any
event not later than twelve months after the Maturity Date; provided, however, that the Fronting L/C Issuer or the Several L/C Agent, as applicable, shall not permit any such extension if (A) the Fronting L/C Issuer or the Several
L/C Agent (on behalf of the Lenders), as applicable, has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the
provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), and the Fronting L/C Issuer or the Several L/C Agent, as applicable, has provided notice thereof to the Borrowers no later than the
Non-Extension Notice Date, or (B) it has received notice on or before the day that is five Business Days before the Non-Extension Notice Date from the Administrative Agent, any Lender or any Borrower that one or more of the applicable
conditions specified in Section 5.03 is not then satisfied (or, in the case of any Borrower, that such Borrower does not want such Letter of Credit to be extended), and in each such case directing the Fronting L/C Issuer or the Several
L/C Agent, as applicable, not to permit such extension. 
 (vi) Promptly after its delivery of any Letter of
Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the Fronting L/C Issuer or the Several L/C Agent, as applicable, will also deliver to the applicable Borrower and the
Administrative Agent a true and complete copy of such Letter of Credit or amendment. Within 15 days after the end of each calendar month, the Administrative Agent will deliver to each of the Lenders and the Borrowers a written report setting forth
the Letters of Credit that were issued and outstanding as of the last day of such calendar month. 
 (c) Drawings and
Reimbursements; Fundings. 
 (i) Upon receipt from the beneficiary of any Fronted Letter of Credit of any notice
of a drawing under such Fronted Letter of Credit, the Fronting L/C Issuer shall, promptly and in any event at least one Business Day before the date (the “Honor Date”) on which the Fronting L/C Issuer anticipates that payment of
such drawing will be made, notify the applicable Borrower and the Administrative Agent thereof. Not later than 2:30 p.m. on the Honor Date, so long as the applicable Borrower has received notice of such payment from the Fronting L/C Issuer or the
Administrative Agent by 10:00 a.m. on such Honor Date and, otherwise, not later than 2:30 p.m. on the following Business Day, the applicable Borrower shall reimburse the Fronting L/C Issuer through the Administrative Agent an amount equal to the
amount of such drawing (such amount, the “Unreimbursed Amount”) in the currency in which such drawing was paid; provided that, in the case of a Fronted Letter of Credit denominated in the Alternative Currency, (A) the
Fronting L/C Issuer (at its option) may specify in such notice that it will require reimbursement in Dollars, or (B) in the absence of any such requirement for reimbursement in Dollars, the applicable Borrower may notify the Fronting L/C Issuer
promptly following receipt of the notice of drawing that such Borrower will reimburse the Fronting L/C Issuer in Dollars. In the case of any such reimbursement in Dollars of a drawing under a Fronted Letter of Credit denominated in the Alternative
Currency, (A) the amount of such reimbursement shall be equal to the Dollar Equivalent of the amount of such drawing, determined and calculated as of the date of such reimbursement and (B) the Fronting L/C Issuer shall notify the
applicable Borrower of such Dollar Equivalent promptly following the determination thereof. If the applicable Borrower fails to make such reimbursement by the required time, the Administrative Agent shall promptly notify each Lender of the Honor
Date, the Unreimbursed Amount (which, if such Unreimbursed 

  

					
		 	29	 	Five-Year Credit Agreement

 
Amount is denominated in the Alternative Currency, shall automatically be converted from the Alternative Currency to Dollars in an amount equal to the Dollar Equivalent thereof), and the amount
of such Lender’s Pro Rata Share thereof. Each Lender shall, upon any notice pursuant to this Section 2.03(c)(i), in purchase of its participation in such Unreimbursed Amount, make funds available to the Administrative Agent for the
account of the Fronting L/C Issuer at the Administrative Agent’s Office in an amount equal to such Lender’s Pro Rata Share of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the
Administrative Agent. If any Defaulting Lender shall fail to make such funds available, any Risk Participation Cash Collateral delivered on account of such Defaulting Lender for the respective Fronted Letter of Credit shall be applied by the
Administrative Agent to the reimbursement of the Fronting L/C Issuer as required hereunder. The Administrative Agent shall remit the funds so received or applied to the Fronting L/C Issuer. Any notice given by the Fronting L/C Issuer or the
Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect
of such notice. 
 (ii) Upon receipt from the beneficiary of any Several Letter of Credit of any notice of a
drawing under such Several Letter of Credit, the Several L/C Agent shall notify the Administrative Agent, and the Administrative Agent shall notify the applicable Borrower and the Lenders, thereof, which notices shall be given promptly and in any
event at least one Business Day before the date (also the “Honor Date”) on which the Several L/C Agent anticipates that payment of such drawing will be made. Not later than 10:00 a.m. on the Honor Date and without further notice or
demand by the Several L/C Agent or the Administrative Agent, (A) each Lender (including each Limited Fronting Lender) shall make funds available to the Administrative Agent at the Administrative Agent’s Office in an amount equal to its Pro
Rata Share (and, in the case of each Limited Fronting Lender, the Pro Rata Share of each applicable Participating L/C Issuer) of the drawing under such Several Letter of Credit and, (B) in the event a Limited Fronting Lender pays the Pro Rata
Share of a Participating L/C Issuer, such Participating L/C Issuer shall pay such Pro Rata Share to such Limited Fronting Lender in purchase of its participation in such payment. Not later than 2:30 p.m. on the Honor Date, so long as the applicable
Borrower has received notice of payment under such Several Letter of Credit from the Several L/C Agent or the Administrative Agent by 10:00 a.m. on the Honor Date and, otherwise, not later than 2:30 p.m. on the following Business Day the applicable
Borrower shall pay to the Lenders through the Administrative Agent an amount equal to the amount of such drawing (such amount, also the “Unreimbursed Amount”). Any notice given by the Several L/C Agent or the Administrative Agent
pursuant to this Section 2.03(c)(ii) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

 (iii) In the event the applicable Borrower fails to pay any Unreimbursed Amount as required by clause
(i) or (ii) above, the applicable Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on the Business Day such Unreimbursed Amount is due in an amount equal to such Unreimbursed Amount,
without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in
Section 5.03 (other than the delivery of a Loan Notice). Each Borrowing made pursuant to this Section 2.03(c)(iii) shall be applied by the Administrative Agent to pay the related Unreimbursed Amount. 

(iv) With respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing of Base Rate Loans because the
conditions set forth in Section 5.03 cannot be satisfied 

  

					
		 	30	 	Five-Year Credit Agreement

 
or for any other reason, such Unreimbursed Amount (together with interest) shall be immediately due and payable by the applicable Borrower without further demand. 

(v) Notwithstanding the date on which an Unreimbursed Amount is payable by the applicable Borrower pursuant to
Section 2.03(c)(i) or (ii), if an Unreimbursed Amount is not paid by the applicable Borrower by 2:30 p.m. on the applicable Honor Date (whether through a Borrowing of Base Rate Loans or otherwise), each Unreimbursed Amount shall
bear interest from the applicable Honor Date to the date that such Unreimbursed Amount is paid by the applicable Borrower (whether through a Borrowing of Base Rate Loans or otherwise) at a rate equal to the Base Rate plus the Applicable Rate for
Base Rate Loans plus 2% per annum. 
 (vi) Until a Lender funds its obligation pursuant to this
Section 2.03(c), interest in respect of such Lender’s Pro Rata Share of any Unreimbursed Amount shall be solely for the account of the Fronting L/C Issuer or the Several L/C Agent (if the Several L/C Agent has funded on behalf of
such Lender, as provided in Section 2.03(c)(viii)), as applicable. 
 (vii) Each Lender’s
obligation to fund its obligations pursuant to this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any set-off, counterclaim, recoupment, defense or other right
which such Lender may have against the Fronting L/C Issuer or the Several L/C Agent, as applicable, the Administrative Agent, any Borrower, any other Applicant or any other Person for any reason whatsoever; (B) the occurrence or continuance of
a Default; or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Loans pursuant to this Section 2.03(c) is
subject to the conditions set forth in Section 5.03 (other than delivery by the applicable Borrower of a Loan Notice). No such funding by any Lender shall relieve or otherwise impair the obligation of the applicable Borrower to pay each
Unreimbursed Amount, together with interest as provided herein. 
 (viii) If any Lender fails to make available
to the Administrative Agent any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(i) or Section 2.03(c)(ii), as
applicable, the Fronting L/C Issuer or the Several L/C Agent (to the extent that the Several L/C Agent shall have funded such amount on behalf of such Lender, it being understood and agreed that the Several L/C Agent shall have no obligation or
liability to fund any amount under any Several Letter of Credit other than in its capacity as a Lender), as applicable, shall, through the Administrative Agent, be entitled to recover from such Lender, on demand, such amount with interest thereon
for the period from the date such payment is required to the date on which such payment is immediately available to the Administrative Agent at a rate per annum equal to the Federal Funds Rate from time to time in effect. A certificate of the
Administrative Agent with respect to any amounts owing under this clause (viii) shall be conclusive absent manifest error. 
 (d) Repayment of Fundings. 
 (i) If after any Lender has funded its
obligation under Section 2.03(c) in respect of any drawing under any Letter of Credit, the Administrative Agent receives any payment (including any payment of interest) in respect of the related Unreimbursed Amount (whether directly from
the applicable Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), then the Administrative Agent will distribute to such Lender its Pro Rata Share (or other applicable share as provided herein)
thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s funding was outstanding) in the same funds as those received by the Administrative

  

					
		 	31	 	Five-Year Credit Agreement

 
Agent. If any Lender has not funded its obligation as aforesaid, such Lender’s Pro Rata Share (or other applicable share as provided herein) of such payment shall be paid to the Fronting L/C
Issuer or the Several L/C Agent (if the Several L/C Agent shall have funded on behalf of such Lender, as provided in Section 2.03(c)(viii)), as applicable. 

(ii) If any payment made by the Administrative Agent to the Lenders pursuant to Section 2.03(d)(i) is required
to be returned under any of the circumstances described in Section 10.06 (including pursuant to any settlement), each Lender shall pay to the Administrative Agent its Pro Rata Share (or other applicable share as provided herein) thereof
on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect. 

(e) Obligations Absolute. The obligation of the applicable Borrower to pay each Unreimbursed Amount shall be absolute,
unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following: 
 (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document; 
 (ii) the existence of any claim, counterclaim, set-off, defense or other right that such Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit
(or any Person for whom any such beneficiary or any such transferee may be acting), the Fronting L/C Issuer, the Several L/C Agent, any Lender, the Administrative Agent or any other Person, whether in connection with this Agreement, the transactions
contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 
 (iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue
or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit; 

(iv) any payment by the Fronting L/C Issuer or the Lenders under such Letter of Credit against presentation of a draft or
certificate that does not strictly comply with the terms of such Letter of Credit or any payment made by the Fronting L/C Issuer or the Lenders, as applicable, under such Letter of Credit to any Person purporting to be a trustee in bankruptcy,
debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under
any Debtor Relief Law; 
 (v) any adverse change in the relevant currency exchange rates or in the availability
of the Alternative Currency to the Borrowers or in the relevant currency markets generally; or 
 (vi) any other
circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, such Borrower or any Subsidiary. 

Each Borrower and any other Applicant shall promptly examine a copy of each Letter of Credit and each amendment thereto requested by such
Borrower and such Applicant that is delivered to it and, in the event of any claim of noncompliance with such Borrower’s or such Applicant’s instructions or other 

  

					
		 	32	 	Five-Year Credit Agreement

 
irregularity, such Borrower or such Applicant will notify the Fronting L/C Issuer (with respect to Fronted Letters of Credit) or the Several L/C Agent (with respect to Several Letters of Credit)
within two Business Days of receipt of such Letter of Credit or amendment. Such Borrower and such Applicant shall be conclusively deemed to have waived any such claim against the Fronting L/C Issuer, the Several L/C Agent or the Lenders, as
applicable, unless such notice is given as aforesaid. 
 (f) Role of Fronting L/C Issuer and Several L/C Agent. Each
Lender and each Borrower agree that, in paying any drawing under a Letter of Credit, neither the Fronting L/C Issuer nor the Several L/C Agent shall have any responsibility to obtain any document (other than any sight draft, certificates and
documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. Neither the Fronting L/C Issuer nor the
Several L/C Agent, any Agent-Related Person nor any of the respective correspondents, participants or assignees of the Fronting L/C Issuer or the Several L/C Agent shall be liable to any Lender for (i) any action taken or omitted in connection
herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness,
validity or enforceability of any Issuer Document. Each Borrower and any other Applicant hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided,
however, that this assumption is not intended to, and shall not, preclude such Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the Fronting
L/C Issuer, the Several L/C Agent, any Agent-Related Person nor any of the respective correspondents, participants or assignees of the Fronting L/C Issuer or the Several L/C Agent shall be liable or responsible for any of the matters described in
clauses (i) through (v) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, the applicable Borrower (or any other applicable Applicant) may have a
claim against the Fronting L/C Issuer or the Several L/C Agent, as applicable, and Fronting L/C Issuer or the Several L/C Agent, as applicable, may be liable to such Borrower or such Applicant, to the extent, but only to the extent, of any direct,
as opposed to consequential or exemplary, damages suffered by such Borrower or such Applicant which such Borrower or such Applicant proves were caused primarily by the Fronting L/C Issuer’s or the Several L/C Agent’s, as applicable,
willful misconduct or gross negligence or the Fronting L/C Issuer’s or the Several L/C Agent’s, as applicable, willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and
certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the Fronting L/C Issuer or the Several L/C Agent, as applicable, may accept documents that appear on their
face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the Fronting L/C Issuer or the Several L/C Agent, as applicable, shall not be responsible for the validity or
sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any
reason. 
 (g) Cash Collateral. Upon the request of the Administrative Agent (given at the request or with the consent of
the Required Lenders), if, as of the date that is twelve months after the Maturity Date (and from time to time thereafter, but no more often than once every thirty days, in the event of subsequent currency fluctuations), any Letter of Credit for any
reason remains outstanding and partially or wholly undrawn, the applicable Borrower shall immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations (in an amount equal to such Outstanding Amount at such time).
Sections 2.04 and 8.02(c) set forth certain additional requirements to deliver Cash Collateral hereunder. For purposes of this Section 2.03, Section 2.04 and Section 8.02(c), “Cash
Collateralize” means to pledge to the Administrative Agent, for the benefit of the Fronting L/C Issuer and/or the Lenders, as applicable, as collateral for the L/C Obligations, deposit account balances denominated in Dollars or, at the
applicable Borrower’s option if the Letter(s) of Credit giving rise to such L/C Obligations are 

  

					
		 	33	 	Five-Year Credit Agreement

 
denominated in Euros, in Euros and maintained with the Administrative Agent pursuant to documentation in form and substance satisfactory to the Administrative Agent (which documents are hereby
consented to by the Lenders). Derivatives of “Cash Collateralize” shall have corresponding meanings. Each Borrower hereby grants to the Administrative Agent, for the benefit of the Fronting L/C Issuer or the Lenders, as applicable, a
security interest in all such deposit accounts and all balances therein and all proceeds of the foregoing delivered by such Borrower as Cash Collateral. Cash Collateral shall be maintained in a blocked deposit account at Bank of America. 

(h) Applicability of ISP98. Unless otherwise expressly agreed by the Fronting L/C Issuer or the Several L/C Agent, as applicable,
and the applicable Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each Letter of Credit. 
 (i) Letter of Credit Fees. Each Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share a Letter of Credit fee (the “Letter of
Credit Fee”) for each Letter of Credit issued for the account of such Borrower equal to the Applicable Rate (converted to a daily rate) times the Dollar Equivalent of the daily maximum amount available to be drawn under such Letter
of Credit. Letter of Credit Fees shall be (i) computed on a quarterly basis in arrears and (ii) due and payable on the 20th day (or, if such day is not a Business Day, the next Business Day) of each March, June, September and December,
commencing with the first such date to occur after the issuance of such Letter of Credit, on the Maturity Date, on the date that is twelve months after the Maturity Date and thereafter on demand. If there is any change in the Applicable Rate during
any quarter, the daily maximum amount of each Letter of Credit shall be multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained
herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 
 (j) Fronting Fee and Documentary and Processing Charges. Each Borrower shall pay directly to the Fronting L/C Issuer for its own account a fronting fee (converted to a daily rate) with respect to
each Letter of Credit with respect to which it is the Applicant or the Co-Applicant in the amount specified in the Bank of America Fee Letter, payable on the Dollar Equivalent of the actual daily maximum amount available to be drawn under such
Letter of Credit. Such fronting fee shall be computed on a quarterly basis in arrears. Such fronting fee shall be due and payable on the 20th day (or, if such day is not a Business Day, the next Business Day) of each March, June, September and December,
commencing with the first such date to occur after the issuance of such Letter of Credit, on the Maturity Date, on the date that is twelve months after the Maturity Date and thereafter on demand. In addition, each Borrower shall pay directly to the
Fronting L/C Issuer or the Several L/C Agent, as applicable, for its own account the customary issuance, presentation, amendment and other processing fees, and other standard and reasonable costs and charges, of the Fronting L/C Issuer or the
Several L/C Agent, as applicable, relating to each Letter of Credit as from time to time in effect. In respect of any period that, pursuant to Section 2.03(a)(vi) or Section 2.14, Bank of America acts as a Limited Fronting
Lender or as a Confirming Bank for any Lender that becomes an Affected Lender or a Non-NAIC Approved Bank, as applicable, the Letter of Credit Fee payable to such Lender shall be reduced by 0.25% per annum (or such lesser percentage as Bank of
America may agree) and Bank of America shall receive the amount of such reduction from each Borrower for its own account as a fronting fee or confirmation fee, as applicable. In the event that, pursuant to Section 2.03(a)(vi) or
Section 2.14, any other Lender agrees to act as a Limited Fronting Lender or Confirming Bank for any Lender that becomes an Affected Lender or a Non-NAIC Approved Bank, such other Lender shall receive such compensation therefor as such
Affected Lender or Non-NAIC Approved Bank and such other Lender may agree. 
 (k) Conflict with Issuer Documents. In the
event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control. 

  

					
		 	34	 	Five-Year Credit Agreement

 (l) Letters of Credit Issued for Subsidiaries. MetLife, as Co-Applicant, shall be
obligated to pay each Unreimbursed Amount and accrued interest thereon with respect to each Letter of Credit that is issued or outstanding hereunder in support of any obligations of, or is for the account of, any Subsidiary of MetLife (other than
Funding). MetLife hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of MetLife, and that MetLife’s business derives substantial benefits from the businesses of such
Subsidiaries. 
 (m) Defaulting Lender Cure. If the Borrowers, the Administrative Agent and the Fronting L/C Issuer agree
in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include
arrangements with respect to any Risk Participation Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or will take such actions as the Administrative Agent may
determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held pro rata by the Lenders in accordance with their respective Commitments, whereupon such Lender will cease to be a Defaulting Lender;
provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrowers while that Lender was a Defaulting Lender; and provided, further, that except to the extent
otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 2.04. Prepayments. 
 (a) Any Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Loans in whole or in part without premium or penalty; provided that (i) such
notice must be received by the Administrative Agent not later than 11:00 a.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment
of Eurodollar Rate Loans shall be in a principal amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of
$1,000,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will
promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s pro rata share of such prepayment. If such notice is given by any Borrower, such Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein; provided, that a notice of prepayment may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such
notice may be revoked by such Borrower (by notice to the Administrative Agent on or prior to the specified date of prepayment) if such condition is not satisfied. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest
thereon, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective pro rata shares of such prepayment. 

(b) If for any reason (including currency fluctuations) the Total Outstandings at any time exceed 100% of the Aggregate Commitments then
in effect, the Borrowers shall immediately (or within two Business Days after notice thereof from the Administrative Agent if such excess is caused by currency fluctuations), first, prepay Loans and, second, Cash Collateralize the L/C Obligations in
an aggregate amount equal to such excess; provided, however, that no Borrower shall be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.04(b) unless after the prepayment in full of the Loans the
Total Outstandings exceed the Aggregate Commitments then in effect. 

  

					
		 	35	 	Five-Year Credit Agreement

 (c) Without limiting clause (z) of the first proviso of
Section 2.03(a)(i), if, as a result of currency fluctuations, the Outstanding Amount of L/C Obligations issued by the Fronting L/C Issuer (except in its capacity as a Limited Fronting Lender) and denominated in the Alternative Currency
at any time exceeds 105% of the Alternative Currency Sublimit (but not, for the avoidance of doubt, for any excess less than or equal to 105% of the Alternative Currency Sublimit), the applicable Borrower shall, at the request of the Fronting L/C
Issuer and within two Business Days after such request, either: (i) Cash Collateralize the amount of such excess above the Alternative Currency Sublimit; or (ii) cause one or more of the outstanding Letters of Credit to be cancelled, in
either case so that such excess above the Alternative Currency Sublimit is eliminated. 
 (d) Upon the occurrence of a Change in
Control, the Administrative Agent shall, at the request of the Required Lenders, notify the Borrowers that the Aggregate Commitments and the Commitment of each Lender shall terminate as of the date of such notice. If such notice of termination has
been requested by the Required Lenders, the Administrative Agent shall also, at that time or later, at the request of the Required Lenders, additionally notify the Borrowers that they shall prepay the Outstanding Amount of their Loans and/or Cash
Collateralize the Outstanding Amount of their L/C Obligations, and each Borrower agrees that upon such additional notice, such Borrower will promptly prepay the Outstanding Amount of its Loans and/or Cash Collateralize the Outstanding Amount of its
L/C Obligations. 
 2.05. Termination or Reduction of Commitments. The Borrowers may, upon notice to the Administrative
Agent, terminate the Aggregate Commitments and this Agreement, or from time to time permanently reduce the Aggregate Commitments under this Agreement; provided that (i) any such notice shall be received by the Administrative Agent not
later than 11:00 a.m. three Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the
Borrowers shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayment and/or Cash Collateralization hereunder, the Total Outstandings would exceed the Aggregate Commitments, and
(iv) if, after giving effect to any reduction of the Aggregate Commitments, the Alternative Currency Sublimit exceeds the amount of the Aggregate Commitments, the Alternative Currency Sublimit shall be automatically reduced by the amount of
such excess; and provided, further, that a notice of termination or reduction of the Aggregate Commitments under this Section 2.05 may state that such notice is conditioned upon the occurrence of one or more events
specified therein, in which case such notice may be revoked by the Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. The Administrative Agent will promptly notify the
Lenders of any such notice of termination or reduction of the Aggregate Commitments. The amount of any such Aggregate Commitment reduction shall not be applied to the Alternative Currency Sublimit unless otherwise specified by the Borrowers. Any
reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Pro Rata Share; provided that, during any period in which a Lender is a Defaulting Lender, the Borrowers may (in their discretion) apply
all or any portion to be specified by the Borrowers of any optional reduction of unused Aggregate Commitments under this Section 2.05 to the unused Commitments of any one or more Defaulting Lenders specified by the Borrowers (which
application may result in a change of the Pro Rata Shares of the Lenders) before applying any remaining reduction to the unused Commitments of all Lenders in accordance with their Pro Rata Shares. All fees accrued until the effective date of any
termination of the Aggregate Commitments shall be paid on the effective date of such termination. Notwithstanding the termination of the Aggregate Commitments, this Agreement shall not terminate, and the obligations of the Borrowers under this
Agreement shall continue, until all Letters of Credit have expired, been replaced or been terminated and each Unreimbursed Amount and all interest, fees and other amounts payable hereunder have been paid in full. 

  

					
		 	36	 	Five-Year Credit Agreement

 2.06. Repayment of Loans. Each Borrower shall repay to each Lender on the Maturity
Date the aggregate principal amount of its Loans outstanding on such date and the Commitments of the Lenders shall terminate. 

2.07. Interest. 
 (a) Subject to the provisions of Subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum
equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to
the Base Rate plus the Applicable Rate. 
 (b) (i) If any amount of principal of any Loan is not paid when due (without
regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent
permitted by applicable Laws. 
 (ii) If any amount (other than principal of any Loan) payable by any Borrower
under any Loan Document is not paid when due (after any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then, upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating
interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iii) Upon the request of the Required Lenders, while any Event of Default exists, each Borrower shall pay interest on the principal amount of all its outstanding Obligations hereunder at a fluctuating
interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 

(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as
may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. 

2.08. Fees. In addition to certain fees described in Subsections (i) and (j) of Section 2.03: 

(a) Commitment Fee. The Borrowers, jointly and severally, agree to pay to the Administrative Agent for the
account of each Lender in accordance with its Pro Rata Share, a commitment fee (the “Commitment Fee”) equal to the Applicable Rate (converted to a daily rate) times the actual daily amount by which the Aggregate Commitments
exceed the sum of (i) the Outstanding Amount of Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in clause (c) below. The Commitment Fee shall accrue at all times during the
Availability Period, including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable quarterly in arrears on the 20th day (or, if such day is not a Business Day, the next Business Day) of each March, June, September and December,
commencing with the first such date to occur after the Restatement Closing Date, and on the last day of the Availability Period. The Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during
any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 

  

					
		 	37	 	Five-Year Credit Agreement

 (b) Other Fees. The Borrowers shall pay to Merrill Lynch, Pierce,
Fenner & Smith Incorporated and the Administrative Agent for their own respective accounts fees in the amounts and at the times specified in the Bank of America Fee Letter. The Borrowers shall pay to J.P. Morgan Securities LLC for its own
account fees in the amounts and at the times specified in the JPMorgan Fee Letter. The Borrowers shall pay to Wells Fargo Securities, LLC for its own account fees in the amounts and at the times specified in the Wells Fargo Fee Letter. Such fees
shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 (c) Defaulting Lenders. No
Defaulting Lender shall be entitled to receive any Commitment Fee pursuant to Section 2.08(a) for any period during which it is a Defaulting Lender (and the Borrowers shall not be required to pay any such Commitment Fee that would otherwise
have been required to have been paid to such Defaulting Lender). No Defaulting Lender shall be entitled to receive any Letter of Credit Fee pursuant to Section 2.03(i) for any period during which it is a Defaulting Lender, (i) if
such Defaulting Lender has become a Defaulting Lender pursuant to clause (a) or (c) of the definition of “Defaulting Lender” or (ii) in respect of any Letter of Credit with respect to which the Borrowers have
provided Risk Participation Cash Collateral pursuant to Section 2.03(a)(iii)(H) (and in the case of clauses (i) and (ii), the Borrowers shall not be required to pay any such Letter of Credit Fee that would otherwise
have been required to be paid to such Defaulting Lender), except that, (A) in the case of a Fronted Letter of Credit, if such Defaulting Lender has become a Defaulting Lender pursuant to clause (a) or (c) of the
definition of “Defaulting Lender” and the Borrowers have not provided Risk Participation Cash Collateral pursuant to Section 2.03(a)(iii)(H) with respect to such Letter of Credit, then the Borrowers shall instead pay such
Letter of Credit Fee to the Fronting L/C Issuer, and (B) in the case of a Several Letter of Credit, and whether or not the Borrowers have provided Risk Participation Cash Collateral pursuant to Section 2.03(a)(iii)(H) with respect
to such Letter of Credit, (x) if Bank of America is the Limited Fronting Lender for such Defaulting Lender with respect to such Letter of Credit, the Borrowers shall be required to pay to Bank of America a fee equal to 0.25% per annum on
the actual daily maximum amount available to be drawn under such Several Letter of Credit and (y) if another Lender is the Limited Fronting Lender for such Defaulting Lender with respect to such Several Letter of Credit, the Borrowers shall pay
to such Limited Fronting Lender such fee as the Borrowers may have agreed to pay in such circumstance. 
 2.09. Computation
of Interest and Fees. All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Daily Floating Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and
actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day
year). Interest shall accrue on any Unreimbursed Amount for the day on which such Unreimbursed Amount arises, and shall not accrue on such Unreimbursed Amount, or any portion thereof, for the day on which such Unreimbursed Amount or such portion is
paid. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same
day on which it is made shall, subject to Section 2.11(a), bear interest for one day. 
 2.10. Evidence of
Debt. The Credit Extensions (and the L/C Obligations arising therefrom) made or participated in by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course
of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions (and the L/C Obligations arising therefrom) made or participated in by the
Lenders and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of any Borrower hereunder to pay all amounts owing with respect to the Obligations. In the
event of any conflict between the accounts and records maintained by any Lender and the accounts 

  

					
		 	38	 	Five-Year Credit Agreement

 
and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any
Lender made through the Administrative Agent, each Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may
attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 
 2.11. Payments Generally. 
 (a) All payments to be made by any Borrower
shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by any Borrower hereunder shall be made to the Administrative Agent, for the account of the
respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:30 p.m. on the date specified herein. If, for any reason, any Borrower is prohibited by any
Law from making any required payment hereunder in an Alternative Currency, such Borrower shall make such payment in Dollars in the Dollar Equivalent of the amount of the Alternative Currency. The Administrative Agent will promptly distribute to each
Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 2:30 p.m. shall be
deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. 
 (b) If any
payment to be made by any Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.

 (c) Unless any Borrower or any Lender has notified the Administrative Agent, prior to the date any payment is required to be
made by it to the Administrative Agent hereunder (or, in the case of a Borrowing of Base Rate Loans, prior to 12:30 p.m. on the date of such Borrowing), that such Borrower or such Lender, as the case may be, will not make such payment, the
Administrative Agent may assume that such Borrower or such Lender, as the case may be, has timely made such payment and may (but shall not be required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If
and to the extent that such payment was not in fact made to the Administrative Agent in immediately available funds, then: 
 (i) if such Borrower failed to make such payment, each Lender shall forthwith on demand repay to the Administrative Agent the portion of such assumed payment that was made available to such Lender in
immediately available funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Lender to the date such amount is repaid to the Administrative Agent in
immediately available funds at the Federal Funds Rate from time to time in effect; and 
 (ii) if any Lender
failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the amount thereof in immediately available funds, together with interest thereon for the period from the date such amount was made available by the
Administrative Agent to such Borrower to the date such amount is recovered by the Administrative Agent (the “Compensation Period”) at a rate per annum equal to the Federal Funds Rate from time to time in effect. If such Lender pays
such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in the applicable Borrowing. If such Lender does not pay such amount forthwith upon the Administrative Agent’s

  

					
		 	39	 	Five-Year Credit Agreement

 
demand therefor, the Administrative Agent may make a demand therefor upon such Borrower, and such Borrower shall pay such amount to the Administrative Agent, together with interest thereon for
the Compensation Period at a rate per annum equal to the rate of interest applicable to the applicable Borrowing. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any rights which the
Administrative Agent, any Lender or any Borrower or Applicant may have against any other Lender as a result of any default by such Lender hereunder. 
 A notice of the Administrative Agent to any Lender or any Borrower with respect to any amount owing under this Subsection (c) shall be conclusive, absent manifest error. 

(d) If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this Article II, and such funds are not made available to any Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article V are not satisfied or waived in accordance
with the terms hereof, the Administrative Agent shall promptly return such funds (in like funds as received from such Lender) to such Lender, without interest. 
 (e) The obligations of the Lenders hereunder to make Loans and to honor drawings under, and to fund participations in, Letters of Credit are several and not joint. The failure of any Lender to make any
Loan or to fund any such drawing or participation on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and except for Limited Fronting Lenders with respect to Several Letters of
Credit they have issued on behalf of Affected Lenders on Non-NAIC Approved Banks, no Lender shall be responsible for the failure of any other Lender to so make its Loan, honor a drawing or purchase its participation. 

(f) Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to
constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan or other funding obligation in any particular place or manner. 
 2.12. Sharing of Payments. If, other than as expressly provided elsewhere herein, any Lender shall obtain on account of the Loans made by it, or the participations in L/C Obligations held by it
(whether as an issuer or as a participant), any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall
immediately (a) notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Loans made or Letters of Credit issued by them, and/or such subparticipations in the participations in L/C
Obligations held by them, as the case may be, as shall be necessary to cause such purchasing Lender to share the excess payment in respect of such Loans or such participations, as the case may be, pro rata with each of them; provided,
however, that if all or any portion of such excess payment is thereafter recovered from the purchasing Lender under any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into by the
purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to the purchasing Lender the purchase price paid therefor, together with an amount equal to such paying Lender’s ratable
share (according to the proportion of (i) the amount of such paying Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender
in respect of the total amount so recovered, without further interest thereon. Each Borrower agrees that any Lender so purchasing a participation or subparticipation from another Lender may, to the fullest extent permitted by law, exercise all its
rights of payment (including the right of set-off, but subject to Section 10.09) with respect to such participation or subparticipations as fully as if such Lender were the direct creditor of such Borrower in the amount of such
participation or subparticipation. The Administrative Agent will keep records (which shall be 

  

					
		 	40	 	Five-Year Credit Agreement

 
conclusive and binding in the absence of manifest error) of participations or subparticipations purchased under this Section and will in each case notify the Lenders following any such
purchases or repayments. Each Lender that purchases a participation or subparticipation pursuant to this Section shall from and after such purchase have the right to give all notices, requests, demands, directions and other communications under
this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased. 

2.13. Increase in Commitments. 
 (a) Notice of Increase. Provided no Event of Default has occurred and is then continuing and the Borrowers have not theretofore terminated or reduced the Aggregate Commitments pursuant to
Section 2.05, and subject to the terms and conditions of this Section 2.13, upon notice to the Administrative Agent, the Borrowers may increase the Aggregate Commitments under this Agreement and the “Aggregate
Commitments” (as defined therein) under the Three-Year Credit Agreement to an aggregate amount, after giving effect to all such increases, that does not exceed $5,000,000,000; provided that each increase shall be in a minimum amount of
$50,000,000. If such increase is to be effected in whole or in part through an increase in the Commitment of one or more of the existing Lenders (it being agreed that no existing Lender shall be obligated to increase its Commitment), such notice
shall be accompanied by a writing executed by each existing Lender that has agreed to increase its Commitment, setting forth the amount of its increased Commitment. If such increase is to be effected in whole or in part through the addition of one
or more Eligible Assignees as new Lenders, the addition of each such Eligible Assignee as a new Lender shall be subject to the consent of the Administrative Agent, the Fronting L/C Issuer and the Several L/C Agent (to the extent that such consents
would be required under Section 10.07(g) if such Eligible Assignee were an assignee), which consents shall not be unreasonably withheld or delayed, and such notice shall be accompanied by the written agreement of each such Eligible
Assignee to become a Lender, setting forth the amount of its Commitment. 
 (b) Assistance by Administrative Agent. The
Administrative Agent agrees to provide such assistance as the Borrowers may reasonably request in soliciting increased Commitments from existing Lenders and/or Commitments from Eligible Assignees. 

(c) Effective Date and Allocations. If the Aggregate Commitments are increased in accordance with this Section, the Administrative
Agent and the Borrowers shall determine the effective date (the “Increase Effective Date”) and the final allocation of each increase. The Administrative Agent shall promptly notify the Borrowers and the Lenders (including any new
Lenders) of the final allocation of such increase and such Increase Effective Date. On or before such Increase Effective Date, each Eligible Assignee that becomes a new Lender shall execute a joinder agreement to this Agreement in form and substance
reasonably satisfactory to the Administrative Agent. The Administrative Agent is authorized and directed to amend and distribute to the Lenders (including any new Lenders) a revised Schedule 2.01 that gives effect to each increase in the
Aggregate Commitments and the allocation thereof among the Lenders (including any new Lenders). As soon as practicable (with the intention of avoiding or minimizing any additional amounts payable pursuant to Section 3.05), the applicable
Borrower or Borrowers shall prepay any Loans outstanding on each Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Loans ratable with any revised
Pro Rata Shares arising from any nonratable increase in the Commitments under this Section. 
 (d) Conflicting
Provisions. This Section shall supersede any provisions in Section 2.12 or Section 10.01 to the contrary. 

  

					
		 	41	 	Five-Year Credit Agreement

 2.14. Non-NAIC Approved Banks. If, on or at any time after the Closing Date, a Lender
is not or ceases to be a NAIC Approved Bank, such Lender shall promptly notify the Administrative Agent and the Borrowers thereof and, upon the Borrowers’ request, (a) Bank of America will act as the Limited Fronting Lender for such Lender
with respect to any Several Letters of Credit issued during the period that such Lender is a Non-NAIC Approved Bank (and/or as a Confirming Bank for such Lender with respect to any Several Letters of Credit issued prior to such Lender becoming an
Non-NAIC Approved Bank), or (b) another Lender that is a NAIC Approved Bank may agree to act as the Limited Fronting Lender for such Lender with respect to any Several Letters of Credit issued during the period that such Lender is a Non-NAIC
Approved Bank (and/or as a Confirming Bank for such Lender with respect to any Several Letters of Credit issued prior to such Lender becoming an Non-NAIC Approved Bank) upon such terms and conditions as such Non-NAIC Approved Bank and such other
Lender may agree. If Bank of America or such other Lender, as applicable, becomes a Confirming Bank, it shall enter into a confirming bank agreement with such Non-NAIC Approved Bank upon such terms as the applicable parties may agree (and furnish a
copy thereof to the Borrowers and the Administrative Agent). Each Lender (other than Bank of America) that agrees to act as a Limited Fronting Lender and/or Confirming Bank for any Non-NAIC Approved Bank shall promptly notify the Administrative
Agent of such agreement and of any termination or expiration of such agreement. 
 ARTICLE III. 

TAXES, YIELD PROTECTION AND ILLEGALITY 
 3.01. Taxes. 
 (a) Any and all payments by or on account of any obligation
of either Borrower hereunder shall be made free and clear of and without deduction for any Taxes; provided that if any Borrower shall be required to deduct any Taxes from such payments, then (i) with respect to Indemnified Taxes and
Other Taxes, the sum payable shall be increased as necessary so that after making all required deductions of Indemnified Taxes and Other Taxes (including deductions of Indemnified Taxes and Other Taxes applicable to additional sums payable under
this Section) the Administrative Agent or Lender (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Borrower shall make such deductions of Taxes and (iii) such
Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable Law. 
 (b) In
addition, each Borrower shall pay any Other Taxes not paid pursuant to Section 3.01(a)(iii) to the relevant Governmental Authority in accordance with applicable Law. 

(c) Without duplication of amounts paid by such Borrower under Section 3.01(a) or (b), each Borrower shall indemnify
the Administrative Agent and each Lender, within thirty (30) days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect
to any payment by or on account of any obligation of such Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest, additions to tax and
reasonable expenses arising therefrom or with respect thereto; provided, that such Borrower shall not be obligated to make a payment pursuant to this Section 3.01 in respect of penalties, interest and additions to tax attributable
to any Indemnified Taxes or Other Taxes, if (i) such penalties, interest and additions to tax are attributable to the failure of the Administrative Agent or such Lender, as the case may be, to pay amounts paid to the Administrative Agent or
such Lender by such Borrower (for Indemnified Taxes or Other Taxes) to the relevant Governmental Authority within twenty (20) days after receipt of such payment from such Borrower or (ii) such penalties, interest and additions to tax are
attributable to the gross negligence or willful misconduct of the Administrative Agent or such Lender, as the case may be. Within forty-five (45) days after the Administrative Agent or such Lender learns of the imposition of

  

					
		 	42	 	Five-Year Credit Agreement

 
Indemnified Taxes or Other Taxes, such Person shall give notice to the relevant Borrower of the payment by the Administrative Agent or such Lender, as the case may be, of such Indemnified Taxes
or Other Taxes, and of the assertion by any Governmental Authority that such Indemnified Taxes or Other Taxes are due and payable, but the failure to give such notice shall not affect such Borrower’s obligations hereunder to reimburse the
Administrative Agent and such Lender for such Indemnified Taxes or Other Taxes, except that such Borrower shall not be liable for penalties, interest and other liabilities accrued or incurred after such 45-day period until such time as it receives
the notice contemplated above, after which time it shall be liable for penalties, interest and other liabilities accrued or incurred prior to or during such 45-day period and accrued or incurred after such receipt. Such Borrower shall not be liable
for any penalties, interest and other liabilities with respect to such Indemnified Taxes or Other Taxes to the extent it has reimbursed the amount thereof to the Administrative Agent or such Lender, as the case may be. A certificate as to the amount
of such payment or liability with reasonable supporting detail with respect thereto delivered to the applicable Borrower by a Lender, or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest
error. 
 (d) Within 30 days after any payment of Indemnified Taxes (or Other Taxes if requested by the Administrative Agent) by
the relevant Borrower to a Governmental Authority, such Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent, provided that nothing in this paragraph shall require any Borrower to make available its tax returns (or any other information relating to its Taxes which it deems confidential).

 (e) Each Foreign Lender, before it signs and delivers this Agreement if listed on the signature pages hereof, or before it
becomes a Lender in the case of each other Foreign Lender, shall provide each Borrower and the Administrative Agent either (i) two accurate, complete and signed originals of either (x) IRS Form W-8ECI or any successor form, or (y) IRS
Form W-8BEN or IRS Form W-8IMY (on behalf of itself and together with any other supporting documentation that is required), or any successor form, in each case indicating that such Lender is on the date of delivery thereof entitled to receive
payments of interest hereunder free from, or subject to a reduced rate of withholding of, United States Federal income tax or (ii) in the case of such a Lender that is entitled to claim exemption from withholding of United States Federal income
tax under Section 871(h) or Section 881(c) of the Code with respect to payments of “portfolio interest”, (x) a certificate to the effect that such Lender is (A) not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (B) not a “10 percent shareholder” of any Borrower within the meaning of Section 881(c)(3)(B) of the Code and (C) not a controlled foreign corporation related to any Borrower within the
meaning of Section 881(c)(3)(C) of the Code and (y) two accurate, complete and signed copies of IRS Form W-8BEN or IRS Form W-8IMY (on behalf of itself and together with any other supporting documentation that is required), or any
successor Form. Each Foreign Lender shall deliver renewals or additional copies of such forms (or successor forms) that are required to be delivered under this Section 3.01(e) on or before the date that such form expires or becomes
obsolete. Each Lender that is not a Foreign Lender shall provide each Borrower and the Administrative Agent, and the Administrative Agent shall provide each Borrower, with two accurate, complete and signed originals of the IRS Form W-9, properly
certifying a complete exemption from U.S. backup withholding tax. 
 (f) Each Lender on or prior to the date on which such
Lender becomes a Lender hereunder, and from time to time thereafter, either upon the request of the Administrative Agent, either Borrower, or upon the expiration or obsolescence of any previously delivered documentation, shall furnish to the
Administrative Agent and the Borrowers any documentation that is required under the Code or applicable Treasury regulations (including any documentation that is required as a result of a change in law occurring after the date hereof) to enable the
Borrowers or the Administrative Agent or any other party to 

  

					
		 	43	 	Five-Year Credit Agreement

 
determine and execute their respective obligations, duties and liabilities with respect to FATCA, including but not limited to any Taxes any of them may be required to withhold in respect of
FATCA. 
 (g) The Administrative Agent shall, without reduction, withhold any Taxes required to be deducted and withheld from
any payment under any of the Loan Documents with respect to which the Borrowers are not required to pay additional amounts under this Section 3.01. 
 (h) If the IRS or any other Governmental Authority asserts a claim that the Administrative Agent or any Borrower did not properly withhold tax from amounts paid to or for the account of any Lender
(because the appropriate form was not delivered or properly completed, because such Lender failed to notify the Administrative Agent of a change in circumstances which rendered its exemption from withholding ineffective, or for any other reason),
such Lender shall indemnify the Administrative Agent or such Borrower, as the case may be, fully for all amounts paid, directly or indirectly, by the Administrative Agent or such Borrower, as the case may be, as tax, withholding therefor, or
otherwise, including penalties and interest, and including taxes imposed by any jurisdiction on amounts payable to the Administrative Agent or such Borrower, as the case may be under this paragraph (h), together with all costs and expenses
related thereto (including attorneys’ fees and time charges of attorneys for the Administrative Agent or such Borrower, as the case may be, which attorneys may be employees of the Administrative Agent or such Borrower, as the case may be). The
obligations of the Lenders under this paragraph (h) shall survive the payment of the Obligations and the termination of this Agreement. 
 (i) If the Administrative Agent or any Lender determines, in its good faith judgment, that it has actually received or realized any refund of tax or any reduction of its tax liabilities or otherwise
recovered any amount in connection with any deduction or withholding or payment of any additional amount by any Borrower pursuant to Section 3.04 or this Section 3.01, such Person shall reimburse such Borrower within 45 days
in an amount equal to the net benefit, after tax, of such refund, reduction or recovery, and net of all reasonable out-of-pocket expenses incurred by such Person in connection with such refund, reduction or recovery; provided, that nothing in
this paragraph (i) shall require any Person to make available its tax returns (or any other information relating to its taxes which it deems to be confidential). In the event that the reimbursement described in the preceding sentence is
determined to have been paid to any Borrower in error, such Borrower shall return such amount to the applicable Person within 45 days of when such Person is required to repay such refund of tax or is not entitled to such reduction of, or credit
against, its tax liabilities. If the Administrative Agent or any Lender shall become aware that it is entitled to receive a refund or direct credit in respect of Indemnified Taxes or Other Taxes as to which it has been indemnified by any Borrower or
with respect to which any Borrower has paid additional amounts, it shall promptly notify such Borrower of the availability of such refund or direct credit and shall, within 45 days after receipt of a request for such by such Borrower (whether as a
result of notification that it has made of such to such Borrower or otherwise), make a claim to such Governmental Authority for such refund or direct credit and contest such Indemnified Taxes, Other Taxes or liabilities if (i) such Borrower has
agreed in writing to pay all of such Lender’s or the Administrative Agent’s reasonable out-of-pocket costs and expenses relating to such claim or contest, and (ii) such Lender or the Administrative Agent determines, in its good faith
judgment, that it would not be materially disadvantaged or prejudiced as a result of such claim or contest (it being understood that the mere existence of fees, charges, costs or expenses that such Borrower has offered and agreed to pay on behalf of
such Lender or the Administrative Agent shall not be deemed to be materially disadvantageous to such Person). 
 (j)
Notwithstanding any other provision, the Borrowers shall not be required to indemnify or make any additional payment under this Agreement to any Person with respect to any Excluded Taxes. 

  

					
		 	44	 	Five-Year Credit Agreement

 3.02. Illegality. If any Lender determines that any Law has made it unlawful, or that
any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Eurodollar Rate Loans, or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice
thereof by such Lender to the applicable Borrower through the Administrative Agent, any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended until such Lender
notifies the Administrative Agent and such Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent),
prepay or, if applicable, convert all its Eurodollar Rate Loans of such Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to such day, or
immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans. Upon any such prepayment or conversion, the applicable Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees
to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender. 

3.03. Inability to Determine Rates. If the Required Lenders determine that for any reason adequate and reasonable means do not
exist for determining the Eurodollar Base Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Borrowing, or that the Eurodollar Base Rate for any requested Interest Period with respect to a proposed Eurodollar Rate
Borrowing does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrowers and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar
Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, any Borrower may revoke any pending request by it for a Borrowing of, conversion to or
continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 

3.04. Increased Cost and Reduced Return; Capital Adequacy; Reserves. 

(a) If any Lender determines that as a result of the introduction of or any change in or in the interpretation by any Governmental
Authority of any Law after the Closing Date, or such Lender’s compliance with any request, guideline or directive of any Governmental Authority made or issued after the Closing Date, there shall be any increase in the cost to such Lender of
agreeing to make or making, funding or maintaining Eurodollar Rate Loans or (as the case may be) issuing or participating in Letters of Credit, or a reduction in the amount received or receivable by such Lender in connection with any of the
foregoing (excluding for purposes of this Subsection (a) any such increased costs or reduction in amount resulting from (i) Taxes or Other Taxes (as to which Section 3.01 shall govern), (ii) changes in the basis of
taxation of overall net income or overall gross income by the United States or any foreign jurisdiction or any political subdivision of either thereof under the Laws of which such Lender is organized, or in which its principal office is located or
has its Lending Office (or in the case of a jurisdiction (or any political subdivision thereof) that imposes taxes on the basis of management or control or other concept of principal office or residence, the jurisdiction (or any political
subdivision thereof) in which such Lender is so resident), and (iii) reserve requirements utilized, as to Eurodollar Rate Loans, in the determination of the Eurodollar Rate or reserves described in Section 3.04(c)), then from time
to time within thirty days after demand of such Lender (with a copy of such demand to the Administrative Agent) in accordance with Section 3.06, the applicable Borrower shall pay to such Lender such additional amounts as will compensate
such Lender for such increased cost or reduction. For purposes of the foregoing and Section 3.04(b), (A) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives
thereunder or issued in 

  

					
		 	45	 	Five-Year Credit Agreement

 
connection therewith and (B) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor
or similar authority) or the United States or foreign regulatory authorities, in such case pursuant to Basel III, shall in each case be deemed to be introduced, changed, made or issued after the Closing Date regardless of the date introduced,
changed or made; provided, that, as to any Lender seeking compensation under this Section 3.04(a) with respect to any increased cost or reduction incurred or suffered as a result of clause (A) or (B) of
this sentence, such Lender shall only be so compensated to the extent such Lender is then generally seeking such compensation from similarly situated customers under agreements relating to similar credit transactions that include provisions similar
to the first sentence of this Section 3.04(a). 
 (b) If any Lender determines that the introduction of any Law
regarding capital adequacy or any change therein or in the interpretation by any Governmental Authority thereof, or compliance by such Lender (or its Lending Office) with any request, guideline or directive of any Governmental Authority made or
issued after the Closing Date, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of such Lender’s obligations hereunder (taking into consideration its
policies with respect to capital adequacy and such Lender’s desired return on capital), then from time to time within thirty days after demand of such Lender (with a copy of such demand to the Administrative Agent) in accordance with
Section 3.06, the Borrowers shall jointly and severally pay to such Lender such additional amounts as will compensate such Lender for such reduction. 
 (c) The Daily Floating Eurodollar Rate shall be adjusted by the Administrative Agent to reflect the actual cost of any required reserves with respect to liabilities or assets consisting of or including
Eurocurrency funds or liabilities (as determined by the Administrative Agent in good faith, which determination shall be conclusive). 
 3.05. Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, each Borrower shall promptly compensate such Lender for and hold such Lender
harmless from any loss, cost or expense (excluding any loss of anticipated profits or loss of margin) incurred by it as a result of: 
 (a) except as a result of circumstances set forth in Section 3.02, any continuation, conversion, payment or prepayment of any Loan to it other than a Base Rate Loan on a day other than the
last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration or otherwise); 
 (b) any failure by such Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the
amount notified by such Borrower (in the case of a prepayment, whether or not any prior notice of such prepayment has been revoked); 
 (c) any failure by such Borrower to make payment of any drawing under any Fronted Letter of Credit denominated in the Alternative Currency on its scheduled due date or any payment thereof in a different
currency (except as provided herein); or 
 (d) any assignment of a Eurodollar Rate Loan (except by a Defaulting Lender) on a
day other than the last day of the Interest Period therefor as a result of a request by such Borrower pursuant to Section 10.15; 

  

					
		 	46	 	Five-Year Credit Agreement

 including any loss or expense arising from the liquidation or reemployment of funds obtained
by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. 
 For purposes
of calculating amounts payable by any Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Base Rate used in determining the Eurodollar Rate
for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded. 

3.06. Matters Applicable to all Requests for Compensation. 

(a) A certificate of the Administrative Agent or any Lender claiming compensation under this Article III and setting forth in
reasonable detail the basis for such claim and a calculation of the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. 

(b) Upon any Lender’s making a claim for compensation under Section 3.01 or 3.04, the Borrowers may replace such
Lender in accordance with Section 10.15. 
 3.07. Survival. All of the Borrowers’ obligations under this
Article III shall survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder. 

ARTICLE IV. 

REPRESENTATIONS AND WARRANTIES 
 On the Restatement Closing Date and, except with respect to Section 4.04(c) and Section 4.06, on the date of each Borrowing or L/C Credit Extension, each Borrower represents and
warrants to the Lenders, as to itself and its Subsidiaries, as applicable, that: 
 4.01. Organization; Powers. Each of
MetLife and its Material Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where
the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Change, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required.

 4.02. Authorization; Enforceability. The Transactions are within each Borrower’s corporate powers and have been
duly authorized by all necessary corporate action. This Agreement has been duly executed and delivered by each Borrower and constitutes a legal, valid and binding obligation of each Borrower, enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other Laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. The Support
Agreement (a true and correct copy of which has been made available to the Lenders) has been duly executed and delivered by and constitutes a legal, valid and binding obligation of the Company and Funding, enforceable in accordance with its terms,
subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

 4.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of,
registration or filing with, or any other action by, any Governmental Authority 

  

					
		 	47	 	Five-Year Credit Agreement

 
except such as have been obtained or made and are in full force and effect, (b) will not violate (i) the charter, by-laws or other organizational documents of any Borrower or
(ii) any law, rule or regulation or any order of any Governmental Authority applicable to any Borrower, and (c) will not violate or result in a default under any indenture, agreement or other instrument binding upon any Borrower or its
assets, or give rise to a right thereunder to require any payment to be made by any Borrower, except, in the case of clauses (b)(ii) and (c) above, to the extent that such violations or defaults, individually or in the
aggregate, would not reasonably be expected to result in a Material Adverse Change. 
 4.04. Financial Condition; No Material
Adverse Change. 
 (a) MetLife has heretofore furnished to the Lenders its audited consolidated balance sheet and statements
of earnings, equity and cash flows as of and for the fiscal year ended December 31, 2010, reported on by independent public accountants. Such financial statements present fairly, in all material respects, the financial position and results of
operations and cash flows of MetLife and its Consolidated Subsidiaries, as of the date thereof and for such fiscal year, in accordance with GAAP. 
 (b) MetLife has heretofore furnished to each of the Lenders the annual Statutory Statement of the Company as at and for the year ended December 31, 2010, as filed with the Applicable Insurance
Regulatory Authority. Such Statutory Statement presents fairly, in all material respects, the financial position and results of operations of the Company, as of the date thereof and for such year, in accordance with SAP. 

(c) Since December 31, 2010, there has been no material adverse change in the business, assets, property or financial condition of
MetLife and its Subsidiaries taken as a whole from that set forth in the respective financial statements referred to in Sections 4.04(a) and 4.04(b). 
 4.05. Properties. 
 (a) Each of MetLife and its Material Subsidiaries has
good title to, or valid leasehold interests in, all its real and personal property material to its business, except for defects in title that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Change.

 (b) Each of MetLife and its Material Subsidiaries owns, or is licensed to use, all its trademarks, tradenames, copyrights,
patents and other intellectual property material to its business, and the use thereof by MetLife and its Material Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in the
aggregate, would not reasonably be expected to result in a Material Adverse Change. 
 4.06. Litigation and Environmental
Matters. 
 (a) There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending
against or, to the knowledge of any Borrower, threatened against or affecting MetLife or any of its Material Subsidiaries (i) as to which there would reasonably be expected to be an adverse determination and that, if adversely determined, would
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Change (other than the Disclosed Matters) or (ii) that involve this Agreement or the Transactions. 

(b) Except for the Disclosed Matters and except with respect to any other matters that, individually or in the aggregate, would not
reasonably be expected to result in a Material Adverse Change, neither MetLife nor any of its Material Subsidiaries (i) has failed to comply with any 

  

					
		 	48	 	Five-Year Credit Agreement

 
Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability,
(iii) has received notice of any claim with respect to any Environmental Liability, or (iv) knows of any basis for any Environmental Liability. 
 4.07. Compliance with Laws and Agreements. Each of MetLife and its Material Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority applicable to it or its
property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Change. No Default
has occurred and is continuing. 
 4.08. Investment Company Status. Neither MetLife nor any of its Material Subsidiaries
(other than Funding) is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940, and Funding is an “investment company” as defined in such Act that is exempt from all of the
provisions of such Act. 
 4.09. Taxes. Each of MetLife and its Subsidiaries has timely filed or caused to be filed all
tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which MetLife or such
Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so would not reasonably be expected to result in a Material Adverse Change. 

4.10. ERISA. (a) Each Plan is in compliance in all material respects with, and has been administered in all material respects
in compliance with, the applicable provisions of ERISA, the Code and any other Federal or State law; (b) neither Borrower nor any ERISA Affiliate thereof has, or at any time during the five immediately preceding plan years has had, an
obligation to contribute to a Multiemployer Plan, has completely or partially withdrawn from a Multiemployer Plan; or has any Withdrawal Liability, contingent or otherwise, to a Multiemployer Plan; and (c) no ERISA Event has occurred or is
reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Change. 

4.11. Disclosure. None of the reports, financial statements, certificates or other information furnished by or on behalf of the
Borrowers to the Administrative Agent or any Lender in connection with the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to
state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that with respect to projected financial information, the Borrowers represent only that
such information was prepared in good faith based upon assumptions believed to be reasonable at the time (it being understood that such projections and forecasts are subject to uncertainties and contingencies and no assurances can be given that such
projections or forecasts will be realized). 
 4.12. Margin Stock. No part of the proceeds of any Loan made hereunder and
no Letter of Credit issued hereunder will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the FRB, including Regulations U and X. After the application of the proceeds of any Loan made
hereunder or the use of any Letter of Credit issued hereunder, not more than 25% of the value (as determined by any reasonable method) of the assets of any of the Borrowers is represented by Margin Stock. 

  

					
		 	49	 	Five-Year Credit Agreement

 ARTICLE V. 
 CONDITIONS TO CREDIT EXTENSIONS 
 5.01. Closing Date. The
obligations of the Lenders to make Loans and of the Fronting L/C Issuer and the Lenders to make L/C Credit Extensions hereunder became effective on the Closing Date. 
 5.02. Effectiveness of Amendment and Restatement. This amendment and restatement of the Original Credit Agreement shall be effective when the following conditions precedent have been satisfied:

 (a) The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of
this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of
this Agreement. 
 (b) The Administrative Agent shall have received opinions, addressed to it and the Lenders and dated the
Restatement Closing Date, of counsel to the Borrowers, substantially in the form of Exhibit D-1 and Exhibit D-2, and covering such other matters relating to the Borrowers, this Agreement or the Transactions as the Required Lenders
shall reasonably request. The Borrowers hereby request such counsel to deliver such opinions. 
 (c) The Administrative Agent
shall have received such documents and certificates as the Administrative Agent, its counsel or any Lender may reasonably request relating to the organization, existence and good standing of each of the Borrowers, the authorization of the
Transactions and any other legal matters relating to each of the Borrowers, this Agreement or the Transactions, all in form and substance satisfactory to the Administrative Agent and its counsel. 

(d) The Administrative Agent shall have received documentation satisfactory to the Administrative Agent evidencing the reduction of the
aggregate commitments of the lenders under the Three-Year Credit Agreement to an amount equal to or less than $1,000,000,000. 

(e) The Administrative Agent shall have received payment of all interest and fees accrued to the Restatement Closing Date pursuant to the
Original Credit Agreement and payment of all principal indebtedness and other amounts owing to the Exiting Lenders on the Restatement Closing Date pursuant to the Original Credit Agreement. 

(f) The Administrative Agent shall have received all other fees and amounts due and payable on or prior to the Restatement Closing Date,
including, all upfront fees payable to the Lenders and to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrowers hereunder. 

The Administrative Agent shall notify the Borrowers and the Lenders of the Restatement Closing Date, and such notice shall be conclusive and binding.

 5.03. Each Credit Event. The obligation of each Lender to make any Loan or of the Fronting L/C Issuer and each Lender,
as applicable, to make any L/C Credit Extension on or after the Restatement Closing Date is subject to the satisfaction of the following conditions: 
 (a) The representations and warranties of each of the Borrowers set forth in this Agreement (other than, after the Restatement Closing Date, in Section 4.04(c) and in Section 4.06)
shall be true and correct on and as of the date of such Borrowing or L/C Credit Extension. 

  

					
		 	50	 	Five-Year Credit Agreement

 (b) At the time of and immediately after giving effect to such Borrowing or L/C Credit
Extension, no Default shall have occurred and be continuing. 
 (c) At the time of and immediately after giving effect to such
Borrowing or L/C Credit Extension, no default or event or condition which constitutes a default or which upon notice, lapse of time or both would, unless cured or waived, become a default shall have occurred and be continuing under the Support
Agreement. 
 (d) The applicable Borrower is authorized to perform its obligations in respect of the proposed Borrowing or L/C
Credit Extension. 
 Each Borrowing or L/C Credit Extension shall be deemed to constitute a representation and warranty by each
Borrower on the date thereof as to the matters specified in paragraphs (a), (b) and (c) of this Section. 
 ARTICLE
VI. 
 AFFIRMATIVE COVENANTS 
 Until the Commitments and all Letters of Credit have expired or been terminated and the principal of and interest on each Loan and each Unreimbursed Amount and all interest and fees payable hereunder
shall have been paid in full, each Borrower covenants and agrees with the Lenders that: 
 6.01. Financial Statements and
Other Information. MetLife will furnish to the Administrative Agent and each Lender: 
 (a) (i) as soon as available, but
not later than 60 days (or such other period as may be prescribed under the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC thereunder) after the end of each fiscal year of MetLife, copies of MetLife’s
annual report on Form 10-K as filed with the SEC for such fiscal year; and (ii) as soon as available, but not later than 40 days (or such other period as may be prescribed under the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC thereunder) after the end of each of the first three fiscal quarters of each fiscal year of MetLife, copies of MetLife’s quarterly report on Form 10-Q as filed with the SEC for such fiscal quarter, in each case certified
by an appropriate Financial Officer as being the complete and correct copies of the statements on such forms furnished by MetLife to the SEC, it being understood that, in each case, (x) the Administrative Agent and the Lenders shall be entitled
to rely on any certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as amended, by the chief financial officer of MetLife that accompanies such annual or quarterly report and (y) the certificate of an appropriate
Financial Officer as to completeness and correctness shall not be required if such report is available to the Administrative Agent and the Lenders on the website the SEC maintains for the public dissemination of reports by issuers; 

(b) concurrently with any delivery of financial statements under clause (a) above or clause (c) or
(d) below, a certificate of a Financial Officer of MetLife in the form of Exhibit G; 
 (c) within five days
after filing with the Applicable Insurance Regulatory Authority and in any event within 60 days after the end of each year, the annual Statutory Statement of the Company for such year, certified by one of its Financial Officers as presenting fairly
in all material respects the financial position of the Company for such year in accordance with SAP; 
 (d) within five days
after filing with the Applicable Insurance Regulatory Authority and in any event within 60 days after the end of each of the first three quarterly periods of each year, the 

  

					
		 	51	 	Five-Year Credit Agreement

 
quarterly Statutory Statement of the Company for such period, certified by one of its Financial Officers as presenting fairly in all material respects the financial position of the Company for
such period in accordance with SAP; 
 (e) within five days after any change in a Debt Rating for MetLife, notice of such
change; 
 (f) within ten days after knowledge of the occurrence of any ERISA Event (for purposes of this subsection, a
“reportable event” under Section 4043 of ERISA and the regulations promulgated thereunder being defined as such term is defined as of the date of this Agreement), a description of such ERISA Event; and 

(g) promptly following any request therefor, such other information regarding the operations, business affairs and financial condition of
MetLife or any of its Material Subsidiaries, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender may reasonably request. 
 Documents required to be delivered pursuant to Section 4.04 or Section 6.01 (to the extent any such documents are included in materials otherwise filed with the SEC) may be
delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrowers post such documents, or provide a link thereto on the Borrowers’ website on the Internet at the website address
listed on Schedule 10.02; or (ii) on which such documents are posted by the SEC on the website the SEC maintains for the public dissemination of reports by issuers or are posted on the Borrowers’ behalf on an Internet or intranet
website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that the Borrowers shall notify (which may be by facsimile
or electronic mail) the Administrative Agent of the posting of any such documents and, if requested by the Administrative Agent, provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.
In addition, documents required to be delivered pursuant to Section 6.01(c) and (d) may be delivered in the form of a CD-ROM provided to the Administrative Agent and each Lender, and the certification included with such
documents of one or more Financial Officers regarding the completion of such documents in accordance with the NAIC Annual and Quarterly Statement Instructions and Accounting Practices and Procedures manual, with the exceptions noted thereon as to
compliance with state law, rules or regulation, shall be deemed to satisfy the Financial Officer certification requirements of Section 6.01(c) and (d). Notwithstanding anything contained herein, in every instance the Borrowers
shall be required to provide paper copies or copies in pdf format of the certificate required by Section 6.01(b) to the Administrative Agent. Except for such certificates, the Administrative Agent shall have no obligation to request the
delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrowers with any such request for delivery, and each Lender shall be solely responsible for requesting
delivery to it or maintaining its copies of such documents. 
 The Borrowers hereby acknowledge that (a) the Administrative
Agent and/or the Arrangers will make available to the Lenders, the Fronting L/C Issuer and the Several L/C Agent materials and/or information provided by or on behalf of the Borrowers hereunder (collectively, the “Borrower
Materials”) by posting the Borrower Materials on IntraLinks, Syndtrak or another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel
who do not wish to receive material non-public information with respect to the Borrowers or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect
to such Persons’ securities. The Borrowers hereby agree that (i) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the
word “PUBLIC” shall appear prominently on the first page thereof; (ii) by marking Borrower Materials “PUBLIC,” the Borrowers shall be deemed to have 

  

					
		 	52	 	Five-Year Credit Agreement

 
authorized the Administrative Agent, the Arrangers, the Fronting L/C Issuer, the Several L/C Agent and the Lenders to treat such Borrower Materials as not containing any material non-public
information with respect to the Borrowers or their securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated
as set forth in Section 10.08); (iii) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor;” and (iv) the Administrative
Agent and the Arrangers shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor”. 

6.02. Notices of Defaults. Upon any Responsible Officer obtaining knowledge thereof, the Borrowers will furnish to the
Administrative Agent and each Lender prompt written notice of the occurrence of any Default. Each such notice shall be accompanied by a statement of a Responsible Officer of MetLife setting forth the details of the event or development requiring
such notice and any action taken or proposed to be taken with respect thereto. 
 6.03. Existence; Conduct of Business.
MetLife will, and will cause each of its Material Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises
material to the conduct of its business, other than those whose loss, in each case, would not reasonably be expected to result in a Material Adverse Change; provided that the foregoing shall not prohibit any merger, consolidation,
liquidation, dissolution or other transaction permitted under Section 7.02. 
 6.04. Payment of Obligations.
MetLife will, and will cause each of its Material Subsidiaries to, pay, before the same shall become delinquent or in default, its obligations, including Tax liabilities, that, if not paid, could result in a Material Adverse Change, except where
(a) the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) MetLife or such Material Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP and
(c) the failure to make payment pending such contest would not reasonably be expected to result in a Material Adverse Change. 
 6.05. Maintenance of Properties; Insurance. MetLife will, and will cause each of its Material Subsidiaries to, (a) keep and maintain all its property material to the conduct of its business in
good working order and condition (ordinary wear and tear excepted) except to the extent that failure to do so could not be reasonably expected to result in a Material Adverse Change, and (b) maintain, with financially sound and reputable
insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies of similar size engaged in the same or similar businesses operating in the same or similar locations. 

6.06. Books and Records; Inspection Rights. MetLife will, and will cause each of its Material Subsidiaries to, keep proper books
of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. MetLife will, and will cause each of its Material Subsidiaries to, permit any representative
designated by the Administrative Agent (and, if a Default shall have occurred and be continuing, any representatives reasonably designated by any Lender), upon reasonable prior notice and during normal business hours, to visit and inspect its
properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition (insofar as they relate to this Agreement) with its officers and independent accountants, all at such reasonable times and as
often as reasonably requested. Such inspection rights are subject to the provisions of Section 10.08 and applicable Law and shall not extend to trade secrets of MetLife or its Subsidiaries, to information covered by attorney-client or
other privilege or to information subject to third party confidentiality agreements or privacy rights. 

  

					
		 	53	 	Five-Year Credit Agreement

 6.07. Compliance with Laws. MetLife will, and will cause each of its Material
Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a
Material Adverse Change. 
 6.08. Use of Proceeds. The proceeds of the Loans made hereunder and the Letters of Credit
issued hereunder will be used only for the general corporate purposes (including, without limitation, in the case of Letters of Credit, to support variable annuity policy and reinsurance reserve requirements) of MetLife and its Subsidiaries in the
ordinary course of business; provided that no part of the proceeds of any Loan or any Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the FRB, including
Regulations U and X; provided further that neither the Administrative Agent nor any Lender shall have any responsibility as to the use of any such proceeds. 
 6.09. Support Agreement. Funding will, and MetLife will cause the Company to, (a) maintain the Support Agreement in full force and effect, and comply with the provisions thereof, and
(b) not modify, supplement or waive any of its provisions without the prior consent of the Administrative Agent (with the approval of the Required Lenders); provided that any modification, supplement or waiver that reduces or impairs the
support provided to Funding shall require the approval of all Lenders. 
 ARTICLE VII. 

NEGATIVE COVENANTS 
 Until the Commitments and all Letters of Credit have expired or terminated and the principal of and interest on each Loan and each Unreimbursed Amount and all interest and fees payable hereunder have been
paid in full, each Borrower covenants and agrees with the Lenders that: 
 7.01. Liens. Neither of the Borrowers will
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof (other than any assignment
or sale of such income, revenues or rights in connection with the sale, assignment or transfer of the underlying property or asset), except: 
 (a) Permitted Encumbrances and Liens, if any, provided hereunder (including with respect to Cash Collateral and Risk Participation Cash Collateral); 

(b) any Lien existing on any property or asset prior to the acquisition thereof by such Borrower; provided that (i) such Lien
is not created in contemplation of or in connection with such acquisition, (ii) such Lien shall not apply to any other property or assets of such Borrower, and (iii) such Lien shall secure only those obligations which it secures on the
date of such acquisition; 
 (c) Liens on assets acquired, constructed or improved by such Borrower; provided that
(i) such Liens and the Indebtedness secured thereby are incurred prior to or within 360 days after such acquisition or the completion of such construction or improvement, (ii) the Indebtedness secured thereby does not exceed the cost of
acquiring, constructing or improving such assets, and (iii) such Liens shall not apply to any other property or assets of such Borrower; 
 (d) Liens on any property or assets of any Person existing at the time such Person is merged or consolidated with or into such Borrower, and not created in contemplation of such event; 

  

					
		 	54	 	Five-Year Credit Agreement

 (e) Liens on any real property and personal property relating thereto securing Indebtedness
in respect of which (i) the recourse of the holder of such Indebtedness (whether direct or indirect and whether contingent or otherwise) under the instrument creating the Lien or providing for the Indebtedness secured by the Lien is limited to
such real property and personal property relating thereto directly securing such Indebtedness or (ii) such holder may not under the instrument creating the Lien or providing for the Indebtedness secured by the Lien collect by levy of execution
or otherwise against assets or property of such Borrower (other than such real property and personal property relating thereto directly securing such Indebtedness) if such Borrower fails to pay such Indebtedness when due and such holder obtains a
judgment with respect thereto, except for recourse obligations that are customary in “non-recourse” real estate transactions; 
 (f) Liens arising out of Securities Transactions entered into in the ordinary course of business and on ordinary business terms; 
 (g) Liens arising out of any real estate sale/leaseback transactions; 
 (h) Liens
arising in connection with Swap Contracts; 
 (i) Liens on securities owned by such Borrower which are pledged to the Federal
Home Loan Bank Board (the “FHLBB”) to secure loans made by the FHLBB to such Borrower in the ordinary course of business and on ordinary business terms; 
 (j) Liens on securities owned by, or obligations owed to, such Borrower that directly or indirectly secure funding agreements issued by MetLife or any Subsidiary of MetLife (each a “MetLife
Entity”), which funding agreements directly or indirectly secure, or provide for, the repayment of amounts that a MetLife Entity has received from the proceeds of securities issued by a special-purpose vehicle formed for the purpose of
issuing such securities; provided that at the time of issuance such securities had a rating by a nationally recognized rating agency higher than that which unsecured long-term debt securities issued by the MetLife Entity that is the issuer of the
applicable funding agreement would have had; 
 (k) Liens on cash or securities owned by such Borrower that directly or
indirectly secure demand notes executed and contributed by such Borrower to brokers or dealers that are Affiliates of MetLife, which demand notes evidence obligations of such Borrower to provide funds to such brokers or dealers for the purpose of
enabling such brokers or dealers to satisfy net capital requirements established by applicable Law; 
 (l) Liens, assignments or
sales not otherwise permitted by this Section 7.01 arising in the ordinary course of the business of such Borrower that do not secure any Indebtedness; provided that the obligations secured by such Liens shall not exceed
$4,200,000,000 at any one time outstanding; 
 (m) Liens, assignments or sales not otherwise permitted by this
Section 7.01; provided that the aggregate principal amount of the Indebtedness secured by such Liens shall not exceed $5,400,000,000 at any one time outstanding; and 

(n) any extension, renewal or replacement of the foregoing; provided that the Liens permitted hereunder shall not be spread to
cover any additional Indebtedness or assets (other than a substitution of like assets) unless such additional Indebtedness or assets would have been permitted in connection with the original creation, incurrence or assumption of such Lien.

 7.02. Fundamental Changes. 

  

					
		 	55	 	Five-Year Credit Agreement

 (a) No Borrower will, and MetLife will not permit the Company to, merge into or consolidate
with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or substantially all of its assets (excluding
(i) assets sold or disposed of in the ordinary course of business and (ii) assets sold or disposed of between or among MetLife and/or its direct and indirect wholly-owned Subsidiaries), or (in the case of MetLife) all or any substantial
part of the stock of Funding or the Company (in each case whether now owned or hereafter acquired), or liquidate or dissolve; provided, however, that all or a substantial part of the stock of Funding may be transferred so long as it remains
directly or indirectly held by MetLife; and provided further, that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing (A) any Subsidiary of a Borrower or the
Company, as the case may be, may merge into such Borrower or the Company, as the case may be, in a transaction in which such Borrower or the Company, as the case may be, is the surviving corporation, (B) Funding may sell, transfer, lease or
otherwise dispose of its assets to MetLife or the Company, including via liquidation, so long as MetLife or the Company expressly assumes the obligations of Funding hereunder and under any promissory notes issued hereunder, and (C) a Borrower
or the Company, as the case may be, may merge or consolidate with any other Person if such Borrower or the Company, as the case may be, is the surviving corporation. 
 (b) MetLife will not, and will not permit any of its Material Subsidiaries to, engage to any material extent in any business other than (i) businesses of the type conducted by MetLife or any of its
Subsidiaries on the Restatement Closing Date and businesses reasonably related thereto and (ii) businesses financial in nature. 
 7.03. Transactions with Affiliates. MetLife will not, and will not permit any of its Material Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or
otherwise acquire any property or assets from, or otherwise engage in any other transactions (other than service arrangements) with, any of its Affiliates, except (a) at prices and on terms and conditions not less favorable to MetLife or such
Material Subsidiary than could be obtained on an arm’s length basis from unrelated third parties, and (b) transactions between or among MetLife and/or its direct or indirect Subsidiaries. 

7.04. Consolidated Net Worth. MetLife will not permit its Consolidated Net Worth, calculated as of the last day of each fiscal
quarter, to be less than $29,000,000,000. 
 ARTICLE VIII. 

EVENTS OF DEFAULT 
 8.01. Events of Default. If any of the following events (“Events of Default”) shall occur: 
 (a) any Borrower shall fail to pay any principal of any Loan made to it when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or
otherwise or shall fail to pay any Unreimbursed Amount at or prior to the time such payment is due; 
 (b) any Borrower shall
fail to pay any interest on any Loan made to it or on any Unreimbursed Amount owing by it or any fee or any other amount (other than an amount referred to in clause (a) of this Article) payable under this Agreement, when and as the same
shall become due and payable, and such failure shall continue unremedied for a period of five or more Business Days; 
 (c) any
representation or warranty made or deemed made by or on behalf of MetLife or any of its Material Subsidiaries in or in connection with this Agreement or any amendment or modification hereof or waiver hereunder, or in any report, certificate,
financial statement or other document furnished 

  

					
		 	56	 	Five-Year Credit Agreement

 
pursuant to or in connection with this Agreement or any amendment or modification hereof or waiver hereunder, shall prove to have been incorrect in any material respect when made or deemed made;

 (d) (i) any Borrower shall fail to observe or perform any covenant, condition or agreement contained in
Section 6.01, 6.02 or 6.06, and such failure shall continue unremedied for a period of five Business Days after notice thereof from the Administrative Agent to the relevant Borrower (which notice will be given at the
request of any Lender); or (ii) any Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section 6.03 or 6.09 or in Article VII; 

(e) any Borrower shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those
specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of 30 days after notice thereof from the Administrative Agent to the relevant Borrower (which notice will be
given at the request of any Lender); 
 (f) MetLife or any of its Material Subsidiaries (i) shall fail to make any payment
(whether of principal or interest and regardless of amount) on Material Indebtedness, when and as the same shall become due and payable and such failure shall continue after (A) the end of the grace period for such payment if such payment has a
grace period or (B) two Business Days after MetLife or such Material Subsidiary is given notice of such failure if such payment does not have a grace period, (ii) shall fail to make when due one or more required payments under one or more
Swap Contracts, as to which an Early Termination has not occurred, in an aggregate amount exceeding $100,000,000, if MetLife or such Material Subsidiary would owe a Material Unpaid Swap Indebtedness in an aggregate principal amount exceeding
$750,000,000 upon an Early Termination of such Swap Contracts, and such failure shall continue after (A) the end of the grace period for such payment if such payment has a grace period or (B) two Business Days after MetLife or such
Material Subsidiary is given notice of such failure if such payment does not have a grace period (for the avoidance of doubt, excluding any amount the payment of which is being disputed by MetLife or such Material Subsidiary in good faith in
accordance with the dispute resolution procedures provided for in connection with such Swap Contracts, so long as adequate reserves with respect thereto are set aside in accordance with GAAP), or (iii) shall fail to pay when due Material Unpaid
Swap Indebtedness in an aggregate principal amount exceeding $750,000,000; 
 (g) any event or condition occurs that results in
Material Indebtedness of MetLife or any of its Material Subsidiaries becoming due prior to the scheduled maturity of such Material Indebtedness; provided that this clause (g) shall not apply to (i) secured Indebtedness that
becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness and (ii) Indebtedness that is required to be prepaid as a result of the delivery of a voluntary prepayment notice with respect to
such Indebtedness; 
 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking
(i) liquidation, reorganization or other relief in respect of MetLife or any of its Material Subsidiaries or its debts, or of a substantial part of its assets, under any Debtor Relief Laws now or hereafter in effect or (ii) the appointment
of a receiver, trustee, custodian, sequestrator, conservator or similar official for MetLife or any or its Material Subsidiaries or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed
for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 
 (i) MetLife or any of its
Material Subsidiaries shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Debtor Relief Laws now or hereafter in effect, (ii) consent to the institution of, or
fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or
similar official 

  

					
		 	57	 	Five-Year Credit Agreement

 
for MetLife or any or its Material Subsidiaries or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors, or (vi) take any action for the purpose of effecting any of the foregoing; 
 (j) MetLife or any of its Material Subsidiaries shall admit in writing its inability to pay, or fail generally to pay, its debts as they become due; 

(k) one or more judgments for the payment of money in an aggregate amount in excess of $750,000,000 (or its equivalent in any other
currency) shall be rendered against MetLife, any Material Subsidiary of MetLife or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed; 

(l) an ERISA Event shall have occurred that, when taken together with all other ERISA Events that have occurred, results in a Material
Adverse Change; or 
 (m) an “Event of Default” (as defined therein) shall occur and be continuing under the
Three-Year Credit Agreement. 
 8.02. Remedies Upon Event of Default. If any Event of Default occurs and is continuing,
the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, with notice to the Borrowers, take any or all of the following actions: 
 (a) declare the commitment of each Lender to make Loans and any obligation of the Fronting L/C Issuer or each Lender, as applicable, to make L/C Credit Extensions to be terminated, whereupon such
commitments and obligation shall be terminated; 
 (b) declare the unpaid principal amount of all outstanding Loans, all
interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived by the Borrowers; 
 (c) require that each Borrower Cash Collateralize its L/C Obligations (in an amount equal
to the then Outstanding Amount thereof); and 
 (d) exercise on behalf of itself and the Lenders all rights and remedies
available to it and the Lenders under the Loan Documents or applicable Law; 
 provided, however, that upon the
occurrence of an actual or deemed entry of an order for relief with respect to any Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans to any Borrower and any obligation of the Fronting L/C Issuer or
each Lender, as applicable, to make L/C Credit Extensions to the Borrowers shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and
payable, and the obligation of the Borrowers to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender. 

8.03. Application of Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans have
automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any

  

					
		 	58	 	Five-Year Credit Agreement

 
amounts received on account of the Obligations of any Borrower shall be applied by the Administrative Agent in the following order: 

First, to payment of that portion of such Borrower’s Obligations constituting fees, indemnities, expenses and other amounts
(including all fees, expenses and disbursements of counsel and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 
 Second, to payment of that portion of such Borrower’s Obligations constituting fees, indemnities and other amounts (other than principal, interest, Commitment Fees and Letter of Credit Fees)
payable to the Lenders, the Fronting L/C Issuer, the Several L/C Agent and any Limited Fronting Lender (including all fees, expenses and disbursements of counsel and amounts payable under Article III), ratably among them in proportion to the
respective amounts described in this clause Second payable to them; 
 Third, to payment of that portion of such
Borrower’s Obligations constituting accrued Letter of Credit Fees, Commitment Fees and unpaid interest on the Loans and any Unreimbursed Amounts, ratably among the Lenders in proportion to the respective amounts described in this clause
Third payable to them; 
 Fourth, to payment of that portion of such Borrower’s Obligations constituting
unpaid principal of the Loans and any Unreimbursed Amounts, ratably among the Lenders in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the Administrative Agent for the account of the Fronting L/C Issuer or the Lenders, as applicable, to Cash Collateralize
that portion of such Borrower’s L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit; and 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to such Borrower or as otherwise required by
Law. 
 Amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth
above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to
the other Obligations, if any, in the order set forth above. 
 ARTICLE IX. 

ADMINISTRATIVE AGENT 
 9.01. Appointment and Authorization of Administrative Agent. 
 (a) Each
Lender hereby irrevocably appoints, designates and authorizes the Administrative Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are
expressly delegated to it by the terms of this Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan
Document, the Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, nor shall the Administrative Agent have or be deemed to have any fiduciary relationship with any Lender or Participant, and no
implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent. Without limiting the generality of the foregoing
sentence, the use of the term “agent” herein and in the other Loan Documents with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency

  

					
		 	59	 	Five-Year Credit Agreement

 
doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent
contracting parties. 
 (b) The Fronting L/C Issuer and the Several L/C Agent, as applicable, shall act on behalf of the Lenders
with respect to the Fronted Letters of Credit or the Several Letters of Credit, as applicable, and the documents associated therewith, and the Fronting L/C Issuer and the Several L/C Agent, as applicable, shall have all of the benefits and
immunities (i) provided to the Administrative Agent in this Article IX with respect to any acts taken or omissions suffered by the Fronting L/C Issuer or the Several L/C Agent, as applicable, in connection with Letters of Credit issued
by it or proposed to be issued by it and the applications and agreements for letters of credit pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in this Article IX and in the definition of
“Agent-Related Person” included the Fronting L/C Issuer and the Several L/C Agent with respect to such acts or omissions, and (ii) as additionally provided herein with respect to the Fronting L/C Issuer and the Several L/C Agent, as
applicable. 
 9.02. Delegation of Duties. The Administrative Agent may execute any of its duties under this Agreement or
any other Loan Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties. The Administrative Agent shall not be
responsible to the Lenders for the negligence or misconduct of any agent or attorney-in-fact selected by the Administrative Agent in good faith after due inquiry. 
 9.03. Liability of Administrative Agent. No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or
any other Loan Document or the transactions contemplated hereby (except for its own gross negligence or willful misconduct in connection with its duties expressly set forth herein), or (b) be responsible in any manner to any Lender or
Participant for any recital, statement, representation or warranty made by any Borrower or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for
in, or received by the Administrative Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any
failure of any Borrower or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Lender or Participant to ascertain or to inquire as to the observance or
performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Borrower or any Affiliate thereof. 

9.04. Reliance by Administrative Agent. 
 (a) The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate,
affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons,
and upon advice and statements of legal counsel (including counsel to any Borrower), independent accountants and other experts selected by the Administrative Agent. The Administrative Agent shall be fully justified in failing or refusing to take any
action under any Loan Document unless it shall first receive such advice or concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all
liability and expense which may be incurred by it by reason of taking or continuing to take any such action. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other
Loan Document in accordance with a request or 

  

					
		 	60	 	Five-Year Credit Agreement

 
consent of the Required Lenders (or such greater number of Lenders as may be expressly required hereby in any instance) and such request and any action taken or failure to act pursuant thereto
shall be binding upon all the Lenders. 
 (b) For purposes of determining compliance with the conditions specified in
Section 5.02, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or
acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the Restatement Closing Date specifying its objection thereto. 

9.05. Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any
Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders or the Fronting L/C Issuer or the Several L/C Agent, as applicable, unless the
Administrative Agent shall have received written notice from a Lender or a Borrower referring to this Agreement, describing such Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the
Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless
and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default as it shall deem advisable or in the
best interest of the Lenders. 
 9.06. Credit Decision; Disclosure of Information by Administrative Agent. Each Lender
acknowledges that no Agent-Related Person has made any representation or warranty to it, and that no act by the Administrative Agent hereafter taken, including any consent to and acceptance of any assignment or review of the affairs of any Borrower
or any Affiliate thereof, shall be deemed to constitute any representation or warranty by any Agent-Related Person to any Lender as to any matter, including whether Agent-Related Persons have disclosed material information in their possession. Each
Lender represents to the Administrative Agent that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into
the business, prospects, operations, property, financial and other condition and creditworthiness of the Borrowers and their respective Subsidiaries, and all applicable bank or other regulatory Laws relating to the transactions contemplated hereby,
and made its own decision to enter into this Agreement and to extend credit to the Borrowers hereunder. Each Lender also represents that it will, independently and without reliance upon any Agent-Related Person and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems
necessary to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Borrowers. Except for notices, reports and other documents expressly required to be furnished to the Lenders by
the Administrative Agent herein, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or
creditworthiness of any of the Borrowers or any of their respective Affiliates which may come into the possession of any Agent-Related Person. 
 9.07. Indemnification of Administrative Agent. Whether or not the transactions contemplated hereby are consummated, the Lenders shall indemnify upon demand each Agent-Related Person (to the extent
not reimbursed by or on behalf of any Borrower and without limiting the obligation of any Borrower to do so), pro rata, and hold harmless each Agent-Related Person from and against any and all Indemnified Liabilities incurred by it; provided,
however, that (a) no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities to the extent 

  

					
		 	61	 	Five-Year Credit Agreement

 
determined in a final, nonappealable judgment by a court of competent jurisdiction to have resulted from such Agent-Related Person’s own gross negligence or willful misconduct,
provided, however, that no action taken in accordance with the express directions of the Required Lenders shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section, and (b) no Lender shall
be liable for the payment of any Indemnified Liabilities pursuant to this Section unless such Indemnified Liabilities were incurred by the Administrative Agent in its capacity as such or by another Agent-Related Person acting for the
Administrative Agent in such capacity. Without limitation of the foregoing, each Lender shall reimburse the Administrative Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including all fees, expenses and disbursements
of counsel) incurred by the Administrative Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in
respect of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of the
Borrowers. The undertaking in this Section shall survive termination of the Aggregate Commitments, the payment of all other Obligations and the resignation of the Administrative Agent. 

9.08. Administrative Agent in its Individual Capacity. Bank of America and its Affiliates may make loans to, issue letters of
credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with each of the Borrowers and their respective Affiliates as though
Bank of America were not the Administrative Agent, the Fronting L/C Issuer or the Several L/C Agent hereunder and without notice to or consent of the Lenders. The Lenders acknowledge that, pursuant to such activities, Bank of America or its
Affiliates may receive information regarding any Borrower or its Affiliates (including information that may be subject to confidentiality obligations in favor of such Borrower or such Affiliate) and acknowledge that the Administrative Agent shall be
under no obligation to provide such information to them. With respect to its Loans and L/C Credit Extensions, Bank of America shall have the same rights and powers under this Agreement as any other Lender and may exercise such rights and powers as
though it were not the Administrative Agent, the Fronting L/C Issuer or the Several L/C Agent, and the terms “Lender” and “Lenders” include Bank of America in its individual capacity. 

9.09. Successor Administrative Agent. The Administrative Agent may resign as Administrative Agent upon 30 days’ notice to the
Lenders and the Borrowers. If the Administrative Agent resigns under this Agreement, the Required Lenders shall appoint from among the Lenders a successor administrative agent for the Lenders, which successor administrative agent shall be consented
to by the Borrowers at all times other than during the existence of an Event of Default (which consent of the Borrowers shall not be unreasonably withheld or delayed). If no successor administrative agent is appointed prior to the effective date of
the resignation of the Administrative Agent, the Administrative Agent may appoint, after consulting with the Lenders and the Borrowers, a successor administrative agent from among the Lenders. Upon the acceptance of its appointment as successor
administrative agent hereunder, the Person acting as such successor administrative agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent, the term “Administrative Agent” shall mean such successor
administrative agent and the retiring Administrative Agent’s appointment, powers and duties as Administrative Agent (other than to continue to hold any Cash Collateral or Risk Participation Cash Collateral until such time as a successor
administrative agent is appointed) shall be terminated without any other or further act or deed on the part of such retiring Administrative Agent or any other Lender. After any retiring Administrative Agent’s resignation hereunder as
Administrative Agent, the provisions of this Article IX and Section 10.05 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement. If no successor
administrative agent has accepted appointment as Administrative Agent by the date which is 30 days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall

  

					
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nevertheless thereupon become effective and the Lenders shall perform all of the duties of the Administrative Agent hereunder until such time, if any, as the Required Lenders appoint a successor
administrative agent as provided for above. 
 9.10. Administrative Agent May File Proofs of Claim. In case of the
pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Borrower, the Administrative Agent (irrespective of whether the principal of any
Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on any Borrower) shall be entitled and empowered, by intervention
in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including
any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under
Sections 2.03(i) and (j), 2.08 and 10.05) allowed in such judicial proceeding; and 
 (b) to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the
Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its
agents and counsel, and any other amounts due the Administrative Agent under Sections 2.08 and 10.05. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of
any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

 9.11. Other Agents; Joint Lead Arrangers and Book Managers. None of the Lenders or other Persons identified on the
facing page or signature pages of this Agreement as a “syndication agent,” “documentation agent,” “co-documentation agent” or “arranger” shall have any right, power, obligation, liability, responsibility or
duty under this Agreement other than, in the case of such Lenders, those applicable to all Lenders as such. Without limiting the foregoing, none of the Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship
with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not taking action hereunder. 

ARTICLE X. 

MISCELLANEOUS 
 10.01. Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by any Borrower therefrom, shall be effective unless in
writing signed by the Required Lenders and the Borrowers, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and 

  

					
		 	63	 	Five-Year Credit Agreement

 
for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

(a) waive any condition set forth in Section 5.02 without the written consent of each Lender; 

(b) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without
the written consent of such Lender; 
 (c) postpone any date fixed by this Agreement or any other Loan Document for any payment
of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby; 

(d) reduce the principal of, or the rate of interest specified herein on, any Loan or Unreimbursed Amount, or (subject to clause
(iv) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby; provided,
however, that only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the applicable Borrower to pay interest or Letter of Credit Fees at the Default Rate;

 (e) change Section 2.12 or Section 8.03 in a manner that would alter the pro rata sharing of payments
required thereby without the written consent of each Lender; or 
 (f) change any provision of this Section or the
definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender; 
 and, provided further, that (i) no amendment, waiver or
consent shall, unless in writing and signed by the Fronting L/C Issuer, the Several L/C Agent or each Limited Fronting Lender, as applicable, in addition to the Lenders required above, affect the rights or duties of the Fronting L/C Issuer, the
Several L/C Agent or such Limited Fronting Lender, as applicable, under this Agreement or any Letter of Credit Application relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in
writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; (iii) Section 10.07(h) may not be
amended, waived or otherwise modified without the consent of each Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such amendment, waiver or other modification; and (iv) the Fee Letters may be amended, or
rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder
(and any amendment, waiver or consent which by its terms requires the consent of all Lenders may be effected with the consent of all Lenders other than Defaulting Lenders), except that (A) the Commitment of any Defaulting Lender may not be
increased or extended, and the principal amount of any Loan or Unreimbursed Amount owing to such Defaulting Lender may not be reduced, in any case without the consent of such Defaulting Lender, (B) the terms and conditions of this sentence may
not be amended or otherwise modified without each Defaulting Lender’s consent and (C) any waiver, amendment or other modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender
more adversely than other affected Lenders shall require the consent of such Defaulting Lender. 
 10.02. Notices and Other
Communications; Facsimile Copies. 

  

					
		 	64	 	Five-Year Credit Agreement

 (a) General. Unless otherwise expressly provided herein, all notices and other
communications provided for hereunder shall be in writing (including by facsimile or other electronic transmission). All such written notices shall be mailed certified or registered mail, faxed or delivered to the applicable address, facsimile
number or (subject to Subsection (b) below) electronic mail address, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to the Borrowers, the Administrative Agent, the Fronting L/C Issuer or the Several L/C Agent, to the address,
facsimile number, electronic mail address or telephone number specified for such Person on Schedule 10.02 or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice
to the other parties; and 
 (ii) if to any other Lender, to the address, facsimile number, electronic mail
address or telephone number specified in its Administrative Questionnaire or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the Borrowers, the Administrative
Agent, the Fronting L/C Issuer and the Several L/C Agent. 
 Notices sent by hand or overnight courier service, or mailed by
certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have
been given at the opening of business on the next Business Day for the recipient). Notices delivered through electronic communications to the extent provided in Subsection (b) below, shall be effective as provided in such Subsection (b).
Each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which
notices and other communications may be sent to such Lender and (ii) accurate wire instructions for such Lender. 
 (b)
Electronic Communications. Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the
Administrative Agent, provided that the foregoing shall not apply to notices to any Lender, the Fronting L/C Issuer or the Several L/C Agent pursuant to Article II if such Lender has notified the Administrative Agent that it is
incapable of receiving notices under such Article by electronic communication. The Administrative Agent or any Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 
 (c) Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal
business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address
therefor. 

  

					
		 	65	 	Five-Year Credit Agreement

 (d) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS
AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO
WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN
CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any Agent-Related Person (collectively, the “Agent Parties”) have any liability to any Borrower, any Lender, the Fronting L/C
Issuer, the Several L/C Agent or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of any Borrower’s or the Administrative Agent’s transmission of
Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to any Borrower, any Lender, the Fronting L/C Issuer, the Several L/C Agent or any other Person for
indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the
“Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable
Law, including United States Federal and state securities Laws, to make reference to Borrower Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public
information with respect to the Borrowers or their securities for purposes of United States Federal or state securities laws. 

(e) Effectiveness of Facsimile Documents and Signatures. Loan Documents may be transmitted and/or signed by facsimile or in pdf
format. The effectiveness of any such documents and signatures shall, subject to applicable Law, have the same force and effect as manually-signed originals and shall be binding on all Borrowers, the Administrative Agent and the Lenders. The
Administrative Agent may also require that any such documents and signatures be confirmed by a manually-signed original thereof; provided, however, that the failure to request or deliver the same shall not limit the effectiveness of
any facsimile document or signature. 
 (f) Reliance by Administrative Agent and Lenders. The Administrative Agent
and the Lenders shall be entitled to rely and act upon any notices (including telephonic Loan Notices) reasonably believed by them to be genuine and to have been given by or on behalf of the Borrowers even if (i) such notices were not made in a
manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrowers shall jointly
and severally indemnify each Agent-Related Person and each Lender from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice reasonably believed by it to be genuine and to have been given by or on
behalf of the Borrowers. All telephonic notices to and other communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 

10.03. No Waiver; Cumulative Remedies. No failure by any Lender or the Administrative Agent to exercise, and no delay by any such
Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or
the exercise of any other 

  

					
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right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

 10.04. Enforcement. Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the Borrowers (and any Applicant that is not a Borrower) shall be vested exclusively in, and all actions and proceedings at law in connection with such
enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders, the Fronting L/C Issuer, the Several L/C Agent, and any Limited Fronting Lender;
provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder
and under the other Loan Documents, (b) the Fronting L/C Issuer, the Several L/C Agent or any Limited Fronting Lender, as applicable, from exercising the rights and remedies that inure to its benefit (solely in its capacity as Fronting L/C
Issuer, Several L/C Agent, or Limited Fronting Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender, the Fronting L/C Issuer, the Several L/C Agent or any Limited Fronting Lender from exercising setoff rights
in accordance with Section 10.09 (subject to the terms of Section 2.12), or (d) any Lender, the Fronting L/C Issuer, the Several L/C Agent or any Limited Fronting Lender from filing proofs of claim or appearing and
filing pleadings on its own behalf during the pendency of a proceeding relative to the Borrowers under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and
under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b),
(c) and (d) of the preceding proviso and subject to Section 2.12, any Lender, the Fronting L/C Issuer, the Several L/C Agent or any Limited Fronting Lender may, with the consent of the Required Lenders, enforce
any rights and remedies available to it and as authorized by the Required Lenders. 
 10.05. Costs, Expenses and
Indemnification. 
 (a) Each Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the
Administrative Agent and the Agent-Related Persons, including reasonable fees, expenses and disbursements of one law firm, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of this
Agreement or any amendments, modifications or waivers of the provisions hereof (whether or not the transactions contemplated hereby or thereby shall be consummated), and (ii) all out-of-pocket expenses incurred by the Administrative Agent or
any Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent or any Lender, in connection with the enforcement or protection of its rights in connection with this Agreement, including its rights under this
Section, or in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or L/C Obligations. 

(b) Each Borrower shall indemnify the Administrative Agent, each Lender, the Fronting L/C Issuer, the Several L/C Agent, each Limited
Fronting Lender and the directors, officers, employees, agents, advisors and Affiliates of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities, penalties and related expenses (including, without limitation, the reasonable fees, charges and disbursements of one counsel for the Indemnitees, unless the Indemnitees have conflicting interests that cannot
reasonably be represented by one counsel, in which case such expenses shall include the reasonable fees, charges and disbursements of no more than such number of counsels as are necessary to represent such conflicting interests) incurred by any
Indemnitee or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any 

  

					
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other Loan Document or any agreement or instrument contemplated hereby or thereby, or the performance by the parties hereto of their respective obligations hereunder or thereunder, (ii) any
Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the Fronting L/C Issuer, Several L/C Agent or any Limited Fronting Lender to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), or (iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, and regardless of whether any Indemnitee is a party thereto (collectively, the “Indemnified Liabilities”); provided that such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities, penalties or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful
misconduct of such Indemnitee, (y) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from a breach in bad faith by an Indemnitee in any material respect of such Indemnitee’s
obligations hereunder or under any other Loan Document, or (z) result from any action, suit, proceeding or claim solely among Indemnitees brought by any Indemnitee against any other Indemnitee (other than such other Indemnitee acting in its
capacity as Administrative Agent, Fronting L/C Issue, Several L/C Agent and/or Limited Fronting Lender to the extent otherwise entitled to be indemnified hereunder) that does not involve an act or omission (or alleged act or omission) by the
Borrowers or any of the Borrowers’ affiliates. 
 (c) To the extent that the Borrowers fail to pay any amount required to
be paid by them to the Administrative Agent under paragraph (a) or (b) of this Section 10.05, each Lender severally agrees to pay to the Administrative Agent such Lender’s Pro Rata Share (determined as of the time that the
applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against
the Administrative Agent, in its capacity as such. 
 (d) To the extent permitted by applicable law, the Borrowers shall not
assert, and each Borrower hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a
result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions, any Loan, any Letter of Credit or the use of the proceeds thereof. 
 (e) No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through IntraLinks, Syndtrak or other similar information transmission
systems in connection with this Agreement. 
 (f) The agreements in this Section shall survive the resignation of the
Administrative Agent, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 
 10.06. Payments Set Aside. To the extent that any payment by or on behalf of any Borrower is made to the Fronting L/C Issuer, the Several L/C Agent, any Limited Fronting Lender, any Confirming
Bank, the Administrative Agent or any Lender, or the Fronting L/C Issuer, the Several L/C Agent, any Limited Fronting Lender, any Confirming Bank, the Administrative Agent or any Lender exercises its right of set-off, and such payment or the
proceeds of such set-off or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the Fronting L/C Issuer, the
Several L/C Agent, such Limited Fronting Lender, such Confirming Bank or such Lender in its discretion) to be repaid to a trustee, rehabilitator, conservator, custodian, liquidator, receiver or any other party, in connection with any proceeding
under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the 

  

					
		 	68	 	Five-Year Credit Agreement

 
obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and
(b) the Fronting L/C Issuer, the Several L/C Agent, such Limited Fronting Lender, such Confirming Bank and each such Lender severally agrees to pay to the Administrative Agent (for the account of the applicable Person) upon demand its
applicable share of any amount so recovered from or repaid by the applicable party, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect.

 10.07. Successors and Assigns. 
 (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrowers may not
assign or otherwise transfer any of their respective rights or obligations hereunder without the prior written consent of each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an
Eligible Assignee in accordance with the provisions of Subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of Subsection (d) of this Section, (iii) by way of pledge or assignment of a
security interest subject to the restrictions of Subsection (f) of this Section, or (iv) to an SPC in accordance with the provisions of Subsection (h) of this Section (and any other attempted assignment or transfer by any party
hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent
provided in Subsection (d) of this Section and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this Subsection (b), participations in L/C Obligations, whether as an issuer or a participant) at the time owing to it); provided that
(i) except in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans and L/C Obligations at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender
or an Approved Fund with respect to a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans and L/C Obligations outstanding thereunder) subject to each such assignment, determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the
Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrowers otherwise consent (each such consent not to be unreasonably withheld or delayed and such consent by the Borrowers being deemed to have been given
unless the Borrowers shall object thereto by written notice to the Administrative Agent within ten (10) Business Days after having actually received notice thereof); provided that concurrent assignments to members of an Assignee Group
and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount
has been met; (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans, the risk participations in Letters of
Credit and the Commitment assigned; (iii) any assignment of a Commitment must be approved by the Administrative Agent and the Fronting L/C Issuer or the Several L/C Agent, as applicable (which approvals shall not be unreasonably withheld or
delayed) unless the Person that is the proposed assignee is itself a Lender (whether or not the proposed assignee would otherwise qualify as an Eligible Assignee); (iv) the assignment shall contain a representation by the Eligible Assignee to
the effect that none of the consideration used to make the purchase of the Commitment and Loans and L/C Obligations under the 

  

					
		 	69	 	Five-Year Credit Agreement

 
applicable Assignment and Assumption constitutes “plan assets” as defined under ERISA and that the rights and interests of the Eligible Assignee in and under the Loan Documents will not
be “plan assets” under ERISA; and (v) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with, unless waived by the Administrative Agent in its sole discretion,
a processing and recordation fee in the amount of $3,500. Subject to acceptance and recording thereof by the Administrative Agent pursuant to Subsection (c) of this Section 10.07, from and after the effective date specified in each
Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have (in addition to any such rights or obligations then otherwise held by
it) the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of
Sections 3.01, 3.04, 3.05 and 10.05 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, each Borrower (at its expense) shall execute and deliver a Note to
the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in
such rights and obligations in accordance with Subsection (d) of this Section 10.07. 
 (c) The Administrative
Agent, acting solely for this purpose as an agent of the Borrowers, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of
the Lenders, and the Commitments of, and principal and interest amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be
conclusive in the absence of manifest error, and the Borrowers, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers at any reasonable time and from time to time upon reasonable prior notice. In addition, at any time that a request for a consent for a
material or other substantive change to the Loan Documents is pending, any Lender may request and receive from the Administrative Agent a copy of the Register. 
 (d) Any Lender may at any time, without the consent of, or notice to, any Borrower or the Administrative Agent, sell participations to any Person (other than a natural person or a Borrower or any of a
Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including
such Lender’s participations in L/C Obligations, whether as an issuer or a participant) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain
solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrowers, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other
modification described in the first proviso to Section 10.01 that directly affects such Participant. Subject to Subsection (e) of this Section 10.07, the Borrowers agree that each Participant shall be entitled to the
benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Subsection (b) of this Section. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 10.09 as though it 

  

					
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were a Lender, provided such Participant agrees to be subject to Section 2.12 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this
purpose as an agent of each of the Borrowers (solely for tax purposes), maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans
or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person except to the extent that such
disclosure is necessary to establish that such Loan or other obligation under this Agreement is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations or such disclosure is otherwise required in connection with
compliance with the Code. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all
purposes of this Agreement. 
 (e) A Participant shall not be entitled to receive any greater payment under
Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the
Borrowers’ prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Borrowers are notified of the participation sold to such Participant
and such Participant agrees, for the benefit of the Borrowers, to comply with Section 3.01 as though it were a Lender. 
 (f) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender,
including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such
Lender as a party hereto. 
 (g) As used herein, the following terms have the following meanings: 

“Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved
Fund; and (d) any other Person (other than a natural person) approved by (i) the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent and any Limited Fronting Lender (but only if the Lender who is the assignor is a
Participating L/C Issuer with respect to such Limited Fronting Lender), and (ii) unless an Event of Default has occurred and is continuing, the Borrowers (each such approval not to be unreasonably withheld or delayed and such consent by the
Borrowers being deemed to have been given unless the Borrowers shall object thereto by written notice to the Administrative Agent within ten (10) Business Days after having actually received notice thereof); provided that notwithstanding
the foregoing, “Eligible Assignee” shall not include (A) any Borrower, (B) any of the Borrowers’ Affiliates or Subsidiaries, or (C) a Person who is a Non-NAIC Approved Bank at the effective time of the assignment
pursuant to this Section 10.07 (unless such Person is otherwise acceptable to the Administrative Agent and Bank of America). 
 “Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of
credit in the ordinary course of its activities. 
 “Approved Fund” means any Fund that is
administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

  

					
		 	71	 	Five-Year Credit Agreement

 “Assignee Group” means two or more Eligible Assignees that
are Affiliates of one another or two or more Approved Funds managed by the same investment advisor. 
 (h) Notwithstanding
anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the
Borrowers (an “SPC”) the option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a
commitment by any SPC to fund any Loan or any L/C Obligation and (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the
terms hereof or, if it fails to do so, to make such payment to the Administrative Agent as is required under Section 2.11(c)(ii). Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of
such option shall increase the costs or expenses or otherwise increase or change the obligations of the Borrowers under this Agreement (including their obligations under Section 3.04), (ii) no SPC shall be liable for any indemnity
or similar payment obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan
Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. In furtherance of the
foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior debt of
any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the laws of the United States or any State thereof.
Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent of, the Borrowers and the Administrative Agent and without paying any processing fee therefor, assign all or any portion of its
right to receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any
surety or Guarantee or credit or liquidity enhancement to such SPC. 
 (i) Notwithstanding anything to the contrary contained
herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to Subsection (b) above, Bank of America may, upon 30 days’ notice to the Borrowers and the Lenders, resign as the Fronting L/C Issuer and/or the
Several L/C Agent. In the event of any such resignation as Fronting L/C Issuer and/or the Several L/C Agent, the Borrowers shall be entitled to appoint from among the Lenders a successor Fronting L/C Issuer and/or the Several L/C Agent hereunder;
provided, however, that no failure by the Borrowers to appoint any such successor shall affect the resignation of Bank of America as Fronting L/C Issuer and/or the Several L/C Agent. If Bank of America resigns as Fronting L/C Issuer
and/or the Several L/C Agent, it shall retain all the rights and obligations of the Fronting L/C Issuer and/or the Several L/C Agent hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as Fronting
L/C Issuer and/or the Several L/C Agent and all L/C Obligations with respect thereto. Upon the appointment of a successor Fronting L/C Issuer and/or the Several L/C Agent (and its acceptance of such appointment) and the receipt of any necessary
approvals from any beneficiaries of any outstanding Letters of Credit and any insurance regulatory authorities, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Fronting
L/C Issuer and/or the Several L/C Agent and (b) the successor Fronting L/C Issuer and/or the Several L/C Agent shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make
other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit. 

  

					
		 	72	 	Five-Year Credit Agreement

 (j) Notwithstanding anything to the contrary contained herein, if at any time Bank of
America or any successor Fronting L/C Issuer, as applicable, becomes a Non-NAIC Approved Bank, the Borrowers shall be entitled to appoint from among the Lenders a successor Fronting L/C Issuer hereunder; provided, however, that such
Lender shall be an NAIC Approved Bank at the time of such appointment. If Bank of America or any successor Fronting L/C Issuer, as applicable, is replaced by the Borrowers pursuant to this Section 10.07(j), Bank of America or such
successor Fronting L/C Issuer, as applicable, shall retain all the rights and obligations of the Fronting L/C Issuer hereunder with respect to all Fronted Letters of Credit outstanding as of the effective date of its replacement as Fronting L/C
Issuer and all L/C Obligations with respect thereto. Upon the appointment of a successor Fronting L/C Issuer (and its acceptance of such appointment) and the receipt of any necessary approvals from any beneficiaries of any outstanding Fronted
Letters of Credit and any insurance regulatory authorities, (a) the successor Fronting L/C Issuer shall succeed to and become vested with all of the rights, powers, privileges and duties of the replaced Fronting L/C Issuer and (b) the
successor Fronting L/C Issuer shall issue letters of credit in substitution for the Fronted Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to such replaced Fronting L/C Issuer to
effectively assume the obligations of such replaced Fronting L/C Issuer with respect to such Fronted Letters of Credit. 

10.08. Confidentiality. Each of the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent and the Lenders agrees to
maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors,
auditors and representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent
requested by any regulatory authority purporting to have jurisdiction over it or its Affiliates (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable
laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this
Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any
prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any Borrower and its
obligations, (g) with the consent of any Borrower, or (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section by such Person or (y) becomes available to the
Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent or any Lender on a nonconfidential basis from a source other than any Borrower. In the event that the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent or any
Lender becomes legally compelled to disclose any confidential Information pursuant to paragraph (c) of this Section 10.08, the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent or such Lender shall, to the extent
permitted by law, give prompt written notice of that fact to the Borrowers prior to the disclosure so that the Borrowers may seek an appropriate remedy to prevent or limit such disclosure and the Administrative Agent, the Fronting L/C Issuer, the
Several L/C Agent or such Lender shall cooperate reasonably (at the expense of the Borrowers) with the Borrowers in seeking such remedy. For purposes of this Section, “Information” means all information received from any Borrower or
any of its Subsidiaries relating to any Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent or any Lender on
a nonconfidential basis prior to disclosure by any Borrower or any Subsidiary, provided that, in the case of information received from any Borrower or any Subsidiary after the Closing Date, such information is clearly identified at the time
of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the

  

					
		 	73	 	Five-Year Credit Agreement

 
same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. Each of the Administrative Agent, the Fronting L/C Issuer,
the Several L/C Agent and the Lenders acknowledges that (a) the Information may include material non-public information concerning the Borrowers, (b) it has developed compliance procedures regarding the use of material non-public
information, and (c) it will handle such material non-public information in accordance with applicable Law, including United States Federal and state securities Laws. 
 10.09. Set-off. In addition to any rights and remedies of the Lenders provided by law, upon the occurrence and during the continuance of any Event of Default, each Lender is authorized at any time
and from time to time, without prior notice to any Borrower, any such notice being waived by the Borrowers to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final)
at any time held by, and other indebtedness at any time owing by, such Lender to or for the credit or the account of the respective Borrowers against any and all Obligations owing to such Lender hereunder or under any other Loan Document, now or
hereafter existing, irrespective of whether or not the Administrative Agent or such Lender shall have made demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or denominated in a
currency different from that of the applicable deposit or indebtedness. Each Lender agrees promptly to notify the Borrowers and the Administrative Agent after any such set-off and application made by such Lender; provided, however,
that the failure to give such notice shall not affect the validity of such set-off and application. 
 10.10. Interest Rate
Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the
“Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or the L/C Obligations or, if it
exceeds such unpaid principal, refunded to the applicable Borrower. In determining whether the interest contracted for, charged or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by
applicable Law, (a) characterize any payment that is not principal as an expense, fee or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate and spread in equal
or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 
 10.11.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement shall become effective when it shall
have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto and such counterparts shall have been deemed
to have been delivered (in accordance with instructions communicated by the Administrative Agent to the other parties hereto) for purposes of binding the parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by
telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Agreement. 

10.12. Integration. This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the
parties on the subject matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions
of this Agreement shall control; provided that the inclusion of supplemental rights or remedies in favor of the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent, any Limited Fronting Lender or the Lenders in any other Loan
Document shall not be deemed a conflict with this Agreement. Each Loan Document was 

  

					
		 	74	 	Five-Year Credit Agreement

 
drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof.

 10.13. Survival of Representations and Warranties. All representations and warranties made hereunder and in any other
Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the
Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent, the Fronting L/C Issuer, the Several L/C Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent, the Fronting
L/C Issuer, the Several L/C Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan, L/C Obligation or any other Obligation hereunder
shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 
 10.14. Severability. If any
provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be
affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the
illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

10.15. Mitigation of Obligations; Replacement of Lenders. 

(a) If any Lender requests compensation under Section 3.04, or if any Borrower is required to pay any additional amount to
any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, then such Lender shall, upon the request of such Borrower, use reasonable efforts to designate a different Lending Office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable
pursuant to Section 3.04 or 3.01, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Each Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

(b) If a Lender becomes a Defaulting Lender or a Non-NAIC Approved Bank, or under any circumstances otherwise set forth herein providing
that the Borrowers shall have the right to replace a Lender as a party to this Agreement, the Borrowers may, upon notice to such Lender and the Administrative Agent, replace such Lender by causing such Lender to assign its Commitment (with the
assignment fee to be paid by the Borrowers in such instance) pursuant to Section 10.07(b) to one or more other Lenders or Eligible Assignees procured by the Borrowers; provided, however, that if the Borrowers elect to
exercise such right with respect to any Lender pursuant to Section 3.06(b), it shall be obligated to replace all Lenders that have made requests for compensation on a similar basis and in a similar amount pursuant to
Section 3.01 or 3.04. Upon the making of any such assignment, the Borrowers shall pay in full any amounts payable pursuant to Section 3.05. 
 10.16. Governing Law. 
 (a) THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE. 

  

					
		 	75	 	Five-Year Credit Agreement

 (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY, BOROUGH OF MANHATTAN, OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH BORROWER, THE
ADMINISTRATIVE AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. TO THE EXTENT LEGALLY PERMISSIBLE, EACH BORROWER, THE ADMINISTRATIVE AGENT AND EACH LENDER IRREVOCABLY
WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN
DOCUMENT OR OTHER DOCUMENT RELATED THERETO. TO THE EXTENT LEGALLY PERMISSIBLE, EACH BORROWER, THE ADMINISTRATIVE AGENT AND EACH LENDER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED
BY THE LAW OF SUCH STATE. 
 10.17. Waiver of Right to Trial by Jury. EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY
WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN
DOCUMENT OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF
ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF
THEIR RIGHT TO TRIAL BY JURY. 
 10.18. No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrowers acknowledge and agree that: (i) (A) the arranging and other services regarding
this Agreement provided by the Administrative Agent, the Lenders and the Arrangers are arm’s-length commercial transactions between the Borrowers, on the one hand, and the Administrative Agent, the Lenders and the Arrangers, on the other hand,
(B) each of the Borrowers has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) each of the Borrowers is capable of evaluating, and understands and accepts, the terms, risks
and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) each of the Administrative Agent, the Lenders and the Arrangers is and has been acting solely as a principal and, except as expressly agreed
in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for any Borrower or any other Person and (B) none of the Administrative Agent, any Lender nor any Arranger has any obligation to
any Borrower with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Lenders and the Arrangers and their respective
Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrowers and their respective Affiliates, and none of the Administrative Agent, any Lender nor any Arranger has any obligation to
disclose any of such interests to the Borrowers or any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrowers hereby waives and releases any claims that it may have against the Administrative Agent, the Lenders
and the Arrangers with respect to 

  

					
		 	76	 	Five-Year Credit Agreement

 
any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

10.19. USA PATRIOT Act Notice. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby
notifies the Borrowers that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that
identifies the Borrowers and any other Applicants, which information includes the name and address of the Borrowers and any other Applicants and other information that will allow such Lender or the Administrative Agent, as applicable, to identify
the Borrowers and any other Applicants in accordance with the Act. 
 10.20. Restatement Closing Date Assignments.
Certain of the banks and financial institutions party to the Original Credit Agreement (the “Exiting Lenders”) are not party to this Agreement. Certain of the Lenders party to this Agreement are identified on their signature pages
hereto as “Continuing Lenders”. Certain of the Lenders party to this Agreement are identified on their signature pages hereto as “Joining Lenders”. Effective as of the Restatement Closing Date, and without any
further action by the Borrowers, any Exiting Lender, any Lender, the Administrative Agent or any other party hereto, (a) each of the Exiting Lenders and each of the Continuing Lenders whose level of Commitment under the Original Credit
Agreement immediately prior to the Restatement Closing Date is being reduced pursuant to this Agreement from its level of Commitment under the Original Credit Agreement (each a “Reducing Party”) shall be deemed to have irrevocably
sold and assigned to each of the Continuing Lenders whose level of Commitment under the Original Credit Agreement is being increased pursuant to this Agreement from its level of Commitment under the Original Credit Agreement and to each of the
Joining Lenders (each an “Increasing Party”) an undivided portion of its Commitment under the Original Credit Agreement and its rights and obligations as a Lender under the Original Credit Agreement, this Agreement and the other
Loan Documents (to the extent a party thereto), and each of the Increasing Parties shall be deemed to have irrevocably accepted and assumed from each of the Reducing Parties, an undivided portion of such Commitment, rights and obligations, so that,
after giving effect thereto, each of the Continuing Lenders and each of the Joining Lenders has a Commitment as set forth on Schedule 2.01 to this Agreement, (b) each of the Exiting Lenders shall cease to be a party to this
Agreement or to have any further rights or obligations hereunder (other than any right or obligation, that pursuant to the Original Credit Agreement, expressly survives a termination of the Commitments), (c) each of the Joining Lenders shall
become a party to this Agreement with a Commitment as set forth on Schedule 2.01 to this Agreement and shall have the rights and obligations of a Lender hereunder and under the other Loan Documents (to the extent a party thereto), all as
if the sales and assignments set forth in this Section 10.20 had been effected pursuant to one or more Assignment and Assumption Agreements, and (d) each of the Continuing Lenders shall continue to be a party hereto with a
Commitment as set forth on Schedule 2.01 to this Agreement and shall continue to have the rights and obligations of a Lender hereunder and under the other Loan Documents. For the avoidance of doubt, until the Restatement Closing Date,
each Exiting Lender and each Continuing Lender shall continue to have a Commitment (as defined in the Original Credit Agreement) expiring on October 14, 2011 as specified in the Original Credit Agreement. On the Restatement Closing Date, but
subject to Section 5.02, Loans shall be made (and loans outstanding under the Original Credit Agreement shall be repaid) so that, after giving effect thereto, any outstanding Loans are held by the Lenders in accordance with their
respective Pro Rata Shares. 
 10.21. Judgment Currency. If, for the purposes of obtaining judgment in any court, it is
necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which, in accordance with normal banking procedures, the Fronting L/C Issuer or the Administrative
Agent, as may be the case, could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of each Borrower in respect of any such sum due from it to the Fronting L/C
Issuer or the 

  

					
		 	77	 	Five-Year Credit Agreement

 
Administrative Agent, as may be the case, hereunder or under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that
in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Fronting L/C Issuer or
the Administrative Agent, as may be the case, of any sum adjudged to be so due in the Judgment Currency, the Fronting L/C Issuer or the Administrative Agent, as may be the case, may in accordance with normal banking procedures purchase the Agreement
Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Fronting L/C Issuer or the Administrative Agent, as may be the case, from any Borrower in the Agreement Currency,
such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Fronting L/C Issuer or the Administrative Agent, as may be the case, against such loss. If the amount of the Agreement Currency so purchased is
greater than the sum originally due to the Fronting L/C Issuer or the Administrative Agent, as may be the case, in such currency, the Fronting L/C Issuer or the Administrative Agent, as may be the case, agrees to return the amount of any excess to
such Borrower (or to any other Person who may be entitled thereto under applicable law). 

  

					
		 	78	 	Five-Year Credit Agreement

 SCHEDULE 1.01 

EXISTING LETTERS OF CREDIT 
 (Fronted Letters of Credit issued under the Original Agreement) 
 NONE 

(Several Letters of Credit issued under the Original Agreement) 
 NONE 
 (Fronted Letters of Credit issued under the Three-Year Credit Agreement)

  

							
	 Letter of Credit Number
	  	Amount	 	  	 Beneficiary

	 3048271
	  	$	20,000.00	  	  	Louisiana Public Service Comm.
	 3072992
	  	$	8,180,662.00	  	  	National Union Fire Ins. Co.
	 3077090
	  	$	63,200.00	  	  	226 Associates LLC
	 3078792
	  	$	489,000.00	  	  	National Union Fire Ins. Co.
	 3079216
	  	$	3,500,000.00	  	  	Lexington Insurance Company
	 3083713
	  	$	2,118,287.00	  	  	Associate Aviation Underwriters
	 3083717
	  	$	5,400,000.00	  	  	Citibank, NA
	 3083718
	  	$	250,000.00	  	  	Ohio Bureau of Workers
	 3084812
	  	$	400,000.00	  	  	 Insurance Commissioner
 State of California

	 3085717
	  	$	27,525,000.00	  	  	American International Specialty
	 3086450
	  	$	1,500,000	  	  	JPMorgan Chase Bank
	 3091894
	  	$	17,900,000.00	  	  	The Travelers Indemnity Co.
	 3098414
	  	$	2,230,900.00	  	  	Old Republic Ins. Co.

 (Several Letters of Credit Issued under the Three-Year Credit Agreement) 

 

							
	 Letter of Credit Number
	  	Amount	 	  	 Beneficiary

	 3114766
	  	$	792,000,000.00	  	  	MetLife Investors USA Ins.
	 3114771
	  	$	4,000,000.00	  	  	MetLife Insurance Company of Connecticut
	 3114768
	  	$	155,000,000.00	  	  	MetLife Investors Ins. Co.
	 3115833
	  	$	119,000,000.00	  	  	New England Life Ins. Co.
	 3115835
	  	$	30,000,000.00	  	  	First MetLife Investors Ins.
	 3116546
	  	$	4,000,000.00	  	  	Metropolitan Life Ins. Co.

  
 Schedule
1.01 

 SCHEDULE 2.01 

COMMITMENTS 

AND PRO RATA SHARES 
  

									
	 Lender
	  	Commitment	 	  	Pro Rata Share	 
	 Bank of America, N.A.
	  	$	130,000,000.00	  	  	 	4.333333333	% 
	 JPMorgan Chase Bank, N.A.
	  	$	130,000,000.00	  	  	 	4.333333333	% 
	 Wells Fargo Bank, National Association
	  	$	130,000,000.00	  	  	 	4.333333333	% 
	 Credit Suisse AG, New York Branch
	  	$	120,000,000.00	  	  	 	4.000000000	% 
	 Deutsche Bank AG New York Branch
	  	$	120,000,000.00	  	  	 	4.000000000	% 
	 HSBC Bank USA, National Association
	  	$	120,000,000.00	  	  	 	4.000000000	% 
	 Barclays Bank PLC
	  	$	110,000,000.00	  	  	 	3.666666667	% 
	 BNP Paribas
	  	$	110,000,000.00	  	  	 	3.666666667	% 
	 Citibank, N.A.
	  	$	110,000,000.00	  	  	 	3.666666667	% 
	 Goldman Sachs Bank USA
	  	$	110,000,000.00	  	  	 	3.666666667	% 
	 UBS AG, Stamford Branch
	  	$	110,000,000.00	  	  	 	3.666666667	% 
	 The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	  	$	95,000,000.00	  	  	 	3.166666667	% 
	 ING Bank N.V., London Branch
	  	$	95,000,000.00	  	  	 	3.166666667	% 
	 Mizuho Corporate Bank, Ltd.
	  	$	95,000,000.00	  	  	 	3.166666667	% 
	 Morgan Stanley Bank, N.A.
	  	$	95,000,000.00	  	  	 	3.166666667	% 
	 The Royal Bank of Scotland plc
	  	$	95,000,000.00	  	  	 	3.166666667	% 
	 Sumitomo Mitsui Banking Corporation
	  	$	95,000,000.00	  	  	 	3.166666667	% 
	 Banco Santander S.A. New York Branch
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 The Bank of New York Mellon
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 Commerzbank AG New York and Grand Cayman Branches
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 Nomura International plc
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 Nordea Bank Finland plc New York and Cayman Islands Branches
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 PNC Bank, National Association
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 Societe Generale
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 The Toronto-Dominion Bank New York Branch
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 U.S. Bank National Association
	  	$	83,000,000.00	  	  	 	2.766666667	% 
	 Lloyds TSB Bank plc
	  	$	60,000,000.00	  	  	 	2.000000000	% 
	 The Northern Trust Company
	  	$	60,000,000.00	  	  	 	2.000000000	% 
	 State Street Bank and Trust Company
	  	$	60,000,000.00	  	  	 	2.000000000	% 
	 Unicredit Bank AG, New York Branch
	  	$	50,000,000.00	  	  	 	1.666666667	% 
	 Scotiabanc Inc.
	  	$	41,500,000.00	  	  	 	1.383333333	% 
	 The Bank of Nova Scotia
	  	$	41,500,000.00	  	  	 	1.383333333	% 
	 Australia and New Zealand Banking Group Limited
	  	$	35,000,000.00	  	  	 	1.166666667	% 
	 Credit Agricole Corporate & Investment Bank
	  	$	35,000,000.00	  	  	 	1.166666667	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	3,000,000,000	  	  	 	100.000000000	% 
		  	  
	  
	 	  	  
	  
	 

  
 Schedule
2.01 

 SCHEDULE 4.06 

DISCLOSED MATTERS 

Please see (1) Item 3 in the Form 10-K of MetLife, Inc. for the fiscal year ended December 31, 2010, (2) Part 2, Item 1 in the
Form 10-Q of MetLife, Inc. for the fiscal quarter ended March 31, 2011, and (3) Part 2, Item 1 in the Form 10-Q of MetLife, Inc. for the fiscal quarter ended June 30, 2011, each filed with the Securities and Exchange Commission
at www.sec.gov. 

  

					
		  	1	  	Schedule 4.06

 SCHEDULE 10.02 

ADMINISTRATIVE AGENT’S OFFICE, 
 CERTAIN ADDRESSES FOR NOTICES 
 BORROWERS: 

MetLife, Inc. 
 MetLife Funding, Inc.

 1095 Avenue of the Americas 
 New
York, NY 10036 
 Attention: Marlene B. Debel 
 Telephone: 212-578-3470 
 Electronic Mail: mdebel@metlife.com 

Website Address: www.metlife.com 

ADMINISTRATIVE AGENT: 

Administrative Agent’s Office 

(for payments and Requests for Credit Extensions): 
 Bank of America, N.A. 
 901 Main Street 
 Mail Code: TX1-492-14-12 
 Dallas, TX 75202-3714 

Attention: Karen Puente/Credit Services 

Telephone: 214-209-4108 
 Facsimile: 214-290-8378

 Electronic Mail: karen.r.puente@baml.com 
 Account No.: 1292000883 
 Ref: MetLife, Inc. 

ABA# 026009593 
 Other Notices as
Administrative Agent 
 Bank of America, N.A. 
 Agency Management 
 1455 Market Street, 5th Floor 
 CA5-701-05-19 
 San Francisco, CA 95103 
 Attention: Aamir Saleem 
 Telephone: 415-436-2769 

Facsimile: 415-503-5089 
 Electronic Mail:
aamir.saleem@baml.com 

  

					
		  	1	  	Schedule 10.02

 FRONTING L/C ISSUER: 

 

			
	Bank of America, N.A.
	Trade Operations-Los Angeles #22621
	1000 W. Temple Street
	Mail Code: CA9-705-07-05
	Los Angeles, CA 90012-1514

			
	Attention:	  	Sandra Leon
	 Vice President

	Telephone:	  	213-417-9524
	Facsimile:	  	213-457-8841
	Electronic Mail:	  	sandra.leon@baml.com

 with copies to: 
 Bank of America, N.A. 
 Agency Management 

1455 Market Street, 5th Floor 

CA5-701-05-19 
 San Francisco, CA 95103

 Attention: Aamir Saleem 
 Telephone:
415-436-2769 
 Facsimile: 415-503-5089 

Electronic Mail: aamir.saleem@baml.com 
 and

 Bank of America, N.A. 
 901 Main
Street 
 Mail Code: TX1-492-14-12 

Dallas, TX 75202-3714 
 Attention: Karen
Puente/Credit Services 
 Telephone: 214-209-4108 
 Facsimile: 214-290-8378 
 Electronic Mail: karen.r.puente@baml.com 

Account No.: 1292000883 
 Ref: MetLife, Inc.

 ABA# 026009593 

  

					
		  	2	  	Schedule 10.02

 SEVERAL L/C AGENT: 
 Bank of America, N.A. 
 Trade Operations-Los Angeles #22621 

1000 W. Temple Street 
 Mail Code: CA9-705-07-05

 Los Angeles, CA 90012-1514 

Attention: Sandra Leon, Vice President 

Telephone: 213-417-9524 
 Facsimile: 213-457-8841

 Electronic Mail: sandra.leon@baml.com 
 with copies to: 
 Bank of America, N.A. 

Agency Management 
 1455
Market Street, 5th Floor 

CA5-701-05-19 
 San Francisco, CA 95103

 Attention: Aamir Saleem 
 Telephone
415-436-2769 
 Facsimile: 415-503-5089 

Electronic Mail: aamir.saleem@baml.com 
 and

 Bank of America, N.A. 
 901 Main
Street 
 Mail Code: TX1-492-14-12 

Dallas, TX 75202-3714 
 Attention: Karen
Puente/Credit Services 
 Telephone: 214-209-4108 
 Facsimile: 214-290-8378 
 Electronic Mail: karen.r.puente@baml.com 

  

					
		  	3	  	Schedule 10.02

 EXHIBIT A 

FORM OF LOAN NOTICE 
 Date:             ,          
 To: Bank of America, N.A., as Administrative Agent 
 Ladies and Gentlemen: 

Reference is made to that certain Five-Year Credit Agreement dated as of August 12, 2011 (as amended, restated, extended,
supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), amending and restating that certain 364-Day Credit Agreement dated as of
October 15, 2010, among MetLife, Inc. and MetLife Funding, Inc. (together the “Borrowers”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Fronting L/C Issuer and Several L/C
Agent. 
 The undersigned hereby requests (select one): 

 ̈  A Borrowing of Loans     ̈  A conversion or continuation of Loans 
  

	 	1.	With                      as Borrower. 

 

	 	2.	On                      (a Business Day). 

 

	 	3.	In the amount of $        . 

  

	 	4.	Comprised of                     . 

[Type of Loan requested] 
  

	 	5.	For Eurodollar Rate Loans: with an Interest Period of      months. 

The Borrowing requested herein complies with the proviso to the first sentence of Section 2.01 of the Agreement. 

 

			
	[BORROWER]
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	

  

					
		  	1	  	Exhibit A

 EXHIBIT B 

FORM OF NOTE 
  

                     

 FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to
[                    ] or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter
defined), the principal amount of each Loan from time to time made by the Lender to the Borrower under that certain Five-Year Credit Agreement dated as of August 12, 2011 (as amended, restated, extended, supplemented or otherwise modified in
writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), amending and restating that certain 364-Day Agreement dated as of October 15, 2010, among MetLife, Inc., MetLife
Funding, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Fronting L/C Issuer and Several L/C Agent. 
 The Borrower promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as
provided in the Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid
in full when due (after any applicable grace period in the case of any amount other than principal) under the Agreement, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and
before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes
referred to in the Agreement, is entitled to the benefits thereof, subject to the provisions therein, and may be prepaid in whole or in part subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of
the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one
or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also endorse on the schedules to this Note the date, amount and maturity of its Loans and payments with respect thereto. 

The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest,
demand, dishonor and non-payment of this Note. 

  

					
		  	1	  	Exhibit B

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE. 
  

			
	[BORROWER]
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	

  

					
		  	2	  	Exhibit B

 LOANS AND PAYMENTS WITH RESPECT THERETO 

 

													
	 Date
	  	Type of Loan
Made	  	Amount of
Loan Made	  	End of
Interest
Period	  	Amount of
Principal or
Interest Paid
This Date	  	Outstanding
Principal
Balance This
Date	  	Notation
Made By
							
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	

  

					
		  	3	  	Exhibit B

 EXHIBIT C 

ASSIGNMENT AND ASSUMPTION 
 This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor]
(the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended,
supplemented or modified from time to time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and
incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an
agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit
Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below, (i) all of the Assignor’s rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered
pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including, without limitation, the
Letters of Credit, included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person,
whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the credit transactions governed thereby or in any way based on or related to any of the foregoing,
including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights
and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and,
except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 
  

	1.	Assignor:
                                        

  

	2.	Assignee:
                                         [and is
an 

 Affiliate/Approved Fund of [identify Lender]1] 

 

	3.	Borrowers: MetLife, Inc. and MetLife Funding, Inc. 

  

	4.	Administrative Agent: Bank of America, N.A., as the administrative agent under the Credit Agreement 

 

	5.	Credit Agreement: Five-Year Credit Agreement dated as of August 12, 2011, amending and restating that certain 364-Day Credit Agreement dated as of October 15,
2010, among MetLife, Inc., MetLife Funding, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Fronting L/C Issuer and Several L/C Agent. 

 

	1 	 Select as applicable. 

  

					
		  	1	  	Exhibit C

	6.	Assigned Interest: 

  

													
	Aggregate
Amount of
Commitment
for all Lenders	 	 	Amount
of
Commitment
Assigned2	 	 	Percentage
Assigned
of
Commitment/Loans3	 	 	CUSIP
Number
				
	$	            	  	 	$	            	  	 	 	    	% 	 	
	$	            	  	 	$	            	  	 	 	    	% 	 	
	$	            	  	 	$	            	  	 	 	    	% 	 	

 [7. Trade Date:
                    
]4 

Effective Date:             , 20     [TO BE INSERTED BY
ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms
set forth in this Assignment and Assumption are hereby agreed to: 
  

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	  

	Title:	 	
	
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	  

	Title:	 	

  

	2	 The amount of the
Commitment assigned by the Assignor pursuant to this Assignment and Assumption (determined as of the date this Assignment and Assumption is delivered to the Administrative Agent) shall not be less than $5,000,000, unless (a) the Assignee under
this Assignment and Assumption is a Lender or an Affiliate of a Lender, (b) the Commitment assigned by the Assignor pursuant to this Assignment and Assumption is the entire remaining amount of the Assignor’s Commitment, or (c) the
Administrative Agent otherwise consents. 

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

	4	 To be completed if
the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date. 

  

					
		  	2	  	Exhibit C

 Consented to and Accepted: 

 

			
	 BANK OF AMERICA, N.A.5, as
Administrative Agent6, Fronting L/C Issuer7
and [Several L/C Agent]8

		
	By:	 	  

	Title:	 	
	
	[Consented to:
	
	METLIFE, INC.
		
	By:	 	  

	Title:	 	
	
	METLIFE FUNDING, INC.
		
	By:	 	  

	Title:]9	 	

  

	5	 No consent and
acceptance shall be necessary in the event of an assignment to a Lender or an Affiliate of a Lender. 

	6	 No consent and
acceptance shall be necessary in the event of an assignment to a Lender or an Affiliate of a Lender. 

	7	 No consent and
acceptance shall be necessary in the event of an assignment to a Lender or an Affiliate of a Lender. 

	8	 Insert only if
Bank of America consent is required as the Several L/C Agent pursuant to Section 10.07 of the Credit Agreement 

	9	 To be added so
long as no Event of Default under the Credit Agreement shall have occurred and be continuing. No consent and acceptance shall be necessary in the event of an assignment to a Lender or an Affiliate of a Lender. 

  

					
		  	3	  	Exhibit C

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 
 1. Representations and Warranties. 

1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned
Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and
to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document,
(ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of either Borrower or any other Person obligated in respect of any
Loan Document, or (iv) the performance or observance by the Borrowers or Affiliates or any other Person of any of their respective obligations under any Loan Document. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption
and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may be required
under the Credit Agreement), (iii) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire the
Assigned Interest, is experienced in acquiring assets of such type, (iv) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall
have (in addition to any such rights and obligations otherwise held by it) the obligations of a Lender thereunder, (v) it has received a copy of the Credit Agreement and has received, or has been afforded the opportunity to receive, copies of
the most recent financial statements delivered pursuant to Section 4.04 or Section 6.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, (vi) it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and based on such
documentation and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, and (vii) if it is a Foreign Lender, attached hereto is
any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent,
the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform
in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other
amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. 

  

					
		  	4	  	Exhibit C

 3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York applicable to agreements made and to be performed entirely within such state. 

  

					
		  	5	  	Exhibit C

 EXHIBIT D-1 

FORM OF OPINION OF METLIFE IN HOUSE COUNSEL 
  

  

					
		  	1	  	Exhibit D-1

 EXHIBIT D-2 

FORM OF OPINION OF DEWEY & LEBOEUF LLP 
  

  

					
		  	1	  	Exhibit D-2

 Exhibit E 

FORM OF FRONTED LETTER OF CREDIT 
 IRREVOCABLE STANDBY LETTER OF CREDIT NO.                      

BANK OF AMERICA, N.A. 
 1000 WEST TEMPLE STREET, 7TH FLOOR 
 CA9-705-07-05 

LOS ANGELES, CA 90012-1514 

DATE:                      

FOR INTERNAL IDENTIFICATION PURPOSES ONLY. 
  

					
	BENEFICIARY:	 		 	EFFECTIVE DATE:                     
	  
	 		 	LETTER OF CREDIT NO.:                     
	  
	 		 	
	  
	 		 	
	  
	 		 	
	  
	 		 	

 For the account of [MetLife, Inc.] [MetLife Funding, Inc.] [Subsidiary of MetLife, Inc. or MetLife
Funding, Inc.]10, we, Bank of America, N.A., hereby issue
this irrevocable Letter of Credit No.                      in your favor as beneficiary available for an aggregate amount up to the maximum amount of
[US$             (             United States Dollars)] [EUR
             (             Euros)], effective as of the date first set forth above and expiring at the close of business at our
office located at 1000 West Temple Street, 7th Floor, CA9-705-07-05, Los Angeles, CA 90012-1514, Attn: Standby Letter of Credit Department or such other office in the United States as we shall notify you in writing, on the Expiration Date (as
defined below). 
 Funds under this Letter of Credit are available to you on or prior to the Expiration Date as then in effect against your
sight draft(s) drawn on us, signed by your duly authorized officer, bearing the clause “Drawn under Letter of Credit No.
                    .” Partial and multiple drawings are permitted. All drafts must be presented to us at our address at 1000 West Temple
Street, 7th Floor, CA9-705-07-05, Los Angeles, CA 90012-1514, Attn: Standby Letter of Credit Department or such other office in the United States as we shall notify you in writing, in one lot along with this original Letter of Credit and amendments
hereto, if any. 
 This Letter of Credit sets forth in full the terms of our undertaking to you and, except as expressly set forth herein, is
not subject to any agreement, condition or qualifications. Such undertaking to you shall not in any way be modified, amended or amplified by reference to any document or instrument referred to herein or in which this Letter of Credit is referred to
or to which this Letter of Credit relates and any such reference shall not be deemed to incorporate herein by reference any document or instrument. Our obligations under this Letter of Credit are in no way contingent upon reimbursement of this
Letter of Credit. 
  

	10 	 Select as applicable. 

  

					
		  	1	  	Exhibit E

 This Letter of Credit may expire or be extended from time to time as provided in the immediately succeeding
paragraph. 
 Unless we have notified you in writing prior to the thirtieth (30th) day preceding the Expiration Date then in effect that we have
elected not to extend this Letter of Credit, this Letter of Credit shall be automatically extended for a period of one year from the Expiration Date then in effect. 
 “Expiration Date” means [specify initial Expiration Date that is one year after the Effective Date]11, or, if this Letter of Credit is extended from time to time as provided in the immediately preceding paragraph, the
latest date to which this Letter of Credit is extended. 
 This Letter of Credit is subject to the [Article 5 of the Uniform
Commercial Code of the State of                     ][Uniform Customs and Practice for Documentary Credits (2007 Revision), [International Chamber of
Commerce Publication No. 600 (“UCP 600”)]] [“International Standby Practices 1998” published by the Institute of International Law & Practice, Inc. (“ISP98”)].12 If this Letter of Credit expires [during an interruption of our
business due to Acts of God, riots, civil commotions, insurrections, wars, acts of terrorism or by any strikes or lockouts or any other causes beyond our control] [during an interruption of our business as described in [Article 36 of UCP 600]] [on a
day that we are closed and presentation is not timely made because of the closure as described in Rule 3.14 of
ISP98] 13, we hereby specifically agree to effect
payment if this Letter of Credit is drawn upon within 30 days after the resumption of our business. 
 Except in the case of sight drafts
presented under this Letter of Credit, all notices provided for in this Letter of Credit shall be in writing and delivered by overnight courier service or certified mail, return receipt requested. All notices given hereunder shall be deemed to have
been given on the date of receipt. 
  

			
	Yours faithfully,
	
	Bank of America, N.A.
		
	By:	 	  

		 	Name:
		 	Title:

  

	11 
	 Insert appropriate date. 

	12 
	 To be selected in accordance with applicable reinsurance reserve credit requirements. 

	13 
	 Select as applicable. 

  

					
		  	2	  	Exhibit E

 EXHIBIT F 

FORM OF SEVERAL LETTER OF CREDIT 
 IRREVOCABLE STANDBY LETTER OF CREDIT NO.                      

BANK OF AMERICA, N.A., SEVERAL L/C AGENT 
 1000 WEST TEMPLE STREET, 7TH FLOOR 
 CA9-705-07-05 

LOS ANGELES, CA 90012-1514 

DATE:                      

FOR INTERNAL IDENTIFICATION PURPOSES ONLY. 
  

					
	BENEFICIARY:	 		 	EFFECTIVE DATE:                     
	  
	 		 	LETTER OF CREDIT NO.:                     
	  
	 		 	
	  
	 		 	
	  
	 		 	
	  
	 		 	

 For the account of [MetLife, Inc.] [MetLife Funding, Inc.] [Subsidiary of MetLife, Inc. or MetLife
Funding, Inc.]14, we, the issuing banks listed below
(hereinafter referred to individually as a “Letter of Credit Bank,” and collectively as the “Letter of Credit Banks”), hereby issue this irrevocable Letter of Credit No.
                     in your favor as beneficiary available for an aggregate amount up to the maximum amount of
US$             (             United States Dollars) (the “Letter of Credit Amount”), effective as of the date first
set forth above and expiring at the close of business at the office of Bank of America, N.A., as Several L/C Agent (the “Several L/C Agent”), located at 1000 West Temple Street, 7th Floor, CA9-705-07-05, Los Angeles, CA 90012-1514, Attn:
Standby Letter of Credit Department or such other office in the United States as the Several L/C Agent shall notify you in writing, on the Expiration Date (as defined below). 
 The maximum liability of each Letter of Credit Bank with respect to any demand for payment made hereunder shall be its Commitment Share of the amount of such demand for payment, as follows: 

 

									
	 LETTER OF CREDIT BANK
	  	COMMITMENT
SHARE	 	 	MAXIMUM SHARE OF LETTER OF
CREDIT AMOUNT	 
			
	 [Lender]
	  	 	    	% 	 	$	            	  
			
	 [Lender]
	  	 	    	% 	 	$	            	  
			
	 [Lender]
	  	 	    	% 	 	$	            	  
		  	  
	  
	 	 	  
	  
	 
			
	 TOTAL
	  	 	100	% 	 	$	            	  
		  	  
	  
	 	 	  
	  
	 

  

	14 	 Select as applicable. 

  

					
		  	1	  	Exhibit F

 The obligations of the Letter of Credit Banks hereunder are several and not joint, and no Letter of Credit
Bank shall be responsible or otherwise liable for the failure of any other Letter of Credit Bank to perform its obligations hereunder, nor shall the failure of any Letter of Credit Bank to perform its obligations under this Letter of Credit relieve
any other Letter of Credit Bank of its obligations hereunder. Bank of America, N.A., solely in its capacity as the Several L/C Agent, shall have no liability for the obligations of any Letter of Credit Bank hereunder. 

Funds under this Letter of Credit are available to you on or prior to the Expiration Date as then in effect against your sight draft(s) presented to the
Several L/C Agent, signed by your duly authorized officer, bearing the clause “Drawn under Letter of Credit No.                     .”
Partial and multiple drawings are permitted. All drafts must be presented to the Several L/C Agent at its office at 1000 West Temple Street, 7th Floor, CA9-705-07-05, Los Angeles, CA 90012-1514, Attn: Standby Letter of Credit Department or such
other office in the United States as the Several L/C Agent shall notify you in writing, in one lot along with this original Letter of Credit and amendments hereto, if any. 
 This Letter of Credit sets forth in full the terms of our undertaking to you and, except as expressly set forth herein, is not subject to any agreement, condition or qualifications. Such undertaking to
you shall not in any way be modified, amended or amplified by reference to any document or instrument referred to herein or in which this Letter of Credit is referred to or to which this Letter of Credit relates and any such reference shall not be
deemed to incorporate herein by reference any document or instrument. Our obligations under this Letter of Credit are in no way contingent upon reimbursement of this Letter of Credit. 
 This Letter of Credit may be amended by the Several L/C Agent without your consent to delete a Letter of Credit Bank, add a Letter of Credit Bank, or change Commitment Shares; provided that such amendment
does not decrease the Letter of Credit Amount or the aggregate liability of the Letter of Credit Banks in respect of the Letter of Credit Amount.15 
 This
Letter of Credit may expire or be extended from time to time as provided in the immediately succeeding paragraph. 
 Unless we have notified you
in writing prior to the thirtieth (30th) day preceding the Expiration Date then in effect that we have elected not to extend this Letter of Credit, this Letter of Credit shall be automatically extended for a period of one year from the
Expiration Date then in effect. 
 “Expiration Date” means [specify initial Expiration Date that is one year after
the Effective Date]16, or, if this Letter of Credit is extended from time to time as provided in the immediately preceding paragraph, the
latest date to which this Letter of Credit is extended. 
 This Letter of Credit is subject to the [Article 5 of the Uniform
Commercial Code of the State of                     ][Uniform Customs and Practice for Documentary Credits (2007 Revision), [International Chamber of
Commerce Publication No. 600 (“UCP 600”)]] [“International Standby Practices 1998” published by the Institute of International Law & Practice, Inc. (“ISP98”)].17 If this Letter of Credit expires [during an interruption of business of the Several L/C Agent due to Acts of God, riots,
civil commotions, insurrections, wars, acts of terrorism or by any strikes or lockouts or any other causes beyond the control of the Several L/C Agent] [during an interruption of business as described in [Article 36 of UCP 600]] [on a day that the
Several L/C Agent is closed and presentation is not timely made 
  

	15 	Include only in Letters of Credit subject to ISP98. 

	16 	Insert appropriate date. 

	17 	To be selected in accordance with applicable reinsurance reserve credit requirements. 

  

					
		  	2	  	Exhibit F

 
because of the closure as described in Rule 3.14 of
ISP98]18, we hereby specifically agree to effect payment
if this Letter of Credit is drawn upon within 30 days after the resumption of our business. 
 Except in the case of sight drafts presented
under this Letter of Credit and the accompanying original of this Letter of Credit and any amendments, all notices provided for in this Letter of Credit shall be in writing and delivered by overnight courier service or certified mail, return receipt
requested. All notices given hereunder shall be deemed to have been given on the date of receipt. 
  

			
	Yours faithfully,
	
	Bank of America, N.A.,
as Several L/C Agent,
on behalf of the Letter of Credit Banks
		
	By:	 	  

		 	Name:
		 	Title:

  

	18 	 Select as applicable. 

  

					
		  	3	  	Exhibit F

 EXHIBIT G 

FORM OF 

CERTIFICATE OF A FINANCIAL OFFICER OF METLIFE, INC. 
 Reference is made to the Five-Year Credit Agreement dated as of August 12, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
MetLife, Inc., MetLife Funding, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Fronting L/C Issuer and Several L/C Agent. Each capitalized term used but not defined herein shall have the
meaning specified in the Credit Agreement. 
 The undersigned does hereby certify, in his or her capacity as a Financial Officer of MetLife,
Inc. and not in a personal capacity, to the best of his or her knowledge, as follows pursuant to Section 6.01(b) of the Credit Agreement: 
 (i) No Default has occurred and is continuing as of [            , 20    ][Insert details with respect to any Default
that has occurred, and any action taken or proposed to be taken with respect thereto]. 
 (ii) MetLife’s
compliance with Section 7.04 of the Credit Agreement is shown in calculations attached hereto as Exhibit A. 

(iii) Any changes in GAAP or SAP or the application thereof that has occurred since the most recently delivered financial
statements would be included in the [                    ] section of our Form [    ] filing for the period ended
[            , 20    ], which is located at http://www.sec.gov and in the Statutory Financial information provided with respect to Metropolitan Life Insurance
Company. 
 Dated: [            , 20    ] 

 

			
	METLIFE, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit
GPurchase Contract Agreement, dated as of September 19, 2012

 Exhibit 4(p) 

 
  

 
 PURCHASE CONTRACT AGREEMENT

 Dated as of September 19, 2012 
 among 
 GENESEE & WYOMING INC. 

and 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 
 as Purchase Contract Agent and 
 as Attorney-in-Fact for the Holders from
time to time as provided herein 
 and 
 WILMINGTON TRUST, NATIONAL ASSOCIATION, 
 as Trustee under the Indenture
referred to herein 
  
  

 

 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
	  	 	13	  
	 Section 1.03. Notices
	  	 	14	  
	 Section 1.04. Effect of Headings and Table of Contents
	  	 	14	  
	 Section 1.05. Successors and Assigns
	  	 	14	  
	 Section 1.06. Separability Clause
	  	 	14	  
	 Section 1.07. Benefits of Agreement
	  	 	14	  
	 Section 1.08. Governing Law
	  	 	15	  
	 Section 1.09. Waiver of Jury Trial
	  	 	15	  
	 Section 1.10. Conflict with Indenture
	  	 	15	  
	 Section 1.11. Legal Holidays
	  	 	15	  
	 Section 1.12. Counterparts
	  	 	15	  
	 Section 1.13. Inspection of Agreement
	  	 	15	  
	 Section 1.14. Calculations
	  	 	15	  
	 Section 1.15. UCC
	  	 	16	  
		
	ARTICLE 2	  			
	UNIT AND PURCHASE CONTRACT FORMS	  			
		
	 Section 2.01. Forms of Units and Purchase Contracts Generally
	  	 	16	  
	 Section 2.02. Form of Certificate of Authentication
	  	 	17	  
	 Section 2.03. Global Securities; Separation of Units
	  	 	17	  
	 Section 2.04. Recreation of Units
	  	 	18	  
		
	ARTICLE 3	  			
	THE UNITS AND PURCHASE CONTRACTS	  			
		
	 Section 3.01. Amount and Denominations
	  	 	19	  
	 Section 3.02. Rights and Obligations Evidenced by the Equity-Linked Securities
	  	 	19	  
	 Section 3.03. Execution, Authentication, Delivery and Dating
	  	 	19	  
	 Section 3.04. Temporary Equity-Linked Securities
	  	 	20	  
	 Section 3.05. Registration; Registration of Transfer and Exchange
	  	 	21	  
	 Section 3.06. Book-Entry Interests
	  	 	22	  
	 Section 3.07. Notices to Holders
	  	 	22	  
	 Section 3.08. Appointment of Successor Depositary
	  	 	23	  
	 Section 3.09. Definitive Securities
	  	 	23	  

  
 i 

					
	 Section 3.10. Mutilated, Destroyed, Lost and Stolen Securities
	  	 	23	  
	 Section 3.11. Persons Deemed Owners
	  	 	24	  
	 Section 3.12. Cancellation
	  	 	26	  
		
	ARTICLE 4	  			
	SETTLEMENT OF THE PURCHASE CONTRACTS	  			
		
	 Section 4.01. Settlement Rate
	  	 	26	  
	 Section 4.02. Representations and Agreements of Holders
	  	 	27	  
	 Section 4.03. Purchase Contract Settlement Fund
	  	 	28	  
	 Section 4.04. Settlement Conditions
	  	 	28	  
	 Section 4.05. Mandatory Settlement on the Mandatory Settlement Date
	  	 	28	  
	 Section 4.06. Early Settlement
	  	 	29	  
	 Section 4.07. Early Settlement Upon a Fundamental Change
	  	 	30	  
	 Section 4.08. Early Mandatory Settlement at the Company’s Election
	  	 	33	  
	 Section 4.09. Merger Termination Redemption
	  	 	35	  
	 Section 4.10. Acceleration of Mandatory Settlement Date
	  	 	37	  
	 Section 4.11. Registration of Underlying Shares and Transfer Taxes
	  	 	38	  
	 Section 4.12. Return of Purchase Contract Settlement Fund
	  	 	38	  
	 Section 4.13. No Fractional Shares
	  	 	39	  
		
	ARTICLE 5	  			
	ADJUSTMENTS	  			
		
	 Section 5.01. Adjustments to the Fixed Settlement Rates
	  	 	39	  
	 Section 5.02. Reorganization Events
	  	 	49	  
		
	ARTICLE 6	  			
	CONCERNING THE HOLDERS OF PURCHASE CONTRACTS	  			
	 Section 6.01. Evidence of Action Taken by Holders
	  	 	52	  
	 Section 6.02. Proof of Execution of Instruments and of Holding of Securities
	  	 	52	  
	 Section 6.03. Purchase Contracts Deemed Not Outstanding
	  	 	52	  
	 Section 6.04. Right of Revocation of Action Taken
	  	 	53	  
	 Section 6.05. Record Date for Consents and Waivers
	  	 	53	  
		
	ARTICLE 7	  			
	REMEDIES	  			
		
	 Section 7.01. Unconditional Right of Holders to Receive Shares of Class A Common Stock
	  	 	54	  
	 Section 7.02. Notice To Purchase Contract Agent; Limitation On Proceedings
	  	 	54	  
	 Section 7.03. Restoration of Rights and Remedies
	  	 	54	  
	 Section 7.04. Rights and Remedies Cumulative
	  	 	54	  
	 Section 7.05. Delay or Omission Not Waiver
	  	 	54	  
	 Section 7.06. Undertaking for Costs
	  	 	55	  

  
 ii 

					
	 Section 7.07. Waiver of Stay or Execution Laws
	  	 	55	  
	 Section 7.08. Control by Majority
	  	 	55	  
		
	ARTICLE 8	  			
	THE PURCHASE CONTRACT AGENT AND TRUSTEE	  			
		
	 Section 8.01. Certain Duties and Responsibilities
	  	 	55	  
	 Section 8.02. Notice of Default
	  	 	57	  
	 Section 8.03. Certain Rights of Purchase Contract Agent
	  	 	57	  
	 Section 8.04. Not Responsible for Recitals
	  	 	59	  
	 Section 8.05. May Hold Units and Purchase Contracts
	  	 	59	  
	 Section 8.06. Money Held in Custody
	  	 	59	  
	 Section 8.07. Compensation, Reimbursement and Indemnification
	  	 	59	  
	 Section 8.08. Corporate Purchase Contract Agent Required; Eligibility
	  	 	60	  
	 Section 8.09. Resignation and Removal; Appointment of Successor
	  	 	60	  
	 Section 8.10. Acceptance of Appointment by Successor
	  	 	61	  
	 Section 8.11. Merger; Conversion; Consolidation or Succession to Business
	  	 	62	  
	 Section 8.12. Preservation of Information; Communications to Holders
	  	 	62	  
	 Section 8.13. Tax Compliance
	  	 	62	  
		
	ARTICLE 9	  			
	SUPPLEMENTAL AGREEMENTS	  			
		
	 Section 9.01. Supplemental Agreements Without Consent of Holders
	  	 	63	  
	 Section 9.02. Supplemental Agreements With Consent of Holders
	  	 	64	  
	 Section 9.03. Execution of Supplemental Agreements
	  	 	64	  
	 Section 9.04. Effect of Supplemental Agreements
	  	 	65	  
	 Section 9.05. Reference to Supplemental Agreements
	  	 	65	  
	 Section 9.06. Notice of Supplemental Agreements
	  	 	65	  
		
	ARTICLE 10	  			
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  			
		
	 Section 10.01. Covenant Not to Consolidate, Merge, Convey, Transfer or Lease Property Except Under Certain
Conditions
	  	 	65	  
	 Section 10.02. Rights and Duties of Successor Entity
	  	 	66	  
	 Section 10.03. Officers’ Certificate and Opinion of Counsel Given to Purchase Contract
Agent
	  	 	66	  
		
	ARTICLE 11	  			
	COVENANTS OF THE COMPANY	  			
		
	 Section 11.01. Performance Under Purchase Contracts
	  	 	66	  
	 Section 11.02. Maintenance of Office Or Agency
	  	 	66	  
	 Section 11.03. Statements of Officers of the Company as to Default; Notice of Default
	  	 	67	  
	 Section 11.04. Existence
	  	 	67	  
	 Section 11.05. Company to Reserve Class A Common Stock
	  	 	67	  
	 Section 11.06. Covenants as to Class A Common Stock
	  	 	68	  
	 Section 11.07. Tax Treatment
	  	 	68	  

  
 iii

 EXHIBITS 
  

					
	 Exhibit A: Form of Unit 
	  	 	A-1	  
	 Exhibit B: Form of Purchase Contract
	  	 	B-1	  

  
 iv 

 PURCHASE CONTRACT AGREEMENT, dated as of September 19, 2012 among GENESEE &
WYOMING INC., a Delaware corporation (the “Company”), WILMINGTON TRUST, NATIONAL ASSOCIATION acting as purchase contract agent and attorney-in-fact for the Holders of Purchase Contracts (as defined herein) from time to time (the
“Purchase Contract Agent”) and WILMINGTON TRUST, NATIONAL ASSOCIATION, acting as trustee under the Indenture (as defined herein). 
 RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and
delivery of this Agreement and the Units and Purchase Contracts issuable hereunder. 
 All things necessary to make the Units
and the Purchase Contracts, when such are executed by the Company and authenticated on behalf of the Holders and delivered by the Purchase Contract Agent, as provided in this Agreement, the valid obligations of the Company and to constitute this
Agreement a valid agreement of the Company, in accordance with its terms, have been done. For and in consideration of the premises and the purchase of the Units (including the constituent parts thereof) by the Holders thereof, it is mutually agreed
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 have the meanings assigned to them in this Article 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; 

(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; and 
 (d) the following terms have the
meanings given to them in this Section 1.01(d): 
 “Acceleration Date” has the meaning set forth in
Section 4.10. 
 “Affiliate” means, when used with reference to a specified Person, any Person directly or
indirectly controlling, or controlled by or under direct or indirect common control with the Person specified. 

 “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 Market Value” (i) with respect to Class A Common Stock, means the average of the Daily VWAPs of the Class A Common Stock for the 20 consecutive Trading Days
beginning on, and including, the 23rd Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date, subject to adjustment as provided in Article 5 and (ii) with respect to any Exchange Property, has the meaning set forth
in Section 5.02(a). 
 “Applicants” has the meaning set forth in Section 8.12(b). 

“Bankruptcy Event” means the occurrence of one or more of the following events: 

(a) a decree or order by a court having jurisdiction in the premises shall have been entered adjudging the Company a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization of the Company under any Bankruptcy Law and if such decree or order shall have been entered more than 60 days prior to the last Trading Day of the 20 consecutive Trading Day
period during which the Applicable Market Value is determined, such decree or order shall have continued undischarged and unstayed for a period of 60 days; 
 (b) a decree or order by a court having jurisdiction in the premises for the appointment of a receiver or liquidator or trustee or assignee (or other similar official) in bankruptcy or insolvency of the
Company or of all or substantially all of its property, or for the winding up or liquidation of its affairs, shall have been entered and if such decree or order shall have been entered more than 60 days prior to the last Trading Day of the 20
consecutive Trading Day period during which the Applicable Market Value is determined, such decree or order shall have continued undischarged and unstayed for a period of 60 days; or 

(c) the Company shall institute proceedings to be adjudicated a voluntary bankrupt, or shall consent to the filing of a bankruptcy
proceeding against it, or shall file a petition or answer or consent seeking reorganization under any Bankruptcy Law, or shall consent to the filing of any such petition, or shall consent to the appointment of a receiver or liquidator or trustee or
assignee (or other similar official) in bankruptcy or insolvency of it or of its property, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. 

“Bankruptcy Law” means title 11 of the United States Code, as amended, or any similar foreign, federal or state law for
the relief of debtors. 
 “Beneficial Holder” 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 the Depositary (directly as a Depositary Participant or as an indirect participant, in each case in
accordance with the rules of the Depositary). 

  
 2 

 “Board of Directors” means the board of directors of the Company or any
duly authorized committee of that board or any director or directors to whom that board or committee shall have delegated its authority. 
 “Board Resolution” means one or more resolutions, certified by the secretary or an assistant secretary of the Company to have been duly adopted or consented to by the Board of Directors
and to be in full force and effect, delivered to the Purchase Contract Agent. 
 “Book-Entry Interest” means a
beneficial interest in a Global Security, 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, Sunday or any day on which banking institutions in New
York, New York are authorized or obligated by applicable law or executive order to close or be closed. 
 “Capital
Stock” means, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated) of or in such Person’s capital stock or other equity interests, and options, rights or warrants to
purchase such capital stock or other equity interests, whether now outstanding or issued after the Issue Date, but excluding any debt securities convertible or exchangeable into such equity. 

“Class A Common Stock” means the Class A common stock, par value $0.01 per share, of the Company as it existed on
the date of this Agreement, subject to Section 5.02. 
 “Clause (I) Distribution” has the meaning set
forth in Section 5.01(a)(iii). 
 “Clause (II) Distribution” has the meaning set forth in
Section 5.01(a)(iii). 
 “Clause (III) Distribution” has the meaning set forth in
Section 5.01(a)(iii). 
 “Clearing Agency” means an organization registered as a “clearing
agency” pursuant to Section 17A of the Exchange Act. 
 “close of business” means 5:00 p.m. (New York
City time). 
 “Code” means the Internal Revenue Code of 1986 (title 26 of the United States Code), as amended
from time to time. 
 “Company” means the Person named as the “Company” in the first paragraph of
this Agreement until a successor shall have become such pursuant to Article 10, and thereafter “Company” shall mean such successor. 
 “Component Note” means a Note, in global form and attached to a Global Unit, that (a) shall evidence the number of Notes specified therein that are components of the Units evidenced
by such Global Unit, (b) shall be registered on the security register for the Notes in the name of the Purchase Contract Agent, as attorney-in-fact of holder(s) of the Units of which such Notes form a part, and (c) shall be held by the
Purchase Contract Agent as attorney-in-fact of such holder(s), together with such Global Unit, as custodian of such Global Unit for the Depositary. 

  
 3 

 “Component Purchase Contract” means a Purchase Contract, in global form and
attached to a Global Unit, that (a) shall evidence the number of Purchase Contracts specified therein that are components of the Units evidenced by such Global Unit, (b) shall be registered on the Security Register in the name of the
Purchase Contract Agent, as attorney-in-fact of holder(s) of the Units of which such Purchase Contract forms a part, and (c) shall be held by the Purchase Contract Agent as attorney-in-fact of such holder(s), together with such Global Unit, as
custodian of such Global Unit for the Depositary. 
 “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. 
 “Corporate Trust Office” means the principal corporate trust office
of the Purchase Contract Agent at which, at any particular time, its corporate trust business shall be principally administered, which office at the date hereof is located at Rodney Square North, 1100 North Market Street, Wilmington, DE 19890.

 “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 “Daily VWAP” with respect to the Class A Common Stock means, on any date of determination, the per
share volume-weighted average price as displayed under the heading Bloomberg VWAP on Bloomberg page “GWR <equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of
trading on the relevant Trading Day until the scheduled close of trading on the relevant Trading Day (or if such volume weighted average price is unavailable, the market price of one share of the Class A 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). 
 “default” means any failure to comply with terms of this Agreement or any covenant contained herein. 
 “Definitive Equity-Linked Security” means an Equity-Linked Security in definitive form. 
 “Definitive Security” means any Security in definitive form. 

“Depositary” means a Clearing Agency that is acting as a depositary for the Equity-Linked Securities and in whose name,
or in the name of a nominee of that organization, shall be registered one or more Global Securities and which shall undertake to effect book-entry transfers of the Equity-Linked Securities as contemplated by Section 3.06, Section 3.07,
Section 3.08 and Section 3.09. 

  
 4 

 “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 of securities deposited with the Depositary. 
 “Determination Date” means each of (a) in the case of (x) a settlement of Purchase Contracts on the Mandatory Settlement Date or (y) a Merger Termination Redemption if the
Merger Termination Stock Price is greater than the Reference Price and the Company elected to pay cash in lieu of a portion, but not all, of any shares of Class A Common Stock that would otherwise be included in the Redemption Amount, the last
Trading Day of the 20 consecutive Trading Day period during which the Applicable Market Value or Redemption Market Value, as the case may be, is determined, (b) any Early Settlement Date, (c) any Early Mandatory Settlement Notice Date,
(d) any Fundamental Change Early Settlement Date, (e) the date of any Merger Redemption Notice, if the Company elected (or is deemed to have elected) to settle the Redemption Amount solely by delivering shares of Class A Common Stock,
and (f) any Acceleration Date. 
 “DTC” means The Depository Trust Company. 

“DWAC System” has the meaning set forth in Section 2.03(a). 

“Early Mandatory Settlement Date” has the meaning set forth in Section 4.08(a). 

“Early Mandatory Settlement Notice” has the meaning set forth in Section 4.08(b). 

“Early Mandatory Settlement Notice Date” has the meaning set forth in Section 4.08(b)(ii). 

“Early Mandatory Settlement Rate” shall be the Maximum Settlement Rate in effect on the Early Mandatory Settlement
Notice Date, unless the Daily VWAP of the Class A Common Stock for (x) 20 or more Trading Days in a period of 30 consecutive Trading Days ending on, and including, the Trading Day immediately preceding the Early Mandatory Settlement Notice
Date and (y) the last Trading Day in such period, in each case, exceeds 130% of the Threshold Appreciation Price in effect on each such Trading Day, in which case the “Early Mandatory Settlement Rate” shall be the Minimum
Settlement Rate on the Early Mandatory Settlement Notice Date. 
 “Early Mandatory Settlement Right” has the
meaning set forth in Section 4.08(a). 
 “Early Settlement” means, in respect of any Purchase Contract,
that the Holder of such Purchase Contract has elected to settle such Purchase Contract early pursuant to Section 4.06 or Section 4.07, as the case may be. 
 “Early Settlement Date” has the meaning set forth in Section 4.06(c). 
 “Early Settlement Notice” has the meaning set forth in Section 4.06(b)(i). 

  
 5 

 “Early Settlement Rate” means, for any Purchase Contract in respect of
which Early Settlement is applicable, the Minimum Settlement Rate in effect on the Early Settlement Date, unless the Holder of such Purchase Contract has elected to settle such Purchase Contract early in connection with a Fundamental Change pursuant
to Section 4.07, in which case the “Early Settlement Rate” for such Purchase Contract means the Fundamental Change Early Settlement Rate. 
 “Early Settlement Right” has the meaning set forth in Section 4.06(a). 
 “Effective Date” has the meaning set forth in Section 4.07(d). 
 “Equity-Linked Security” means a Unit or a Purchase Contract, as applicable. 
 “ERISA” has the meaning set forth in Section 4.02(iv). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any statute successor thereto, in each case as
amended from time to time, together with the rules and regulations promulgated thereunder. 
 “Exchange
Property” has the meaning set forth in Section 5.02(a). 
 “Ex-Date” when used with respect to
any issuance, dividend or distribution, means the first date on which the shares of Class A Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or
distribution in question from the Company or, if applicable, from the seller of the Class A Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market. 

“Fair Market Value” means, with respect to any asset, the price (after taking into account any liabilities relating to
such assets) that would be negotiated in an arm’s-length transaction for cash between a willing seller and a willing and able buyer, neither of which is under any compulsion to complete the transaction, as such price is determined in good faith
by the Board of Directors, as evidenced by a resolution of the Board of Directors. 
 “Fixed Settlement Rate”
has the meaning set forth in Section 4.01(c). 
 “Fundamental Change” shall be deemed to have occurred
upon the occurrence of any of the following: 
 (a) the Class A Common Stock (or other common stock receivable upon
settlement of the Purchase Contracts, if applicable) is not listed for trading on the NYSE, the NASDAQ Global Select Market, the NASDAQ Global Market or any other United States national securities exchange nor approved for trading on an established
automated over-the-counter trading market in the United States; 
 (b) the consummation of any acquisition (whether by means of
a liquidation, share exchange, tender offer, consolidation, recapitalization, reclassification, merger of the Company or any sale, lease or other transfer of all or substantially all of the consolidated assets of the Company and its Subsidiaries) or
a series of related transactions or events pursuant to which: 

  
 6 

 (i) 90% or more of the Class A Common Stock is exchanged for, converted
into or constitutes solely the right to receive cash, securities or other property; and 
 (ii) more than 10% of
such cash, securities or other property does not consist of shares of common stock that are, or that upon issuance will be, listed for trading on the NYSE, the NASDAQ Global Select Market, the NASDAQ Global Market or any other United States national
securities exchange or approved for trading on an established automated over-the-counter trading market in the United States; or 
 (c) a “person” or “group” within the meaning of Section 13(d) of the Exchange Act, other than the Company, any of its wholly owned Subsidiaries and any of their employee benefit
plans, files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or group has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of Class A
Common Stock representing more than 50% of the voting power of the Class A Common Stock. 
 “Fundamental Change
Early Settlement Date” has the meaning set forth in Section 4.07(b). 
 “Fundamental Change Early
Settlement Period” has the meaning set forth in Section 4.07(a). 
 “Fundamental Change Early Settlement
Rate” has the meaning set forth in Section 4.07(d). 
 “Fundamental Change Early Settlement
Right” has the meaning set forth in Section 4.07(a). 
 “Global Note” means a Note, as defined in
the Indenture, in global form that (a) shall evidence the number of Separate Notes specified therein, (b) shall be registered on the security register for the Notes in the name of the Depositary or its nominee, and (c) shall be held
by the Trustee as custodian for the Depositary. 
 “Global Purchase Contract” means a Purchase Contract in
global form that (a) shall evidence the number of Separate Purchase Contracts specified therein, (b) shall be registered on the Security Register in the name of the Depositary or its nominee, and (c) shall be held by the Purchase
Contract Agent as custodian for the Depositary. 
 “Global Security” means a Global Unit, a Global Purchase
Contract or a Global Note, as applicable. 
 “Global Unit” means a Unit in global form that (a) shall
evidence the number of Units specified therein, (b) shall be registered on the Security Register in the name of the Depositary or its nominee, (c) shall include, as attachments thereto, a Component Note and a Component Purchase Contract,
evidencing, respectively, a number of Notes and a number of Purchase Contracts, in each case, equal to the number of Units evidenced by such Unit in global form, and (d) shall be held by the Purchase Contract Agent as custodian for the
Depositary. 

  
 7 

 “Holder” means, with respect to a Unit or Purchase Contract, the Person in
whose name the Unit or Purchase Contract, as the case may be, is registered in the Security Register. 

“Indenture” means the Senior Indenture, dated as of September 19, 2012, between the Company and the Trustee
(including any provisions of the TIA that are deemed incorporated therein), as supplemented by the First Supplemental Indenture, dated as of September 19, 2012, between the Company and the Trustee, pursuant to which the Notes will be issued.

 “Installment Payment” has the meaning set forth in the Indenture. 

“Installment Payment Date” has the meaning set forth in the Indenture. 

“Issue Date” means September 19, 2012. 
 “Issuer Order” means a written statement, request or order of the Company, which is signed in its name by the chairman of the Board of Directors, the chief financial officer, the
president or chief executive officer, any senior vice president, any vice president or the treasurer of the Company, and delivered to the Purchase Contract Agent and/or the Trustee. 

“Mandatory Settlement Date” means the Scheduled Mandatory Settlement Date, subject to acceleration pursuant to
Section 4.10; provided that, if one or more of the 20 Scheduled Trading Days beginning on, and including the 23rd Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date is not a Trading Day, the
“Mandatory Settlement Date” shall be postponed until the third Scheduled Trading Day immediately following the last Trading Day of the 20 consecutive Trading Day period during which the Applicable Market Value is determined.

 “Market Disruption Event” means (a) a failure by the Reference Securities Exchange to open for trading
during its regular trading session or (b) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Class A 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 permitted limits or otherwise) in the Class A Common Stock or in any options contracts or future contracts relating to the Class A
Common Stock. 
 “Market Value” with respect to a Unit of Exchange Property has the meaning set forth in
Section 5.02(a). 
 “Maximum Redemption Rate” has the meaning set forth in Section 4.09(e).

 “Maximum Settlement Rate” has the meaning set forth under Section 4.01(b)(iii), subject to adjustment
pursuant to the terms of Article 5. 
 “Merger Redemption Notice” has the meaning set forth in
Section 4.09(a). 
 “Merger Redemption Rate” has the meaning set forth in Section 4.09(d).

  
 8 

 “Merger Redemption Settlement Date” means, with respect to any Merger
Termination Redemption: 
 (i) if (x) the Merger Termination Stock Price is greater than the Reference Price
and (y) the Company elects to pay cash in lieu of any or all shares of Class A Common Stock that would otherwise be included in the Redemption Amount, the third Business Day following the last Trading Day of the 20 consecutive Trading Day
period used to determine the Redemption Market Value; or 
 (ii) otherwise, the Scheduled Merger Redemption
Settlement Date specified in the Merger Redemption Notice. 
 “Merger Termination Redemption” has the meaning
set forth in Section 4.09(a). 
 “Merger Termination Stock Price” means the average of the Daily VWAPs of
the Class A Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding April 30, 2013. 
 “Minimum Redemption Rate” has the meaning set forth in Section 4.09(e). 
 “Minimum Settlement Rate” has the meaning set forth under Section 4.01(b)(i), subject to adjustment pursuant to the terms of Article 5. 

“Minimum Stock Price” has the meaning set forth under Section 4.07(f). 

“Notes” means the series of notes designated as the 4.50% Senior Amortizing Notes due October 1, 2015 to be issued
by the Company under the Indenture, and “Note” means each note of such series having an initial principal amount of $14.1023. 
 “NYSE” means the New York Stock Exchange, Inc. 

“Officers’ Certificate” means a certificate signed by the chairman of the Board of Directors, the president or
chief executive officer, or any vice president and by the chief financial officer, the treasurer, any assistant treasurer, the controller, any assistant controller, the secretary or any assistant secretary of the Company. Each such certificate shall
include the statements provided for in Section 1.02 if and to the extent required by the provisions of such Section 1.02. 
 “open of business” means 9:00 a.m. (New York City time). 

“Opinion of Counsel” means an opinion in writing signed by the chief counsel of the Company or by such other legal
counsel who may be an employee of or counsel to the Company. Each such opinion shall include the statements provided for in Section 1.02 if and to the extent required by the provisions of such Section 1.02. 

“Outstanding Purchase Contracts” means, subject to the provisions of Section 6.03, as of the date of determination,
all Purchase Contracts theretofor executed, authenticated on behalf of the Holder and delivered under this Agreement (including, for the avoidance of doubt, Purchase Contracts held as a component of Units and Separate Purchase Contracts), except:

  
 9 

 (a) Purchase Contracts theretofor 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 
 (b)
Purchase Contracts in exchange for or in lieu of which other Purchase Contracts have been executed, authenticated on behalf of the Holder and delivered pursuant to this Agreement, other than any such Purchase Contract in respect of which there shall
have been presented to the Purchase Contract Agent proof satisfactory to it that such Purchase Contract is held by a protected purchaser in whose hands the Purchase Contracts are valid obligations of the Company. 

“Participant” has the meaning set forth in Section 2.03(a). 

“Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint
stock company, trust, estate, unincorporated organization or government or any agency or political subdivision thereof. 

“Prospectus Supplement” means the preliminary prospectus supplement dated September 12, 2012, as supplemented
and/or amended by the pricing term sheet dated September 13, 2012, relating to the offering and sale of the Units. 

“Purchase Contract” means a prepaid stock purchase contract obligating the Company to deliver shares of Class A
Common Stock on the terms and subject to the conditions set forth herein. 
 “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 Article 8, and thereafter “Purchase Contract Agent” shall
mean such Person. 
 “Purchase Contract Settlement Fund” has the meaning set forth in Section 4.03.

 “Record Date” means, when used with respect to any dividend, distribution or other transaction or event in
which the holders of the Class A Common Stock have the right to receive any cash, securities or other property or in which the Class A Common Stock is exchanged for or converted into any combination of cash, securities or other property,
the date fixed for determination of holders of the Class A Common Stock entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). 

“Redemption Amount” has the meaning set forth in Section 4.09(c). 

“Redemption Market Value” means the average of the Daily VWAPs of the Class A Common Stock for the 20 consecutive
Trading Days beginning on, and including, the 23rd Scheduled Trading Day immediately preceding the Scheduled Merger Redemption Settlement Date. 
 “Reference Price” means $64.75, subject to adjustment pursuant to Section 5.01(e). 

  
 10 

 “Reference Securities Exchange” means the NYSE or, if the Class A
Common Stock is not then listed on the NYSE, the principal other United States national or regional securities exchange on which the Class A Common Stock is then listed or, if the Class A Common Stock is not then listed on a United States
national or regional securities exchange, the principal other market on which the Class A Common Stock is then listed or admitted for trading. 
 “Reorganization Event” has the meaning set forth in Section 5.02(a). 
 “Repurchase Date” has the meaning set forth in the Indenture. 

“Repurchase Price” has the meaning set forth in the Indenture. 

“Repurchase Right” has the meaning set forth in the Indenture. 

“Responsible Officer” means any officer of the Purchase Contract Agent with direct responsibility for the administration
of this Agreement. 
 “Scheduled Mandatory Settlement Date” means October 1, 2015. 

“Scheduled Merger Redemption Settlement Date” means, with respect to any Merger Termination Redemption: 

(i) if (x) the Merger Termination Stock Price is greater than the Reference Price and (y) the Company elects to
pay cash in lieu of any or all of the shares of Class A Common Stock that would otherwise be included in the Redemption Amount, a date, as specified in the relevant Merger Redemption Notice, that is at least 45 and no more than 60 calendar days
after the date of the Merger Redemption Notice; or 
 (ii) otherwise, a date, as specified in the relevant Merger
Redemption Notice, that is at least 5 and no more than 30 calendar days after the date of the Merger Redemption Notice. 

“Scheduled Trading Day” is a day that is scheduled to be a Trading Day on the Reference Securities Exchange. If the
Class A Common Stock is not listed or admitted for trading on any U.S. national or regional securities exchange or other market, “Scheduled Trading Day” means a Business Day. 

“Securities Act” means the Securities Act of 1933, as amended, and any statute successor thereto, in each case as
amended from time to time, and the rules and regulations promulgated thereunder. 
 “Security” means a Unit, a
Purchase Contract or a Note, as applicable. 
 “Security Register” has the meaning set forth in
Section 3.05. 
 “Security Registrar” has the meaning set forth in Section 3.05. 

“Separate Note” has the meaning set forth in Section 2.03(a). 

  
 11 

 “Separate Purchase Contract” has the meaning set forth in
Section 2.03(a). 
 “Settlement Date” means any Early Mandatory Settlement Date, Merger Redemption
Settlement Date or Mandatory Settlement Date or the third Business Day following any Fundamental Change Early Settlement Date or Early Settlement Date. 
 “Settlement Rate” has the meaning set forth in Section 4.01(b). 
 “Similar Laws” has the meaning set forth in Section 4.02(iv). 
 “Spin-Off” means the Company pays or makes a dividend or other distribution to all or substantially all holders of Class A Common Stock consisting of Capital Stock of, or similar
equity interests in a Subsidiary or other business unit of the Company that are, or, when issued, will be, listed or quoted on a U.S. national securities exchange. 
 “Stated Amount” means $100. 
 “Stock Price” has
the meaning set forth in Section 4.07(d). 
 “Subsidiary” of any Person means any corporation or other
entity of which a majority of the Capital Stock having ordinary voting power to elect a majority of the board of directors or other Persons performing similar functions of such corporation or other entity is at the time directly or indirectly owned
or controlled by such Person. 
 “Tender Offer Expiration Date” has the meaning set forth in
Section 5.01(a)(v). 
 “Tender Offer Expiration Time” has the meaning set forth in
Section 5.01(a)(v). 
 “Threshold Appreciation Price” means, on any date of determination, an amount equal
to the Stated Amount, divided by the Minimum Settlement Rate as of such date of determination (such quotient rounded to the nearest $0.0001). The Threshold Appreciation Price shall initially be $80.9389. 

“TIA” means the Trust Indenture Act of 1939, as amended from time to time. 

“Trading Day” means a day on which (a) there is no Market Disruption Event and (b) trading in the Class A
Common Stock generally occurs on the Reference Securities Exchange. If the Class A Common Stock is not listed or admitted for trading on any U.S. national or regional securities exchange or other market, “Trading Day” means a
Business Day. 
 “Trigger Event” has the meaning set forth in Section 5.01(a)(iii). 

“Trustee” means Wilmington Trust, National Association, as trustee under the Indenture, or any successor thereto.

 “Unit” means the collective rights of a Holder of a unit consisting of a single Purchase Contract and a
single Note prior to separation pursuant Section 2.03 or subsequent to recreation pursuant to Section 2.04. 

  
 12 

 “Unit of Exchange Property” has the meaning set forth in
Section 5.02(a). 
 Section 1.02. Compliance Certificates and Opinions. Upon any application or request
by the Company to the Purchase Contract Agent and/or Trustee to take any action in accordance with any provision of this Agreement, the Company shall furnish to the Purchase Contract Agent and/or Trustee, as applicable, an Officers’ 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. 
 Every Officers’ Certificate or opinion with respect to compliance with a condition or covenant
provided for in this Agreement shall include: 
 (i) a statement that each individual signing such Officers’
Certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 
 (ii) a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such Officers’ Certificate or opinion are based; 

(iii) 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 
 (iv) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
 Any certificate, statement 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 that the certificate or opinion or representations with respect to the matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that the same are
erroneous. Any certificate, statement or opinion of counsel may be based, insofar as it relates to factual matters relating to information that is in the possession of the Company, upon the certificate, statement or opinion of or representations by
an officer or officers of the Company, unless such counsel knows that the certificate, statement or opinion or representations with respect to the matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous, or
in the exercise of reasonable care should know that the same are erroneous. 
 Any certificate, statement or opinion of an
officer of the Company or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of or representations by an accountant or firm of accountants in the employ of the Company, unless such officer or counsel,
as the case may be, knows that the certificate or opinion or representations with respect to the accounting matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care
should know that the same are erroneous. 

  
 13 

 Any certificate or opinion of any independent firm of public accountants filed with and
directed to the Trustee shall contain a statement that such firm is independent. 
 Section 1.03. Notices.
Any notice or demand which by any provision of this Agreement is required or permitted to be given or served by the Purchase Contract Agent or by the Holders to or on the Company may be given or served by being deposited postage prepaid, first
class mail (except as otherwise specifically provided herein) addressed (until another address of the Company is filed by the Company with the Purchase Contract Agent) to Genesee & Wyoming Inc., 66 Field Point Road, Greenwich CT 06830. Any
notice, direction, request or demand by the Company or any Holder to or upon the Purchase Contract Agent or the Trustee shall be deemed to have been sufficiently given or served by being deposited postage prepaid, first class mail (except as
otherwise specifically provided herein) addressed (until another address of the Purchase Contract Agent or Trustee is filed by the Purchase Contract Agent or Trustee with the Company) to Wilmington Trust, National Association, Rodney Square North,
1100 North Market Street, Wilmington, DE 19890. 
 Where this Agreement provides for notice to Holders, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first class postage prepaid, to each Holder entitled thereto, at his last address as it appears in the Security Register; provided that, in the case of
a Global Unit or Global Purchase Contract, electronic notice may be given to the Depositary, as the Holder thereof, in accordance with applicable procedures of the Depositary. 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. 

Section 1.04. Effect of Headings and Table of Contents. The Article and Section headings herein and in the Table of
Contents are for convenience only and shall not affect the construction hereof. 
 Section 1.05. Successors and
Assigns. All covenants and agreements in this Agreement by the Company and the Purchase Contract Agent shall bind their respective successors and assigns, whether so expressed or not. 

Section 1.06. Separability Clause. In case any provision in this Agreement or in the Purchase Contracts 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 1.07. Benefits of Agreement. Nothing contained in this Agreement or in the Purchase Contracts, 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 Purchase Contracts by their acceptance of delivery of such Purchase Contracts. 

  
 14 

 Section 1.08. Governing Law. This Agreement, the Units and the Purchase
Contracts, and any claim, controversy or dispute arising under or related to this Agreement, the Units or the Purchase Contracts, shall be governed by, and construed in accordance with, the laws of the State of New York. 

Section 1.09. Waiver of Jury Trial. The Company, the Purchase Contract Agent and the Trustee each waive its respective
rights to trial by jury in any action or proceeding arising out of or related to the Purchase Contracts, this Agreement or the transactions contemplated hereby, to the extent permitted by law. 

Section 1.10. Conflict with Indenture. To the extent that any provision of this Purchase Contract Agreement relating
to or affecting the Notes conflicts with or is inconsistent with the Indenture, the Indenture shall govern. 

Section 1.11. Legal Holidays. In any case where any Settlement Date shall not be a Business Day, notwithstanding any
other provision of this Agreement or the Purchase Contracts, the settlement or redemption of the Purchase Contracts shall not be effected on such date, but instead shall be effected on the next succeeding Business Day with the same force and effect
as if made on such Settlement Date, and no interest or other amounts shall accrue or be payable by the Company or to any Holder in respect of such delay. 
 Section 1.12. Counterparts. This Agreement may be executed in any number of counterparts by the parties hereto on separate counterparts, 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. 

Section 1.13. Inspection of Agreement. A copy of this Agreement shall be available at all reasonable times during
normal business hours at Genesee & Wyoming Inc., 66 Field Point Road, Greenwich CT 06830 for inspection by any Holder or Beneficial Holder. 
 Section 1.14. Calculations and Adjustments. The performance of any calculations to be made hereunder shall be the sole obligation of the Company, and the Purchase Contract Agent shall
have no obligation to make such calculations. These calculations include, but are not limited to, determination of the applicable Settlement Rate, the Fixed Settlement Rates, the Early Settlement Rate, the Early Mandatory Settlement Rate, the Merger
Redemption Rate, the Fundamental Change Early Settlement Rate, the Applicable Market Value, the Redemption Market Value, the Market Value and the Daily VWAP, as the case may be. All such calculations made by the Company or its agent hereunder shall
be made in good faith and, absent manifest error, shall be final and binding on the Purchase Contract Agent, the Trustee, each Paying Agent and the Holders. For any calculations to be made by the Company or its agent hereunder, the Company shall
provide a schedule of such calculations to the Purchase Contract Agent and the Trustee, and each of the Purchase Contract Agent and the Trustee shall be entitled to conclusively rely upon the accuracy of the calculations by the Company or its agent
without independent verification, shall have no liability with respect thereto and shall have no liability to the Holders for any loss any of them may incur in connection with no independent verification having been done. Furthermore, the Purchase
Contract Agent shall not be under any duty or responsibility to determine whether any facts exist which may require any adjustment hereunder, or with respect to the nature or extent of any such adjustment when made, or with respect to the method
employed. 

  
 15 

 Section 1.15. UCC. Each Purchase Contract (whether or not included in a
Unit) is a security governed by Article 8 of the Uniform Commercial Code as in effect in the State of New York on the date hereof. 
 ARTICLE 2 
 Unit and Purchase Contract Forms 

Section 2.01. Forms of Units and Purchase Contracts Generally. (a) The Units and Purchase Contracts shall be in
substantially the forms set forth in Exhibit A and Exhibit B hereto, respectively, which shall be incorporated in and made a part of this Purchase Contract Agreement, 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 or Purchase Contracts, as the case may be, are (or may in the future be) listed or any depositary
therefor, or as may, consistently herewith, be determined by the officers of the Company executing such Units and Purchase Contracts, as the case may be, as evidenced by their execution thereof. 

(b) The Units and Purchase Contracts shall be issuable only in registered form and only in denominations of a single Unit or Purchase
Contract, as the case may be, and any integral multiple thereof. 
 (c) The Units will initially be issued in the form of one or
more fully registered Global Units as set forth in Section 3.06. The Purchase Contracts will initially be issued as Component Purchase Contracts substantially in the form of Attachment 3 to the form of Global Unit attached as Exhibit A hereto,
and will be attached to the related Global Unit and registered in the name of Wilmington Trust, National Association, as attorney-in-fact of the holder(s) of such Global Unit. 
 (d) Definitive Securities shall be printed, lithographed or engraved with steel engraved borders or may be produced in any other manner, all as determined by the officers of the Company executing the
Units or Purchase Contracts, as the case may be, evidenced by such Definitive Securities, consistent with the provisions of this Agreement, as evidenced by their execution thereof. 

(e) Every Global Unit and Global Purchase Contract executed, authenticated on behalf of the Holders and delivered hereunder shall bear a
legend in substantially the following form: 
 “THIS SECURITY IS A GLOBAL [UNIT / PURCHASE CONTRACT] WITHIN THE MEANING OF
THE PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN CERTIFICATED FORM,

  
 16 

 
THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”) TO THE NOMINEE OF THE DEPOSITARY OR BY A NOMINEE
OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT 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 INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.” 
 Section 2.02. Form of Certificate of Authentication. The form of certificate of
authentication of the Units and Purchase Contracts shall be in substantially the form set forth in the form of Unit or form of Purchase Contract, respectively, attached hereto. 

Section 2.03. Global Securities; Separation of Units.  

(a) On any Business Day during the period beginning on, and including, the Business Day immediately following the Issue Date to, but
excluding, the third Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date, any Early Mandatory Settlement Date or any Merger Redemption Settlement Date and also excluding the Business Day immediately preceding any
Installment Payment Date (provided that, for the avoidance of doubt, such right to separate the Units shall resume after such Business Day), a Holder or Beneficial Holder of a Unit may separate such Unit into its constituent Purchase Contract
and Note (each such separated Purchase Contract and separated Note, a “Separate Purchase Contract” and “Separate Note,” respectively), which will thereafter trade under their respective CUSIP numbers (371559 113)
and (371559 AA3), and that Unit will cease to exist. Beneficial interests in a Unit, and after separation, the Separate Purchase Contract and Separate Note, will be shown on and transfers will be effected through direct or indirect participants in
DTC. Beneficial interests in Units, Separate Purchase Contracts and Separate Notes will be evidenced by Global Units, Global Purchase Contracts and Global Notes, respectively. In order to separate a Unit into its component parts, a Beneficial Holder
must deliver written instruction to the broker or other direct or indirect participant (the “Participant”) through which it holds an interest in such Unit to notify DTC through DTC’s Deposit/Withdrawal at Custodian System (the
“DWAC System”) of such Beneficial Holder’s election to separate such Unit, following which the Purchase Contract Agent or Trustee, as applicable, shall register (i) a decrease in the number of Units represented by the
Global Unit and the number of Purchase Contracts and Notes represented by the Component Purchase Contract and the Component Note attached to the Global Unit as Attachments 3 and 4, respectively, as set forth in Schedule A to each such attachment,
and (ii) a corresponding increase in the number of Purchase Contracts and Notes 

  
 17 

 
represented by the Global Purchase Contract and the Global Note, respectively. If, however, such Unit is in the form of a Definitive Security in accordance with Section 3.09, the Holder
thereof must deliver to the Purchase Contract Agent such Unit, together with a separation notice, in the form set forth in Attachment 1 to the form of Unit attached hereto as Exhibit A. Upon the receipt of such separation notice, the Company shall
promptly cause delivery, in accordance with the delivery instructions set forth in such separation notice, of one Separate Purchase Contract and one Separate Note for each such Unit. Separate Purchase Contracts and Separate Notes will be
transferable independently from each other. 
 (b) Holders that separate the Note and related Purchase Contract in accordance
with this Section 2.03 shall be responsible for any fees or expenses payable in connection with such separation, and neither the Company, the Purchase Contract Agent nor the Trustee shall be liable for any such fees or expenses. 

Section 2.04. Recreation of Units.  
 (a) On any Business Day during the period beginning on, and including, the Business Day immediately following the Issue Date to, but excluding, the third Scheduled Trading Day immediately preceding the
Mandatory Settlement Date, any Early Mandatory Settlement Date or any Merger Redemption Settlement Date and also excluding the Business Day immediately preceding any Installment Payment Date (provided that, for the avoidance of doubt, such
right to recreate the Units shall resume after such Business Day), a Holder or Beneficial Holder of a Separate Purchase Contract and a Separate Note may recreate a Unit (which will thereafter trade under the CUSIP number (371559 204) for the Units),
and each such Separate Purchase Contract and Separate Note will cease to exist. In order to recreate a Separate Purchase Contract and Separate Note into a Unit, a Beneficial Holder must deliver written instruction to the Participant through which it
holds an interest in such Separate Purchase Contract and Separate Note to notify DTC through the DTC’s DWAC System of such Beneficial Holder’s election to recreate a Unit, following which the Purchase Contract Agent or Trustee, as
applicable, shall register (i) an increase in the number of Units represented by the Global Unit and the number of Purchase Contracts and Notes represented by the Component Purchase Contract and the Component Note attached to the Global Unit as
Attachments 3 and 4, respectively, as set forth in Schedule A to each such attachment, and (ii) a corresponding decrease in the number of Purchase Contracts and Notes represented by the Global Purchase Contract and Global Note, respectively.
If, however, such Separate Purchase Contract and Separate Note are in the form of Definitive Securities, the Holder thereof must deliver to the Purchase Contract Agent such Definitive Securities, together with a recreation notice, in the form set
forth in Attachment 2 to the form of Unit attached hereto as Exhibit A. Upon the receipt of such recreation notice, the Company shall promptly cause delivery, in accordance with the delivery instructions set forth in such recreation notice, of one
Unit in definitive form for such Definitive Securities. 
 (b) Holders that recreate Units in accordance with this
Section 2.04 shall be responsible for any fees or expenses payable in connection with such recreation, and neither the Company, the Purchase Contract Agent nor the Trustee shall be liable for any such fees or expenses. 

  
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 ARTICLE 3 
 THE UNITS AND PURCHASE CONTRACTS 
 Section 3.01. Amount and Denominations. The aggregate number of Units and Separate Purchase Contracts evidenced by Equity-Linked Securities executed, authenticated on behalf of the
Holders and delivered hereunder is limited to 2,300,000, except for Units and Separate Purchase Contracts executed, authenticated and delivered upon registration of transfer of, in exchange for, or in lieu of, other Units and Separate Purchase
Contracts pursuant to Section 3.04, Section 3.05, Section 3.10 or Section 9.05. 
 Equity-Linked Securities
that are not in the form of Global Securities shall be issuable in denominations of one Equity-Linked Security and integral multiples in excess thereof. 
 Section 3.02. Rights and Obligations Evidenced by the Equity-Linked Securities. Each Equity-Linked Security shall evidence the number of Units or Separate Purchase Contracts, as the
case may be, specified therein, with (a) each such Unit representing the rights and obligations of the Holder thereof and of the Company under one Purchase Contract, and the rights and obligations of the Holder thereof and of the Company under
one Note, and (b) each such Separate Purchase Contract representing the rights and obligations of the Holder thereof and of the Company under one Separate Purchase Contract. In the case of a Unit, the Holder of such Unit shall, for all purposes
hereunder and under the Indenture, be deemed to be the Holder of the Note and Purchase Contract that are components of such Unit. 
 Prior to the close of business on (x) the last Trading Day of the 20 consecutive Trading Day period during which the Applicable Market Value is determined with respect to any Purchase Contract or
(y) if applicable, any earlier Determination Date with respect to such Purchase Contract (in each case, whether such Purchase Contract is held as a component of a Unit or as a Separate Purchase Contract), the shares of Class A Common Stock
underlying such Purchase Contract shall not be outstanding, and such Purchase Contract shall not entitle the Holder thereof to any of the rights of a holder of Class A Common Stock, including, without limitation, the right to vote or receive
any dividends or other distributions or to consent or to receive notice as a shareholder in respect of the meetings of shareholders or for the election of directors for any other matter, or any other rights whatsoever as a shareholder of the
Company. 
 Section 3.03. Execution, Authentication, Delivery and Dating. Upon the execution and delivery of
this Agreement, and at any time and from time to time thereafter, the Company may deliver Equity-Linked Securities executed by the Company and the Purchase Contract Agent as attorney-in-fact for the Holders of Purchase Contracts from time to time
(in the case of Purchase Contracts or Units), to the Purchase Contract Agent and Trustee for authentication on behalf of the Holders and delivery, together with the Issuer Order for authentication of such Equity-Linked Securities, and the Purchase
Contract Agent and Trustee in accordance with such Issuer Order shall authenticate on behalf of the Holders and deliver such Equity-Linked Securities. 
 The Equity-Linked Securities shall be executed on behalf of the Company by any authorized officer of the Company and in the case of the Purchase Contracts, shall be executed on behalf of the Holders by
any authorized officer of the Purchase Contract Agent as attorney-in-fact for the Holders of Purchase Contracts from time to time. The signature of any such officer on the Equity-Linked Securities may be manual or facsimile. 

  
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 Equity-Linked Securities bearing the manual or facsimile signature of an individual who was
at any time the proper officer of the Company or, in the case of the Purchase Contracts, the Purchase Contract Agent, shall bind the Company and the Holders of Purchase Contracts, as the case may be, notwithstanding that such individual has ceased
to hold such offices prior to the authentication and delivery of such Equity-Linked Securities or did not hold such offices at the date of such Equity-Linked Securities. 
 Each Equity-Linked Security shall be dated the date of its authentication. 
 No
Equity-Linked Security shall be entitled to any benefit under this Agreement or be valid or obligatory for any purpose unless there appears on such Equity-Linked Security a certificate of authentication substantially in the form provided for herein
executed by an authorized officer of the Purchase Contract Agent and Trustee (if applicable) by manual signature, and such certificate upon any Equity-Linked Security shall be conclusive evidence, and the only evidence, that such Equity-Linked
Security has been duly authenticated and delivered hereunder. 
 Section 3.04. Temporary Equity-Linked
Securities. Pending the preparation of Definitive Equity-Linked Securities, the Company shall execute and deliver to the Purchase Contract Agent and, in the case of Units, Trustee, and the Purchase Contract Agent and, if applicable, Trustee
shall authenticate on behalf of the Holders, and deliver, in lieu of such Definitive Equity-Linked Securities, temporary Equity-Linked Securities that are in substantially the form set forth in Exhibit A or Exhibit B 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 Units or Separate Purchase
Contracts, as the case may be, are listed, or as may, consistently herewith, be determined by the officers of the Company executing such Equity-Linked Securities, as evidenced by their execution of the Equity-Linked Securities. 

If temporary Equity-Linked Securities are issued, the Company will cause Definitive Equity-Linked Securities to be prepared without
unreasonable delay. After the preparation of Definitive Equity-Linked Securities, the temporary Equity-Linked Securities shall be exchangeable for Definitive Equity-Linked Securities upon surrender of the temporary Equity-Linked Securities at the
Corporate Trust Office, at the expense of the Company and without charge to the Holder or the Purchase Contract Agent. Upon surrender for cancellation of any one or more temporary Equity-Linked Securities, the Company shall execute and deliver to
the Purchase Contract Agent and Trustee, and the Purchase Contract Agent and, if applicable, the Trustee shall authenticate on behalf of the Holder, and deliver in exchange therefor, one or more Definitive Equity-Linked Securities of like tenor and
denominations and evidencing a like number of Units or Separate Purchase Contracts, as the case may be, as the temporary Equity-Linked Security or Equity-Linked Securities so surrendered. Until so exchanged, the temporary Equity-Linked Securities
shall in all respects evidence the same benefits and the same obligations with respect to the Units or Separate Purchase Contracts, as the case may be, evidenced thereby as Definitive Equity-Linked Securities. 

  
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 Section 3.05. Registration; Registration of Transfer and Exchange. The
Company shall cause to be kept at the Corporate Trust Office a register (the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Equity-Linked
Securities and of transfers of Equity-Linked Securities. The Purchase Contract Agent is hereby initially appointed Security Registrar (the “Security Registrar”) for the purpose of registration of Equity-Linked Securities and
transfers of Equity-Linked Securities as provided herein. The Security Registrar shall record separately the registration and transfer of the Equity-Linked Securities evidencing Units and Separate Purchase Contracts. 

Upon surrender for registration of transfer of any Equity-Linked Security at the Corporate Trust Office, the Company shall execute and
deliver to the Purchase Contract Agent and Trustee, and the Purchase Contract Agent and Trustee shall authenticate on behalf of the designated transferee or transferees, and deliver, in the name of the designated transferee or transferees, one or
more new Equity-Linked Securities of any authorized denominations, of like tenor, and evidencing a like number of Units or Separate Purchase Contracts, as the case may be. 
 At the option of the Holder, Equity-Linked Securities may be exchanged for other Equity-Linked Securities, of any authorized numbers and evidencing a like number of Units or Separate Purchase Contracts,
as the case may be, upon surrender of the Equity-Linked Securities to be exchanged at the Corporate Trust Office. Whenever any Equity-Linked Securities are so surrendered for exchange, the Company shall execute and deliver to the Purchase Contract
Agent and Trustee, and the Purchase Contract Agent and, in the case of Units, the Trustee shall authenticate on behalf of the Holder, and deliver the Equity-Linked Securities which the Holder making the exchange is entitled to receive. 

All Equity-Linked Securities issued upon any registration of transfer or exchange of an Equity-Linked Security shall evidence the
ownership of the same number of Units or Separate Purchase Contracts, as the case may be, and be entitled to the same benefits and subject to the same obligations, under this Agreement as the Units or Separate Purchase Contracts, as the case may be,
evidenced by the Equity-Linked Security surrendered upon such registration of transfer or exchange. 
 Every Equity-Linked
Security 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 an Equity-Linked Security, but the Company or the Purchase Contract Agent on behalf of the Company 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 Equity-Linked Securities, other than any exchanges pursuant to Section 3.06 and Section 9.05 not involving any transfer. 

  
 21 

 Notwithstanding the foregoing, the Company shall not be obligated to execute and deliver to
the Purchase Contract Agent, and the Purchase Contract Agent and, in the case of Units, the Trustee shall not be obligated to authenticate on behalf of the Holder or deliver any Equity-Linked Security in exchange for any other Equity-Linked Security
presented or surrendered for registration of transfer or for exchange on or after the third Business Day immediately preceding the Scheduled Mandatory Settlement Date or any earlier Settlement Date with respect to such Equity-Linked Security. In
lieu of delivery of a new Equity-Linked Security, 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 or
Company, as the case may be, shall, if a Settlement Date with respect to such Equity-Linked Security has occurred, deliver or cause to be delivered the shares of Class A Common Stock deliverable (and/or, in the case of a Merger Redemption
Settlement Date, make the required cash payment, if any) in respect of the Purchase Contracts evidenced by such Equity-Linked Security (together with the Separate Note, if such Equity-Linked Security is a Unit and if the Repurchase Right is not
applicable or, if applicable, not exercised). 
 Section 3.06. Book-Entry Interests. The Units, on original
issuance, will be issued in the form of one or more fully registered Global Units, 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 Units
shall initially be registered on the books and records of the Company in the name of Cede & Co., the nominee of DTC, and no Beneficial Holder will receive a Definitive Unit representing such Beneficial Holder’s interest in such Global
Unit, except as provided in Section 3.09. Unless and until definitive, fully registered Securities have been issued to Beneficial Holders pursuant to Section 3.09: 

(i) the provisions of this Section 3.06 shall be in full force and effect; 

(ii) the Company shall treat the Depositary for all purposes of this Agreement (including settling the Purchase Contracts
and receiving approvals, votes or consents hereunder) as the Holder of the Global Units and Global Purchase Contracts and shall have no obligation to the Beneficial Holders; 

(iii) 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 
 (iv) the rights of the Beneficial Holders shall
be exercised only through the Depositary and shall be limited to those established by law and agreements between such Beneficial Holders and the Depositary or the Depositary Participants. 

Section 3.07. Notices to Holders. 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 or Purchase Contracts 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 Holders. 

  
 22 

 Section 3.08. Appointment of Successor Depositary. If the Depositary
elects to discontinue its services as securities depositary with respect to the Units or Purchase Contracts, the Company may, in its sole discretion, appoint a successor Depositary with respect to such Units or such Purchase Contracts, as the case
may be. 
 Section 3.09. Definitive Securities. If: 

(i) the Depositary is unwilling or unable to continue as depositary for the Global Securities and the Company is unable
to find a qualified replacement for such Depository within 90 days; 
 (ii) at any time the Depositary ceases to
be a Clearing Agency registered under the Exchange Act; or 
 (iii) an Event of Default (as defined in the
Indenture), or any failure on the part of the Company to observe or perform any covenant or agreement in the Purchase Contracts or the Purchase Contract Agreement, has occurred and is continuing and a Beneficial Holder requests that its Securities
be issued in physical, certificated form, 
 then, in each case the Company shall execute, and the Purchase Contract Agent and/or the Trustee,
as applicable, upon receipt of an Issuer Order for the authentication and delivery of Definitive Securities, shall authenticate and deliver Definitive Securities representing an aggregate number of Securities with respect to the Global Security or
Securities representing such Securities (or representing an aggregate number of Securities equal to the aggregate number of Securities in respect of which such Beneficial Holder has requested the issuance of Definitive Securities pursuant to clause
(iii) above) in exchange for such Global Security or Securities (or portion thereof). Each Definitive Security so delivered shall evidence Units or Purchase Contracts or Notes, as the case may be, of the same kind and tenor as the Global
Security so surrendered in respect thereof. Notwithstanding the foregoing, the exchange of Global Notes for Notes in definitive form shall be governed by the Indenture. 
 Section 3.10. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Equity-Linked Security is surrendered to the Purchase Contract Agent, the Company shall execute and
deliver to the Purchase Contract Agent and Trustee, and the Purchase Contract Agent and, if applicable, the Trustee shall authenticate on behalf of the Holder, and deliver in exchange therefor, a new Equity-Linked Security, evidencing the same
number of Units or Separate Purchase Contracts, as the case may be, and bearing a security number not contemporaneously outstanding. 
 If there shall be delivered to the Company, the Purchase Contract Agent and the Trustee (in the case of any Units) (i) evidence to their satisfaction of the destruction, loss or theft of any
Equity-Linked Security, and (ii) such indemnity reasonably satisfactory to them to hold each of them and any agent of any of them harmless, then, in the absence of notice to the Company, the Purchase Contract Agent or the Trustee that such
Equity-Linked Security has been acquired by a protected purchaser, the Company shall execute and deliver to the Purchase Contract Agent and the Trustee (in the case of any Units), and the Purchase Contract Agent and the Trustee (in the case of any
Units) shall authenticate on behalf of the Holder, and deliver to the Holder, in lieu of any such destroyed, lost or stolen Equity-Linked Security, a new Equity-Linked Security, evidencing the same number of Units or Separate Purchase Contracts, as
the case may be, and bearing a security 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 Trustee, and the Purchase Contract Agent and, in the case of Units, the Trustee shall not be obligated to authenticate on behalf of the Holder, and deliver to the Holder, an Equity-Linked Security pursuant to this
Section 3.10 on or after the third Business Day immediately preceding the Scheduled Mandatory Settlement Date or any earlier Settlement Date with respect to such Equity-Linked Security. In lieu of delivery of a new Equity-Linked Security, upon
satisfaction of the applicable conditions specified above in this Section and receipt of appropriate registration or transfer instructions from such Holder (if applicable), the Purchase Contract Agent or Company, as the case may be, shall, upon the
applicable Settlement Date, deliver or arrange for delivery of the shares of Class A Common Stock issuable (and/or, in the case of a Merger Redemption Settlement Date, make the required cash payment, if any) in respect of the Purchase Contracts
evidenced by such Equity-Linked Security (together with Separate Notes equal to the number of, and in the same form as, the Notes evidenced by such Equity-Linked Security if such Equity-Linked Security is a Unit and if the Repurchase Right is not
applicable or, if applicable, not exercised). 
 Upon the issuance of any new Equity-Linked Security 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 expenses (including the fees
and expenses of the Purchase Contract Agent) connected therewith. 
 Every new Equity-Linked Security issued pursuant to this
Section 3.10 in lieu of any destroyed, lost or stolen Equity-Linked Security shall constitute an original additional contractual obligation of the Company and of the Holder in respect of the Unit or Separate Purchase Contract, as the case may
be, evidenced thereby, whether or not the destroyed, lost or stolen Equity-Linked Security shall be found at any time. Such new Equity-Linked Security (and the Units or Separate Purchase Contracts, as applicable, 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 Equity-Linked Securities 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 Equity-Linked Securities. 

Section 3.11. Persons Deemed Owners. Prior to due presentment of an Equity-Linked Security for registration of
transfer, the Company, the Purchase Contract Agent and the Trustee, and any agent of the Company, the Purchase Contract Agent or the Trustee, may treat the Person in whose name such Equity-Linked Security is registered as the owner of the Unit or
Purchase Contract, as the case may be, evidenced thereby, for the purpose of performance of the Units or Purchase Contracts, as applicable, evidenced by such Equity-Linked Securities and for all other purposes whatsoever, and neither the Company,
the Purchase Contract Agent nor the Trustee, nor any agent of the Company, the Purchase Contract Agent or the Trustee, shall be affected by notice to the contrary. 

  
 24 

 None of the Purchase Contract Agent, Trustee, the Paying Agent and the Security Registrar
shall have any responsibility or obligation to any Beneficial Holder in a Global Security, an agent member 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 Securities or with respect to the delivery to any agent member, Beneficial Holder or other Person (other than the Depositary) of any notice or the payment of any amount, under or with respect to such Securities. All notices
and communications to be given to the Holders and all payments to be made to Holders under the Securities 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 Security). The rights of Beneficial Holders in Global Securities shall be exercised only through the Depositary subject to the applicable procedures. The Purchase Contract Agent, the Trustee, the Paying Agent and the 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 Holders. The Purchase Contract Agent, the Trustee, the Paying Agent and the
Security Registrar shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered Holder of any Global Security for all purposes of this Agreement relating to such Global Security (including the payment or delivery of
amounts due hereunder and the giving of instructions or directions by or to any Beneficial Holder) as the sole Holder of such Global Security and shall have no obligations to the Beneficial Holders thereof. None of the Purchase Contract Agent, the
Trustee, the Paying Agent and the Security Registrar shall have any responsibility or liability for any acts or omissions of the Depositary with respect to such Global Security, for the records of any such Depositary, including records in respect of
the Beneficial Holders of any such Global Security, 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 Holder of such Global Security, or for any
transfers of beneficial interests in any such Global Security. 
 Notwithstanding the foregoing, with respect to any Global
Security, nothing herein shall prevent the Company, the Purchase Contract Agent, the Trustee, or any agent of the Company, the Purchase Contract Agent or the Trustee from giving effect to any written certification, proxy or other authorization
furnished by any depositary (or its nominee), as a Holder, with respect to such Global Security or shall impair, as between such Depositary and Beneficial Holders of such Global Security, the operation of customary practices governing the exercise
of the rights of such depositary (or its nominee) as Holder of such Global Security. 
 None of the Purchase Contract Agent, the
Trustee, the Paying Agent or the Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Agreement or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among participants of DTC, members or Beneficial Holders in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly
required by, and to do so if and when expressly required by, the terms of this Agreement, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

  
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 Section 3.12. Cancellation. All Securities surrendered for separation or
recreation and all Equity-Linked Securities surrendered for settlement or redemption or upon the registration of transfer or exchange of an Equity-Linked Security shall, if surrendered to any Person other than the Purchase Contract Agent, be
delivered to the Purchase Contract Agent and, if not already cancelled, be promptly cancelled by it; provided, however, that the Purchase Contract Agent shall deliver any Notes or Separate Notes so surrendered to it to the Trustee and
Paying Agent (as defined in the Indenture) for disposition in accordance with the provisions of the Indenture. In the case of a Unit or Units surrendered for settlement or redemption, subject to Section 4.08 hereof, the Company shall promptly
execute and the Trustee shall promptly authenticate and deliver in accordance with the terms of the Indenture to the Holder thereof a number of Separate Notes equal to the number of, and in the same form as, the Notes comprising part of the Units so
surrendered. The Company may at any time deliver to the Purchase Contract Agent for cancellation any Equity-Linked Securities previously executed, authenticated and delivered hereunder that the Company may have acquired in any manner whatsoever, and
all Equity-Linked Securities so delivered shall, upon an Issuer Order, be promptly cancelled by the Purchase Contract Agent; provided, however, that if the Equity-Linked Securities so delivered are Units, the Purchase Contract Agent
shall deliver the Notes comprising such Units to the Trustee and Paying Agent (as defined in the Indenture) for disposition in accordance with the provisions of the Indenture. No Equity-Linked Securities shall be executed, authenticated on behalf of
the Holder and delivered in lieu of or in exchange for any Equity-Linked Securities cancelled as provided in this Section, except as expressly permitted by this Agreement. All cancelled Equity-Linked Securities 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 Equity-Linked Security, such acquisition shall not operate as a cancellation of such Equity-Linked Security unless and until such Equity-Linked Security is delivered to the Purchase Contract Agent for cancellation, in which case such
Equity-Linked Security shall be accompanied by an Issuer Order and cancelled in accordance with the immediately preceding paragraph. 
 ARTICLE 4 
 SETTLEMENT OF
THE PURCHASE CONTRACTS 
 Section 4.01. Settlement Rate.
(a) Each Purchase Contract obligates the Company to deliver, on the Mandatory Settlement Date, a number of shares of Class A Common Stock (subject to Article 5) equal to the Settlement Rate as determined by the Company, unless such
Purchase Contract has settled or been redeemed prior to the Mandatory Settlement Date. 
 (b) The “Settlement
Rate” is equal to: 
 (i) if the Applicable Market Value is equal to or greater than the Threshold
Appreciation Price, 1.2355 shares of Class A Common Stock for each Purchase Contract (the “Minimum Settlement Rate”); 
 (ii) if the Applicable Market Value is greater than the Reference Price but less than the Threshold Appreciation Price, a number of shares of Class A Common Stock for each Purchase Contract equal to
the Stated Amount, divided by the Applicable Market Value; and 

  
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 (iii) if the Applicable Market Value is less than or equal to the Reference
Price, 1.5444 shares of Class A Common Stock for each Purchase Contract (the “Maximum Settlement Rate”). 

(c) The Maximum Settlement Rate, the Minimum Settlement Rate (each, a “Fixed Settlement Rate”) and the Reference Price
shall be subject to adjustment as provided in Article 5 and rounded upward or downward to the nearest 1/10,000th of a share (or if there is not a nearest 1/10,000th of a share, to the next lower 1/10,000th of a share) or nearest $0.0001, as the case
may be. 
 (d) The Company shall give notice of the Settlement Rate to the Purchase Contract Agent and Holders no later than two
Scheduled Trading Days prior to the Mandatory Settlement Date. 
 Section 4.02. Representations and Agreements of
Holders. Each Holder of an Equity-Linked Security, by its acceptance thereof: 
 (i) irrevocably authorizes
and directs the Purchase Contract Agent to execute and deliver on its behalf and perform this Agreement on its behalf and appoints the Purchase Contract Agent as its attorney-in-fact for any and all such purposes; 

(ii) in the case of a Purchase Contract that is a component of a Unit, or that is evidenced by a Global Purchase
Contract, irrevocably authorizes and directs the Purchase Contract Agent to execute, deliver and hold on its behalf the Global Purchase Contract or the Component Purchase Contract evidencing such Purchase Contract and appoints the Purchase Contract
Agent its attorney-in-fact for any and all such purposes; 
 (iii) consents to the provisions hereof;

 (iv) represents that either (i) no portion of the assets used to acquire and hold the Units or Separate
Purchase Contracts, as the case may be, constitutes assets of any (A) employee benefit plan that is subject to Title I of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (B) plan, individual
retirement account or other arrangement that is subject to Section 4975 of the Code or provisions under any federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of the Code or ERISA (collectively,
“Similar Laws”) or (C) entity whose underlying assets are considered to include “plan assets” of such plan, account or arrangement or (ii) the purchase and holding of the Units or Separate Purchase Contracts, as
the case may be, will not constitute a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a violation of any applicable Similar Laws; 

(v) agrees with the tax treatment provided for in Section 11.07; and 

(vi) agrees to be bound by the terms and provisions hereof. 

  
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 Section 4.03. Purchase Contract Settlement Fund. On the applicable
Settlement Date, the Company shall deliver to the applicable Holders (or their designees) or the Purchase Contract Agent, for the benefit of the Holders of the Outstanding Purchase Contracts (or, in the case of an Early Settlement, for the benefit
of the Holders of Purchase Contracts that have elected such Early Settlement), as the case may be, the aggregate amount of cash and/or number of shares of Class A Common Stock to which such Holders of the Purchase Contracts to be settled or
redeemed on such Settlement Date are entitled hereunder, registered, in the case of any shares, in the name of the applicable Holders or their designees (such cash and/or shares of Class A Common Stock, together with any dividends or
distributions with respect to such shares for which a record date and payment date for such dividend or distribution have occurred on or after the applicable Determination Date, the “Purchase Contract Settlement Fund”). When any
cash is required to be delivered to Holders pursuant to this Article 4, the Purchase Contract Agent shall deliver such cash, including any dividends or distributions with respect to the shares constituting part of the Purchase Contract Settlement
Fund (but without interest thereon) to such Holders, in accordance with the written direction of the Company. When any shares of Class A Common Stock are required to be delivered to Holders pursuant to this Article 4, the Company shall deliver
such shares to such Holders (or their designees), registered in the name of the applicable Holders (or such designees). 

Section 4.04. Settlement Conditions. A Holder’s right to receive the shares of Class A Common Stock, and any
dividends or distributions with respect to such shares constituting part of the Purchase Contract Settlement Fund, upon settlement of any of its Purchase Contracts (other than pursuant to Section 4.08) is subject to the following conditions:

 (a) if such Purchase Contract or the Unit that includes such Purchase Contract is in the form of a Definitive Security,
surrendering the relevant Definitive Security to the Purchase Contract Agent at the Corporate Trust Office duly endorsed for transfer to the Company or in blank and with duly completed settlement instructions in the form attached thereto, or if such
Purchase Contract is represented by a Global Security, surrendering the relevant Security (or causing a reduction in the number of Purchase Contracts represented thereby, if applicable) in compliance with the standing arrangements between the
Depositary and the Purchase Contract Agent; and 
 (b) the payment of any transfer or similar taxes payable pursuant to
Section 4.11. 
 Section 4.05. Mandatory Settlement on the Mandatory Settlement Date. On the Mandatory
Settlement Date, subject to satisfaction of the conditions set forth in Section 4.04 by a Holder with respect to any of its Purchase Contracts, the Company shall cause a number of shares of Class A Common Stock per Purchase Contract equal
to the Settlement Rate to be issued and delivered, together with payment of (i) any cash payable in lieu of fractional shares pursuant to Section 4.13 and (ii) any dividends or distributions with respect to such shares constituting
part of the Purchase Contract Settlement Fund (but without any interest thereon), to such Holder by book-entry transfer or other appropriate procedures pursuant to Section 4.11. The Person in whose name any shares of Class A Common Stock
shall be issuable upon settlement of any Purchase Contract on the Mandatory Settlement Date shall become the holder of record of such shares as of the close of business on the last Trading Day of the 20 consecutive Trading Day period during which
the Applicable Market Value is determined. 

  
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 Section 4.06. Early Settlement. (a) Subject to and upon compliance
with the provisions of this Section 4.06, on any Trading Day prior to the close of business on the third Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date, the Holder of a Unit or Separate Purchase Contract may
elect to settle its Purchase Contracts early, in whole or in part, and receive a number of shares of Class A Common Stock per Purchase Contract at the Early Settlement Rate (“Early Settlement Right”). 

(b) A Holder’s right to receive Class A Common Stock upon Early Settlement of any of its Purchase Contracts is subject to the
following conditions: 
 (i) delivery of a written and signed notice of election (an “Early Settlement
Notice”) in the form attached to the Purchase Contract to the Purchase Contract Agent electing Early Settlement of such Purchase Contract (or, in the case of a Global Purchase Contract or Component Purchase Contract, delivery of notice of
such election in accordance with applicable procedures of the Depositary) ; and 
 (ii) satisfaction of the
conditions set forth in Section 4.04. 
 (c) If a Holder complies with the requirements set forth in Section 4.06(b)
before the close of business on any Business Day, then that Business Day shall be considered the “Early Settlement Date.” If a Holder complies with the requirements set forth in Section 4.06(b) at or after the close of business
on any Business Day or at any time on a day that is not a Business Day, then the next succeeding Business Day shall be considered the “Early Settlement Date.” 
 (d) Subject to satisfaction of the conditions set forth in Section 4.06(b) by a Holder with respect to any of its Purchase Contracts, the Company shall cause a number of shares of Class A Common
Stock per Purchase Contract equal to the Early Settlement Rate to be issued and delivered, together with payment of (i) any cash payable in lieu of fractional shares pursuant to Section 4.13 and (ii) any dividends or distributions
with respect to such shares constituting part of the Purchase Contract Settlement Fund (but without any interest thereon), to such Holder by book-entry transfer or other appropriate procedures pursuant to Section 4.11 on the third Business Day
following the Early Settlement Date. The Person in whose name any shares of the Class A Common Stock shall be issuable upon such Early Settlement of a Purchase Contract shall become the holder of record of such shares as of the close of
business on the relevant Early Settlement Date. 
 (e) In the event that Early Settlement is effected with respect to Purchase
Contracts that are a component of Units, upon such Early Settlement, the Company shall execute and the Trustee shall authenticate (pursuant to the Indenture) on behalf of the Holder and deliver to the Holder thereof, at the expense of the Company,
Separate Notes, in same form as the Notes comprising part of the Units, equal to the number of Purchase Contracts as to which Early Settlement was effected. 
 (f) In the event that Early Settlement is effected with respect to Purchase Contracts represented by less than all the Purchase Contracts evidenced by a Security, upon such Early Settlement, the Company
shall execute and the Purchase Contract Agent and Trustee shall authenticate on behalf of the Holder and deliver to the Holder thereof, at the expense of the Company, a Security evidencing the Purchase Contracts as to which Early Settlement was not
effected. 

  
 29 

 (g) Upon receipt of any Early Settlement Notice pursuant to Section 4.06(b), the
Purchase Contract Agent shall promptly deliver a copy of such Early Settlement Notice to the Company. 

Section 4.07. Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs and a Holder
exercises the option to effect Early Settlement in respect of its Purchase Contracts in connection with such Fundamental Change in accordance with the procedures set forth in Section 4.06, such Holder shall receive a number of shares of
Class A Common Stock (and any cash payable in lieu of fractional shares pursuant to Section 4.13) (or, if a Reorganization Event has occurred, a number of Units of Exchange Property) for each such Purchase Contract equal to the Fundamental
Change Early Settlement Rate in effect on the date such Fundamental Change Early Settlement Right is exercised (the right to effect such an Early Settlement, the “Fundamental Change Early Settlement Right”). An Early Settlement
shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise satisfies the requirements for effecting Early Settlement
of its Purchase Contracts set forth in Section 4.06 hereof, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending at the close of business on the 30th Business Day thereafter (or, if earlier, the
third Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date) (the “Fundamental Change Early Settlement Period”). 
 (b) If a Holder complies with the requirements set forth in Section 4.07(a) to exercise the Fundamental Change Early Settlement Right prior to the close of business on any Business Day during the
Fundamental Change Early Settlement Period, then that Business Day shall be considered the “Fundamental Change Early Settlement Date.” If a Holder complies with the requirements set forth in set forth in Section 4.07(a) to
exercise the Fundamental Change Early Settlement Right at or after the close of business on any Business Day during the Fundamental Change Early Settlement Period or at any time on a day during the Fundamental Change Early Settlement Period that is
not a Business Day, then the next succeeding Business Day shall be considered the “Fundamental Change Early Settlement Date.” 
 (c) The Company shall provide the Purchase Contract Agent, the Trustee and the Holders of Units and Separate Purchase Contracts with a notice of a Fundamental Change within five Business Days after its
occurrence, issue a press release announcing the Effective Date and post such press release on its website. The notice shall set forth (i) the events causing such Fundamental Change, (ii) the Effective Date of the Fundamental Change,
(iii) the procedures that a Holder must follow to exercise the Fundamental Change Early Settlement Right, (iv) if any outstanding Securities are Definitive Securities, the name and address of the Purchase Contract Agent, (v) the
applicable Fundamental Change Early Settlement Rate, (vi) if not solely Class A Common Stock, the kind and amount of cash, securities and other property receivable by the Holder upon settlement and (vii) the deadline by which each
Holder’s Fundamental Change Early Settlement Right must be exercised. 

  
 30 

 (d) The “Fundamental Change Early Settlement Rate” shall be determined by
the Company 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 (the “Stock Price”) in the Fundamental Change,
which shall be: 
 (i) in the case of a Fundamental Change described in clause (b) of the definition thereof
in which holders of shares of Class A Common Stock receive only cash in the Fundamental Change, the cash amount paid per share of Class A Common Stock; and 

(ii) in all other cases, the average of the Daily VWAPs of the Class A Common Stock over the 10 consecutive Trading
Day period ending on, and including, the Trading Day immediately preceding the Effective Date. 
 (e) The Stock Prices set forth
in the first column of the table below shall be adjusted as of any date on which any Fixed Settlement Rate is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied
by a fraction, the numerator of which is the Maximum Settlement Rate immediately prior to the adjustment giving rise to the Stock Price adjustment and the denominator of which is the Maximum Settlement Rate as so adjusted. The Fundamental Change
Early Settlement Rates per Purchase Contract in the table in Section 4.07(f) shall be adjusted at the same time and in the same manner as the Fixed Settlement Rates as set forth in Section 5.01. 

(f) The Fundamental Change Early Settlement Rate per Purchase Contract for each Stock Price and Effective Date is set forth below:

  
 31 

																	
	 	  	Effective Date	 
	 Stock Price
	  	September
19, 2012	 	  	October
1, 2013	 	  	October
1, 2014	 	  	October
1, 2015	 
	 $35.00
	  	 	1.4713	  	  	 	1.5041	  	  	 	1.5336	  	  	 	1.5444	  
	 $40.00
	  	 	1.4453	  	  	 	1.4824	  	  	 	1.5234	  	  	 	1.5444	  
	 $45.00
	  	 	1.4184	  	  	 	1.4566	  	  	 	1.5059	  	  	 	1.5444	  
	 $50.00
	  	 	1.3922	  	  	 	1.4287	  	  	 	1.4811	  	  	 	1.5444	  
	 $55.00
	  	 	1.3676	  	  	 	1.4006	  	  	 	1.4508	  	  	 	1.5444	  
	 $60.00
	  	 	1.3453	  	  	 	1.3738	  	  	 	1.4177	  	  	 	1.5444	  
	 $64.75
	  	 	1.3265	  	  	 	1.3505	  	  	 	1.3862	  	  	 	1.5444	  
	 $70.00
	  	 	1.3085	  	  	 	1.3276	  	  	 	1.3537	  	  	 	1.4286	  
	 $75.00
	  	 	1.2939	  	  	 	1.3089	  	  	 	1.3265	  	  	 	1.3333	  
	 $80.94
	  	 	1.2795	  	  	 	1.2905	  	  	 	1.2999	  	  	 	1.2355	  
	 $85.00
	  	 	1.2713	  	  	 	1.2801	  	  	 	1.2853	  	  	 	1.2355	  
	 $90.00
	  	 	1.2627	  	  	 	1.2694	  	  	 	1.2709	  	  	 	1.2355	  
	 $95.00
	  	 	1.2557	  	  	 	1.2607	  	  	 	1.2600	  	  	 	1.2355	  
	 $100.00
	  	 	1.2499	  	  	 	1.2538	  	  	 	1.2519	  	  	 	1.2355	  
	 $105.00
	  	 	1.2451	  	  	 	1.2483	  	  	 	1.2460	  	  	 	1.2355	  
	 $110.00
	  	 	1.2413	  	  	 	1.2440	  	  	 	1.2417	  	  	 	1.2355	  
	 $115.00
	  	 	1.2382	  	  	 	1.2405	  	  	 	1.2388	  	  	 	1.2355	  

 The exact Stock Price and Effective Date may not be set forth in the table above, in which case:

 (i) if the applicable Stock Price is between two Stock Prices in the table or the applicable Effective Date
is between two Effective Dates in the table, the Fundamental Change Early Settlement Rate shall be determined by a straight-line interpolation between the Fundamental Change Early Settlement Rates set forth for the higher and lower Stock Prices and
the earlier and later Effective Dates, as applicable, based on a 365-day year; 
 (ii) if the applicable Stock
Price is greater than $115.00 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above), the Fundamental Change Early Settlement Rate shall be the Minimum Settlement Rate; or

 (iii) if the applicable Stock Price is less than $35.00 per share (subject to adjustment in the same manner
as the Stock Prices set forth in the column headings of the table above) (the “Minimum Stock Price”), the Fundamental Change Early Settlement Rate shall be determined as if the Stock Price equaled the Minimum Stock Price, and using
straight-line interpolation, as described in clause (i) of this Section 4.07(f), if the Effective Date is between two Effective Dates in the table. 

  
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 The maximum number of shares of Class A Common Stock deliverable under a Purchase Contract is 1.5444,
subject to adjustment at the same time and in the same manner as the Fixed Settlement Rates as set forth under Section 5.01. 
 (g) If a Holder exercises its Fundamental Change Early Settlement Right following a Reorganization Event, the Company shall deliver to such Holder or (to the extent the Exchange Property consists of cash)
the Purchase Contract Agent on behalf of such Holder, a number of Units of Exchange Property equal to the number of shares of the Class A Common Stock the Company would otherwise be required to deliver, pursuant to Section 5.02.

 (h) Subject to satisfaction of the conditions set forth in Section 4.06(b) by a Holder with respect to any of its
Purchase Contracts, the Company shall cause to be delivered a number of shares of Class A Common Stock (and any cash in lieu of fractional shares pursuant to Section 4.13) (or, if a Reorganization Event has occurred, a number of Units of
Exchange Property) equal to the applicable Fundamental Change Early Settlement Rate as a result of such Holder’s exercise of the Fundamental Change Early Settlement Right in accordance with the provisions set forth in Section 4.06(d),
except that (i) such delivery shall be made on the third Business Day following the Fundamental Change Early Settlement Date, and (ii) the Person in whose name any shares of Class A Common Stock or other securities, if applicable,
shall be issuable following exercise of a Holder’s Fundamental Change Early Settlement Right shall become the holder of record of such shares or other securities, if applicable, as of the close of business on the Fundamental Change Early
Settlement Date. 
 (i) If a Holder exercises its Fundamental Change Early Settlement Right with respect to Purchase Contracts
that are a component of Units, upon such Early Settlement in connection with a Fundamental Change, the Company shall execute and the Trustee shall authenticate (pursuant to the Indenture) on behalf of the Holder and deliver to the Holder thereof, at
the expense of the Company, Separate Notes, in same form as the Notes comprising part of the Units, equal to the number of Purchase Contracts as to which Early Settlement in connection with a Fundamental Change was effected. 

(j) If a Holder exercises its Fundamental Change Early Settlement Right with respect to Purchase Contracts represented by less than all
the Purchase Contracts evidenced by a Security, upon such Early Settlement in connection with a Fundamental Change, the Company shall execute and the Purchase Contract Agent and Trustee shall authenticate on behalf of the Holder and deliver to the
Holder thereof, at the expense of the Company, a Security evidencing the Purchase Contracts as to which Early Settlement in connection with a Fundamental Change was not effected. 

(k) If a Holder does not elect to exercise the Fundamental Change Early Settlement Right, such Holder’s Purchase Contracts shall
remain outstanding and shall be subject to normal settlement or redemption on any subsequent Settlement Date, including, if applicable, the provisions set forth in Section 5.02. 

Section 4.08. Early Mandatory Settlement at the Company’s Election. (a) The Company has the right to settle
the Purchase Contracts on or after May 15, 2013, in whole but not in part (the “Early Mandatory Settlement Right”), on a date fixed by it (the “Early Mandatory Settlement Date”) at the Early Mandatory
Settlement Rate in effect on the Early Mandatory Settlement Notice Date. 

  
 33 

 (b) If the Company elects to exercise its Early Mandatory Settlement Right, the Company
shall provide the Purchase Contract Agent and the Holders of Units, Separate Purchase Contracts and Separate Notes with a notice of its election (the “Early Mandatory Settlement Notice”), issue a press release announcing its
election and post such press release on its website. The Early Mandatory Settlement Notice shall specify: 
 (i)
the Early Mandatory Settlement Rate; 
 (ii) the Early Mandatory Settlement Date, which shall be on or after
May 15, 2013 and at least 5 but not more than 30 Business Days following the date of the Early Mandatory Settlement Notice (the “Early Mandatory Settlement Notice Date”); 

(iii) that Holders of Units and Separate Notes will have the right to require the Company to repurchase their Notes that
are a component of the Units or their Separate Notes, as the case may be, pursuant to and in accordance with the Indenture; 
 (iv) the Repurchase Price and Repurchase Date; 
 (v) the last date
on which Holders may exercise their Repurchase Right; 
 (vi) the procedures that Holders must follow hereunder
and under the Indenture to require the Company to repurchase their Notes; 
 (vii) if any outstanding Securities
are Definitive Securities, the name and address of the Purchase Contract Agent; and 
 (viii) any other
information the Company determines to be appropriate. 
 (c) On the Early Mandatory Settlement Date, the Company shall cause a
number of shares of Class A Common Stock per Purchase Contract equal to the Early Mandatory Settlement Rate to be issued and delivered, together with payment of (i) any cash payable in lieu of fractional shares pursuant to
Section 4.13 and (ii) any dividends or distributions with respect to such shares constituting part of the Purchase Contract Settlement Fund (but without any interest thereon), to such Holder by book-entry transfer or other appropriate
procedures pursuant to Section 4.11. The Person in whose name any shares of the Class A Common Stock shall be issuable following exercise of the Early Mandatory Settlement Right shall become the holder of record of such shares as of the
close of business on the Early Mandatory Settlement Notice Date. 
 (d) In the event that the Early Mandatory Settlement Right
is exercised with respect to Purchase Contracts that are a component of Units, upon the relevant Early Mandatory Settlement Date, the Company shall execute and the Trustee shall authenticate (pursuant to the Indenture) on behalf of the Holder and
deliver to the Holder thereof, at the expense of the Company, Separate Notes in the same form and in the same number as the Notes comprising part of the Units; provided, however, that if the Repurchase Date occurs prior to the Early
Mandatory Settlement Date, any Holder exercising the Repurchase Right shall surrender the Units on the 

  
 34 

 
Repurchase Date and the Company shall execute, and the Purchase Contract Agent shall authenticate, Separate Purchase Contracts in the same form and in the same number as the Purchase Contracts
comprising part of the Units, such Separate Purchase Contracts to be settled on the Early Mandatory Settlement Date. 

Section 4.09. Merger Termination Redemption. (a) If the agreement and plan of merger relating to the
Company’s pending acquisition of RailAmerica, Inc. has terminated, the Company may elect to redeem all, but not less than all, of the Outstanding Purchase Contracts, on the terms described in this Section 4.09 (a “Merger
Termination Redemption”), by delivering notice within the five Business Days immediately following April 30, 2013 (such notice, the “Merger Redemption Notice”) in the manner specified in Section 4.09(b).

 (b) In the event of a Merger Termination Redemption, the Company shall provide the Purchase Contract Agent, the Trustee and
the Holders of Units, Separate Purchase Contracts and Separate Notes with the Merger Redemption Notice, issue a press release announcing its election and post such press release on its website. The Merger Redemption Notice shall specify: 

(i) the Merger Termination Stock Price and the Reference Price; 

(ii) the Scheduled Merger Redemption Settlement Date; 

(iii) if the Redemption Amount will be determined pursuant to Section 4.09(c)(i), the Redemption Amount; 

(iv) if the Redemption Amount will be determined pursuant to Section 4.09(c)(ii), the Merger Redemption Rate, and,
if applicable, the number of shares of Class A Common Stock that would otherwise be included in the applicable Redemption Amount that will be replaced with cash; 

(v) that Holders of Units and Separate Notes will have the right to require the Company to repurchase their Notes that
are a component of the Units or their Separate Notes, as the case may be, pursuant to and in accordance with the Indenture; 
 (vi) the Repurchase Price and Repurchase Date; 
 (vii) the last
date on which Holders may exercise their Repurchase Right; and 
 (viii) the procedures that Holders must follow
hereunder and under the Indenture to require the Company to repurchase their Notes; 
 (ix) if any outstanding
Securities are Definitive Securities, the name and address of the Purchase Contract Agent; and 
 (x) any other
information the Company determines to be appropriate 
 If the Company does not specify a number of shares of Class A Common Stock that
will be replaced with cash in the Merger Redemption Notice, the Company shall be deemed to have elected to settle the Redemption Amount solely in shares. 

  
 35 

 (c) In the event of a Merger Termination Redemption, the Company shall deliver the
applicable Redemption Amount on the Merger Redemption Settlement Date. The “Redemption Amount” shall mean: 
 (i) if the Merger Termination Stock Price is equal to or less than the Reference Price, an amount of cash per Purchase Contract equal to (x) the Stated Amount less (y) the applicable
Repurchase Price; or 
 (ii) if the Merger Termination Stock Price is greater than the Reference Price, a number
of shares of Class A Common Stock per Purchase Contract equal to the Merger Redemption Rate determined by reference to the table set forth in Section 4.09(e); provided that the Company may elect to pay cash in lieu of any or all of
such shares of Class A Common Stock in an amount equal to such number of shares multiplied by the Redemption Market Value; provided further that, if the Company so elects to pay cash, the Company shall specify in the Merger
Redemption Notice the number of shares of Class A Common Stock that will be replaced with cash. 
 The Company shall cause
any shares referred to in clause (ii) above to be issued and delivered, together with payment of (a) any cash payable in lieu of fractional shares pursuant to Section 4.13 and (b) any dividends or distributions with respect to
such shares constituting part of the Purchase Contract Settlement Fund (but without any interest thereon), to the applicable Holder by book-entry transfer or other appropriate procedures pursuant to Section 4.11. The Person in whose name any
shares of the Class A Common Stock shall be issuable pursuant to a Merger Termination Redemption shall become the holder of record of such shares as of the close of business: (x) on the date of the Merger Redemption Notice, if the Company
has elected (or is deemed to have elected) to settle the Redemption Amount solely in shares of Class A Common Stock, or (y) on the last Trading Day of the 20 consecutive Trading Day period used to determine the Redemption Market Value, if
the Merger Termination Stock Price is greater than the Reference Price and the Company elects to pay cash in lieu of any but not all shares of Class A Common Stock that would otherwise be included in the Redemption Amount. 

(d) The table below sets forth the “Merger Redemption Rate” per Purchase Contract for each Merger Termination Stock
Price. The Merger Termination Stock Prices set forth in the first column of the table below shall be adjusted as of any date on which the Fixed Settlement Rates are otherwise adjusted. The adjusted Merger Termination Stock Prices shall equal the
Merger Termination Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Maximum Settlement Rate immediately prior to the adjustment giving rise to the Merger Termination Stock
Price adjustment and the denominator of which is the Maximum Settlement Rate as so adjusted. The Merger Redemption Rates per Purchase Contract in the table in Section 4.09(e) shall be adjusted at the same time and in the same manner as the
Fixed Settlement Rates as set forth in Section 5.01. 

  
 36 

 (e) The Merger Redemption Rate per Purchase Contract for each Merger Termination Stock Price
is set forth below: 
  

			
	 Merger Termination Stock Price
	  	 Merger Redemption Rate

	 $64.75
	  	1.3621 (the “Maximum Redemption Rate”)
	 $70.00
	  	1.3176
	 $75.00
	  	1.3012
	 $80.94
	  	1.2850
	 $85.00
	  	1.2758
	 $90.00
	  	1.2663
	 $95.00
	  	1.2585
	 $100.00
	  	1.2522
	 $105.00
	  	1.2471
	 $110.00
	  	1.2430
	 $115.00
	  	1.2397 (the “Minimum Redemption Rate”)

 The exact Merger Termination Stock Prices may not be set forth in the table above, in which case:

 (i) if the applicable Merger Termination Stock Price is between two Merger Termination Stock Prices in the
table, the Merger Redemption Rate shall be determined by a straight-line interpolation between the Merger Redemption Rates set forth for the higher and lower Merger Termination Stock Prices; 

(ii) if the applicable Merger Termination Stock Price is greater than $115.00 per share (subject to adjustment at the same
time and in the same manner as the Merger Termination Stock Prices set forth in the table above), then the Merger Redemption Rate shall be the Minimum Redemption Rate; or 

(iii) if the applicable Merger Termination Stock Price is less than $64.75 per share (subject to adjustment at the same
time and in the same manner as the Merger Termination Stock Prices set forth in the table above), then the Merger Redemption Rate shall be the Maximum Redemption Rate. 
 (f) In the event of a Merger Termination Redemption with respect to Purchase Contracts that are a component of Units, upon the applicable Merger Redemption Settlement Date, the Company shall execute and
the Trustee shall authenticate (pursuant to the Indenture) on behalf of the Holder and deliver to the Holder thereof, at the expense of the Company, Separate Notes in the same form and in the same number as the Notes comprising part of the Units;
provided, however, that if the Repurchase Date occurs prior to the Merger Redemption Settlement Date, any Holder exercising the Repurchase Right shall surrender the Units on the Repurchase Date and the Company shall execute, and the
Purchase Contract Agent shall authenticate, Separate Purchase Contracts in the same form and in the same number as the Purchase Contracts comprising part of the Units, such Separate Purchase Contracts to be redeemed on the Merger Redemption
Settlement Date. 
 Section 4.10. Acceleration of Mandatory Settlement Date. If a Bankruptcy Event occurs at
any time on or before the last Trading Day of the 20 consecutive Trading Day period during 

  
 37 

 
which the Applicable Market Value is determined (the day on which such Bankruptcy Event occurs, the “Acceleration Date”), the Mandatory Settlement Date shall automatically be
accelerated to the Acceleration Date and Holders of Purchase Contracts shall be entitled to receive, upon settlement of the Purchase Contracts on such accelerated Mandatory Settlement Date, a number of shares of Class A Common Stock per
Purchase Contract equal to the Maximum Settlement Rate in effect immediately prior to the Acceleration Date (regardless of the Applicable Market Value of the Class A Common Stock at that time). The Company shall cause to be delivered the shares
of Class A Common Stock or Units of Exchange Property, as the case may be, as a result of any such acceleration of the Mandatory Settlement Date in accordance with the provisions set forth in Section 4.05, except that (i) such
delivery shall be made on the accelerated Mandatory Settlement Date, and (ii) the Person in whose name any shares of Class A Common Stock shall be issuable following such acceleration shall become the holder of record of such shares as of
the close of business on the Acceleration Date. 
 Section 4.11. Registration of Underlying Shares and Transfer
Taxes. The shares of Class A Common Stock underlying the Purchase Contracts shall be registered in the name of the Holder or the Holder’s designee as specified in the settlement instructions provided by the Holder to the Purchase
Contract Agent, and the Company will pay all documentary, stamp or similar issue or transfer taxes attributable to the delivery thereof, unless any such tax is payable in respect of any registration of such shares in a name of a Person other than
the Person in whose name the Security evidencing such Purchase Contract is registered, in which case the Company shall not be required to pay any such tax and no such registration shall be made unless the Person requesting such registration has paid
any such taxes required by reason of such registration in a name of a Person other than the Person in whose name the Security evidencing such Purchase Contract is registered or has established to the satisfaction of the Company that such tax either
has been paid or is not payable. 
 Section 4.12. Return of Purchase Contract Settlement Fund. In the event a
Holder fails to effect surrender or delivery of its Units or Purchase Contracts, if required hereunder, on or following the applicable Settlement Date in accordance with the provisions hereof, any cash constituting part of the Purchase Contract
Settlement Fund that is held by the Purchase Contract Agent, including any dividends or distributions with respect to such shares constituting part of the Purchase Contract Settlement Fund, 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 surrender of the
relevant Units or Separate Purchase Contracts for settlement or redemption in accordance with the provisions hereof or receipt by the Company and the Purchase Contract Agent from such Holder of satisfactory evidence that such Units or Separate
Purchase Contracts have been destroyed, lost or stolen, together with any indemnity that may be required by the Purchase Contract Agent and the Company; and 
 (ii) the passage of two years from the applicable Settlement Date, following which the Purchase Contract Agent shall pay to the Company such Holder’s share of such cash, including any and any
dividends or distributions with respect to the shares constituting part of the Purchase Contract Settlement Fund; provided, however, that prior to receiving any such payment, the Company shall mail to each such Holder notice that

  
 38 

 
such property remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such mailing, any unclaimed balance of such property then remaining
will be repaid to the Company. After payment to the Company, (A) Holders entitled to such property must look to the Company for payment as general creditors, unless applicable abandoned property law designates another Person, and (B) all
liability of the Purchase Contract Agent with respect to such property shall cease. 
 Section 4.13. No
Fractional Shares. No fractional shares or scrip certificates representing fractional shares of Class A Common Stock shall be issued or delivered to Holders upon settlement or redemption of the Purchase Contracts. In lieu of any fractional
shares of Class A Common Stock that would otherwise be issuable upon settlement or redemption of any Purchase Contracts, a Holder of a Purchase Contract shall be entitled to receive an amount in cash equal to the fraction of a share of
Class A Common Stock, calculated on an aggregate basis in respect of the Purchase Contracts being settled or redeemed, multiplied by the Daily VWAP of the Class A Common Stock on the Trading Day immediately preceding the Mandatory
Settlement Date, Early Settlement Date, Fundamental Change Early Settlement Date, Early Mandatory Settlement Date or Merger Redemption Settlement Date, as the case may be. The Company shall provide the Purchase Contract Agent with sufficient funds
to permit the Purchase Contract Agent to make all cash payments required by this Section 4.13 in a timely manner. 

ARTICLE 5 

ADJUSTMENTS 
 Section 5.01. Adjustments to the Fixed Settlement Rates. (a) Each Fixed Settlement Rate shall be subject to adjustment, without duplication, upon: 

(i) The issuance of Class A Common Stock as a dividend or distribution to all or substantially all of the holders of
Class A Common Stock, or a subdivision or combination of Class A Common Stock, in which event each Fixed Settlement Rate shall be adjusted based on the following formula: 

 

									
		 	SR1 =	  	SR0 x	  	OS1 ________	  	
	 	  	  	OS0	  	

 where, 
  

					
		 	SR0 =  	  	the Fixed 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 subdivision or combination, as the case may be;

  
 39 

					
		 	SR1 =  	  	the Fixed Settlement Rate in effect immediately after the close of business on such Record Date or immediately after the open of business on such effective date, as the case may
be;
			
		 	OS0 =	  	the number of shares of Class A Common Stock outstanding immediately prior to the close of business on such Record Date or immediately prior to the open of business on such
effective date, as the case may be (in either case, prior to giving effect to such event); and
			
		 	OS1 =	  	the number of shares of Class A Common Stock that would be outstanding immediately after, and solely as a result of, such dividend, distribution, subdivision or
combination.

 Any adjustment made pursuant to this clause (i) will become effective immediately
after the close of business on the Record Date for such dividend or distribution, or immediately after the open of business on the effective date for such share subdivision or share combination, as the case may be. If any dividend or distribution
described of the type described in this clause (i) is declared but not so paid or made, each Fixed Settlement Rate shall be immediately readjusted, effective as of the date the Board of Directors publicly announces its decision not to pay or
make such dividend or distribution, to such Fixed Settlement Rate that would then be in effect if such dividend or distribution had not been declared. For the purposes of this clause (i), the number of shares of Class A Common Stock outstanding
immediately prior to the close of business on the Record Date for such dividend or distribution or the open of business on the effective date for such share subdivision or share combination, as applicable, shall not include shares held in treasury
by the Company but shall include any shares issuable in respect of any scrip certificates issued in lieu of fractions of shares of Class A Common Stock. The Company shall not pay any dividend or make any distribution on shares of Class A
Common Stock held in treasury by the Company. 
 (ii) The issuance to all or substantially all holders of
Class A Common Stock of rights, options or warrants entitling such holders for a period expiring 45 calendar days or less from the date of issuance of such rights, options or warrants, to subscribe for or purchase shares of Class A Common
Stock at a price per share less than the average of the Daily VWAPs of the Class A Common Stock for the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the date of announcement for such distribution per share
of Class A Common Stock, in which event each Fixed Settlement Rate shall be adjusted based on the following formula: 
  

									
		 	SR1 =	  	SR0 x	  	(OS0 + X) _______	  	
	 	  	  	(OS0 + Y)	  	

 where, 
  

					
		 	SR0 =  	  	the Fixed Settlement Rate in effect immediately prior to the close of business on the Record Date for such issuance;

  
 40 

					
		 	SR1 =  	  	the Fixed Settlement Rate in effect immediately after the close of business on such Record Date;
			
		 	OS0 =	  	the number of shares of Class A Common Stock outstanding immediately prior to the close of business on such Record Date;
			
		 	X =	  	the total number of shares of Class A Common Stock issuable pursuant to such rights, options or warrants; and
			
		 	Y =	  	the total number of shares of Class A Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by the average of the Daily
VWAPs of the Class A Common Stock for the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the date of announcement for such distribution per share of Class A Common Stock.

 Any adjustment made pursuant to this clause (ii) 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 issuance. In the event that such rights, options or warrants described in this clause (ii) are not so issued,
each Fixed Settlement Rate shall be immediately readjusted, effective as of the date the Board of Directors publicly announces its decision not to issue such rights, options or warrants, to such Fixed Settlement Rate that would then be in effect if
such issuance had not been declared. To the extent that such rights, options or warrants are not exercised prior to their expiration or shares of Class A Common Stock are otherwise not delivered pursuant to such rights, options or warrants upon
the exercise of such rights, options or warrants, each Fixed Settlement Rate shall be immediately readjusted, effective as of the date of such expiration or the date of such exercise, as the case may be, to such Fixed Settlement Rate that would then
be in effect had the adjustment with respect to the issuance of such rights, options or warrants been made on the basis of the delivery of only the number of shares of Class A Common Stock actually delivered. 

In determining whether any rights, options or warrants entitle the holders of Class A Common Stock to subscribe for or purchase
shares of Class A Common Stock at less than such average of the Daily VWAPs of the Class A Common Stock for the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the date of announcement for such
distribution per share of Class A Common Stock, and in determining the aggregate price payable to exercise such rights, options or warrants, there shall be taken into account any consideration received by the Company for such rights, options or
warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 
 For the purposes of this clause (ii), the number of shares of Class A Common Stock at the time outstanding shall not include shares held in treasury by the Company but shall include any shares
issuable in respect of any scrip certificates issued in lieu of fractions of shares of Class A Common Stock. The Company shall not issue any such rights, options or warrants in respect of shares of Class A Common Stock held in treasury by
the Company. 

  
 41 

 (iii) The dividend or other distribution to all or substantially all holders of Class A
Common Stock of shares of Capital Stock (other than Class A Common Stock), evidences of the Company’s indebtedness, assets or rights, options or warrants to acquire Capital Stock, indebtedness or assets (excluding (1) any dividend,
distribution or issuance covered by Section 5.01(a)(i), Section 5.01(a)(ii) or Section 5.01(a)(iv), (2) any dividend or distribution in connection with a Spin-Off covered by the portion of this Section 5.01(a)(iii) relating
to Spin-Offs and (3) any securities, cash or other property that is distributed in, and will constitute Exchange Property as a result of, a Reorganization Event), in which event each Fixed Settlement Rate shall be adjusted based on the
following formula: 
  

									
	 SR1 =
	  	 	SR0 x	  	  	SP0
________	 	
	  	  	(SP0 — FMV)	 	

 where, 
  

	 	SR0       =	 the Fixed Settlement Rate in effect immediately prior to the close of business on the Record Date for such dividend or distribution;

  

	 	SR1       =	 the Fixed Settlement Rate in effect immediately after the close of business on such Record Date; 

 

	 	SP0       =	 the average of the Daily VWAPs of the Class A Common Stock for the 10 consecutive Trading Day period ending on the Trading Day immediately
preceding such Ex-Date for such dividend or distribution; and 

  

	 	FMV    =	the Fair Market Value on the Ex-Date for such dividend or distribution, of the shares of Capital Stock, evidences of indebtedness, assets or rights, options or warrants
so distributed, expressed as an amount per share of Class A Common Stock. 

If FMV (as defined above) is equal to or greater than SP0 (as defined above) or if the difference between SP0 and FMV is less than $1.00, in lieu of the foregoing adjustment,
provision shall be made for each Holder of a Unit or Separate Purchase Contract to receive, for each Unit or Separate Purchase Contract, at the same time and upon the same terms as holders of Class A Common Stock, the kind and amount of Capital
Stock, evidences of indebtedness, assets or rights, options or warrants that such Holder would have received if such Holder owned a number of shares of Class A Common Stock equal to the Maximum Settlement Rate in effect on the Record Date for
the dividend or distribution. 
 Any adjustment made pursuant to the portion of this clause (iii) above
shall become effective immediately after the close of business on the Record Date for such dividend or distribution. In the event that such dividend or distribution is not so paid or made, each Fixed Settlement Rate shall be readjusted, effective as
of the date the Board of Directors publicly announces its decision not to pay or make such dividend or distribution, to such Fixed Settlement Rate that would then be in effect if such dividend or distribution had not been declared. 

  
 42 

 If the transaction that gives rise to an adjustment pursuant to this
Section 5.01(a)(iii) is a Spin-Off, then each Fixed Settlement Rate shall instead be adjusted based on the following formula: 
  

									
	 SR1 =
	  	 	SR0 x	  	  	(FMV0 + 
MP0)
________	 	
	  	  	MP0	 	

 where, 
  

	 	SR0        =	 the Fixed Settlement Rate in effect immediately prior to the close of business on the last Trading Day of the 10 consecutive Trading Day period
commencing on, and including, the effective date for the Spin-Off; 

  

	 	SR1        =	 the Fixed Settlement Rate in effect immediately after the close of business on the last Trading Day of the 10 consecutive Trading Day period commencing
on, and including, the effective date for the Spin-Off; 

  

	 	FMV0    =	 the average of the Daily VWAPs of the Capital Stock or similar equity interests distributed to holders of Class A Common Stock applicable to one
share of Class A Common Stock for the 10 consecutive Trading Day period commencing on, and including, the effective date for the Spin-Off; and 

  

	 	MP0       =	 the average of the Daily VWAPs of the Class A Common Stock for the 10 consecutive Trading Day period commencing on, and including, the effective
date for the Spin-Off. 

 Any adjustment made pursuant to this portion of this clause
(iii) shall become effective immediately after the close of business on the last Trading Day of the 10 consecutive Trading Day period commencing on, and including, the effective date for the Spin-Off; provided that, if any date for
determining the number of shares of Class A Common Stock issuable to a Holder occurs during the 10 consecutive Trading Day period commencing on, and including, the effective date for the Spin-Off, references in the preceding paragraph to 10
consecutive Trading Days shall be deemed to be replaced with such lesser number of consecutive Trading Days as have elapsed between the beginning of the 10 consecutive Trading Day period and such date of determination for purposes of determining the
Fixed Settlement Rates. In the event that such distribution described in this clause (iii) is not so made, each Fixed Settlement Rate shall be readjusted, effective as of the date the Board of Directors publicly announces its decision not to
pay such distribution, to such Fixed Settlement Rate that would then be in effect if such distribution had not been declared. 

  
 43 

 For purposes of this Section 5.01(a)(iii) (and subject in all respect
to Section 5.01(b)), rights, options or warrants distributed by the Company to all holders of its Class A Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including Class A Common
Stock (either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be transferred with such shares of the
Class A Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of the Class A Common Stock, shall be deemed not to have been distributed for purposes of this Section 5.01(a)(iii)
(and no adjustment to the Fixed Settlement Rates under this Section 5.01(a)(iii) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an
appropriate adjustment (if any is required) to the Fixed Settlement Rates shall be made under this Section 5.01(a)(iii). If any such right, option or warrant, including any such existing rights, options or warrants distributed prior to the date
of this Agreement, are subject to events, upon the occurrence of which such rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each
such event shall be deemed to be the date of distribution and Record Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to terminate and expire on such date
without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the immediately preceding sentence)
with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Fixed Settlement Rates under this Section 5.01(a)(iii) was made, (1) in the case of any such rights, options or warrants
that shall all have been redeemed or purchased without exercise by any holders thereof, upon such final redemption or purchase (x) the Fixed Settlement Rates shall be readjusted as if such rights, options or warrants had not been issued and
(y) the Fixed Settlement Rates shall then again be readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase
price received by a holder or holders of Class A Common Stock with respect to such rights, options or warrants (assuming such holder had retained such rights, options or warrants), made to all holders of Class A Common Stock as of the date
of such redemption or purchase, and (2) in the case of such rights, options or warrants that shall have expired or been terminated without exercise by any holders thereof, the Fixed Settlement Rates shall be readjusted as if such rights,
options and warrants had not been issued. 
 For purposes of Section 5.01(a)(i), Section 5.01(a)(ii)
and this Section 5.01(a)(iii), any dividend or distribution to which this Section 5.01(a)(iii) is applicable that also includes one or both of: 

  
 44 

 (A) a dividend or distribution of shares of Class A Common Stock to
which Section 5.01(a)(i) is applicable (the “Clause I Distribution”); or 
 (B) a dividend
or distribution of rights, options or warrants to which Section 5.01(a)(ii) is applicable (the “Clause II Distribution”), 
 then (1) such dividend or distribution, other than the Clause I Distribution and the Clause II Distribution, shall be deemed to be a dividend or distribution to which this Section 5.01(a)(iii)
is applicable (the “Clause III Distribution”) and any Fixed Settlement Rate adjustment required by this Section 5.01(a)(iii) with respect to such Clause III Distribution shall then be made, and (2) the Clause I
Distribution and Clause II Distribution shall be deemed to immediately follow the Clause III Distribution and any Fixed Settlement Rate adjustment required by Section 5.01(a)(i) and Section 5.01(a)(ii) with respect thereto shall then be
made, except that, if determined by the Company (I) the “Record Date” of the Clause I Distribution and the Clause II Distribution shall be deemed to be the Record Date of the Clause III Distribution and (II) any shares of Class A
Common Stock included in the Clause I Distribution or Clause II Distribution shall be deemed not to be “outstanding immediately prior to close of business on such Record Date” within the meaning of Section 5.01(a)(i) or
“outstanding immediately prior to the close of business on such Record Date” within the meaning of Section 5.01(a)(ii). 
 (iv) The dividend or distribution to all or substantially all holders of Class A Common Stock of exclusively cash (excluding (1) any cash that is distributed in, and will constitute Exchange
Property as a result of, a Reorganization Event or (2) any dividend or distribution in connection with the liquidation, dissolution or winding up of the Company), in which event, each Fixed Settlement Rate shall be adjusted based on the
following formula: 
  

									
	 SR1 =
	  	 	SR0 x	  	  	SP0
________	 	
	  	  	(SP0 — C)	 	

 where, 
  

	SR0      =	 the Fixed Settlement Rate in effect immediately prior to the close of business on the Record Date for such dividend or distribution;

  

	SR1      =	 the Fixed Settlement Rate in effect immediately after the close of business on the Record Date for such dividend or distribution;

  

	SP0      =	 the average of the Daily VWAPs of the Class A Common Stock over the 10 consecutive Trading Day period ending on the Trading Day immediately
preceding the Ex-Date for such distribution; and 

  
 45 

	C      =	the amount in cash per share the Company distributes to holders of Class A Common Stock. 

If C (as defined above) is equal to or greater than SP0 (as defined above) or if the difference between SP0 and C is less than $1.00, in lieu of the foregoing adjustment, provision shall be made for each Holder of a Unit or
Separate Purchase Contract to receive, for each Unit or Separate Purchase Contract, at the same time and upon the same terms as holders of Class A Common Stock, the amount of cash that such Holder would have received if such Holder owned a
number of shares of Class A Common Stock equal to the Maximum Settlement Rate on the Record Date for such cash dividend or distribution. 
 Any adjustment made pursuant to this clause (iv) shall become effective immediately after the close of business on the Record Date for such dividend or distribution. In the event that any dividend or
distribution described in this clause (iv) is not so made, each Fixed Settlement Rate shall be readjusted, effective as of the date the Board of Directors publicly announces its decision not to pay such dividend or distribution, to such Fixed
Settlement Rate which would then be in effect if such dividend or distribution had not been declared. 
 (v) The Company or one
or more Subsidiaries of the Company makes purchases of Class A Common Stock pursuant to a tender offer or exchange offer by the Company or one of its Subsidiaries for Class A Common Stock if the amount of cash and value of any other
consideration included in the payment per share of Class A Common Stock validly tendered or exchanged exceeds the average of the Daily VWAP per share of Class A Common Stock for the 10 consecutive Trading Day period commencing on, and
including, the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender offer or exchange offer (the “Tender Offer Expiration Date”), in which event each Fixed Settlement Rate shall
be adjusted based on the following formula: 
  

									
	 SR1 =
	  	 	SR0 x	  	  	(FMV + (SP1 x 
OS1))
________	 	
	  	  	(SP1 x 
OS0)	 	

 where, 
  

	SR0      =	 the Fixed Settlement Rate in effect immediately prior to the close of business on the last Trading Day of the 10 consecutive Trading Day period
commencing on, and including, the Trading Day next succeeding the Tender Offer Expiration Date; 

  

	SR1      =	 the Fixed Settlement Rate in effect immediately after the close of business on the last Trading Day of the 10 consecutive Trading Day period commencing
on, and including, the Trading Day next succeeding the Tender Offer Expiration Date; 

  

	FMV    =	the Fair Market Value of the aggregate value of all cash and any other consideration paid or payable for shares purchased in such tender offer or exchange offer;

  
 46 

	 	OS1      =	 the number of shares of Class A Common Stock outstanding immediately after the last time tenders or exchanges may be made pursuant to such tender
offer or exchange offer on the Tender Offer Expiration Date (the “Tender Offer Expiration Time”) (after giving effect to such tender offer or exchange offer); 

 

	 	OS0      =	 the number of shares of Class A Common Stock outstanding immediately prior to the Tender Offer Expiration Time (prior to giving effect to such
tender offer or exchange offer); and 

  

	 	SP1      =	 the average of the Daily VWAPs of the Class A Common Stock for the 10 consecutive Trading Day period commencing on, and including, the Trading Day
next succeeding the Tender Offer Expiration Date. 

 Any adjustment made pursuant to this
clause (v) shall become effective immediately after the close of business on the last Trading Day of the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Tender Offer Expiration Date;
provided that, if any date for determining the number of shares of Class A Common Stock issuable to a Holder occurs during the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Tender
Offer Expiration Date, references in the preceding paragraph to 10 consecutive Trading Days shall be deemed to be replaced with such lesser number of consecutive Trading Days as have elapsed between such Tender Offer Expiration Date and such date of
determination for the purposes of determining the Fixed Settlement Rates. If the Company or one of its Subsidiaries is obligated to purchase shares of Class A Common Stock pursuant to any such tender offer or exchange offer, but the Company or
such Subsidiary is permanently prevented by applicable law from effecting any such purchases, or all such purchases are rescinded, then each Fixed Settlement Rate shall be readjusted to such Fixed Settlement Rate that would then be in effect if such
tender offer or exchange offer had not been made. 
 (b) Rights Plans. To the extent that the Company has a rights plan
in effect with respect to the Class A Common Stock on any date for determining the number of shares of Class A Common Stock issuable to a Holder, Holders shall receive, in addition to the Class A Common Stock, the rights under such
rights plan, unless, prior to such date of determination, the rights have separated from the Class A Common Stock, in which case each Fixed Settlement Rate shall be adjusted at the time of separation of such rights as if the Company made a
distribution to all holders of the Class A Common Stock pursuant to Section 5.01(a)(iii), subject to readjustment in the event of the expiration, termination or redemption of such rights. 

(c) Adjustment for Tax Reasons. To the extent permitted by applicable law and the continued listing requirements of the NYSE (or
any other stock exchange on which the Units, Separate Purchase Contracts or Class A Common Stock may then be listed), the Company may make such increases in each Fixed Settlement Rate, in addition to any other increases required by this Article
5, as the Company deems advisable to avoid or diminish any income tax to holders of the Class A Common Stock resulting from any dividend or distribution of shares of Class A Common Stock (or issuance of rights, options or warrants to
acquire shares of Class A Common Stock) or from any event treated as such for income tax purposes or for any other reasons; provided that the same proportionate adjustment must be made to each Fixed Settlement Rate. 

  
 47 

 (d) Calculation of Adjustments. All adjustments to each Fixed Settlement Rate shall
be calculated to the nearest 1/10,000th of a share of Class A Common Stock. No adjustment in a Fixed Settlement Rate shall be required unless such adjustment would require an increase or decrease of at least 1.0% therein. If any adjustment is
not required to be made by reason of this Section 5.01(d), then such adjustment shall be carried forward and taken into account in any subsequent adjustment; provided that on any date for determining the number of shares of Class A
Common Stock issuable to a Holder, adjustments to the Fixed Settlement Rates shall be made with respect to any such adjustment carried forward and which has not been taken into account before such date of determination. 

(e) Adjustments to Stock Prices. Upon each adjustment to the Fixed Settlement Rates pursuant to Section 5.01, an inversely
proportional adjustment shall also be made to the Reference Price. Such adjustment shall be made by dividing the Reference Price by a fraction, the numerator of which shall be the Minimum Settlement Rate immediately after such adjustment pursuant to
Section 5.01 and the denominator of which shall be such Minimum Settlement Rate immediately before such adjustment. For the avoidance of doubt, no separate inversely proportional adjustment shall be made to the Threshold Appreciation Price
because it is equal to the Stated Amount divided by the Minimum Settlement Rate (such quotient rounded to the nearest $0.0001), as adjusted in the manner described herein. The Company shall make appropriate adjustments, if any, to the
relevant Daily VWAPs prior to the relevant issuance date, Record Date, Ex-Date, effective date or Tender Offer Expiration Date, as the case may be, used to calculate the Applicable Market Value, Redemption Market Value, Stock Price or Merger
Termination Stock Price to account for any adjustment to the Fixed Settlement Rates if the related issuance date, Record Date, Ex-Date, effective date or Tender Offer Expiration Date occurs during (i) the 20 consecutive Trading Day period used
for calculating the Applicable Market Value or Redemption Market Value, (ii) any period during which the Merger Termination Stock Price is calculated for purposes of determining the Merger Redemption Rate or (iii) any period during which
the Stock Price is calculated for purposes of determining the Fundamental Change Early Settlement Rate. 
 (f) Limitation on
Adjustments. No adjustment to the Fixed Settlement Rates shall be made if Holders of Units or any separate Purchase Contracts may participate in the transaction (at a level based on the Maximum Settlement Rate) that would otherwise give rise to
an adjustment at the same time and on the same terms as holders of the Class A Common Stock without having to settle the Purchase Contracts. In addition, except as set forth above, the Fixed Settlement Rates shall not be adjusted for the
issuance of common stock of the Company or any securities convertible into or exchangeable for common stock or carrying the right to purchase any of the foregoing, or for the repurchase of common stock. For the avoidance of doubt, the Fixed
Settlement Rates shall not be adjusted: 
 (i) upon the issuance of any shares of Class A 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 Class A Common Stock under any plan;

 (ii) upon the issuance of any shares of Class A Common Stock, restricted stock or restricted stock units
or rights, options or warrants to purchase those shares pursuant to any present or future employee, director or consultant benefit plan or program of or assumed by the Company or any of its subsidiaries; 

  
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 (iii) upon the issuance of any shares of Class A Common Stock pursuant
to any option, warrant, right or exercisable, exchangeable or convertible security outstanding as of the Issue Date; 
 (iv) upon the repurchase of any shares of Class A Common Stock pursuant to an open market share repurchase program or other buy-back transaction that is not a tender offer or exchange offer of the
nature described in Section 5.01(a)(v); 
 (v) for the sale or issuance of shares of Class A Common
Stock, or securities convertible into or exercisable for shares of Class A Common Stock, for cash, including at a price per share less than the Fair Market Value thereof or otherwise or in an acquisition, except as described in one of
Section 5.01(a)(i) through Section 5.01(a)(v) above; 
 (vi) for a third party tender offer; or

 (vii) for a change in the par value or no par value of the Class A Common Stock. 

(g) Notice of Adjustment. Whenever the Fixed Settlement Rates are adjusted, the Company shall: 

(i) prepare and transmit to the Purchase Contract Agent an Officers’ Certificate setting forth such adjusted Fixed
Settlement Rates, the adjusted Fundamental Change Early Settlement Rates and the adjusted Merger Redemption Rates, the method of calculation thereof in reasonable detail and the facts requiring such adjustment and upon which such adjustment is
based; 
 (ii) within ten Business Days following the occurrence of an event that requires an adjustment to the
Fixed Settlement Rates, the Fundamental Change Early Settlement Rates and the Merger Redemption Rates, provide, or cause to be provided, a written notice to the Holders of the occurrence of such event, which notice may be made by a press release;
and 
 (iii) within ten Business Days following the determination of such adjusted Fixed Settlement Rates,
Fundamental Change Early Settlement Rates and Merger Redemption Rates provide, or cause to be provided, to the Holders a statement setting forth in reasonable detail the method by which the adjustment to such Fixed Settlement Rates, Fundamental
Change Early Settlement Rates and Merger Redemption Rates was determined and setting forth such adjusted Fixed Settlement Rates, Fundamental Change Early Settlement Rates and Merger Redemption Rates and the facts requiring such adjustment and upon
which such adjustment is based, which notice may be made by a press release. 

  
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 Section 5.02. Reorganization Events. (a) In the event of:

 (i) any merger with or into or consolidation with any other entity (other than a merger or consolidation in
which the Company is the continuing or surviving corporation and in which the Class A Common Stock outstanding immediately prior to the merger or consolidation is not exchanged for cash, securities or other property of the Company or another
Person); 
 (ii) any sale, assignment, transfer, lease or conveyance of all or substantially all of the
properties and assets of the Company to any other Person or entity; 
 (iii) any reclassification of Class A
Common Stock into securities including securities other than Class A Common Stock; or 
 (iv) any statutory
exchange of securities of the Company with another Person (other than in connection with a merger or acquisition), 
 in each case, as a result
of which the Class A Common Stock would be converted into, or exchanged for, securities, cash and/or other property (each, a “Reorganization Event”), then at and after the effective time of the Reorganization Event, each
Purchase Contract outstanding shall, without the consent of Holders, become a contract to purchase the kind and amount of securities, cash and/or other property that a holder of Class A Common Stock would have been entitled to receive in
connection with such Reorganization Event (such securities, cash and other property, the “Exchange Property” with each “Unit of Exchange Property” being the kind and amount of Exchange Property that a holder of one
share of Class A Common Stock would have received in such Reorganization Event) and, prior to or at the effective time of such Reorganization Event, the Company or the successor or purchasing Person, as the case may be, shall execute with the
Purchase Contract Agent and the Trustee a supplemental agreement permitted under Section 9.01(iv) providing for such change in the right to settle the Purchase Contracts. 
 For purposes of the foregoing, the type and amount of Exchange Property in the case of any Reorganization Event that causes the Class A Common Stock to be converted into, or exchanged for, the right
to receive more than a single type of consideration (determined based in part upon any form of shareholder election) will be deemed to be the weighted average of the types and amounts of consideration received by the holders of Class A Common
Stock that affirmatively make such an election. The Company shall notify the Purchase Contract Agent in writing of such weighted average as soon as practicable after such determination is made. 

The number of Units of Exchange Property that the Company shall cause to be delivered for each Purchase Contract settled or redeemed (if
the Company elects not to deliver solely cash in respect of such redemption pursuant to Section 4.09(c)(ii)) following the effective date of such Reorganization Event shall be equal to the number of shares of Class A Common Stock that the
Company would otherwise be required to deliver as determined by the Settlement Rate, the Early Mandatory Settlement Rate, the Early Settlement Rate, the Fundamental Change Early Settlement Rate or the Merger Redemption Rate, as the case may be
(without interest thereon and without any right to dividends or distributions thereon which have a Record Date prior to the date such Purchase Contracts are actually settled). Each Fixed Settlement Rate shall be determined based upon the applicable
Market Value of a Unit of Exchange Property that a holder of one share of Class A Common Stock would have received in such Reorganization Event. 

  
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 The “Market Value” of a Unit of Exchange Property shall be determined, on
any date of determination, with respect to: 
 (A) any publicly traded securities that comprises all or part of the Exchange
Property, based (to the extent practicable) on the volume weighted average price of such securities on such date; 
 (B) any
cash that composes all or part of the Exchange Property, based on the amount of such cash; and 
 (C) any other property that
composes all or part of the Exchange Property, based on the value of such property on such date, as determined, in each case, by a nationally recognized independent investment banking firm retained by the Company for this purpose. 

At and after the effective time of any Reorganization Event, references to Class A Common Stock in the definition of “Trading
Day” shall be replaced by references to any publicly traded securities that comprise all or part of the Exchange Property. 

Such supplemental agreement described in the first paragraph of this Section 5.02(a) shall provide for adjustments that shall be as
nearly equivalent as is possible to the adjustments provided for in this Article 5. If, in the case of any Reorganization Event, the Exchange Property includes shares of stock, securities or other property or assets (including cash or any
combination thereof) of a Person other than the successor or purchasing Person, as the case may be, in such Reorganization Event, then such supplemental agreement shall also be executed by such other Person and shall contain such additional
provisions to protect the interests of the Holders of the Equity-Linked Securities as the Board of Directors shall reasonably consider necessary by reason of the foregoing. 
 (b) In the event the Company shall execute a supplemental agreement pursuant to Section 5.02(a), the Company shall promptly file with the Purchase Contract Agent an Officers’ Certificate briefly
stating the reasons therefor, the kind or amount of cash, securities or property or asset that will comprise the Exchange Property after any such Reorganization Event, any adjustment to be made with respect thereto and that all conditions precedent
have been complied with, and shall promptly mail notice thereof to all Holders. The Company (or any successor) shall, within 20 days of the occurrence of any Reorganization Event or, if earlier, within 20 days of the execution of any supplemental
agreement pursuant to Section 5.02(a), provide written notice to the Purchase Contract Agent and Holders of such occurrence of such event and of the kind and amount of the cash, securities or other property that constitute the Exchange Property
and of the execution of such supplemental agreement, if applicable. Failure to deliver such notice shall not affect the operation of this Section 5.02 or the legality or validity of any such supplemental agreement. 

(c) The Company shall not become a party to any Reorganization Event unless its terms are consistent with this Section 5.02. None of
the foregoing provisions shall affect the right of a Holder of Purchase Contracts to effect Early Settlement pursuant to Section 4.06 and Section 4.07 prior to the effective date of such Reorganization Event. 

  
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 (d) The above provisions of Section 5.02(a) shall similarly apply to successive
Reorganization Events and the provisions of Section 5.01 shall apply to any shares of Capital Stock of the Company (or any successor) received by the holders of Class A Common Stock in any such Reorganization Event. 

ARTICLE 6 

CONCERNING THE HOLDERS OF PURCHASE CONTRACTS

 Section 6.01. Evidence of Action Taken by Holders. Any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Agreement to be given or taken by a specified percentage of number of Purchase Contracts may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
specified percentage of Holders in Person or by 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.
Proof of execution of any instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Agreement and (subject to Section 8.01 and Section 8.03) conclusive in favor of the Purchase Contract Agent and the
Company, if made in the manner provided in this Article 6. 
 Section 6.02. Proof of Execution of Instruments and
of Holding of Securities. Subject to Section 8.01 and Section 8.03, the execution of any instrument by a Holder or his agent or proxy may be proved in the following manner: 

(a) The fact and date of the execution by any Holder of any instrument may be proved by the certificate of any notary public or other
officer of any jurisdiction authorized to take acknowledgments of deeds or administer oaths that the Person executing such instruments acknowledged to him the execution thereof, or by an affidavit of a witness to such execution sworn to before any
such notary or other such officer. Where such execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute sufficient proof of the authority of the Person executing the same.

 (b) The ownership of the Units and the Purchase Contracts shall be proved by the Security Register or by a certificate of the
Security Registrar. 
 Section 6.03. Purchase Contracts Deemed Not Outstanding. In determining whether the
Holders of the requisite number of Outstanding Purchase Contracts have concurred in any direction, consent or waiver under this Agreement, Purchase Contracts which are owned by the Company or by any Affiliate of the Company with respect to which
such determination is being made shall be disregarded and deemed not to be Outstanding Purchase Contracts for the purpose of any such determination, except that for the purpose of determining whether the Purchase Contract Agent shall be protected in
relying on any such direction, consent or waiver only Purchase Contracts which a Responsible Officer of the Purchase Contract Agent knows are so owned shall be so disregarded. Purchase Contracts so owned which have been pledged in good

  
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faith may be regarded as Outstanding Purchase Contracts if the pledgee establishes to the satisfaction of the Purchase Contract Agent the pledgee’s right so to act with respect to such
Purchase Contracts and that the pledgee is not the Company or any Affiliate of the Company. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Purchase Contract Agent in
accordance with such advice. Upon request of the Purchase Contract Agent, the Company shall furnish to the Purchase Contract Agent promptly an Officers’ Certificate listing and identifying all Purchase Contracts, if any, known by the Company to
be owned or held by or for the account of any of the above described Persons; and, subject to Section 8.01 and Section 8.03, the Purchase Contract Agent shall be entitled to accept such Officers’ Certificate as conclusive evidence of
the facts therein set forth and of the fact that all Purchase Contracts not listed therein are Outstanding Purchase Contracts for the purpose of any such determination. 
 Section 6.04. Right of Revocation of Action Taken. At any time prior to (but not after) the evidencing to the Purchase Contract Agent, as provided in Section 6.01, of the taking of
any action by the Holders of the percentage of the number of Purchase Contracts specified in this Agreement in connection with such action, any Holder of a Purchase Contract the serial number of which is shown by the evidence to be included among
the serial numbers of the Purchase Contracts the Holders of which have consented to such action may, by filing written notice at the Corporate Trust Office and upon proof of holding as provided in this Article 6, revoke such action so far as
concerns such Purchase Contract; provided that such revocation shall not become effective until three Business Days after such filing. Except as aforesaid, any such action taken by the Holder of any Purchase Contract shall be conclusive and
binding upon such Holder and upon all future Holders and owners of such Purchase Contract and of any Purchase Contracts issued in exchange or substitution therefor or on registration of transfer thereof, irrespective of whether or not any notation
in regard thereto is made upon any such Purchase Contract. Any action taken by the Holders of the percentage of the number of Purchase Contracts specified in this Agreement in connection with such action shall be conclusively binding upon the
Company, the Purchase Contract Agent, the Trustee and the Holders of all the Purchase Contracts affected by such action. 

Section 6.05. Record Date for Consents and Waivers. The Company may, but shall not be obligated to, establish a record
date for the purpose of determining the Persons 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 of
Purchase Contracts. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and any such Persons, shall be entitled to give, make or take any such request, demand, authorization, direction, notice, consent,
waiver or other action, whether or not such Holder remains a Holder after such record date; provided, however, that unless such waiver or consent is obtained from the Holders, or duly designated proxies, of the requisite number of
Outstanding Purchase Contracts prior to the date which is the 120th day after such record date, any such waiver or consent previously given shall automatically and, without further action by any Holder be cancelled and of no further effect.

  
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 ARTICLE 7 
 REMEDIES 
 Section 7.01. Unconditional Right of
Holders to Receive Shares of Class A Common Stock. Each Holder of a Purchase Contract (whether or not included in a Unit) shall have the right, which is absolute and unconditional, to receive the shares of Class A Common Stock (and/or,
in the case of a Merger Termination Redemption, any cash included in the Redemption Amount), pursuant to such Purchase Contract and to institute suit for the enforcement of any such right to receive the shares of Class A Common Stock (and/or,
in the case of a Merger Termination Redemption, any cash included in the Redemption Amount) and such right shall not be impaired without the consent of such Holder. 
 Section 7.02. Notice To Purchase Contract Agent; Limitation On Proceedings. Holders of not less than 25% of Outstanding Purchase Contracts, by notice given to the Purchase Contract
Agent, may request that Purchase Contract Agent to institute proceedings with respect to a default relating to any covenant hereunder. No Holder of Purchase Contracts may institute any proceedings, judicial or otherwise, with respect to this
Agreement or for any remedy hereunder, except in the case of failure of the Purchase Contract Agent, for 60 days, to act after the Purchase Contract Agent has received a written request to institute proceedings in respect of a default with respect
to any covenant hereunder from the Holders of not less than 25% of the Outstanding Purchase Contracts, as well as an offer of indemnity reasonably satisfactory to the Purchase Contract Agent. This provision will not prevent any Holder of Purchase
Contracts from instituting suit for the delivery of Class A Common Stock (and/or, in the case of a Merger Termination Redemption, any cash included in the Redemption Amount), deliverable upon settlement or redemption of the Purchase Contracts
on any Settlement Date. 
 Section 7.03. Restoration of Rights and Remedies. If any Holder or the Purchase
Contract Agent 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 or the Purchase Contract Agent,
then and in every such case, subject to any determination in such proceeding, the Company and such Holder or the Purchase Contract Agent 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 7.04. Rights
and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 3.10, no right or remedy herein conferred upon or reserved
to the Holders or the Purchase Contract Agent 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 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 7.05. Delay or Omission Not Waiver. No delay or omission of any Holder or the Purchase Contract Agent to
exercise any right or remedy upon a default hereunder shall impair any such right or remedy or constitute a waiver of any such right. Every right and remedy given by this Article or by law to the Holders or the Purchase Contract Agent may be
exercised from time to time, and as often as may be deemed expedient, by such Holders or the Purchase Contract Agent. 

  
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 Section 7.06. Undertaking for Costs. Each party to this Agreement agrees,
and each Holder of a Purchase Contract, by its acceptance of such Purchase Contract shall be deemed to have agreed, that any court 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 shall not apply to any suit instituted by (a) the Purchase Contract Agent, (b) any Holder, or group of Holders, holding in the aggregate more than 10% of the Outstanding Purchase Contracts, or
(c) any Holder for the enforcement of the right to receive shares of Class A Common Stock or other Exchange Property issuable upon settlement or the Redemption Amount payable upon redemption, as the case may be, of the Purchase Contracts
held by such Holder. 
 Section 7.07. Waiver of Stay or Execution 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 assume 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. 

Section 7.08. Control by Majority. The Holders of not less than a majority in number of the Outstanding Purchase
Contracts shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Purchase Contract Agent, or of exercising any trust or power conferred upon the Purchase Contract Agent; provided
that the Purchase Contract Agent has received indemnity reasonably satisfactory to it. Notwithstanding the foregoing, the Purchase Contract Agent may refuse to follow any direction that is in conflict with any law or the Purchase Contract Agreement,
that may involve it in personal liability or that may be unduly prejudicial to the Holders of Purchase Contracts not joining in the action. 
 ARTICLE 8 
 THE PURCHASE
CONTRACT AGENT AND TRUSTEE 
 Section 8.01. Certain
Duties and Responsibilities. (a) Each of the Purchase Contract Agent and Trustee undertakes to perform, with respect to the Units and Purchase Contracts, such duties and only such duties as are specifically delegated to it and set forth in
this Agreement. 

  
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 (b) No provision of this 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) the duties and obligations of the Purchase Contract Agent with respect to the Purchase Contracts shall be determined solely by the express provisions of this Agreement, and the Purchase Contract Agent
shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Purchase Contract Agent or the
Trustee; 
 (ii) in the absence of bad faith on the part of the Purchase Contract Agent and/or the Trustee, as
applicable, the Purchase Contract Agent and/or the Trustee, as applicable, may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the
Purchase Contract Agent and/or the Trustee, as applicable, and conforming to the requirements of this Agreement; but in the case of any such statements, certificates or opinions which by any provision hereof are specifically required to be furnished
to the Purchase Contract Agent and/or the Trustee, the Purchase Contract Agent and/or the Trustee, as applicable, shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Agreement; 

(iii) the Purchase Contract Agent and/or the Trustee, as applicable, shall not be liable for any error of judgment made in
good faith by a Responsible Officer or Responsible Officers of the Purchase Contract Agent and/or the Trustee, as applicable, unless it shall be proved that the Purchase Contract Agent was negligent in ascertaining the pertinent facts; and

 (iv) the Purchase Contract Agent and/or the Trustee, as applicable, 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 pursuant to Section 7.08 relating to the time, method and place of conducting any proceeding for any remedy available to the Purchase
Contract Agent and/or the Trustee, as applicable, or exercising any right or power conferred upon the Purchase Contract Agent and/or the Trustee, as applicable, under this Agreement. 

(c) This Agreement shall not be deemed to create a fiduciary relationship under state or federal law between Wilmington Trust, National
Association, in its capacity as the Purchase Contract Agent, and any Holder of any Equity-Linked Security or between Wilmington Trust, National Association, in its capacity as Trustee under the Indenture, and any Holder of any Purchase Contract
(whether separated or as part of a Unit). Nothing herein shall be deemed to govern or effect the Trustee’s rights, duties, responsibilities, benefits, protections, indemnities or immunities with respect to the Notes, which shall be governed by
the Indenture. 
 None of the provisions contained in this Agreement shall require the Purchase Contract Agent to expend or risk
its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there shall be reasonable ground for believing that the repayment of such funds or adequate
indemnity against such liability is not reasonably assured to it. 

  
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 Section 8.02. Notice of Default. Within 90 days after the occurrence of
any default by the Company hereunder of which a Responsible Officer of the Purchase Contract Agent has knowledge (subject to Section 8.03(h)), the Purchase Contract Agent shall transmit by mail to the Company and the Holders of Purchase
Contracts, as their names and addresses appear in the Security Register, notice of such default hereunder, unless such Responsible Officer of the Purchase Contract Agent has actual knowledge that such default shall have been cured or waived.

 Section 8.03. Certain Rights of Purchase Contract Agent. Subject to the provisions of Section 8.01:

 (a) the Purchase Contract Agent may rely and shall be protected in acting or refraining from acting upon any resolution,
Officers’ Certificate or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon, security or other paper or document believed by it to be genuine and to have been signed or
presented by the proper party or parties; 
 (b) any request, direction, order or demand of the Company mentioned herein shall
be sufficiently evidenced by an Officers’ Certificate or Issuer Order (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Purchase Contract Agent by
a Board Resolution; 
 (c) the Purchase Contract Agent may consult with counsel of its selection and any advice of such counsel
promptly confirmed in writing shall be full and complete authorization and protection in respect of any action taken, suffered or omitted to be taken by it hereunder in good faith and in reliance thereon in accordance with such advice or Opinion of
Counsel; 
 (d) 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, order or direction of any of the Holders pursuant to the provisions of this Agreement (including, without limitation, pursuant to Section 7.08), unless such Holders shall have offered to the Purchase Contract
Agent reasonable security or indemnity against the costs, expenses and liabilities which might be incurred therein or thereby; 

(e) the Purchase Contract Agent shall not be liable for any action taken or omitted by it in good faith and believed by it to be
authorized or within the discretion, rights or powers conferred upon it by this Agreement; 
 (f) 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, consent, order, approval, appraisal, bond, debenture, note, coupon, security, or
other paper or document unless requested in writing so to do by the Holders of not less than a majority in number of the Outstanding Purchase Contracts; provided that, if the payment within a reasonable time to the Purchase Contract Agent of
the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Purchase Contract Agent, not reasonably assured to the Purchase Contract Agent by the security afforded to it by

  
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the terms of this Agreement, the Purchase Contract Agent may require reasonable indemnity against such expenses or liabilities as a condition to proceeding; the reasonable expenses of every such
investigation shall be paid by the Company or, if paid by the Purchase Contract Agent or any predecessor Purchase Contract Agent, shall be repaid by the Company upon demand; 
 (g) the Purchase Contract Agent may execute any of the rights or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys not regularly in its employ and the
Purchase Contract Agent shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed with due care by it hereunder; 
 (h) the Purchase Contract Agent shall not be charged with knowledge of any default with respect to a series of Securities unless a Responsible Officer of the Purchase Contract Agent assigned to the
Corporate Trust Office of the Purchase Contract Agent (or any successor division or department of the Purchase Contract Agent) shall have received written notice of such default from the Company or any Holder; 

(i) the permissive rights of the Purchase Contract Agent hereunder shall not be construed as duties; 

(j) in no event shall the Purchase Contract Agent be liable for any consequential, special, punitive or indirect loss or damages, even if
advised of the likelihood thereof in advance and regardless of the form of action; 
 (k) 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 and the Trustee (whether or not the Trustee is
expressly referred to in connection with any such rights, privileges, protections, immunities and benefits) in each of their capacities hereunder, and to each agent, custodian and other Person employed to act hereunder; 

(l) each of the Purchase Contract Agent and the Trustee may request that the Company deliver an Officers’ Certificate setting forth
the name of the individuals and/or titles of Officers authorized at such time to take specific actions pursuant to this Agreement, which Officers’ Certificate may be signed by any Person authorized to sign an Officers’ Certificate,
including any Person specified as so authorized in any such Officers’ Certificate previously delivered and not superseded; 

(m) neither the Purchase Contract Agent nor the Trustee shall be responsible for delays or failures in performance of its obligations
hereunder resulting from acts beyond its reasonable control. Such acts shall include but not be limited to acts of God, strikes, lockouts, riots, acts of war, epidemics, governmental regulations superimposed after the fact, fire, communication line
failures, computer viruses, power failures, earthquakes, terrorist attacks or other disasters, it being understood that each of the Purchase Contract Agent and the Trustee shall use reasonable best efforts which are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances; 

  
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 (n) the Purchase Contract Agent shall not be accountable with respect to the validity or
value (or the kind or amount) of any shares of Class A Common Stock or any securities or property that may at any time be issued or delivered hereunder, and the Purchase Contract Agent makes no representation with respect thereto; and

 (o) the Purchase Contract Agent shall not be responsible for any failure of the Company to make any cash payment or to issue,
transfer or deliver any shares of Class A Common Stock or other securities or property hereunder. 

Section 8.04. Not Responsible for Recitals. The recitals contained herein and in the Certificates shall be taken as
the statements of the Company and neither the Purchase Contract Agent nor the Trustee assumes any responsibility for their accuracy. Neither the Purchase Contract Agent nor the Trustee makes any representations as to the validity or sufficiency of
either this Agreement or of the Purchase Contracts. Neither the Purchase Contract Agent nor the Trustee shall be accountable for the use or application by the Company of the proceeds in respect of the Purchase Contracts. 

Section 8.05. May Hold Units and Purchase Contracts. Any Security Registrar or any other agent of the Company, or the
Purchase Contract Agent, the Trustee and any of their Affiliates, in their individual or any other capacity, may become the owner of Units, Separate Purchase Contracts and Separate Notes and may otherwise deal with the Company 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 of Units, Separate Purchase Contracts and Separate Notes. 

Section 8.06. Money Held in Custody. Money held by the Purchase Contract Agent in custody hereunder need not be
segregated from other funds except to the extent required by law or provided herein. The Purchase Contract Agent shall be under no obligation to invest or pay interest on any money received by it hereunder except as specifically instructed by the
Company in an Issuer Order. 
 Section 8.07. Compensation, Reimbursement and Indemnification. The Company
covenants and agrees to pay to the Purchase Contract Agent from time to time, and the Purchase Contract Agent shall be entitled to, such compensation as shall be agreed to in writing between the Company and the Purchase Contract Agent and the
Company covenants and agrees to pay or reimburse the Purchase Contract Agent and each predecessor Purchase Contract Agent upon its request for all reasonable expenses, disbursements and advances incurred or made by or on behalf of it in accordance
with any of the provisions of this Agreement (including the reasonable compensation and the expenses and disbursements of its counsel and of all agents and other Persons not regularly in its employ) except any such expense, disbursement or advance
as may arise from its gross negligence or bad faith. The Company also covenants to indemnify the Purchase Contract Agent and each predecessor Purchase Contract Agent for, and to hold it harmless against, any and all loss, liability, damage, claim or
expense, including taxes (other than taxes based on the income of the Purchase Contract Agent), incurred without gross negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this Agreement and
its duties hereunder, including the costs and expenses of defending itself against or investigating any claim or liability in the premises. The obligations of 

  
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the Agreement under this Section 8.07 to compensate and indemnify the Purchase Contract Agent and each predecessor Purchase Contract Agent and to pay or reimburse the Purchase Contract Agent
and each predecessor Purchase Contract Agent for expenses, disbursements and advances shall survive the satisfaction and discharge of this Agreement or the resignation or removal of the Purchase Contract Agent. If the Purchase Contract Agent incurs
any expenses, or if the Purchase Contract Agent is entitled to any compensation for services rendered (including fees and expenses of its agent and counsel), in each case, in connection with the performance of its obligations under this Agreement
after the occurrence of a Bankruptcy Event, then any such expenses or compensation are intended to constitute expenses of administration under applicable Bankruptcy Laws. 
 Section 8.08. Corporate Purchase Contract Agent Required; Eligibility. There shall at all times be a Purchase Contract Agent hereunder. The Purchase Contract Agent shall at all times be
a corporation organized and doing business under the laws of the United States of America or of any state thereof or the District of Columbia having a combined capital and surplus of at least $25,000,000, and which is authorized under such laws to
exercise corporate trust powers and is subject to supervision or examination by federal, state or District of Columbia authority, or a corporation or other Person permitted to act as trustee by the Commission. If such corporation publishes reports
of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Purchase Contract Agent shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately
in the manner and with the effect specified in this Article. 
 Section 8.09. 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 8.10. 
 (b) The Purchase
Contract Agent may resign at any time by giving written notice thereof to the Company 60 days prior to the effective date of such resignation. If the instrument of acceptance by a successor Purchase Contract Agent required by Section 8.10 shall
not have been delivered to the Purchase Contract Agent within 30 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 the Holders
of a majority in number of the Outstanding Purchase Contracts. If the instrument of acceptance by a successor Purchase Contract Agent required by Section 8.10 shall not have been delivered to the Purchase Contract Agent within 30 days after
evidence of such removal is delivered to the Company and Purchase Contract Agent, the removed 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. 

  
 60 

 (d) If at any time: 

(i) the Purchase Contract Agent shall cease to be eligible under Section 8.08 and shall fail to resign after written
request therefor by the Company or by any such Holder; or 
 (ii) the Purchase Contract Agent shall be adjudged
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, (x) the Company by a Board Resolution may remove the Purchase Contract Agent, or (y) any Holder who has been a bona fide Holder of a Purchase Contract 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
Purchase Contract Agent for any cause, the Company shall promptly appoint a successor Purchase Contract Agent and shall comply with the applicable requirements of Section 8.10. If no successor Purchase Contract Agent shall have been so
appointed by the Company and accepted appointment in the manner required by Section 8.10, any Holder who has been a bona fide Holder of a Purchase Contract 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. 
 (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 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 8.10. 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. At the request of the Company or the successor Purchase Contract Agent, such retiring Purchase Contract Agent shall, upon its receipt of
payment or reimbursement of any amounts due to it hereunder, 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 shall 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 paragraph (a) of this Section. 

  
 61 

 (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. 

Section 8.11. Merger; Conversion; Consolidation or Succession to Business. Any corporation into which the Purchase
Contract Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Purchase Contract Agent shall be a party, or any corporation 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 corporation shall be otherwise qualified and eligible under this Article,
without the execution or filing of any paper or any further act on the part of any of the parties hereto. If any Equity-Linked Securities shall have been authenticated on behalf of the Holders by the Trustee and Purchase Contract Agent then in
office, but not delivered, any successor by merger, conversion or consolidation to such Purchase Contract Agent may adopt such Purchase Contract Agent’s authentication and deliver the Equity-Linked Securities so authenticated with the same
effect as if such successor Purchase Contract Agent had itself authenticated such Equity-Linked Securities. 

Section 8.12. 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 as received by the Purchase Contract Agent in its capacity as Security Registrar. 

(b) If three or more Holders (such three or more Holders, the “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 or Separate Purchase Contract 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 or Separate Purchase Contracts and is accompanied by a copy of the form of proxy or other communication that 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 that 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 8.13. Tax Compliance. (a) The Purchase Contract Agent shall 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 shares of Class A Common Stock (or, if applicable,
cash) delivered by it upon settlement or redemption of the Purchase Contracts, any amounts paid in lieu of fractional shares of Class A Common Stock upon settlement or redemption of the Purchase Contracts, and any other amounts included in the
Purchase Contract Settlement Fund paid to Holders upon settlement of any Purchase Contracts or (ii) the issuance, delivery, holding, transfer or exercise of rights under the Purchase Contracts. Such compliance shall include, without limitation,
the 

  
 62 

 
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. Notwithstanding
anything to the contrary, the Purchase Contract Agent’s obligations under this Section 8.14 shall extend only to form 1099 reporting and any applicable income tax or backup withholding unless and until the Purchase Contract Agent is
otherwise notified by the Company pursuant to paragraph (b) below. 
 (b) The Purchase Contract Agent shall, in accordance
with the terms hereof, comply with any written direction received from the Company 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 8.01(b)(ii). 
 (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. For the avoidance of doubt, any costs or expenses incurred by the Purchase Contract Agent in connection with complying with its obligations under this
Section 8.14 shall be covered by Section 8.07. 
 ARTICLE 9 

SUPPLEMENTAL AGREEMENTS 
 Section 9.01. Supplemental Agreements Without Consent of Holders. Without the consent of any Holders, the Company, the Purchase Contract Agent and the Trustee 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, to: 
 (i) evidence the succession of another Person to the Company’s obligations, and the assumption by any such successor of the covenants and obligations of the Company under this Agreement and the Units
and Separate Purchase Contracts, if any; 
 (ii) add to the covenants for the benefit of Holders or to surrender
any of the Company’s rights or powers hereunder; 
 (iii) evidence and provide for the acceptance of
appointment of a successor Purchase Contract Agent; 
 (iv) upon the occurrence of a Reorganization Event, solely
(a) provide that each Purchase Contract shall become a contract to purchase Exchange Property and (b) effect the related changes to the terms of the Purchase Contracts, in each case, as required pursuant to Section 5.02(a);

  
 63 

 (v) conform the terms of the Purchase Contracts or the provisions of this
Agreement to the “Description of the Purchase Contracts” or “Description of the Units” sections in the Prospectus Supplement; 
 (vi) cure any ambiguity or manifest error, to correct or supplement any provisions that may be inconsistent, so long as such action does not adversely affect the interest of the Holders; or 

(vii) make any other provisions with respect to such matters or questions, so long as such action does not adversely
affect the interest of the Holders. 
 Section 9.02. Supplemental Agreements With Consent of Holders. With
the consent of the Holders of not less than a majority in number of the Outstanding Purchase Contracts, the Company, when authorized by a Board Resolution, the Purchase Contract Agent and the Trustee 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 Purchase Contracts; provided, however, that, except
as contemplated herein, no such supplemental agreement shall, without the consent of each Holder of an Outstanding Purchase Contract affected thereby: 
 (i) reduce the number of shares of Class A Common Stock deliverable upon settlement of the Purchase Contracts (except to the extent expressly provided in Section 5.01); 

(ii) change the Mandatory Settlement Date, the Early Settlement Right or the Fundamental Change Early Settlement Right;

 (iii) reduce the Redemption Amount or impair the right of any Holder to receive such amount if the Company
elects to redeem the Purchase Contracts in connection with a Merger Termination Redemption; 
 (iv) reduce the
above-stated percentage of Outstanding Purchase Contracts the consent of the Holders of which is required for the modification or amendment of the provisions of the Purchase Contracts or the Purchase Contract Agreement; or 

(v) impair the right to institute suit for the enforcement of the Purchase Contracts. 

It shall not be necessary for any consent of Holders under this Section to approve the particular form of any proposed supplemental
agreement, but it shall be sufficient if such consent shall approve the substance thereof. 
 Section 9.03.
Execution of Supplemental Agreements. In executing, or accepting the additional agencies created by, any supplemental agreement permitted by this Article or the modifications thereby of the agencies created by this Agreement, the Purchase
Contract Agent and Trustee shall be provided, and (subject to Section 8.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such supplemental agreement is
authorized or permitted by this Agreement and does not violate the 

  
 64 

 
Indenture, and that any and all conditions precedent to the execution and delivery of such supplemental agreement have been satisfied. The Purchase Contract Agent and Trustee may, but shall not
be obligated to, enter into any such supplemental agreement that affects the Purchase Contract Agent’s or Trustee’s own rights, duties or immunities under this Agreement or otherwise. 

Section 9.04. Effect of Supplemental Agreements. Upon the execution of any supplemental agreement under this Article,
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 Securities theretofore or thereafter authenticated on behalf of the Holders and
delivered hereunder, shall be bound thereby. 
 Section 9.05. Reference to Supplemental Agreements.
Securities authenticated on behalf of the Holders and delivered after the execution of any supplemental agreement pursuant to this Article 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 Securities so modified as to conform, in the opinion of the Purchase Contract Agent, the Trustee and the Company, to any
such supplemental agreement may be prepared and executed by the Company and authenticated on behalf of the Holders and delivered by the Purchase Contract Agent in exchange for outstanding Securities. 

Section 9.06. Notice of Supplemental Agreements. After any supplemental agreement under this Article becomes
effective, the Company shall mail to the Holders a notice briefly describing such supplemental agreement; provided, however, that the failure to give such notice to all Holders, or any defect therein, shall not impair or affect the
validity of such supplemental agreement. 
 ARTICLE 10 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR
LEASE 
 Section 10.01. Covenant Not to Consolidate, Merge, Convey, Transfer or Lease Property
Except Under Certain Conditions. The Company covenants that it will not merge with or into or consolidate with any other Person or sell, assign, transfer, lease or convey all or substantially all of its properties and assets to any Person or
entity, unless: 
 (i) the resulting, surviving or transferee entity (if not the Company) is a corporation or
limited liability company that is treated as a corporation for U.S. federal income tax purposes, organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, and such corporation or limited
liability company (if not the Company) expressly assumes in writing all of the Company’s obligations under the Units, the Purchase Contracts and this Agreement; 

(ii) immediately after the merger, consolidation, sale, assignment, transfer, lease or conveyance, no default has occurred
and is continuing under the Units, the Purchase Contracts or this Agreement; and 

  
 65 

 (iii) the Company has delivered to the Purchase Contract Agent the
Officer’s Certificate and Opinion of Counsel required under Section 10.03. 
 Section 10.02. Rights and
Duties of Successor Entity. In case of any such merger, consolidation, sale, assignment, transfer or conveyance (but not any such lease) and upon any such assumption by a successor entity in accordance with Section 10.01, such successor
entity shall succeed to and be substituted for the Company with the same effect as if it had been named herein as the Company. Such successor entity thereupon may cause to be signed, and may issue either in its own name or in the name of the
Company, any or all of the Securities evidencing Units or Purchase Contracts issuable hereunder which theretofor shall not have been signed by the Company and delivered to the Purchase Contract Agent; and, upon the order of such successor entity,
instead of the Company, and subject to all the terms, conditions and limitations in this Agreement prescribed, the Purchase Contract Agent and Trustee (if applicable) shall authenticate on behalf of the Holders and deliver any Securities that
previously shall have been signed and delivered by the officers of the Company to the Purchase Contract Agent and Trustee for authentication, and any Security evidencing Units or Purchase Contracts that such successor corporation thereafter shall
cause to be signed and delivered to the Purchase Contract Agent and Trustee for that purpose. All the Securities issued shall in all respects have the same legal rank and benefit under this Agreement as the Securities theretofor or thereafter issued
in accordance with the terms of this Agreement as though all of such Securities had been issued at the date of the execution hereof. 
 In the event of any such merger, consolidation, sale, assignment, transfer, lease or conveyance, such change in phraseology and form (but not in substance) may be made in the Securities evidencing Units
or Purchase Contracts thereafter to be issued as may be appropriate. 
 Section 10.03. Officers’ Certificate
and Opinion of Counsel Given to Purchase Contract Agent. The Purchase Contract Agent, subject to Section 8.01 and Section 8.03, shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such
merger, consolidation, sale, assignment, transfer, lease or conveyance, and any such assumption, complies with the provisions of this Article and that all conditions precedent to the consummation of any such merger, consolidation, sale, assignment,
transfer, lease or conveyance have been complied with. 
 ARTICLE 11 

COVENANTS OF THE COMPANY 

Section 11.01. Performance Under Purchase Contracts. The Company covenants and agrees for the benefit of the Holders
from time to time of the Units and Purchase Contracts that it will duly and punctually perform its obligations under the Units and Purchase Contracts in accordance with the terms of the Units and Purchase Contracts and this Agreement. 

Section 11.02. Maintenance of Office Or Agency. The Company will maintain in the Borough of Manhattan, New York City
or in Wilmington, Delaware an office or agency where Securities may be presented or surrendered, if required hereunder, for acquisition of shares of Class A Common Stock (and/or, in the case of a Merger Termination Redemption, any cash

  
 66 

 
included in the Redemption Amount) upon settlement or redemption of the Purchase Contracts on any Settlement Date, and where notices and demands to or upon the Company in respect of the Purchase
Contracts 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. 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 Securities 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, New York City or in Delaware 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 Purchase Contracts the Corporate Trust Office and
appoints the Purchase Contract Agent at its Corporate Trust Office as paying agent in such city. 

Section 11.03. Statements of Officers of the Company as to Default; Notice of Default. (a) The Company will
deliver to the Purchase Contract Agent, within 120 days after the end of each fiscal year of the Company (which as of the Issue Date is December 31) ending after the date hereof, an Officers’ Certificate (one of the signers of which shall
be the principal executive officer, principal financial officer or principal accounting officer of the Company), stating whether or not to the knowledge of the signers thereof the Company is in default in the performance and observance of any of the
terms, provisions and conditions hereof, and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge and what action the Company is taking or proposes to take with respect
thereto. 
 (b) The Company shall promptly deliver to the Purchase Contract Agent written notice of the occurrence of any
default in the performance and observance of any of the terms, provisions and conditions hereof and the status thereof. 

Section 11.04. Existence. The Company shall do or cause to be done all things necessary to preserve and keep in full
force and effect its existence in accordance with its organizational documents, and the material rights, licenses and franchises of the Company; provided that this Section 11.04 shall not prohibit any transaction otherwise permitted by
Article 10. 
 Section 11.05. Company to Reserve Class A Common Stock. The Company shall at all times
reserve and keep available out of its authorized but unissued Class A Common Stock, solely for issuance upon settlement or redemption of the Purchase Contracts, that number of shares of Class A Common Stock as shall from time to time be
issuable upon the settlement of all Outstanding Purchase Contracts (whether or not included in a Unit), assuming settlement at the Maximum Settlement Rate. 

  
 67 

 Section 11.06. Covenants as to Class A Common Stock. The Company
covenants that all shares of Class A Common Stock issuable upon settlement or redemption of any Outstanding Purchase Contract will, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, free from all taxes, liens and
charges and not subject to any preemptive rights. 
 The Company further covenants that, if at any time the Class A Common
Stock shall be listed on the NYSE or any other national securities exchange, the Company will, if permitted by the rules of such exchange, list and keep listed, so long as the Class A Common Stock shall be so listed on such exchange, all
Class A Common Stock issuable upon settlement or redemption of the Purchase Contracts; provided, however, that, if the rules of such exchange permit the Company to defer the listing of such Class A Common Stock until the
first delivery of Class A Common Stock upon settlement or redemption of Purchase Contracts in accordance with the provisions of this Agreement, the Company covenants to list such Class A Common Stock issuable upon settlement or redemption
of the Purchase Contracts in accordance with the requirements of such exchange at such time. 
 Section 11.07.
Tax Treatment. The Company agrees, and by purchasing a Unit each Beneficial Holder agrees, for all purposes, including United States federal income tax purposes, to (a) treat each Unit as an investment unit composed of two separate
instruments, in accordance with its form, (b) treat each Note as indebtedness of the Company and (c) in the case of each Beneficial Holder acquiring the Units at original issuance, allocate the Stated Amount of each Unit between the Note
and the Purchase Contract so that such Beneficial Holder’s initial tax basis in each Note will be $14.1023 and such Beneficial Holder’s initial tax basis in each Purchase Contract will be $85.8977. 

[SIGNATURES ON THE FOLLOWING PAGE] 

  
 68 

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

			
	GENESEE & WYOMING INC.
		
	By:	 	/s/ John C. Hellmann
		 	 Name: John C. Hellmann

		 	 Title: Chief Executive Officer

		
	By:	 	/s/ Allison Fergus
		 	 Name: Allison Fergus

		 	 Title: General Counsel and Secretary

  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Purchase Contract Agent
		
	By:	 	/s/ Joshua C. Jones
		 	 Name: Joshua C. Jones

		 	 Title: Banking Officer

  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee under the Indenture
		
	By:	 	/s/ Joshua C. Jones
		 	 Name: Joshua C. Jones

		 	 Title: Banking Officer

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Attorney-in-Fact of the Holders from time to time as provided under the Purchase Contract Agreement
		
	By:	 	/s/ Joshua C. Jones
		 	 Name: Joshua C. Jones

		 	 Title: Banking Officer

  
 70 

 EXHIBIT A 
 [FORM OF FACE OF UNIT] 
 [THIS SECURITY IS A GLOBAL UNIT WITHIN THE MEANING OF THE
PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN CERTIFICATED FORM, THIS
SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”) TO THE NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF
THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN
THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT 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 INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 

 

	*	 Include if a
Global Unit. 

  
 A-1

 GENESEE & WYOMING INC. 

5.00% TANGIBLE EQUITY UNITS 

CUSIP No.         371559 204 
 ISIN No.     US3715592040 
  

			
	No.     	 	[Initial]* Number of Units                 

 This Unit certifies that [CEDE & CO., as nominee of The Depository Trust
Company]*[        
    ]** (the
“Holder”), or registered assigns, is the registered owner of the number of Units set forth above[, or such other number of Units reflected in the books and records of the Depositary and the Purchase Contract Agent, in accordance
with the terms of the Purchase Contract Agreement (as defined below), but which number, taken together with the number of all other outstanding Units, shall not exceed 2,300,000 Units at any time]*. 

Each Unit consists of (i) a Purchase Contract issued by the Company, and (ii) a Note issued by the Company. Each Unit evidenced
hereby is governed by a Purchase Contract Agreement, dated as of September 19, 2012 (as may be supplemented from time to time, the “Purchase Contract Agreement”), among the Company, Wilmington Trust, National Association, as
Purchase Contract Agent and as attorney-in-fact for the Holders of Purchase Contracts from time to time (including its successors hereunder, the “Purchase Contract Agent”) and Wilmington Trust, National Association, as Trustee
(including its successors hereunder, the “Trustee”) under the Indenture. 
 Reference is hereby made to the
Purchase Contract Agreement and the Indenture and, in each case supplemental agreements thereto, for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract Agent, the
Trustee, the Company and the Holders and of the terms upon which the Units are, and are to be, executed and delivered. 
 Upon
the conditions and under the circumstances set forth in the Purchase Contract Agreement, Holders of Units shall have the right to separate a Unit into its component parts, and a Holder of a Separate Purchase Contract and Separate Note shall have the
right to re-create a Unit. 
  

	*	 Include only if a
Global Unit. 

	**	 Include only if
not a Global Unit. 

  
 A-2

 The Company agrees, and by purchasing a Unit each Beneficial Holder agrees, for United
States federal income tax purposes, to (1) treat each Unit as an investment unit composed of two separate instruments, in accordance with its form, (2) treat each Note as indebtedness of the Company and (3) in the case of each
Beneficial Holder acquiring the Units at original issuance, allocate the Stated Amount of each Unit between the Note and the Purchase Contract so that such Beneficial Holder’s initial tax basis in each Note will be $14.1023 and each such
Beneficial Holder’s initial tax basis in each Purchase Contract will be $85.8977. 
 The Units, and any claim,
controversy or dispute arising under or related to the Units, shall be governed by, and construed in accordance with, the laws of the State of New York. 
 Capitalized terms used herein and not defined have the meanings given to such terms in the Purchase Contract Agreement. 
 In the event of any inconsistency between the provisions of this Unit and the provisions of the Purchase Contract Agreement, the Purchase Contract Agreement shall prevail. 

[SIGNATURES ON THE FOLLOWING PAGE] 

  
 A-3

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated:                      

 

			
	GENESEE & WYOMING INC.
		
	By:	 	 
		 	 Name:

		 	 Title:

		
	By:	 	 
		 	 Name:

		 	 Title:

  
 A-4

 
					
	REGISTERED HOLDER(S) (as to obligations of such holder(s) under the Purchase Contracts included in the Units evidenced hereby)
		
	By:	 	Wilmington Trust, National Association, not individually but solely as Attorney-in-Fact of such holder(s)
		
	By: 	 	 
		 	Name: 	 	
		 	Title:	 	

  
 A-5

 UNIT CERTIFICATE OF AUTHENTICATION 

OF PURCHASE CONTRACT AGENT AND TRUSTEE UNDER THE 
 INDENTURE 
 This is one of the Units referred to in the within mentioned Purchase
Contract Agreement. 
 Dated:
                     
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Purchase Contract Agent
		
	By:	 	 
		 	 Authorized Signatory

  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee under the Indenture
		
	By:	 	 
		 	 Authorized Signatory

  
 A-6

 [FORM OF REVERSE OF UNIT] 

[Intentionally Blank] 

  
 A-7

 ATTACHMENT 1 
 [FORM OF SEPARATION NOTICE] 
 Wilmington Trust, National Association 

[Rodney Square North 
 1100 North Market Street

 Wilmington, DE 19890 – 1600 

Facsimile: 302-636-4145] 
 Attention: Corporate
Client Services 
 Re: Separation of [Global]* Units 
 The undersigned [Beneficial Holder]* hereby notifies you that it wishes to separate              Units [as to which it holds a Book-Entry Interest]* (the “Relevant Units”) into a number of Notes equal
to the number of Relevant Units and a number of Purchase Contracts equal to the number of Relevant Units in accordance with the Purchase Contract Agreement (the “Purchase Contract Agreement”) dated September 19, 2012 among the
Company, Wilmington Trust, National Association, as Purchase Contract Agent and as attorney-in-fact for the Holders of Purchase Contracts from time to time and Wilmington Trust, National Association, as Trustee under the Indenture. Terms used and
not defined herein have the meaning assigned to such terms in the Purchase Contract Agreement. 
 The undersigned [includes
herewith]** [Beneficial Holder has instructed the
undersigned Depository Participant to transfer to you its Book-Entry Interests in]* the number of Units specified in the immediately succeeding paragraph. The undersigned [includes herewith]** [Beneficial Holder has furnished the undersigned Depository Participant with]* the appropriate endorsements and documents and paid all applicable
transfer or similar taxes, if any, to the extent required by the Purchase Contract Agreement. 
 Please [deliver to the
undersigned’s address specified below]** [transfer to
the account of the undersigned Beneficial Holder with the undersigned Depositary Participant the beneficial interests
in]* (i) the number of Separate Notes and
(ii) number of Separate Purchase Contracts represented by the number of Units specified above. 
 [SIGNATURES ON THE
FOLLOWING PAGE] 
  

	*	 Include only if a
Global Unit. 

	**	 Include only if
not a Global Unit. 

  
 A-8

 IN WITNESS WHEREOF, the [undersigned has caused this instrument to be
duly executed]** [Depository Participant has caused this
instrument to be duly executed on behalf of itself and the undersigned Beneficial Holder]*. 
 Dated:
                     
  

			
	[NAME OF BENEFICIAL HOLDER]
		
	By:	 	 
		 	Name:
		 	 Title:

		 	 Address:

  

			
	[NAME OF DEPOSITORY
PARTICIPANT]*
		
	By:	 	 
		 	Name:
		 	 Address:

 Attest By: 

 

	*	 Include only if a
Global Unit. 

	**	 Include only if
not a Global Unit. 

  
 A-9

 ATTACHMENT 2 
 [FORM OF RECREATION NOTICE] 
 Wilmington Trust, National Association 

[Rodney Square North 
 1100 North Market Street

 Wilmington, DE 19890 – 1600 

Facsimile: 302-636-4145] 
 Attention: Corporate
Client Services 
 Re: Recreation of [Global]* Units 
 The undersigned [Beneficial Holder]* hereby notifies you that it wishes to recreate              Units [as to which it holds a Book-Entry Interest]* (the “New Units”) from a number of Separate Notes
equal to the number of New Units and a number of Separate Purchase Contracts equal to the number of New Units in accordance with the Purchase Contract Agreement (the “Purchase Contract Agreement”) dated as of September 19, 2012
among the Company, Wilmington Trust, National Association, as Purchase Contract Agent and as attorney-in-fact for the Holders of Purchase Contracts from time to time and Wilmington Trust, National Association, as Trustee under the Indenture. Terms
used and not defined herein have the meaning assigned to such terms in the Purchase Contract Agreement. 
 The undersigned
[includes herewith]** [Beneficial Holder has instructed
the undersigned Depository Participant to transfer to you its Book-Entry Interests in]* the applicable number of Separate Notes and the applicable number of Separate Purchase Contracts sufficient for the recreation of the number of Units specified above. The undersigned [includes
herewith]** [Beneficial Holder has furnished the
undersigned Depository Participant with]* the appropriate
endorsements and documents and paid all applicable transfer or similar taxes, if any, to the extent required by the Purchase Contract Agreement. 
 Please [deliver to the undersigned’s address specified
below]** [transfer to the account of the undersigned
Beneficial Holder with the undersigned Depositary Participant the beneficial interests in]* the number of Units specified above. 
 [SIGNATURES ON THE FOLLOWING PAGE]

  

	*	 Include only if a
Global Unit. 

	**	 Include only if
not a Global Unit. 

  
 A-10

 IN WITNESS WHEREOF, the [undersigned has caused this instrument to be
duly executed]** [Depository Participant has caused this
instrument to be duly executed on behalf of itself and the undersigned Beneficial Holder]*. 
 Dated:
                     
  

			
	[NAME OF BENEFICIAL HOLDER]
		
	By:	 	 
		 	Name:
		 	 Title:

		 	 Address:

  

			
	[NAME OF DEPOSITORY
PARTICIPANT]*
		
	By:	 	 
		 	Name:
		 	 Address:

 Attest By: 

 

	*	 Include only if a
Global Unit. 

	**	 Include only if
not a Global Unit. 

  
 A-11

 ATTACHMENT 3 
 GENESEE & WYOMING INC. 
 PURCHASE CONTRACTS 

 

			
	No.         	 	Initial Number of Purchase Contracts:             

 This Purchase Contract certifies that, Wilmington Trust, National Association, as attorney-in-fact of
holder(s) of the Purchase Contracts evidenced hereby, or its registered assigns (the “Holder”) is the registered owner of the number of Purchase Contracts set forth above, or such other number of Purchase Contracts reflected in the
books and records of the Depositary and the Purchase Contract Agent, in accordance with the terms of the Purchase Contract Agreement (as defined below), but which number of Purchase Contracts, taken together with the number of all other Outstanding
Purchase Contracts, shall not exceed 2,300,000 Purchase Contracts at any time. 
 Each Purchase Contract consists of the rights
of the Holder under such Purchase Contract with the Company. All capitalized terms used herein which are defined in the Purchase Contract Agreement (as defined on the reverse hereof) have the meaning set forth therein. 

Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this Purchase Contract on the Mandatory
Settlement Date a number shares of Class A common stock, $0.01 par value (“Class A Common Stock”), of the Company equal to the Settlement Rate, unless such Purchase Contract has settled or been redeemed prior to the Mandatory
Settlement Date, all as provided in the Purchase Contract Agreement and more fully described on the reverse hereof. 
 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. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  
 A-12

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	GENESEE & WYOMING INC.
		
	 By:
	 	 
		 	 Name:

		 	 Title:

		
	 By:
	 	 
		 	 Name:

		 	 Title:

 Dated:
                                     

  
 A-13

 
			
	REGISTERED HOLDER(S) (as to obligations of such holder(s) under the Purchase Contracts evidenced hereby)
		
	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not individually but solely as Attorney-in-Fact of such holder(s)
		
	By:	 	 
		 	Name:
		 	Title:

  
 A-14

 PURCHASE CONTRACT CERTIFICATE OF AUTHENTICATION OF 

PURCHASE CONTRACT AGENT 
 This is one of the Purchase Contracts referred to in the within-mentioned Purchase Contract Agreement. 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Purchase Contract Agent
		
	By:	 	 
		 	Authorized Signatory

 Dated:
                         

  
 A-1

 [REVERSE OF PURCHASE CONTRACT] 

Each Purchase Contract evidenced hereby is governed by a Purchase Contract Agreement, dated as of September 19, 2012 (as may be
supplemented from time to time, the “Purchase Contract Agreement”), among Genesee & Wyoming Inc., a Delaware corporation (the “Company”), Wilmington Trust, National Association, as Purchase Contract Agent
and as attorney-in-fact for the Holders of Purchase Contracts from time to time (including its successors hereunder, the “Purchase Contract Agent”) and Wilmington Trust, National Association, as Trustee under the Indenture.
Reference is hereby made to the Purchase Contract Agreement and supplemental agreements thereto for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract Agent, the
Company and the Holders and of the terms upon which the Purchase Contracts are, and are to be, executed and delivered. 
 Each
Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this Purchase Contract, on the Mandatory Settlement Date, a number of shares of Class A Common Stock equal to the Settlement Rate, unless such Purchase
Contract has settled or been redeemed prior to the Mandatory Settlement Date, in either case, pursuant to the terms of the Purchase Contract Agreement. 
 No fractional shares of Class A Common Stock will be issued upon settlement or redemption of Purchase Contracts, as provided in Section 4.13 of the Purchase Contract Agreement. 

The Purchase Contracts are issuable only in registered form and only in denominations of a single Purchase Contract and any integral
multiple thereof. The transfer of any Purchase Contract will be registered and Purchase Contracts may be exchanged as provided in the Purchase Contract Agreement. 
 The Purchase Contracts are initially being issued as part of the 5.00% Tangible Equity Units (the “Units”) issued by the Company pursuant to the Purchase Contract Agreement. Holders of
the Units have the right to separate such Units into their constituent parts, consisting of Separate Notes and Separate Purchase Contracts, during the times, and under the circumstances, described in the Purchase Contract Agreement. Following
separation of any Unit into its constituent parts, the Separate Purchase Contracts are transferable independently from the Separate Notes. In addition, Separate Purchase Contracts can be recombined with Separate Notes to recreate Units, as provided
for in the Purchase Contract Agreement. 
 The Holder of this Purchase Contract, by its acceptance hereof, authorizes the
Purchase Contract Agent to enter into and perform the Purchase Contract Agreement on its behalf as its attorney-in-fact and agrees to be bound by the terms and provisions thereof. 

  
 A-2

 Subject to certain exceptions set forth in the Purchase Contract Agreement, the provisions
of the Purchase Contract Agreement may be amended with the consent of the Holders of a majority of the Purchase Contracts. 

The Purchase Contracts, and any claim, controversy or dispute arising under or related to the Purchase Contracts, shall be governed
by, and construed in accordance with, the laws of the State of New York. 
 The Company and the Purchase Contract Agent
hereby waive their respective rights to trial by jury in any action or proceeding arising out of or related to the Purchase Contract Agreement, the Purchase Contracts or the transactions contemplated thereby, to the extent permitted by law.

 The Company, the Purchase Contract Agent, and any agent of the Company or the Purchase Contract Agent, may treat the
Person in whose name this Purchase Contract is registered as the owner of the Purchase Contracts, evidenced hereby, for the purpose of performance of the Purchase Contracts evidenced by such Purchase Contracts and for all other purposes whatsoever,
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. 
 The Purchase Contracts shall not entitle the Holder to any of the rights of a holder of the Class A Common Stock or other Exchange Property, except as provided by the Purchase Contract Agreement.

 Each Purchase Contract (whether or not included in a Unit) is a security governed by Article 8 of the Uniform Commercial Code
as in effect in the State of New York on the date hereof. 
 A copy of the Purchase Contract Agreement is available for
inspection at the offices of the Company. 
 In the event of any inconsistency between the provisions of this Purchase Contract
and the provisions of the Purchase Contract Agreement, the Purchase Contract Agreement shall prevail. 

  
 A-3

 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:
 UNIF GIFT MIN
ACT:
	  	 as tenants in common

 
	  	Custodian
                              

		  	(cust)	  	                   (minor)
		  	Under Uniform Gifts to Minors
		  	Act
of                                        
                                         
                           
		
		  	  

	 TENANT:
 JT
TEN:
	  	 as tenants by the entireties
 as joint tenants with rights 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 Purchase Contracts and all rights thereunder, hereby
irrevocably constituting and appointing attorney , to transfer said Purchase Contracts on the books of the Company 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 Purchase Contracts in every particular, without
alteration or enlargement or any change whatsoever.

 Signature Guarantee:
                                        

  
 A-4

 SETTLEMENT INSTRUCTIONS 

The undersigned Holder directs that a certificate for shares of Class A Common Stock or other securities, as applicable, deliverable
upon settlement or redemption of the number of Purchase Contracts evidenced by this Purchase Contract be registered in the name of, and delivered, together with a check in payment for any fractional share (or cash included in the Redemption Amount,
if applicable), to the undersigned at the address indicated below unless a different name and address have been indicated below. If shares of Class A Common Stock or other securities, as applicable, are to be registered in the name of a Person
other than the undersigned, the undersigned will pay any transfer tax payable incidental thereto, as provided in the Purchase Contract Agreement. 
  

							
		 		 	
				
	Dated:
                                	 		 		 	 
		 		 		 	Signature
		 		 		 	 Signature
Guarantee:                    
 (if
assigned to another Person)

 If shares are to be registered in the name of and delivered to (or cash is to be paid to) a Person other than the Holder,
please (i) print such Person’s name and address and (ii) provide a guarantee of your signature: 
  

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

  
 A-5

 ELECTION TO SETTLE EARLY 

The undersigned Holder of this Purchase Contract hereby irrevocably exercises the option to effect Early Settlement (which Early
Settlement may, as applicable, be deemed to be in connection with a Fundamental Change pursuant to Section 4.07 of the Purchase Contract Agreement) in accordance with the terms of the Purchase Contract Agreement with respect to the Purchase
Contracts evidenced by this Purchase Contract as specified below. The undersigned Holder directs that a certificate for shares of Class A Common Stock or other securities, as applicable, deliverable upon such Early Settlement be registered in
the name of, and delivered, together with a check in payment for any fractional share and any Purchase Contract representing any Purchase Contracts evidenced hereby as to which Early Settlement is not effected, to the undersigned at the address
indicated below unless a different name and address have been indicated below. If shares of Class A Common Stock or other securities, as applicable, are to be registered in the name of a Person other than the undersigned, the undersigned will
pay any transfer tax payable incident thereto, as provided in the Purchase Contract Agreement. 
  

							
				
	Dated:
                                    	 		 		 	 
		 		 		 	Signature
	Signature Guarantee:
                                         
               	 	

  
 A-6

 Number of Purchase Contracts evidenced hereby as to which Early Settlement is being elected:

  

							
	If shares of Class A Common Stock or Purchase Contracts are to be registered in the name of and delivered 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

	 	 		 		 	 
	 	 		 		 	 
	 Social Security or other Taxpayer
 Identification Number, if any
	 		 	  

  
 A-7

 ATTACHMENT 4 
 GENESEE & WYOMING INC. 
 4.50% SENIOR AMORTIZING NOTES DUE 2015 

 

			
	 No.         
	  	Initial Number of Notes:             

 GENESEE & WYOMING INC., a Delaware corporation (the “Company”, which term
includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to Wilmington Trust, National Association, as attorney-in-fact of holder(s) of the Notes evidenced hereby, or its registered assigns (the
“Holder”), the initial principal amount of $14.1023 for each of the number of Notes set forth above, or such other number of Notes reflected in the books and records of the Depositary and the Trustee, in accordance with the terms of
the Indenture, but which number of Notes, taken together with the number of all other outstanding Notes, shall not exceed 2,300,000 Notes at any time, in equal quarterly installments of $1.25 per Note (except for the January 1, 2013
installment, which shall be $1.4167 per Note) (each such payment, an “Installment Payment,” constituting a payment of interest at the rate per year of 4.50% and a partial repayment of principal) payable on each
January 1, April 1, July 1 and October 1 commencing on January 1, 2013 (each such date, an “Installment Payment Date” and the period from, and including, September 19, 2012 to, but excluding,
the first Installment Payment Date and each subsequent full quarterly period from, and including, an Installment Payment Date to, but excluding, the immediately succeeding Installment Payment Date, an “Installment Payment Period”),
all as set forth on the reverse hereof, with the final Installment Payment due and payable on October 1, 2015. 
 The
Installment Payment on any Installment Payment Date shall be computed on the basis of a 360-day year consisting of twelve 30-day months. If an Installment Payment for any period shorter or longer than a full Installment Payment Period, such
Installment Payment shall be computed on the basis of the actual number of days elapsed per 30-day month. In the event that any Installment Payment Date is not a Business Day, then payment of the Installment Payment on such date will be made on the
next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. However, if such Business Day is in the next succeeding calendar year, then such installment payment shall be made on the immediately
preceding Business Day, in each case with the same force and effect as if made on the date when such Installment Payment was originally due. Installment Payments shall be paid to the Person in whose name the Note is registered at the close of
business on December 15, March 15, June 15 and September 15, as applicable (each, a “Regular Record 

  
 A-8

 
Date”). Installment Payments shall be payable at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York or in Wilmington,
Delaware; provided, however, that payment of Installment Payments may be made at the option of the Company by check mailed to the registered Holder at such address as shall appear in the Security Register or by wire transfer to an
account appropriately designated by the Holder entitled to payment. 
 This Note shall not be entitled to any benefit under the
Indenture hereinafter referred to or be valid or obligatory for any purpose until the Certificate of Authentication shall have been manually signed by or on behalf of the Trustee. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the
same effect as if set forth at this place. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  
 A-9

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated:                      

 

			
	GENESEE & WYOMING INC.
		
	 By:
	 	 
		 	 Name:

		 	 Title:

 

			
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	CERTIFICATE OF AUTHENTICATION
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee, certifies that this is one of the Notes of the series designated herein referred to in the within mentioned
Indenture.
	
	Dated:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	 By:
	 	 
		 	 Authorized Signatory

  
 A-10

 REVERSE OF NOTE 
 GENESEE & WYOMING INC. 
 4.50% Senior Amortizing Notes due 2015 

This Note is one of a duly authorized series of Securities of the Company designated as its 4.50% Senior Amortizing Notes due 2015
(herein sometimes referred to as the “Notes”), issued under the Indenture, dated as of September 19, 2012, between the Company and Wilmington Trust, National Association, as trustee (the “Trustee,” which term
includes any successor trustee under the Indenture) (including any provisions of the TIA that are deemed incorporated therein) (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of
September 19, 2012 (the “First Supplemental Indenture”), between the Company and the Trustee (the Base Indenture and, as supplemented by the First Supplemental Indenture, the “Indenture”), to which Indenture
reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders. The terms of other series of Securities issued under the Base Indenture may
vary with respect to interest rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided in the Base Indenture. The Indenture further provides that securities of a single series may be issued at various times,
with different maturity dates and may bear interest at different rates. This series of Securities is limited in initial aggregate principal amount as specified in the First Supplemental Indenture. 

Each Installment Payment shall constitute a payment of interest (at an annual rate of 4.50%) and a partial repayment of principal on the
Note, allocated as set forth in the schedule below: 
  

									
	 Installment Payment Date
	  	Amount of Principal	 	  	Amount of Interest	 
	 January 1, 2013
	  	$	1.2369	  	  	$	0.1798	  
	 April 1, 2013
	  	$	1.1053	  	  	$	0.1447	  
	 July 1, 2013
	  	$	1.1177	  	  	$	0.1323	  
	 October 1, 2013
	  	$	1.1303	  	  	$	0.1197	  
	 January 1, 2014
	  	$	1.1430	  	  	$	0.1070	  
	 April 1, 2014
	  	$	1.1558	  	  	$	0.0942	  
	 July 1, 2014
	  	$	1.1689	  	  	$	0.0811	  
	 October 1, 2014
	  	$	1.1820	  	  	$	0.0680	  
	 January 1, 2015
	  	$	1.1953	  	  	$	0.0547	  
	 April 1, 2015
	  	$	1.2087	  	  	$	0.0413	  
	 July 1, 2015
	  	$	1.2223	  	  	$	0.0277	  
	 October 1, 2015
	  	$	1.2361	  	  	$	0.0139	  

  
 A-11

 The Notes shall not be subject to redemption at the option of the Company. However, a Holder
shall have the right to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note and on the Repurchase Date, upon the occurrence of certain events and subject to the conditions set forth in the Indenture.

 This Note is not entitled to the benefit of any sinking fund. The Indenture contains provisions for defeasance and covenant
defeasance at any time of the indebtedness on this Note upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 
 If an Event of Default with respect to the Notes shall occur and be continuing, then (unless no declaration of acceleration or notice is required for such Event of Default) either the Trustee or the
Holders of not less than 25% in principal amount of the Notes then outstanding may declare all future, scheduled Installment Payments to be due and payable immediately, in the manner, subject to the conditions and with the effect provided in the
Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee, with the consent
of the Holders of not less than a majority in principal amount of the Securities at the time outstanding, to execute supplemental indentures for certain purposes as described therein. 

No provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay Installment Payments on this Note or the Repurchase Price (if applicable) at the time, place and rate, and in the coin or currency, herein and in the Indenture prescribed. 

The Notes are originally being issued as part of the 5.00% Tangible Equity Units (the “Units”) issued by the Company
pursuant to that certain Purchase Contract Agreement, dated as of September 19, 2012, among the Company, Wilmington Trust, National Association, as Purchase Contract Agent and as attorney-in-fact for the holders of Purchase Contracts from time
to time and Wilmington Trust, National Association, as Trustee under the Indenture (the “Purchase Contract Agreement”). Holders of the Units have the right to separate such Units into their constituent parts, consisting of Separate
Purchase Contracts (as defined in the Purchase Contract Agreement) and Separate Notes, during the times, and under the circumstances, described in the Purchase Contract Agreement. Following separation of any Unit into its constituent Separate Note
and Separate Purchase Contract, the Separate Notes are transferable independently from the Separate Purchase Contracts. In addition, Separate Notes can be recombined with Separate Purchase Contracts to recreate Units, as provided for in the Purchase
Contract Agreement. Reference is hereby made to the Purchase Contract Agreement for a more complete description of the terms thereof applicable to the Units and Notes. 

  
 A-12

 As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note shall be registered on the Security Register of the Company, upon due presentation of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York or in
Wilmington, Delaware, duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or by his attorney duly authorized in writing, and
thereupon the Company shall execute and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Note or Notes in authorized denominations and for a like aggregate principal amount. 

The Notes are initially issued in registered, global form without coupons in denominations initially equal to $14.1023 and integral
multiples in excess thereof. 
 The Company or Trustee may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer of this Note. No service charge shall be made for any such transfer or for any exchange of this Note as contemplated by the Indenture. 

The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person in whose name this Note is registered
upon the Security Register for the Notes as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of
the principal of and, subject to the provisions of the Indenture, interest, if any, on this Note and for all other purposes; and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the
contrary. 
 This Note and the Indenture, and any claim, controversy or dispute arising under or related to the Indenture or
this Note, shall for all purposes be governed by, and construed in accordance with, the laws of the State of New York. 

The Company and the Trustee hereby waive their respective rights to trial by jury in any action or proceeding arising out of or
related to the Indenture, the Notes or the transactions contemplated thereby, to the extent permitted by law. 
 Capitalized
terms used but not defined in this Note shall have the meanings ascribed to such terms in the Indenture. 
 No recourse shall be
had for the payment of any Installment Payment on this Note, or for any claim based hereon, or upon any obligation, covenant or agreement of the Company in the Indenture, against any incorporator, stockholder, officer or director, past, present or
future of the Company or of any predecessor or 

  
 A-13

 
successor, either directly or through the Company or of any successor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment of penalty or
otherwise; and all such personal liability is expressly released and waived as a condition of, and as part of the consideration for, the issuance of this Note. 
 The Company and each Holder agrees, for United States federal income tax purposes, to treat the Notes as indebtedness of the Company. 

In the event of any inconsistency between the provisions of this Note and the provisions of the Indenture, the Indenture shall prevail.

  
 A-14

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 
 (Insert assignee’s
social security or tax identification number) 
 (Insert address and zip code of assignee) and irrevocably appoints 

agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her. 

Date:                      

Signature: 
 Signature Guarantee: 
 (Sign exactly as your name appears on the other side of this
Note) 

  
 A-15

 SIGNATURE GUARANTEE 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security
Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 
  

			
	 By:
	 	 
		 	 Name:

		 	 Title:

	
	 
	 as Trustee

  

			
	 By:
	 	 
		 	 Name:

		 	 Title:

 Attest 
  

			
	 By:
	 	 
		 	 Name:

		 	 Title:

  

  
 A-16

 [FORM OF REPURCHASE NOTICE] 

 

	TO:	GENESEE & WYOMING INC. 

WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee 
 The undersigned registered Holder hereby irrevocably acknowledges receipt of a notice from Genesee & Wyoming Inc. (the “Company”) regarding the right of Holders to elect to
require the Company to repurchase the Notes and requests and instructs the Company to pay, for each Note designated below, the Repurchase Price for such Note (determined as set forth in the Indenture), in accordance with the terms of the Indenture
and the Notes, to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. The Notes shall be repurchased by the Company as of the Repurchase Date pursuant to the
terms and conditions specified in the Indenture. 
 Dated:
                     
  

			
		
	Signature:	 	 
	 	 	 

 NOTICE: The above signature of the Holder hereof must correspond with the name as written upon the
face of the Notes in every particular without alteration or enlargement or any change whatever. 
 Notes Certificate Number (if applicable):
                     
 Number of
Notes to be repurchased (if less than all, must be one Note or integral multiples in excess thereof):                      

Social Security or Other Taxpayer Identification Number:
                     

  
 A-17

 EXHIBIT B 
 [FORM OF FACE OF PURCHASE CONTRACT] 
 [THIS SECURITY IS A GLOBAL PURCHASE CONTRACT
WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES
IN CERTIFICATED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”) TO THE NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT 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 INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.]* 

 
  

	* 	 Include only if a Global Purchase Contract. 

  
 B-1

 GENESEE & WYOMING INC. 

PURCHASE CONTRACTS 
 CUSIP No.
     371559 113 
 ISIN No.   US3715591133 

			
	 No.         
	  	[Initial]* Number of Purchase Contracts:             

 This Purchase Contract certifies that [CEDE & CO., as nominee of The
Depository Trust Company]*
[            ]**, or its registered assigns (the “Holder”) is the registered owner of the number of Purchase Contracts set forth above[, or such other number of Purchase Contracts reflected in the
books and records of the Depositary and the Purchase Contract Agent, in accordance with the terms of the Purchase Contract Agreement (as defined below), but which number of Purchase Contracts, taken together with the number of all other Outstanding
Purchase Contracts, shall not exceed 2,300,000 Purchase Contracts at any time]*. 
 Each Purchase Contract consists of the rights of the Holder under such
Purchase Contract with the Company. All capitalized terms used herein which are defined in the Purchase Contract Agreement (as defined on the reverse hereof) have the meaning set forth therein. 

Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this Purchase Contract on the Mandatory
Settlement Date a number shares of Class A common stock, $0.01 par value (“Class A Common Stock”), of the Company equal to the Settlement Rate, unless such Purchase Contract has settled or been redeemed prior to the Mandatory
Settlement Date, all as provided in the Purchase Contract Agreement and more fully described on the reverse hereof. 
 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. 
 [SIGNATURES ON THE FOLLOWING PAGE] 
  

 

	*	 Include only if a
Global Purchase Contract. 

	**	 Include only if
not a Global Purchase Contract. 

  
 B-2

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	 GENESEE & WYOMING INC.

		
	 By:
	 	 
		 	 Name:

		 	 Title:

		
	 By:
	 	 
		 	 Name:

		 	 Title:

 Dated:
                     

  
 B-3

 
			
	REGISTERED HOLDER(S) (as to obligations of such holder(s) under the Purchase Contracts evidenced hereby)
		
	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not individually but solely as Attorney-in-Fact of such holder(s)
		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

  
 B-4

 PURCHASE CONTRACT CERTIFICATE OF AUTHENTICATION OF 

PURCHASE CONTRACT AGENT 
 This is one of the Purchase Contracts referred to in the within-mentioned Purchase Contract Agreement. 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Purchase Contract Agent
		
	 By:
	 	 
		 	 Authorized Signatory

 Dated:
                     

  
 B-5

 [REVERSE OF PURCHASE CONTRACT] 

Each Purchase Contract evidenced hereby is governed by a Purchase Contract Agreement, dated as of September 19, 2012 (as may be
supplemented from time to time, the “Purchase Contract Agreement”), among Genesee & Wyoming Inc., a Delaware corporation (the “Company”), Wilmington Trust, National Association, as Purchase Contract Agent
and as attorney-in-fact for the Holders of Purchase Contracts from time to time (including its successors hereunder, the “Purchase Contract Agent”) and Wilmington Trust, National Association, as Trustee under the Indenture.
Reference is hereby made to the Purchase Contract Agreement and supplemental agreements thereto for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract Agent, the
Company and the Holders and of the terms upon which the Purchase Contracts are, and are to be, executed and delivered. 
 Each
Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this Purchase Contract, on the Mandatory Settlement Date, a number of shares of Class A Common Stock equal to the Settlement Rate, unless such Purchase
Contract has settled or been redeemed prior to the Mandatory Settlement Date, in either case, pursuant to the terms of the Purchase Contract Agreement. 
 No fractional shares of Class A Common Stock will be issued upon settlement or redemption of Purchase Contracts, as provided in Section 4.13 of the Purchase Contract Agreement. 

The Purchase Contracts are issuable only in registered form and only in denominations of a single Purchase Contract and any integral
multiple thereof. The transfer of any Purchase Contract will be registered and Purchase Contracts may be exchanged as provided in the Purchase Contract Agreement. 
 The Purchase Contracts are initially being issued as part of the 5.00% Tangible Equity Units (the “Units”) issued by the Company pursuant to the Purchase Contract Agreement. Holders of
the Units have the right to separate such Units into their constituent parts, consisting of Separate Notes and Separate Purchase Contracts, during the times, and under the circumstances, described in the Purchase Contract Agreement. Following
separation of any Unit into its constituent parts, the Separate Purchase Contracts are transferable independently from the Separate Notes. In addition, Separate Purchase Contracts can be recombined with Separate Notes to recreate Units, as provided
for in the Purchase Contract Agreement. 
 The Holder of this Purchase Contract, by its acceptance hereof, authorizes the
Purchase Contract Agent to enter into and perform the Purchase Contract Agreement on its behalf as its attorney-in-fact and agrees to be bound by the terms and provisions thereof. 

  
 B-6

 Subject to certain exceptions set forth in the Purchase Contract Agreement, the provisions
of the Purchase Contract Agreement may be amended with the consent of the Holders of a majority of the Purchase Contracts. 

The Purchase Contracts, and any claim, controversy or dispute arising under or related to the Purchase Contracts, shall be governed
by, and construed in accordance with, the laws of the State of New York. 
 The Company and the Purchase Contract Agent
hereby waive their respective rights to trial by jury in any action or proceeding arising out of or related to the Purchase Contract Agreement, the Purchase Contracts or the transactions contemplated thereby, to the extent permitted by law.

 The Company, the Purchase Contract Agent, and any agent of the Company or the Purchase Contract Agent, may treat the
Person in whose name this Purchase Contract is registered as the owner of the Purchase Contracts, evidenced hereby, for the purpose of performance of the Purchase Contracts evidenced by such Purchase Contracts and for all other purposes whatsoever,
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. 
 The Purchase Contracts shall not entitle the Holder to any of the rights of a holder of the Class A Common Stock or other Exchange Property, except as provided by the Purchase Contract Agreement.

 Each Purchase Contract (whether or not included in a Unit) is a security governed by Article 8 of the Uniform Commercial Code
as in effect in the State of New York on the date hereof. 
 A copy of the Purchase Contract Agreement is available for
inspection at the offices of the Company. 
 In the event of any inconsistency between the provisions of this Purchase Contract
and the provisions of the Purchase Contract Agreement, the Purchase Contract Agreement shall prevail. 

  
 B-7

 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 MIN ACT:
	  		  	Custodian	  	
		  	  
	  		  	  

		  	(cust)	  		  	  (minor)
		  	Under Uniform Gifts to Minors
		  	Act of	  	
		  		  	  

		
		  	  

	 TENANT:
	  	as tenants by the entireties
	 JT TEN:
	  	as joint tenants with rights 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 Purchase Contracts and all rights thereunder, hereby
irrevocably constituting and appointing attorney                     , to transfer said Purchase Contracts on the books of the Company 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 Purchase Contracts in every particular, without
alteration or enlargement or any change whatsoever.
		 		 		 	

 Signature Guarantee:
                     

  
 B-8

 SETTLEMENT INSTRUCTIONS 

The undersigned Holder directs that a certificate for shares of Class A Common Stock or other securities, as applicable, deliverable
upon settlement or redemption of the number of Purchase Contracts evidenced by this Purchase Contract be registered in the name of, and delivered, together with a check in payment for any fractional share (or cash included in the Redemption Amount,
if applicable), to the undersigned at the address indicated below unless a different name and address have been indicated below. If shares of Class A Common Stock or other securities, as applicable, are to be registered in the name of a Person
other than the undersigned, the undersigned will pay any transfer tax payable incidental thereto, as provided in the Purchase Contract Agreement. 
  

							
	Dated:                     	 		 		 	 
		 		 		 	Signature
		 		 		 	Signature Guarantee:                     
		 		 		 	(if assigned to another Person)

 If shares are to be registered in the name of and delivered to (or cash is to be paid to) a Person other than the Holder,
please (i) print such Person’s name and address and (ii) provide a guarantee of your signature: 
  

							
	 	 		 		 	 
	Name	 		 		 	Name
		 		 		 	
	 Address
	 		 		 	 Address

	 	 		 		 	 
				
	 	 		 		 	 
	 Social Security or other Taxpayer

Identification Number, if any
	 		 	  

  
 B-9

 ELECTION TO SETTLE EARLY 

The undersigned Holder of this Purchase Contract hereby irrevocably exercises the option to effect Early Settlement (which Early
Settlement may, as applicable, be deemed to be in connection with a Fundamental Change pursuant to Section 4.07 of the Purchase Contract Agreement) in accordance with the terms of the Purchase Contract Agreement with respect to the Purchase
Contracts evidenced by this Purchase Contract as specified below. The undersigned Holder directs that a certificate for shares of Class A Common Stock or other securities, as applicable, deliverable upon such Early Settlement be registered in
the name of, and delivered, together with a check in payment for any fractional share and any Purchase Contract representing any Purchase Contracts evidenced hereby as to which Early Settlement is not effected, to the undersigned at the address
indicated below unless a different name and address have been indicated below. If shares of Class A Common Stock or other securities, as applicable, are to be registered in the name of a Person other than the undersigned, the undersigned will
pay any transfer tax payable incident thereto, as provided in the Purchase Contract Agreement. 
  

							
	Dated:                     	 		 		 	 
		 		 		 	Signature
				
	 Signature Guarantee:
                    
	 		 		 	

  
 B-10

 Number of Purchase Contracts evidenced hereby as to which Early Settlement is being elected:

  

					
	If shares of Class A Common Stock or Purchase Contracts are to be registered in the name of and delivered 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
	 	 		 	 
			
	 	 		 	 
	 Social Security or other Taxpayer

Identification Number, if any
	 		 	 

  
 B-11

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