Document:

Separation Agreement with former Chief Executive Officer and President

 Exhibit 10.1 

 
 

 
 May 25, 2012 
 Patrick J. Byrne 
 ________________ 
 ________________ 
 Re: Separation Agreement 

Dear Pat: 
 This letter agreement (this
“Agreement”) sets forth the terms and conditions for your separation from Intermec, Inc. and its subsidiaries and affiliates (collectively, the “Company” (unless the context provides otherwise)). If you accept this Agreement and
execute the attached General Release of Claims (“General Release”) within the time specified in paragraph 13(a), and do not revoke the General Release within the time specified, the following terms and conditions will apply. Certain
capitalized terms used in this Agreement have the meanings set forth in paragraph 20 herein. 
 1. Officer Status and Remaining Employment
Period 
 As you know, the Board of Directors of the Company removed you as Chief Executive Officer and President of the Company, as of
the close of business on April 30, 2012. We acknowledge your resignation from your Directorship with the Company and all your other offices and positions with the subsidiaries of the Company effective the same date. You will remain an employee
of the Company until May 11, 2012 (the “Separation Date”), at which time your employment will end. Until such Separation Date, you have been designated as a Senior Officer, and accordingly have remained eligible for benefits under the
Intermec, Inc. Senior Officer Severance Plan (“Severance Plan”) in the case of an involuntary termination without cause. For purposes of the Severance Plan, your termination of employment is considered an involuntary termination of
employment by the Company without cause. 
 2. Payments Following Separation 

Provided that you execute this Agreement and sign and do not revoke the General Release attached hereto as Exhibit A, the Company will make the following
payments (or provide the described benefits) to you pursuant to the terms herein: 
  

	 	(a)	the amount of One Million Four Hundred Forty-Two Thousand Dollars ($1,442,000), which is an amount equal to two times your annual base salary for 2012;

  

	 	(b)	the amount of Seventeen Thousand Three Hundred Five Dollars ($17,305), which is an amount equal to twelve times the monthly COBRA premium for your current level
of medical and dental benefits ($1,442.05); this amount is intended to help cover the cost of COBRA coverage as described in paragraph 3, below, but is not required to be applied to such coverage; 

 Patrick J. Byrne 
 May 25, 2012 
  Page
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	 	(c)	outplacement services (paid by the Company) for one year under the premium executive program offered by the Company’s outplacement provider; and

  

	 	(d)	the amount of Four Hundred Fifty Thousand Dollars ($450,000) in additional consideration for your agreements and promises in this Agreement, including, but not
limited to: 

  

	 	(i)	your waiver pursuant to this Agreement (including paragraph 13(b)) of any amount that you may be eligible for or be owed by the Company, if any, as the Annual Bonus
Amount (as such term is defined under the Severance Plan) under the Severance Plan for 2012; and 

  

	 	(ii)	your transition assistance and future cooperation provided pursuant paragraph 8 hereof. 

 The payments described in this paragraph 2 will be made as soon as practicable after the General Release becomes irrevocable pursuant to its terms, and in any event by no later than July 26, 2012.
You acknowledge that the payments described in this paragraph 2 are in satisfaction of any benefits for which you may be eligible under the Severance Plan and any other agreements or arrangements between you and the Company and, except as otherwise
specifically provided for herein, that there are no other salary, wages, bonuses, accrued vacation/paid time off, leave, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock,
stock options, vesting continuation, or any other benefits or compensation due to you or that have not already been fully paid. You also acknowledge and agree that in order to receive the payments described hereunder, the General Release must be
signed by you on or after May 26, 2012. Any payments provided under this Agreement will be subject to required income tax withholding or other applicable deductions and any such withholdings or deductions will not, for the avoidance of doubt,
constitute payments received by you for purposes of paragraph 16(d) below. 
 3. COBRA Coverage 

Following the Separation Date, you will be notified of your right to elect the continuation of certain group health plan coverage in compliance with the
federal law known as COBRA. If you timely elect COBRA coverage for you and/or your eligible family members, you will be solely responsible for payment of the related premiums and such continuation coverage will be subject to and in accordance with
all provisions of COBRA and the applicable group plan. 
 4. Stock Options, Restricted Stock Units, Performance Based Restricted Stock
Units and Performance Share Units 
 Your outstanding vested and unvested stock options (“SOs”), restricted stock units
(“RSUs”), performance based restricted stock units (“PBRSUs”) and performance share units (“PSUs”) as of the Separation Date are summarized in Exhibit B to this Agreement. Your rights with respect to these vested and
unvested SOs, RSUs, PBRSUs and PSUs are set forth in the agreements evidencing such grants. The summary in Exhibit B is subject to and qualified by the terms of the relevant agreements and plan documents. 

5. Retirement Benefits 
 Your
rights, if any, under the Intermec 401(k) Plan and the Intermec Deferred Compensation Plan (“DCP”) are set forth in the documents governing those plans. You should be aware that you must be treated as a “specified employee” under
Internal Revenue Code Section 409A, so that any payment due you under the DCP as a result of your termination of employment will be delayed for six months after your Separation Date in accordance with the terms of the DCP. 

 Patrick J. Byrne 
 May 25, 2012 
  Page
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6. Securities Trading 
 Through the
Separation Date, you will continue to be subject to the Company’s policies and procedures that preclude designated employees from directly or indirectly trading Intermec securities during prohibited “blackout” periods, and that
require these employees to obtain a clearance before engaging in transactions at other times. If the Separation Date occurs during a blackout period, you will continue to be subject to the blackout period until it ends. 

7. Reporting 
 You acknowledge and
agree that information concerning your transition and the actual or anticipated compensation and other payments and benefits due to you under this Agreement must be properly reported by you and the Company to the appropriate governmental authorities
and in appropriate filings. You agree to cooperate with the Company in reporting that information to the appropriate authorities and in appropriate filings. 
 8. Transition Assistance and Future Cooperation 
 You agree to be reasonably
available during the first three months following the Separation Date to answer questions and assist with transition issues as reasonably requested by the Company’s Chief Executive Officer or Board of Directors, such transitional support not to
exceed ten (10) hours per month. In addition, after the Separation Date, you will reasonably cooperate with and assist the Company in its prosecution or defense of litigation, claims, and Company or governmental investigations or audits if you
have relevant information or may be a witness. The Company will reimburse you for the reasonable expenses you incur due to such cooperation and assistance. 
 9. Non-Competition 
 During the one (1) year period following the Separation
Date you will not (except with the prior written consent of the Company) directly or indirectly: (a) engage in, be employed by, perform services for, participate in the ownership, management, control or operation of a Tier I Company; or
(b) engage in any activity with a Tier I Company or a Tier II Company if that activity conflicts or materially interferes with the economic or business interests or contractual relationships of the Company or any subsidiary or affiliate
thereof. If you are presented with an opportunity to work for any such company, please contact me so we can discuss the possibility of the Company giving its consent. 
 10. Non-Solicitation 
 While employed by the Company and during the one (1) year
period following the Separation Date, you will not directly or indirectly: (a) solicit or entice any employee of the Company to terminate or reduce his or her employment with the Company or (b) hire (as an employee, independent contractor
or otherwise) on your own behalf or on behalf of another Person any employee of the Company. 
 11. Non-Disparagement 

You and the Company agree that (a) the Company’s directors and officers will not make any disparaging or derogatory remarks (whether oral or
written) about you and (b) you will not make any disparaging or derogatory remarks (whether oral or written) about the Company, its subsidiaries or affiliates or their officers, directors,

 Patrick J. Byrne 
 May 25, 2012 
  Page
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employees or agents, or make any other remark or statement (whether oral or written) or engage in any conduct that is detrimental to the businesses or reputations of any of those persons or
entities or their directors, officers or employees. 
 This paragraph 11 is not intended to and does not prevent you or the Company from
making truthful statements when required by law or order of a court or government agency of competent jurisdiction. If you receive legal process requiring such statements, you will promptly notify the Company and cooperate with the Company in
seeking a protective order or in taking other appropriate action with respect to such legal process. 
 12. Confidentiality and
Non-Use 
 You acknowledge and agree that information not generally known to the public that relates to the business, technology,
customers, prospects, employees, finances, legal activities, plans, proposals, policies or practices of the Company or of any third parties doing business with the Company is confidential information (“Confidential Information”) and the
sole property of the Company. You further acknowledge and agree that Confidential Information includes, but is not limited to, the trade secrets, strategic plans, business plans, legal strategies, legal plans, software programs, financial data,
customer lists, identities of customers and prospects, marketing plans, nonpublic financial information, any other information about the Company (which the Company designates as “confidential”) and all other information about the Company
that is not generally known to the public. Confidential Information does not include (a) information that is or becomes generally known to the public through no fault of your own or (b) information received by you from a third party
without a duty of confidentiality. 
 At all times during your employment by the Company and continuing through the Separation Date, you will
not copy or in any way use any Confidential Information for any purpose other than in the discharge of your duties as an employee of the Company and you will not disclose any Confidential Information to any Person other than the officers, directors,
employees and agents of the Company without the Company’s prior consent. The preceding sentence is not intended to and does not prevent you from making truthful statements when required by law or order of a court or government agency of
competent jurisdiction. If you receive legal process requiring such statements, you will promptly notify the Company and cooperate with the Company in seeking a protective order or taking other appropriate action with respect to such legal process.

 Following the Separation Date, you will not disclose to any third party, or use any Confidential Information without the Company’s prior
written consent. The preceding sentence is not intended to and does not prevent you from making truthful statements when required by law or order of a court or government agency of competent jurisdiction. If you receive legal process requiring such
statements, you will promptly notify the Company and cooperate with the Company in seeking a protective order or taking other appropriate action with respect to such legal process. 
 On or before the Separation Date, you will deliver to the Company, and not keep or deliver to anyone else, any and all notes, files, memoranda, papers, electronic files and, in general, any and all
physical material containing Confidential Information, including without limitation, any and all physical materials relating to the conduct of business of the Company or any subsidiary or affiliate of the Company which are in your possession, except
for (a) any documents for which the Company or any subsidiary or affiliate of the Company has given written consent to removal at the time of the termination of your employment with the Company; and (b) your personal rolodex, phone book
and similar items. Following the Separation Date, you will not use any computer access code or password issued to or created by you during your employment and you will not access any computer or database in the possession, custody or control of the
Company. 

 Patrick J. Byrne 
 May 25, 2012 
  Page
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13. General Release of Claims and Waiver 
 (a) Following the Separation Date, you will have twenty-five (25) calendar days to review (with your legal counsel if you wish), sign and return to me the General Release. If you sign the General
Release and return it to the Company within such 25-day period, you will have an additional seven (7) calendar days from the date you executed the General Release to revoke it. If you do not revoke the General Release within such 7-day period,
it will become binding, enforceable and irrevocable on the day after that revocation period expires. As noted above, to be effective, the General Release must be executed by you on or after May 26, 2012. 

(b) You hereby waive and disclaim any right to any amount that you may be eligible for or be owed by the Company, if any, as the Annual Bonus Amount
under the Severance Plan for 2012. 
 14. Company Disclosures Relating To This Agreement 

As you know, the Company is a publicly-traded company and may be required by law to publicly disclose the signing of this Agreement and some or all of its
terms. You agree that the Company may make such disclosures to the extent that the Company, in its sole discretion, deems necessary or appropriate to comply with the laws and regulations within or outside of the United States that apply to
publicly-traded companies. 
 15. Other Disclosures Relating To This Agreement 

Following the Separation Date, you will not make any statements, whether oral or written, to any person or entity (other than in confidence to your
personal legal and financial advisers or to your spouse) concerning this Agreement without the Company’s prior written consent. The preceding sentence is not intended to and does not prevent you from making truthful statements when required by
law or order of a court or government agency of competent jurisdiction. If you receive legal process requiring such statements, you will promptly notify the Company and cooperate with the Company in seeking a protective order or taking other
appropriate action with respect to such legal process. 
 16. Possible Benefit Termination and Clawback 

(a) Notwithstanding any other provision of this Agreement, the Company has the right (but not the obligation) to withhold any payments due to you in the
future if the Company determines, in its reasonable discretion, that you have materially breached any provisions of this Agreement or that the Company reasonably believes, based on objective evidence, you are going to materially breach one or more
thereof. 
 (b) Notwithstanding any other provision of this Agreement, the Company has the right (but not the obligation) to withhold the
payments described in paragraph 2 if you choose not to sign and return to the Company the General Release attached as Exhibit A within the 25-day period specified in paragraph 13(a) and paragraph 2 of Exhibit A or if you exercise your right to
revoke that General Release of Claims within the 7-day revocation period specified in paragraph 13(a) of this Agreement and paragraph 3 of Exhibit A. 
 (c) The Company’s rights under paragraph 16 of this Agreement are not exclusive of any other rights the Company may have under other provisions of this Agreement. 

(d) If you materially violate any of the provisions of this Agreement after you have received the payments described in paragraph 2, you shall be
required to repay to the Company in a single lump sum an amount equal to the aggregate total of those payments within thirty (30) days following the date of such violation. 

 Patrick J. Byrne 
 May 25, 2012 
  Page
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 (e)
The rights and remedies set forth in this paragraph 16 are in addition to, and not in lieu of, any other right or remedy afforded the Company under any other provision of this Agreement or any other Company clawback or recovery policy or arrangement
or at law, in equity or otherwise. 
 17. Enforcement of This Agreement  
 You agree that if you materially breach any provision in paragraphs 6 through 12 or paragraph 15 of this Agreement, the Company, its subsidiaries and its affiliates will sustain immediate and irreparable
injury. In the event of such a breach, the Company may file any claim for breach of or to enforce this Agreement in any court of law or tribunal of competent jurisdiction. 
 18. Notices 
 Any and all notices, demands, or other communications required or
desired to be given hereunder by any party hereto shall be in writing and shall be validly given or made to another party hereto if personally served or if sent by an established overnight delivery service for delivery the next business day to the
addresses set out below. If such notice or demand is served personally, notice shall be deemed constructively made at the time of such personal service. If such notice, demand or other communication is sent by overnight delivery service such notice
shall be conclusively deemed given three (3) days after it is sent. 
 If to Company: 

Jeanne Lyon 
 Vice President, Human Resources 
 Intermec, Inc. 

6001 36th Avenue West 
 Everett, WA 98203 
  

	 	With	a copy to (not deemed notice): 

 Yukio Morikubo 
 Senior Vice President and General Counsel

 Intermec, Inc. 

6001 36th Avenue West 
 Everett, WA 98203 

 Patrick J. Byrne 
 May 25, 2012 
  Page
 7
 
  
 If
to Patrick J. Byrne: 
 Patrick J. Byrne 

________________ 
 ________________ 
 Any party hereto may change its address for purposes of this paragraph 18 by
written notice given in the manner provided above. 
 19. Miscellaneous 
 (a) Entire Agreement. The parties hereto agree that this Agreement and the Exhibits thereto contain the entire agreement and understanding of the parties with respect to your separation from
the Company and that there are no promises or terms of the agreement between the parties other than those expressly written in this Agreement. 

(b) Binding Effect. This Agreement shall be binding on the parties hereto and their respective successors, heirs, beneficiaries, permitted
assigns, subsidiaries and affiliates. 
 (c) Assignment. This Agreement is personal to you and is not assignable by you. The
Company may assign its rights hereunder to (i) any other corporation resulting from any merger, consolidation or other reorganization to which the Company is a party; (ii) any other corporation, partnership, association or other Person to
which the Company may transfer all or substantially all of the assets and business of the Company existing at such time; or (iii) any subsidiary, parent or other affiliate of the Company. 

(d) Third Party Beneficiaries. This Agreement is only for the benefit of, and is only enforceable, by you and the Company,
its subsidiaries and affiliates and their officers, directors, employees, agents, successors and assigns. This Agreement is not intended to and shall not be construed to confer any right or benefit on any third party other than those identified in
the preceding sentence. 
 (e) Severability. If any provision or term of this Agreement is determined by a court of law or
government tribunal to be unenforceable, then such unenforceable provision or term will be modified so as to make it enforceable, or if that is not possible, then it will be deleted from this Agreement, and the remaining part of the Agreement shall
remain in full, force and effect. 
 (f) Amendments, Waivers and Modification. No amendment, waiver or modification of this
Agreement will be enforceable unless it is in writing, signed by authorized representatives of each of the parties hereto. 
 (g)
Controlling Law. To the extent not preempted by federal law, this Agreement will be interpreted, construed and enforced in all respects in accordance with the laws of the State of Washington, without reference to its choice of law or
conflict of laws principles. 
 (h) Consent to Jurisdiction. The parties hereto hereby irrevocably consent to the jurisdiction,
service and venue of courts located in Seattle, Washington with respect to suits, actions, proceedings and claims arising under or by reason of this Agreement. 
 (i) No Admission. Nothing in this Agreement shall be construed as an admission by the Company or any Releasee with respect to any Claim (as such terms are defined in Exhibit A hereto).

 Patrick J. Byrne 
 May 25, 2012 
  Page
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 (j)
Headings. The headings to the various sections of this Agreement have been inserted for the convenience of the parties hereto only. They shall not be used to interpret or construe the meaning of the terms and provisions of those
sections. 
 (k) Waivers. No delay or failure by any party hereto in exercising, protecting or enforcing any of its rights, title,
interests or remedies hereunder, and no course of dealing or performance with respect thereto, shall constitute a waiver thereof. The express waiver by a party hereto of any right, title, interest or remedy in a particular instance or circumstance
shall not constitute a waiver thereof in any other instance or circumstance. All rights and remedies shall be cumulative and not exclusive of any other rights or remedies. 
 (l) Counterparts. This Agreement may be signed in counterparts and, subject to paragraph 13(a), when each party has signed a counterpart, the Agreement shall be final and binding upon the
Parties. 
 20. Additional Definitions 
 For purposes of this Agreement, the following definitions apply: 
 (a) “AIDC
Industry” means companies that sell, offer to sell, lease or offer to lease in any geographic market (i) products that print, capture or collect data via automatic means (including but not limited to barcode, printing, scanning or
imaging, radio frequency identification (“RFID”), smart cards, optical character recognition (“OCR”) or magnetic strips) and subsequently store such data on a microprocessor-controlled device (including but not limited to a
computer); (ii) RFID chips, RFID inserts or inlays, RFID tags, RFID printers or RFID readers or terminals; or (iii) voice recognition hardware or software or voice-based automation or computing systems. 

(b) “Control” means (i) beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Securities Exchange Act of
1934), directly or indirectly of fifty percent (50%) or more of the direct or indirect combined voting power of a Person’s then outstanding voting equity generally entitled to vote in the election of directors (or other participants of the
managing authority); (ii) acquiring actual control of the operations of a Person, whether by means of contract or otherwise; (iii) acquiring control through a merger or consolidation involving a Person if the equity holders of that Person
immediately before such merger or consolidation, as a result of and after such merger or consolidation, own, directly or indirectly, less than fifty percent (50%) of the combined voting power of the then outstanding voting securities generally
entitled to vote in the election of directors (or other participants in the managing authority) of the entity surviving or resulting from such merger or consolidation; or (iv) acquiring control of a Person through the purchase or other
acquisition of all or substantially all of the assets of that Person. 
 (c) “Person” means an individual, a corporation, a
limited liability company, a partnership, an association, a trust or any other entity or organization, including a government or political subdivision or any agency or instrumentality thereof, whether for profit or not-for-profit. 

(d) “Senior Officer” has that meaning set forth in the Charter of the Compensation Committee of the Company’s Board of Directors.

 (e) “Tier I Companies” means Symbol Technologies, Inc., Zebra Technologies Corp., Honeywell, Impinj, Inc., Applied Wireless
Identifications, Inc., Alien Technology Corporation, Motorola Mobility, Inc., Motorola Solutions, Inc., Voxware, Lucas Systems, Inc. and their subsidiaries, affiliates and successors thereof (including any Person that obtains Control of any such
Tier I Company). 
 (f) “Tier II Companies” means value-added resellers in the AIDC Industry. 

 Patrick J. Byrne 
 May 25, 2012 
  Page
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Pat, if you agree with the terms and conditions set forth above, please sign two copies of this Agreement in the space provided below and return one signed original to me for our files. Please
maintain the second copy for your own records. 
 Sincerely, 
 /s/ Yukio Morikubo 
 Yukio Morikubo 
 Senior Vice President and General Counsel 
 I acknowledge that this Agreement is written in a
manner that is readily understandable, that I have read it and understand it. By signing below I accept the terms and conditions of this Agreement. 
  

					
	 /s/ Patrick J. Byrne
	 		 	             5/26/12

	Patrick J. Byrne	 		 	Date

 EXHIBIT A 
 GENERAL RELEASE OF CLAIMS 
 This General Release of Claims (“Release”) is made by
and between Intermec, Inc., and its subsidiaries and affiliates (collectively “Company”) and Patrick J. Byrne (“Byrne”) (the Company and Byrne collectively, the “Parties,” and each individually, a “Party”) as
of the Effective Date (as defined below). 
 This Release is being executed by Byrne as a condition to his receipt of certain benefits under the
Intermec, Inc. Senior Officer Severance Plan (“Severance Plan”) and the Separation Agreement (“Separation Agreement”) entered into between Byrne and the Company and dated May 11, 2012, which Separation Agreement describes
the benefits Byrne is eligible to receive.. The benefits are referred to as the “2012 Separation Benefits.” To be effective, this Release must not be signed by Byrne until on or after May 26, 2012. 

1. General Release 
 As of
the Effective Date, Byrne, on his own behalf and on behalf of all persons or entities which may claim through Byrne, knowingly and voluntarily forever and unconditionally releases, covenants not to sue, and gives up any rights, claims, or complaints
that Byrne may have against Company, and each of the Company’s owners, stockholders, predecessors, successors, assigns, agents, directors, officers, employees, representatives, attorneys, parent companies, divisions, subsidiaries, affiliates
(and agents, directors, officers, employees, representatives and attorneys of such parent companies, divisions, subsidiaries and affiliates), insurers, partners, fiduciaries, employee benefits plans, employee benefits committees and all persons
acting by, through, under or in concert with any of them (collectively “Releasees” and each individually, a “Releasee”), or any of them, that Byrne may have on or prior to the date Byrne signs this Release which are connected in
any way whatsoever with Byrne’s employment with, or separation of employment from, the Company, its subsidiaries or affiliates (“Claims”). 
 Without limiting the generality of the foregoing, this Release applies to Claims for compensation and benefits alleged to be owing to Byrne, including all claims regarding entitlement to any unvested
equity grants,] as well as claims of wrongful or constructive discharge, breach of contract, tortious or unlawful conduct by Releasees, discrimination, harassment, defamation, negligence or other improper actions alleged to be taken by Releasees,
and claims which may arise under many different laws, specifically including but not limited to rights or claims arising under the Employee Retirement Income Security Act of 1974, the Family and Medical Leave Act of 1993, Title VII of the Civil
Rights Act of 1964 and Section 1981 of the Civil Rights Act of 1866, the Equal Pay Act, the Americans with Disabilities Act and Sections 503 and 504 of the Rehabilitation Act of 1973, the Age Discrimination in Employment Act and the Older
Workers’ Benefit Protection Act, the Fair Labor Standards Act, the Washington Law Against Discrimination, the California Fair Employment and Housing Act, the California Family Rights Act (all as amended to date) and all other federal, state or
local laws prohibiting employment discrimination, requiring employers to provide leaves of absence, or restricting an employer’s right to terminate employees or otherwise relating to or regulating the employment relationship. Byrne understands
and agrees that this Release binds Byrne and his heirs and assigns. 
 Byrne also understands and agrees that this Release shall operate as a
complete and total bar and defense to any Claims that have been or in the future may be, directly or indirectly, brought by Byrne or Byrne’s successors, heirs, or beneficiaries against the Releasees. 

Byrne represents and warrants that, as of the date Byrne signs this Release, Byrne has not directly or indirectly filed any complaints, charges or
lawsuits against any Releasee with any governmental agency 

  
 A-1

 or any court within or outside of the United States, and that Byrne has not encouraged any such actions.
Byrne also represents and warrants that Byrne has not assigned any Claim to any third party, and that no third party has any ownership interest or any lien of any kind or nature with respect to any Claim. Byrne also hereby waives any right to
become, and promises not to consent to become, a member of any class in a case in which claims are asserted against any Releasee that are related in any way to Byrne’s employment or the termination of Byrne’s employment with Company, and
that involve events which have occurred prior to or as of the date Byrne signs this Release. If, without Byrne’s prior knowledge and consent, Byrne is made a member of a class in any such proceeding, Byrne agrees to opt out of the class at the
first opportunity afforded to Byrne after Byrne learns of his inclusion. In this regard, Byrne agrees to execute, without objection or delay, an “opt-out” form presented to Byrne either by the court in which such proceeding is pending or
by counsel for Releasees if Releasee is made a defendant in any such proceeding. Byrne also agrees that Byrne will not share in any remedy sought in any court or administrative agency proceedings involving the matters released herein. 

Byrne agrees that this Release applies to all rights or claims, whether known or unknown, that arose on or before the date Byrne signs this Release.
Byrne understands that this Release does not apply to: (a) the right to enforce this Release; or (b) any rights or claims that may arise after the date Byrne signs this Release. In connection with such waiver and release, Byrne
acknowledges that Byrne is aware that Byrne may hereafter discover claims presently unknown or unsuspected, or facts in addition to, or different from, those which Byrne now knows or believes to be true. This means that Byrne cannot sue any Releasee
for anything that occurred prior to the date Byrne signs this Release. Section 1542 of the Civil Code of the State of California provides as follows: 
 A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially
affected his or her settlement with the debtor. 
 Byrne, understanding his rights under Section 1542 of the Civil Code of the State of
California, nonetheless voluntarily waives the rights described in such Section 1542, as well as any other statute of similar effect. Byrne elects to assume all risks for claims that may now exist in Byrne’s favor, whether known or
unknown. 
 Byrne acknowledges and agrees that: 
  

	a.	This Release is written in language which is readily understandable; 

	b.	Byrne is releasing any claim for age discrimination, including any claims under the Age Discrimination in Employment Act and the Older Workers’ Benefit Protection
Act, that Byrne might assert as of the date he executes this Release; 

	c.	Company has explained that Byrne’s execution of this Release must be knowing and voluntary; 

	d.	Company advises Byrne to consult an attorney of his choice before deciding whether to enter into this Release; 

	e.	Byrne has been informed of his right to take up to twenty-five (25) days to review, and in consultation with an attorney of his choice, to consider signing this
Release (as described in Section 2, below); 

	f.	This Release does not apply to any claim arising out of events occurring after the date Byrne signs this Release; and 

	g.	If Byrne is signing this Release prior to the expiration of the twenty-five (25) day period, Byrne acknowledges that he has had adequate time to fully consider the
provisions of this Release and he knowingly waives this right. 

  
 A-2

 2. Review and Signature Period 
 Byrne is being allowed twenty-five (25) calendar days to review (with his legal counsel if he wishes), sign and return this Release to the Company. Byrne acknowledges that he has been advised to
consult with his private attorney prior to signing this Release. 
 3. Revocation Period 

If Byrne signs this Release and returns it to the Company, he will have an additional seven (7) calendar days from the date he executed the Release
to revoke it. If Byrne does not revoke the Release within such 7-day period, it will become binding, enforceable and irrevocable on the day after that revocation period expires (the “Effective Date”). If Byrne desires to revoke the Release
he must send the Company written notice within the 7-day period in the manner set forth in paragraph 7 of this Release. 
 4. Effect of
Revocation 
 Byrne acknowledges and agrees that, if he chooses to revoke this Release within the 7-day revocation period specified in
paragraph 3 of this Release, the Company shall not be required to pay the 2012 Separation Benefits, which constitute and are offered as consideration for Byrne entering into and not revoking this Release. 

5. Effect of Unexercised Revocation Right 
 The Company agrees that, if Byrne signs this Release and does not exercise his right to revoke this Release within the 7-day revocation period specified in paragraph 3, the Company will be obligated to
pay Byrne the 2012 Separation Benefits in accordance with the terms thereof. 
 6. Cooperation 

In addition to any action that Byrne may be compelled to take or refrain from taking by law, Byrne agrees to cooperate with reasonable requests by the
Company to assist in its prosecution or defense of litigation, claims and Company or governmental investigations or audits if Byrne has any relevant information or may be a witness. Company will reimburse Byrne for the reasonable expenses incurred
due to such cooperation and assistance. 
 7. Notices 
 Any and all notices, demands, or other communications required or desired to be given hereunder by any Party shall be in writing and shall be validly given or made to another Party if personally served or
if sent by an established overnight delivery service for delivery the next business day to the addresses set out below. If such notice or demand is served personally, notice shall be deemed constructively made at the time of such personal service.
If such notice, demand or other communication is sent by overnight delivery service such notice shall be conclusively deemed given three (3) days after it is sent. 
 If to Company: 
 Jeanne Lyon 

Vice President, Human Resources 
 Intermec, Inc. 
 6001 36th Avenue West 

Everett, WA 98203 

  
 A-3

 With a copy to (not deemed notice): 

Yukio Morikubo 
 Senior Vice President and General Counsel 
 Intermec, Inc.

 6001 36th Avenue West 
 Everett, WA 98203 
 If to Byrne: 

Patrick J. Byrne 
 ________________ 
 ________________ 

Any Party hereto may change its address for purposes of this paragraph 7 by written notice given in the manner provided above. 

8. Miscellaneous 
 (a)
Entire Agreement. The Parties hereto agree that this Release and the Separation Agreement contain the entire agreement and understanding of the Parties with respect to the subject matter thereof and that there are no promises or terms
of the agreement between the Parties other than those expressly written in this Release. 
 (b) Binding Effect. This Release shall
be binding upon the Parties and their respective successors, heirs, beneficiaries, assigns, subsidiaries and affiliates. 
 (c) Third
Party Beneficiaries. This Release is only for the benefit of, and is only enforceable, by the Company, its subsidiaries and affiliates and their officers, directors, employees, agents, successors and assigns. This Release is not
intended to and shall not be construed to confer any right or benefit on any third party other than those identified in the preceding sentence. 

(d) Severability. If any provision or term of this Release is determined by a court of law or government tribunal to be unenforceable, then
such unenforceable provision or term will be modified so as to make it enforceable, or if that is not possible, then it will be deleted from this Release, and the remaining part of the Release shall remain in full, force and effect. 

(e) Amendments, Waivers and Modification. No amendment, waiver or modification of this Release will be enforceable unless it is in writing,
signed by authorized representatives of each of the Parties. 
 (f) Controlling Law. To the extent not preempted by federal law,
this Release will be interpreted, construed and enforced in all respects in accordance with the laws of the State of Washington, without reference to its choice of law or conflict of laws principles. 

(g) No Admission. Nothing in this Release shall be construed as an admission by the Company or any Releasee with respect to any Claim.

 (h) Headings. The headings to the various sections of this Release have been inserted for the convenience of the Parties only.
They shall not be used to interpret or construe the meaning of the terms and provisions of such sections. 

  
 A-4

 (i) Counterparts. This Release may be signed in counterparts and, subject to paragraph 3, when
each Party has signed a counterpart, the Release shall be final and binding upon the Parties. 
 IN WITNESS WHEREOF, the Parties hereto
have caused this Release to be signed on their behalf as of the date set forth below. 
  

									
	 Company:
	 		 	Patrick J. Byrne
				
	 By:
	 	 /s/     Yukio Morikubo      
	 		 	 /s/     Patrick J.
Byrne      

	 Name:
	 	 Yukio Morikubo
	 		 	  
 Date:
	 	  

        5/26/12

	 Title:
	 	 Senior Vice President and General Counsel
	 		 		 	
	  
 Date:
	 	         5/25/12
	 		 		 	

  
 A-5

 EXHIBIT B 
 Patrick J. Byrne 
 Status of Outstanding Stock Awards as of May 11,
2012 
 Options 
  

																	
	 Grant Date
	  	# Exercisable	 	  	# Unexercisable	 	  	Exercise Price	 	  	Expiration Date	 
	 5/25/2010
	  	 	27,052	  	  	 	81,156	  	  	 	$10.98	  	  	 	5/25/2020	  
	 5/26/2009
	  	 	60,000	  	  	 	60,000	  	  	 	$11.53	  	  	 	5/26/2019	  
	 5/23/2008
	  	 	75,000	  	  	 	25,000	  	  	 	$22.01	  	  	 	5/23/2018	  
	 7/19/2007
	  	 	240,000	  	  	 	60,000	  	  	 	$27.35	  	  	 	7/19/2017	  

 Performance-based Restricted Stock Units – All Unvested 

 

					
	 Grant Date
	  	# Shares	 
	 5/24/2011
	  	 	43,750	  

 Restricted Stock Units – All Unvested 

 

					
	 Grant Date
	  	# Shares	 
	 5/24/2011
	  	 	72,917	  
	 5/25/2010
	  	 	107,662	  

 Long-Term Incentive Plan (LTIP) Awards – All Unvested 

 

					
	 Award Cycle
	  	# Shares	 
	 LTIP PSU – 2012-14
	  	 	45,969	  
	 LTIP PSU – 2011-13
	  	 	47,729	  
	 LTIP PSU – 2010-12
	  	 	5,994	  

  
 B-1EX-4.1

 Exhibit 4.1 
 WHIRLPOOL CORPORATION 
 CERTIFICATE OF DESIGNATED OFFICERS 

June 1, 2012 
 Pursuant to Sections 2.01, 2.03 and 11.05 of the Indenture, dated as of March 20, 2000 (the “Indenture”), between Whirlpool Corporation (the “Company”) and U.S. Bank
National Association (as successor to Citibank, N.A.), as Trustee (the “Trustee”), and pursuant to resolutions adopted by the Board of Directors of the Company on December 15, 1999; August 8,
2005; October 15, 2007; February 17, 2009; and February 21, 2012 (the “Company Resolutions”), the undersigned officers of the Company do hereby certify that there is hereby approved and established pursuant
to the Indenture $300,000,000 aggregate amount of the Company’s 4.700% Notes due 2022 (the “2022 Notes”) under the Indenture whose terms shall be as set forth in Annex A attached hereto (the “Securities”).

 The undersigned officers (i) have read the applicable provisions of the Indenture, (ii) have reviewed the forms and
terms of the Securities, (iii) in the opinion of the undersigned, have made such examination or investigation as is necessary to enable the undersigned to express an informed opinion as to whether or not the applicable conditions precedent
under the Indenture have been complied with, (iv) hereby certify that the applicable conditions precedent under the Indenture have been complied with and (v) hereby certify that the forms and terms of the Securities comply with the
Indenture. 
 Capitalized terms used but not defined herein have the meanings ascribed thereto in the Indenture. 

 IN WITNESS WHEREOF, each of the undersigned has signed her name as of the date first written
above. 
  

			
	By:	 	/s/ Bridget K. Quinn
	Name:	 	Bridget K. Quinn
	Title:	 	Group Counsel, Corporate Center and Assistant Secretary

  

			
	By:	 	/s/ Margaret M. McLeod
	Name:	 	Margaret M. McLeod
	Title:	 	Vice President and Treasurer

 Certificate of Designated Officers 

 ANNEX A 
 4.700% Notes due 2022 
 1. The title of the Securities shall be the
“4.700% Notes due 2022” (the “Notes”). 
 2. The aggregate principal amount of the Notes which may be
authenticated and delivered under the Indenture is initially limited to $300,000,000 (except for such Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes pursuant to
Section 2.08, 2.09, 2.11 or 12.03 of the Indenture). Additional Notes ranking equally with the Notes in all respects (or in all respects other than the payment of interest accruing prior to the issue date of such further Notes or except for the
first payment of interest following the issue date of such further Notes) may be authenticated and delivered under the Indenture from time to time, without notice to or the consent of the registered Holders of the Notes, provided that if such
further Notes are not fully fungible with the Notes for U.S. federal income tax purposes, the Company will cause such further Notes to be issued under a CUSIP number that is different from the CUSIP number printed on the Notes. Such further Notes
may be consolidated and form a single series with the Notes and have the same terms as to status, redemption or otherwise as the Notes. 
 3. The Notes shall be offered at an offering price equal to 99.850% of their principal amount, plus accrued interest, if any, from June 1, 2012 to the date of delivery, and in payment for which the
Company shall receive 99.200% of their principal amount, plus accrued interest, if any, from June 1, 2012 to the date of delivery, after a discount to the underwriters of the Notes of 0.650% of their principal amount. 

4. The stated maturity of the principal of the Notes shall be June 1, 2022. 

5. The Notes will bear interest at a fixed rate of 4.700% per annum. 
 Interest on the Notes will accrue from June 1, 2012, or from the most recent interest payment date to which interest has been paid or provided for, but excluding the relevant interest payment date.
The Company will make interest payments on the Notes semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2012, to the person in whose name such Notes are registered at the close of business on the
immediately preceding May 15 or November 15, as applicable. Interest on the Notes will be computed on the basis of a 360-day year of twelve 30-day months. 
 If an interest payment date for the Notes falls on a day that is not a Business Day, the interest payment shall be postponed to the next succeeding Business Day, and no interest on such payment shall
accrue for the period from and after such interest payment date. 
 6. The Notes will be redeemable at the option of the Company
on the terms described in the body of the Note. Other than with respect to a Change of Control Repurchase Event (as defined in the body of the Note), the Notes will not be repayable at the option of the Holders prior to its stated maturity date. The
Notes will not be subject to any sinking fund. 

 7. The Notes will be issued in registered, book-entry form only without interest coupons in
denominations of $1,000 and integral multiples of $1,000 in excess thereof. 
 8. The Notes shall be in such form or forms as may
be approved by the authorized officers of the Company as provided in the Company Resolutions, such approval to be evidenced by the authorized officers’ manual or facsimile signature on the Notes, provided that such form or forms of the
Notes are not inconsistent with the requirements of the Indenture or the Company Resolutions and are substantially in the form or forms attached hereto as Exhibit A-1. 
 9. The Notes shall be issued in the form of one or more Global Securities registered in the name of The Depository Trust Company or its nominee, to be deposited with, or on behalf of, The Depository Trust
Company, New York, New York. 
 10. Payments of principal of, interest on, and any other amounts payable with respect to the
Notes are to be denominated in Dollars. 
 11. The Notes are not issuable in Tranches. 

12. The Notes are not convertible into Securities of any other Series. 

13. Both Section 10.1(B)(ii) and Section 10.1(B)(iii) of the Indenture apply to the Notes. 

 EXHIBIT A-1 
 [FORM OF FACE OF NOTE] 
 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF
ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), A NEW YORK CORPORATION, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL IN AS MUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

Whirlpool Corporation 
 4.700% Notes due 2022 (the “Notes”) 
  

			
	No. 001	 	 CUSIP NO. 96332HCE7
 $300,000,000

 WHIRLPOOL CORPORATION, a Delaware corporation (the “Company”), which term includes any
successor under the Indenture hereinafter referred to on the reverse hereof, for value received, promises to pay to CEDE & CO., or its registered assigns, the principal sum of three hundred million dollars ($300,000,000) or such other
amount as indicated on the Schedule of Increases or Decreases in Global Note attached hereto, on June 1, 2022. 
 Interest
Rate: 4.700% per annum 
 Interest Payment Dates: June 1 and December 1 of each year, commencing December 1,
2012 
 Record Dates: May 15 and November 15, as applicable, of each year 

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

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

 
  

			
		 	WHIRLPOOL CORPORATION
		
	By:	 	  
	Name:	 	Larry M. Venturelli
	Title:	 	Authorized Signatory

  

			
	By:	 	  
	Name:	 	Margaret M. McLeod
	Title:	 	Authorized Signatory

 Dated: June 1, 2012 
 [INSERT COMPANY SEAL] 

 This is one of the Securities of the Series designated herein referred to in the
within-mentioned Indenture. 
  

							
	Dated: June 1, 2012	 		 	U.S. Bank National Association (as successor to Citibank, N.A.), as Trustee
				
		 		 	By:	 	 
		 		 		 	 Authorized Signatory

 [FORM OF REVERSE OF NOTE] 

Whirlpool Corporation 
 4.700% Notes due 2022 
 Interest 

The Company promises to pay interest on the principal amount of this Note at the rate per annum described above. Interest on the Notes
will accrue from June 1, 2012 or from the most recent date to which interest has been paid or provided for, but excluding the relevant interest payment date. If an interest payment date falls on a day that is not a Business Day, the interest
payment date shall be postponed to the next succeeding Business Day, and no interest on such payment shall accrue for the period from and after such interest payment date. 
 The Company will pay interest semi-annually in arrears on June 1 and December 1 of each year, commencing on December 1, 2012, to the person in whose name such Notes are registered at the
close of business on the immediately preceding May 15 and November 15, as applicable. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

Optional Redemption of Notes 
 The Company may, at its option, redeem the Notes in whole at any time or in part from time to time at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes to be
redeemed and (2) as determined by the Quotation Agent (as defined below), the sum of the present values of the remaining scheduled payments of principal and interest in respect of the Notes to be redeemed (not including any portion of those
payments of interest accrued as of the date of redemption) discounted to the date of redemption (the “Redemption Date”) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury
Rate (as defined below) plus 45 basis points plus accrued and unpaid interest to the Redemption Date. 
 Notwithstanding the
foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the interest payment date to the registered Holders as of the close of business on the
relevant record date according to terms hereof and the Indenture. 
 The Company will mail notice of any redemption at least 30
days but not more than 60 days before the redemption date to each Holder of the Notes being redeemed. Once notice of redemption is mailed, the Notes called for redemption will become due and payable on the redemption date and at the applicable
redemption price, plus accrued and unpaid interest to the redemption date. 
 “Adjusted Treasury Rate” means,
with respect to any Redemption Date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for that Redemption Date. 

 “Comparable Treasury Issue” means the United States Treasury security
selected by the Quotation Agent as having a maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of those Notes. 
 “Comparable Treasury
Price” means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer Quotations for that Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the
Quotation Agent obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received. 
 “Quotation Agent” means the Reference Treasury Dealer appointed by the Company. 
 “Reference Treasury Dealer” means each of any four primary U.S. Government securities dealers in the United States of America selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date,
the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by that Reference Treasury
Dealer at 5:00 p.m., New York City time, on the third business day preceding that Redemption Date. 
 On and after the
redemption date, interest will cease to accrue on the Notes or any portion of the Notes called for redemption (unless the Company defaults in the payment of the redemption price and accrued interest). On or before the redemption date, the Company
will deposit with a paying agent or the Trustee money sufficient to pay the redemption price of and accrued interest on the Notes to be redeemed on that date. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be
selected by the Trustee by a method the Trustee deems to be fair and appropriate. 
 Repurchase Upon Change of Control
Repurchase Event 
 If a Change of Control Repurchase Event (as defined below) occurs, unless the Company has exercised its
right to redeem the Notes as described above under “Optional Redemption of Notes,” the Company will make an offer (the “Change of Control Offer”) to each Holder to repurchase all or any part (in integral multiples
of $1,000) of that Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased, if any, to the date of purchase (the
“Change of Control Payment”). Within 30 days following any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control (as defined below), but after the public announcement of an impending
Change of Control, the Company will mail a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Notes on the
payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”). 

 The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the offer
to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. 
 The Company will comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations
thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict
with the Change of Control provisions of the Notes, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions of the Notes by virtue of
such conflict. 
 On the Change of Control Payment Date, the Company will, to the extent lawful: 

(a) accept for payment all Notes or portions of Notes properly tendered pursuant to the Company’s Change of Control Offer;

 (b) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of
Notes properly tendered; and 
 (c) deliver or cause to be delivered to the Trustee the Notes properly accepted, together with
an Officers’ Certificate stating the aggregate principal amount of Notes or portion of Notes being purchased by the Company. 
 The Paying Agent will promptly mail to each Holder of properly tendered Notes the purchase price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by
book-entry) to each Holder a new Security equal in principal amount to any unpurchased portion of any Notes surrendered; provided, that each new Security will be in a principal amount of $1,000 or an integral multiple of $1,000 above that amount.

 The Company will not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a
third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. 

“Below Investment Grade Rating Event” means the rating on the Notes are lowered and the Notes are rated below an
Investment Grade Rating by any two of the three Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of
the Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade below investment grade by any of the Rating Agencies); provided that a Below Investment
Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of
the definition of Change of Control Repurchase Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at the Company’s
request 

 
that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the
applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 
 “Change of
Control” means the occurrence of any of the following: 
  

	 	•	 	 the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related
transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Company or one of
its subsidiaries; 

  

	 	•	 	 the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as
that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s voting stock; or 

 

	 	•	 	 the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors. 

Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (i) the Company becomes a wholly
owned subsidiary of a holding company that has agreed to be bound by the terms of the Notes and (ii) the holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of the
Company’s voting stock immediately prior to that transaction. 
 “Change of Control Repurchase Event”
means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Continuing
Directors” means, as of any date of determination, members of the Board of Directors of the Company who (i) were members of such Board of Directors on the date of the issuance of the Notes; or (ii) were nominated for election or
elected to such Board of Directors with the approval of a majority of the continuing directors under clause (i) or (ii) of this definition who were members of such Board of Directors at the time of such nomination or election (either by a
specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director, without objection to such nomination). 

“Fitch” means Fitch, Inc. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s or equal to or higher than BBB– (or the equivalent) by S&P or Fitch, as
applicable, and the equivalent investment grade credit rating from any replacement rating agency or rating agencies selected by the Company. 
 “Moody’s” means Moody’s Investors Service, Inc. 

 “Rating Agencies” means (1) each of Fitch, Moody’s and S&P;
and (2) if Fitch, Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization”
within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Fitch, Moody’s or S&P, or any of them, as the case
may be. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc. 
 “Subsidiary” means a corporation more than 50% of the outstanding voting stock of which is
owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for
the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
 Paying Agent 
 Initially, U.S. Bank National Association (as successor to
Citibank, N.A.) (the “Trustee”) will act as paying agent. The Company may change any paying agent without notice to the Holders. 
 Indenture; Defined Terms 
 This Note is one of the 4.700% Notes due 2022
issued under an Indenture, dated as of March 20, 2000, between the Company and the Trustee (as originally executed and delivered or, if amended or supplemented as therein provided, as so amended or supplemented or both, and including the forms
and terms of particular Series of Securities established as contemplated thereunder, the “Indenture”). 

Unless otherwise defined herein, capitalized terms herein are used as defined in the Indenture. The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the “Trust Indenture Act”), as in effect on the date of the Indenture until such time as
the Indenture is qualified under the Trust Indenture Act, and thereafter as in effect on the date on which the Indenture is qualified under the Trust Indenture Act. Notwithstanding anything to the contrary herein, the Notes are subject to all such
terms, and Holders of Notes are referred to the Indenture and the Trust Indenture Act for a statement of them. To the extent the terms of the Indenture and this Note are inconsistent, the terms of the Indenture shall govern. 

Denominations; Transfer; Exchange 
 The Notes are in registered form, without coupons, in denominations of $1,000 and integral multiples of $1,000 in excess thereof. A Holder shall register the transfer or exchange of Notes in accordance
with the Indenture. 

 Amendment; Supplement; Waiver 

Subject to certain exceptions, the Notes and the provisions of the Indenture relating to the Notes may be amended or supplemented and any
existing default or Event of Default or compliance with certain provisions may be waived with the written consent of the Holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of each Series
(including the Notes) under the Indenture that are affected by such amendment, supplement or waiver (voting as one class). Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among
other things, cure any ambiguity, defect or inconsistency or comply with any requirements of the Commission in connection with the qualification of the Indenture under the TIA, or make any other change that does not materially and adversely affect
the rights of any Holder of a Note. 
 Defaults and Remedies 

If an Event of Default under the Indenture occurs with respect to the Notes and shall not have been remedied or waived, unless the
principal of all the Notes shall have already become due and payable, then either the Trustee or the Holders of not less than 25% in aggregate principal amount at maturity of the Notes then Outstanding, by written notice to the Company (and to the
Trustee if given by such Holders), may declare the principal of all the Notes then Outstanding to be due and payable immediately, together with all accrued and unpaid interest thereon. Holders of Notes may not enforce the Indenture or the Notes
except as provided in the Indenture. The Trustee is not obligated to enforce the Indenture or the Notes unless it has received indemnity as it reasonably requires. The Indenture permits, subject to certain limitations therein provided, Holders of
not less than a majority in aggregate principal amount of the Notes then Outstanding to direct the Trustee in its exercise of any trust or power conferred on the Trustee with respect to the Notes by the Indenture. The Trustee may withhold from
Holders of Notes notice of certain continuing defaults or Events of Default if it determines in good faith that withholding notice is in their interest. 
 Authentication 
 This Note shall not be valid until the Trustee manually
signs the certificate of authentication on this Note. 
 Abbreviations and Defined Terms 

Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 CUSIP Numbers 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP
numbers to be printed on the Notes as a convenience to the Holders of the Notes. No representation is made as to the accuracy of such numbers as printed on the Notes and reliance may be placed only on the other identification numbers printed hereon.

 Further Issuances 
 The Company may create and issue additional notes pursuant to the Indenture, provided that if such additional notes are not fully fungible with the Notes for U.S. federal income tax purposes, the
Company will cause such additional notes to be issued under a CUSIP number that is different from the CUSIP number printed on the Notes. 
 Governing Law 
 The laws of the State of New York shall govern the Indenture
and this Note. 

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this
Note to 
  
  

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

 
  
 (Insert assignee’s soc. sec. or tax I.D. No.) 
 and irrevocably appoint
             agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

 
  
  

					
	Date:                             
                                         
     	  		  	Your Signature:                          
                       

 Signature 

Guarantee:                       
                                         
                                         
                                         
                                         
                                         
         
 (Signature must be guaranteed) 

 
  
 Sign exactly as your name appears on the other side of this Note. 
 The signature(s) should
be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to SEC Rule 17Ad-15. 

 

	
	  

	Signature

 Signature Guarantee: 
 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to SEC Rule 17Ad-15. 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The following increases or decreases in this Global Note have been made: 

 

									
	 Date
	  	 Amount of decrease in
Principal Amount of

this Global Note
	  	 Amount of increase in
Principal Amount of

this Global Note
	  	 Principal Amount of

this Global Note

following such
 decrease or increase
	  	 Signature of authorized
signatory of Trustee or
Notes
Custodian

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