Document:

Form of Subordinated Medium-Term Floating Rate Note, Series H

 Exhibit 4.4 
 [Series H MTNs] 
 [Face of Note] 
  

			
	 CUSIP NO.
	 	PRINCIPAL AMOUNT:
	 CLEARSTREAM COMMON CODE:
	 	
	 ISIN:
	 	
	 REGISTERED NO.
	 	

 WELLS FARGO & COMPANY 
 FORM OF 
 SUBORDINATED MEDIUM-TERM FLOATING RATE NOTE, SERIES H 

Due Nine Months or More From Date of Issue 
  

	 ̈	Check this box if this Security is a Global Security. 

 Applicable if this Security is a Global Security: 
 [Unless this certificate is presented by an authorized representative of The
Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as
requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.] 
 This Security is not a
deposit or other obligation of a depository institution and is not insured by the Federal Deposit Insurance Corporation, the Bank Insurance Fund or any other governmental agency. 
 [If applicable, this Security will contain information required by U.S. Federal Income Tax “Original Issue Discount” rules, as that term is
defined in the Internal Revenue Code of 1986, as amended.] 

					
			
	ORIGINAL ISSUE DATE:	 	ISSUE PRICE: %	 	STATED MATURITY DATE:
			
	BASE RATE:	 	INITIAL INTEREST RATE:	 	INITIAL INTEREST PAYMENT
DATE:
			
	INTEREST PAYMENT DATES:	 	INTEREST DETERMINATION DATES:	 	CALCULATION DATES:
			
	MAXIMUM INTEREST RATE:	 	MINIMUM INTEREST RATE:	 	INTEREST RESET PERIOD:
			
	INTEREST RESET DATES:	 	INITIAL INTEREST RESET DATE:	 	SPREAD MULTIPLIER:
			
	SPREAD:   +
                    -	 	INDEX MATURITY:	 	REGULAR RECORD DATES:
			
	DESIGNATED CMT MATURITY
INDEX AND DESIGNATED
TELERATE PAGE	 	DESIGNATED LIBOR PAGE
(Only applicable if the Base Rate is
    LIBOR):	 	INDEX CURRENCY
(Only applicable if the Base Rate is
    LIBOR):
	(Only applicable if the Base Rate
    is CMT):	 	 ̈        LIBOR Telerate (p.
    )
 ̈        LIBOR Reuters
(p.     )	 	
			
	CALCULATION AGENT:	 	OPTIONAL REDEMPTION
(at option of Company):	 	REDEMPTION PRICE:
 ̈        100%
 ̈        Other
			
	REDEMPTION DATE(S)
(at option of Company):	 	SINKING FUND:	 	OPTION TO ELECT REPAYMENT:
			
	REPAYMENT PRICE:
 ̈        100%
 ̈        Other	 	OPTIONAL REPAYMENT DATE(S):	 	MINIMUM DENOMINATIONS:
 ̈        U.S. $5,000
 ̈        Other
			
	DEPOSITARY
(Only applicable if this Security is a
    Global Security):	 	SPECIFIED CURRENCY:	 	OTHER/ADDITIONAL TERMS:

 ADDENDUM ATTACHED: 
 WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the “Company”, which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay to
                                , or registered assigns, the principal sum of
                                
(                    ) on the Stated Maturity Date shown above (except to the extent redeemed or repaid prior to such date) and to pay
interest, if any, on the Interest Payment Dates specified above, commencing with the Initial Interest 

  

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Payment Date specified above following the Original Issue Date specified above, and at Maturity, on the principal amount hereof, at a rate per annum equal to
the Initial Interest Rate specified above until the Initial Interest Reset Date specified above following the Original Issue Date specified above and thereafter at the rate per annum specified above, as determined by the Calculation Agent in
accordance with the provisions on the reverse hereof under the heading “Determination of CD Rate”, “Determination of Commercial Paper Rate”, “Determination of EURIBOR”, “Determination of Federal Funds Rate”,
“Determination of Federal Funds (Open) Rate”, “Determination of LIBOR”, “Determination of Prime Rate”, “Determination of Treasury Rate” or “Determination of CMT Rate,” as applicable. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on
the Regular Record Date next preceding such Interest Payment Date. Interest payable upon Maturity will be paid to the Person to whom principal is payable. The Regular Record Date for an Interest Payment Date shall be the fifteenth calendar day,
whether or not a Business Day, prior to such Interest Payment Date. 
 If an Interest Payment Date falls on a day that is not a Business Day,
other than an Interest Payment Date that is also the date of Maturity, such Interest Payment Date will be postponed to the following day that is a Business Day, except that, if the Base Rate specified above is LIBOR or EURIBOR and such following
Business Day is in the next calendar month, such Interest Payment Date shall be the immediately preceding day that is a Business Day. If the date of Maturity would fall on a day that is not a Business Day, the payment of principal and any premium
and interest shall be made on the next Business Day, with the same force and effect as if made on the due date, and no additional interest shall accrue on the amount so payable for the period from and after such date of Maturity. For purposes of
this Security, “Business Day” means a day other than a Saturday or Sunday (i) that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation to close (a) in New York, New
York or Minneapolis, Minnesota, (b) if this Security is denominated in a Specified Currency other than U.S. dollars, euro or Australian dollars, in the principal financial center of the country of the Specified Currency or (c) if this
Security is denominated in Australian dollars, in Sydney, Australia and (ii) if this Security is denominated in euro, that is also a TARGET Settlement Day. For purposes of this Security, “TARGET Settlement Day” means any day on which
the Trans-European Automated Real-time Gross Settlement Express Transfer System is open. 
 Interest payments on this Security shall be the
amount of interest accrued from and including the Original Issue Date specified above or from and including the last date to which interest has been paid, or provided for, as the case may be, to but excluding, the following Interest Payment Date or
the date of Maturity. This period is referred to as an “Interest Period.” If this Security has been issued upon transfer of, in exchange for, or in replacement of, a Predecessor Security, interest on this Security shall accrue from the
last Interest Payment Date to which interest was paid on such Predecessor Security or, if no interest was paid on such Predecessor Security, from the Original Issue Date specified above. The first payment of interest on a Security originally issued
and dated between a Regular Record Date specified above and an Interest Payment Date will be due and payable on the Interest Payment Date following the next succeeding Regular Record Date to the registered owner on such next succeeding Regular
Record Date. 
  

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 Notwithstanding the foregoing, if an Addendum is attached hereto or “Other/Additional Terms”
apply to this Security as specified above, this Security shall be subject to the terms set forth in such Addendum or such “Other/Additional Terms.” 
 The principal (and premium, if any) and interest on this Security is payable by the Company in the Specified Currency specified above. 
 Any interest not punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (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 to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10
days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required
by such exchange, all as more fully provided in the Indenture. 
 Payment of interest on this Security other than payments of interest at
Maturity will be paid by check mailed to the Person entitled thereto at such Person’s last address as it appears in the Security Register or by wire transfer to such account as may have been designated by such Person. Payment of principal of
and interest on this Security at Maturity will be made against presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota. Notwithstanding the foregoing, for so long as this
Security is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made to the Depositary by wire transfer of immediately available funds. 
 The Company will pay any administrative costs imposed by banks on payors in making payments on this Security in immediately available funds and the
Holder of this Security shall pay any administrative costs imposed by banks on payees in connection with such payments. Any tax, assessment or governmental charge imposed upon payments on this Security will be borne by the Holder of this Security.

 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit 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.

  

									
	 DATED:
	 	  
	 		  		 	
				
		 		 		  	WELLS FARGO & COMPANY
					
		 		 		  	By:	 	  

					
		 		 		  	Its:	 	  

	 [SEAL]
	 		 		  		 	
					
		 		 		  	Attest:	 	  

					
		 		 		  	Its:	 	  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the 
 series designated therein referred to 
 in the within-mentioned Indenture. 
 THE BANK OF NEW YORK TRUST COMPANY,
N.A., 
     as Trustee 
  

			
	By:	 	  

		 	Authorized Signature
		
		 	OR
	
	WELLS FARGO BANK, N.A.,
	    as Authenticating Agent for the Trustee
		
	By:	 	  

		 	Authorized Signature

  

 5 

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 SUBORDINATED MEDIUM-TERM FLOATING RATE NOTE, SERIES H

 Due Nine Months or More From Date of Issue 
 General 
 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an indenture dated as of August 30, 1999, as amended or supplemented from time to time (herein called the “Indenture”), between the Company and The Bank of
New York Trust Company, N.A. (successor in interest to The First National Bank of Chicago), as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which 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 Securities, and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one of the series of the Securities designated as Subordinated Medium-Term Notes, Series H, of the Company, which series is limited to an aggregate principal amount of
$25,000,000,000 or the equivalent thereof in one or more foreign or composite currencies minus the aggregate principal amount of the Company’s Medium-Term Notes, Series G which may be issued from time to time. The Securities of this series may
mature at different times, bear interest, if any, at different rates, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all, be issued at an original issue discount and be
denominated in different currencies. 
 The Securities are issuable only in registered form without coupons and will be either
(a) book-entry securities represented by one or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities issued to and registered in the names of, the beneficial owners or their
nominees. 
 The indebtedness evidenced by this Security is, to the extent and in the manner set forth in the Indenture, subordinate and
subject in right of payment to the prior payment in full of the principal of and premium, if any, and interest on all Senior Debt of the Company, and the Holder of this Security, by accepting the same, agrees to and shall be bound by the provisions
of the Indenture with respect thereto. 
 Interest Rate Reset 
 The interest rate in effect from the Original Issue Date to the Initial Interest Reset Date specified on the face hereof shall be the Initial Interest Rate specified on the face hereof. Commencing with the Initial
Interest Reset Date specified on the face hereof following the Original Issue Date specified on the face hereof, the interest rate on this Security will be reset daily, weekly, monthly, quarterly, semiannually or annually as specified on the face
hereof under “Interest Reset Period”. Each such adjusted rate shall be applicable from and including the Interest Reset Date to which it relates to but not including the next succeeding Interest Reset 

  

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Date or until Maturity, as the case may be. On each Interest Reset Date, the rate of interest on this Security shall be the rate determined with respect to
the Interest Determination Date next preceding such Interest Reset Date in accordance with the provisions of the applicable heading below and adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof, and/or by the
multiplication by the Spread Multiplier, if any, specified on the face hereof. 
 If any Interest Reset Date would otherwise be a day that is
not a Business Day, such Interest Reset Date will be postponed to the following Business Day, except that if the Base Rate specified above is LIBOR or EURIBOR and if such following Business Day is in the next calendar month, such Interest Reset Date
shall be the immediately preceding Business Day. 
 The amount of interest to be paid on this Security for each Interest Period will be
calculated by multiplying the principal amount of this Security by an accrued interest factor. The “accrued interest factor” will be computed by adding the interest factors calculated for each day in the Interest Period. The “interest
factor” for each day is computed by dividing the interest rate applicable to that day: 
  

	 	•	 	by 360, if the Base Rate is the CD Rate, the Commercial Paper Rate, EURIBOR, Federal Funds Rate, Federal Funds (Open) Rate, LIBOR, except for LIBOR Securities for which the Index
Currency is pounds sterling, or Prime Rate; 

  

	 	•	 	by 365 (or 366 if the last day of the Interest Period falls in a leap year) if the Base Rate is LIBOR and the Index Currency is pounds sterling; or 

  

	 	•	 	by the actual number of days in the year, if the Base Rate is the Treasury Rate or the CMT Rate. 

 Unless otherwise specified on the face hereof, all percentages resulting from any calculation referred to herein shall be rounded, if necessary, to the
nearest one hundred-thousandth of a percentage point, with .000005% rounded up to .00001% and all U.S. dollar amounts used in or resulting from any of the above calculations will be rounded, if necessary, to the nearest cent, with one-half cent
rounded upward. If the Japanese Yen is the Index Currency, all Japanese Yen amounts used in or resulting from these calculations will be rounded downward to the next lower Japanese Yen amount. All amounts denominated in any other currency used in or
resulting from these calculations will be rounded to the nearest two decimal places in that currency, with .005 round up to.01. 
 Notwithstanding the foregoing, the interest rate per annum hereon shall not be greater than the Maximum Interest Rate, if any, or less than the Minimum Interest Rate, if any, specified on the face hereof. The Calculation Agent shall
calculate the interest rate hereon in accordance with the foregoing on or before each Calculation Date. 
 The interest rate on this Security
shall in no event be higher than the maximum rate permitted by New York law, as the same may be modified by United States law of general application. 
  

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 At the request of the Holder hereof, the Calculation Agent shall provide to the Holder hereof the
interest rate hereon then in effect and, if determined, the interest rate that will become effective on the next Interest Reset Date with respect to this Security. The Calculation Agent’s determination of any interest rate shall be final and
binding in the absence of manifest error. The Calculation Agent shall notify the Paying Agent of each determination of the interest applicable to this Security promptly after the determination is made. 
 A “Calculation Date”, where applicable, for any Interest Determination Date will be the earlier of: 
  

	 	•	 	the tenth calendar day after that Interest Determination Date or, if that day is not a Business Day, the next Business Day; or 

  

	 	•	 	the Business Day immediately preceding the applicable Interest Payment Date or date of Maturity. 

 Determination of CD Rate 
 If the Base Rate specified on the face hereof is the CD Rate, the interest
rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date for negotiable U.S. dollar certificates of deposit having the Index Maturity specified on the face hereof as
published by the Board of Governors of the Federal Reserve System in “Statistical Release H.15(519), Selected Interest Rates,” or any successor publication of the Board of Governors of the Federal Reserve System
(“H.15(519)”) under the heading “CDs (Secondary Market).” 
 The following procedures will be followed if the CD Rate
cannot be determined as described above: 
  

	 	•	 	If the above rate is not published in H.15(519) by 3:00 p.m., New York City time, on the Calculation Date, the CD Rate will be the rate on that Interest Determination Date set
forth in the daily update of H.15(519), available through the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov/releases/h15/update, or any successor site or publication (the “H.15 Daily
Update”) for the Interest Determination Date for certificates of deposit having the Index Maturity specified on the face hereof, under the caption “CDs (Secondary Market).” 

  

	 	•	 	If the above rate is not yet published in either H.15(519) or the H.15 Daily Update by 3:00 p.m., New York City time, on the Calculation Date, the Calculation Agent will
determine the CD Rate to be the arithmetic mean of the secondary market offered rates as of 10:00 a.m., New York City time, on that Interest Determination Date of three leading nonbank dealers in negotiable U.S. dollar certificates of deposit
in New York, New York which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation with the Company, for negotiable U.S. dollar certificates of deposit of major U.S. money
center banks of the highest credit standing in the market for negotiable certificates of deposit with a remaining maturity closest to the Index Maturity specified on the face hereof in an amount that is representative for a single transaction in
that market at that time. 

  

 8 

	 	•	 	If the dealers selected by the Calculation Agent are not quoting as set forth above, the CD Rate for that Interest Determination Date will remain the CD Rate for the immediately
preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of Commercial
Paper Rate 
 If the Base Rate specified on the face hereof is the Commercial Paper Rate, the interest rate per annum determined with
respect to any Interest Determination Date specified on the face hereof shall equal the Money Market Yield (as defined below), calculated as described below, of the rate on that date for U.S. dollar commercial paper having the Index Maturity
specified on the face hereof, as that rate is published in H.15(519), under the heading “Commercial Paper—Nonfinancial.” 
 The following procedures will be followed if the Commercial Paper Rate cannot be determined as described above: 
  

	 	•	 	If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, then the Commercial Paper Rate will be the Money Market Yield of the rate on that
Interest Determination Date for commercial paper of the Index Maturity specified on the face hereof as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the
heading “Commercial Paper—Nonfinancial.” 

  

	 	•	 	If by 3:00 p.m., New York City time, on that Calculation Date the rate is not yet published in either H.15(519) or the H.15 Daily Update, or other recognized electronic source used
for the purpose of displaying the applicable rate, then the Calculation Agent will determine the Commercial Paper Rate to be the Money Market Yield of the arithmetic mean of the offered rates as of 11:00 a.m., New York City time, on that
Interest Determination Date of three leading dealers of U.S. dollar commercial paper in New York, New York, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation
with the Company, for commercial paper of the Index Maturity specified on the face hereof, placed for an industrial issuer whose bond rating is “Aa,” or the equivalent, from a nationally recognized statistical rating agency.

  

	 	•	 	If the dealers selected by the Calculation Agent are not quoting as set forth above, the Commercial Paper Rate for the Interest Determination Date will remain the Commercial Paper
Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

  

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 “Money Market Yield” will be a yield calculated in accordance with the following formula:

  

					
	Money Market Yield =	 	D x 360  
	 	x 100
	 	360 – (D x M)	 

 where “D” refers to the applicable per year rate for commercial paper quoted on a bank discount basis
and expressed as a decimal and “M” refers to the actual number of days in the Interest Period for which interest is being calculated. 
 Determination of EURIBOR 
 If the Base Rate specified on the face hereof is EURIBOR, the interest rate per annum determined
with respect to any Interest Determination Date specified on the face hereof shall equal the rate for deposits in euros as sponsored, calculated and published jointly by the European Banking Federation and ACI — The Financial Market
Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, for the Index Maturity specified on the face hereof as that rate appears on the display on Moneyline Telerate, or any successor
service, on page 248 or any other page as may replace page 248 on that service, which is referred to as “Telerate Page 248,” as of 11:00 a.m., Brussels time. 
 The following procedures will be followed if the EURIBOR Rate cannot be determined as described above: 
  

	 	•	 	If the above rate does not appear, the Calculation Agent will request the principal Euro-zone office of each of four major banks in the Euro-zone interbank market, as selected by
the Calculation Agent, after consultation with the Company, to provide the Calculation Agent with its offered rate for deposits in euros, at approximately 11:00 a.m., Brussels time, on the Interest Determination Date, to prime banks in the Euro-zone
interbank market for the Index Maturity specified on the face hereof commencing on the applicable Interest Reset Date, and in a principal amount not less than the equivalent of U.S. $1 million in euro that is representative of a single transaction
in euro, in that market at that time. If at least two quotations are provided, EURIBOR will be the arithmetic mean of those quotations. 

  

	 	•	 	If fewer than two quotations are provided, EURIBOR will be the arithmetic mean of the rates quoted by four major banks in the Euro-zone interbank market, as selected by the
Calculation Agent, after consultation with the Company, at approximately 11:00 a.m., Brussels time, on the applicable Interest Reset Date for loans in euro to leading European banks for a period of time equivalent to the Index Maturity
specified on the face hereof commencing on that Interest Reset Date in a principal amount not less than the equivalent of U.S. $1 million in euro. 

  

	 	•	 	If the banks so selected by the Calculation Agent are not quoting as set forth above, EURIBOR for that Interest Determination Date will remain EURIBOR for the immediately preceding
Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

  

 10 

 “Euro-zone” means the region comprising member states of the European Union that have adopted
the single currency in accordance with the relevant treaty of the European Union, as amended. 
 Determination of Federal Funds Rate

 If the Base Rate specified on the face hereof is the Federal Funds Rate, the interest rate per annum determined with respect to any
Interest Determination Date specified on the face hereof shall equal the rate on that date for U.S. dollar federal funds as published in H.15(519) under the heading “Federal Funds (Effective)” as displayed on Moneyline Telerate, or any
successor service, on page 120 or any other page as may replace the applicable page on that service (“Telerate Page 120”). 
 The following procedures will be followed if the Federal Funds Rate cannot be determined as described above: 
  

	 	•	 	If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, the Federal Funds Rate will be the rate on that Interest Determination Date as
published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the heading “Federal Funds (Effective).” 

  

	 	•	 	If the above rate is not yet published in either H.15(519) or H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, by
3:00 p.m., New York City time, on the Calculation Date, the Calculation Agent will determine the Federal Funds Rate to be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar federal funds prior to 9:00 a.m.,
New York City time, on that Interest Determination Date, by each of three leading brokers of U.S. dollar federal funds transactions in New York, New York, which may include the agents for the Securities of this series or their affiliates, selected
by the Calculation Agent, after consultation with the Company. 

  

	 	•	 	If the brokers selected by the Calculation Agent are not quoting as set forth above, the Federal Funds Rate for that Interest Determination Date will remain the Federal Funds Rate
for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of Federal Funds (Open) Rate 
 If the Base Rate specified on the face hereof is the Federal Funds (Open) Rate,
the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date for U.S. dollar federal funds as published in H.15(519) under the heading “Federal Funds
(Open)” as displayed on Moneyline Telerate, or any successor service, on page 5 or any other page as may replace the applicable page on that service (“Telerate Page 5”). 
  

 11 

 The following procedures will be followed if the Federal Funds (Open) Rate cannot be determined as
described above: 
  

	 	•	 	If the above rate is not published by 3:00 p.m., New York City time, on the Calculation Date, the Federal Funds (Open) Rate will be the rate on that Interest Determination Date as
published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the heading “Federal Funds (Open).” 

  

	 	•	 	If the above rate is not yet published in either H.15(519) or the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, by
3:00 p.m., New York City time, on the Calculation Date, the Calculation Agent will determine the Federal Funds (Open) Rate to be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar federal funds (based on the Federal
Funds (Open) Rate) prior to 9:00 a.m., New York City time, on that Interest Determination Date, by each of three leading brokers of U.S. dollar federal funds transactions in New York, New York, which may include the agents for the Securities of this
series or their affiliates, selected by the Calculation Agent, after consultation with the Company. 

  

	 	•	 	If the brokers selected by the Calculation Agent are not quoting as set forth above, the Federal Funds (Open) Rate for that Interest Determination Date will remain the Federal Funds
(Open) Rate for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 Determination of LIBOR 
 If the Base Rate specified on the face hereof is LIBOR, the interest rate per annum shall be
determined by the Calculation Agent for each Interest Determination Date specified on the face hereof as follows: 
 As of the Interest
Determination Date, LIBOR will be either LIBOR Reuters or LIBOR Telerate: 
  

	 	•	 	if “LIBOR Reuters” is specified on the face hereof, the arithmetic mean of the offered rates for deposits in the Index Currency having the Index Maturity designated on the
face hereof, commencing on the second London Banking Day, as defined below, immediately following that Interest Determination Date, or, if pounds sterling is the Index Currency, commencing on that Interest Determination Date, that appear on the
Designated LIBOR Page as of 11:00 a.m., London time, on that Interest Determination Date, if at least two offered rates appear on the Designated LIBOR Page; except that if the specified Designated LIBOR Page by its terms provides only for a single
rate, that single rate will be used; or 

  

	 	•	 	 if “LIBOR Telerate” is specified on the face hereof, the rate for deposits in the Index Currency having the Index Maturity designated on the face hereof,
commencing on the second London Banking Day immediately following that Interest Determination Date or, if pounds sterling is the Index Currency, commencing on that 

  

 12 

	 	 
Interest Determination Date, that appears on the Designated LIBOR Page at approximately 11:00 a.m., London time, on that Interest Determination Date.

  

	 	•	 	If (i) fewer than two offered rates appear and “LIBOR Reuters” is specified on the face hereof, or (ii) no rate appears and either (a) “LIBOR
Telerate” is specified on the face hereof or (b) “LIBOR Reuters” is specified on the face hereof and the Designated LIBOR Page by its terms provides only for a single rate, then the Calculation Agent will request the principal
London offices of each of four major banks in the London interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in the Index Currency for the period of the Index Maturity
specified on the face hereof commencing on the second London Banking Day immediately following the Interest Determination Date or, if pounds sterling is the Index Currency, commencing on that Interest Determination Date, to prime banks in the London
interbank market at approximately 11:00 a.m., London time, on that Interest Determination Date and in a principal amount that is representative of a single transaction in that Index Currency in that market at that time. 

  

	 	•	 	If at least two quotations are provided, LIBOR determined on that Interest Determination Date will be the arithmetic mean of those quotations. If fewer than two quotations are
provided, LIBOR will be determined for the applicable Interest Reset Date as the arithmetic mean of the rates quoted at approximately 11:00 a.m., or some other time specified on the face hereof, in the applicable principal financial center for the
country of the Index Currency on that Interest Reset Date, by three major banks in that principal financial center selected by the Calculation Agent for loans in the Index Currency to leading European banks, having the Index Maturity specified on
the face hereof and in a principal amount that is representative of a single transaction in that Index Currency in that market at that time. 

  

	 	•	 	If the banks so selected by the Calculation Agent are not quoting as set forth above, LIBOR for that Interest Determination Date will remain LIBOR for the immediately preceding
Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 The “Index
Currency” means the currency specified on the face hereof as the currency for which LIBOR will be calculated or, if the euro is substituted for that currency, the Index Currency will be the euro. If no currency is specified on the face hereof,
the Index Currency will be U.S. dollars. 
 “Designated LIBOR Page” means either (i) if “LIBOR Reuters” is
designated on the face hereof, the display on the Reuters Money 3000 Service for the purpose of displaying the London interbank rates of major banks for the applicable Index Currency or its designated successor, or (ii) if “LIBOR
Telerate” is designated on the face hereof, the display on Moneyline Telerate, or any successor service, on the page specified on the face hereof, or any other page as may replace that page on that service, for the purpose of displaying the
London interbank rates of major banks for the applicable Index Currency. 
  

 13 

 “Euro LIBOR Securities” means LIBOR debt securities for which the Index Currency is euros.

 “London Banking Day” means any day on which dealings in deposits in the Index Currency specified above are transacted in the
London interbank market. 
 Determination of Prime Rate 
 If the Base Rate specified on the face hereof is the Prime Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate on that date as
published in H.15(519) under the heading “Bank Prime Loan.” 
 The following procedures will be followed if the Prime Rate cannot
be determined as described above: 
  

	 	•	 	If the above rate is not published prior to 3:00 p.m., New York City time, on the Calculation Date, then the Prime Rate will be the rate on that Interest Determination Date as
published in the H.15 Daily Update under the heading “Bank Prime Loan.” 

  

	 	•	 	If the rate is not published in either H.15(519) or the H.15 Daily Update by 3:00 p.m., New York City time, on the Calculation Date, then the Calculation Agent will determine the
Prime Rate to be the arithmetic mean of the rates of interest publicly announced by each bank that appears on the Reuters Screen USPRIME 1 Page, as defined below, as that bank’s prime rate or base lending rate as in effect for that Interest
Determination Date. 

  

	 	•	 	If fewer than four rates for that Interest Determination Date appear on the Reuters Screen USPRIME 1 Page by 3:00 p.m., New York City time, on the Calculation Date, the Calculation
Agent will determine the Prime Rate to be the arithmetic mean of the prime rates quoted on the basis of the actual number of days in the year divided by 360 as of the close of business on that Interest Determination Date by at least three major
banks in New York, New York, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, after consultation with the Company. 

  

	 	•	 	If the banks selected by the Calculation Agent are not quoting as set forth above, the Prime Rate for that Interest Determination Date will remain the Prime Rate for the immediately
preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 “Reuters
Screen USPRIME 1 Page” means the display designated as page “USPRIME 1” on the Reuters Money 3000 Service, or any successor service, or any other page as may replace the USPRIME 1 Page on that service for the purpose of displaying
prime rates or base lending rates of major U.S. banks. 
  

 14 

 Determination of Treasury Rate 
 If the Base Rate specified on the face hereof is the Treasury Rate, the interest rate per annum determined with respect to any Interest Determination Date
specified on the face hereof means: 
  

	 	•	 	the rate from the auction held on the applicable Interest Determination Date, referred to as the “auction,” of direct obligations of the United States, which are commonly
referred to as “Treasury Bills,” having the Index Maturity specified on the face hereof as that rate appears under the caption “INVESTMENT RATE” on the display on Moneyline Telerate, or any successor service, on page 56 or any
other page as may replace page 56 on that service, referred to as “Telerate Page 56,” or page 57 or any other page as may replace page 57 on that service, referred to as “Telerate Page 57”; or 

  

	 	•	 	if the rate described in the first bullet point is not published by 3:00 p.m., New York City time, on the Calculation Date, the bond equivalent yield of the rate for the applicable
Treasury Bills as published in the H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “U.S. Government Securities/Treasury Bills/Auction High”; or

  

	 	•	 	if the rate described in the second bullet point is not published by 3:00 p.m., New York City time, on the related Calculation Date, the bond equivalent yield of the auction rate of
the applicable Treasury Bills, announced by the United States Department of the Treasury; or 

  

	 	•	 	if the rate referred to in the third bullet point is not announced by the United States Department of the Treasury, or if the auction is not held, the bond equivalent yield of the
rate on the applicable Interest Determination Date of Treasury Bills having the Index Maturity specified on the face hereof published in H.15(519) under the caption “U.S. Government Securities/Treasury Bills/Secondary Market”; or

  

	 	•	 	if the rate referred to in the fourth bullet point is not so published by 3:00 p.m., New York City time, on the related Calculation Date, the rate on the applicable Interest
Determination Date of the applicable Treasury Bills as published in H.15 Daily Update, or other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “U.S. Government Securities/Treasury
Bills/Secondary Market”; or 

  

	 	•	 	if the rate referred to in the fifth bullet point is not so published by 3:00 p.m., New York City time, on the related Calculation Date, the rate on the applicable Interest
Determination Date calculated by the Calculation Agent as the bond equivalent yield of the arithmetic mean of the secondary market bid rates, as of approximately 3:30 p.m., New York City time, on the applicable Interest Determination Date, of three
primary U.S. government securities dealers, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent, for the issue of Treasury Bills with a remaining maturity closest to the Index
Maturity specified on the face hereof; or 

  

 15 

	 	•	 	if the dealers selected by the Calculation Agent are not quoting as set forth above, the Treasury Rate for that Interest Determination Date will remain the Treasury Rate for the
immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

 The “bond equivalent yield” means a yield calculated in accordance with the following formula and expressed as a percentage: 
  

					
	bond equivalent yield =	 	D x N  
	 	x 100
	 	360 – (D x M)	 

 where “D” refers to the applicable per annum rate for Treasury Bills quoted on a bank discount basis,
“N” refers to 365 or 366, as the case may be, and “M” refers to the actual number of days in the Interest Period for which interest is being calculated. 
 Determination of CMT Rate 
 If the
Base Rate specified on the face hereof is the CMT Rate, the interest rate per annum determined with respect to any Interest Determination Date specified on the face hereof shall equal the rate displayed on the Designated CMT Telerate Page, as
defined below, under the caption “. . . Treasury Constant Maturities . . . Federal Reserve Board Release H.15 . . . Mondays Approximately 3:45 p.m.,” under the column for the Designated CMT Maturity Index, as defined below, for:

 (i) the rate on that Interest Determination Date, if the Designated CMT Telerate Page is 7051, and 
 (ii) the week or the month, as applicable, ended immediately preceding the week in which the related Interest Determination Date occurs,
if the Designated CMT Telerate Page is 7052. 
 The following procedures will be used if the CMT Rate cannot be determined as described
above: 
  

	 	•	 	If the above rate is no longer displayed on the relevant page, or if not displayed by 3:00 p.m., New York City time, on the related Calculation Date, then the CMT Rate will be
the Treasury Constant Maturity Rate for the Designated CMT Maturity Index as published in the relevant H.15(519). 

  

	 	•	 	 If the above rate described in the first bullet point is no longer published, or if not published by 3:00 p.m., New York City time, on the related Calculation
Date, then the CMT Rate will be the Treasury Constant Maturity Rate for the Designated CMT Maturity Index or other U.S. Treasury rate for the Designated CMT Maturity Index 

  

 16 

	 	 
on the Interest Determination Date as may then be published by either the Board of Governors of the Federal Reserve System or the United States Department of
the Treasury that the Calculation Agent determines to be comparable to the rate formerly displayed on the Designated CMT Telerate Page and published in the relevant H.15(519). 

  

	 	•	 	If the information described in the second bullet point is not provided by 3:00 p.m., New York City time, on the related Calculation Date, then the Calculation Agent will determine
the CMT Rate to be a yield to maturity, based on the arithmetic mean of the secondary market closing offer side prices as of approximately 3:30 p.m., New York City time, on the Interest Determination Date, reported, according to their written
records, by three leading primary U.S. government securities dealers (each a “reference dealer”) in New York, New York, which may include the agents for the Securities of this series or their affiliates, selected by the Calculation Agent
as described in the following sentence. The Calculation Agent will select five reference dealers, after consultation with the Company, and will eliminate the highest quotation or, in the event of equality, one of the highest, and the lowest
quotation or, in the event of equality, one of the lowest, for the most recently issued direct noncallable fixed rate obligations of the United States, which are commonly referred to as “Treasury notes,” with an original maturity of
approximately the Designated CMT Maturity Index, a remaining term to maturity of no more than 1 year shorter than the Designated CMT Maturity Index and in a principal amount that is representative for a single transaction in the securities in that
market at that time. If two Treasury notes with an original maturity as described above have remaining terms to maturity equally close to the Designated CMT Maturity Index, the quotes for the Treasury note with the shorter remaining term to maturity
will be used. 

  

	 	•	 	If the Calculation Agent cannot obtain three Treasury notes quotations as described in the immediately preceding bullet point, the Calculation Agent will determine the CMT Rate to
be a yield to maturity based on the arithmetic mean of the secondary market offer side prices as of approximately 3:30 p.m., New York City time, on the Interest Determination Date of three reference dealers in New York, New York, selected using
the same method described in the immediately preceding bullet point, for Treasury notes with an original maturity equal to the number of years closest to but not less than the Designated CMT Maturity Index and a remaining term to maturity closest to
the Designated CMT Maturity Index and in a principal amount that is representative for a single transaction in the securities in that market at that time. 

  

	 	•	 	If three or four, and not five, of the reference dealers are quoting as described above, the CMT Rate will be based on the arithmetic mean of the offer prices obtained and neither
the highest nor the lowest of those quotes will be eliminated. 

  

	 	•	 	If fewer than three reference dealers selected by the Calculation Agent are quoting as described above, the CMT Rate for that Interest Determination Date will remain the CMT Rate
for the immediately preceding Interest Reset Period, or, if none, the rate of interest payable will be the Initial Interest Rate. 

  

 17 

 “Designated CMT Telerate Page” means the display on Moneyline Telerate, or any successor
service, on the page designated on the face hereof or any other page as may replace that page on that service for the purpose of displaying Treasury Constant Maturities as reported in H.15(519). If no page is specified on the face hereof, the
Designated CMT Telerate Page will be 7052, for the most recent week. 
 “Designated CMT Maturity Index” means the original period
to maturity of the U.S. Treasury securities which is either 1, 2, 3, 5, 7, 10, 20 or 30 years, as specified on the face hereof, for which the CMT Rate will be calculated. If no maturity is specified on the face hereof, the Designated CMT Maturity
Index will be two years. 
 Events of Default 
 If an Event of Default, as defined in the Indenture, with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture. 
 Modification and Waivers 
 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 Securities of each
series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected, acting together as a
class. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of
the Holders of all Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority
in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security 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 Security. 
 Defeasance and Covenant Defeasance 
 The Indenture
contains provisions for defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein,
which provisions apply to this Security. 
 Redemption 
 If so provided on the face hereof, the Company may at its option redeem this Security in whole or in part in increments of $5,000 (provided that any remaining principal amount of this Security shall not be less than
the minimum authorized denomination hereof) on or after the date or dates designated as the Redemption Date(s) on the face hereof at 100% of the unpaid principal amount hereof or the portion thereof redeemed, together with accrued interest, if any,
to the 

  

 18 

 
Redemption Date or, if a Redemption Price other than 100% of the principal amount to be redeemed is specified on the face hereof, the Redemption Price
specified in the Addendum attached hereto. The Company may exercise such option by mailing a notice of such redemption to each Holder of the Securities of this series to be redeemed by first-class mail, postage prepaid, at least 30 days and not more
than 60 days prior to the applicable Redemption Date. In the event of redemption of this Security in part only, the Company shall issue a new Security or Securities for the unredeemed portion hereof in the name of the Holder hereof upon the
cancellation hereof. If less than all of the Securities of this series with like tenor and terms are to be redeemed, the Securities to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate and may
provide for the selection for redemption of a portion of the principal amount of the Securities of this series held by a Holder equal to an authorized denomination. If this Security is a Global Security and if less than all of the Securities of this
series are to be redeemed, the redemption shall be made in accordance with the Depositary’s customary procedures. Unless the Company defaults in the payment of the Redemption Price, on and after the applicable Redemption Date interest will
cease to accrue on this Security or portion hereof called for redemption. 
 Sinking Fund 
 Unless otherwise specified on the face hereof, this Security will not be entitled to any sinking fund. 
 Repayment 
 If so provided on the face hereof, this
Security will be repayable prior to the Stated Maturity Date at the option of the Holder, in whole or in part and in increments of $5,000 (provided that any remaining principal amount of this Security surrendered for partial repayment shall not be
less than the minimum authorized denomination hereof), on or after the date designated as an Optional Repayment Date on the face hereof at 100% of the principal amount to be repaid, plus accrued interest, if any, to the Repayment Date or, if a
Repayment Price other than 100% of the principal amount to be repaid is specified on the face hereof, at the Repayment Price specified in the Addendum attached hereto. In order for this Security to be repaid, the Paying Agent must receive at least
30 days but not more than 45 days prior to the Optional Repayment Date this Security with the form entitled “Option to Elect Repayment” on the reverse of this Security duly completed, or a telegram, telex, facsimile transmission or a
letter from a member of a national securities exchange, or the National Association of Securities Dealers, Inc. or a commercial bank or trust company in the United States setting forth: (a) the name of the Holder of this Security; (b) the
principal amount of this Security; (c) the principal amount of this Security to be repaid; (d) the certificate number or a description of the tenor and terms of this Security; (e) a statement that the option to elect repayment is
being exercised; and (f) a guarantee that this Security, together with the duly completed form entitled “Option to Elect Repayment,” will be received by the Paying Agent not later than the fifth Business Day after the date of the
telegram, telex, facsimile transmission or letter. However, the telegram, telex, facsimile transmission or letter will only be effective if this Security and form duly completed are received by the Paying Agent by the fifth Business Day after the
date of that telegram, telex, facsimile transmission or letter. 
 Any repayment option exercised by the Holder of this Security shall be
irrevocable. The repayment option may be exercised for less than the entire principal amount of this Security, but 

  

 19 

 
in that event the principal amount of this Security remaining outstanding after repayment must be equal to $5,000 or an integral multiple thereof. Upon any
partial repayment, this Security shall be cancelled and a new Security or Securities for the remaining principal amount hereof shall be issued in the name of the Holder of this Security. Unless the Company defaults in the payment of the Repayment
Price, on and after the applicable Repayment Date interest will cease to accrue on this Security or portion hereof requested to be repaid. 
 Authorized
Denominations 
 Unless otherwise provided on the face hereof, this Security is issuable only in registered form without coupons in
denominations of $5,000 or any amount in excess thereof which is an integral multiple of $5,000. 
 Registration of Transfer 
 Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of Minneapolis, Minnesota, a new
Security or Securities of this series in authorized denominations for an equal aggregate principal amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject to the limitations provided therein and to the
limitations described below, without charge except for any tax or other governmental charge imposed in connection therewith. 
 If this
Security is a Global Security (as specified above), this Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this
Security or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days after the Company receives such notice or
becomes aware of such ineligibility, (y) the Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee thereof or (z) an Event of Default with
respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in registered form, bearing interest at the same
rate, having the same date of issuance, redemption provisions, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 
 If this Security is a Global Security (as specified above), this Security 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 of the Depositary or a nominee of such successor. Except as provided above, owners of beneficial interests in this Global Security will not be entitled to
receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 
 Prior to due presentment of this Security 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 Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  

 20 

 Obligation of the Company Absolute 
 Subject to the rights of holders of Senior Debt of the Company set forth in this Security and the Indenture referred to above, no reference herein to the Indenture and no provision of this Security or 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 Security at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise
provided in this Security and except that in the event the Company deposits money or Eligible Instruments as provided in Articles 4 and 15 of the Indenture, such payments will be made only from proceeds of such money or Eligible Instruments.

 No Personal Recourse 
 No recourse
shall be had for the payment of the principal of or the interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any
incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 
 Defined Terms 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them
in the Indenture unless otherwise defined in this Security. 
 Governing Law 
 This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles of conflicts of laws.

  

 21 

 OPTION TO ELECT REPAYMENT 
 TO BE COMPLETED ONLY IF THIS SECURITY IS REPAYABLE 
 AT THE OPTION OF THE
HOLDER AND THE HOLDER 
 ELECTS TO EXERCISE SUCH RIGHT 
 The undersigned hereby irrevocably requests and instructs the Company to repay the within Security (or the portion thereof specified below), pursuant to
its terms, on the Optional Repayment Date first occurring after the date of receipt by the Company of the within Security, at the Repayment Price specified in the within Security, to the undersigned,
                                        
                    , at
                                        
                                     (please print or typewrite
name and address of the undersigned). 
 For this option to elect repayment to be effective, the Company must receive, at the address of the
Paying Agent set forth below or at such other place or places of which the Company shall from time to time notify the Holder of the within Security, either (i) this Security with this “Option to Elect Repayment” form duly completed,
or (ii) a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc. or a commercial bank or a trust company in the United States setting forth
(a) the name of the Holder of the Security, (b) the principal amount of the Security, (c) the principal amount of the Security to be repaid, (d) the certificate number or description of the tenor and terms of the Security,
(e) a statement that the option to elect repayment is being exercised, and (f) a guarantee stating that the Security to be repaid, together with this “Option to Elect Repayment” form duly completed will be received by the Paying
Agent not later than five Business Days after the date of such telegram, facsimile transmission or letter (and such Security and form duly completed are received by the Company by such fifth Business Day). The address of the Paying Agent is Wells
Fargo Bank, N.A., Sixth and Marquette, Minneapolis, Minnesota 55479. 
 If less than the entire principal amount of the within Security is to
be repaid, specify the portion thereof (which shall be an integral multiple of $5,000) which the Holder elects to have repaid: $            . 
  

 22 

 If less than the entire principal amount of the within Security is to be repaid, specify the denomination
or denominations (which shall be $5,000 or an integral multiple thereof) of the Security or Securities to be issued to the Holder for the portion of the within Securities not being repaid (in the absence of any specification, one such Security will
be issued for the portion not being repaid): $            . 
 Date:
                                      
                                        
                                        
                       
 Notice: The
signature to this Option to Elect Repayment must correspond with the name as written upon page 2 of the within Security in every particular without alteration or enlargement or any change whatsoever. 
  

 23 

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

					
	TEN COM	  	—  	  	as tenants in common
			
	TEN ENT	  	—  	  	as tenants by the entireties
			
	JT TEN	  	—  	  	 as joint tenants with right
 of survivorship and
not
 as tenants in common

  

							
	UNIF GIFT MIN ACT    —	 	  
	  	Custodian	  	  

		 	(Cust)	  		  	(Minor)

  

	
	Under Uniform Gifts to Minors Act
	
	  

	(State)

 Additional abbreviations may also be used though not in the above list. 
 FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 
 Please Insert Social Security or 
 Other Identifying Number of Assignee 
  

  

 

  

 (PLEASE PRINT OR TYPE NAME AND ADDRESS
INCLUDING POSTAL ZIP CODE OF ASSIGNEE) 
  

 24 

 the within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute and appoint
                         attorney to transfer the said Security on the books of the Company, with full power of
substitution in the premises. 
 Dated:
                         

					
			
		  		  	  

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within
instrument in every particular, without alteration or enlargement or any change whatever. 
  

 25First Amendment to the Sixth Amended and Restated Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 FIRST AMENDMENT TO 
 SIXTH AMENDED AND RESTATED CREDIT AGREEMENT 
 This FIRST AMENDMENT, dated as of
January 26, 2007 (this “Amendment Agreement”), is among WEIGHT WATCHERS INTERNATIONAL, INC., a Virginia corporation (the “Borrower”), the Lenders (such capitalized term, and other terms used in this Amendment
Agreement, to have the meanings set forth in Article I) party hereto and the Administrative Agent (as defined below). 
 W
I T N E S S E T H: 
 WHEREAS, pursuant to the terms of the Sixth Amended and
Restated Credit Agreement, dated as of May 8, 2006 (as further amended, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement”), among the Borrower, the Lenders, The Bank of Nova Scotia, as
administrative agent (in such capacity, the “Administrative Agent”) for the Lenders, and the other Agents, the Lenders have made, and are committed to make, Credit Extensions to the Borrower; 
 WHEREAS, that Borrower has announced its intention to make a public tender offer to acquire, and has entered into an agreement with an Affiliate to
acquire, a portion of the Borrower’s outstanding common stock, for an aggregate purchase price not to exceed $1,000,000,000; 
 WHEREAS,
in connection therewith, the Borrower intends to increase the principal amount of Term Loans that may be incurred by it under the terms of the Credit Agreement by $1,200,000,000 comprised of up to $700,000,000 Term A-1 Loans and up to
$500,000,000 Term B Loans; 
 WHEREAS, the Borrower has requested that the Lenders amend certain provisions of the Existing Credit Agreement
as herein provided; and 
 WHEREAS, the Lenders have agreed, subject to the terms and conditions set forth below, to amend the Existing
Credit Agreement as more specifically set forth herein (the Existing Credit Agreement, as amended by this Amendment Agreement, being referred to as the “Credit Agreement”); 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the parties hereto hereby agree as follows. 

 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1. Certain Definitions. The following terms (whether or not underscored) when
used in this Amendment Agreement shall have the following meanings (such meanings to be equally applicable to the singular and plural form thereof): 
 “Administrative Agent” is defined in the first recital. 
 “Amendment Agreement” is defined
in the preamble. 
 “Borrower” is defined in the preamble. 
 “Credit Agreement” is defined in the fifth recital. 
 “Existing Credit Agreement” is defined in the first recital. 
 “First Amendment Effective Date” is defined in Section 3.1. 
 SECTION 1.2. Other Definitions. Terms for which meanings are provided in the Credit Agreement are, unless otherwise defined herein
or the context otherwise requires, used in this Amendment Agreement with such meanings. 
 ARTICLE II 
 AMENDMENTS TO THE 
 EXISTING CREDIT AGREEMENT

 Effective on (and subject to the occurrence of) the First Amendment Effective Date, the provisions of the Existing Credit Agreement
referred to below are hereby amended in accordance with this Article. Except as expressly so amended, the Existing Credit Agreement shall continue in full force and effect in accordance with its terms. 
 SECTION 2.1. Amendment to Article I. Article I of the Existing Credit Agreement is hereby amended in accordance with Sections 2.1.1 through
2.1.2. 
 SECTION 2.1.1. Section 1.1 of the Existing Credit Agreement is amended by inserting the following definitions in the
appropriate alphabetical order: 
 “Affiliate Purchase” is defined in clause (b) of the
definition of “Self Tender and Affiliate Purchase”. 
 “AHS” means Artal Holdings Sp. z o.o., a
corporation organized and existing under the laws of Poland. 
 “Applicable Percentage” means, if on the last
day of the applicable Fiscal Year, the Net Debt to EBITDA Ratio is (i) greater than or equal to 4.50:1, 50%, (ii) less than 4.50:1 but greater than or equal to 3.50:1, 25%, and (iii) less than 3.50:1, 0%. 
  

 2 

 “Current Assets” means, on any date, without duplication, all assets
(other than cash) which, in accordance with GAAP, would be included as current assets on a consolidated balance sheet of the Borrower and its Subsidiaries at such date as current assets (excluding, however, amounts due and to become due from
Affiliates of the Borrower which have arisen from transactions which are other than arm’s-length and in the ordinary course of its business). 
 “Current Liabilities” means, on any date, without duplication, all amounts which, in accordance with GAAP, would be included as current liabilities on a consolidated balance sheet of the Borrower and
its Subsidiaries at such date, excluding current maturities of Indebtedness. 
 “Designated Additional Term A-1
Loans” is defined in Section 2.1.6(a). 
 “Designated Additional Term B Loans” is
defined in Section 2.1.6(a). 
 “Excess Cash Flow” means, for any Fiscal Year, the excess (if
any), of 
 (a) EBITDA for such Fiscal Year; 
 over 
 (b) the sum, without duplication for such Fiscal Year, of: 
 (i) Interest Expense; 
 plus 
 (ii) scheduled payments and optional and mandatory prepayments (other than such prepayments made under clauses (b) and (e) of Section 3.1.1), to the extent actually made, of the principal amount of the
Term Loans or any other term Debt (including Capitalized Lease Liabilities) and mandatory prepayments of the principal amount of the Revolving Loans pursuant to clause (c) of Section 3.1.1 in connection with a reduction of
the Revolving Loan Commitment Amount; 
 plus 
 (iii) all federal, state and foreign income taxes actually paid in cash by the Borrower and its Subsidiaries; 
 plus 
 (iv) Capital Expenditures actually made (excluding Capital Expenditures constituting Capitalized Lease Liabilities and by way of the incurrence of Indebtedness to a vendor of any assets permitted to be acquired pursuant to
Section 7.2.8 to finance the acquisition of such assets); 
 plus 
  

 3 

 (v) the amount of the net increase (or minus a net decrease), of Current Assets
over Current Liabilities of the Borrower and its Subsidiaries from the last day of the immediately preceding Fiscal Year; 
 plus 
 (vi) Investments permitted and actually made pursuant to clauses (d), (g),
(i) and (j) of Section 7.2.5; 
 plus 
 (vii) Restricted Payments (other than in connection with the Self Tender and Affiliate Purchase) permitted and actually made pursuant to
Section 7.2.6; 
 plus 
 (viii) the aggregate cash consideration amount of Permitted Acquisitions actually made; 
 plus 
 (ix) non-recurring charges incurred in connection with a Franchise Acquisition. 
 “Excess Shares”
shall mean the number of shares tendered by shareholders other than AHS and its Affiliates that are in excess of the number of shares offered for purchase under the Offer Documents. 
 “First Amendment” means the First Amendment to this Agreement, dated as of January 26, 2007, among the Borrower, the
Lenders and the Administrative Agent. 
 “First Amendment Effective Date” is defined in Section 3.1 of
the First Amendment. 
 “Maximum Amount” means the number of Shares that may be purchased by the Borrower in
the Affiliate Purchase in accordance with the terms of the Offer Documents. 
 “Offer Documents” means,
collectively, (i) the Offer to Purchase for Cash up to 8,300,000 shares of the Borrower’s common stock (and the related Letter of Transmittal and other related offering materials) filed with the U.S. Securities and Exchange Commission on
December 18, 2006 and (ii) the Purchase Agreement. 
 “Patriot Act” means the USA PATRIOT Act
(Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended and supplemented from time to time. 
  

 4 

 “PPS” means the price per share paid by the Borrower for the Shares
tendered by the holders of the shares in the Self Tender. 
 “Purchase Agreement” means the Stock Purchase
Agreement, dated as of December 17, 2006, by and between the Borrower and AHS. 
 “Rights Agreement”
means the Rights Agreement, dated as of November 15, 2001 (as amended), between the Borrower and Computershare, as rights agent. 
 “Self Tender and Affiliate Purchase” means, collectively, 
 (a) the purchase
by the Borrower from other than AHS and its Affiliates of up to 8,548,027 shares (which amount reflects the number of shares actually tendered pursuant to the Offer Documents) of its common Capital Securities, including the associated preferred
stock purchase rights issued pursuant to the Rights Agreement (the “Shares”) for an amount per Share determined in accordance with the Offer Documents (but in any event not to exceed $54.00 per Share) (the “Self
Tender”); and 
 (b) the purchase by the Borrower from AHS of up to the Maximum Amount of Shares in accordance with
the terms of the Purchase Agreement, for an amount per Share not to exceed the PPS, in accordance with the terms of the Purchase Agreement (referred to as the “Affiliate Purchase”). 
 “Shares” is defined in clause (a) of the definition of “Self Tender and Affiliate Purchase”.

 “Supplement” means any Supplement to this Agreement whereby any Lenders or any other lenders provide
commitments to make Term A-1 Loans and/or Term B Loans. 
 “Term A-1 Loans” means the Loans made on or after
the First Amendment Effective Date in accordance with clause (b) of Section 2.1.6 in an original principal amount of up to $700,000,000. 
 “Term A-1 Note” means a promissory note of the Borrower, payable to the order of any Lender, in the form of
Exhibit A-5 hereto (as such promissory note may be amended, endorsed or otherwise modified from time to time), evidencing the aggregate Indebtedness of the Borrower to such Lender resulting from outstanding Term A-1 Loans (including
Designated Additional Term A-1 Loans), and also means all other promissory notes accepted from time to time in substitution therefor or renewal thereof. 
 “Term B Loans” means the Loans made on the First Amendment Effective Date in accordance with clause (b) of Section 2.1.6 in an original principal amount of up to $500,000,000.

  

 5 

 “Term B Note” means a promissory note of the Borrower, payable to the
order of any Lender, in the form of Exhibit A-6 hereto (as such promissory note may be amended, endorsed or otherwise modified from time to time), evidencing the aggregate Indebtedness of the Borrower to such Lender resulting from
outstanding Term B Loans (including Designated Additional Term B Loans), and also means all other promissory notes accepted from time to time in substitution therefor or renewal thereof. 
 SECTION 2.1.2. The following definitions set forth in Section 1.1 of the Existing Credit Agreement are amended as follows: 
 (i) “Applicable Commitment Fee Margin” is amended in its entirety to read as follows: 
 “Applicable Commitment Fee Margin” means (i) prior to First Amendment Effective Date, determined as set forth in this Agreement
without giving effect to the First Amendment and (ii) from and after the First Amendment Effective Date, the applicable percentage set forth below corresponding to the relevant Net Debt to EBITDA Ratio: 
  

			
	 Net Debt to
EBITDA Ratio
	  	Applicable
Commitment Fee
Margin
	 33.50:1
	  	0.250%
		
	 <3.50:1 and 3 2.00:1
	  	0.200%
		
	 < 2.00:1 and 3 1.50:1
	  	0.175%
		
	 < 1.50
	  	0.150%

 Notwithstanding anything to the contrary set forth in this Agreement (including the then effective
Net Debt to EBITDA Ratio), the Applicable Commitment Fee Margin for Revolving Loans from the First Amendment Effective Date through (and including) the date of delivery of the Compliance Certificate (pursuant to clause (c) of
Section 7.1.1) in respect of the first Fiscal Quarter ending after the First Amendment Effective Date shall be 0.250%. Subject to Section 4.7, the Net Debt to EBITDA Ratio used to compute the Applicable Commitment Fee Margin
shall be the Net Debt to EBITDA Ratio set forth in the Compliance Certificate most recently delivered by the Borrower to the Administrative Agent. Changes in the Applicable Commitment Fee Margin resulting from a change in the Net Debt to EBITDA
Ratio shall become effective upon delivery by the Borrower to the Administrative Agent of a new Compliance Certificate pursuant to clause (c) of Section 7.1.1. If the Borrower fails to deliver a Compliance Certificate within
the time period set forth in clause (a) or (b) of Section 7.1.1, as applicable (the “Applicable Delivery Date”), the Applicable Commitment Fee Margin from and including the day after the 

  

 6 

 
Applicable Delivery Date to but not including the date the Borrower delivers to the Administrative Agent a Compliance Certificate shall equal the highest
Applicable Commitment Fee Margin set forth above. 
 (ii) “Applicable Margin” is amended in its entirety to read as follows:

 “Applicable Margin” means the applicable percentage set forth below corresponding to the relevant Net Debt to EBITDA
Ratio: 
 (a) For Term A Loans, Term A-1 Loans, Designated Additional Term A Loans, Designated Additional Term A-1 Loans and Revolving Loans:

  

					
	 Net Debt to EBITDA Ratio
	  	 Applicable
 Margin For
 Base Rate Loans
	 	 Applicable
 Margin For
 LIBO Rate Loans

	 33.50:1
	  	0.25%	 	1.250%
			
	 <3.50:1 and 3 2.00:1
	  	0.00%	 	1.000%
			
	 < 2.00:1 and 3 1.50:1
	  	0.00%	 	0.875%
			
	 < 1.50:1
	  	0.00%	 	0.750%

 Notwithstanding anything to the contrary set forth in this Agreement (including the then effective
Net Debt to EBITDA Ratio), the Applicable Margin for all Term A Loans, Term A-1 Loans, Designated Additional Term A Loans, Designated Additional Term A-1 Loans and Revolving Loans from the First Amendment Effective Date through (and including) the
date of delivery of the Compliance Certificate (pursuant to clause (c) of Section 7.1.1) in respect of the first Fiscal Quarter ending after the First Amendment Effective Date shall be (i) 0.25% for Base Rate Loans and
(ii) 1.250% for LIBO Rate Loans. Subject to Section 4.7, the Net Debt to EBITDA Ratio used to compute the Applicable Margin shall be the Net Debt to EBITDA Ratio set forth in the Compliance Certificate most recently delivered by the
Borrower to the Administrative Agent. Changes in the Applicable Margin resulting from a change in the Net Debt to EBITDA Ratio shall become effective upon delivery by the Borrower to the Administrative Agent of a new Compliance Certificate pursuant
to clause (c) of Section 7.1.1. If the Borrower fails to deliver a Compliance Certificate on or prior to the Applicable Delivery Date, the Applicable Margin from and including the day after the Applicable Delivery Date to but
not including the date the Borrower delivers to the Administrative Agent a Compliance Certificate shall equal the highest Applicable Margin set forth above. 
 (b) For Term B Loans and Designated Additional Term B Loans: 
  

					
	 Net Debt to EBITDA Ratio
	  	 Applicable
 Margin For
 Base Rate Loans
	 	 Applicable
 Margin For
 LIBO Rate Loans

	 33.00:1
	  	0.50%	 	1.50%
			
	 < 3.00:1
	  	0.25%	 	1.25%

  

 7 

 Notwithstanding anything to the contrary set forth in this Agreement (including the then effective Net
Debt to EBITDA Ratio), the Applicable Margin for all Term B Loans and Designated Additional Term B Loans from the First Amendment Effective Date through (and including) the date of delivery of the Compliance Certificate (pursuant to clause
(c) of Section 7.1.1) in respect of the first Fiscal Quarter ending after the First Amendment Effective Date shall be (i) 0.50% for Base Rate Loans and (ii) 1.50% for LIBO Rate Loans. Subject to
Section 4.7, the Net Debt to EBITDA Ratio used to compute the Applicable Margin shall be the Net Debt to EBITDA Ratio set forth in the Compliance Certificate most recently delivered by the Borrower to the Administrative Agent. Changes in
the Applicable Margin resulting from a change in the Net Debt to EBITDA Ratio shall become effective upon delivery by the Borrower to the Administrative Agent of a new Compliance Certificate pursuant to clause (c) of
Section 7.1.1. If the Borrower fails to deliver a Compliance Certificate on or prior to the Applicable Delivery Date, the Applicable Margin from and including the day after the Applicable Delivery Date to but not including the date the
Borrower delivers to the Administrative Agent a Compliance Certificate shall equal the highest Applicable Margin set forth above. 
 (c) The
Applicable Margin for Designated New Term Loans shall be determined pursuant to clause (a) of Section 2.1.6. 
 (iii)
“Designated New Loan” is amended in its entirety to read as follows: 
 “Designated New Loan” means, as the context
requires, a Designated Additional Term A Loan, a Designated Additional Term A-1 Loan, a Designated Additional Term B Loan and/or a Designated New Term Loan. 
 (iv) “Investment Grade Rating Date” is amended in its entirety to read as follows: 
 “Investment Grade Rating Date” means the date on which (a) the corporate credit rating assigned to the Borrower is an Investment Grade Rating; (b) no Default shall have occurred and be continuing; and (c) all
Term B Loans and Designated Additional Term B Loans (if any) shall have been repaid in full. 
 (v) “Loan” is amended in its
entirety to read as follows: 
 “Loan” means, as the context may require, a Revolving Loan, a Swing Line Loan, a Term A Loan,
a Term A-1 Loan, a Term B Loan and a Designated New Loan. 
 (vi) “Note” is amended in its entirety to read as follows: 

 

 8 

 “Note” means, as the context may require, a Revolving Note, a Swing Line Note, a
Registered Note, a Term A Note, a Term A-1 Note, a Term B Note or any promissory note representing a Designated New Loan. 
 (vii) “Percentage” is amended in its entirety to read as follows: 
 “Percentage” means, relative to any
Lender, the applicable percentage relating to Term A Loans, Term A-1 Loans, Term B Loans, any Tranche of Designated New Loans, Swing Line Loans or Revolving Loans, as the case may be, as set forth opposite its name on Schedule II hereto
(including Schedule II to the Supplement) under the applicable column heading or set forth in Lender Assignment Agreement(s) under the applicable column heading, as such percentage may be adjusted from time to time pursuant to Lender Assignment
Agreement(s) executed by such Lender and its Assignee Lender(s) and delivered pursuant to Section 11.11. A Lender shall not have any Commitment to make a particular Tranche of Loans (as the case may be) if its percentage under the
respective column heading is zero. 
 (viii) “Stated Maturity Date” is amended in its entirety to read as follows:

 “Stated Maturity Date” means 
 (a) in the case of any Revolving Loan, June 30, 2011; 
 (b) in the case of any Term A Loan or Designated Additional Term A Loan, June 30, 2011; 
 (c) in the case of any Term A-1 Loan or Designated Additional Term A-1 Loan, January 26, 2013; 
 (d) in the case of any Term B Loan or Designated Additional Term B Loan, January 26, 2014; and 
 (e) in the case of any Designated New Term Loan, as determined in accordance with Section 2.1.6. 
 (ix) “Subordinated Debt” is amended in its entirety to read as follows: 
 “Subordinated Debt” means any unsecured subordinated Debt of the Borrower which shall (a) contain subordination provisions that are
no less favorable to the holders of “Senior Indebtedness”, “Senior Debt” or terms of similar import as used in the applicable Sub Debt Documents than subordination provisions customarily contained in such documents for such type
of subordinated debt, (b) not provide for any amortization (in whole or in part) of the Debt issued thereunder prior to 6 months after the Stated Maturity Date for Term A Loans, Term A-1 Loans and Term B Loans and (c) contain such other
terms and conditions which, taken as a whole, are comparable to those customarily contained in Sub Debt Documents for such type of subordinated debt. 
  

 9 

 (x) “Term Loans” is amended in its entirety to read as follows: 
 “Term Loans” means, collectively, the Term A Loans, the Term A-1 Loans, the Term B Loans and the Designated New Loans. 
 (xi) “Tranche” is amended in its entirety to read as follows: 
 “Tranche” means, as the context may require, the Loans constituting Term A Loans, Term A-1 Loans, Term B Loans, Swing Line Loans, Revolving Loans or Designated New Loans. 
 SECTION 2.2. Amendments to Article II. Article II of the Existing Credit Agreement is hereby amended in accordance with Sections 2.2.1
through 2.2.2. 
 SECTION 2.2.1. Section 2.1.6 of the Existing Credit Agreement is amended and restated in its entirety to read
as follows: 
 (a) Designated Additional Loans. At any time that no Default has occurred and is continuing, the Borrower may notify the
Administrative Agent that the Borrower is requesting that, on the terms and subject to the conditions contained in this Agreement, the Lenders and/or other lenders not then a party to this Agreement provide up to an aggregate amount of $400,000,000
in commitments to provide (i) (A) additional Revolving Loan Commitments or (B) loans to be provided under a new tranche of revolving loans which have terms and conditions (including interest rate and maturity date), as mutually agreed
to by the Borrower, the Administrative Agent, the Syndication Agent and the Person(s) providing such new tranche of Loans (in either case, “Designated Additional Revolving Loan Commitments), (ii) additional Term A Loans
(“Designated Additional Term A Loans”), (iii) additional Term A-1 Loans (“Designated Additional Term A-1 Loans”), (iv) additional Term B Loans (“Designated Additional Term B Loans”) and/or
(v) loans to be provided under a new tranche of term loans (“Designated New Term Loans”) which have terms and conditions (including interest rate and amortization schedule), as mutually agreed to by the Borrower, the
Administrative Agent, the Syndication Agent and the Person(s) providing such new tranche of Loans. Notwithstanding anything to the contrary herein, the final maturity date of any new tranche of revolving loans described in clause (i)(B) above
shall be no earlier than the Stated Maturity Date of the Revolving Loans and the final maturity date of any Designated New Loans shall be no earlier than the Stated Maturity Date of the Term A Loans, the Term A-1 Loans or the Term B Loans. Upon
receipt of any such notice, the Administrative Agent shall use commercially reasonable efforts to arrange for the Lenders or other Eligible Institutions to provide such additional commitments; provided that the Administrative Agent will first
offer each of the Lenders that then has a Percentage of the Commitment or Loans of the type proposed to be obtained a pro rata portion of any such 

  

 10 

 
additional commitment. Nothing contained in this Section 2.1.6 or otherwise in this Agreement is intended to commit any Lender or any Agent to
provide any portion of any such additional commitments. If and to the extent that any Lenders and/or other lenders agree, in their sole discretion, to provide any such additional commitments, (i) in the case of Designated Additional Revolving
Loan Commitments of the type set forth in clause (i)(A) above, the Revolving Loan Commitment Amount shall be increased by the amount of the additional Revolving Loan Commitments agreed to be so provided, (ii) subject to compliance with
the terms of Section 5.2 and such other terms and conditions mutually agreed to among the Borrower, the Administrative Agent, the Syndication Agent and the Lenders providing any such other commitments, Loans of the type requested by the
Borrower will be made on the date as agreed among such Persons, (iii) the Percentages of the respective Lenders in respect of the applicable Commitment or type of Loan shall be proportionally adjusted (provided that the Percentage of each
Lender shall not be increased without the consent of such Lender), (iv) in the case of Designated Additional Revolving Loan Commitment of the type set forth in clause (i)(A) above at such time and in such manner as the Borrower and the
Administrative Agent shall agree (it being understood that the Borrower and the Agents will use commercially reasonable efforts to avoid the prepayment or assignment of any LIBO Rate Loan on a day other than the last day of the Interest Period
applicable thereto), the Lenders shall assign and assume outstanding Revolving Loans and participations in outstanding Letters of Credit so as to cause the amounts of such Revolving Loans and participations in Letters of Credit held by each Lender
to conform to the respective Percentages of the Revolving Loan Commitment of the Lenders and (v) the Borrower shall execute and deliver any additional Notes or other amendments or modifications to this Agreement or any other Loan Document as
the Administrative Agent may reasonably request. Any fees payable in respect of any commitment provided for in this Section 2.1.6 shall be as agreed to by the Borrower and the Administrative Agent. Any designation of a commitment
hereunder (i) shall be irrevocable, (ii) shall reduce the amount of commitments that may be requested under this Section 2.1.6 pro tanto and (iii) shall be in a minimum principal amount of $5,000,000 and integral multiples
of $1,000,000. 
 (b) Term A-1 and Term B Loans. The Borrower may request that, on the terms and subject to the conditions contained in
this Agreement and the Supplement, the Lenders and/or other lenders not then a party to this Agreement provide up to an aggregate amount of $1,200,000,000 in commitments to provide Term A-1 Loans and Term B Loans to the Borrower on or following the
First Amendment Effective Date (any such commitments shall be deemed a “Commitment” for all purposes in the Loan Documents and the commitment amounts in respect thereof shall thereafter be included in the definition of “Commitment
Amount”). The Borrower shall execute and deliver any additional Notes or other amendments or modifications to this Agreement or any other Loan Document as the Administrative Agent may reasonably request. 
  

 11 

 SECTION 2.2.2. Section 2.2.2 of the Existing Credit Agreement is hereby amended by adding the words
“or Excess Cash Flow” after the words “Net Disposition Proceeds” in the fourth line of such Section. 
 SECTION 2.3.
Amendments to Article III. Article III of the Existing Credit Agreement is hereby amended in accordance with Sections 2.3.1 through 2.3.2. 
 SECTION 2.3.1. Section 3.1.1 is amended by (i) re-lettering clauses (e) and (f) of such Section as clauses “(h)” and “(i)”, respectively, and (ii) adding a new clauses (e),
(f) and (g), to read in their entirety as follows: 
 (e) the Borrower shall, on the Stated Maturity Date and on each Quarterly Payment
Date occurring on or during any period set forth below, make a scheduled repayment of the aggregate outstanding principal amount, if any, of all Term A-1 Loans in an amount equal to the amount set forth below opposite the Stated Maturity Date or
such Quarterly Payment Date (as such amounts may have otherwise been reduced pursuant to this Agreement), as applicable: 
  

			
	 01/01/07 through (and including)
12/31/07
	  	$0.00
	 01/01/08 through (and including)
12/31/08
	  	$0.00
	 01/01/09 through (and including)
12/31/09
	  	$26,250,000.00
	 01/01/10 through (and including)
12/31/10
	  	$35,000,000.00
	 01/01/11 through (and including)
12/31/11
	  	$43,750,000.00;
	 01/01/12 through (and including)
Stated Maturity Date for Term A-1 Loans
	  	$56,000,000.00 (or the then outstanding principal amount of Term A-1 Loans, if different);

  

 12 

 provided, that each remaining amortization amount of Term A-1 Loans occurring after the date of
the making of a Designated Additional Term A-1 Loan will be increased pro rata by the aggregate principal amount of any Designated Additional Term A-1 Loan based on the percentage of the original principal amount of Term A-1 Loans payable on
such Quarterly Payment Date with any excess due and payable on the Stated Maturity Date for Term A-1 Loans; 
 (f) the Borrower shall, on the
Stated Maturity Date and on each Quarterly Payment Date occurring on or during any period set forth below, make a scheduled repayment of the aggregate outstanding principal amount, if any, of all Term B Loans in an amount equal to the amount set
forth below opposite the Stated Maturity Date or such Quarterly Payment Date (as such amounts may have otherwise been reduced pursuant to this Agreement), as applicable: 
  

			
	 01/01/07 through (and including)
12/31/13
	  	$1,250,000.00
	Stated Maturity Date for Term B Loans	  	$465,000,000.00 (or the then outstanding principal amount of Term B Loans, if different);

 provided, that each remaining amortization amount of Term B Loans occurring after the date
of the making of a Designated Additional Term B Loan will be increased pro rata by the aggregate principal amount of any Designated Additional Term B Loan based on the percentage of the original principal amount of Term B Loans payable
on such Quarterly Payment Date with any excess due and payable on the Stated Maturity Date for Term B Loans; 
 (g) the Borrower shall, within
120 days following the last day of each Fiscal Year (beginning with the 2007 Fiscal Year), (or, if earlier, on the same day that it delivers the Borrower’s annual audited financial reports pursuant to clause (b) of
Section 7.1.1), deliver to the Administrative Agent a calculation of the Excess Cash Flow for such Fiscal Year and no later than five Business Days following the delivery of such calculation, make a mandatory prepayment of the Loans in
an aggregate amount equal to the Applicable Percentage of the Excess Cash Flow (if any) for such period, to be applied as set forth in Section 3.1.2 and Section 2.2.2; 
  

 13 

 SECTION 2.3.2. Clause (c) of Section 3.1.2 is amended in its entirety to read as follows:

 (c) Each prepayment of Term Loans made pursuant to clause (b) and clause (g) of Section 3.1.1 shall be
applied pro rata to a mandatory prepayment of the outstanding principal amount of all Term Loans (with the amount of such prepayment of the Term Loans being applied to the remaining Term Loan amortization payments, as the case may be,
required pursuant to clauses (d), (e), (f) and (i) of Section 3.1.1, in each case pro rata in accordance with the amount of each such remaining amortization payment), until all such
Term Loans have been paid in full and, thereafter, shall be applied in accordance with Section 2.2.2. 
 SECTION 2.4.
Amendment to Article IV. Article IV of the Existing Credit Agreement is hereby amended in accordance with Section 2.4.1. 
 SECTION 2.4.1. Section 4.7 is amended by adding the following text to the end of such Section: 
 The
Borrower acknowledges that the Lenders’ agreement to the amount of the Applicable Margin and fees payable under the Loan Documents is predicated on, among other things, the delivery by the Obligors pursuant to Section 7.1.1 of
accurate and actual reporting of results of operation, and that the financial covenant ratios set forth in a Compliance Certificate shall only be treated by the Secured Parties as presumptive evidence of such actual results. If the actual Net Debt
to EBITDA Ratio for any period is higher than that set forth in a Compliance Certificate for such period, then the amount of interest and fees owing for such period shall be established by reference to the actual Net Debt to EBITDA Ratio, and not
such ratio set forth in the Compliance Certificate. Promptly, and in any event within three days, following the earlier of (i) the Borrower’s receipt of a notice from the Administrative Agent pursuant to this clause or (ii) the
Borrower’s knowledge that the Net Debt to EBITDA Ratio for a particular period was higher than that reported for such period, the Borrower shall pay to the Administrative Agent all unpaid interest for such period based upon the actual Net Debt
to EBITDA Ratio. In no event will the Lenders be required to rebate interest or fees paid by the Borrower, and the payment of incremental interest pursuant to this clause shall not adversely effect (and are without limitation of) the other rights
and remedies of the Secured Parties under the Loan Documents. 
 SECTION 2.5. Amendments to Article VII. Article VII of the Existing
Credit Agreement is hereby amended in accordance with Sections 2.5.1 through 2.5.4. 
 SECTION 2.5.1. Section 7.1.9
is amended by (i) deleting the word “and” at the end of clause (a), (ii) deleting the period at the end of clause (b) and inserting “; and” in its place and (iii) adding a new clause (c) to read in its
entirety as follows: 
  

 14 

 (c) the proceeds of the Term A-1 Loans and the Term B Loans shall be applied by the Borrower (i) to
fund the Self Tender and Affiliate Purchase, (ii) to fund the refinancing of Indebtedness under the WW.com Debt Documents and (iii) to finance the payment of the fees and expenses related to the foregoing; provided that to the
extent the Borrower does not purchase the Excess Shares, up to $10,000,000 of the proceeds of the Term A-1 Loans shall be applied to repay outstanding Revolving Loans. 
 SECTION 2.5.2. Section 7.2.4 is amended in its entirety to read as follows: 
 SECTION 7.2.4.
Financial Condition. 
 (a) Net Debt EBITDA Ratio. The Borrower will not permit the Net Debt to EBITDA Ratio as of the end of
any Fiscal Quarter (i) prior to the First Amendment Effective Date, to be greater than 3.00 to 1.00 and (ii) thereafter, to be greater than 5.00 to 1.00. 
 (b) Interest Coverage Ratio. The Borrower will not permit the Interest Coverage Ratio as of the end of any Fiscal Quarter (i) prior to the First Amendment Effective Date, to be less than 3.00 to 1.00 and
(ii) thereafter, to be less than 2.00 to 1.00. 
 SECTION 2.5.3. Section 7.2.6 is amended by (i) deleting the words
“subject to clause (b)(ii),” appearing in the first line of clause (a) of such Section, (ii) re-lettering clause (a)(iii) as “(a)(iv)”, (iii) restating clause (a)(ii) to read in its entirety as
set forth below and (iv) adding a new clause (a)(iii), to read in its entirety as follows: 
 (ii) the Borrower may make Restricted
Payments of extraordinary dividends or to repurchase the Borrower’s Capital Securities (other than pursuant to clause (a)(iii)), so long as no Default has occurred and is continuing or would be caused thereby; provided,
however, if the Investment Grade Rating Date has not occurred, such Restricted Payments shall not exceed $150,000,000 in the aggregate in any Fiscal Year for those Fiscal Quarters in such Fiscal Year during which either (A) subject to
Section 4.7, the Net Debt to EBITDA Ratio is equal to or greater than 3.75:1 as set forth in the Compliance Certificate most recently delivered to the Administrative Agent or (B) the Net Debt to EBITDA Ratio is equal to or greater
than 3.75:1 after giving pro forma effect to such Restricted Payments as of (and including) the computation date of the Compliance Certificate most recently delivered to the Administrative Agent; 
 (iii) the Borrower may make Restricted Payments in connection with the Self Tender and Affiliate Purchase in accordance with the terms of the Offer
Documents; and 
  

 15 

 SECTION 2.5.4. Section 7.2.11 is amended by (i) deleting the word “and” at the end of
clause (a), (ii) deleting the period at the end of clause (b) and inserting “; and” in its place, and (iii) adding a new clause (c), to read in its entirety as follows: 
 (c) except that the Borrower may consummate the Self Tender and Affiliate Purchase in accordance with the terms of the Offer Documents. 
 SECTION 2.6. Amendments to Article XI. Article XI of the Existing Credit Agreement is hereby amended by adding a new Section 11.18 at the end
of such Article to read in its entirety as follows: 
 SECTION 11.18. Patriot Act. The Administrative Agent and each Lender hereby
notifies the Borrower that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies each Borrower, which information includes the name and address of such Borrower and other information
that will allow the Administrative Agent or such Lender to identify such Borrower in accordance with the Patriot Act. The Borrower agrees to promptly deliver, following a request by the Administrative Agent or any Lender, all documentation and other
information the Administrative Agent or such Lender reasonably requests in order to comply with the Patriot Act and its ongoing obligations under other applicable “know your customer” and anti-money laundering rules and regulations.

 SECTION 2.7. Exhibits. The exhibits to the Existing Credit Agreement are hereby amended by adding Exhibits A-5 and A-6 hereto.

 ARTICLE III 
 CONDITIONS TO
EFFECTIVENESS 
 SECTION 3.1. Effective Date. This Amendment Agreement shall become effective on the date (the “First
Amendment Effective Date”) when all of the conditions set forth in this Article have been satisfied. 
 SECTION 3.1.1. Execution
of Counterparts. The Administrative Agent shall have received counterparts of this Amendment Agreement, duly executed and delivered on behalf of the Borrower and the Required Lenders. 
 SECTION 3.1.2. Affirmation and Consent. The Administrative Agent shall have received an Affirmation and Consent, dated as of the First Amendment
Effective Date, in form and substance satisfactory to the Administrative Agent, duly executed and delivered by each of the Obligors (other than the Borrower). 
 SECTION 3.1.3. Costs and Expenses, etc. The Administrative Agent shall have received for the account of each Lender all fees, costs and expenses due and payable pursuant to Sections 3.3 and 11.3 of the Credit
Agreement, if then invoiced. 
  

 16 

 SECTION 3.1.4. Refinancing Amounts under WW.com Debt Documents. The Administrative Agent shall
have received evidence satisfactory to it that all amounts owing under the WW.com Debt Documents have been (or contemporaneous with the Term A-1 Loans and Term B Loans being made on the First Amendment Effective Date, will be), paid in
full, and all commitments under the WW.com Debt Documents shall have been terminated and all collateral securing obligations under the WW.com Debt Documents shall have been released. 
 SECTION 3.1.5. Resolutions, etc. The Administrative Agent shall have received from WW.com and its U.S. Subsidiaries (i) a copy of a good
standing certificate, dated a date reasonably close to the First Amendment Effective Date and (ii) a certificate, dated the First Amendment Effective Date, of its Secretary or Assistant Secretary as to: 
 (a) resolutions of each such Person’s Board of Directors (or other managing body, in the case of other than a corporation) then in
full force and effect authorizing the execution, delivery and performance of each Loan Document to be executed by such Person and the transactions contemplated thereby; 
 (b) the incumbency and signatures of the Authorized Officers of WW.com and its U.S. Subsidiaries authorized to act with respect to each
Loan Document to be executed by such Person; and 
 (c) the full force and validity of the certificate of incorporation and
by-laws of such Person and copies thereof; 
 upon which certificates each Lender may conclusively rely until such Lender shall have received a further
certificate of any such Person canceling or amending the prior certificate of such Person. 
 SECTION 3.1.6. Security Documents. The
Administrative Agent shall have received each agreement, instrument or other document required to be delivered pursuant to Section 7.1.7(c) and 7.1.8(c) of the Credit Agreement, in form and substance satisfactory to the Administrative Agent,
duly executed and/or delivered by an Authorized Officer of WW.com and its Subsidiaries (if any). 
 SECTION 3.1.7. Incurrence of
Term A-1 Loans and Term B Loans. The Borrower shall have borrowed (or, contemporaneous with the effectiveness of this Amendment, will borrow) up to $135,000,000 of Term A-1 Loans and up to $500,000,000 of Term B Loans, in
accordance with the terms of the Supplement attached hereto as Annex I. 
 SECTION 3.1.8. Patriot Act Disclosures. The
Administrative Agent and each Lender shall have received all documentation and other information which the Administrative Agent or any Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your
customer” and anti-money laundering rules and regulations, including the Patriot Act. 
 SECTION 3.1.9. Satisfactory Legal Form.
All documents executed or submitted pursuant hereto by or on behalf of the Borrower shall be reasonably satisfactory in form and 

  

 17 

 
substance to the Administrative Agent and its counsel, and the Administrative Agent and its counsel shall have received all information, approvals, documents
or instruments as the Administrative Agent or such counsel may reasonably request. 
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
 To induce the
Lenders to enter into this Amendment Agreement, the Borrower represents and warrants to the Lenders as set forth below. 
 SECTION 4.1.
Validity, etc. This Amendment Agreement constitutes the legal, valid and binding obligation of the Borrower enforceable in accordance with its terms subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 
 SECTION 4.2. Representations and Warranties, etc. Both before and after giving effect to this Amendment Agreement, the statements set forth in
Section 5.2.1 of the Credit Agreement are true and correct. 
 ARTICLE V 
 MISCELLANEOUS 
 SECTION 5.1. Cross-References. References in this Amendment
Agreement to any Article or Section are, unless otherwise specified or otherwise required by the context, to such Article or Section of this Amendment Agreement. 
 SECTION 5.2. Loan Document Pursuant to Existing Credit Agreement. This Amendment Agreement is a Loan Document executed pursuant to the Existing Credit Agreement and shall be construed, administered and applied
in accordance with all of the terms and provisions of the Existing Credit Agreement and, after the First Amendment Effective Date, the Credit Agreement. 
 SECTION 5.3. Successors and Assigns. This Amendment Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 SECTION 5.4. Counterparts. This Amendment Agreement may be executed by the parties hereto in several counterparts, each of which when executed and
delivered shall be deemed to be an original and all of which together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment Agreement by facsimile shall be effective as delivery of
a manually executed counterpart of this Amendment Agreement. 
 SECTION 5.5. Governing Law. THIS AMENDMENT AGREEMENT SHALL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 
  

 18 

 SECTION 5.6. Full Force and Effect; Limited Amendment. Except as expressly amended hereby, all of
the representations, warranties, terms, covenants, conditions and other provisions of the Existing Credit Agreement and the Loan Documents shall remain unchanged and shall continue to be, and shall remain, in full force and effect in accordance with
their respective terms. The amendments set forth herein shall be limited precisely as provided for herein to the provisions expressly amended herein and shall not be deemed to be an amendment to, waiver of, consent to or modification of any other
term or provision of the Existing Credit Agreement or any other Loan Document or of any transaction or further or future action on the part of any Obligor which would require the consent of the Lenders under the Existing Credit Agreement or any of
the Loan Documents. 
  

 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement to be executed by their
respective officers thereunto duly authorized as of the date first above written. 
  

			
	WEIGHT WATCHERS INTERNATIONAL, INC.
		
	By:	 	 /s/ Jeffrey A. Fiarman

	Name:	 	Jeffrey A. Fiarman
	Title:	 	Secretary

			
	 THE BANK OF NOVA SCOTIA,
 as the
Administrative Agent

		
	By:	 	 /s/ Stephen Johnson

	Name:	 	 Stephen Johnson

	Title:	 	 Managing Director

			
	BANK LEUMI USA
		
	By:	 	 /s/ Jonng Hee Hong

	Name:	 	Jonng Hee Hong
	Title:	 	First Vice President

  

			
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Gennadiy Gershman

	Name:	 	Gennadiy Gershman
	Title:	 	 Vice President
 Senior Products
Underwriter

  

			
	CHARTER ONE BANK, N.A.
		
	By:	 	 /s/ Kathleen D. Schurr

	Name:	 	Kathleen D. Schurr
	Title:	 	Vice President

  

			
	CITIBANK, N.A.
		
	By:	 	 /s/ Jason Quinn

	Name:	 	Jason Quinn
	Title:	 	Vice President

  

			
	 COMMERZBANK AG, NEW YORK AND
 GRAND CAYMAN
BRANCHES

		
	By:	 	 /s/ Robert S. Taylor

	Name:	 	Robert S. Taylor
	Title:	 	Senior Vice President
		
	By:	 	 /s/ Barbara Peters

	Name:	 	Barbara Peters
	Title:	 	Assistant Vice President

  

			
	 COOPERATIEVE CENTRALE RAIFFEISEN-
 BOERENLEENBANK B.A. “RABOBANK
 NEDERLAND” NEW YORK BRANCH

		
	By:	 	 /s/ Tamira Treffers-Herrera

	Name:	 	Tamira Treffers-Herrera
	Title:	 	Executive Director
		
	By:	 	 /s/ Nick Baikie

	Name:	 	Nick Baikie
	Title:	 	Attorney-in-fact

  

			
	CREDIT INDUSTRIEL ET COMMERCIAL
		
	By:	 	 /s/ Brian O’Leary

	Name:	 	Brian O’Leary
	Title:	 	Managing Director
		
	By:	 	 /s/ Dora Hyduk

	Name:	 	Dora Hyduk
	Title:	 	Senior Credit Manager

  

			
	 CREDIT SUISSE, CAYMAN ISLANDS
 BRANCH

		
	By:	 	 /s/ Sarah Wu

	Name:	 	Sarah Wu
	Title:	 	Director
		
	By:	 	 /s/ Cassandra Droogan

	Name:	 	Cassandra Droogan
	Title:	 	Vice President

  

			
	 FIRST COMMERCIAL BANK NEW YORK
 AGENCY

		
	By:	 	 /s/ Bruce Ju

	Name:	 	Bruce Ju
	Title:	 	Senior Vice President & General Manager

  

			
	FORTIS CAPITAL CORP.
		
	By:	 	 /s/ Egens M. Van Iterson Scholten

	Name:	 	Egens M. Iterson Scholten
		
	By:	 	 /s/ Daniel Jaffe

	Name:	 	Daniel Jaffe

  

			
	 GENERAL ELECTRIC CAPITAL
 CORPORATION

		
	By:	 	 /s/ Martin J. Mahoney

	Name:	 	Martin J. Mahoney
	Title:	 	Duly Authorized Signatory

  

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ Jeffrey Lubatkin

	Name:	 	Jeffrey Lubatkin
	Title:	 	Senior Vice President

  

			
	MIZUHO CORPORATE BANK, LTD.
		
	By:	 	 /s/ James Fayen

	Name:	 	James Fayen
	Title:	 	Deputy General Manager

  

			
	 NATIXIS, f/k/a NATEXIS BANQUES
 POPULAIRES

		
	By:	 	 /s/ Caroline Vérot Moore

	Name:	 	Caroline Vérot Moore
		
	By:	 	 /s/ Pieter van Tulder

	Name:	 	Pieter van Tulder

  

			
	NORTH FORK BANK
		
	By:	 	 /s/ Philip Davi

	Name:	 	Philip Davi
	Title:	 	Senior Vice President

  

			
	SCOTIABANC INC., as a Lender
		
	By:	 	 /s/ William E. Zarrett

	Name:	 	William E. Zarrett
	Title:	 	Managing Director

  

			
	SOVEREIGN BANK
		
	By:	 	 /s/ Antonia Badolato

	Name:	 	Antonia Badolato
	Title:	 	Senior Vice President

  

			
	STATE BANK OF INDIA, NEW YORK
		
	By:	 	 /s/ Ashok Wanchoo

	Name:	 	Ashok Wanchoo
	Title:	 	President & Head (Credit)

  

			
	TD BANKNORTH, NA
		
	By:	 	 /s/ John Mercier

	Name:	 	John Mercier
	Title:	 	Senior Vice President

  

			
	THE BANK OF NEW YORK
		
	By:	 	 /s/ Roger A Grossman

	Name:	 	Roger A. Grossman

  

			
	THE BANK OF NOVA SCOTIA, as a Lender
		
	By:	 	 /s/ Stephen Johnson

	Name:	 	Stephen Johnson
	Title:	 	Managing Director

  

			
	 THE GOVERNOR AND COMPANY OF THE
 BANK OF
IRELAND

		
	By:	 	 /s/ Olive Kidd

	Name:	 	Olive Kidd
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Dierdre Reddan

	Name:	 	Dierdre Reddan
	Title:	 	Authorized Signatory

  

			
	UNION BANK OF CALIFORNIA, N.A.
		
	By:	 	 /s/ Marissa Petri

	Name:	 	Marissa Petri

  

			
	 UNITED OVERSEAS BANK LIMITED, NEW
 YORK
AGENCY

		
	By:	 	 /s/ George Lim

	Name:	 	George Lim
	Title:	 	FVP & General Manager
		
	By:	 	 /s/ Mario Sheng

	Name:	 	Mario Sheng
	Title:	 	Assistant Vice President

  

			
	U.S. BANK N.A.
		
	By:	 	 /s/ M. Scott Donaldson

	Name:	 	M. Scott Donaldson
	Title:	 	Vice President

  

			
	WACHOVIA BANK, N.A.
		
	By:	 	 /s/ Alan R. Green

	Name:	 	Alan R. Green
	Title:	 	Senior Vice President

 EXHIBIT A-5 
 FORM OF TERM A-1 NOTE 
  

			
	$            	 	January 26, 2007

 FOR VALUE RECEIVED, the undersigned, WEIGHT WATCHERS INTERNATIONAL, INC., a Virginia corporation
(“WWI”), promises to pay to the order of                      (the “Lender”) the principal sum of
             ($            ) or, if less, the aggregate unpaid principal amount of all Term A-1 Loans shown on
the schedule attached hereto (and any continuation thereof) made (or continued) by the Lender pursuant to the Sixth Amended and Restated Credit Agreement, dated as of May 8, 2006 (as amended by the First Amendment, dated as of January 26,
2007, and as further amended, supplemented, amended and restated or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the various financial institutions party thereto (the
“Lenders”), the Syndication Agent and the Administrative Agent, payable in installments as set forth in the Credit Agreement, with a final installment (in the amount necessary to pay in full this Note) due and payable on the Stated
Maturity Date for Term A-1 Loans. Unless otherwise defined herein, terms used herein have the meanings provided in the Credit Agreement. 
 WWI also promises to pay interest on the unpaid principal amount hereof from time to time outstanding from the date hereof until maturity (whether by acceleration or otherwise) and, after maturity, until paid, at the rates per annum and on
the dates specified in the Credit Agreement. 
 Payments of both principal and interest are to be made in U.S. Dollars in same day or
immediately available funds to the account designated by the Administrative Agent pursuant to the Credit Agreement. 
 This Note is one of
the Term A-1 Notes referred to in, and evidences Indebtedness incurred under, the Credit Agreement, to which reference is made for a description of the security for this Note and for a statement of the terms and conditions on which WWI is permitted
and required to make prepayments and repayments of principal of the Indebtedness evidenced by this Note and on which such Indebtedness may be declared to be immediately due and payable. 
 All parties hereto, whether as makers, endorsers, or otherwise, severally waive presentment for payment, demand, protest and notice of dishonor.

 THIS NOTE HAS BEEN DELIVERED IN NEW YORK, NEW YORK AND SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 
  

			
	WEIGHT WATCHERS INTERNATIONAL, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 A-5 2 

 DESIGNATED ADDITIONAL TERM A-1 LOANS AND PRINCIPAL PAYMENTS 
  

																			
	 	  	Amount of Term A-1
Loan Made	  	Interest
Period (If
Applicable)	  	 Amount of Principal
 Repaid
	  	 Unpaid Principal
 Balance
	  	 Total
	  	 Notation Made By

	 Date
	  	Alternate
Base Rate	  	LIBO
Rate	  	  	Alternate
Base Rate	  	LIBO
Rate	  	Alternate
Base Rate	  	LIBO
Rate	  	  
		  		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  		  	

  

 50 

 EXHIBIT A-6 
 FORM OF TERM B NOTE 
  

			
	$            	 	January 26, 2007

 FOR VALUE RECEIVED, the undersigned, WEIGHT WATCHERS INTERNATIONAL, INC., a Virginia corporation
(“WWI”), promises to pay to the order of                      (the “Lender”) the principal sum of
             ($            ) or, if less, the aggregate unpaid principal amount of all Term B Loans shown on
the schedule attached hereto (and any continuation thereof) made (or continued) by the Lender pursuant to the Sixth Amended and Restated Credit Agreement, dated as of May 8, 2006 (as amended by the First Amendment, dated as of January 26,
2007, and as further amended, supplemented, amended and restated or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the various financial institutions party thereto (the
“Lenders”), the Syndication Agent and the Administrative Agent, payable in installments as set forth in the Credit Agreement, with a final installment (in the amount necessary to pay in full this Note) due and payable on the Stated
Maturity Date for Term B Loans. Unless otherwise defined herein, terms used herein have the meanings provided in the Credit Agreement. 
 WWI
also promises to pay interest on the unpaid principal amount hereof from time to time outstanding from the date hereof until maturity (whether by acceleration or otherwise) and, after maturity, until paid, at the rates per annum and on the dates
specified in the Credit Agreement. 
 Payments of both principal and interest are to be made in U.S. Dollars in same day or immediately
available funds to the account designated by the Administrative Agent pursuant to the Credit Agreement. 
 This Note is one of the Term B
Notes referred to in, and evidences Indebtedness incurred under, the Credit Agreement, to which reference is made for a description of the security for this Note and for a statement of the terms and conditions on which WWI is permitted and required
to make prepayments and repayments of principal of the Indebtedness evidenced by this Note and on which such Indebtedness may be declared to be immediately due and payable. 
 All parties hereto, whether as makers, endorsers, or otherwise, severally waive presentment for payment, demand, protest and notice of dishonor.

 THIS NOTE HAS BEEN DELIVERED IN NEW YORK, NEW YORK AND SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 
  

			
	WEIGHT WATCHERS INTERNATIONAL, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 A-6 2 

 DESIGNATED ADDITIONAL TERM B LOANS AND PRINCIPAL PAYMENTS 
  

																			
	 	  	Amount of Term B
Loan Made	  	Interest
Period (If
Applicable)	  	Amount of Principal
Repaid	  	Unpaid Principal
Balance	  	 Total
	  	 Notation Made By

	 Date
	  	Alternate
Base Rate	  	LIBO
Rate	  	  	Alternate
Base Rate	  	LIBO
Rate	  	Alternate
Base Rate	  	LIBO
Rate	  	  
		  		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  		  	

 ANNEX I 
 EXECUTION COPY 
 SUPPLEMENT TO 
 SIXTH AMENDED AND RESTATED CREDIT AGREEMENT 
 This SUPPLEMENT, dated as of January 26, 2007 (this
“Supplement”), to the Existing Credit Agreement referred to below, is among WEIGHT WATCHERS INTERNATIONAL, INC., a Virginia corporation (the “Borrower”), certain Lenders (such term, and other capitalized terms used
in this Supplement, to have the meanings set forth in Section I below) and The Bank of Nova Scotia, as the Administrative Agent for the Lenders, with Credit Suisse Securities (USA) LLC and JPMorgan Securities Inc. acting as Joint Bookrunners
and Joint Lead Arrangers for the Term A-1 Loans and the Term B Loans, and Bank of America, N.A. and Fortis Capital Corp. acting as Co-Documentation Agents. 
 W I T N E S S E T H: 
 WHEREAS,
pursuant to the Sixth Amended and Restated Credit Agreement, dated as of May 8, 2006 (as further amended, supplemented or otherwise modified on or prior to the date hereof, the “Existing Credit Agreement”), among the Borrower,
the Lenders and the Administrative Agent, the Lenders made (and remain committed to make) Credit Extensions to the Borrower; and 
 WHEREAS,
pursuant to clause (b) of Section 2.1.6 of the Existing Credit Agreement, the Borrower has requested (i) up to $700,000,000 of loans to be provided under a new tranche of term loans (the “Term A-1 Loans”), of which
$135,000,000 will be provided on the Supplement Effective Date and up to $565,000,000 will be provided on the Delayed Draw Date and (ii) $500,000,000 of loans to be provided under a new tranche of term loans (the “Term B
Loans”) on the Supplement Effective Date, and this Supplement is being executed and delivered to evidence the terms of, and give effect to the making of, such Term A-1 Loans and Term B Loans; 
 NOW, THEREFORE, in consideration of the agreements herein contained and pursuant to Section 2.1.6 of the Existing Credit Agreement, the Existing
Credit Agreement is hereby supplemented as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1. Certain Definitions. The following terms (whether or not underscored) when
used in this Supplement shall have the following meanings (such meanings to be equally applicable to the singular and plural form thereof): 
 “Delayed Draw Amount” means the aggregate principal amount of up to $565,000,000 of Term A-1 Loans. 

 “Delayed Draw Date” means the date (which shall be no later than February 16, 2007)
on which the Borrowing of the Delayed Draw Amount is made following the Supplement Effective Date. 
 “Existing Credit
Agreement” is defined in the first recital. 
 “Initial Term A-1 Loan Amount” means the aggregate principal
amount of $135,000,000 of Term A-1 Loans. 
 “Supplement” is defined in the preamble. 
 “Supplement Effective Date” is defined in Section 3.1. 
 “Term A-1 Loan Commitment” is defined in Section 2.1(a). 
 “Term B Loan Commitment” is define in Section 2.1(b). 
 SECTION 1.2. Other Definitions. Terms for which meanings are provided in the Existing Credit Agreement are, unless otherwise defined herein or the
context otherwise requires, used in this Supplement with such meanings. 
 ARTICLE II 
 TERMS OF TERM A-1 LOANS AND TERM B LOANS 
 SECTION 2.1. Commitment. Subject to
the terms hereof, the Borrower, the Lenders party to this Supplement and the Administrative Agent agree that: 
 (a) in a
single Borrowing occurring on the Supplement Effective Date, each Lender that has a Term A-1 Loan Commitment will make Term A-1 Loans to the Borrower in an amount equal to such Lender’s Percentage of the Initial Term A-1 Loan Amount, and in a
single Borrowing occurring on the Delayed Draw Date, each Lender that has a Term A-1 Commitment will make Term A-1 Loans to the Borrower in an amount equal to such Lender’s Percentage of the Delayed Draw Amount (with the commitment of each such
Lender described in this clause (a) referred to as its “Term A-1 Loan Commitment”) and no commitment fees shall be payable to any Lenders in respect of the Delayed Draw Amount; 
 (b) in a single Borrowing occurring on the Supplement Effective Date, each Lender that has a Term B Loan Commitment will make Term B Loans
to the Borrower in an amount equal to such Lender’s Percentage of the aggregate amount of the Borrowing of Term B Loans requested by the Borrower to be made on such day (with the commitment of each such Lender described in this clause
(b) referred to as its “Term B Loan Commitment”); 
 (c) each applicable Lender’s Percentage of
Term A-1 Loans and/or Term B Loans shall initially be as set forth opposite its name on Schedule II hereto under the applicable column heading and such Schedule II hereto shall be deemed to supplement Schedule II to the Existing
Credit Agreement; and 
  

 2 

 (d) no amounts paid or prepaid with respect to any Term A-1 Loans or Term B Loans may be
reborrowed. 
 SECTION 2.2. Lenders Not Permitted or Required to Make Loans. No Lender shall be permitted or required to, and the
Borrower shall not request that any Lender, make (a) any Term A-1 Loan if, after giving effect thereto, the aggregate original principal amount of all the Term A-1 Loans (i) of all Lenders would exceed the Term A-1 Loan Commitment Amount
or (ii) of such Lender would exceed such Lender’s Percentage of the Term A-1 Loan Commitment Amount or (b) any Term B Loan if, after giving effect thereto, the aggregate original principal amount of all the Term B Loans (i) of
all Lenders would exceed the Term B Loan Commitment Amount or (ii) of such Lender would exceed such Lender’s Percentage of the Term B Loan Commitment Amount. 
 ARTICLE III 
 CONDITIONS TO EFFECTIVENESS 
 SECTION 3.1. Effective Date. This Supplement shall become effective on the date (the “Supplement Effective Date”) when all of the
conditions set forth in this Article have been satisfied. 
 SECTION 3.1.1. Execution of Counterparts. The Administrative Agent shall
have received counterparts of this Supplement, executed on behalf of the Borrower, the Sole Lead Arranger, the Administrative Agent and each Lender that will initially make the Term A-1 Loans and/or the Term B Loans. 
 SECTION 3.1.2. Resolutions, etc. The Administrative Agent shall have received from the Borrower (x) a copy of a good standing certificate
dated a date reasonably close to the Supplement Effective Date and (y) a certificate, dated the Supplement Effective Date, of its Secretary or Assistant Secretary as to: 
 (a) resolutions of the Borrower’s Board of Directors then in full force and effect authorizing the execution, delivery and
performance of (i) this Supplement, (ii) the Amendment and (iii) the Notes evidencing, and the borrowing of, the Term A-1 Loans and the Term B Loans; and 
 (b) the incumbency and signatures of the Borrower’s Authorized Officers authorized to execute and deliver this Supplement and the
Notes evidencing the Term A-1 Loans and the Term B Loans; 
 upon which certificate each Lender may conclusively rely until such Lender shall have received a
further certificate of the Borrower canceling or amending the prior certificate. 
 SECTION 3.1.3. Delivery of Notes. The
Administrative Agent shall have received a Note for the account of each applicable Lender that has requested a Note evidencing such Lender’s Term A-1 Loans or Term B Loans, duly executed and delivered by an Authorized Officer of the Borrower.

  

 3 

 SECTION 3.1.4. Affirmation and Consent. The Administrative Agent shall have received an
affirmation and consent substantially in the form of Exhibit A hereto, dated the Supplement Effective Date and duly executed by an Authorized Officer of each Guarantor. 
 SECTION 3.1.5. Opinions of Counsel. The Administrative Agent shall have received opinions, dated the Supplement Effective Date and addressed to
the Administrative Agent and all Lenders, from: 
 (a) Simpson Thacher & Bartlett LLP, New York counsel to the
Borrower and each other Obligor, in form and substance satisfactory to the Administrative Agent; and 
 (b) Hunton &
Williams LLP, Virginia counsel to the Borrower, in form and substance satisfactory to the Administrative Agent. 
 SECTION 3.1.6. Fees and
Expenses, etc. The Administrative Agent shall have received all fees, costs and expenses due and payable pursuant to Section 11.3 of the Existing Credit Agreement or otherwise owing to a Lender in connection with the making of the Loans
contemplated by this Supplement. 
 SECTION 3.1.7. First Amendment to Existing Credit Agreement. Prior to, or contemporaneous with,
the effectiveness of this Supplement, the First Amendment to the Existing Credit Agreement, in form and substance satisfactory to the Sole Lead Arranger, shall have been executed and delivered by the requisite parties and all conditions precedent to
its effectiveness shall have been (or, contemporaneous with the effectiveness of this Supplement, will be) satisfied. 
 SECTION 3.2.
Delayed Draw Date. On the Delayed Draw Date, (a) the Affiliate Purchase shall be consummated simultaneously with the funding of the Delayed Draw Amount and (b) the Joint Lead Arrangers shall receive all fees, costs and expenses
owing to them, including, without limitation, pursuant to the terms of their fee letter with the Borrower, dated January 8, 2007. 
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
 To induce the Lenders and the Administrative Agent to enter into this Supplement, and to make the Term A-1 Loans and the Term B Loans on the Supplement Effective Date, the Borrower represents and warrants such Persons
as set forth below. 
 SECTION 4.1. Validity, etc. This Supplement (and the Existing Credit Agreement as supplemented hereby)
constitutes the legal, valid and binding obligation of the Borrower enforceable in accordance with its terms subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or
affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 
 SECTION 4.2. Representations and Warranties, etc. Both before and after giving effect to this Supplement, the representations and warranties
contained in Section 5.2.1 of the Existing 

  

 4 

 
Credit Agreement are true and correct in all material respects as of the date hereof with the same effect as if then made (unless stated to relate solely to
an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date). 
 SECTION 4.3. Liens Unimpaired. After giving effect to this Supplement and the incurrence of the Term A-1 Loans and the Term B Loans, neither the modification of the Existing Credit Agreement effected pursuant to this Supplement nor
the execution, delivery, performance or effectiveness of this Supplement and the incurrence of the Debt represented by the Term A-1 Loans and the Term B Loans: 
 (a) impairs the validity, effectiveness or priority of the Liens granted in favor of the Secured Parties pursuant to the Loan Documents,
and such Liens continue unimpaired with the same priority to secure repayment of all Obligations (including any Obligations arising in connection with the making of the Term A-1 Loans and the Term B Loans), whether heretofore or hereafter incurred;
or 
 (b) requires that any new filings be made or other action taken to perfect or to maintain the perfection of such Liens.

 ARTICLE V 
 MISCELLANEOUS

 SECTION 5.1. Cross-References. References in this Supplement to any Article or Section are, unless otherwise specified or otherwise
required by the context, to such Article or Section of this Supplement. 
 SECTION 5.2. Loan Document Pursuant to Existing Credit
Agreement. This Supplement is a Loan Document executed pursuant to the Existing Credit Agreement and shall be construed, administered and applied in accordance with all of the terms and provisions of the Existing Credit Agreement. 
 SECTION 5.3. Successors and Assigns. This Supplement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns; provided, however, that (a) the Borrower may not assign or transfer its rights or obligations hereunder without the prior written consent of the Administrative Agent and all Lenders; and (b) the rights
of sale, assignment and transfer of the Lenders are subject to Section 11.11 of the Existing Credit Agreement. 
 SECTION 5.4.
Counterparts. This Supplement may be executed by the parties hereto in several counterparts, each of which when executed and delivered shall be deemed to be an original and all of which together shall constitute but one and the same
agreement. Delivery of an executed counterpart of a signature page to this Supplement by facsimile shall be effective as delivery of a manually executed counterpart of this Supplement. 
 SECTION 5.5. Governing Law. THIS SUPPLEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK
(INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 
  

 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplement to be executed by their respective
officers thereunto duly authorized as of the date first above written. 
  

			
	WEIGHT WATCHERS INTERNATIONAL, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	THE BANK OF NOVA SCOTIA, as the Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	  
  

	[INSERT NAME OF LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 SCHEDULE II 
 COMMITMENTS AND PERCENTAGES 
 Term A-1 Loans – $700,000,000 (maximum principal amount) 
  

							
	 Term A-1 Loan Lender
	  	Commitment Amount	  	Percentage	 
	 Credit Suisse, Cayman Islands Branch
	  	$	111,750,000	  	15.9643	%
	 JPMorgan Chase Bank, N.A.
	  	$	51,750,000	  	7.3929	%
	 Amalgamated Bank
	  	$	10,000,000	  	1.4286	%
	 Bank of America, N.A.
	  	$	49,000,000	  	7.0000	%
	 Citibank, N.A.
	  	$	45,000,000	  	6.4286	%
	 Commerzbank AG, New York and Grand Cayman Branches
	  	$	15,000,000	  	2.1429	%
	 Cooperatieve Centrale Raiffeisen-Boerenleen Bank B.A. “Rabobank Nederland”, New York Branch
	  	$	20,000,000	  	2.8571	%
	 First Commercial Bank New York Agency
	  	$	6,500,000	  	0.9286	%
	 First Tennessee Bank National Association
	  	$	15,000,000	  	2.1429	%
	 Fortis Capital Corp.
	  	$	59,500,000	  	8.5000	%
	 KBC N.V., New York Branch
	  	$	20,000,000	  	2.8571	%
	 Mizuho Corporate Bank, Ltd.
	  	$	20,000,000	  	2.8571	%
	 Natixis Banques Populaires
	  	$	35,000,000	  	5.0000	%
	 National City Bank
	  	$	20,000,000	  	2.8571	%
	 North Fork Bank
	  	$	12,000,000	  	1.7143	%
	 PB Capital Corporation
	  	$	10,000,000	  	1.4286	%
	 Raymond James Bank, FSB
	  	$	24,000,000	  	3.4286	%

							
	 Term A-1 Loan Lender
	  	Commitment Amount	  	Percentage	 
	 Sovereign Bank
	  	$	25,000,000	  	3.5714	%
	 State Bank of India, NY
	  	$	5,500,000	  	0.7857	%
	 SunTrust Bank
	  	$	50,000,000	  	7.1429	%
	 TD Banknorth, N.A.
	  	$	25,000,000	  	3.5714	%
	 The Bank of Nova Scotia
	  	$	44,000,000	  	6.2857	%
	 The Governor and Company of the Bank of Ireland
	  	$	6,000,000	  	0.8571	%
	 United Overseas Bank Limited, New York Agency
	  	$	20,000,000	  	2.8571	%

 COMMITMENTS AND PERCENTAGES 
 Term B Loans – $500,000,000 (maximum principal amount) 
  

							
	 Term B Loan Lender
	  	Commitment Amount	  	Percentage	 
	 The Bank of Nova Scotia
	  	$	500,000,000	  	100	%

 EXHIBIT A 
 AFFIRMATION AND CONSENT 
 January 26, 2007 
 The Bank of Nova Scotia, 
   as Administrative Agent 
 -and - 
 Each of the Lenders party 
   to the Credit Agreement 
   referred to below

 WEIGHT WATCHERS INTERNATIONAL, INC. 
 Ladies and Gentlemen: 
 This Affirmation and Consent is delivered to you pursuant to Section 3.1.4 of the Supplement, dated as
of the date hereof (the “Supplement”), among Weight Watchers International, Inc., a Virginia corporation (the “Borrower”), the Lenders party thereto, Credit Suisse Securities (USA) LLC and JPMorgan Securities Inc.,
as Joint Bookrunners and Joint Lead Arrangers for the Term A-1 Loans and the Term B Loans, and The Bank of Nova Scotia, as the Administrative Agent for the Lenders, to the Sixth Amended and Restated Credit Agreement, dated as of May 8, 2006 (as
amended on or prior to the date hereof and as further amended, supplemented, amended and restated or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the Lenders party thereto and the Agents. Terms
not otherwise defined herein have the meaning assigned to such term in the Credit Agreement. 
 By its signature below, each of the
undersigned (each a “Signatory”) hereby acknowledges, consents and agrees to the modification of the Credit Agreement pursuant to the terms and provisions set forth in the Supplement. 
 Each Signatory acknowledges that the Borrower has incurred (or may incur) up to $700,000,000 of additional Debt in the form of Term A-1 Loans and up to
$500,000,000 of additional Debt in the form of Term B Loans (collectively with all fees, interest and expenses related thereto, the “New Obligations”). Also, each Signatory hereby reaffirms, as of the Supplement Effective Date (as
defined in the Supplement), (i) the covenants and agreements contained in each Loan Document to which it is a party, including as such covenants and agreements may be modified by the Supplement, (ii) its guarantee of payment of the
Obligations (including, without limitation, the New Obligations) pursuant to the applicable Guaranty, and (iii) its pledges and other grants of Liens in respect of the Obligations (including, without limitation, the New Obligations) pursuant to
the applicable Loan Documents to which such Signatory is a party. 
  

 Each Signatory hereby represents and warrants that, immediately before and after giving effect to the
Supplement, (i) no Default has occurred and is continuing, and (ii) each Loan Document, to which it is a party continues to be a legal, valid and binding obligation of the undersigned, enforceable against such party in accordance with
their respective terms (except, in any case, as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally and by principles of equity). 
 Each Signatory further confirms that each Loan Document, to which it is a party, is and shall continue to be in full force and effect and the same are
hereby ratified and confirmed in all respects, except that upon the occurrence of the Supplement Effective Date, all references in such Loan Documents to the “Credit Agreement”, “Loan Documents”, “thereunder”,
“thereof”, or words of similar import shall mean the Credit Agreement and the other Loan Documents, as the case may be, in each case after giving effect to the Supplement. 
 Each Signatory hereby acknowledges and agrees that the acceptance by the Administrative Agent and each Lender of this document shall not be construed in
any manner to establish (or indicate) any course of dealing on the Administrative Agent’s or any Lender’s part, including the providing of any notice or the requesting of any acknowledgment not otherwise expressly provided for in any Loan
Document with respect to any future amendment, waiver, supplement or other modification to any Loan Document or any arrangement contemplated by any Loan Document. 
 This Affirmation and Consent is a Loan Document executed pursuant to the Credit Agreement and shall be construed, administered and applied in accordance with all of the terms and provisions of the Credit Agreement.
This Affirmation and Consent shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 THIS AFFIRMATION AND CONSENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSES SECTION 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW
YORK). 
 This Affirmation and Consent may be executed in any number of counterparts by the parties hereto, each of which counterparts
when so executed shall be an original, but all the counterparts shall together constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Affirmation and Consent by facsimile shall be effective as delivery
of a manually executed counterpart of this Affirmation and Consent. 
  

 A-2 

 IN WITNESS WHEREOF, each of the undersigned has executed and delivered this Affirmation and Consent as of
the date first above written. 
  

			
	WAIST WATCHERS, INC.
	WEIGHT WATCHERS DIRECT, INC.
	WEIGHT WATCHERS NORTH AMERICA, INC.
	W/W TWENTYFIRST CORPORATION
	W.W. WEIGHT REDUCTION SERVICES, INC.
	W.W.I. EUROPEAN SERVICES, LTD
	W.W. INVENTORY SERVICE CORP.
	58 WW FOOD CORP.
	WEIGHT WATCHERS CAMPS, INC.
	W.W. CAMPS AND SPAS, INC.
		
	By:	 	  

	Title:	 	
		 	
	WW FUNDING CORP.
		
	By:	 	  

	Title:	 	

  

 A-3

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