Document:

EX-10.12

 Exhibit 10.12 

APOLLOMICS INC. 
 2023
INCENTIVE AWARD PLAN 
 1. Establishment of the Plan; Effective Date; Duration. 

(a) Establishment of the Plan; Effective Date. Apollomics Inc., a Cayman Islands exempted company (the
“Company”), hereby establishes this incentive compensation plan to be known as the “Apollomics Inc. 2023 Incentive Award Plan,” as amended from time to time (the “Plan”). The Plan permits the grant of
Incentive Stock Options, Nonqualified Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards, Other Cash-Based Awards, Dividend Equivalents, and Performance Compensation Awards. The Plan shall
become effective on the Effective Date. The effectiveness of the Plan shall be subject to approval of the Plan by the stockholders of the Company within twelve months following the date the Plan is first approved by the Board. The Plan shall remain
in effect as provided in Section 1(b) of the Plan. Capitalized but undefined terms shall have the meaning set forth in Section 3 of the Plan. 

(b) Duration of the Plan. The Plan shall commence on the Effective Date and shall remain in effect, subject to the right of the
Board to amend or terminate the Plan at any time pursuant to Section 14. However, in no event may an Award be granted under the Plan on or after ten years from the Effective Date, provided, however, in the case of an Award that is
an Incentive Stock Option, no Incentive Stock Option shall be granted on or after ten years from the earlier of (i) the date the Plan is approved by the Board and (ii) date the Company’s stockholders approve the Plan. 

2. Purpose. The purpose of the Plan is to provide a means through which the Company and its Affiliates may attract and retain key
personnel and to provide a means whereby certain directors, officers, employees, consultants and advisors of the Company and its Affiliates can acquire and maintain an equity interest in the Company, or be paid incentive compensation, which may be
measured by reference to the value of Common Shares, thereby strengthening their commitment to the welfare of the Company and its Affiliates and aligning their interests with those of the Company’s stockholders. 

3. Definitions. Certain terms used herein have the definitions given to them in the first instance in which they are used. In
addition, for purposes of the Plan, the following terms are defined as set forth below: 
 (a) “Affiliate” means
(i) any person or entity that directly or indirectly controls, is controlled by or is under common control with the Company and/or (ii) to the extent provided by the Committee, any person or entity in which the Company has a significant
interest. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any person or entity, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of such person or entity, whether through the ownership of voting or other securities, by contract or otherwise. 

(b) “Applicable Law” means any applicable law, including without limitation: (a) provisions of the Code, the
Securities Act, the Exchange Act and any rules or regulations thereunder; (b) corporate, securities, tax or other laws, statutes, rules, requirements or regulations, whether federal, state, local or foreign; and (c) rules of any securities
exchange or automated quotation system on which the Common Shares are listed, quoted or traded. 
 (c) “Award” means,
individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Other Stock-Based Awards, Other Cash-Based Awards, Dividend Equivalents, and/or Performance
Compensation Award granted under the Plan. 

  
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 (d) “Award Agreement” means a written agreement between a
Participant and the Company which sets out the terms of the grant of an Award. 
 (e) “Board” means the Board of
Directors of the Company. 
 (f) “Business Combination Agreement” shall mean that certain Business Combination
Agreement, by and among Maxpro Capital Acquisition Corp., the Company, and Project Max SPAC Merger Sub, Inc., dated as of September 14, 2022 as amended from time to time 

(g) “Cause” means, in the case of a particular Award, unless the applicable Award Agreement states otherwise,
(i) the Company or an Affiliate having “cause” to terminate a Participant’s employment or service, as defined in any employment or consulting or similar agreement between the Participant and the Company or an Affiliate in effect
at the time of such termination, or (ii) in the absence of any such employment or consulting or similar agreement (or the absence of any definition of “Cause” contained therein), a Participant’s (A) conviction of, or the
entry of a plea of guilty or no contest to, a felony or any other crime that causes the Company or its Affiliates public disgrace or disrepute, or materially and adversely affects the Company’s or its Affiliates’ operations or financial
performance or the relationship the Company has with its customers; (B) gross negligence or willful misconduct with respect to the Company or any of its Affiliates, including, without limitation, fraud, embezzlement, theft or proven dishonesty
in the course of his employment or other service to the Company or an Affiliate; (C) alcohol abuse or use of controlled substances other than in accordance with a physician’s prescription; (D) refusal to perform any lawful, material
obligation or fulfill any duty (other than any duty or obligation of the type described in clause (F) below) to the Company or its Affiliates (other than due to a disability, as determined by the Committee), which refusal, if curable, is not
cured within 15 days after delivery of written notice thereof; (E) material breach of any agreement with or duty owed to the Company or any of its Affiliates, which breach, if curable, is not cured within 15 days after the delivery of written
notice thereof; (F) any breach of any obligation or duty to the Company or any of its Affiliates (whether arising by statute, common law or agreement) relating to confidentiality, noncompetition, nonsolicitation and/or proprietary rights or
(G) material violation or breach of the documented code of ethics, code of conduct or similar document of the Company or an Affiliate or fiduciary duties to the Company or an Affiliate. 

(h) “Change in Control” shall, in the case of a particular Award, unless the applicable Award Agreement states
otherwise or contains a different definition of “Change in Control,” be deemed to occur upon any of the following events: 

(i) any “person” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than (A) the
Company or any of its Affiliates, (B) any trustee or other fiduciary holding securities under any employee benefit plan of the Company or any of its Affiliates, (C) an underwriter temporarily holding securities pursuant to an offering of
such securities, or (D) an entity owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Common Shares) becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, by way of merger, consolidation, recapitalization, reorganization or otherwise, of fifty percent (50%) or more of the total voting power of the then outstanding
voting securities of the Company; 
 (ii) the cessation of control (by virtue of their not constituting a majority of
directors) of the Board by the individuals (the “Continuing Directors”) who (x) were directors on the Effective Date or (y) become directors after Effective Date and whose election or nomination for election by the
Company’s stockholders was approved by a vote of at least two-thirds of the directors then in office who were directors on the Effective Date or whose election or nomination for election was
previously so approved; 

  
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 (iii) the consummation of a merger or consolidation of the Company with any
other company, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; 

(iv) the consummation of a plan of complete liquidation of the Company or the sale or disposition by the Company of all or
substantially all the Company’s assets; or 
 (v) any other event specified as a “Change in Control” in an
applicable Award Agreement. 
 Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any Award
(or any portion of an Award) that provides for the deferral of compensation that is subject to Section 409A of the Code, to the extent required to avoid the imposition of additional taxes under Section 409A of the Code, the transaction or
event described in subsection (i), (ii), (iii), (iv), or (v) with respect to such Award (or portion thereof) shall only constitute a Change in Control for purposes of the payment timing of such Award if such transaction also constitutes a
“change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5). 

(i) “Claim” means any claim, liability or obligation of any nature, arising out of or relating to the Plan or an
alleged breach of the Plan or an Award Agreement. 
 (j) “Code” means the Internal Revenue Code of 1986, as amended,
and any successor thereto. Reference in the Plan to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor provisions to such section, regulations or
guidance. 
 (k) “Committee” means a committee of at least two people as the Board may appoint to administer the Plan
or, if no such committee has been appointed by the Board, the Board. 
 (l) “Common Shares” means the
Company’s Class A ordinary shares, par value $0.0001 per share (and any stock or other securities into which such ordinary shares may be converted or into which they may be exchanged). 

(m) “Company” means Apollomics Inc., a Delaware corporation or its successor. 

(n) “Date of Grant” means the date on which the granting of an Award is authorized, or such other date as may be
specified in such authorization. 
 (o) “Dividend Equivalent” means a right awarded under Section 11 to receive
the equivalent value (in cash or Common Shares) of ordinary dividends that would otherwise be paid on the Common Shares subject to an Award that is a full-value award but that have not been issued or delivered. 

(p) “Effective Date” shall mean the date on which the transactions contemplated by the Business
Combination Agreement are consummated, provided that the Board has adopted the Plan prior to or on such date, subject to approval of the Plan by the Company’s stockholders. 

(q) “Eligible Director” means a person who is a “non-employee
director” within the meaning of Rule 16b-3 under the Exchange Act. 

  
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 (r) “Eligible Person” with respect to an Award denominated in Common
Shares, means any (i) individual employed by the Company or an Affiliate; (ii) director of the Company or an Affiliate; (iii) consultant or advisor to the Company or an Affiliate; provided that if the Securities Act applies
such persons must be eligible to be offered securities registrable on Form S-8 under the Securities Act; or (iv) prospective employees, directors, officers, consultants or advisors who have accepted
offers of employment or consultancy from the Company or its Affiliates (and would satisfy the provisions of clauses (i) through (iii) above once he begins employment with or begins providing services to the Company or its Affiliates,
provided that the Date of Grant of any Award to such individual shall not be prior to the date he begins employment with or begins providing services to the Company or its Affiliates). 

(s) “Exchange Act” means the U.S. Securities Exchange Act of 1934, as it may be amended from time to time,
including the rules and regulations promulgated thereunder and successor provisions and rules and regulations thereto. 
 (t)
“Exercise Price” has the meaning given such term in Section 7(b) of the Plan. 
 (u) “Fair Market
Value” means, as of any date, the value of Common Shares determined as follows: 
 (i) If the Common Shares are
listed on any established stock exchange or a national market system, the closing sales price for such shares (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in The
Wall Street Journal or such other source as the Committee deems reliable; 
 (ii) If the Common Shares are regularly
quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Common Share will be the mean between the high bid and low asked prices for the Common Shares on the day of determination, as reported in The
Wall Street Journal or such other source as the Committee deems reliable; or 
 (iii) In the absence of an established
market for the Common Shares, the Fair Market Value will be determined in good faith by the Committee (acting on the advice of an Independent Third Party, should the Committee elect in its sole discretion to utilize an Independent Third Party for
this purpose). 
 (iv) Notwithstanding the foregoing, the determination of Fair Market Value in all cases shall be in
accordance with the requirements set forth under Section 409A of the Code to the extent necessary for an Award to comply with, or be exempt from, Section 409A of the Code. 

(v) “Immediate Family Members” shall have the meaning set forth in Section 15(b)(ii). 

(w) “Incentive Stock Option” means an Option that is designated by the Committee as an incentive stock option as
described in Section 422 of the Code and otherwise meets the requirements set forth in the Plan for incentive stock options. 
 (x)
“Indemnifiable Person” shall have the meaning set forth in Section 4(e) of the Plan. 
 (y)
“Independent Third Party” means an individual or entity independent of the Company having experience in providing investment banking or similar appraisal or valuation services and with expertise generally in the valuation of
securities or other property for purposes of the Plan. The Committee may utilize one or more Independent Third Parties. 
 (z)
“Mature Shares” means Common Shares owned by a Participant that are not subject to any pledge or security interest and that have been either previously acquired by the Participant on the open market or meet such
other requirements, if any, as the Committee may determine are necessary in order to avoid an accounting earnings charge on account of the use of such shares to pay the Exercise Price or satisfy a tax or deduction obligation of the Participant. 

  
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 (aa) “Nonqualified Stock Option” means an Option that is not
designated by the Committee as an Incentive Stock Option. 
 (bb) “Option” means an Award granted under
Section 7 of the Plan. 
 (cc) “Option Period” has the meaning given such term in Section 7(c) of the Plan.

 (dd) “Other Cash-Based Award” means a cash Award granted to a Participant under Section 10 of the Plan,
including cash awarded as a bonus or upon the attainment of Performance Goals or otherwise as permitted under the Plan. 
 (ee)
“Other Stock-Based Award” means an equity-based or equity-related Award, other than an Option, SAR, Restricted Stock, Restricted Stock Unit or Dividend Equivalent, granted in accordance with the terms and conditions set forth
under Section 10 of the Plan 
 (ff) “Participant” means an Eligible Person who has been selected by the
Committee to participate in the Plan and to receive an Award pursuant to Section 6 of the Plan. 
 (gg) “Performance
Compensation Award” shall mean any Award designated by the Committee as a Performance Compensation Award pursuant to Section 12 of the Plan. 

(hh) “Performance Criteria” shall mean the criterion or criteria that the Committee shall select for purposes of
establishing the Performance Goal(s) for a Performance Period with respect to any Performance Compensation Award under the Plan pursuant to Section 12 of the Plan. 

(ii) “Performance Formula” shall mean, for a Performance Period, the one or more formulae applied against the relevant
Performance Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance Compensation Award has been earned for the applicable Performance
Period. 
 (jj) “Performance Goals” shall mean, for a Performance Period, the one or more goals established by the
Committee for the Performance Period based upon the Performance Criteria pursuant to Section 12 of the Plan. 
 (kk)
“Performance Period” shall mean the one or more periods of time, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s
right to, and the payment of, a Performance Compensation Award. 
 (ll) “Permitted Transferee” shall have the meaning
set forth in Section 15(b)(ii) of the Plan. 
 (mm) “Person” means any individual, entity or group within the
meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act. 
 (nn) “Plan” means this Apollomics Inc. 2023
Incentive Award Plan, as amended from time to time. 
 (oo) “Prior Plan” means the CB Therapeutics Inc. 2016 Equity
Incentive Plan. 

  
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 (pp) “Restricted Period” means the period of time determined by the
Committee during which an Award is subject to restrictions or, as applicable, the period of time within which performance is measured for purposes of determining whether an Award has been earned. 

(qq) “Restricted Stock Unit” means an unfunded and unsecured promise to deliver Common Shares, cash, other
securities or other property, subject to certain performance or time-based restrictions (including, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time),
granted under Section 9 of the Plan. 
 (rr) “Restricted Stock” means Common Shares, subject to certain
specified performance or time-based restrictions (including, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time), granted under Section 9 of the
Plan. 
 (ss) “SAR Period” has the meaning given such term in Section 8(c) of the Plan. 

(tt) “Securities Act” means the Securities Act of 1933, as amended, and any successor thereto. Reference in the
Plan to any section of the Securities Act shall be deemed to include any rules, regulations or other interpretative guidance under such section, and any amendments or successor provisions to such section, rules, regulations or guidance. 

(uu) “Stock Appreciation Right” or “SAR” means an Award granted under
Section 8 of the Plan. 
 (vv) “Strike Price” means, except as otherwise provided by the Committee in the case
of Substitute Awards, (i) in the case of a SAR granted in tandem with an Option, the Exercise Price of the related Option, or (ii) in the case of a SAR granted independent of an Option, the Fair Market Value on the Date of Grant. 

(ww) “Subsidiary” means, with respect to any specified Person: 

(i) any corporation, association or other business entity of which more than 50% of the total voting power of shares (without
regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) is at the time owned or controlled, directly or indirectly, by that Person or one or
more of the other Subsidiaries of that Person (or a combination thereof); and 
 (ii) any partnership (or any comparable
foreign entity (A) the sole general partner (or functional equivalent thereof) or the managing general partner of which is such Person or Subsidiary of such Person or (B) the only general partners (or functional equivalents thereof) of
which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 
 (xx) “Substitute
Award” has the meaning given such term in Section 5(e). 
 4. Administration. 

(a) The Committee shall administer the Plan. To the extent required to comply with the provisions of Rule
16b-3 promulgated under the Exchange Act and Applicable Law (if the Board is not acting as the Committee under the Plan), it is intended that each member of the Committee shall, at the time he takes any action
with respect to an Award under the Plan, be an Eligible Director. However, the fact that a Committee member shall fail to qualify as an Eligible Director shall not invalidate any Award granted by the Committee that is otherwise validly granted under
the Plan. 

  
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 (b) Subject to the provisions of the Plan and Applicable Law, the Committee shall have the
sole and plenary authority, in addition to other express powers and authorizations conferred on the Committee by the Plan, to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant;
(iii) determine the number of Common Shares to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine the terms and conditions of any Award;
(v) determine whether, to what extent, and under what circumstances Awards may be settled or exercised in cash, Common Shares, other securities, other Awards or other property, or canceled, forfeited, or suspended and the method or methods by
which Awards may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, Common Shares, other securities, other Awards or other property and other
amounts payable with respect to an Award shall be deferred either automatically or at the election of the Participant or of the Committee; (vii) interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply any
omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; (viii) establish, amend, suspend, or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the
proper administration of the Plan; (ix) accelerate the vesting or exercisability of, payment for or lapse of restrictions on, Awards; and (x) make any other determination and take any other action that the Committee deems necessary or
desirable for the administration of the Plan, in each case, to the extent consistent with the terms of the Plan. 
 (c) The Committee may
delegate to one or more officers of the Company or any Affiliate the authority to act on behalf of the Committee with respect to any matter, right, obligation, or election that is the responsibility of or that is allocated to the Committee herein,
and that may be so delegated as a matter of law, except for grants of Awards to persons subject to Section 16 of the Exchange Act. 

(d) Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with
respect to the Plan or any Award or any documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon all persons or entities,
including, without limitation, the Company, any Affiliate, any Participant, any holder or beneficiary of any Award, and any stockholder of the Company. 

(e) No member of the Board, the Committee, delegate of the Committee or any employee or agent of the Company (each such person, an
“Indemnifiable Person”) shall be liable for any action taken or omitted to be taken or any determination made in good faith with respect to the Plan or any Award hereunder. Each Indemnifiable Person shall be indemnified and held
harmless by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees) that may be imposed upon or incurred by such Indemnifiable Person in connection with or resulting from any action, suit or proceeding to
which such Indemnifiable Person may be a party or in which such Indemnifiable Person may be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement and against and from any and all amounts paid by such
Indemnifiable Person with the Company’s approval, in settlement thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in any such action, suit or proceeding against such Indemnifiable Person, provided that the
Company shall have the right, at its own expense, to assume and defend any such action, suit or proceeding and once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of
the Company’s choice. The foregoing right of indemnification shall not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication (in either case not subject to further appeal) binding upon such
Indemnifiable Person determines that the acts or omissions of such Indemnifiable Person giving rise to the indemnification claim resulted from such Indemnifiable Person’s bad faith, fraud or willful criminal act or omission or that such right
of indemnification is otherwise prohibited by law or by the Company’s Articles of Incorporation or Bylaws. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such Indemnifiable Persons
may be entitled under the Company’s Articles of Incorporation or Bylaws, as a matter of law, or otherwise, or any other power that the Company may have to indemnify such Indemnifiable Persons or hold them harmless. 

  
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 (f) Notwithstanding anything to the contrary contained in the Plan, the Board may, in its
sole discretion, at any time and from time to time, grant Awards and administer the Plan with respect to such Awards. In any such case, the Board shall have all the authority granted to the Committee under the Plan. 

5. Grant of Awards; Shares Subject to the Plan; Limitations. 

(a) The Committee may, from time to time, grant Awards to one or more Eligible Persons. 

(b) Subject to adjustment as provided in Section 13 of the Plan, the maximum number of Common Shares that may be delivered in satisfaction
of Awards under the Plan as of the Effective Date is (i) [•] Common Shares1 plus (ii) the number of Common Shares underlying awards under the Prior Plan that on or after the Effective
Date expire or become unexercisable, or are forfeited, cancelled, settled in cash or otherwise terminated, in each case, without delivery of shares therefor (in the case of this subclause (ii), not to exceed [•] Common Shares)2. In addition, subject to adjustment as provided in Section 13, such maximum number of Common Shares will automatically increase on January 1st of each year for a period of ten years commencing
on January 1, 2024 and ending on (and including) January 1, 2033, in an amount equal to [•]3% of the total number of Common Shares outstanding on December 31st of the preceding
year; provided, however, that the Board may act prior to January 1st of any such given year to provide that the increase for such year will be a lesser number of Common Shares. The maximum number of Common Shares that may be granted
under the Plan during any single fiscal year to any Participant who is a non-employee director, when taken together with any cash fees paid to such non-employee director
during such year in respect of his service as a non-employee director (including service as a member or chair of any committee of the Board), shall not exceed $750,000 in total value (calculating the value of
any such Awards based on the Fair Market Value on the Date of Grant of such Awards for financial reporting purposes); provided that the non-employee directors who are considered independent (under the
rules of the NASDAQ Stock Market or other securities exchange on which the Common Shares are traded) may make exceptions to this limit (up to $1,000,000) for a non-executive chair of the Board, if any, in
which case the non-employee director receiving such additional compensation may not participate in the decision to award such compensation. 

(c) In the event that (i) any Option or other Award granted hereunder is exercised through the tendering of Common Shares (either actually
or by attestation) or by the withholding of Common Shares by the Company, or (ii) tax or deduction liabilities arising from such Option or other Award are satisfied by the tendering of Common Shares (either actually or by attestation) or by the
withholding of Common Shares by the Company, then in each such case the Common Shares so tendered or withheld shall be added to the Common Shares available for grant under the Plan on a
one-for-one basis. Common Shares underlying Awards under the Plan that are forfeited, canceled, expire unexercised, or are settled in cash shall also be available again
for issuance as Awards under the Plan. 
 (d) Common Shares delivered by the Company in settlement of Awards may be authorized and unissued
shares, shares held in the treasury of the Company, shares purchased on the open market or by private purchase, or a combination of the foregoing. 

(e) Awards may, in the sole discretion of the Committee, be granted under the Plan in assumption of, or in substitution for, outstanding awards
previously granted by an entity acquired by the Company or with which the Company combines (“Substitute Awards”). The number of Common Shares underlying any Substitute Awards shall not be counted against the aggregate number of
Common Shares available for Awards under the Plan. 
  

	1 	 Note to Draft: To be determined. 

	2 	 Note to Draft: To be determined. 

	3 	 Note to Draft: To be determined. 

  
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 6. Eligibility. Participation shall be limited to Eligible Persons who have
entered into an Award Agreement or who have received written notification from the Committee or from a person designated by the Committee, that they have been selected to participate in the Plan. 

7. Options. 
 (a)
Generally. Each Option granted under the Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium (including email or the posting on a web site maintained by the Company or a third party under contract with
the Company)). Each Option so granted shall be subject to the conditions set forth in this Section 7 and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. All Options granted under
the Plan shall be Nonqualified Stock Options unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option. Subject to Section 13, the maximum aggregate number of Common Shares that may be
issued through the exercise of Incentive Stock Options granted under the Plan is the number of Common Shares specified in Section 5(b) above, which, for the avoidance of doubt, such share limit shall not be subject to the annual adjustment
provided in Section 5(b)(i). Incentive Stock Options shall be granted only to Eligible Persons who are employees of the Company and its Affiliates, and no Incentive Stock Option shall be granted to any Eligible Person who is ineligible to
receive an Incentive Stock Option under the Code. No Option shall be treated as an Incentive Stock Option unless the Plan has been approved by the stockholders of the Company in a manner intended to comply with the stockholder approval requirements
of Section 422(b)(1) of the Code; provided that any Option intended to be an Incentive Stock Option shall not fail to be effective solely on account of a failure to obtain such approval, but rather such Option shall be treated as a
Nonqualified Stock Option unless and until such approval is obtained. In the case of an Incentive Stock Option, the terms and conditions of such grant shall be subject to and comply with such rules as may be prescribed by Section 422 of the
Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option or portion thereof shall be regarded as a
Nonqualified Stock Option appropriately granted under the Plan. 
 (b) Exercise Price. Except with respect to Substitute
Awards, the exercise price (“Exercise Price”) per Common Share for each Option shall not be less than 100% of the Fair Market Value of such share determined as of the Date of Grant; provided, however, that in the case
of an Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns shares representing more than 10% of the total combined voting power of all classes of shares of the Company or any related corporation (as
determined in accordance with Treasury Regulation Section 1.422-2(f)), the Exercise Price per share shall not be less than 110% of the Fair Market Value per share on the Date of Grant and provided
further, that, notwithstanding any provision herein to the contrary, the Exercise Price shall not be less than the par value per Common Share. 

(c) Vesting and Expiration. Options shall vest and become exercisable in such manner and on such date or dates determined by the
Committee and shall expire after such period, not to exceed ten years, as may be determined by the Committee (the “Option Period”); provided, however, that the Option Period shall not exceed five years from the Date of
Grant in the case of an Incentive Stock Option granted to a Participant who on the Date of Grant owns shares representing more than 10% of the total combined voting power of all classes of shares of the Company or any related corporation (as
determined in accordance with Treasury Regulation Section 1.422-2(f)); provided, further, that notwithstanding any vesting dates set by the Committee, the Committee may, in its sole
discretion, accelerate the exercisability of any Option, which acceleration shall not affect the terms and conditions of such Option other than with respect to 

  
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exercisability. If the Option would expire at a time when the exercise of the Option would violate applicable securities laws, the expiration date applicable to the Option will be automatically
extended to a date that is 30 calendar days following the date such exercise would no longer violate applicable securities laws (so long as such extension shall not violate Section 409A of the Code); provided, that in no event shall
such expiration date be extended beyond the expiration of the Option Period. 
 (d) Method of Exercise and Form of
Payment. No Common Shares shall be delivered pursuant to any exercise of an Option until payment in full of the Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal to any
taxes required to be withheld or paid upon exercise of such Option. Options that have become exercisable may be exercised by delivery of written or electronic notice of exercise to the Company in accordance with the terms of the Option, accompanied
by payment of the Exercise Price. The Exercise Price shall be payable (i) in cash, check, cash equivalent and/or Common Shares valued at the Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved by
the Committee, by means of attestation of ownership of a sufficient number of Common Shares in lieu of actual delivery of such shares to the Company); provided that such Common Shares are not subject to any pledge or other security interest and are
Mature Shares; and (ii) by such other method as the Committee may permit in accordance with Applicable Law, in its sole discretion, including without limitation: (A) in other property having a Fair Market Value on the date of exercise
equal to the Exercise Price, (B) if there is a public market for the Common Shares at such time, by means of a broker-assisted “cashless exercise” pursuant to which the Company is delivered a copy of irrevocable instructions to a
stockbroker to sell the Common Shares otherwise deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price, or (C) by a “net exercise” method whereby the Company withholds
from the delivery of the Common Shares for which the Option was exercised that number of Common Shares having a Fair Market Value equal to the aggregate Exercise Price for the Common Shares for which the Option was exercised. No fractional Common
Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash, other securities or other property shall be paid or transferred in lieu of any fractional Common Shares, or whether such
fractional Common Shares or any rights thereto shall be canceled, terminated or otherwise eliminated. 
 (e) Notification upon
Disqualifying Disposition of an Incentive Stock Option. Each Participant awarded an Incentive Stock Option under the Plan shall notify the Company in writing immediately after the date he makes a disqualifying disposition of any Common
Shares acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including, without limitation, any sale) of such Common Shares before the later of (i) two years after the Date of Grant of the
Incentive Stock Option or (ii) one year after the date of exercise of the Incentive Stock Option. The Company may, if determined by the Committee and in accordance with procedures established by the Committee, retain possession of any Common
Shares acquired pursuant to the exercise of an Incentive Stock Option as agent for the applicable Participant until the end of the period described in the preceding sentence. 

(f) Compliance With Laws, etc. Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option
in a manner that the Committee determines would violate the Sarbanes-Oxley Act of 2002, if applicable; any other Applicable Law; the applicable rules and regulations of the Securities and Exchange Commission;
or the applicable rules and regulations of any securities exchange or inter-dealer quotation system on which the securities of the Company are listed or traded. 

8. Stock Appreciation Rights. 

(a) Generally. Each SAR granted under the Plan shall be evidenced by an Award Agreement (whether in paper or electronic medium
(including email or the posting on a web site maintained by the Company or a third party under contract with the Company)). Each SAR so granted shall be subject to the conditions set forth in this Section 8 and to such other conditions not
inconsistent with the Plan as may be reflected in the applicable Award Agreement. Any Option granted under the Plan may include tandem SARs. The Committee also may award SARs to Eligible Persons independent of any Option. 

  
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 (b) Strike Price. The Strike Price per Common Share for each SAR shall not be
less than 100% of the Fair Market Value of such share determined as of the Date of Grant. 
 (c) Vesting and Expiration. A SAR
granted in connection with an Option shall become exercisable and shall expire according to the same vesting schedule and expiration provisions as the corresponding Option. A SAR granted independent of an Option shall vest and become exercisable and
shall expire in such manner and on such date or dates determined by the Committee and shall expire after such period, not to exceed ten years, as may be determined by the Committee (the “SAR Period”); provided,
however, that notwithstanding any vesting dates set by the Committee, the Committee may, in its sole discretion, accelerate the exercisability of any SAR, which acceleration shall not affect the terms and conditions of such SAR other than
with respect to exercisability. If the SAR would expire at a time when the exercise of the SAR would violate applicable securities laws, the expiration date applicable to the SAR will be automatically extended to a date that is 30 calendar days
following the date such exercise would no longer violate applicable securities laws (so long as such extension shall not violate Section 409A of the Code); provided, that in no event shall such expiration date be extended beyond the
expiration of the SAR Period. 
 (d) Method of Exercise. SARs that have become exercisable may be exercised by delivery of
written or electronic notice of exercise to the Company in accordance with the terms of the Award, specifying the number of SARs to be exercised and the date on which such SARs were awarded. 

(e) Payment. Upon the exercise of a SAR, the Company shall pay to the Participant an amount equal to the number of shares
subject to the SAR that are being exercised, multiplied by the excess, if any, of the Fair Market Value of one Common Share on the exercise date over the Strike Price, less an amount equal to any taxes required to be withheld or paid. The Company
shall pay such amount in cash, in Common Shares having a Fair Market Value equal to such amount, or any combination thereof, as determined by the Committee. No fractional Common Shares shall be issued or delivered pursuant to the Plan or any Award,
and the Committee shall determine whether cash, other securities or other property shall be paid or transferred in lieu of any fractional Common Shares, or whether such fractional Common Shares or any rights thereto shall be canceled, terminated or
otherwise eliminated. 
 9. Restricted Stock and Restricted Stock Units. 

(a) Generally. Each grant of Restricted Stock and Restricted Stock Units shall be evidenced by an Award Agreement (whether in
paper or electronic medium (including email or the posting on a web site maintained by the Company or a third party under contract with the Company)). Each such grant shall be subject to the conditions set forth in this Section 9 and to such
other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. 
 (b) Restricted Accounts;
Escrow or Similar Arrangement. Upon the grant of Restricted Stock, a book entry in a restricted account shall be established in the Participant’s name at the Company’s transfer agent and, if the Committee determines that the
Restricted Stock shall be held by the Company or in escrow rather than held in such restricted account pending the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to the Company
(i) an escrow agreement satisfactory to the Committee, if applicable, and (ii) the appropriate stock power (endorsed in blank) with respect to the Restricted Stock covered by such agreement. If a Participant shall fail to execute an
agreement evidencing an Award of Restricted Stock and, if applicable, an escrow agreement and blank stock power within the amount of time specified by the Committee, the Award shall be null and void.

  
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Subject to the restrictions set forth in this Section 9 and the applicable Award Agreement, the Participant generally shall have the rights and privileges of a stockholder as to such
Restricted Stock, including, without limitation, the right to vote such Restricted Stock and the right to receive dividends, if applicable. To the extent shares of Restricted Stock are forfeited, any share certificates issued to the Participant
evidencing such shares shall be returned to the Company, and all rights of the Participant to such shares and as a stockholder with respect thereto shall terminate without further obligation on the part of the Company. 

(c) Vesting. Unless otherwise provided by the Committee in an Award Agreement the unvested portion of Restricted Stock and
Restricted Stock Units shall terminate and be forfeited upon termination of employment or service of the Participant granted the applicable Award. 

(d) Delivery of Restricted Stock and Settlement of Restricted Stock Units. 

(i) Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set forth in
the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the
Participant, or his beneficiary, without charge, the share certificate evidencing the shares of Restricted Stock that have not then been forfeited and with respect to which the Restricted Period has expired (rounded down to the nearest full share)
or shall register such shares in the Participants name without any such restrictions. Dividends, if any, that may have been withheld by the Committee and attributable to any particular share of Restricted Stock shall be distributed to the
Participant in cash or, at the sole discretion of the Committee, in Common Shares having a Fair Market Value equal to the amount of such dividends, upon the release of restrictions on such share and, if such share is forfeited, the Participant shall
have no right to such dividends (except as otherwise set forth by the Committee in the applicable Award Agreement). 
 (ii)
Unless otherwise provided by the Committee in an Award Agreement, upon the expiration of the Restricted Period with respect to any outstanding Restricted Stock Units, the Company shall deliver to the Participant, or his beneficiary, without charge,
one Common Share for each such outstanding Restricted Stock Unit; provided, however, that the Committee may, in its sole discretion, elect to (A) pay cash or part cash and part Common Share in lieu of delivering only Common Shares
in respect of such Restricted Stock Units or (B) defer the delivery of Common Shares (or cash or part Common Shares and part cash, as the case may be) beyond the expiration of the Restricted Period if such delivery would result in a violation
of Applicable Law until such time as is no longer the case. If a cash payment is made in lieu of delivering Common Shares, the amount of such payment shall be equal to the Fair Market Value of the Common Shares as of the date on which the Restricted
Period lapsed with respect to such Restricted Stock Units, less an amount equal to any taxes required to be withheld or paid. 
 10.
Other Stock-Based Awards and Other Cash-Based Awards.. 
 (a) Other Stock-Based Awards. The Committee may
grant types of equity-based or equity-related Awards not otherwise described by the terms of the Plan (including the grant or offer for sale of unrestricted Common Shares), in such amounts and subject to such
terms and conditions, as the Committee shall determine. Such Other Stock-Based Awards may involve the transfer of actual Common Shares to Participants, or payment in cash or otherwise of amounts based on the value of Common Shares. The terms and
conditions of such Awards shall be consistent with the Plan and set forth in the Award Agreement and need not be uniform among all such Awards or all Participants receiving such Awards. 

  
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 (b) Other Cash-Based Awards. The Committee may grant a Participant a cash
Award not otherwise described by the terms of the Plan, including cash awarded as a bonus or upon the attainment of Performance Goals or otherwise as permitted under the Plan. 

(c) Value of Awards. Each Other Stock-Based Award shall be expressed in terms of Common Shares or units based on Common Shares,
as determined by the Committee, and each Other Cash-Based Awards shall be shall be expressed in terms of cash, as determined by the Committee. The Committee may establish Performance Goals in its discretion pursuant to Section 12, and any such
Performance Goals shall be set forth in the applicable Award Agreement. If the Committee exercises its discretion to establish Performance Goals, the number and/or value of Other Stock-Based Awards or Other Cash-Based Awards that will be paid out to
the Participant will depend on the extent to which such Performance Goals are met. 
 (d) Payment of Awards. Payment, if any,
with respect to an Other Stock-Based Award or Other Cash-Based Award shall be made in accordance with the terms of the Award, as set forth in the Award Agreement, in cash, Common Shares or a combination of cash and Common Shares, as the Committee
determines. 
 (e) Vesting. The Committee shall determine the extent to which the Participant shall have the right to receive
Other Stock-Based Awards or Other Cash-Based Awards following the Participant’s termination of employment or service (including by reason of such Participant’s death, disability (as determined by the Committee), or termination without
Cause). Such provisions shall be determined in the sole discretion of the Committee and will be included in the applicable Award Agreement but need not be uniform among all Other Stock-Based Awards or Other Cash-Based Awards issued pursuant to the
Plan and may reflect distinctions based on the reasons for the termination of employment or service. 
 11. Dividend
Equivalents. No adjustment shall be made in the Common Shares issuable or taken into account under Awards on account of cash dividends that may be paid or other rights that may be issued to the holders of Common Shares prior to issuance of
such Common Shares under such Award. The Committee may grant Dividend Equivalents based on the dividends declared on Common Shares that are subject to any Award (other than an Option or Stock Appreciation Right). Any Award of Dividend Equivalents
may be credited as of the dividend payment dates, during the period between the Date of Grant of the Award and the date the Award becomes payable or terminates or expires, as determined by the Committee; however, Dividend Equivalents shall not be
payable unless and until the Award becomes payable, and shall be subject to forfeiture to the same extent as the underlying Award. Dividend Equivalents may be subject to any additional limitations and/or restrictions determined by the Committee.
Dividend Equivalents shall be payable in cash, Common Shares or converted to full-value Awards, calculated based on such formula, as may be determined by the Committee. 

12. Performance Compensation Awards. 

(a) Generally. The Committee shall have the authority, at the time of grant of any Award described in Sections 7 through 10
of the Plan, to designate such Award as a Performance Compensation Award. The Committee shall have the authority to make an award of a cash bonus to any Participant and designate such Award as a Performance Compensation Award. Unless otherwise
determined by the Committee, all Performance Compensation Awards shall be evidenced by an Award Agreement. 
 (b) Discretion of
Committee with Respect to Performance Compensation Awards. The Committee shall have the discretion to establish the terms, conditions and restrictions of any Performance Compensation Award. With regard to a particular Performance
Period, the Committee shall have sole discretion to select the length of such Performance Period, the type(s) of Performance Compensation Awards to be issued, the Performance Criteria that will be used to establish the Performance Goal(s), the
kind(s) and/or level(s) of the Performance Goals(s) that is (are) to apply and the Performance Formula. 

  
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 (c) Performance Criteria. The Committee may establish Performance Criteria
that will be used to establish the Performance Goal(s) for Performance Compensation Awards which may be based on the attainment of specific levels of performance of the Company (and/or one or more Affiliates, divisions, business segments or
operational units, or any combination of the foregoing) and may include, without limitation, any of the following: (i) net earnings or net income (before or after taxes); (ii) basic or diluted earnings per share (before or after taxes); (iii)
revenue or revenue growth (measured on a net or gross basis); (iv) gross profit or gross profit growth; (v) operating profit (before or after taxes); (vi) return measures (including, but not limited to, return on assets, capital, invested
capital, equity, or sales); (vii) cash flow (including, but not limited to, operating cash flow, free cash flow, net cash provided by operations and cash flow return on capital); (viii) financing and other capital raising transactions (including,
but not limited to, sales of the Company’s equity or debt securities); (ix) earnings before or after taxes, interest, depreciation and/or amortization; (x) gross or operating margins; (xi) productivity ratios; (xii) share price
(including, but not limited to, growth measures and total stockholder return); (xiii) expense targets; (xiv) margins; (xv) productivity and operating efficiencies; (xvi) customer satisfaction; (xvii) customer growth;
(xviii) working capital targets; (xix) measures of economic value added; (xx) inventory control; (xxi) enterprise value; (xxii) sales; (xxiii) debt levels and net debt; (xxiv) combined ratio; (xxv) timely launch of
new facilities; (xxvi) client retention; (xxvii) employee retention; (xxviii) timely completion of new product rollouts; (xxix) cost targets; (xxx) reductions and savings; (xxxi) productivity and efficiencies;
(xxxii) strategic partnerships or transactions; (xxxiii) personal targets, goals or completion of projects; and (xxxiv) such other criteria as established by the Committee in its discretion from time to time. Any one or more of the
Performance Criteria may be used on an absolute or relative basis to measure the performance of the Company and/or one or more Affiliates as a whole or any business unit(s) of the Company and/or one or more Affiliates or any combination thereof, as
the Committee may deem appropriate, or any of the above Performance Criteria may be compared to the performance of a selected group of comparable or peer companies, or a published or special index that the Committee, in its sole discretion, deems
appropriate, or as compared to various stock market indices. The Committee also has the authority to provide for accelerated vesting of any Award based on the achievement of Performance Goals pursuant to the Performance Criteria specified in this
paragraph. Any Performance Criteria that are financial metrics, may be determined in accordance with United States Generally Accepted Accounting Principles (“GAAP”) or may be adjusted when established to include or exclude any items
otherwise includable or excludable under GAAP. 
 (d) Modification of Performance Goal(s). The Committee is authorized
at any time to adjust or modify the calculation of a Performance Goal for such Performance Period, based on and in order to appropriately reflect any specified circumstance or event that occurs during a Performance Period, including but not limited
to the following: (i) asset write-downs; (ii) litigation or claim judgments or settlements; (iii) the effect of changes in tax laws, accounting principles, or other laws or regulatory rules affecting reported results; (iv) any
reorganization and restructuring programs; (v) unusual and/or infrequently occurring items as described in Accounting Principles Board Opinion No. 30 (or any successor pronouncement thereto) and/or in management’s discussion and
analysis of financial condition and results of operations appearing in the Company’s annual report to stockholders for the applicable year; (vi) acquisitions or divestitures; (vii) discontinued operations; (viii) any other
specific unusual or infrequently occurring or non-recurring events, or objectively determinable category thereof; (ix) foreign exchange gains and losses; and (x) a change in the Company’s fiscal
year. 
 (e) Terms and Condition to Receipt of Payment. Unless otherwise provided in the applicable Award Agreement, a
Participant must be employed by the Company on the last day of a Performance Period to be eligible for payment in respect of a Performance Compensation Award for such Performance Period. Unless otherwise determined by the Committee, a Participant
shall be eligible to receive payment in respect 

  
 14 

 
of a Performance Compensation Award only to the extent that: (i) the Performance Goals for such period are achieved; and (ii) all or some of the portion of such Participant’s
Performance Compensation Award has been earned for the Performance Period based on the application of the Performance Formula to such achieved Performance Goals. Following the completion of a Performance Period, the Committee shall determine
whether, and to what extent, the Performance Goals for the Performance Period have been achieved and, if so, calculate the amount of the Performance Compensation Awards earned for the period based upon the Performance Formula. The Committee shall
then determine the amount of each Participant’s Performance Compensation Award actually payable for the Performance Period. 
 13.
Changes in Capital Structure and Similar Events. In the event of (a) any dividend (other than ordinary cash dividends) or other distribution (whether in the form of cash, Common Shares, other securities or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, amalgamation, consolidation, spin-off, split-up,
split-off, combination, repurchase or exchange of Common Shares or other securities of the Company, issuance of warrants or other rights to acquire Common Shares or other securities of the Company, or other
similar corporate transaction or event (including, without limitation, a Change in Control) that affects the Common Shares, or (b) unusual or infrequently occurring events (including, without limitation, a Change in Control) affecting the
Company, any Affiliate, or the financial statements of the Company or any Affiliate, or changes in applicable rules, rulings, regulations or other requirements of any governmental body or securities exchange or inter-dealer quotation system,
accounting principles or law, such that in either case an adjustment is determined by the Committee in its sole discretion to be necessary or appropriate, then the Committee shall make any such adjustments in such manner as it may deem equitable,
subject to the requirements of Code Sections 409A, 421, and 422, if applicable, including without limitation any or all of the following: 

(a) adjusting any or all of (i) the number of Common Shares or other securities of the Company (or number and kind of other securities or
other property) that may be delivered in respect of Awards or with respect to which Awards may be granted under the Plan (including, without limitation, adjusting any or all of the limitations under Section 5 of the Plan) and (ii) the
terms of any outstanding Award, including, without limitation, (A) the number of Common Shares or other securities of the Company (or number and kind of other securities or other property) subject to outstanding Awards or to which outstanding
Awards relate, (B) the Exercise Price or Strike Price with respect to any Award or (C) any applicable performance measures (including, without limitation, Performance Criteria and Performance Goals); 

(b) providing for a substitution or assumption of Awards in a manner that substantially preserves the applicable terms of such Awards; 

(c) accelerating the exercisability or vesting of, lapse of restrictions on, or termination of, Awards or providing for a period of time for
exercise prior to the occurrence of such event; 
 (d) modifying the terms of Awards to add events, conditions or circumstances (including
termination of employment within a specified period after a Change in Control) upon which the exercisability or vesting of or lapse of restrictions thereon will accelerate; 

(e) deeming any performance measures (including, without limitation, Performance Criteria and Performance Goals) satisfied at target, maximum
or actual performance through closing or such other level determined by the Committee in its sole discretion, or providing for the performance measures to continue (as is or as adjusted by the Committee) after closing; 

(f) providing that for a period prior to the Change in Control determined by the Committee in its sole discretion, any Options or SARs that
would not otherwise become exercisable prior to the Change in Control will be exercisable as to all Common Shares subject thereto (but any such exercise will be contingent upon and subject to the occurrence of the Change in Control and if the Change
in Control does not take place after giving such notice for any reason whatsoever, the exercise will be null and void) and that any Options or SARs not exercised prior to the consummation of the Change in Control will terminate and be of no further
force and effect as of the consummation of the Change in Control; and 

  
 15 

 (g) canceling any one or more outstanding Awards and causing to be paid to the holders
thereof, in cash, Common Shares, other securities or other property, or any combination thereof, the value of such Awards, if any, as determined by the Committee (which if applicable may be based upon the price per Common Share received or to be
received by other stockholders of the Company in such event), including without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal to the excess, if any, of the Fair Market Value (as of a date specified by the
Committee) of the Common Shares subject to such Option or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR, respectively (it being understood that, in such event, any Option or SAR having a per share Exercise Price or
Strike Price equal to, or in excess of, the Fair Market Value of a Common Share subject thereto may be canceled and terminated without any payment or consideration therefor); provided, however, that in the case of any “equity
restructuring” (within the meaning of the Financial Accounting Standards Board Accounting Standards Codification Topic 718), the Committee shall make an equitable or proportionate adjustment to outstanding Awards to reflect such equity
restructuring. The Company shall give each Participant notice of an adjustment hereunder and, upon notice, such adjustment shall be final, conclusive and binding for all purposes. 

14. Amendments and Termination. 

(a) Amendment and Termination of the Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion
thereof at any time; provided that no such amendment, alteration, suspension, discontinuation or termination shall be made without stockholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable
to the Plan (including, without limitation, as necessary to comply with any rules or requirements of any securities exchange or inter-dealer quotation system on which the Common Shares may be listed or quoted); provided, further, that
any such amendment, alteration, suspension, discontinuance or termination that would materially and adversely affect the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be effective
without the consent of the affected Participant, holder or beneficiary. 
 (b) Amendment of Award Agreements; Repricing. The
Committee may, to the extent consistent with the terms of any applicable Award Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore granted or the associated
Award Agreement, prospectively or retroactively; provided that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would materially and adversely affect the rights of any Participant with
respect to any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, unless the Committee determines, in its sole discretion, that the amendment is necessary for the Award to comply with
Code Section 409A. In addition, the Committee shall, without the approval of the stockholders of the Company, have the authority to reduce the exercise price per share of outstanding Options or Stock Appreciation Rights or cancel outstanding
Options or Stock Appreciation Rights in exchange for cash, other Awards or Options or Stock Appreciation Rights with an exercise price per share that is less than the exercise price per share of the original Options or Stock Appreciation Rights.

  
 16 

 15. General. 

(a) Award Agreements. Each Award under the Plan shall be evidenced by an Award Agreement, which shall be delivered to the
Participant (whether in paper or electronic medium (including email or the posting on a web site maintained by the Company or a third party under contract with the Company)) and shall specify the terms and conditions of the Award and any rules
applicable thereto, including, without limitation, the effect on such Award of the death, disability (as determined by the Committee) or termination of employment or service of a Participant, or of such other events as may be determined by the
Committee. 
 (b) Nontransferability. 

(i) Each Award shall be exercisable only by a Participant during the Participant’s lifetime, or, if permissible under
Applicable Law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant other than by will or by the laws of descent and
distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or an Affiliate; provided that the designation of a beneficiary shall not
constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. 
 (ii) Notwithstanding the
foregoing, the Committee may, in its sole discretion, permit Awards (other than Incentive Stock Options) to be transferred by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award
Agreement to preserve the purposes of the Plan, to: (A) any person who is a “family member” of the Participant, as such term is used in the instructions to Form S-8 under the Securities Act
(collectively, the “Immediate Family Members”); (B) a trust solely for the benefit of the Participant and his Immediate Family Members; (C) a partnership or limited liability company whose only partners or stockholders are the
Participant and his Immediate Family Members; or (D) any other transferee as may be approved either (I) by the Board or the Committee in its sole discretion, or (II) as provided in the applicable Award Agreement (each transferee
described in clauses (A), (B), (C) and (D) above is hereinafter referred to as, a “Permitted Transferee”); provided that the Participant gives the Committee advance written notice describing the terms and conditions
of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan. 

(iii) The terms of any Award transferred in accordance with the immediately preceding sentence shall apply to the Permitted
Transferee and any reference in the Plan, or in any applicable Award Agreement, to a Participant shall be deemed to refer to the Permitted Transferee, except that (A) Permitted Transferees shall not be entitled to transfer any Award, other than
by will or the laws of descent and distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate form covering the Common Shares to be
acquired pursuant to the exercise of such Option if the Committee determines, consistent with any applicable Award Agreement, that such a registration statement is necessary or appropriate; (C) the Committee or the Company shall not be required
to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise; and (D) the consequences of the termination of the
Participant’s employment by, or services to, the Company or an Affiliate under the terms of the Plan and the applicable Award Agreement shall continue to be applied with respect to the Participant, including, without limitation, that an Option
shall be exercisable by the Permitted Transferee only to the extent, and for the periods, specified in the Plan and the applicable Award Agreement. 

  
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 (c) Tax Withholding and Deductions. 

(i) A Participant shall be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall have the
right and is hereby authorized to deduct and withhold, from any cash, Common Shares, other securities or other property deliverable under any Award or from any compensation or other amounts owing to a Participant, the amount (in cash, Common Shares,
other securities or other property) of any required taxes (up to the maximum statutory rate under Applicable Law as in effect from time to time as determined by the Committee) and deduction in respect of an Award, its grant, vesting or exercise, or
any payment or transfer under an Award or under the Plan and to take such other action as may be necessary in the opinion of the Committee or the Company to satisfy all obligations for the payment of such taxes. 

(ii) Without limiting the generality of clause (i) above, the Committee may, in its sole discretion, permit a Participant
to satisfy, in whole or in part, the foregoing tax and deduction liability by (A) the delivery of Common Shares (which are not subject to any pledge or other security interest and are Mature Shares, except as otherwise determined by the
Committee) owned by the Participant having a Fair Market Value equal to such liability or (B) having the Company withhold from the number of Common Shares otherwise issuable or deliverable pursuant to the exercise or settlement of the Award a
number of shares with a Fair Market Value equal to such liability. 
 (d) No Claim to Awards; No Rights to Continued Employment;
Waiver. No employee of the Company or an Affiliate, or other person, shall have any Claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award. A
Participant’s sole remedy for any Claim related to the Plan or any Award shall be against the Company, and no Participant shall have any Claim or right of any nature against any Subsidiary or Affiliate of the Company or any stockholder or
existing or former director, officer or employee of the Company or any Subsidiary of the Company. There is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the
Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant and may be made selectively among Participants, whether or not such Participants are similarly situated. Neither the Plan
nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of the Company or an Affiliate, nor shall it be construed as giving any Participant any rights to continued service on the
Board. The Company or any of its Affiliates may at any time dismiss a Participant from employment or discontinue any consulting relationship, free from any liability or any Claim under the Plan, unless otherwise expressly provided in the Plan or any
Award Agreement. By accepting an Award under the Plan, a Participant shall thereby be deemed to have waived any Claim to continued exercise or vesting of an Award or to damages or severance entitlement related to
non-continuation of the Award beyond the period provided under the Plan or any Award Agreement, notwithstanding any provision to the contrary in any written employment contract or other agreement between the
Company and its Affiliates and the Participant, whether any such agreement is executed before, on or after the Date of Grant. 
 (e)
International Participants. With respect to Participants who reside or work outside of the United States of America, the Committee may in its sole discretion amend the terms of the Plan or outstanding Awards with respect to such
Participants in order to conform such terms with the requirements of local law or to obtain more favorable tax or other and, in furtherance of such purposes the Committee may make such modifications, amendments, procedures, sub-plans and the like as may be necessary or advisable to comply with provisions of laws in other countries or jurisdictions in which the Company or its Subsidiaries operates or has employees. 

  
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 (f) Designation and Change of Beneficiary. Each Participant may file with the
Committee a written designation of one or more persons as the beneficiary(ies) who shall be entitled to receive the amounts payable with respect to an Award, if any, due under the Plan upon his death. A Participant may, from time to time, revoke or
change his beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Committee. The last such designation received by the Committee shall be controlling; provided, however, that no
designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation is filed
by a Participant, the beneficiary shall be deemed to be his spouse or, if the Participant is unmarried at the time of death, his estate. 

(g) Termination of Employment/Service. Unless determined otherwise by the Committee at any time following such event and subject
to Section 15(r) of the Plan: (i) neither a temporary absence from employment or service due to illness, vacation or leave of absence nor a transfer from employment or service with the Company to employment or service with an Affiliate (or
vice-versa) shall be considered a termination of employment or service with the Company or an Affiliate; and (ii) if a Participant’s employment with the Company and its Affiliates terminates, but such Participant continues to provide
services to the Company and its Affiliates in a non-employee capacity (or vice-versa), such change in status shall not be considered a termination of employment with the Company or an Affiliate. 

(h) No Rights as a Stockholder. Except as otherwise specifically provided in the Plan or any Award Agreement, no person shall be
entitled to the privileges of ownership in respect of Common Shares or other securities that are subject to Awards hereunder until such shares have been issued or delivered to that person. 

(i) Government and Other Regulations. 

(i) The obligation of the Company to settle Awards in Common Shares or other consideration shall be subject to all Applicable
Laws, rules, and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be
prohibited from offering to sell or selling, any Common Shares or other securities pursuant to an Award unless such shares have been properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless
the Company has received an opinion of counsel, satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to an available exemption therefrom and the terms and conditions of such exemption have been
fully complied with. The Company shall be under no obligation to register for sale under the Securities Act any of the Common Shares or other securities to be offered or sold under the Plan. The Committee shall have the authority to provide that all
certificates for Common Shares or other securities of the Company or any Affiliate delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan, the applicable Award
Agreement, the federal securities laws, or the rules, regulations and other requirements of the Securities and Exchange Commission, any securities exchange or inter-dealer quotation system upon which such
shares or other securities are then listed or quoted and any other applicable federal, state, local or non-U.S. laws, and, without limiting the generality of Section 9 of the Plan, the Committee may cause
a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. Notwithstanding any provision in the Plan to the contrary, the Committee reserves the right to add any additional terms or provisions to any
Award granted under the Plan that it in its sole discretion deems necessary or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the Award is subject. 

  
 19 

 (ii) The Committee may cancel an Award or any portion thereof if the
Committee determines, in its sole discretion, that legal or contractual restrictions and/or blockage and/or other market considerations would make the Company’s acquisition of Common Shares from the public markets, the Company’s issuance
of Common Shares or other securities to the Participant, the Participant’s acquisition of Common Shares or other securities from the Company and/or the Participant’s sale of Common Shares to the public markets, illegal, impracticable or
inadvisable. If the Committee determines to cancel all or any portion of an Award denominated in Common Shares in accordance with the foregoing, the Company shall pay to the Participant an amount equal to the excess of (A) the aggregate Fair
Market Value of the Common Shares subject to such Award or portion thereof that is canceled (determined as of the applicable exercise date, or the date that the shares would have been vested or delivered, as applicable), over (B) the aggregate
Exercise Price or Strike Price (in the case of an Option or SAR, respectively) or any amount payable as a condition of delivery of Common Shares (in the case of any other Award). Such amount shall be delivered to the Participant as soon as
practicable following the cancellation of such Award or portion thereof. 
 (j) Payments to Persons Other Than Participants. If
the Committee shall find that any person to whom any amount is payable under the Plan is unable to care for his affairs because of illness or accident, or is a minor, or has died, then any payment due to such person or his estate (unless a prior
Claim therefor has been made by a duly appointed legal representative) may, if the Committee so directs the Company, be paid to his spouse, child, relative, an institution maintaining or having custody of such person, or any other person deemed by
the Committee to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor. 

(k) Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor the submission of the Plan to the stockholders
of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options or other
equity-based awards otherwise than under the Plan, and such arrangements may be either applicable generally or only in specific cases. 
 (l)
No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate, on the one hand, and a Participant
or other person or entity, on the other hand. No provision of the Plan or any Award shall require the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which
contributions are made or otherwise to segregate any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes.
Participants shall have no rights under the Plan other than as unsecured general creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the
same rights as other employees or service providers under general law. 
 (m) Reliance on Reports. Each member of the Committee
and each member of the Board shall be fully justified in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant
of the Company and its Affiliates and/or any other information furnished in connection with the Plan by any agent of or service provider to the Company or the Committee or the Board, other than himself. 

(n) Relationship to Other Benefits. No payment under the Plan shall be taken into account in determining any benefits under any
pension, retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan. 

  
 20 

 (o) Governing Law. The Plan shall be governed by and construed in accordance
with the internal laws of the State of Delaware applicable to contracts made and performed wholly within the State of Delaware, without giving effect to the conflict of laws provisions thereof. 

(p) Severability. If any provision of the Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal,
or unenforceable in any jurisdiction or as to any person or entity or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the Applicable
Laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, person or
entity or Award and the remainder of the Plan and any such Award shall remain in full force and effect. 
 (q) Obligations Binding on
Successors. The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, amalgamation, consolidation or other reorganization of the Company, or upon any successor
corporation or organization succeeding to substantially all of the assets and business of the Company. 
 (r) Code
Section 409A. 
 (i) Notwithstanding any provision of the Plan to the contrary, all
Awards made under the Plan are intended to be exempt from or, in the alternative, comply with Code Section 409A and the authoritative guidance thereunder, including the exceptions for stock rights and short-term deferrals. The Plan shall be
construed and interpreted in accordance with such intent. Each payment under an Award shall be treated as a separate payment for purposes of Code Section 409A. 

(ii) If a Participant is a “specified employee” (as such term is defined for purposes of Code Section 409A) at
the time of his termination of service, no amount that is nonqualified deferred compensation subject to Code Section 409A and that becomes payable by reason of such termination of service shall be paid to the Participant (or in the event of the
Participant’s death, the Participant’s representative or estate) before the earlier of (x) the first business day after the date that is six months following the date of the Participant’s termination of service, and
(y) within 30 days following the date of the Participant’s death. For purposes of Code Section 409A, a termination of service shall be deemed to occur only if it is a “separation from service” within the meaning of Code
Section 409A, and references in the Plan and any Award Agreement to “termination of service” or similar terms shall mean a “separation from service.” If any Award is or becomes subject to Code Section 409A, unless the
applicable Award Agreement provides otherwise, such Award shall be payable upon the Participant’s “separation from service” within the meaning of Code Section 409A. If any Award is or becomes subject to Code Section 409A and
if payment of such Award would be accelerated or otherwise triggered under a Change in Control, then the definition of Change in Control shall be deemed modified, only to the extent necessary to avoid the imposition of any additional tax under Code
Section 409A, to mean a “change in control event” as such term is defined for purposes of Code Section 409A. 

(iii) Any adjustments made pursuant to Section 13 to Awards that are subject to Code Section 409A shall be made in
compliance with the requirements of Code Section 409A, and any adjustments made pursuant to Section 13 to Awards that are not subject to Code Section 409A shall be made in such a manner as to ensure that after such adjustment, the
Awards either (x) continue not to be subject to Code Section 409A or (y) comply with the requirements of Code Section 409A. 

(s) Expenses; Gender; Titles and Headings. The expenses of administering the Plan shall be borne by the Company and its
Affiliates. Masculine pronouns and other words of masculine gender shall refer to both men and women. The titles and headings of the sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan,
rather than such titles or headings shall control. 

  
 21 

 (t) Other Agreements. Notwithstanding the above, the Committee may require, as
a condition to the grant of and/or the receipt of Common Shares or other securities under an Award, that the Participant execute lock-up, stockholder or other agreements, as it may determine in its sole and
absolute discretion. 
 (u) Payments. Participants shall be required to pay, to the extent required by Applicable Law,
any amounts required to receive Common Shares or other securities under any Award made under the Plan. 
 (v) Erroneously Awarded
Compensation. All Awards shall be subject (including on a retroactive basis) to (i) any clawback, forfeiture or similar incentive compensation recoupment policy established from time to time by the Company, including, without
limitation, any such policy established to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act, (ii) Applicable Law (including, without limitation, Section 304 of the Sarbanes-Oxley Act and Section 954 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act), and/or (iii) the rules and regulations of the applicable securities exchange or inter-dealer quotation system on which the Common Shares or other securities are listed or quoted, and
such requirements shall be deemed incorporated by reference into all outstanding Award Agreements. 

  
 22Exhibit 4.2

 

WHEN RECORDED MAIL TO:

Ameren Illinois Company

Jonathan T. Shade 

One Ameren Plaza (MC 1310)

1901 Chouteau Avenue 

St.
Louis, MO 63103

 

AMEREN ILLINOIS COMPANY 

(SUCCESSOR TO ILLINOIS POWER COMPANY)

 

TO

 

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

 

AS SUCCESSOR TRUSTEE TO

 

HARRIS
TRUST AND SAVINGS BANK

 

 

 

SUPPLEMENTAL INDENTURE

 

DATED AS OF NOVEMBER 1, 2022

 

TO

 

GENERAL MORTGAGE INDENTURE AND DEED OF TRUST

 

DATED AS OF NOVEMBER 1, 1992

 

 

This instrument was prepared by Chonda J. Nwamu, Esq., Senior
Vice President, General Counsel and Secretary of Ameren Illinois Company c/o Ameren Corporation, One Ameren Plaza, 1901 Chouteau Avenue,
St. Louis, Missouri 63103.

 

 

    1

     

    

 

SUPPLEMENTAL INDENTURE dated as of November 1,
2022 (this “Supplemental Indenture”), made by and between AMEREN ILLINOIS COMPANY (formerly named Central Illinois
Public Service Company (“CIPS”) and successor to Illinois Power Company (“IP”) pursuant to the Merger,
as defined below), a corporation organized and existing under the laws of the State of Illinois (hereinafter sometimes called the “Company”),
party of the first part, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association organized and existing under
the laws of the United States, as successor trustee to Harris Trust and Savings Bank, as Trustee (the “Trustee”) under
the General Mortgage Indenture and Deed of Trust dated as of November 1, 1992, hereinafter mentioned, party of the second part;

 

WHEREAS,
the Company has heretofore executed and delivered its General Mortgage Indenture and Deed of Trust dated as of November 1, 1992 as
from time to time amended and supplemented (the “Indenture”), to the Trustee, for the security of the Bonds issued
and to be issued thereunder (the “Bonds”); and

 

WHEREAS,
as of 12:01 a.m. Central Time (the “Effective Time”) on October 1, 2010, pursuant to the Agreement and Plan
of Merger dated as of April 13, 2010 among CIPS, IP and Central Illinois Light Company (“CILCO”), IP
and CILCO were merged with and into the Company (the “Merger”) whereby the Company is the surviving corporation; and

 

WHEREAS,
pursuant to Sections 13.01 and 14.01(a) of the Indenture, the Company and the Trustee executed the Supplemental Indenture dated as
of October 1, 2010 whereby, among other things, the Company (a) assumed the due and punctual payment of the principal of and
premium, if any, and interest, if any, on all of the Bonds then Outstanding and the performance and observance of every covenant and condition
of the Indenture to be performed or observed by IP and (b) subjected to the Lien of the Indenture all equipment and fixtures (other
than Excepted Property, which is expressly excepted and excluded from the Lien of the Indenture) that were owned by CIPS immediately prior
to the Effective Time and were of the same kind and character as the Mortgaged Property immediately prior to the Effective Time; and

 

WHEREAS,
pursuant to Sections 13.02 and 14.01(a)(i) of the Indenture, the Company has succeeded to, and has been substituted for, and may
exercise every right and power of, IP under the Indenture with the same effect as if the Company had been named the “Company”
in the Indenture; and

 

WHEREAS,
pursuant to Section 14.01(a) of the Indenture, the Company and the Trustee executed 59 Supplemental Indentures dated as
of January 15, 2011 subjecting to the Lien of the Indenture certain real property that was owned by CIPS immediately prior to the
Merger; and

 

WHEREAS,
pursuant to Section 14.01(a) of the Indenture, the Company and the Trustee executed the Supplemental Indenture dated as of October 15,
2019 whereby, among other things, the Company subjected to the Lien of the Indenture (a) all equipment and fixtures (other than Excepted
Property, which is expressly excepted and excluded from the Lien of the Indenture) that were owned by CILCO immediately prior to the Merger
and were of the same kind and character as the Mortgaged Property immediately prior to the Merger (the “CILCO Equipment and Fixtures”),
(b) all property, real, personal and mixed, acquired by the Company after the Merger (other than Excepted Property, which is expressly
excepted and excluded from the Lien of the Indenture) which constitutes an improvement, extension or addition to the CILCO Equipment and
Fixtures or a renewal, replacement or substitution of or for any part thereof, and (c) all franchises, permits, licenses, easements
and rights of way that are owned by the Company and are transferable and necessary for the operation and maintenance of the Mortgaged
Property; and

 

WHEREAS,
pursuant to Section 14.01(a) of the Indenture, the Company and the Trustee executed 20 Supplemental Indentures dated as
of December 15, 2019 subjecting to the Lien of the Indenture certain real property that was owned by CILCO immediately prior to the
Merger; and

 

    2

     

    

 

WHEREAS,
pursuant to the terms and provisions of the Indenture there were created and authorized by supplemental indentures thereto bearing the
following dates, respectively, the Bonds of the series issued thereunder and respectively identified opposite such dates:

 

	
    DATE OF

    SUPPLEMENTAL

    INDENTURE
	
    IDENTIFICATION OF SERIES
	
    CALLED

	February 15, 1993	8% Series due 2023 (redeemed)	Bonds of the 2023 Series
	March 15, 1993	6 1/8% Series due 2000 (paid at maturity)	Bonds of the 2000 Series
	March 15, 1993	6 3/4% Series due 2005 (paid at maturity)	Bonds of the 2005 Series
	July 15, 1993	7 1/2% Series due 2025 (redeemed)	Bonds of the 2025 Series
	August 1, 1993	6 1/2% Series due 2003 (paid at maturity)	Bonds of the 2003 Series
	October 15, 1993	5 5/8% Series due 2000 (paid at maturity)	Bonds of the Second 2000 Series
	November 1, 1993	Pollution Control Series M (redeemed)	Bonds of the Pollution Control Series M
	November 1, 1993	Pollution Control Series N (redeemed)	Bonds of the Pollution Control Series N
	November 1, 1993	Pollution Control Series O (redeemed)	Bonds of the Pollution Control Series O
	April 1, 1997	Pollution Control Series P (retired)	Bonds of the Pollution Control Series P
	April 1, 1997	Pollution Control Series Q (retired)	Bonds of the Pollution Control Series Q
	April 1, 1997	Pollution Control Series R (retired)	Bonds of the Pollution Control Series R
	March 1, 1998	Pollution Control Series S (redeemed)	Bonds of the Pollution Control Series S
	March 1, 1998	Pollution Control Series T (redeemed)	Bonds of the Pollution Control Series T
	July 15, 1998	6 1/4% Series due 2002 (paid at maturity)	Bonds of the 2002 Series
	September 15, 1998	6% Series due 2003 (paid at maturity)	Bonds of the Second 2003 Series
	June 15, 1999	7.50% Series due 2009 (paid at maturity)	Bonds of the 2009 Series
	July 15, 1999	Pollution Control Series U (redeemed)	Bonds of the Pollution Control Series U
	July 15, 1999	Pollution Control Series V (redeemed)	Bonds of the Pollution Control Series V
	May 1, 2001	Pollution Control Series W (retired)	Bonds of the Pollution Control Series W
	May 1, 2001	Pollution Control Series X (retired)	Bonds of the Pollution Control Series X

 

    3

     

    

 

 

	
    DATE OF

    SUPPLEMENTAL

    INDENTURE
	
    IDENTIFICATION OF SERIES
	
    CALLED

	July 1, 2002	10 5/8% Series due 2007 (not issued)	Bonds of the 2007 Series
	July 1, 2002	10 5/8% Series due 2012 (not issued)	Bonds of the 2012 Series
	December 15, 2002	11.50% Series due 2010 (redeemed)	Bonds of the 2010 Series
	June 1, 2006	Mortgage Bonds, Senior Notes Series AA (retired)	Bonds of Series AA
	August 1, 2006	Mortgage Bonds, 2006 Credit Agreement Series Bonds (retired)	2006 Credit Agreement Series Bonds
	March 1, 2007	Mortgage Bonds, 2007 Credit Agreement Series Bonds (retired) 	2007 Credit Agreement Series Bonds
	November 15, 2007	Mortgage Bonds, Senior Notes Series BB (retired)	Bonds of Series BB
	April 1, 2008	Mortgage Bonds, Senior Notes Series CC (retired)	Bonds of Series CC
	October 1, 2008	Mortgage Bonds, Senior Notes Series DD (retired)	Bonds of Series DD
	June 15, 2009	Mortgage Bonds, 2009 Credit Agreement Series Bonds (retired)	2009 Credit Agreement Series Bonds
	October 1, 2010	Mortgage Bonds, Senior Notes Series CIPS-AA	Series CIPS-AA Mortgage Bonds
	October 1, 2010	Mortgage Bonds, Senior Notes Series CIPS-BB (retired)	Series CIPS-BB Mortgage Bonds
	October 1, 2010	Mortgage Bonds, Senior Notes Series CIPS-CC	Series CIPS-CC Mortgage Bonds
	August 1, 2012	First Mortgage Bonds, Senior Notes Series EE (retired)	Bonds of Series EE
	December 1, 2013	First Mortgage Bonds, Senior Notes Series FF	Bonds of Series FF
	June 1, 2014	First Mortgage Bonds, Senior Notes Series GG	Bonds of Series GG
	December 1, 2014	First Mortgage Bonds, Senior Notes Series HH	Bonds of Series HH
	December 1, 2015	First Mortgage Bonds, Senior Notes Series II	Bonds of Series II
	November 1, 2017	3.70% First Mortgage Bonds due 2047	Bonds of the 2047 Series
	May 1, 2018	3.80% First Mortgage Bonds due 2028	Bonds of the 2028 Series 
	November 1, 2018	4.50% First Mortgage Bonds due 2049	Bonds of the 2049 Series
	October 15, 2019	First Mortgage Bonds, Senior Notes Series CILCO-AA	Series CILCO-AA Mortgage Bonds
	November 1, 2019	3.25% First Mortgage Bonds due 2050	Bonds of the 2050 Series

 

    4

     

    

 

	
    DATE OF

    SUPPLEMENTAL

    INDENTURE
	
    IDENTIFICATION OF SERIES
	
    CALLED

	November 1, 2020	1.55% First Mortgage Bonds due 2030	Bonds of the 2030 Series
	June 1, 2021	0.375% First Mortgage Bonds due 2023	Bonds of the 2023 Series
	June 1, 2021	2.90% First Mortgage Bonds due 2051	Bonds of the 2051 Series
	August 1, 2022	3.85% First Mortgage Bonds due 2032	Bonds of the 2032 Series

 

and

 

WHEREAS,
a supplemental indenture with respect to the Bonds of the 2007 Series and the Bonds of the 2012 Series listed above
was executed and filed but such Bonds of the 2007 Series and Bonds of the 2012 Series were never issued and a release
with respect to such supplemental indenture was subsequently executed and filed; and

 

WHEREAS,
pursuant to Section 14.01(a)(xi) of the Indenture, the Company and the Trustee executed a Supplemental Indenture dated as of
October 25, 2017 amending the Indenture and reserving rights to amend the Indenture; and

 

WHEREAS,
the Company desires to create a new series of Bonds to be issued under the Indenture; and

 

WHEREAS,
the Company, in the exercise of the powers and authority conferred upon and reserved to it under the provisions of the Indenture, and
pursuant to appropriate resolutions of the Board of Directors, has duly resolved and determined to make, execute and deliver to the Trustee
this Supplemental Indenture in the form hereof for the purposes herein provided; and

 

WHEREAS,
all conditions and requirements necessary to make this Supplemental Indenture a valid, binding and legal instrument have been done, performed
and fulfilled and the execution and delivery hereof have been in all respects duly authorized;

 

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE
WITNESSETH:

 

THAT the Company, in consideration of the purchase
and ownership from time to time of the Bonds and the service by the Trustee, and its successors, under the Indenture and of One Dollar
to it duly paid by the Trustee at or before the ensealing and delivery of these presents, the receipt of which is hereby acknowledged,
hereby covenants and agrees to and with the Trustee and its successors in trust under the Indenture, for the benefit of those who shall
hold Bonds, as follows:

 

ARTICLE I

 

DESCRIPTION
OF THE Bonds of the 2052 Series

 

Section 1.     The
Company hereby creates a new series of Bonds to be known as “5.90% First Mortgage Bonds due 2052” (the “Bonds of
the 2052 Series”). The Bonds of the 2052 Series shall be executed, authenticated and delivered in accordance with the provisions
of, and shall in all respects be subject to, all of the terms, conditions and covenants of the Indenture, as supplemented and modified.

 

The Bonds of the 2052 Series shall be dated
as provided in Section 3.03 of Article Three of the Indenture. The Bonds of the 2052 Series shall mature on December 1,
2052, shall accrue interest as set forth in the form of such Bonds below and shall bear interest at the rate of five and ninety hundredths
percent (5.90%) per annum. Interest on the Bonds of the 2052 Series is payable semi-annually in arrears on June 1 and December 1
of each year, commencing on June 1, 2023, until the principal sum is paid in full. Payments of principal, premium, if any, and interest
of or on the Bonds of the 2052 Series shall be payable in any coin or currency of the United States of America, which at the time
of payment is legal tender for public and private debts.

 

Section 2.     The
Bonds of the 2052 Series and the Trustee’s Certificate of Authentication shall be substantially in the following forms respectively:

 

    5

     

    

 

[FORM OF BONDS OF THE 2052 SERIES]

 

	REGISTERED	 	     REGISTERED

 

[DTC Legend

 

THIS BOND IS A GLOBAL BOND REGISTERED IN THE NAME
OF THE DEPOSITARY (REFERRED TO HEREIN) OR A NOMINEE THEREOF AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE FOR THE INDIVIDUAL BONDS REPRESENTED
HEREBY AS PROVIDED IN THE INDENTURE REFERRED TO BELOW, THIS BOND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY
OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS BOND IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK), TO THE TRUSTEE FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

 

AMEREN ILLINOIS COMPANY

 

(Incorporated under the laws of the State of Illinois)

 

Illinois
Commerce Commission

Identification No.: Ill. C.C. No. ____

 

5.90% FIRST MORTGAGE BOND DUE 2052

 

	CUSIP:	NUMBER:

ISIN:

 

	ORIGINAL ISSUE DATE: _____________	PRINCIPAL AMOUNT: $_____________ 
	INTEREST RATE: 5.90%	MATURITY DATE: December 1, 2052

 

AMEREN
ILLINOIS COMPANY, a corporation organized and existing under the laws of the State of Illinois (the “Company”), which
term shall include any Successor Corporation as defined in the Indenture hereinafter referred to, for value received, hereby promises
to pay to _____________________________, or registered assigns, the principal sum of _____________ ($______) on the Maturity Date set
forth above in any coin or currency of the United States of America, which at the time of payment is legal tender for public and private
debts, and to pay interest thereon from and including the Original Issue Date specified above or from and including the most recent Interest
Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on June 1 and December 1 of each
year, commencing on June 1, 2023, and on the Maturity Date, at the per annum Interest Rate set forth above until the principal hereof
is paid or made available for payment. No interest shall accrue on the Maturity Date, so long as the principal amount of this Bond is
paid on the Maturity Date. The principal of, premium, if any, and interest on, this Bond shall be payable at the Corporate Trust Office
of the Trustee. The interest so payable, and punctually paid or duly provided for, on any such Interest Payment Date (except for interest
payable on the Maturity Date set forth above or, if applicable, upon acceleration), will, as provided in the Indenture hereinafter referred
to, be paid to the Person in whose name this Bond is registered at the close of business on the Regular Record Date for such interest,
which shall be the May 15 or November 15, as the case may be, whether or not a Business Day, next preceding such Interest Payment
Date; provided, that the first Interest Payment Date for any part of this Bond, the Original Issue Date of which is after a Regular Record
Date but prior to the applicable Interest Payment Date, shall be the Interest Payment Date following the next succeeding Regular Record
Date; and provided further, that interest payable on the Maturity Date set forth above or, if applicable, upon acceleration, shall be
payable to the Person to whom principal shall be payable. Except as otherwise provided in the Indenture, any such interest not so punctually
paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and shall be paid to the Person
in whose name this Bond is registered at the close of business on a Special Record Date for the payment of such defaulted interest to
be fixed by the Trustee, notice whereof shall be given to Holders not more than fifteen days nor fewer than ten days prior to such Special
Record Date. A “Business Day” shall mean any weekday that is not a day on which banking institutions or trust
companies in the Borough of Manhattan, the City and State of New York, or in the city where the Corporate Trust Office of the Trustee
is located, are obligated or authorized by law or executive order to close.

 

    6

     

    

 

This Bond is one of a duly authorized issue of
Bonds of the Company (the “Bonds”) in unlimited aggregate principal amount except as provided in the Indenture, of
the series hereinafter specified, all issued and to be issued under and equally secured by the General Mortgage Indenture and Deed of
Trust (as amended and supplemented, the “Indenture”), dated as of November 1, 1992, executed by the Company (as
successor to Illinois Power Company) to The Bank of New York Mellon Trust Company, N.A., as successor trustee to Harris Trust and Savings
Bank (the “Trustee”), to which Indenture reference is hereby made for a description of the properties mortgaged and
pledged, the nature and extent of the security, the rights of registered owners of the Bonds and of the Trustee in respect thereof, and
the terms and conditions upon which the Bonds are, and are to be, secured. The Bonds may be issued in series, for various principal sums,
may mature at different times, may bear interest at different rates and may otherwise vary as provided in the Indenture. This Bond is
one of a series designated as the Bonds of the 2052 Series of the Company, unlimited in aggregate principal amount except as provided
in the Indenture, issued under and secured by the Indenture and described in the Supplemental Indenture dated as of November 1, 2022,
between the Company and the Trustee, supplemental to the Indenture.

 

Each Bond of this Series shall be dated and
issued as of the date of its authentication by the Trustee and shall bear an Original Issue Date. Each Bond of this Series issued
upon transfer, exchange or substitution of such Bond shall bear the Original Issue Date of such transferred, exchanged or substituted
Bond, as the case may be.

 

The Bonds of this Series shall be issued in
minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

Interest on this Bond will accrue from and including
the Original Issue Date specified above to, but excluding, June 1, 2023, and thereafter from and including each Interest Payment
Date to, but excluding, the next succeeding Interest Payment Date or the Maturity Date, as the case may be.

 

All or a portion of the Bonds of this Series may
be redeemed at the option of the Company at any time or from time to time (each, a “Redemption Date”).

 

Prior to June 1, 2052 (six months prior to
the Maturity Date) (the “Par Call Date”), the Company may redeem the Bonds of this Series at its option in whole
or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three
decimal places) equal to the greater of:

 

(1)            (a) the
sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming
the Bonds of this Series to be redeemed matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate (as defined below) plus 25 basis points less (b) interest accrued to the Redemption
Date, and

 

    7

     

    

 

(2)            100%
of the principal amount of the Bonds of this Series to be redeemed,

 

plus, in either case, accrued and unpaid interest thereon to the Redemption
Date.

 

On or after the Par Call Date, the Company may
redeem the Bonds of this Series at its option, in whole or in part, at any time and from time to time, at a redemption price equal
to 100% of the principal amount of the Bonds of this Series being redeemed plus accrued and unpaid interest thereon to the Redemption
Date.

 

“Treasury Rate” means, with
respect to any Redemption Date, the yield determined by the Company in accordance with the following two paragraphs.

 

The Treasury Rate shall be determined by the Company
after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors
of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the yield or yields for the most recent
day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal
Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or any successor designation or publication) (“H.15”)
under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption
or heading) (“H.15 TCM”). In determining the Treasury Rate, the Company shall select, as applicable:

 

(1)            the
yield for the Treasury constant maturity on H.15 exactly equal to the period from the Redemption Date to the Par Call Date (the “Remaining
Life”); or

 

(2)            if
there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding
to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15
immediately longer than the Remaining Life—and shall interpolate to the Par Call Date on a straight-line basis (using the actual
number of days) using such yields and rounding the result to three decimal places; or

 

(3)            if
there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury
constant maturity on H.15 closest to the Remaining Life.

 

For purposes of this paragraph, the applicable Treasury constant maturity
or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such
Treasury constant maturity from the Redemption Date.

 

If on the third Business Day preceding the Redemption
Date H.15 TCM or any successor designation or publication is no longer published, the Company shall calculate the Treasury Rate based
on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business
Day preceding such Redemption Date of the United States Treasury security maturing on, or with a maturity that is closest to, the Par
Call Date, as applicable. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United
States Treasury securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call
Date and one with a maturity date following the Par Call Date, the Company shall select the United States Treasury security with a maturity
date preceding the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more
United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or more
United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid
and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance
with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon
the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United
States Treasury security, and rounded to three decimal places.

 

The Company’s actions and determinations
in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error.

 

    8

     

    

 

The Trustee shall have no duty to determine, or
to verify the Company’s calculations of, the redemption price.

 

With respect to a redemption occurring prior to
the Par Call Date, the Company shall give the Trustee written notice of the redemption price promptly after the calculation thereof and
the Trustee shall not be responsible for such calculation.

 

The Company shall send notice of any redemption
at least 10 days but not more than 60 days before the Redemption Date to each holder of the Bonds of this Series to be redeemed,
and, if less than all Bonds of this Series are to be redeemed, the particular Bonds of this Series to be redeemed will be selected
by the Trustee by lot; provided that as long as the Bonds of this Series are represented by global certificates registered in the
name of The Depository Trust Company, or its nominee, beneficial interests in such global certificates will be selected for redemption
by The Depository Trust Company in accordance with its standard procedures therefor.

 

Any notice of redemption at the Company’s
option may state that such redemption will be conditional upon receipt by the Trustee, on or prior to the Redemption Date, of money sufficient
to pay the principal of, premium, if any, and interest on the Bonds of this Series or portions thereof called for redemption, and
that if such money has not been so received, such notice will be of no force and effect and the Company will not be required to redeem
such Bonds or portions thereof. Unless the Company defaults in payment of the redemption price, on and after the Redemption Date, interest
will cease to accrue on the Bonds of this Series or portions thereof called for redemption.

 

Interest payments for this Bond shall be computed
and paid on the basis of a 360-day year consisting of twelve 30-day months (and for any partial periods shall be calculated on the basis
of the number of days elapsed in a 360-day year consisting of twelve 30-day months). If any Interest Payment Date falls on a day that
is not a Business Day, the interest due on such Interest Payment Date will be paid on the next succeeding Business Day (and without any
interest or other payment in respect of any such delay). If the Maturity Date of this Bond or any redemption date falls on a day that
is not a Business Day, the payment of principal, premium, if any, and interest will be made on the next succeeding Business Day with the
same force and effect as if made on the Maturity Date or such redemption date, and no interest on such payment shall accrue for the period
from and after the Maturity Date or such redemption date.

 

The Company, at its option, and subject to the
terms and conditions provided in the Indenture, will be discharged from any and all obligations in respect of the Bonds of this Series (except
for certain obligations including obligations to register the transfer or exchange of Bonds of this Series, replace stolen, lost or mutilated
Bonds of this Series, maintain paying agencies and hold monies for payment in trust, all as set forth in the Indenture) if the Company
deposits with the Trustee money, Government Obligations which through the payment of interest thereon and principal thereof in accordance
with their terms will provide money, or a combination of money and Government Obligations, in any event in an amount sufficient, without
reinvestment, to pay all the principal of and any premium and interest on the Bonds of this Series on the dates such payments are
due in accordance with the terms of the Bonds of this Series.

 

In case an Event of Default, as defined in the
Indenture, shall occur and be continuing, the principal of all Bonds at any such time outstanding under the Indenture may be declared
or may become due and payable, upon the conditions and in the manner and with the effect provided in the Indenture. The Indenture provides
that such declaration may be rescinded under certain circumstances.

 

The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modifications of the rights and obligations of the Company and the rights of the Holders
under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount
of the outstanding Bonds of all series directly affected by such amendment or modifications, considered as one class. Each initial and
future Holder of this Bond, by its acquisition of an interest in this Bond, irrevocably (a) consents to the amendments set forth
in Article I of the Supplemental Indenture dated as of October 25, 2017, supplemental to the Indenture, without any other or
further action by any Holder of this Bond, and (b) designates the Trustee, and its successors, as its proxy with irrevocable instructions
to vote and deliver written consents on behalf of such Holder in favor of such amendments at any meeting of Holders, in lieu of any meeting
of Holders, in any consent solicitation or otherwise. Any such consent or waiver by the Holder of this Bond shall be conclusive and binding
upon such Holder and upon all future Holders of this Bond and of any Bond issued upon the registration of transfer hereof or in exchange
therefor or in lieu thereof whether or not notation of such consent or waiver is made upon this Bond.

 

    9

     

    

 

As set forth in and subject to the provisions of
the Indenture, no Holder of any Bonds will have any right to institute any proceeding with respect to the Indenture or for any remedy
thereunder unless such Holder shall have previously given to the Trustee written notice of a continuing Event of Default with respect
to such Bonds, the Holders of a majority in aggregate principal amount of the outstanding Bonds shall have made written request and offered
reasonable indemnity to the Trustee to institute such proceeding as Trustee and the Trustee shall have failed to institute such proceeding
within 60 days after its receipt of such notice; provided, however, that such limitations do not apply to a suit instituted by the Holder
hereof for the enforcement of payment of the principal of and any premium or interest on this Bond on or after the respective due dates
expressed herein.

 

No reference herein to the Indenture and to provisions
of this Bond or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and any premium and interest on this Bond at the times, places and rates and the coin or currency prescribed in the Indenture.

 

As provided in the Indenture and subject to certain
limitations therein set forth, this Bond may be transferred only as permitted by the legend hereto and the provisions of the Indenture.

 

This Bond shall be governed by and construed in
accordance with the laws of the State of Illinois, except to the extent that the law of any other jurisdiction shall be mandatorily applicable.

 

This Bond shall not be entitled to any benefit
under the Indenture or any indenture supplemental thereto, or become valid or obligatory for any purpose, until the form of certificate
endorsed hereon shall have been signed by or on behalf of The Bank of New York Mellon Trust Company, N.A., as successor trustee to Harris
Trust and Savings Bank, the Trustee under the Indenture, or a successor trustee thereto under the Indenture.

 

All terms used in this Bond that are defined in
the Indenture shall have the meanings assigned to them in the Indenture unless otherwise indicated herein.

 

IN WITNESS WHEREOF, Ameren Illinois Company has
caused this Bond to be signed (manually or by facsimile signature) in its name by an Authorized Executive Officer, as defined in the aforesaid
Indenture, and attested (manually or by facsimile signature) by an Authorized Executive Officer, as defined in such Indenture on the date
hereof.

 

	Dated: 	 
	 	 
	 	AMEREN ILLINOIS COMPANY
	 	 
	 	By:	                             
	 	AUTHORIZED EXECUTIVE OFFICER

 

	ATTEST:	 
	 	 
	By:	                                 	 
	AUTHORIZED EXECUTIVE OFFICER	 

 

    10

     

    

 

[FORM OF TRUSTEE’S CERTIFICATE OF
AUTHENTICATION]

 

This is one of the Bonds of the series designated
therein referred to in the within mentioned Indenture and the Supplemental Indenture dated as of November 1, 2022.

 

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

as successor trustee to 

Harris
Trust and Savings Bank, 

TRUSTEE,

 

By:______________________________ 

AUTHORIZED SIGNATORY

 

ARTICLE II

 

REDEMPTION
AND CONSENT TO aMENDMENTS

 

Section 1.     The
Bonds of the 2052 Series are redeemable as set forth in the form of such Bonds in Article I hereof. If the Company elects to
redeem any Bonds of the 2052 Series, it shall notify the Trustee of the redemption date and the principal amount of such Bonds of the
2052 Series to be redeemed not less than 15 days nor more than 90 days before such redemption date.

 

Section 2.     Each
initial and future Holder of the Bonds of the 2052 Series, by its acquisition of an interest in such Bonds, irrevocably (a) consents
to the amendments set forth in Article I of the Supplemental Indenture dated as of October 25, 2017, supplemental to the Indenture,
without any other or further action by any Holder of such Bonds, and (b) designates the Trustee, and its successors, as its proxy
with irrevocable instructions to vote and deliver written consents on behalf of such Holder in favor of such amendments at any meeting
of Holders, in lieu of any meeting of Holders, in any consent solicitation or otherwise.

 

ARTICLE III

 

ISSUE
OF THE Bonds of the 2052 Series

 

Section 1.     The
Company hereby exercises the right to obtain the authentication of $350,000,000 principal amount of additional Bonds pursuant to the terms
of the Indenture, all of which shall be Bonds of the 2052 Series.

 

Section 2.     Such
Bonds of the 2052 Series may be authenticated and delivered prior to the filing for recordation of this Supplemental Indenture.

 

Section 3.     After
the authentication of such Bonds of the 2052 Series, without the consent of any existing Holder of the Bonds of the 2052 Series, the Company
may thereafter obtain from time to time the authentication of additional Bonds of the 2052 Series pursuant to the terms of the Indenture
by Company Order referring to this Supplemental Indenture having the same terms and conditions as the Outstanding Bonds of the 2052 Series in
all respects (including the same CUSIP number), except for the date of original issuance, the offering price and, if applicable, the initial
interest accrual date and the initial Interest Payment Date.

 

    11

     

    

 

ARTICLE IV

 

THE
TRUSTEE

 

The Trustee hereby accepts the trusts hereby declared
and provided, and agrees to perform the same upon the terms and conditions in the Indenture set forth and upon the following terms and
conditions:

 

The Trustee shall not be responsible in any manner
whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or the due execution hereof by the Company
or for or in respect of the recitals contained herein, all of which recitals are made by the Company solely. In general, each and every
term and condition contained in Article Eleven of the Indenture shall apply to this Supplemental Indenture with the same force and
effect as if the same were herein set forth in full, with such omissions, variations and modifications thereof as may be appropriate to
make the same conform to this Supplemental Indenture.

 

ARTICLE V

 

MISCELLANEOUS
PROVISIONS

 

Except as otherwise defined herein, capitalized
terms defined in the Indenture are used herein as therein defined. This Supplemental Indenture may be simultaneously executed in any number
of counterparts, each of which when so executed shall be deemed to be an original; but such counterparts shall together constitute but
one and the same instrument.

 

The Indenture, as supplemented and amended by this
Supplemental Indenture and all other indentures supplemental thereto, is in all respects ratified and confirmed, and the Indenture, this
Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument.

 

    12

     

    

 

IN WITNESS WHEREOF, said Ameren Illinois Company
has caused this Supplemental Indenture to be executed on its behalf by an Authorized Executive Officer as defined in the Indenture, and
this Supplemental Indenture to be attested by an Authorized Executive Officer as defined in the Indenture; and said The Bank of New York
Mellon Trust Company, N.A., as successor trustee to Harris Trust and Savings Bank, in evidence of its acceptance of the trust hereby created,
has caused this Supplemental Indenture to be executed on its behalf by one of its Vice Presidents and this Supplemental Indenture to be
attested by its Secretary or one of its Vice Presidents; all as of November 1, 2022.

 

AMEREN ILLINOIS COMPANY

 

	 	By:	/s/ Darryl T. Sagel 
	 		Name:	Darryl T. Sagel 
	 		Title:	Vice President and Treasurer

 

ATTEST:

 

	By:	/s/ Jonathan T. Shade	 
		Name:	 Jonathan T. Shade	 
		Title:	Assistant Secretary	 

 

    13

     

    

 

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

successor trustee to 

Harris
Trust and Savings Bank, 

TRUSTEE,

 

	 	By:	/s/ Ann M. Dolezal
	 		Name:	Ann
M. Dolezal
	 		Title:	Vice President

 

ATTEST:

 

	By:	/s/
    Vassilena Ouzounova	 
		Name:	 Vassilena
Ouzounova	 
		Title:	Vice President	 

 

    14

     

    

 

	STATE OF MISSOURI	)	 
	 	 	ss.
	CITY OF ST. LOUIS	)	 

 

BE IT REMEMBERED, that on this 10 day of November,
2022, before me, the undersigned, a Notary Public within and for the City and State aforesaid, personally came Darryl T. Sagel, Vice President
and Treasurer, of Ameren Illinois Company, a corporation duly organized, incorporated and existing under the laws of the State of Illinois,
who is personally known to me to be such officer, and who is personally known to me to be the same person who executed as such officer
the within instrument of writing, and such person duly acknowledged that they signed and delivered the said instrument as their free and
voluntary act as such officer and as the free and voluntary act of said Ameren Illinois Company for the uses and purposes therein set
forth.

 

IN WITNESS WHEREOF, I have hereunto subscribed
my name and affixed my official seal on the day and year last above written.

 

	 	/s/
    Jennifer L. Schalk 
	 	NOTARY PUBLIC
	 	 
	 	Jennifer L. Schalk 
	 	Notary Public Notary Seal 
	 	State of Missouri 
	 	St. Louis City County 
	 	My Commission Expires 1/10/2026 
	 	Commission # 22195105

 

	STATE OF MISSOURI	)	 
	 	 	ss.
	CITY OF ST. LOUIS	)	 

 

BE IT REMEMBERED, that on this 14 day of November,
2022, before me, the undersigned, a Notary Public within and for the City and State aforesaid, personally came Jonathan T. Shade, Assistant
Secretary, of Ameren Illinois Company, a corporation duly organized, incorporated and existing under the laws of the State of Illinois,
who is personally known to me to be such officer, and who is personally known to me to be the same person who executed as such officer
the within instrument of writing, and such person duly acknowledged that they signed and delivered the said instrument as their free and
voluntary act as such officer and as the free and voluntary act of said Ameren Illinois Company for the uses and purposes therein set
forth.

 

IN WITNESS WHEREOF, I have hereunto subscribed
my name and affixed my official seal on the day and year last above written.

 

	 	/s/ Heather
    Bruns
	 	NOTARY PUBLIC
	 	 
	HEATHER BRUNS	
	NOTARY PUBLIC – NOTARY SEAL	
	STATE OF MISSOURI 	
	MY COMMISSION EXPIRES NOVEMBER 18, 2025 	
	ST. LOUIS CITY	
	COMMISSION # 09737348	

 

    15

     

    

 

	STATE OF ILLINOIS	)	 
	 	 	ss.
	COUNTY OF COOK	)	 

 

BE IT REMEMBERED, that on this 10th day of November,
2022, before me, the undersigned, a Notary Public within and for the State aforesaid, personally came Ann M. Dolezal, Vice President and
Vassilena Ouzounova, Vice President, of The Bank of New York Mellon Trust Company, N.A., a national banking association duly organized,
incorporated and existing under the laws of the United States, who are personally known to me or proved to me on the basis of satisfactory
evidence to be the same persons who executed as such officers the within instrument of writing, and such persons duly acknowledged that
they signed and delivered the said instrument as their free and voluntary act as such Vice President and Vice President, and as the free
and voluntary act of said The Bank of New York Mellon Trust Company, N.A. for the uses and purposes therein set forth.

 

IN WITNESS WHEREOF, I have hereunto subscribed
my name and affixed my official seal on the day and year last above written.

 

	 	/s/
    Savas Apostolakis
	 	NOTARY PUBLIC
	 	 
	 	Official Seal
	 	Savas Apostolakis
	 	Notary Public – State of Illinois
	 	My Commission Expires: 03/25/2026

 

    16

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