Document:

EX-4.1

 Exhibit 4.1 
 GRUPO TELEVISA, S.A.B., 
 as Issuer, 

THE BANK OF NEW YORK MELLON, 
 as Trustee, Registrar, Paying Agent and Transfer Agent, 
 THE BANK OF NEW YORK
MELLON, LONDON BRANCH, 
 as London Paying Agent 
 and 
 THE BANK OF NEW YORK MELLON (LUXEMBOURG) S.A., 

as Luxembourg Paying Agent and Transfer Agent 
  

 
 SIXTEENTH
SUPPLEMENTAL INDENTURE 
 Dated as of May 14, 2013 

 
  

Supplementing the Trust Indenture 
 Dated as of August 8, 2000 
  

 
 Ps.
6,500,000,000 
 7.25% Peso Denominated Senior Notes due 2043, Payable in Mexican Pesos 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I     DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	2	  
			
	 Section 1.01
	 	Definitions	  	 	2	  
	 Section 1.02
	 	Section References	  	 	3	  
			
	 ARTICLE II
	 	TITLE AND TERMS OF THE SECURITIES	  	 	3	  
			
	 Section 2.01
	 	Title of the Securities	  	 	3	  
	 Section 2.02
	 	Amount and Denominations	  	 	3	  
	 Section 2.03
	 	Registered Securities	  	 	4	  
	 Section 2.04
	 	[INTENTIONALLY OMITTED]	  	 	4	  
	 Section 2.05
	 	Stated Maturity	  	 	4	  
	 Section 2.06
	 	Interest	  	 	4	  
	 Section 2.07
	 	Registration, Transfer and Exchange	  	 	4	  
	 Section 2.08
	 	Redemption of the Securities	  	 	5	  
	 Section 2.09
	 	Denominations	  	 	5	  
	 Section 2.10
	 	Payment Currency	  	 	6	  
	 Section 2.11
	 	Applicability of Certain Indenture Provisions	  	 	6	  
	 Section 2.12
	 	Security Registrar and Paying Agent	  	 	6	  
	 Section 2.13
	 	Global Securities	  	 	6	  
	 Section 2.14
	 	[INTENTIONALLY OMITTED]	  	 	8	  
	 Section 2.15
	 	Sinking Fund	  	 	8	  
	 Section 2.16
	 	Conversion; Exchange	  	 	8	  
	 Section 2.17
	 	Amendments	  	 	8	  
	 Section 2.18
	 	Applicable Procedures	  	 	8	  
	 Section 2.19
	 	Paying and Transfer Agent	  	 	8	  
	 Section 2.20
	 	ISIN Numbers	  	 	9	  
	 Section 2.21
	 	Consequential Damages	  	 	9	  
	 Section 2.22    
	 	Payment and reimbursement	  	 	9	  
		
	 ARTICLE III  MISCELLANEOUS PROVISIONS
	  	 	10	  
			
	 EXHIBITS
	 		  			
			
	 Exhibit A
	 	Global Security Form	  	 	A-1	  

  
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 SIXTEENTH SUPPLEMENTAL INDENTURE, dated as of the 14th day of May, 2013, among GRUPO TELEVISA, S.A.B., a limited liability
public stock corporation (sociedad anónima bursátil) organized under the laws of the United Mexican States (the “Issuer” or the “Company”). THE BANK OF NEW YORK MELLON, a New York banking
corporation, having its Corporate Trust Office located at 101 Barclay Street, New York, New York 10286, as trustee (the “Trustee”), registrar (“Registrar”), paying agent (“Paying Agent”) and
transfer agent (“Transfer Agent”), THE BANK OF NEW YORK MELLON, LONDON BRANCH, at its office at One Canada Square, London E14 5AL, United Kingdom, as paying agent (a “Paying Agent”), and THE BANK OF NEW YORK MELLON
(LUXEMBOURG) S.A., a bank duly incorporated and existing under the laws of Luxembourg, at its office at Vertigo Building, Polaris, 2-4 rue Eugène Ruppert, L-2453, Luxembourg, as paying agent and transfer agent (a “Paying
Agent” and a “Transfer Agent”) as the case may be); 
 WHEREAS, the Company has heretofore executed
and delivered to the Trustee an Indenture, dated as of August 8, 2000 (the “Original Indenture” and, together with the First Supplemental Indenture, dated as of August 8, 2000, the Second Supplemental Indenture, dated as
of January 19, 2001, the Third Supplemental Indenture, dated as of September 13, 2001, the Fourth Supplemental Indenture, dated as of March 11, 2002, the Fifth Supplemental Indenture, dated as of March 8, 2002, the Sixth
Supplemental Indenture, dated as of July 31, 2002, the Seventh Supplemental Indenture dated as of March 18, 2005, the Eighth Supplemental Indenture, dated as of May 26, 2005, the Ninth Supplemental Indenture, dated as of
September 6, 2005, the Tenth Supplemental Indenture, dated as of May 9, 2007, the Eleventh Supplemental Indenture, dated as of August 24, 2007, the Twelfth Supplemental Indenture, dated as of May 12, 2008, the Thirteenth
Supplemental Indenture, dated as of August 21, 2008, the Fourteenth Supplemental Indenture, dated as of November 30, 2009, the Fifteenth Supplemental Indenture, dated as of March 22, 2010, and this Sixteenth Supplemental
Indenture, the “Indenture”), providing for the issuance by the Company from time to time of its senior debt securities to be issued in one or more series (in the Original Indenture and herein called the
“Securities”); 
 WHEREAS, the Company, in the exercise of the power and authority conferred upon and reserved
to it under the provisions of the Original Indenture and pursuant to appropriate resolutions of the Board of Directors, has duly determined to make, execute and deliver to the Trustee, on May 14, 2013, this Sixteenth Supplemental Indenture to
the Original Indenture in order to establish the form and terms of, and to provide for the creation and issue of, Securities to be designated as the “7.25% Peso Denominated Senior Notes due 2043” under the Original Indenture in the
aggregate principal amount of Ps. 6,500,000,000 subject to Section 202 hereof; 
 WHEREAS, Section 901 of the Original
Indenture provides, among other things, that the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, without the consent of any Holders, may enter into an indenture supplemental to the Original
Indenture to establish the terms of Securities of any series as permitted by Sections 201 and 301 of the Original Indenture; and 
 WHEREAS, all things necessary to make the Securities, when executed by the Company and authenticated and delivered by the Trustee or any Authenticating Agent and issued upon the terms and subject to the
conditions set forth hereinafter and in the Indenture against payment therefor, the valid, binding and legal obligations of the Company and to make this Sixteenth Supplemental Indenture a valid, binding and legal agreement of the Company, have been
done; 

  
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 NOW, THEREFORE, This SIXTEENTH SUPPLEMENTAL INDENTURE WITNESSETH that, in order to establish
the terms of the series of Securities designated as the “7.25% Peso denominated Senior Notes due 2043” and for and in consideration of the premises and of the covenants contained in the Original Indenture and in this Sixteenth
Supplemental Indenture and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, it is mutually covenanted and agreed as follows: 

ARTICLE I 

DEFINITIONS AND OTHER 
 PROVISIONS OF GENERAL APPLICATION 
 Section 1.01 Definitions.

 Each capitalized term that is used herein and is defined in the Original Indenture shall have the meaning specified in the
Original Indenture unless such term is otherwise defined herein. 
 “Applicable Procedures” means, with respect
to any transfer or exchange of or for beneficial interests in any Global Security, the rules and procedures of Euroclear or Clearstream Banking, as the case may be, that apply to such transfer or exchange. 

“Business Day” means any day that is both (i) a day other than a Saturday, Sunday or other day on which banking
institutions in New York City, Mexico City, London or Luxembourg are authorized or obligated by law, regulation or executive order to close and (ii) a day on which banks and financial institutions in Mexico City are open for business with the
general public. 
 “Clearstream Banking” shall mean Clearstream Banking, société anonyme
or any successor. 
 “Closing Date” shall mean May 14, 2013. 

“Depositary” shall mean any common depositary for Clearstream Banking and Euroclear, in the name of which the Notes
shall be registered. 
 “Euroclear” shall mean the Euroclear Bank S.A./N.V., as operator of the Euroclear
System, or any successor. 
 “Global Securities” or “Global Security” shall have the meaning
assigned to it in Section 203 hereof. 
 “Interest Payment Date” shall have the meaning assigned to it in
the Original Indenture and in Section 206 hereof. 

  
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 “Mexican GAAP” shall mean financial reporting standards in Mexico and the
accounting principles and policies of the Company and its Restricted Subsidiaries, in each case as in effect from time to time, or any financial reporting standards authorized by the Mexican Comisión Nacional Bancaria y de Valores and
applied by the Company. All ratios and computations shall be computed in conformity with Mexican GAAP. 
 “Mexican
Peso” or “Ps.” shall mean the legal currency of the United Mexican States. 
 “Notes”
shall mean the Company’s 7.25% Peso Denominated Senior Notes due 2043, Payable in Mexican Pesos. 
 “Remaining
Scheduled Payments” shall mean, with respect to the Notes, the remaining scheduled payments of principal thereof and interest thereon that would be due after the related Redemption Date but for such redemption. 

“Securities” shall mean the Notes. 
 Section 1.02 Section References. 
 Each reference to a particular
Section set forth in this Sixteenth Supplemental Indenture shall, unless the context otherwise requires, refer to this Sixteenth Supplemental Indenture. 
 ARTICLE II 
 TITLE AND TERMS OF THE SECURITIES 

Section 2.01 Title of the Securities. 
 The title of the Securities of the series established hereby is the “7.25% Peso Denominated Senior Notes due 2043.” 
 Section 2.02 Amount and Denominations. 
 The aggregate original
principal amount of the Notes which may be authenticated and delivered under this Sixteenth Supplemental Indenture is limited to Ps. 6,500,000,000, except for Securities of such series authenticated and delivered upon registration of transfer of, or
in exchange for, or in lieu of, other Securities of the same series pursuant to Section 305, 306, 904 or 1107 of the Original Indenture; provided, however, that the Notes may be reopened, without the consent of the Holders thereof, for
issuance of additional Securities of the same series. 

  
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 Section 2.03 Registered Securities. 

The certificates for the Notes shall be Registered Securities in global form and shall be in substantially the forms attached hereto as
Exhibit A (the “Global Security”), and shall bear the legends as are inscribed thereon. 

Section 2.04 [INTENTIONALLY OMITTED]. 
 Section 2.05 Stated Maturity. 
 The Stated Maturity of the Notes on
which the principal thereof is due and payable shall be May 14, 2043. 
 Section 2.06 Interest. 

The principal of the Notes shall bear interest from the later of May 14, 2013 or the most recent Interest Payment Date to which
interest has been paid or provided for, payable semi-annually on May 14 and November 14 of each year, commencing on November 14, 2013 to the Persons in whose names the Notes (or one or more Predecessor Securities) are registered at
the close of business on the fifteenth calendar day preceding such Interest Payment Date. Interest payable at maturity will be payable to the person to whom principal is payable on that date. Interest on the Notes shall be calculated on the basis of
the actual number of days elapsed during the relevant interest period and a 360-day year. If any Interest Payment Date or Maturity would otherwise be a day that is not a Business Day, the related payment of principal, interest, premium and
Additional Amounts will be made on the next succeeding Business Day as if it were made on the date the payment was due and no interest will accrue on the amounts so payable for the period from and after the Interest Payment Date or Maturity, as the
case may be, to the next succeeding Business Day. Payments postponed to the next Business Day in this situation will be treated as if they were made on the original due date and postponement of this kind will not result in an Event of Default under
the Notes, the Indenture or this Sixteenth Supplemental Indenture. 
 Interest on the Notes will accrue at the rate of
7.25% per annum, until the principal thereof is paid or made available for payment. 
 Section 2.07 Registration,
Transfer and Exchange. 
 The principal of, interest, premium and Additional Amounts on the Notes shall be payable and the
Notes may be surrendered or presented for payment, the Notes may be surrendered for registration of transfer or exchange, and notices and demands to or upon the Company in respect of the Notes and the Indenture may be served, at the office or agency
of the Company maintained for such purposes in The City of New York, State of New York, and so long as any Notes are listed on the Luxembourg Stock Exchange for trading on the Euro MTF market and the rules of the Luxembourg Stock Exchange so
require, a Paying Agent and a Transfer Agent with a specified office in Luxembourg, from time to time; provided, however, that at the option of the Company payment of interest on the Notes may be made by check mailed to the address of the
Persons entitled thereto, as such addresses shall appear in the Security Register. 

  
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 The Company hereby initially appoints the Trustee at its office in The City of New York as
the Registrar, a Paying Agent and a Transfer Agent under the Indenture and the Trustee, by its execution hereof, accepts such appointment; provided, however, that (subject to Section 1002 of the Indenture) the Company may at any
time remove the Trustee at its office or agency in The City of New York designated for the foregoing purposes and may from time to time designate one or more other offices or agencies for the foregoing purposes and may from time to time rescind such
designations. The Company hereby initially appoints The Bank of New York Mellon (Luxembourg) S.A. at its office at Vertigo Building, Polaris, 2-4 rue Eugène Ruppert, L-2453, Luxembourg, to act as a Luxembourg Paying Agent and Transfer Agent
under the Indenture and The Bank of New York Mellon (Luxembourg) S. A. by its execution hereof, hereby accepts such appointment. The Company hereby initially appoints The Bank of New York Mellon, London Branch, at its office at One Canada Square,
London E14 5AL, United Kingdom, to act as a London Paying Agent under the Indenture and The Bank of New York Mellon, London Branch, by its execution hereof, hereby accepts such appointment. The Trustee, the Registrar, each Paying Agent and each
Transfer Agent shall keep copies of the Indenture available for inspection and copying by holders of the Notes during normal business hours at their respective offices. 
 Notwithstanding the foregoing, a Holder of Ps. 100,000,000 or more in aggregate principal amount of certificated Notes on a Regular Record Date shall be entitled to receive interest payments, if any, on
any Interest Payment Date, other than an Interest Payment Date that is also the date of Maturity, by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by, and are acceptable to, the
Trustee not less than 15 calendar days prior to the applicable Interest Payment Date. Any wire transfer instructions received by the Trustee will remain in effect until revoked by the Holder. Any interest not punctually paid or duly provided for on
a certificated Note on any Interest Payment Date other than the date of Maturity will cease to be payable to the Holder of the Note as of the close of business on the related Regular Record Date and may be paid either (1) to the Person in whose
name the certificated Note is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest that is fixed by the Company, written notice of which will be given to the Holders of the Notes not less than 10
calendar days prior to such Special Record Date, or (2) at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such
securities exchange, as provided in the Indenture. 
 Section 2.08 Redemption of the Securities. 

The Notes are redeemable by the Company as set forth in Exhibit A hereto. Any such redemption shall be made in accordance with the terms
of Article Eleven of the Original Indenture, provided that, in the case of a conflict between any such terms and the terms set forth in Exhibit A hereto, the terms set forth in Exhibit A shall prevail. 

Section 2.09 Denominations. 
 Interests in the Notes shall be in minimum denominations of Ps. 2,000,000 and integral multiples of Ps. 10,000 in excess thereof. 

  
 5 

 Section 2.10 Payment Currency. 

Payments of principal, interest, Additional Amounts and any other amounts due in respect of the Notes will be made in Mexican Pesos.

 Holders with accounts that cannot accept payments on Notes in Mexican Pesos or who wish to receive payments in Dollars must
determine how to convert these payments into Dollars or another currency. Holders shall be responsible for paying all commissions and fees related to any currency conversion with respect to any payment on Notes. 

Section 2.11 Applicability of Certain Indenture Provisions. 

All Sections of the Original Indenture (as amended by this Sixteenth Supplemental Indenture, including Exhibit A hereto, as applicable)
shall apply to the Notes, except for Articles Twelve and Thirteen. 
 Section 2.12 Security Registrar and Paying
Agent. 
 The Trustee shall be Security Registrar and the initial Paying Agent and initial Transfer Agent for the Notes
(subject to the Company’s right (subject to Section 1002 of the Indenture) to remove the Trustee as such Paying Agent and or Transfer Agent with respect to each series and/or, from time to time, to designate one or more co- registrars and
one or more other Paying Agents and Transfer Agents and to rescind from time to time any such designations), and The City of New York is designated as a Place of Payment for the Notes. The Company shall maintain a Paying Agent and Transfer Agent in
Luxembourg for so long as any Notes are listed on the Luxembourg Stock Exchange for trading on the Euro MTF market. 

Section 2.13 Global Securities. 
 (a) Form of Securities. The Notes may be issued in whole or in part in the form of one or more Global Securities in fully registered form in the name of a Depositary for Euroclear and Clearstream
Banking, and the depositary arrangements shall be those employed by whoever shall be the Depositary with respect to the Notes from time to time. No Notes will be issued in bearer form. 

Each Global Security authenticated under this Sixteenth Supplemental Indenture shall be registered in the name of the Depositary or a
nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefore, and each such Global Security shall constitute a single Security for all purposes of the Indenture. 

Notwithstanding any other provision in the Indenture or the Securities, no Global Security may be exchanged, in whole or in part, for
certificated Notes, and no transfer of a Global Security in whole or in part may be registered in the name of any Person other than the Depositary or a nominee thereof unless (A) the Depositary has notified the Company that it is

  
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unwilling or unable to discharge its responsibilities properly as Depositary for such Global Security and a successor Depositary has not been appointed within 90 days, or (B) the Depositary
has ceased to be a clearing agency registered under the Exchange Act, or (C) there shall have occurred and be continuing an Event of Default with respect to such Notes or (D) the Company in its sole discretion determines that the Global
Securities (in whole not in part) should be exchanged for certificated Notes and delivers a written notice to such effect to the Trustee. Any Global Security exchanged pursuant to Clause (A) or (B) above shall be so exchanged in whole and
not in part and any Global Security exchanged pursuant to Clause (C) or (D) above may be exchanged in whole or from time to time in part in the manner directed by the Depositary or the Company, respectively. If any of these events occur,
upon receipt of certificated Notes executed by the Company and a Company Order, the Trustee will authenticate the Notes in fully certificated registered form for delivery to holders of beneficial interests in the Global Securities and will recognize
the registered holders of the certificated Notes as Holders under the Indenture. 
 Each time that the Company transfers or
exchanges a new Note in certificated form for another Note in certificated form, and after the Transfer Agent receives a completed assignment form, the Company will make available for delivery the new definitive Note at, as the case may be, the
offices of the Transfer Agent in New York City or at the main office of the Transfer Agent in Luxembourg. Alternatively, at the option of the person requesting the transfer or exchange, the Company will mail, at that person’s risk, the new
definitive Note to the address of the person that is specified in the assignment form. In addition, if the Company issues Notes in certificated form, then it will make payments of, interest on and any other amounts payable under the Notes to Holders
in whose names Notes in certificated form, are registered at the close of business on the record date for these payments. If the Notes are issued in certificated form, the Company will make payments of principal and any redemption payments against
the surrender of these certificated Notes at the offices of the Paying Agent in New York City or, as long as the Notes are listed on the Luxembourg Stock Exchange for trading on the Euro MTF market, at the main office of the Paying Agent in
Luxembourg. 
 If the Company issues the Notes in certificated registered form, so long as the notes are listed on the
Luxembourg Stock Exchange for trading on the Euro MTF market, the Company will maintain a paying agent and a transfer agent in Luxembourg. The Company will also publish a notice in Luxembourg in a leading newspaper having general circulation in
Luxembourg (which is expected to be d’Wort). The Company will also publish a notice in Luxembourg in a leading newspaper having general circulation in Luxembourg if any change is made in the Paying Agent or the Transfer Agent in
Luxembourg. 
 Upon any exchange, the certificated Notes shall be issued in definitive, fully-registered form, without interest
coupons, shall have an aggregate principal amount equal to that of such Global Security or portion thereof to be so exchanged and shall be registered in such names and be in such denominations as the Depositary shall designate and shall bear any
legends required by applicable law. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as Security Registrar. With regard to any Global Security to be exchanged in part, either such Global Security
shall be so surrendered for exchange or, if the Trustee is acting as custodian for the Depositary or its nominee with respect to such Global Security, the principal thereof shall be reduced, by an amount equal to the portion thereof to be so
exchanged, by means of any appropriate adjustment made on the records of the Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the order of the Depositary or
an authorized representative thereof. 

  
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 The provisions of the “Operating Procedures of the Euroclear System” and
the “Terms and Conditions Governing Use of Euroclear” and the “Management Regulations” and “Instructions to Participants” of Clearstream Banking, respectively, shall be applicable to any Global
Security insofar as interests in such Global Security are held by the agent members of Euroclear or Clearstream Banking. Account holders or participants in Euroclear and Clearstream Banking shall have no rights under the Indenture with respect to
such Global Security, and the Depositary or its nominee may be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing
herein shall prevent the Company, the Trustee, or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair the operation of customary practices
governing the exercise of the rights of a holder of any Security. 
 Section 2.14 [INTENTIONALLY OMITTED].

 Section 2.15 Sinking Fund. 
 The Notes shall not be subject to any sinking fund or similar provision and shall not be redeemable at the option of the holder thereof. 

Section 2.16 Conversion; Exchange. 
 The Notes shall not be convertible into Common Stock. 
 Section 2.17
Amendments. 
 This Supplemental Indenture may be amended by the Company without the consent of any holder of the Notes in
order for any restrictions on transfer contained herein to be in compliance with applicable law or the Applicable Procedures. 

Section 2.18 Applicable Procedures. 
 Notwithstanding anything else herein, the Company shall not be required to permit a transfer of a Global Security that is not permitted by the Applicable Procedures. 

Section 2.19 Paying and Transfer Agent. 
 The Bank of New York Mellon (Luxembourg) S.A. agrees that the provisions of Section 1003 of the Original Indenture shall be binding on it as Paying Agent and Transfer Agent. The Bank of New York
Mellon, London Branch, agrees that the provisions of Section 1003 of the Original Indenture shall be binding on it as Paying Agent. 

  
 8 

 Section 2.20 ISIN Numbers. 

Section 311 of the Original Indenture is hereby amended and restated with respect to the Notes (but not with respect to any other
series of Securities) as follows: 
 “The Company in issuing the Notes may use ‘ISIN’ numbers (if then generally
in use), and, if so, the Trustee shall use ‘ISIN’ numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed
on the Notes or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The
Company will promptly notify the Trustee in writing of any change in the ‘ISIN’ numbers. The Company may also use a ‘Common Code’ number.” 
 Section 2.21 Consequential Damages. 
 Section 602 of the Original
Indenture is hereby amended with respect to the Notes (but not with respect to any other series of Securities) to add the following: 
 “(13) The Trustee shall have no liability for special, punitive or consequential damages (including lost profit), whether foreseeable or unforeseeable.” 

Section 2.22 Payment and Reimbursement. 
 At or prior to 10 a.m. New York City time on the payment date for any amount due on any Notes, the Company will deposit with the Trustee or a Paying Agent the full amount due on the Notes on such payment
date, and the Trustee or such Paying Agent will make the related payment on the Notes on such payment date as soon as practicable after it has received such amount from the Company. If the Trustee or such Paying Agent has not received by 10 a.m. New
York City time on the relevant payment date of any Notes the full amount in cleared, immediately available funds payable in respect thereof on such date and confirmation satisfactory to itself that such payment in full has been received, it shall
not be required to make payment of any amount due on any Note until it has received such funds from the Company. Nevertheless, subject to the foregoing, if the Trustee or any Paying Agent is satisfied that it will receive such full amount later, it
may in its absolute discretion (but shall not be obligated to) pay any such amount due on the Notes (including, without limitation, interest or principal amounts or any Additional Amounts) in accordance with their terms. 

If the Trustee or any Paying Agent makes such payment on behalf of the Company in accordance with the preceding paragraph, and it does
not later on that payment date receive the full amount from the Company, the Company shall be liable on demand by the Trustee to repay to the Trustee or such Paying Agent (as directed by the Trustee) the amount (or the unreimbursed portion thereof),
plus interest from (and including) the date such payment was made by the 

  
 9 

 
Trustee or such Paying Agent to (but excluding) the date of receipt by the Trustee or such Paying Agent of the payment in full of such amount (or the unreimbursed portion thereof), at a rate
quoted at that time by the Trustee or such Paying Agent as its cost of funding the payment, plus one per cent. per annum. Such interest shall be compounded daily. 
 ARTICLE III 
 MISCELLANEOUS PROVISIONS 

The Trustee makes no undertaking or representations in respect of, and shall not be responsible in any manner whatsoever for and in
respect of, the validity or sufficiency of this Sixteenth Supplemental Indenture or the proper authorization or the due execution hereof by the Company or for or in respect of the recitals and statements contained herein, all of which recitals and
statements are made solely by the Company. 
 Except as expressly amended hereby, the Original Indenture shall continue in full
force and effect in accordance with the provisions thereof and the Original Indenture is in all respects hereby ratified and confirmed. 
 This Sixteenth Supplemental Indenture and all its provisions shall be deemed a part of the Original Indenture in the manner and to the extent herein and therein provided. This Sixteenth Supplemental
Indenture shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to conflicts of laws principles thereof other than Section 5-1401 of the New York General Obligations Law. 

This Sixteenth Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. 

  
 10 

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

			
	GRUPO TELEVISA, S.A.B.,
	as Issuer
		
	By:	 	 /s/ Salvi Folch Viadero

	Name:	 	Salvi Folch Viadero
	Title:	 	Chief Financial Officer
		
	By:	 	 /s/ Joaquín Balcárcel Santa Cruz

	Name:	 	Joaquín Balcárcel Santa Cruz
	Title:	 	Vice President – Legal and General Counsel

  
 11 

 
			
	THE BANK OF NEW YORK
	MELLON,
	 as Trustee, Registrar, Paying Agent
 and Transfer Agent

		
	By:	 	 /s/ M. Drinkard

	Name:	 	Michelle Drinkard
	Title:	 	Vice President
	
	THE BANK OF NEW YORK
	MELLON, LONDON BRANCH,
	as London Paying Agent
		
	By:	 	 /s/ M. Drinkard

	Name:	 	Michelle Drinkard
	Title:	 	Vice President

  
 12 

 
			
	 THE BANK OF NEW YORK MELLON
 (LUXEMBOURG) S.A.,

	as Luxembourg Paying Agent and Transfer Agent
		
	By:	 	 /s/ M. Drinkard

	Name:	 	Michelle Drinkard
	Title:	 	Vice President

  
 13 

 Exhibit A 
 THIS NOTE IS REGISTERED IN THE NAME OF A COMMON DEPOSITARY, (THE “DEPOSITARY”), OR A NOMINEE THEREOF, FOR CLEARSTREAM BANKING, SOCIÉTÉ ANONYME AND EUROCLEAR BANK
S.A./N.V., WHICH MAY BE TREATED BY GRUPO TELEVISA, S.A.B., THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS GLOBAL NOTE FOR ALL PURPOSES. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS
GLOBAL NOTE 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. 
  

			
	No. 1	  	Ps. 6,500,000,000
	ISIN No. XS0931063779	  	

 Common Code 093106377 
 Grupo Televisa, S.A.B. 
 7.25% Peso Denominated Senior Note due 2043,
Payable in Mexican Pesos 
 Grupo Televisa, S.A.B., a publicly traded limited liability stock corporation (sociedad
anónima bursátil), organized under the laws of the United Mexican States (hereinafter called the “Company,” which term includes any successor corporation under the Indenture referred to below), for value received, hereby
promises to pay to The Bank of New York Depository (Nominees) Limited, or its registered assigns, as the nominee of The Bank of New York Mellon, London Branch as common depositary for Clearstream Banking, société anonyme and Euroclear
Bank S.A./N.V., the principal sum of SIX BILLION FIVE HUNDRED MILLION Mexican Pesos (Ps. 6,500,000,000) on May 14, 2043, and to pay interest thereon from the later of May 14, 2013, or the most recent date to which interest has been paid or
provided for, semi-annually on May 14 and November 14, in each year (each, an “Interest Payment Date”), commencing on November 14, 2013, at the rate of 7.25% per annum, until the principal hereof is paid or made
available for payment on May 14, 2043. Interest on this Note shall be calculated on the basis of the actual number of days elapsed during the relevant interest period and a 360-day year. If any payment is due on the Note on a day that is not a
Business Day, the related payment of principal, interest, premium and Additional Amounts will be made on the next succeeding Business Day; and no interest will accrue on the amounts so payable for the period from and after such payment date to the
next succeeding Business Day. The interest so payable and paid or provided for on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at
the close of business on the Regular Record Date for such interest, which shall be the fifteenth calendar day (whether or not a Business Day) preceding such Interest Payment Date. Any such interest which is payable, but is not paid or provided for,
on any Interest Payment Date other than the date of Maturity shall forthwith cease to be payable to the registered Holder hereof as of the close of business on the 

  
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related Regular Record Date by virtue of having been such Holder, and may be paid either (i) to the Person in whose name this Note (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest that is fixed by the Company, written notice of which shall be given to the Holders of Notes of this Series not less than 10 days prior to such Special Record
Date, or (ii) at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in
such Indenture. 
 Payment of principal, interest, Additional Amounts and any other amounts due on this Note will be made at the
office or agency of the Company maintained for that purpose in The Borough of Manhattan, The City of New York, in Mexican Pesos; provided, however, that, at the option of the Company, interest may be paid by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register; provided, further, that payment to the Depositary may be made by wire transfer to the account designated by the Depositary in writing. 

This Note is a global Security issued on the date hereof which represents Ps. 6,500,000,000 of the principal amount of the Company’s
7.25% Peso Denominated Senior Notes due 2043. This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”) issued and to be issued in one series under an Indenture, dated as of August 8, 2000,
as supplemented by the First Supplemental Indenture, dated as of August 8, 2000, the Second Supplemental Indenture, dated as of January 19, 2001, the Third Supplemental Indenture, dated as of September 13, 2001, the Fourth
Supplemental Indenture, dated as of March 11, 2002, the Fifth Supplemental Indenture, dated as of March 8, 2002, the Sixth Supplemental Indenture, dated as of July 31, 2002, the Seventh Supplemental Indenture, dated as of
March 18, 2005, the Eighth Supplemental Indenture, dated as of May 26, 2005, the Ninth Supplemental Indenture, dated as of September 6, 2005, the Tenth Supplemental Indenture, dated as of May 9, 2007, the Eleventh Supplemental
Indenture, dated as of August 24, 2007, the Twelfth Supplemental Indenture, dated as of May 12, 2008, the Thirteenth Supplemental Indenture, dated as of August 21, 2008, the Fourteenth Supplemental Indenture, dated as of
November 30, 2009 and the Fifteenth Supplemental Indenture, dated as of March 22, 2010 (herein called, together with the Sixteenth Supplemental Indenture referred to below and all other indentures supplemental thereto, the
“Indenture”) between the Company and The Bank of New York Mellon, as Trustee (herein called the ‘Trustee”, which term includes any successor trustee under the Indenture), to which the Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and of the terms upon which the Notes are, and are to be,
authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited (subject to exceptions provided in the Indenture) to the aggregate principal amount specified in the Sixteenth Supplemental Indenture among
the Company, The Bank of New York Mellon, as Trustee, Registrar, Paying Agent and Transfer Agent, The Bank of New York Mellon, London Branch, as London Paying Agent, and The Bank of New York Mellon (Luxembourg) S.A., as Luxembourg Paying Agent and
Transfer Agent, dated as of May 14, 2013, establishing the terms of the Notes pursuant to the Indenture (the “Sixteenth Supplemental Indenture”). 

  
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 If an Event of Default with respect to the Notes shall occur and be continuing, the
principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of each series issued under the Indenture at any time
by the Company and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time Outstanding of each series affected thereby. The Indenture also contains provisions permitting the
Holders of specified percentages in aggregate principal amount of the Notes of any series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Notes issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note or such Notes. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and
interest on this Note, at the times, place and rate, and in the coin or currency, herein and in the Indenture prescribed. 
 As
provided in the Indenture and subject to certain limitations set forth therein and in this Note, the transfer of this Note may be registered on the Security Register upon surrender of this Note for registration of transfer at the office or agency of
the Company maintained for the purpose in any place where the principal of and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar
duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees. 
 The Notes are issuable in book-entry fully registered form without coupons in minimum
denominations of Ps. 2,000,000, and integral multiples of Ps. 10,000 as specified in the Sixteenth Supplemental Indenture establishing the terms of the Notes and as more fully provided in the Original Indenture. As provided in the Original
Indenture, and subject to certain limitations set forth in the Original Indenture and in this Note, the Notes are exchangeable for a like aggregate principal amount of Notes of this Series in different authorized denominations, as requested by the
Holders surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith, other than in certain cases provided in the Indenture. 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
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 The Company (i) may be discharged from its obligations with respect to the Notes
(subject to certain exceptions) or (ii) may be released from its obligation under specified covenants and agreements in the Indenture. In order to be discharged from its obligations pursuant to clause (i) of the prior sentence, the Company
must comply with the provisions of Sections 401 and 403 of the Indenture; provided, however, notwithstanding anything to the contrary contained in Section 401 of the Indenture, the Company shall irrevocably have deposited or caused to be
deposited with the Trustee, in trust, funds specifically pledged as security for, and dedicated solely to, the benefit of the Holders of the Notes in the Currency in which the Notes are payable or Government Obligations which through the scheduled
payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment of principal of (and premium, if any) and interest, if any, and any Additional Amounts, on
the Notes, money in an amount sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge the entire indebtedness on the
Notes with respect to principal (and premium, if any) and interest and any Additional Amounts to the date of the deposit (if the Notes have become due and payable) or to the Stated Maturity thereof, as the case may be. In order to be released from
its obligations under specified covenants and agreements in the Indenture pursuant to clause (ii) of the first sentence of this paragraph, the Company must comply with the provisions of Sections 402 and 403 of the Indenture. 

This Note shall be governed by and construed in accordance with the laws of the State of New York without giving effect to any provisions
relating to conflicts of laws other than Section 5-1401 of the New York General Obligations Law. 
 All terms used in this
Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 Unless the certificate of
authentication hereon has been executed by or on behalf of the Trustee under the Indenture by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefits under the Indenture or be valid or obligatory
for any purpose. 

  
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 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
  

											
		 		 		 		 	 GRUPO TELEVISA, S.A.B.

						
	        	 	Attest:	 	  
	 		 	By:	 	  

		 		 	Name:	 		 	Name:	 	
		 		 	Title:	 		 	Title:	 	
						
		 		 		 		 	By:	 	  

		 		 		 		 	Name:	 	
		 		 		 		 	Title:	 	

  
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 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series designated therein referred to in the within- mentioned Indenture. 

 

							
	 Dated: May 14, 2013
	 		 		 	 THE BANK OF NEW YORK

MELLON,
 as Trustee

				
		 		 	By:	 	  

  
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 FORM OF REVERSE OF SECURITY 

This Note is one of a duly authorized issue of Notes of the Company designated as its 7.25% Peso Denominated Senior Notes due 2043
(hereinafter called the “Notes”), limited in aggregate principal amount to Ps.6,500,000,000, issued and to be issued under a Sixteenth Supplemental Indenture, dated as of May 14, 2013 (hereinafter called the “Sixteenth
Supplemental Indenture”), among the Company, The Bank of New York Mellon, as Trustee, Registrar, Paying Agent and Transfer Agent, The Bank of New York Mellon, London Branch, as London Paying Agent, and The Bank of New York Mellon
(Luxembourg) S.A., as Luxembourg Paying Agent and Transfer Agent. 
 Payments of principal, interest, Additional Amounts and any
other amounts due in respect of the Notes will be made in Mexican Pesos. Holders with accounts that cannot accept payments on Notes in Mexican Pesos or who wish to receive payments in Dollars must determine how to convert these payments into Dollars
or another currency. Holders will be responsible for paying all commissions and fees related to any currency conversion with respect to any payment on Notes. 
 Additional Amounts. All payments of amounts due in respect of the Notes by the Company will be made without withholding or deduction for or on account of any present or future taxes or duties of
whatever nature imposed or levied by or on behalf of Mexico, or any political subdivision thereof or any agency or authority of or in Mexico (“Taxes”) unless the withholding or deduction of such Taxes is required by law or by the
interpretation or administration thereof. In that event, the Company will pay such additional amounts (“Additional Amounts”) as may be necessary in order that the net amounts receivable by the Holders after such withholding or
deduction shall equal the respective amounts which would have been receivable in respect of the Notes, in the absence of such withholding or deduction, which Additional Amounts shall be due and payable when the amount to which such Additional
Amounts relate are due and payable; except that no such Additional Amounts shall be payable with respect to: 

(i) any Taxes which are imposed on, or deducted or withheld from, payments made to the Holder or beneficial owner of the
Notes by reason of the existence of any present or former connection between the Holder or beneficial owner of the Notes (or between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial
owner, if such Holder or beneficial owner is an estate, trust, corporation or partnership) and Mexico (or any political subdivision or territory or possession thereof or area subject to its jurisdiction) (including, without limitation, such Holder
or beneficial owner (or such fiduciary, settlor, beneficiary, member, shareholder or possessor) (x) being or having been a citizen or resident thereof, (y) maintaining or having maintained an office, permanent establishment, fixed base or
branch therein, or (z) being or having been present or engaged in a trade or business therein) other than the mere holding of such Notes or the receipt of amounts due in respect thereof; 

(ii) any estate, inheritance, gift, sales, stamp, transfer or personal property Tax; 

  
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 (iii) any Taxes that are imposed on, or withheld or deducted from, payments
made to the Holder or beneficial owner of the Notes to the extent such Taxes would not have been so imposed, deducted or withheld but for the failure by such Holder or beneficial owner of such Notes to comply with any certification, identification,
information, documentation or other reporting requirement concerning the nationality, residence, identity or connection with Mexico (or any political subdivision or territory or possession thereof or area subject to its jurisdiction) of the Holder
or beneficial owner of such Notes if (x) such compliance is required or imposed by a statute, treaty, regulation, rule, ruling or administrative practice in order to make any claim for exemption from, or reduction in the rate of, the
imposition, withholding or deduction of any Taxes, and (y) at least 60 days prior to the first payment date with respect to which the Company shall apply this clause (iii), the Company shall have notified all the Holders of Notes, in writing,
that such Holders or beneficial owners of the Notes will be required to provide such information or documentation; 
 (iv) any Taxes imposed on, or withheld or deducted from, payments made to a Holder or beneficial owner of the Notes at a rate in excess of the 4.9% rate of Tax in effect on the date hereof and uniformly
applicable in respect of payments made by the Company to all Holders or beneficial owners eligible for the benefits of a treaty for the avoidance of double taxation to which Mexico is a party without regard to the particular circumstances of such
Holders or beneficial owners (provided that, upon any subsequent increase in the rate of Tax that would be applicable to payments to all such Holders or beneficial owners without regard to their particular circumstances, such increased rate shall be
substituted for the 4.9% rate for purposes of this clause (iv)), but only to the extent that (x) such Holder or beneficial owner has failed to provide on a timely basis, at the reasonable request of the Company (subject to the conditions set
forth below), information, documentation or other evidence concerning whether such Holder or beneficial owner is eligible for benefits under a treaty for the avoidance of double taxation to which Mexico is a party if necessary to determine the
appropriate rate of deduction or withholding of Taxes under such treaty or under any statute, regulation, rule, ruling or administrative practice, and (y) at least 60 days prior to the first payment date with respect to which the Company shall
make such reasonable request, the Company shall have notified the Holders of the Notes, in writing, that such Holders or beneficial owners of the Notes will be required to provide such information, documentation or other evidence; 

(v) to or on behalf of a Holder of the Notes in respect of Taxes that would not have been imposed but for the presentation
by such Holder for payment on a date more than 15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for and notice thereof given to Holders, whichever occurs later, except to the
extent that the Holder of such Notes would have been entitled to Additional Amounts in respect of such Taxes on presenting such Notes for payment on any date during such 15- day period; or 

(vi) any withholding or deductions imposed on a payment to an individual required to be made pursuant to the European
Council Directive 2003/48/EC (the “Directive”) or any law implementing or introduced in order to conform to, such Directive; or 

  
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 (vii) any combination of (i), (ii), (iii), (iv), (v) or (vi) above
(the Taxes described in clauses (i) through (vii), for which no Additional Amounts are payable, are hereinafter referred to as “Excluded Taxes”). 
 Notwithstanding the foregoing, the limitations on the Company’s obligation to pay Additional Amounts set forth in clauses (iii) and (iv) above shall not apply if (a) the provision of
information, documentation or other evidence described in such clauses (iii) and (iv) would be materially more onerous, in form, in procedure or in the substance of information disclosed, to a Holder or beneficial owner of a Note (taking
into account any relevant differences between U.S. and Mexican law, rules, regulations or administrative practice) than comparable information or other reporting requirements imposed under U.S. tax law, regulations and administrative practice (such
as IRS Forms W-8BEN and W-9) or (b) Rule I.3.17.10 issued by the Secretaría de Hacienda y Crédito Público (Ministry of Finance and Public Credit), or a substantially similar successor of such rule is in effect,
unless the provision of the information, documentation or other evidence described in clauses (iii) and (iv) is expressly required by statute, regulation, rule, ruling or administrative practice in order to apply Rule I.3.17.10 (or a
substantially similar successor of such rule), the Company cannot obtain such information, documentation or other evidence on its own through reasonable diligence and the Company otherwise would meet the requirements for application of Rule
I.3.17.10 (or such other successor of such rule). In addition, such clauses (iii) and (iv) shall not be construed to require that a non-Mexican pension or retirement fund or a non-Mexican financial institution or any other Holder register
with the Ministry of Finance and Public Credit for the purpose of establishing eligibility for an exemption from or reduction of Mexican withholding tax or to require that a Holder or beneficial owner certify or provide information concerning
whether it is or is not a tax-exempt pension or retirement fund. 
 At least 30 days prior to each date on which any payment
under or with respect to the Notes is due and payable, if the Company will be obligated to pay Additional Amounts with respect to such payment (other than Additional Amounts payable on the date of the Indenture or Supplemental Indenture relating to
such Notes), the Company will deliver to the relevant Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable and the amounts so payable and will set forth such other information necessary to enable the
relevant Trustee to pay such Additional Amounts to Holders on the payment date. Whenever either in the Indenture or such Supplemental Indenture there is mentioned, in any context, the payment of principal (and premium, if any), Redemption Price,
interest or any other amount payable under or with respect to any Notes, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in
respect thereof. 
 The Company will provide the Trustee with documentation evidencing the payment of Mexican taxes in respect
of which the Company has paid any Additional Amounts. Copies of such documentation will be made available to the Holders or the paying agent, as applicable, upon request therefor. 

  
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 In addition, the Company will pay any stamp, issue, registration, documentary or other
similar taxes and other duties (including interest and penalties) (a) payable in Mexico or the United States (or any political subdivision of either jurisdiction) in respect of the creation, issue and offering of the Notes, and (b) payable
in Mexico (or any political subdivision thereof) in respect of the subsequent redemption or retirement of the Notes (other than, in the case of any subsequent redemption or retirement, Excluded Taxes; except for this purpose, the definition of
Excluded Taxes will not include those defined in clause (ii) thereof). 
 Redemption. Except as provided below under
“Optional Redemption with ‘Make-Whole’ Amount” and “Withholding Tax Redemption” the Notes are not redeemable by the Company prior to their maturity date. 

Optional Redemption With “Make-Whole” Amount. The Company may, at its option, redeem any of the Notes (the
“Optional Redemption”) in whole or in part, at any time or from time to time prior to their Stated Maturity, on at least 30 days’ but not more than 60 days’ notice to Holders of the Redemption Date mailed by first class mail to
each Holder’s registered address, at a redemption price equal to the greater of (1) 100% of the principal amount of such Notes redeemed and (2) the sum of the present values of each remaining scheduled payment of principal and
interest thereon (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (calculated on the basis of the actual number of days in each such remaining interest period and a 360-day year) at the
M Bono Rate (the “Make-Whole Amount”), plus in each case accrued and unpaid interest on the principal amount of the Notes to the Redemption Date. 
 “M Bono Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity or interpolated maturity (on a day count basis) of the
Comparable M Bono Issue, assuming a price for the Comparable M Bono Issue (expressed as a percentage of its principal amount) equal to the Comparable M Bono Price for such Redemption Date. 

“Comparable M Bono Issue” means the Mexican Bonos de Desarrollo del Gobierno Federal con Tasa de Interés Fija
security or securities selected by an Independent Investment Banker as having an actual or interpolated 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 a comparable maturity to the remaining term of such Notes. 
 “Independent Investment Banker” means one of the Reference M Bono Dealers appointed by the Company. 
 “Comparable M Bono Price” means, with respect to any Redemption Date (1) the average of the Reference M Bono Dealer Quotations for such Redemption Date, after excluding the highest and
lowest such Reference M Bono Dealer Quotation or (2) if the Company obtains fewer than four such Reference M Bono Dealer Quotations, the average of all such quotations. 

  
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 “Reference M Bono Dealer” means (i) Banco Nacional de México, S.A.,
Institución de Banca Múltiple, Grupo Financiero Banamex; (ii) Deutsche Securities, S.A. de C.V., Casa de Bolsa; (iii) HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC; and
(iv) Morgan Stanley México, Casa de Bolsa, S.A. de C.V., or their affiliates that are primary Mexican government securities dealers; provided, however, that if any of the foregoing shall cease to be a primary Mexican government
securities dealer in Mexico City (a “Primary M Bono Dealer”), the Company will substitute therefor another Primary M Bono Dealer. 
 “Reference M Bono Dealer Quotation” means, with respect to each Reference M Bono Dealer and any Redemption Date, the average, as determined by the Company, of the bid and ask prices for the
Comparable M Bono Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference M Bono Dealer at 2:30 pm Mexico City time on the third Business Day preceding such 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 Make-Whole Amount and accrued interest). On or before the Redemption Date, the Company will deposit with the Trustee money sufficient to pay the Make-Whole Amount and (unless the
Redemption Date shall be an Interest Payment Date) accrued interest to the Redemption Date on the Notes to be redeemed on such date. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected in accordance with the
applicable procedures of Euroclear and Clearstream Banking or, in the case of certificated Notes, by the Trustee by such method as the Trustee shall deem fair and appropriate. 
 The election of the Company to redeem the Notes shall be evidenced by a certificate (a “Make-Whole Redemption Certificate”) of an Officer of the Company, which certificate shall be delivered to
the Trustee. The Company shall, not less than 45 days nor more than 60 days prior to the Redemption Date (and no less than 5 Business Days prior to the date when notice will be sent to Holders), notify the Trustee in writing of such Redemption Date
and of all other information necessary to the giving by the Trustee of notices of the Optional Redemption at the Company’s expense. The Trustee shall be entitled to rely conclusively upon the information so furnished by the Company in the
Make-Whole Redemption Certificate and shall be under no duty to check the accuracy or completeness thereof. Such notice shall be irrevocable and upon its delivery the Company shall be obligated to make the payment or payments to the Trustee referred
to therein as set forth in the preceding paragraph. 
 Notice of the Optional Redemption shall be given by the Trustee to the
Holders, in accordance with the provisions of Section 106 of the Original Indenture, upon the mailing by first-class postage prepaid to each Holder at the address of such Holder as it appears in the Register not less than 30 days nor more than
60 days prior to the Redemption Date. For Global Securities, such notice may be sent to Euroclear and Clearstream Banking in accordance with their applicable procedures. 
 The notice of Optional Redemption shall state: 
 (i) the Redemption
Date; 
 (ii) the Make-Whole Amount; 

(iii) the sum of all other amounts due to the Holders under the Notes and the Indenture; 

  
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 (iv) that on the Redemption Date the Make-Whole Amount and accrued interest
will become due and payable upon each such Note so to be redeemed; 
 (v) the place or places, including the
offices of the Company’s Paying Agent in Luxembourg, where such Notes so to be redeemed are to be surrendered for payment of the Make-Whole Amount and accrued interest; and 

(vi) the ISIN number of the Notes. 
 Notice of the Optional Redemption having been given as aforesaid, the Notes so to be redeemed shall, on the Redemption Date, become due and payable at the Make-Whole Amount and accrued interest therein
specified. Upon surrender of any such Notes for redemption in accordance with such notice, such Notes shall be paid by the Paying Agent on behalf of the Company on the Redemption Date; provided that moneys sufficient therefor have been
deposited with the Trustee for the Holders no later than 10 a.m. New York City time on the Redemption Date. 
 Notwithstanding
anything to the contrary in the Indenture or in the Notes, if a Make-Whole Redemption Certificate has been delivered to the Trustee with respect to all of the outstanding Notes and the Company shall have paid to the Trustee for the benefit of the
Holders (i) the Make-Whole Amount and accrued interest and (ii) all other amounts due to the Holders and the Trustee under the Notes and the Indenture, then neither the Holders nor the Trustee on their behalf shall any longer be entitled
to exercise any of the rights of the Holders under the Notes other than the rights of the Holders to receive payment of such amounts from the Trustee or the Paying Agent, and the occurrence of an Event of Default whether before or after such payment
by the Company to the Trustee for the benefit of the Holders shall not entitle either the Holders or the Trustee on their behalf after such payment to declare the principal of any Notes then outstanding to be due and payable on any date prior to the
Redemption Date. The funds paid to the Trustee shall be used to redeem the Notes on the Redemption Date. 
 Repurchase of
Notes upon a Change of Control. The Company must commence, within 30 days of the occurrence of a Change of Control, and consummate an Offer to Purchase all Notes then outstanding, at a purchase price equal to 101% of the principal amount of the
Notes on the date of repurchase, plus accrued interest (if any) to the date of purchase. The Company is not required to make an Offer to Purchase following a Change of Control if a third party makes an Offer to Purchase that would be in compliance
with the provisions described in this Section if it were made by the Company and such third party purchases (for the consideration referred to in the immediately preceding sentence) the Notes validly tendered and not withdrawn. Prior to the mailing
of the notice to Holders and publishing such notice to Holders in a daily newspaper of general circulation in Luxembourg commencing such Offer to Purchase, but in any event within 30 days following any Change of Control, the Company, covenants to
(i) repay in full all indebtedness of the Company that would prohibit the repurchase of the Notes pursuant to such Offer to Purchase or (ii) obtain any requisite consents under instruments governing any such indebtedness of the Company to
permit the repurchase of the Notes. The Company shall first comply with the covenant in the preceding sentence before it shall be required to repurchase Notes pursuant to this covenant. 

  
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 Withholding Tax Redemption. The Notes are subject to redemption (“Withholding
Tax Redemption”) at any time (a “Withholding Tax Redemption Date”), as a whole but not in part, at the election of the Company, at a redemption price equal to 100% of the unpaid principal amount thereof plus accrued and unpaid
interest, if any, to and including the Withholding Tax Redemption Date (the “Withholding Tax Redemption Price”) if, as a result of (i) any change in or amendment to the laws, rules or regulations of Mexico, or any political
subdivision or taxing authority or other instrumentality thereof or therein, or (ii) any amendment to or change in the rulings or interpretations relating to such laws, rules or regulations made by any legislative body, court or governmental or
regulatory agency or authority (including the enactment of any legislation and the publication of any judicial decision or regulatory determination) of Mexico, or any political subdivision or taxing authority or other instrumentality thereof or
therein, or (iii) any official interpretation, application or pronouncement by any legislative body, court or governmental or regulatory agency or authority that provides for a position with respect to such laws, rules or regulations that
differs from the theretofore generally accepted position, which amendment or change is enacted, promulgated, issued or announced or which interpretation, application or pronouncement is issued or announced, in each case, after the Closing Date, the
Company has become or would become required to pay any Additional Amounts in excess of those attributable to Taxes that are imposed, deducted or withheld at a rate of 4.9% on or from any payments under the Notes. 

The election of the Company to redeem the Notes shall be evidenced by a certificate (a “Withholding Tax Redemption
Certificate”) of a financial officer of the Company, which certificate shall be delivered to the Trustee. The Company shall, not less than 35 days nor more than 45 days prior to the Withholding Tax Redemption Date, notify the Trustee in writing
of such Withholding Tax Redemption Date and of all other information necessary to the giving by the Trustee of notices of such Withholding Tax Redemption. The Trustee shall be entitled to rely conclusively upon the information so furnished by the
Company in the Withholding Tax Redemption Certificate and shall be under no duty to check the accuracy or completeness thereof Such notice shall be irrevocable and upon its delivery the Company shall be obligated to make the payment or payments to
the Trustee referred to therein at least two Business Days prior to such Withholding Tax Redemption Date. 
 Notice of
Withholding Tax Redemption shall be given by the Trustee to the Holders, in accordance with the provisions of Section 106 of the Original Indenture, upon the mailing by first-class postage prepaid to each Holder at the address of such Holder as
it appears in the Register not less than 30 days nor more than 60 days prior to the Withholding Tax Redemption Date. 
 The
notice of Withholding Tax Redemption shall state: 
 (i) the Withholding Tax Redemption Date; 

(ii) the Withholding Tax Redemption Price; 

(iii) the sum of all other amounts due to the Holders under the Notes and the Indenture; 

  
 A-13

 (iv) that on the Withholding Tax Redemption Date the Withholding Tax
Redemption Price will become due and payable upon each such Note so to be redeemed; 
 (v) the place or places,
including the offices of our Paying Agent in Luxembourg, where such Notes so to be redeemed are to be surrendered for payment of the Withholding Tax Redemption Price; and 

(vi) the ISIN number of the Notes. 
 Notice of Withholding Tax Redemption having been given as aforesaid, the Notes so to be redeemed shall, on the Withholding Tax Redemption Date, become due and payable at the Withholding Tax Redemption
Price therein specified. Upon surrender of any such Notes for redemption in accordance with such notice, such Notes shall be paid by the Paying Agent on behalf of the Company on the Withholding Tax Redemption Date; provided that moneys
sufficient therefor have been deposited with the Trustee for the Holders. 
 Notwithstanding anything to the contrary in the
Indenture or in the Notes, if a Withholding Tax Redemption Certificate has been delivered to the Trustee and the Company shall have paid to the Trustee for the benefit of the Holders (i) the Withholding Tax Redemption Price and (ii) all
other amounts due to the Holders and the Trustee under the Notes and the Indenture, then neither the Holders nor the Trustee on their behalf shall any longer be entitled to exercise any of the rights of the Holders under the Notes other than the
rights of the Holders to receive payment of such amounts from the Trustee or the Paying Agent, and the occurrence of an Event of Default whether before or after such payment by the Company to the Trustee for the benefit of the Holders shall not
entitle either the Holders or the Trustee on their behalf after such payment to declare the principal of any Notes then outstanding to be due and payable on any date prior to the Withholding Tax Redemption Date. The funds paid to the Trustee shall
be used to redeem the Notes on the Withholding Tax Redemption Date. 
 All terms used in this Note which are defined in the
Indenture shall have the meanings assigned to them in the Indenture. 
 THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND
BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ANY PROVISIONS RELATING TO CONFLICTS OF LAWS OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

  
 A-14Exhibit 4.2

 EXHIBIT 4.2 
 COVISINT CORPORATION 
 2009 LONG TERM INCENTIVE PLAN 

 

	I.	GENERAL PROVISIONS 

 1.1
Establishment. On August 24, 2009, the Board of Directors of Covisint Corporation adopted the Covisint Corporation 2009 Long Term Incentive Plan, subject to the approval of the Corporation’s sole shareholder. 

1.2 Purpose. The purpose of the Plan is to (a) promote the best interests of the Corporation and its shareholders by
encouraging Employees and Directors of the Corporation, its Parent and its Subsidiaries to acquire an ownership interest in the Corporation by granting stock-based Awards, thus aligning their interests with those of shareholders, and
(b) enhance the ability of the Corporation to attract, motivate and retain qualified Employees and Directors. It is the further purpose of the Plan to authorize certain Awards that will constitute performance-based compensation, as described in
Code Section 162(m) and Treasury regulations promulgated thereunder. 
 1.3 Plan Duration. Subject to receipt
of shareholder approval, the Plan shall become effective on August 24, 2009 and shall continue in effect until its termination by the Board; provided, however, that no new Awards may be granted on or after August 24, 2019. 

1.4 Definitions. As used in this Plan, the following terms have the meaning described below: 

(a) “Agreement” means the written document that sets forth the terms of a Participant’s Award. 

(b) “Annual Incentive Award” means an Award that is granted in accordance with Article VI. 

(c) “Award” means any form of Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance
Award, Annual Incentive Award or other award granted under the Plan. 
 (d) “Board” means the Board of
Directors of the Corporation. 
 (e) “Change in Control” means the closing or effectiveness of an acquisition
of the Corporation by a third party, regardless of the form of the acquisition, including without limitation: 
 (i) If the
Corporation consolidates with or merges into any other corporation or other entity and is not the continuing or surviving entity of such consolidation or merger, or consummates a statutory share exchange pursuant to which the holders of the Common
Stock receive consideration for their shares by operation of law; 
 (ii) If the Corporation permits any other corporation or
other entity to consolidate with or merge into the Corporation and the Corporation, as the case may be, is the 

 
continuing or surviving entity but, in connection with such consolidation or merger, the Common Stock is changed into or exchanged for stock or other securities of any other corporation or other
entity or cash or any other assets; 
 (iii) If any one person, or more than one person acting as a group (as determined in
accordance with Code Section 409A and IRS guidance thereunder), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of Common Stock of the Corporation
possessing fifty point one (50.1) percent or more of the total voting power of the Common Stock of the Corporation; or 

(iv) If there is a change in the ownership of a substantial portion of the Corporation’s assets, which shall occur on the date that
any one person, or more than one person acting as a group (within the meaning of Code Section 409A and IRS guidance issued thereunder), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by
such person or persons) assets from the Corporation that have a total gross fair market value equal to or more than forty (40) percent of the total gross fair market value of all of the assets of the Corporation immediately prior to such
acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of the Corporation or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets;

 provided, however, that an acquisition of the Parent shall not be deemed a Change in Control under the Plan. 

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

(g) “Committee” means (x) at any time prior to the Initial Public Offering, the Board and (y) at any time
following the Initial Public Offering, the Compensation Committee of the Board, or any other committee or sub-committee of the Board, designated by the Board from time to time, comprised solely of two or more Directors who are “Non-Employee
Directors,” as defined in Rule 16b-3 of the Exchange Act, “Outside Directors” as defined in Code Section 162(m) and Treasury regulations thereunder, and “Independent Directors” for purposes of the rules and regulations
of the Stock Exchange. However, the fact that a Committee member shall fail to qualify under any of these requirements shall not invalidate any Award made by the Committee, if the Award is otherwise validly made under the Plan. The members of the
Committee shall be appointed by, and may be changed at any time and from time to time, at the discretion of the Board. 
 (h)
“Common Stock” means shares of the Corporation’s authorized common stock, without par value. 
 (i)
“Corporation” means Covisint Corporation, a Michigan corporation. 
 (j) “Director” means an
individual, other than an Employee, who has been elected or appointed to serve as a Director of the Corporation or any Parent or Subsidiary. 

  
 2 

 (k) “Disability” means total and permanent disability, as defined in Code
Section 22(e); provided, however, that for purposes of a Code Section 409A distribution event, “disability” shall be defined under Code Section 409A and IRS guidance issued thereunder. 

(l) “Dividend Equivalent” means a credit, made at the discretion of the Committee or as otherwise provided by the Plan
or the relevant Agreement, to the account of a Participant in an amount equal to the cash dividend paid on one share of Common Stock for each share of Common Stock represented by an Award held by such Participant. 

(m) “Employee” means an individual who has an “employment relationship” (as defined in Treasury Regulation
1.421-1(h)) with the Corporation or any Parent or Subsidiary, and the term “employment” means employment with the Corporation, or any Parent or Subsidiary. 
 (n) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any successor thereto. 

(o) “Fair Market Value” means for purposes of determining the value of Common Stock on the Grant Date, the closing price
of the Common Stock on the Stock Exchange for the last Stock Exchange trading day immediately preceding the Grant Date. In the event that there are no Common Stock transactions on such date, the Fair Market Value shall be determined as of the
immediately preceding date on which there were Common Stock transactions. Unless otherwise specified in the Plan, “Fair Market Value” for purposes of determining the value of Common Stock on the date of exercise or Vesting means the
closing price of the Common Stock on the Stock Exchange for the last date preceding the date of exercise or Vesting on which there were Common Stock transactions. If the Common Stock is not listed on a Stock Exchange on the determination date,
“Fair Market Value” shall be determined in good faith by the Committee in accordance with any applicable resolutions or regulations of the Committee in effect at such time. 

(p) “Grant Date” means the date on which the Committee (or its delegate pursuant to authority delegated in accordance
with Section 1.5(c) of this Plan) authorizes an Award, or such later date as shall be designated by the Committee. 
 (q)
Initial Public Offering” means the initial sale of shares of Common Stock to the public by the Corporation or its Parent after the date hereof pursuant to a registration statement under the Securities Act which has been declared
effective by the Securities and Exchange Commission (other than a registration statement on Form S-4 or Form S-8) if, immediately following the closing of such sale, shares of the Common Stock are registered under Section 12(b) or 12(g) of the
Exchange Act or would be required to be so registered if the date immediately following the closing were the last day of the Corporation’s fiscal year. 
 (r) “Incentive Stock Option” means an Option that is intended to meet the requirements of Section 422 of the Code. 

(s) “Nonqualified Stock Option” means an Option that is not an Incentive Stock Option. 

  
 3 

 (t) “Option” means either an Incentive Stock Option or a Nonqualified Stock
Option. 
 (u) “Parent” means a “parent” (as defined in Code Section 424) of the Corporation,
including without limitation Compuware Corporation. 
 (v) “Participant” means an Employee (including an
Employee who is a director of the Corporation or any Parent or Subsidiary) or Director who is designated by the Committee to participate in the Plan. 
 (w) “Performance Award” means any Award of Performance Shares or Performance Units granted pursuant to Article V. 
 (x) “Performance Measures” means the measures of performance of the Corporation and its Subsidiaries used to determine a Participant’s entitlement to an Award under the Plan. Such
performance measures shall have the same meanings as used in the Corporation’s financial statements, or, if such terms are not used in the Corporation’s financial statements, they shall have the meaning applied pursuant to generally
accepted accounting principles, or as used generally in the Corporation’s industry. Performance Measures shall be calculated with respect to the Corporation and each Subsidiary consolidated therewith for financial reporting purposes or such
division or other business unit as may be selected by the Committee. For purposes of the Plan, the Performance Measures shall be calculated in accordance with generally accepted accounting principles, but, unless otherwise determined by the
Committee, prior to the accrual or payment of any Award under this Plan for the same performance period and excluding the effect (whether positive or negative) of any change in accounting standards or any extraordinary, unusual or nonrecurring item,
as determined by the Committee, occurring after the establishment of the performance goals. Performance Measures shall be one or more of the following, or a combination of any of the following, on an absolute or peer group comparison, as determined
by the Committee: 
  

	 	•	 	 earnings (as measured by net income, gross profit, operating income, operating income before interest, EBIT, EBITA, EBITDA, pre-tax income, or cash
earnings, or earnings as adjusted by excluding one or more components of earnings, including each of the above on a per share and/or segment basis); 

  

	 	•	 	 sales/net sales, growth in sales/net sales, revenues/net revenues, growth in revenues/net revenues, billings/net billings or growth in billings/net
billings; 

  

	 	•	 	 return on net sales or revenues (as measured by net income, gross profit, operating income, operating income before interest, EBIT, EBITA, EBITDA,
pre-tax income, operating cash flow or cash earnings as a percentage of net sales); 

  

	 	•	 	 gross profit margins; 

  

	 	•	 	 cash flow, operating cash flow, free cash flow or discounted cash flow; 

 

	 	•	 	 working capital; 

  

	 	•	 	 market capitalization or total stock market capitalization; 

 

	 	•	 	 return on investment (in cash or otherwise); 

  

	 	•	 	 return on equity, assets, net assets, capital or cost of capital; 

 

	 	•	 	 shareholder value; 

  
 4 

	 	•	 	 total shareholder return; 

  

	 	•	 	 economic value added; 

  

	 	•	 	 stock trading multiples (as measured against investment, net income, gross profit, operating income, operating income before interest, EBIT, EBITA,
EBITDA, pretax income, cash earnings or operating cash flow); and 

  

	 	•	 	 stock price. 

 (y) “Performance Share” means any grant pursuant to Article V and Section 5.2(b)(i). 
 (z) “Performance Unit” means any grant pursuant to Article V and Section 5.2(b)(ii). 
 (aa) “Plan” means the Covisint Corporation 2009 Long Term Incentive Plan, the terms of which are set forth herein, and any amendments thereto. 

(bb) “Restriction Period” means the period of time during which a Participant’s Restricted Stock or Restricted
Stock Unit is subject to restrictions and is nontransferable. 
 (cc) “Restricted Stock” means Common Stock
granted pursuant to Article IV that is subject to a Restriction Period. 
 (dd) “Restricted Stock Unit” means a
right granted pursuant to Article IV to receive Restricted Stock or an equivalent value in cash. 
 (ee) “Securities
Act” means the Securities Act of 1933, as amended. 
 (ff) “Stock Appreciation Right” means the right
to receive a cash or Common Stock payment from the Corporation, in accordance with Article III of the Plan. 
 (gg)
“Stock Exchange” means the principal national securities exchange on which the Common Stock is listed for trading, or, if the Common Stock is not listed for trading on a national securities exchange, such other recognized trading
market or quotation system upon which the largest number of shares of Common Stock has been traded in the aggregate during the last 20 days before a Grant Date, or date on which an Option is exercised or Award Vests, whichever is applicable.

 (hh) “Subsidiary” means a “subsidiary” (as defined in Code Section 424) of the Corporation.

 (ii) “Vest,” “Vested” or “Vesting” means the extent to which an Award granted or
issued hereunder has become exercisable, any applicable Restriction Period has terminated or lapsed in accordance with the Plan and the terms of any respective Agreement pursuant to which such Award was granted or issued, or has become payable in
whole or in part due to the satisfaction of performance goals set forth in any respective Agreement pursuant to which such Award was granted or issued. 

  
 5 

 1.5 Administration. 

(a) The Plan shall be administered by the Committee. The Committee shall interpret the Plan, prescribe, amend, and rescind rules and
regulations relating to the Plan, and make all other determinations necessary or advisable for its administration. The decision of the Committee on any question concerning the interpretation of the Plan or its administration with respect to any
Award granted under the Plan shall be final and binding upon all Participants. No member of the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Award hereunder. 

(b) In addition to any other powers set forth in the Plan and subject to the provisions of the Plan, but, in the case of Awards
designated as Awards under Code Section 162(m), subject to the requirements of Code Section 162(m), the Committee shall have the full and final power and authority, in its discretion to: 

(i) Amend, modify, or cancel any Award, or to waive any restrictions or conditions applicable to any Award or any shares acquired
pursuant thereto; 
 (ii) Subject to Code Section 409A, accelerate, continue, or defer the exercisability or Vesting of
any Award or any shares acquired pursuant thereto; 
 (iii) Authorize, in conjunction with any applicable deferred compensation
plan of the Corporation, that the receipt of cash or Common Stock subject to any Award under this Plan may be deferred under the terms and conditions of such deferred compensation plan; 

(iv) Determine the terms and conditions of Awards granted to Participants, and whether such terms and conditions have been satisfied,
including without limitation as required in Section 7.2 of the Plan; and 
 (v) Establish such other Awards, besides those
specifically enumerated in the Plan, which the Committee determines are consistent with the Plan’s purposes. 
 (c)
Notwithstanding anything in this Plan to the contrary, to the extent permitted by applicable law, the Committee may delegate to the Chief Executive Officer of the Corporation the authority, subject to such terms and limitations as the Committee
shall determine by resolution, to grant Awards to, cancel, modify, or waive rights with respect to, alter, discontinue or terminate Awards held by and otherwise exercise the Committee’s authority under this Plan with respect to Awards held by,
Participants who are not persons subject to Section 16 of the Exchange Act. The acts of the Chief Executive Officer pursuant to such delegated authority shall be treated hereunder as acts of the Committee and the Chief Executive Officer shall
report regularly to the Committee regarding any Award so granted or other actions taken by the Chief Executive Officer pursuant to such delegated authority. 
 1.6 Participants. Participants in the Plan shall be such Employees and Directors as the Committee in its sole discretion may select from time to time. The Committee may grant Awards to an
individual upon the condition that the individual become an Employee or Director of the Corporation or any Parent or Subsidiary, provided that the Award shall be deemed to be granted only on the date that the individual becomes an Employee or
Director, as applicable. 

  
 6 

 1.7 Stock. 

(a) The Corporation has reserved one hundred fifty thousand (150,000) shares of the Corporation’s Common Stock for issuance
pursuant to stock-based Awards, including without limitation, Incentive Stock Options. All amounts in this Section 1.7 shall be adjusted, as applicable, in accordance with Article IX. 

(b) The shares subject to any portion of an Award that is forfeited, cancelled, or expires or otherwise terminates without issuance of
such shares shall, to the extent of such forfeiture, cancellation, expiration, termination, again be available for issuance pursuant to Awards under the Plan to any Participant. 

(c) Shares paid to the Corporation through the tendering of shares by a Participant or the withholding of shares by the Corporation, in
each case to pay the exercise or purchase price for shares subject to an Award (including, without limitation, Options and Restricted Stock) or to satisfy withholding tax liabilities, shall not be added back to the number of shares reserved under
the Plan or that remain available for issuance pursuant to Awards under the Plan. 
 1.8 Repricing. Without the
affirmative vote of holders of a majority of the shares of Common Stock cast in person or by proxy at a meeting of the shareholders of the Corporation at which a quorum representing a majority of all outstanding shares is present or represented by
proxy (or by written consent in lieu of such a meeting if permitted by the Corporation’s bylaws), neither the Board nor the Committee shall approve a program providing for either (a) the cancellation of outstanding Options and/or Stock
Appreciation Rights and the grant in substitution therefore of any new Awards under the Plan having a lower exercise price than the Fair Market Value of the underlying Common Stock on the original Grant Date, (b) the amendment of outstanding
Options and/or Stock Appreciation Rights to reduce the exercise price thereof below the Fair Market Value of the underlying Common Stock on the original Grant Date or (c) the exchange of outstanding Options or Stock Appreciation Rights for cash
or other Awards if the exercise price per share of such outstanding Options or Stock Appreciation Rights is less than the Fair Market Value per share as of the date of the exchange. This Section shall not be construed to apply to “issuing or
assuming a stock option in a transaction to which section 424(a) applies,” within the meaning of Section 424 of the Code. 
  

	II.	STOCK OPTIONS 

 2.1
Grant of Options. The Committee, at any time and from time to time, subject to the terms and conditions of the Plan, may grant Options to such Participants and for such number of shares of Common Stock as it shall designate. Any
Participant may hold more than one Option under the Plan and any other plan of the Corporation or any Parent or Subsidiary. The Committee shall determine the general terms and conditions of exercise, which shall be set forth in a Participant’s
Agreement. No Option granted hereunder may be exercised after the tenth anniversary of the Grant Date. The Committee may designate any Option granted as either an 

  
 7 

 
Incentive Stock Option or a Nonqualified Stock Option, or the Committee may designate a portion of an Option as an Incentive Stock Option or a Nonqualified Stock Option. Unless otherwise provided
in a Participant’s Agreement, Options are intended to satisfy the requirements of Code Section 162(m) and the regulations promulgated thereunder, to the extent applicable. Dividend Equivalents shall not be paid on Option Awards.

 2.2 Incentive Stock Options. Any Option intended to constitute an Incentive Stock Option shall comply with the
requirements of this Section 2.2. An Incentive Stock Option only may be granted to an Employee. No Incentive Stock Option shall be granted with an exercise price below the Fair Market Value of Common Stock on the Grant Date nor with an exercise
term that extends beyond ten (10) years from the Grant Date. An Incentive Stock Option shall not be granted to any Participant who owns (within the meaning of Code Section 424(d)) stock of the Corporation or any Parent or Subsidiary
possessing more than 10 percent of the total combined voting power of all classes of stock of the Corporation or any Parent or Subsidiary unless, at the Grant Date, the exercise price for the Option is at least 110 percent of the Fair Market Value
of the shares subject to the Option and the Option, by its terms, is not exercisable more than five (5) years after the Grant Date. The aggregate Fair Market Value of the underlying Common Stock (determined at the Grant Date) as to which
Incentive Stock Options granted under the Plan (including a plan of any Parent or Subsidiary) may first be exercised by a Participant in any one calendar year shall not exceed $100,000. To the extent that an Option intended to constitute an
Incentive Stock Option shall violate the foregoing $100,000 limitation (or any other limitation set forth in Code Section 422), the portion of the Option that exceeds the $100,000 limitation (or violates any other Code Section 422
limitation) shall be deemed to constitute a Nonqualified Stock Option. 
 2.3 Option Price. The Committee shall
determine the per share exercise price for each Option granted under the Plan. No Option may be granted with an exercise price below 100 percent of the Fair Market Value on the Grant Date. 

2.4 Payment for Option Shares. 
 (a) The purchase price for shares of Common Stock to be acquired upon exercise of an Option granted hereunder shall be paid in full in cash or by personal check, bank draft or money order at the time of
exercise; provided, however, that in lieu of such form of payment, unless otherwise provided in a Participant’s Agreement, payment may be made by (i) delivery to the Corporation of outstanding shares of Common Stock, on such terms and
conditions as may be specified in the Participant’s Agreement; (ii) by delivery to the Corporation of a properly executed exercise notice, acceptable to the Corporation, together with irrevocable instructions to the Participant’s
broker to deliver to the Corporation sufficient cash to pay the exercise price and any applicable income and employment withholding taxes, in accordance with a written agreement between the Corporation and the brokerage firm; (iii) delivery of
other consideration approved by the Committee having a Fair Market Value on the exercise date equal to the total purchase price; (iv) other means determined by the Committee; or (v) any combination of the foregoing. Exercises of Options
granted pursuant to the Plan using any of the above methods shall not entitle the Participant or other holder of the Option to receive any “replacement” or “reload” grant or award pursuant to any replacement option or similar
program now or hereafter existing at the Corporation or any Parent or Subsidiary. 

  
 8 

 (b) Notwithstanding the foregoing, an Option may not be exercised by delivery to or
withholding by the Corporation of shares of Common Stock to the extent that such delivery or withholding (i) would constitute a violation of the provisions of any law or regulation (including the Sarbanes-Oxley Act of 2002), or (ii) if
there is a substantial likelihood that the use of such form of payment would result in adverse accounting treatment to the Corporation or its Parent under generally accepted accounting principles. Until a Participant has been issued a certificate or
certificates for the shares of Common Stock so purchased (or the book entry representing such shares has been made and such shares have been deposited with the appropriate registered book-entry custodian), he or she shall possess no rights as a
record holder with respect to any such shares. 
  

	III.	STOCK APPRECIATION RIGHTS 

3.1 Grant of Stock Appreciation Rights. Stock Appreciation Rights may be granted, held and exercised in such form and upon
such general terms and conditions as determined by the Committee on an individual basis. A Stock Appreciation Right may be granted to a Participant with respect to such number of shares of Common Stock of the Corporation as the Committee may
determine. Unless otherwise provided in a Participant’s Agreement, Stock Appreciation Rights are intended to satisfy the requirements of Code Section 162(m) and the regulations promulgated thereunder, to the extent applicable. No Stock
Appreciation Right shall be granted with an exercise term that extends beyond ten (10) years from the Grant Date. Dividend Equivalents shall not be paid on Stock Appreciation Right Awards. 

3.2 Exercise Price. The Committee shall determine the per share exercise price for each Stock Appreciation Right granted
under the Plan; provided, however, that the exercise price of a Stock Appreciation Right shall not be less than 100 percent of the Fair Market Value on the Grant Date. 
 3.3 Exercise of Stock Appreciation Rights. A Stock Appreciation Right shall be deemed exercised upon receipt by the Corporation of written notice of exercise from the Participant. The
Committee shall specify in a Participant’s Agreement whether payment shall be made in cash or shares of Common Stock, or any combination thereof. 
 3.4 Stock Appreciation Right Payment. Upon exercise of a Stock Appreciation Right, a Participant shall be entitled to payment from the Corporation, in cash, shares, or partly in each (as
determined by the Committee in accordance with any applicable terms of the Agreement), of an amount equal to the difference between (i) the aggregate Fair Market Value on the exercise date for the specified number of shares being exercised, and
(ii) the aggregate exercise price for the specified number of shares being exercised. 
 3.5 Maximum Stock
Appreciation Right Amount Per Share. The Committee may, at its sole discretion, establish (at the time of grant) a maximum amount per share which shall be payable upon the exercise of a Stock Appreciation Right, expressed as a dollar amount.

  
 9 

	IV.	RESTRICTED STOCK AND UNITS 

4.1 Grant of Restricted Stock and Restricted Stock Units. Subject to the terms and conditions of the Plan, the Committee, at
any time and from time to time, may grant shares of Restricted Stock and Restricted Stock Units under the Plan to such Participants and in such amounts as it shall determine. 
 4.2 Restricted Stock Agreement. Each Award of Restricted Stock or Restricted Stock Units shall be evidenced by an Agreement that shall specify the terms of the restrictions, including the
Restriction Period, or periods, the number of Common Stock shares or units subject to the Award, the purchase price for the shares of Restricted Stock, if any, the form of consideration that may be used to pay the purchase price of the Restricted
Stock, including those specified in Section 2.4, and such other general terms and conditions, including performance goal(s), as the Committee shall determine. 
 4.3 Transferability. Except as provided in this Article IV and Section 10.3 of the Plan, the shares of Common Stock subject to an Award of Restricted Stock or Restricted Stock Units
granted hereunder may not be transferred, pledged, assigned, or otherwise alienated or hypothecated until the termination of the applicable Restriction Period or for such period of time as shall be established by the Committee and specified in the
applicable Agreement, or upon the earlier satisfaction of other conditions as specified by the Committee in its sole discretion and as set forth in the applicable Agreement. 
 4.4 Other Restrictions. The Committee shall impose such other restrictions on any shares of Common Stock subject to an Award of Restricted Stock or Restricted Stock Units under the Plan as
it may deem advisable including, without limitation, restrictions under applicable Federal or State securities laws, and the issuance of a legended certificate of Common Stock representing such shares to give appropriate notice of such restrictions
(or, if issued in book entry form, a notation with similar restrictive effect with respect to the book entry representing such shares). The Committee shall have the discretion to waive the applicable Restriction Period with respect to all or any
part of the Common Stock subject to an Award of Restricted Stock or Restricted Stock Units that has not been granted as a Code Section 162(m) Award. 
 4.5 Voting Rights. During the Restriction Period, Participants holding issued and outstanding shares of Common Stock subject to an Award of Restricted Stock may exercise full voting rights
with respect to the Restricted Stock, whether or not such Award has Vested. 
 4.6 Dividends and Dividend
Equivalents. 
 (a) Except as set forth below or in a Participant’s Agreement, during the Restriction Period, a
Participant shall be entitled to receive all dividends and other distributions paid with respect to issued and outstanding shares of Common Stock subject to an Award of Restricted Stock, whether or not such Award has Vested. If any dividends or
distributions are paid in shares of Common Stock during the Restriction Period applicable to an Award of Restricted Stock, the dividend or other distribution shares shall be subject to the same restrictions on transferability as the shares of Common
Stock with respect to which they were paid. 

  
 10 

 (b) The Committee, in its discretion, may provide in the Agreement evidencing any
Restricted Stock Unit that the Participant shall be entitled to receive Dividend Equivalents with respect to the payment of cash dividends on Common Stock having a record date prior to the date on which Restricted Stock Units held by such
Participant are settled. Such Dividend Equivalents, if any, shall be paid by crediting the Participant with additional whole Restricted Stock Units as of the date of payment of such cash dividends on Common Stock. The number of additional Restricted
Stock Units (rounded to the nearest whole number) to be so credited shall be determined by dividing (i) the amount of cash dividends paid on such date with respect to the number of shares of Common Stock represented by the Restricted Stock
Units previously credited to the Participant (including Restricted Stock Units received in connection with prior dividends), by (ii) the Fair Market Value per share of Common Stock on such date. Such additional Restricted Stock Units shall be
subject to the same terms and conditions and shall be settled in the same manner and at the same time (or as soon thereafter as practicable) as the Restricted Stock Units originally subject to the Award. In the event of a dividend or distribution
paid in shares of Common Stock or any other adjustment made upon a change in the capital structure of the Corporation as described in Article IX, appropriate adjustments shall be made in the Participant’s Restricted Stock Unit so that it
represents the right to receive upon settlement any and all new, substituted or additional securities or other property (other than normal cash dividends) to which the Participant would be entitled by reason of the shares of Common Stock issuable
upon settlement of the Restricted Stock Unit, and all such new, substituted or additional securities or other property shall be immediately subject to the same restrictions as are applicable to the Restricted Stock Unit. 

4.7 Settlement of Restricted Stock Units. If a Restricted Stock Unit is payable in Common Stock, the Corporation shall
issue to a Participant, on the date on which Restricted Stock Units subject to the Participant’s Award Vest or on such other date determined by the Committee, in its discretion, and set forth in the Agreement, one (1) share of Common Stock
and/or any other new, substituted or additional securities or other property pursuant to an adjustment described in Section 9.1 for each Restricted Stock Unit then becoming Vested or otherwise to be settled on such date, subject to the
withholding of applicable taxes. Notwithstanding any other provision in this Plan to the contrary, any Restricted Stock Unit, whether settled in Common Stock or cash, shall be paid no later than two and a half (2 1/2) months after the later of the
end of the fiscal or calendar year in which the Restricted Stock Unit Vests. 
  

	V.	PERFORMANCE AWARDS 

 5.1
Grant of Performance Awards. The Committee, at its discretion, may grant Performance Awards to Participants and may determine, on an individual or group basis, the performance goal or goals to be attained pursuant to each Performance
Award. 
 5.2 Terms of Performance Awards. 

(a) Performance Awards shall consist of rights to receive cash, Common Stock or a combination of each, if designated performance goal(s)
are achieved. The terms of a Participant’s Performance Award shall be set forth in a Participant’s Agreement. Each Agreement shall specify the performance goal or goals, which may include the Performance

  
 11 

 
Measures, applicable to a particular Participant or group of Participants, the period over which the targeted goal(s) are to be attained, the payment schedule if the goal(s) are attained, and any
other general terms as the Committee shall determine and conditions applicable to an individual Performance Award. The Committee, at its discretion, may waive all or part of the conditions, goals and restrictions applicable to the receipt of full or
partial payment of a Performance Award that has not been granted as a Code Section 162(m) Award. 
 (b) Performance Awards
may be granted as Performance Shares or Performance Units, at the discretion of the Committee. Performance Awards shall be paid no later than two and a half (2 1/2) months after the later of the end of the fiscal or calendar year in which the
Performance Award is no longer subject to a substantial risk of forfeiture. 
 (i) In the case of Performance Shares, the
Participant shall receive a legended certificate of Common Stock, restricted from transfer prior to the satisfaction of the designated performance goal(s) and restrictions (or shares may be issued in book entry form with a notation having similar
restrictive effect with respect to the book entry representing such shares), as determined by the Committee and specified in the Participant’s Agreement. Prior to satisfaction of the performance goal(s) and restrictions, the Participant shall
be entitled to vote the Performance Shares to the extent such shares are issued and outstanding. Further, any dividends paid on such shares during the performance period automatically shall be reinvested on behalf of the Participant in additional
Performance Shares under the Plan, and such additional shares shall be subject to the same performance goal(s) and restrictions as the other shares under the Performance Share Award. 

(ii) In the case of Performance Units, the Participant shall receive an Agreement from the Committee that specifies the performance
goal(s) and restrictions that must be satisfied before the Corporation shall issue the payment, which may be cash, a designated number of shares of Common Stock, or a combination thereof. 

 

	VI.	ANNUAL INCENTIVE AWARDS 

6.1 Grant of Annual Incentive Awards. 
 (a) The Committee, at its discretion, may grant Annual Incentive Awards to such Participants as it may designate from time to time. The terms of a Participant’s Annual Incentive Award shall be set
forth in the Participant’s individual Agreement. Each Agreement shall specify such general terms and conditions as the Committee shall determine. 
 (b) The determination of Annual Incentive Awards for a given year may be based upon the attainment of specified levels of Corporation or Subsidiary performance as measured by pre-established, objective
performance criteria determined at the discretion of the Committee, including any or all of the Performance Measures. 
 (c) The
Committee shall (i) select those Participants who shall be eligible to receive an Annual Incentive Award, (ii) determine the performance period, (iii) determine target levels of performance, and (iv) determine the level of Annual
Incentive Award to be paid to each selected Participant upon the achievement of each performance level. The Committee generally shall make the foregoing determinations prior to the commencement of services to which an

  
 12 

 
Annual Incentive Award relates (or within the permissible time period established under Code Section 162(m)), to the extent applicable, and while the outcome of the performance goals and
targets is uncertain. 
 6.2 Payment of Annual Incentive Awards. 

(a) Annual Incentive Awards shall be paid in cash. Payments shall be made following a determination by the Committee that the performance
targets were attained and shall be made within two and a half (2 1/2) months after the later of the end of the fiscal or calendar year in which the Annual Incentive Award is no longer subject to a substantial risk of forfeiture. 

(b) The amount of an Annual Incentive Award to be paid upon the attainment of each targeted level of performance shall equal a percentage
of a Participant’s base salary for the fiscal year, a fixed dollar amount, or such other formula, as determined by the Committee. 
  

	VII.	CODE SECTION 162(M) AWARDS 

7.1 Awards Granted Under Code Section 162(m). The Committee, at its discretion, may designate that a Restricted Stock,
Restricted Stock Unit, Performance Share, Performance Unit or Annual Incentive Award shall be granted as a Code Section 162(m) Award. Such an Award must comply with the following additional requirements, which shall control over any other
provision that pertains to such Award under Articles IV, V and VI. 
 (a) Each Code Section 162(m) Award shall be based
upon the attainment of specified levels of pre-established, objective Performance Measures that are intended to satisfy the performance based compensation requirements of Code Section 162(m) and the regulations promulgated thereunder. Further,
at the discretion of the Committee, an Award also may be subject to goals and restrictions in addition to the Performance Measures. 
 (b) For each Code Section 162(m) Award, the Committee shall (i) select the Participant who shall be eligible to receive a Code Section 162(m) Award, (ii) determine the applicable
performance period, (iii) determine the target levels of the Corporation or Subsidiary Performance Measures, and (iv) determine the number of shares of Common Stock or cash (or combination thereof) subject to an Award to be paid to each
selected Participant. The Committee shall make the foregoing determinations prior to the commencement of services to which an Award relates (or within the permissible time period established under Code Section 162(m)) and while the outcome of
the performance goals and targets is uncertain. 
 7.2 Attainment of Code Section 162(m) Goals. 

(a) After each performance period, the Committee shall certify, in writing (which writing may include the minutes for any meeting of the
Committee): (i) if the Corporation has attained the performance targets, and (ii) the number of shares pursuant to the Award that are to become freely transferable, if applicable, or the cash payable under the Award. The Committee shall
have no discretion to waive all or part of the conditions, goals and restrictions applicable to the receipt of full or partial payment of an Award except in the case of the death or Disability of a Participant. 

  
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 (b) Notwithstanding the foregoing, the Committee may, in its discretion, reduce any Award
based on such factors as may be determined by the Committee, including, without limitation, a determination by the Committee that such a reduction is appropriate in light of pay practices of competitors, or the performance of the Corporation, a
Subsidiary or a Participant relative to the performance of competitors, or performance with respect to the Corporation’s strategic business goals. 
 7.3 Individual Participant Limitations. Subject to adjustment as provided in Section 9.1, no Employee Participant in any one fiscal year of the Corporation may be granted
(a) Options or Stock Appreciation Rights with respect to more than twenty-five thousand (25,000) shares of Common Stock; (b) Restricted Stock or Restricted Stock Units that are denominated in shares of Common Stock with respect to
more than twenty-five thousand (25,000) shares; and (c) Performance Awards that are denominated in shares of Common Stock with respect to more than twenty-five thousand (25,000) shares. The maximum dollar value payable to any Employee
Participant in any one fiscal year of the Corporation with respect to Restricted Stock Units, Performance Awards or Annual Incentive Awards that are valued in cash is the lesser of one million dollars ($1,000,000) or two (2) times the
Participant’s base salary as of the beginning of the fiscal year. If an Award is cancelled, the cancelled Award shall continue to be counted towards the applicable limitations. 

 

	VIII. TERMINATION	OF EMPLOYMENT OR SERVICES 

8.1 Options and Stock Appreciation Rights. 
 (a) If, prior to the date when an Option or Stock Appreciation Right first becomes Vested, a Participant’s employment or services are terminated for any reason other than the Participant’s
death, the Participant’s right to exercise the Option or Stock Appreciation Right shall terminate and all rights thereunder shall cease, unless provided otherwise in a Participant’s Agreement. If, prior to the date when an Option or Stock
Appreciation Right first becomes Vested, a Participant’s employment or services are terminated due to the Participant’s death, the Option or Stock Appreciation Right shall accelerate and become fully Vested and exercisable and may be
exercised to the extent provided in paragraph (c) below, unless provided otherwise in a Participant’s Agreement. 

(b) If, on or after the date when an Option or Stock Appreciation Right first becomes Vested, a Participant’s employment or services
are terminated for any reason other than the Participant’s death or Disability, the Participant shall have the right, within the earlier of (i) the expiration of the Option or Stock Appreciation Right, and (ii) three (3) months
after termination of employment or services, as applicable, to exercise the Option or Stock Appreciation Right to the extent that it was exercisable and unexercised on the date of the Participant’s termination of employment or services, subject
to any other limitation on the exercise of the Option or Stock Appreciation Right in effect on the date of exercise. The Committee may designate in a Participant’s Agreement that an Option or Stock Appreciation Right shall terminate at an
earlier or later time than set forth above. 
 (c) If, on or after the date when an Option or Stock Appreciation Right first
becomes Vested, a Participant’s employment or services are terminated due to the Participant’s 

  
 14 

 
death while the Option or Stock Appreciation Right is still exercisable, the person or persons to whom the Option or Stock Appreciation Right shall have been transferred by will or the laws of
descent and distribution shall have the right within the exercise period specified in the Participant’s Agreement to exercise the Option or Stock Appreciation Right to the extent that it was unexercised on the Participant’s date of death,
subject to any other limitation on exercise in effect on the date of exercise. The beneficial tax treatment of an Incentive Stock Option may be forfeited if the Option is exercised more than one (1) year after a Participant’s date of
death. 
 (d) If, on or after the date when an Option or Stock Appreciation Right first becomes Vested, a Participant’s
employment or services are terminated due to the Participant’s Disability, the Participant shall have the right, within the exercise period specified in the Participant’s Agreement, to exercise the Option or Stock Appreciation Right to the
extent that it was exercisable and unexercised on the date of the Participant’s termination of employment or services due to Disability, subject to any other limitation on the exercise of the Option or Stock Appreciation Right in effect on the
date of exercise. If the Participant dies after termination of employment or services, as applicable, while the Option or Stock Appreciation Right is still exercisable, the Option or Stock Appreciation Right shall be exercisable in accordance with
the terms of paragraph (c) above. 
 (e) The Committee, at the time of a Participant’s termination of employment or
services, may accelerate a Participant’s right to exercise an Option or, subject to Code Section 409A and Section 2.1 of the Plan, may extend an Option term. 
 8.2 Restricted Stock and Restricted Stock Units. If a Participant’s employment or services are terminated for any reason other than death, the Participant’s right to shares of
Common Stock subject to a Restricted Stock or Restricted Stock Unit Award that are still subject to a Restriction Period automatically shall terminate and be forfeited by the Participant (or, if the Participant was required to pay a purchase price
for the Restricted Stock, other than for the performance of services, the Corporation shall have the option to repurchase any shares acquired by the Participant which are still subject to the Restriction Period for the purchase price paid by the
Participant). If a Participant’s employment or services are terminated due to the Participant’s death, the remaining Restriction Period on any shares of Common Stock subject to a Restricted Stock or Restricted Stock Unit Award granted
hereunder immediately shall lapse and the shares shall become fully transferable, subject to any applicable Federal or State securities laws, unless provided otherwise in a Participant’s Agreement. The Committee, in its sole discretion, may
provide in a Participant’s Agreement for the continuation of a Restricted Stock Award or Restricted Stock Unit after a Participant’s employment or services are terminated or may waive or, subject to Code Section 409A, change the
remaining restrictions or add additional restrictions, as it deems appropriate. The Committee shall not waive any restrictions on a Code Section 162(m) Restricted Stock or Restricted Stock Unit Award, but the Committee may provide in a
Participant’s Code Section 162(m) Restricted Stock or Restricted Stock Unit Agreement or otherwise that upon the Participant’s termination of employment due to death or Disability prior to the termination of the Restriction Period,
that the performance goals and restrictions shall be deemed to have been satisfied on terms determined by the Committee. 
 8.3
Performance Awards. Performance Awards shall expire and be forfeited by a Participant upon the termination of Participant’s employment or services for any reason to the 

  
 15 

 
extent the associated performance goals and restrictions have not yet been attained. The Committee, in its discretion, may provide in a Participant’s Agreement or, subject to Code
Section 409A, may provide otherwise for the continuation or acceleration of a Performance Award after a Participant’s employment or services are terminated or may waive or change all or part of the conditions, goals and restrictions
applicable to such Performance Award. Notwithstanding the foregoing, the Committee shall not waive any restrictions on a Code Section 162(m) Performance Award, but the Committee may provide in a Participant’s Agreement or otherwise with
respect to such an Award that upon the Participant’s termination of employment or services due to death or Disability prior to the attainment of the associated performance goals and restrictions, that the performance goals and restrictions
shall be deemed to have been satisfied on terms determined by the Committee. 
 8.4 Annual Incentive Awards.

 (a) A Participant who has been granted an Annual Incentive Award and whose employment or services terminate due to Disability
or death prior to the end of the Corporation’s fiscal year shall be entitled to a pro-rated payment of the Annual Incentive Award, based on the number of full months of employment or services during the fiscal year, if the applicable
performance goal(s) are otherwise satisfied for the fiscal year. Any such prorated Annual Incentive Award shall be paid at the same time as Annual Incentive Awards are paid to Employees generally. In the event of the Participant’s death, such
prorated Annual Incentive Award shall be paid to the Participant’s designated beneficiary. 
 (b) Except as otherwise
determined by the Committee in its discretion, a Participant who has been granted an Annual Incentive Award and whose employment or services terminate for any reason other than Disability or death before the payment date of an Annual Incentive
Award, shall forfeit the right to the Annual Incentive Award payment for that fiscal year. 
 8.5 Other Provisions.
The transfer of an Employee from one corporation to another among the Corporation and any of its Parent or Subsidiaries, or a leave of absence under the leave policy of the Corporation or any of its Parent or Subsidiaries shall not be a
termination of employment for purposes of the Plan, unless a provision to the contrary is expressly stated by the Committee in a Participant’s Agreement issued under the Plan. 

 

	IX.	ADJUSTMENTS AND CHANGE IN CONTROL 

 9.1 Adjustments. In the event of a merger, reorganization, consolidation, recapitalization, dividend or distribution (whether in cash, shares or other property), stock split, reverse stock
split, spin-off or similar transaction or other change in corporate structure affecting the Common Stock or the value thereof, such adjustments and other substitutions shall be made to the Plan and Awards as the Committee deems equitable or
appropriate, including adjustments in the aggregate number, class and kind of securities that may be delivered under the Plan and, in the aggregate or to any one Participant, in the number, class, kind and option or exercise price of securities
subject to outstanding Awards granted under the Plan (including, if the Committee deems appropriate, the substitution of similar options to purchase the shares of, or other awards denominated in the shares of, another company, as the Committee may
determine to be 

  
 16 

 
appropriate in its sole discretion). For the avoidance of doubt, in the event the Corporation shall at any time modify its articles of incorporation so that multiple classes or series of Common
Stock of the Corporation are authorized for issuance, it shall be equitable and appropriate for all purposes under this Plan for the Committee to determine, in its sole discretion, that outstanding Options and other Awards will thereafter be
exercisable for, settled in or converted into shares of any class or series of authorized Common Stock (including without limitation a class or series of Common Stock with no voting rights or diminished voting rights in comparison to other classes
or series of Common Stock into which then outstanding shares of Common Stock are converted in connection with such merger, reorganization, consolidation, recapitalization, dividend, distribution or similar transaction). 

9.2 Change in Control. 
 (a) Notwithstanding anything contained herein to the contrary, the Committee, in its discretion, may provide in a Participant’s Agreement or otherwise that upon a Change in Control, any or all of the
following shall occur: (i) any outstanding Option or Stock Appreciation Right granted hereunder immediately shall become fully Vested and exercisable, regardless of any installment provision applicable to such Option or Stock Appreciation
Right; (ii) the remaining Restriction Period on any shares of Common Stock subject to a Restricted Stock or Restricted Stock Unit Award granted hereunder immediately shall lapse and the shares shall become fully transferable, subject to any
applicable Federal or State securities laws; (iii) all performance goals and conditions shall be deemed to have been satisfied and all restrictions shall lapse on any outstanding Performance Awards, which immediately shall become payable
(either in full or pro-rata based on the portion of the applicable performance period completed as of the Change in Control); (iv) all performance targets and performance levels shall be deemed to have been satisfied for any outstanding Annual
Incentive Awards, which immediately shall become payable (either in full or pro-rata based on the portion of the applicable performance period completed as of the Change in Control); or (v) such other treatment as the Committee may determine.

 (b) The Committee may, in its sole discretion and without the consent of any Participant, determine that, upon the occurrence
of a Change in Control, each or any Option or Stock Appreciation Right outstanding immediately prior to the Change in Control shall be cancelled in exchange for a payment with respect to each Vested share of Common Stock subject to such cancelled
Option or Stock Appreciation Right in (i) cash, (ii) stock of the Corporation or of a corporation or other business entity a party to the Change in Control, or (iii) other property which, in any such case, shall be in an amount having
a Fair Market Value equal to the excess of the Fair Market Value of the consideration to be paid per share of Common Stock in the Change in Control transaction over the exercise price per share under such Option or Stock Appreciation Right (the
“Spread”). In the event such determination is made by the Committee, the Spread (reduced by applicable withholding taxes, if any) shall be paid to a Participant in respect of the Participant’s cancelled Options and Stock Appreciation
Rights as soon as practicable following the date of the Change in Control. 

  
 17 

	X.	MISCELLANEOUS 

 10.1
Partial Exercise/Fractional Shares. The Committee may permit, and shall establish procedures for, the partial exercise of Options and Stock Appreciation Rights granted under the Plan. No fractional shares shall be issued in connection
with the exercise of an Option or Stock Appreciation Right or payment of a Performance Award, Restricted Stock Award, Restricted Stock Unit, or Annual Incentive Award; instead, the Fair Market Value of the fractional shares shall be paid in cash, or
at the discretion of the Committee, the number of shares shall be rounded down to the nearest whole number of shares and any fractional shares shall be disregarded. 
 10.2 Rights Prior to Issuance of Shares. No Participant shall have any rights as a shareholder with respect to shares covered by an Award until the issuance of a stock certificate for such
shares (or book entry representing such shares has been made and such shares have been deposited with the appropriate registered book-entry custodian). No adjustment shall be made for dividends or other rights with respect to such shares for which
the record date is prior to the date the certificate is issued except as otherwise provided in the Plan or a Participant’s Agreement or by the Committee. 
 10.3 Non Assignability; Certificate Legend; Removal. 
 (a) Except as
described below or as otherwise determined by the Committee in a Participant’s Agreement, no Award shall be transferable by a Participant except by will or the laws of descent and distribution, and an Option or Stock Appreciation Right shall be
exercised only by a Participant during the lifetime of the Participant. Notwithstanding the foregoing, a Participant may assign or transfer an Award that is not an Incentive Stock Option with the consent of the Committee (each transferee thereof, a
“Permitted Assignee”); provided that such Permitted Assignee shall be bound by and subject to all of the terms and conditions of the Plan and any Agreement relating to the transferred Award and shall execute an agreement satisfactory to
the Corporation evidencing such obligations; and provided further that such Participant shall remain bound by the terms and conditions of the Plan. 
 (b) Each certificate representing shares of Common Stock subject to an Award, to the extent a certificate is issued, shall bear the following legend: 

The sale or other transfer of the shares of stock represented by this certificate, whether voluntary, involuntary or by operation of law,
is subject to certain restrictions on transfer set forth in the Covisint Corporation 2009 Long Term Incentive Plan (“Plan”), rules and administrative guidelines adopted pursuant to such Plan and an Agreement dated [Month DD, YYYY]. A copy
of the Plan, such rules and such Agreement may be obtained from the Secretary of Covisint Corporation. 
 If shares are issued in book entry
form, a notation to the same restrictive effect as the legend above shall be placed on the transfer agent’s books in connection with such shares. 

  
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 (c) Subject to applicable Federal and State securities laws, issued shares of Common Stock
subject to an Award shall become freely transferable by the Participant after all applicable restrictions, limitations, performance requirements or other conditions have terminated, expired, lapsed or been satisfied. Once such issued shares of
Common Stock are released from such restrictions, limitations, performance requirements or other conditions, the Participant shall be entitled to have the legend required by this Section 10.3 removed from the applicable Common Stock certificate
(or notation removed from such book entry). 
 10.4 Securities Laws. 

(a) Anything to the contrary herein notwithstanding, the Corporation’s obligation to sell and deliver Common Stock pursuant to the
exercise of an Option or Stock Appreciation Right or deliver Common Stock pursuant to a Restricted Stock Award, Restricted Stock Unit, Performance Award or Annual Incentive Award is subject to such compliance with Federal and State laws, rules and
regulations applying to the authorization, issuance or sale of securities as the Corporation deems necessary or advisable. The Corporation shall not be required to sell and deliver or issue Common Stock unless and until it receives satisfactory
assurance that the issuance or transfer of such shares shall not violate any of the provisions of the Securities Act or the Exchange Act, or the rules and regulations of the Securities and Exchange Commission promulgated thereunder or those of any
Stock Exchange on which the Common Stock may be listed, the provisions of any State or foreign laws governing the sale of securities, or that there has been compliance with the provisions of such acts, rules, regulations and laws. Prior to any grant
of an Award or sale of shares upon exercise of an Option not registered under the Securities Act, the Corporation shall deliver the information required by Rule 701 under the Securities Act to the extent necessary for such grant or sale to be exempt
from registration under the Securities Act. 
 (b) The Committee may impose such restrictions on any shares of Common Stock
acquired pursuant to the exercise of an Option or Stock Appreciation Right or the grant of Restricted Stock or Restricted Stock Units or the payment of a Performance Award or Annual Incentive Award under the Plan as it may deem advisable, including,
without limitation, restrictions (i) under applicable Federal securities laws; (ii) under the requirements of the Stock Exchange or any other securities exchange or recognized trading market or quotation system upon which such shares of
Common Stock are then listed or traded; and (iii) under any blue sky or State or foreign securities laws applicable to such shares. 
 10.5 Withholding Taxes. 
 (a) The Participant’s employer shall
have the right to withhold from a Participant’s compensation or require a Participant to remit sufficient funds to satisfy applicable withholding for income and employment taxes upon the exercise of an Option or Stock Appreciation Right or the
lapse of the Restriction Period on a Restricted Stock Award or Restricted Stock Unit, or the payment of a Performance Award or Annual Incentive Award. A Participant may, in order to fulfill the withholding obligation, tender previously-acquired
shares of Common Stock or have shares of stock withheld from the exercise, provided that the shares have an aggregate Fair Market Value sufficient to satisfy in whole or in part the applicable withholding taxes. The broker-assisted exercise
procedure described in Section 2.4(a)(ii) may also be utilized to satisfy the withholding requirements related to the exercise of an Option. 

  
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 (b) Notwithstanding the foregoing, a Participant may not use shares of Common Stock to
satisfy the withholding requirements to the extent that (i) there is a substantial likelihood that the use of such form of payment or the timing of such form of payment would subject the Participant to a substantial risk of liability under
Section 16 of the Exchange Act; (ii) such withholding would constitute a violation of the provisions of any law or regulation (including the Sarbanes-Oxley Act of 2002); or (iii) there is a substantial likelihood that the use of such
form of payment would result in adverse accounting treatment to the Corporation or its Parent under generally accepted accounting principles. 
 10.6 Termination and Amendment. 
 (a) The Board may terminate the
Plan, or the granting of Awards under the Plan, at any time. No new Awards shall be granted under the Plan after August 24, 2019. 
 (b) The Board may amend or modify the Plan at any time and from time to time, and the Committee may amend or modify the terms of an outstanding Agreement at any time and from time to time, but no
amendment or modification, without the approval of the shareholders of the Corporation, shall (i) materially increase the benefits accruing to Participants under the Plan; (ii) increase the amount of Common Stock for which Awards may be
made under the Plan, except as permitted under Sections 1.7 and Article 9; or (iii) change the provisions relating to the eligibility of individuals to whom Awards may be made under the Plan. In addition, if the Corporation’s Common Stock
is listed on a Stock Exchange, the Board may not amend the Plan in a manner requiring approval of the shareholders of the Corporation under the rules of the Stock Exchange without obtaining the approval of the shareholders. 

(c) No amendment, modification, or termination of the Plan or an outstanding Agreement shall in any manner adversely affect any then
outstanding Award under the Plan without the consent of the Participant holding such Award, except as set forth in any Agreement relating to the Award, or to bring the Plan and/or an Award into compliance with the requirements of Code
Section 409A or to qualify for an exemption under Code Section 409A. 
 10.7 Code Section 409A. It
is intended that Awards granted under the Plan shall be exempt from or in compliance with Code Section 409A. The Board reserves the right to amend the terms of the Plan and the Committee reserves the right to amend any outstanding Agreement if
necessary either to exempt such Award from Code Section 409A or comply with the requirements of Code Section 409A, as applicable. Further, Plan Participants who are “Specified Employees” (as defined under Code Section 409A
and IRS guidance issued thereunder), shall be required to delay payment of an Award for six (6) months after separation from service to the extent such Award is governed by Code Section 409A and the delay is required thereunder.

 10.8 Effect on Employment or Services. Neither the adoption of the Plan nor the granting of any Award pursuant
to the Plan shall be deemed to create any right in any individual to be retained or continued in the employment or services of the Corporation, the Parent or a Subsidiary. 

  
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 10.9 Use of Proceeds. The proceeds received from the sale of Common Stock
pursuant to the Plan shall be used for general corporate purposes of the Corporation. 
 10.10 Severability. If
any one or more of the provisions (or any part thereof) of this Plan or of any Agreement issued hereunder, shall be held to be invalid, illegal or unenforceable in any respect, such provision shall be modified so as to make it valid, legal and
enforceable, and the validity, legality and enforceability of the remaining provisions (or any part thereof) of the Plan or of any Agreement shall not in any way be affected or impaired thereby. The Board may, without the consent of any Participant,
and in a manner determined necessary solely in the discretion of the Board, amend the Plan and any outstanding Agreement as the Corporation deems necessary to ensure the Plan and all Awards remain valid, legal or enforceable in all respects.

 10.11 Beneficiary Designation. Subject to local laws and procedures, each Participant may file a written
beneficiary designation with the Corporation stating who is to receive any benefit under the Plan to which the Participant is entitled in the event of such Participant’s death before receipt of any or all of a Plan benefit. Each designation
shall revoke all prior designations by the same Participant, be in a form prescribed by the Corporation, and become effective only when filed by the Participant in writing with the Corporation during the Participant’s lifetime. If a Participant
dies without an effective beneficiary designation for a beneficiary who is living at the time of the Participant’s death, the Corporation shall pay any remaining unpaid benefits to the Participant’s legal representative. 

10.12 Unfunded Obligation. A Participant shall have the status of a general unsecured creditor of the Corporation. Any
amounts payable to a Participant pursuant to the Plan shall be unfunded and unsecured obligations for all purposes. The Corporation shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any
special accounts with respect to such obligations. The Corporation shall retain at all times beneficial ownership of any investments, including trust investments, which the Corporation may make to fulfill its payment obligations hereunder. Any
investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Committee or the Corporation and a Participant, or otherwise create any Vested or
beneficial interest in any Participant or the Participant’s creditors in any assets of the Corporation. A Participant shall have no claim against the Corporation for any changes in the value of any assets which may be invested or reinvested by
the Corporation with respect to the Plan. 
 10.13 Approval of Plan. The Plan shall be subject to the approval of
the holder(s) of at least a majority of the votes cast on a proposal to approve the Plan at a duly held meeting of shareholders of the Corporation held within twelve (12) months after adoption of the Plan by the Board or, in lieu of such a
meeting, by written consent of the holders of at least a majority of the shares outstanding and entitled to give consent. No Award granted under the Plan may be exercised or paid in whole or in part unless the Plan has been approved by the
shareholders as provided herein. If not approved by shareholders within twelve (12) months after approval by the Board, the Plan and any Awards granted under the Plan shall be null and void, with no further force or effect. 

  
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 10.14 Governing Law. Except to the extent governed by applicable federal law,
the validity, interpretation, construction and performance of the Plan and Agreements under the Plan, shall be governed by the laws of the State of Michigan, without regard to its conflict of law rules. 

IN WITNESS WHEREOF, this Covisint Corporation 2009 Long Term Incentive Plan has been executed on behalf of the Corporation on this
24th day of August, 2009. 
  

			
	COVISINT CORPORATION
		
	By:	 	 /s/ David McGuffie

		 	David McGuffie
	Its:	 	President

 BOARD APPROVAL: 08/24/09 
 SHAREHOLDER APPROVAL: 08/24/09 

  
 22

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