Document:

Exhibit 10.10

 Exhibit 10.10 
 Baltimore County Savings Bank 
 Deferred Compensation Plan 
 Master Plan Document 

 BEST PRACTICES SAMPLE FORM

 (Use Only After Consulting With Tax And Legal Advisor) 
 BALTIMORE COUNTY SAVINGS BANK, F.S.B. 
 AMENDED AND RESTATED 
 DEFERRED
COMPENSATION PLAN 
 Effective October 1, 2004 
 Copyright © 2004 
 By Clark Consulting, Inc. 
 Clark
Consulting – Banking Practice 
 All Rights Reserved 
  

 Baltimore County Savings Bank 
 Deferred Compensation Plan 
 Master Plan Document 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE 1	  	Definitions	  	1
			
	ARTICLE 2	  	Selection, Enrollment, Eligibility	  	6
	2.1	  	Selection by Committee	  	6
	2.2	  	Enrollment Requirements	  	7
	2.3	  	Eligibility; Commencement of Participation	  	7
	2.4	  	Termination of Participation and/or Deferrals	  	7
			
	ARTICLE 3	  	Deferral Commitments/Retirement Credit Amounts/401(k) Restoration Matching Amounts/Vesting/Crediting/Taxes	  	7
	3.1	  	Minimum Deferrals	  	7
	3.2	  	Maximum Deferral	  	8
	3.3	  	Election to Defer; Effect of Election Form	  	8
	3.4	  	Withholding and Crediting of Annual Deferral Amounts	  	8
	3.5	  	Rollover Amount	  	9
	3.6	  	Retirement Credit Amount	  	9
	3.7	  	401(k) Restoration Matching Amount	  	9
	3.8	  	Vesting	  	9
	3.9	  	Crediting/Debiting of Account Balances	  	10
	3.10	  	FICA and Other Taxes	  	13
			
	ARTICLE 4	  	Deduction Limitation	  	13
	4.1	  	Deduction Limitation on Benefit Payments	  	13
			
	ARTICLE 5	  	In-Service Distribution; Unforeseeable Financial Emergencies; Withdrawal Election	  	14
	5.1	  	In-Service Distribution	  	14
	5.2	  	Other Benefits Take Precedence Over In-Service Distributions	  	14
	5.3	  	Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies	  	14
	5.4	  	Withdrawal Election	  	15
			
	ARTICLE 6	  	Change In Control Benefit	  	15
	6.1	  	Change in Control Benefit	  	15
	6.2	  	Payment of Change in Control Benefit	  	15
			
	ARTICLE 7	  	Retirement Benefit	  	16
	7.1	  	Retirement Benefit	  	16

  

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 Deferred Compensation Plan 
 Master Plan Document 

					
	7.2	  	Payment of Retirement Benefit	  	16
			
	ARTICLE 8	  	Termination Benefit	  	16
	8.1	  	Termination Benefit	  	16
	8.2	  	Payment of Termination Benefit	  	16
			
	ARTICLE 9	  	Disability Waiver and Benefit	  	16
	9.1	  	Disability Waiver	  	16
	9.2	  	Continued Eligibility; Disability Benefit	  	17
			
	ARTICLE 10	  	Survivor Benefit	  	18
	10.1	  	Survivor Benefit	  	18
	10.2	  	Payment of Survivor Benefit	  	18
			
	ARTICLE 11	  	Beneficiary Designation	  	18
	11.1	  	Beneficiary	  	18
	11.2	  	Beneficiary Designation; Change of Beneficiary Designation; Spousal Consent	  	18
	11.3	  	Acknowledgement	  	18
	11.4	  	No Beneficiary Designation	  	18
	11.5	  	Doubt as to Beneficiary	  	19
	11.6	  	Discharge of Obligations	  	19
			
	ARTICLE 12	  	Leave of Absence	  	19
	12.1	  	Paid Leave of Absence	  	19
	12.2	  	Unpaid Leave of Absence	  	19
			
	ARTICLE 13	  	Termination, Amendment or Modification	  	19
	13.1	  	Termination	  	19
	13.2	  	Amendment	  	20
	13.3	  	Plan Agreement	  	20
	13.4	  	Effect of Payment	  	20
			
	ARTICLE 14	  	Administration	  	21
	14.1	  	Committee Duties	  	21
	14.2	  	Administration Upon Change In Control	  	21
	14.3	  	Agents	  	22
	14.4	  	Binding Effect of Decisions	  	22
	14.5	  	Indemnity of Committee	  	22

  

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 Deferred Compensation Plan 
 Master Plan Document 

					
	14.6	  	Employer Information	  	22
			
	ARTICLE 15	  	Other Benefits and Agreements	  	22
	15.1	  	Coordination with Other Benefits	  	22
			
	ARTICLE 16	  	Claims Procedures	  	22
	16.1	  	Presentation of Claim	  	22
	16.2	  	Notification of Decision	  	22
	16.3	  	Review of a Denied Claim	  	23
	16.4	  	Decision on Review	  	23
	16.5	  	Legal Action	  	24
			
	ARTICLE 17	  	Trust	  	24
	17.1	  	Establishment of the Trust	  	24
	17.2	  	Interrelationship of the Plan and the Trust	  	24
	17.3	  	Distributions From the Trust	  	24
			
	ARTICLE 18	  	Miscellaneous	  	24
	18.1	  	Status of Plan	  	24
	18.2	  	Unsecured General Creditor	  	25
	18.3	  	Employer’s Liability	  	25
	18.4	  	Nonassignability	  	25
	18.5	  	Not a Contract of Employment	  	25
	18.6	  	Furnishing Information	  	25
	18.7	  	Terms	  	25
	18.8	  	Captions	  	25
	18.9	  	Governing Law	  	26
	18.10	  	Notice	  	26
	18.11	  	Successors	  	26
	18.12	  	Spouse’s Interest	  	26
	18.13	  	Validity	  	26
	18.14	  	Incompetent	  	26
	18.15	  	Court Order	  	26
	18.16	  	Distribution in the Event of Taxation	  	27
	18.17	  	Insurance	  	27
	18.18	  	Legal Fees To Enforce Rights After Change in Control	  	27
	18.19	  	Limitations on Numbers and Issuance of Shares, Annual Cost	  	28
	18.20	  	Limitations on Issuance of Common Stock	  	28

  

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 Baltimore County Savings Bank 
 Deferred Compensation Plan 
 Master Plan Document 

 BALTIMORE COUNTY SAVINGS BANK 
 DEFERRED COMPENSATION PLAN 
 THIS PLAN, effective this 1st day of October, 2004, amends and restates the Baltimore County Savings Bank, F.S.B. Deferred Compensation Plan, dated October 22, 1997, as amended
September 19, 2001, and the Baltimore County Savings Bank, F.S.B. Cash Deferred Compensation Plan, dated September 28, 2001. 
 Purpose 
 The purpose of this Plan is to provide specified benefits to a select group of management or highly
compensated Employees and Directors who contribute materially to the continued growth, development and future business success of Baltimore County Savings Bank, a federally-chartered savings bank, and its subsidiaries, if any, that sponsor this
Plan. This Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA. This Deferred Compensation Plan supersedes in its entirety the Baltimore County Savings Bank, F.S.B. Deferred Compensation Plan, dated October 22, 1997
(previously established in 1995 as a Director Retirement Plan and currently known as the “Prior Plan”), as amended September 19, 2001, and the Baltimore County Savings Bank, F.S.B. Cash Deferred Compensation Plan, dated
September 28, 2001 (hereinafter, the “Predecessor Plan”) for any and all participants in the Predecessor Plan who are actively employed by any Employer as of the effective date of this Plan; provided, however, that all other
participants in the Predecessor Plan will continue to be participants in such Predecessor Plan and will have no rights under this Plan. Any and all balances accrued by such actively employed participants under the Predecessor Plan shall be subject
to the terms and conditions of this Plan and shall be referred to as the “Rollover Amount.” 
 ARTICLE 1 
 Definitions 
 For the purposes
of this Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings: 
  

	1.1	“401(k) Plan” shall mean the “Baltimore County Savings Bank 401(k) Retirement Plan.” 

  

	1.2	“401(k) Restoration Matching Account” shall mean (i) the sum of all of a Participant’s 401(k) Restoration Matching Amounts, plus (ii) amounts credited
(earnings, contributions, etc.) or debited (deemed losses, distributions, etc.) to the Participant’s 401(k) Restoration Matching Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her
Beneficiary pursuant to this Plan that relate to the Participant’s 401(k) Restoration Matching Account, less amounts debited (deemed losses, distributions, etc.) from the Participant’s 401(k) Restoration Matching Account in accordance with
this Plan. 

  

	1.3	“401(k) Restoration Matching Amount” for any one Plan Year shall be the amount determined in accordance with Section 3.7. 

  

	1.4	 “Account Balance” shall mean, with respect to a Participant, a credit on the records of the Employer equal to the sum of (i) the Deferral Account
balance; and (ii) the Retirement Credit Account balance; and (iii) the 401(k) Restoration Matching Account balance. The Account 

  

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 Deferred Compensation Plan 
 Master Plan Document 

  

	 	 
Balance, and each other specified account balance, shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and
determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan. 

  

	1.5	“Annual Deferral Amount” shall mean that portion of a Participant’s Base Salary, Bonus, and Director Fees that a Participant defers in accordance with Article 3
for any one Plan Year. In the event of a Participant’s Retirement, Disability (if deferrals cease in accordance with Section 9.1), death or a Termination of Employment prior to the end of a Plan Year, such year’s Annual Deferral
Amount shall be the actual amount withheld prior to such event. 

  

	1.6	“Annual Installment Method” shall be an annual installment payment over the number of years selected by the Participant in accordance with this Plan, calculated as
follows: (i) for the first annual installment, the vested Account Balance of the Participant shall be calculated as of the close of business on or around the last business day of the Plan Year in which the Participant Retires or is deemed to
have Retired in accordance with Section 9.2(c), as determined by the Committee in its sole discretion, and (ii) for remaining annual installments, the vested Account Balance of the Participant shall be calculated on every applicable
anniversary of the last business day of the Plan Year in which the Participant Retires or is deemed to have Retired in accordance with Section 9.2(c). Each annual installment shall be calculated by multiplying this balance by a fraction, the
numerator of which is one and the denominator of which is the remaining number of annual payments due the Participant. By way of example, if the Participant elects a ten (10) year Annual Installment Method, the first payment shall be 1/10 of
the vested Account Balance, calculated as described in this definition. The following year, the payment shall be 1/9 of the vested Account Balance, calculated as described in this definition. 

  

	1.7	“Base Salary” shall mean the annual cash compensation relating to services performed during any calendar year, excluding distributions from nonqualified deferred
compensation plans, bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, director fees and other fees, and automobile and other allowances paid to a Participant for employment
services rendered (whether or not such allowances are included in the Employee’s gross income). Base Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified
or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer;
provided, however, that all such amounts will be included in compensation only to the extent that had there been no such plan, the amount would have been payable in cash to the Employee. 

  

	1.8	“Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated in accordance with Article 11, that are entitled to receive benefits under
this Plan upon the death of a Participant. 

  

	1.9	“Beneficiary Designation Form” shall mean the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to
designate one or more Beneficiaries. 

  

	1.10	“Board” shall mean the board of directors of the Company. 

  

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 Deferred Compensation Plan 
 Master Plan Document 

  

	1.11	“Bonus” shall mean any compensation, in addition to Base Salary, earned by a Participant for services rendered during a Plan Year, under any Employer’s annual bonus
and cash incentive plans, excluding stock options. 

  

	1.12	“Change in Control” shall mean the first to occur of any of the following events: 

  

	 	(a)	When the Bank is in the “mutual” form of organization, a “Change in Control” shall be deemed to have occurred if: (i) as a result of, or in connection with,
any exchange offer, merger or other business combination, sale of assets or contested election, any combination of the foregoing transactions, or any similar transaction, the persons who were Directors of the Bank before such transaction cease to
constitute a majority of the Board of Directors of the Bank or any successor to the Bank, (ii) the Bank transfers substantially all of its assets to another corporation which is not an Affiliate of the Bank, (iii) the Bank sells
substantially all of the assets of an Affiliate which accounted for 50% or more of the controlled group’s assets immediately prior to such sale, (iv) any “person” including a “group,” exclusive of the Board of Directors
of the Bank or any committee thereof, is or becomes the “beneficial owner,” directly or indirectly, of proxies of the Bank representing twenty-five percent (25%) or more of the combined voting power of the Bank’s members, or
(v) the Bank is merged or consolidated with another corporation and, as a result of the merger or consolidation, less than seventy percent (70%) of the outstanding proxies relating to the surviving or resulting corporation are given, in
the aggregate, by the former members of the Bank. 

  

	 	(b)	If the Bank shall be in the “Stock” form of organization, a “Change in Control” shall mean any one of the following events: (i) the acquisition of
ownership, holding or power to vote more than 25% of the voting stock of the Bank or the Company thereof, (ii) the acquisition of the ability to control the election of a majority of the Bank’s or the Company’s Directors,
(iii) the acquisition of a controlling influence over the management or policies of the Bank or of the Company by any person or by persons acting as a “group” (within the meaning of Section 13(d) of the Securities Exchange Act of
1934), or (iv) during any period of two consecutive years, individuals (the “Continuing Directors”) who at the beginning of such period constitute the Board of Directors of the Bank or of the Company (the “Existing Board”)
cease for any reason to constitute at least two-thirds thereof, provided that any individual whose election or nomination for election as a member of the Existing Board was approved by a vote of at least two-thirds of the Continuing Directors then
in office shall be considered a Continuing Director. For purposes of this paragraph only, the term “person” refers to an individual or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship,
unincorporated organization or any other form of entity not specifically listed herein; 

  

	 	(c)	Notwithstanding the foregoing, a “Change in Control” shall not be deemed to occur solely by reason of a transaction in which the Bank converts from a Mutual Holding
Company form of ownership to a 100% stock form of ownership, or creates an independent holding company in connection therewith. The decision of the Board as to whether a Change in Control has occurred shall be conclusive and binding.

  

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 Deferred Compensation Plan 
 Master Plan Document 

  

	1.13	“Change in Control Benefit” shall have the meaning set forth in Article 6. 

  

	1.14	“Claimant” shall have the meaning set forth in Section 16.1. 

  

	1.15	“Code” shall mean the Internal Revenue Code of 1986, as it may be amended from time to time. 

  

	1.16	“Committee” shall mean the committee described in Article 14. 

  

	1.17	“Company” shall mean Baltimore County Savings Bank, F.S.B., a federally-chartered savings bank, and any successor to all or substantially all of the Company’s assets
or business. 

  

	1.18	“Deduction Limitation” shall mean the limitation on a benefit that may otherwise be distributable pursuant to the provisions of this Plan, as set forth in Article 4.

  

	1.19	“Deferral Account” shall mean (i) that portion of a Participant’s Rollover Amount which is represented by the Participant’s aggregate deferral contributions
described in the Predecessor Plan, as well as any appreciation (or depreciation) specifically attributable to such deferral contributions accumulated under the Predecessor Plan, plus (ii) the sum of all of a Participant’s Annual Deferral
Amounts, plus (iii) amounts credited or debited to the Participant’s Deferral Account in accordance with this Plan, less (iv) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to his
or her Deferral Account. 

  

	1.20	“Director” shall mean any member of the board of directors of any Employer. 

  

	1.21	“Director Fees” shall mean the annual fees paid by any Employer, including retainer fees, meetings fees, and any bonus amounts paid as compensation for serving on the
board of directors. 

  

	1.22	“Disability” or “Disabled” shall mean (a) the Participant’s suffering a sickness, accident or injury which has been determined by the carrier of any
individual or group disability insurance policy covering the Participant, or by the Social Security Administration, to be a disability rendering the Participant totally and permanently disabled. The Participant must submit proof to the Plan
Administrator of the carrier’s or Social Security Administration’s determination upon the request of the Plan Administrator; or (b) such definition of Disability as defined by the Secretary of the Treasury, in which case such
definition shall supersede any other definition of Disability in this Plan and shall control the terms of this Plan. 

  

	1.23	“Disability Benefit” shall mean the benefit set forth in Article 9. 

  

	1.24	“Election Form” shall mean the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election
under the Plan. 

  

	1.25	“Employee” shall mean a person who is an employee of any Employer. 

  

	1.26	“Employer(s)” shall mean the Company and/or any of its subsidiaries (now in existence or hereafter formed or acquired) that have been selected by the Board to participate
in the Plan and have adopted the Plan as a sponsor. 

  

	1.27	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as it may be amended from time to time. 

  

	1.28	“401(k) Plan” shall be that certain Baltimore County Savings Bank, F.S.B. 401(k) Retirement Plan, dated January 30, 2003, adopted by the Company.

  

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 Deferred Compensation Plan 
 Master Plan Document 

  

	1.29	“In-Service Distribution” shall mean the distribution set forth in Section 5.1. 

  

	1.30	“Participant” shall mean any Employee or Director (i) who is selected to participate in the Plan, (ii) who elects to participate in the Plan, (iii) who
signs a Plan Agreement, an Election Form and a Beneficiary Designation Form, (iv) whose signed Plan Agreement, Election Form and Beneficiary Designation Form are accepted by the Committee, (v) who commences participation in the Plan, and
(vi) whose Plan Agreement has not terminated. A spouse or former spouse of a Participant shall not be treated as a Participant in the Plan or have an account balance under the Plan, even if he or she has an interest in the Participant’s
benefits under the Plan as a result of applicable law or property settlements resulting from legal separation or divorce. 

  

	1.31	“Plan” shall mean the Baltimore County Savings Bank, F.S.B. Deferred Compensation Plan, which shall be evidenced by this instrument and by each Plan Agreement, as they may
be amended from time to time. 

  

	1.32	“Plan Agreement” shall mean a written agreement, as may be amended from time to time, which is entered into by and between an Employer and a Participant. Each Plan
Agreement executed by a Participant and the Participant’s Employer shall provide for the entire benefit to which such Participant is entitled under the Plan; should there be more than one Plan Agreement, the Plan Agreement bearing the latest
date of acceptance by the Employer shall supersede all previous Plan Agreements in their entirety and shall govern such entitlement. The terms of any Plan Agreement may be different for any Participant, and any Plan Agreement may provide additional
benefits not set forth in the Plan or limit the benefits otherwise provided under the Plan; provided, however, that any such additional benefits or benefit limitations must be agreed to by both the Employer and the Participant.

  

	1.33	“Plan Year” shall mean a period beginning on October 1 of each calendar year and continuing through September 30 of such calendar year. 

 

	1.34	“Retirement”, “Retire(s)” or “Retired” shall mean, with respect to an Employee, severance from employment from all Employers for any reason other than
a leave of absence, death or Disability on or after the attainment of age sixty-five (65); and shall mean with respect to a Director who is not an Employee, severance of his or her directorships with all Employers on or after the later of
(y) the attainment of age seventy (72), or (z) in the sole discretion of the Committee, an age later than age seventy (72), but not to exceed age seventy-five (75). If a Participant is both an Employee and a Director, Retirement shall not
occur until he or she Retires as both an Employee and a Director, which Retirement shall be deemed to be a Retirement as a Director; provided, however, that such a Participant may elect, at least three years prior to Retirement and in accordance
with the policies and procedures established by the Committee, to Retire for purposes of this Plan at the time he or she Retires as an Employee, which Retirement shall be deemed to be a Retirement as an Employee. 

  

	1.35	“Retirement Benefit” shall mean the benefit set forth in Article 7. 

  

	1.36	 “Retirement Credit Account” shall mean (i) that portion of a Participant’s Rollover Amount which is represented by the Participant’s
aggregate company discretionary Retirement contributions described in Article 2 of the Predecessor Plan, as well as any appreciation (or depreciation) specifically attributable to such discretionary contributions accumulated under the 

  

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 Deferred Compensation Plan 
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Predecessor Plan, plus (ii) the sum of the Participant’s Retirement Credit Amounts, plus (iii) amounts credited or debited to the
Participant’s Retirement Credit Account in accordance with this Plan, less (iv) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Retirement Credit Account.

  

	1.37	“Retirement Credit Amount” shall mean, for any one Plan Year, the amount determined in accordance with Section 3.6. 

  

	1.38	“Rollover Amount” shall mean the amount determined in accordance with Section 3.5. 

  

	1.39	“Stock” or “Common Stock” shall mean BCSB Bankcorp, Inc. common stock, $.01 par value, or any other equity securities of the Company designated by the Committee.

  

	1.40	“Survivor Benefit” shall mean the benefit set forth in Article 10. 

  

	1.41	“Termination Benefit” shall mean the benefit set forth in Article 8. 

  

	1.42	“Termination of Employment” shall mean the severing of employment with all Employers, or service as a Director of all Employers, voluntarily or involuntarily, for any
reason other than Retirement, Disability, death or an authorized leave of absence. If a Participant is both an Employee and a Director, a Termination of Employment shall occur only upon the termination of the last position held; provided, however,
that such a Participant may elect, at least three years before Termination of Employment and in accordance with the policies and procedures established by the Committee, to be treated for purposes of this Plan as having experienced a Termination of
Employment at the time he or she ceases employment with an Employer as an Employee. 

  

	1.43	“Trust” shall mean one or more trusts established by the Company in accordance with Article 17. 

  

	1.44	“Unforeseeable Financial Emergency” shall mean a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the
Participant, the Participant’s spouse, or a dependent (as defined in Section 152(a) of the Code) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the Participant. 

  

	1.45	“Years of Service” shall mean the total number of full years in which a Participant has been employed by one or more Employers. For purposes of this definition, a year of
employment shall be a 365 day period (or 366 day period in the case of a leap year) that, for the first year of employment, commences on the Employee’s date of hiring and that, for any subsequent year, commences on an anniversary of that hiring
date. The Committee shall make a determination as to whether any partial year of employment shall be counted as a Year of Service. 

 ARTICLE 2 
 Selection, Enrollment, Eligibility 
  

	2.1	Selection by Committee. Participation in the Plan shall be limited to a select group of management and highly compensated Employees and Directors of the Employer, as
determined by the Committee in its sole discretion. From that group, the Committee shall select, in its sole discretion, Employees and Directors to participate in the Plan. 

  

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 Deferred Compensation Plan 
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	2.2	Enrollment Requirements. As a condition to participation, each selected Employee or Director shall complete, execute and return to the Committee a Plan Agreement, an
Election Form and a Beneficiary Designation Form, all within thirty (30) days after he or she is selected to participate in the Plan. In addition, the Committee shall establish from time to time such other enrollment requirements as it
determines in its sole discretion are necessary. 

  

	2.3	Eligibility; Commencement of Participation. Provided an Employee or Director selected to participate in the Plan has met all enrollment requirements set forth in this
Plan and required by the Committee, including returning all required documents to the Committee within the specified time period, that Employee or Director shall commence participation in the Plan on the first day of the month following the month in
which the Employee or Director completes all enrollment requirements. If an Employee or a Director fails to meet all such requirements within the period required, in accordance with Section 2.2, that Employee or Director shall not be eligible
to participate in the Plan until the first day of the Plan Year following the delivery to and acceptance by the Committee of the required documents. 

  

	2.4	Termination of Participation and/or Deferrals. If the Committee determines in good faith that a Participant no longer qualifies as a member of a select group of
management or highly compensated employees, as membership in such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Committee shall have the right, in its sole discretion, to (i) terminate any
deferral election the Participant has made for the remainder of the Plan Year in which the Participant’s membership status changes, (ii) prevent the Participant from making future deferral elections and/or (iii) immediately distribute
the Participant’s then vested Account Balance as a Termination Benefit and terminate the Participant’s participation in the Plan. 

 ARTICLE 3 
 Deferral Commitments/Retirement Credit Amounts/401(k) Restoration Matching 

 Amounts/Vesting/Crediting/Taxes 
  

	3.1	Minimum Deferrals. 

  

	 	(a)	Annual Deferral Amount. For each Plan Year, a Participant may elect to defer, as his or her Annual Deferral Amount, Base Salary, Bonus, and/or Director Fees in the
following minimum amounts for each deferral elected: 

  

			
	 Deferral Type
	 	 Minimum Allowed

	 Director Fees (includes retainer, meeting fees, bonus)
	 	0%
	 Base Salary
	 	5%
	 Employee Bonus
	 	10%

 If an election is made for less than the stated minimum amounts, or if no election is made, the
amount deferred shall be zero. 
  

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 Deferred Compensation Plan 
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	 	(b)	Short Plan Year. Notwithstanding the foregoing, if a Participant first becomes a Participant after the first day of a Plan Year, the minimum Annual Deferral Amount
shall be an amount equal to the minimum set forth above, multiplied by a fraction, the numerator of which is the number of complete months remaining in the Plan Year and the denominator of which is 12. 

  

	3.2	Maximum Deferral. 

  

	 	(a)	Annual Deferral Amount. For each Plan Year, a Participant may elect to defer, as his or her Annual Deferral Amount, Base Salary, Bonus, and/or Director Fees up to the
following maximum percentages for each deferral elected: 

  

			
	 Deferral Type
	 	 Maximum Allowed

	 Director Fees (includes retainer, meeting fees, bonus)
	 	100%
	 Base Salary
	 	25%
	 Employee Bonus
	 	100%

  

	 	(b)	Short Plan Year. Notwithstanding the foregoing, if a Participant first becomes a Participant after the first day of a Plan Year, the maximum Annual Deferral Amount
(i) with respect to Base Salary and Director Fees shall be limited to the amount of compensation not yet earned by the Participant as of the date the Participant submits a Plan Agreement and Election Form to the Committee for acceptance, and
(ii) with respect to Bonus, shall be limited to those amounts deemed eligible for deferral, in the sole discretion of the Committee. 

  

	3.3	Election to Defer; Effect of Election Form. 

  

	 	(a)	First Plan Year. In connection with a Participant’s commencement of participation in the Plan, the Participant shall make an irrevocable deferral election for the
Plan Year in which the Participant commences participation in the Plan, along with such other elections as the Committee deems necessary or desirable under the Plan. For these elections to be valid, the Election Form must be completed and signed by
the Participant, timely delivered to the Committee (in accordance with Section 2.2 above) and accepted by the Committee. 

  

	 	(b)	Subsequent Plan Years. For each succeeding Plan Year, an irrevocable deferral election for that Plan Year, and such other elections as the Committee deems necessary or
desirable under the Plan, shall be made by timely delivering a new Election Form to the Committee, in accordance with its rules and procedures, before the end of the Plan Year preceding the Plan Year for which the election is made. If no such
Election Form is timely delivered for a Plan Year, the Annual Deferral Amount shall be zero for that Plan Year. 

  

	3.4	 Withholding and Crediting of Annual Deferral Amounts. For each Plan Year, the Base Salary portion of the Annual Deferral Amount shall be withheld from
each regularly scheduled Base Salary payroll in equal amounts, as adjusted from time to time for increases and decreases 

  

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in Base Salary. The Bonus and/or Director Fees portion of the Annual Deferral Amount shall be withheld at the time the Bonus or Director Fees are or
otherwise would be paid to the Participant, whether or not this occurs during the Plan Year itself. Annual Deferral Amounts shall be credited to a Participant’s Deferral Account at the time such amounts would otherwise have been paid to the
Participant. 

  

	3.5	Rollover Amount. With respect to Participants who participated in the Predecessor Plan and who are active Employees or Directors as of the effective date of this Plan,
an amount equal to their “account” as set forth in such Predecessor Plan, valued as of the effective date of this Plan, shall be the Rollover Amount. The Rollover Amount shall be comprised of elective deferrals, company contributions
(Retirement Credits), and restoration matching amounts accumulated under the Predecessor Plan, and shall retain their character as such under this Plan. Such Rollover Amount shall be credited to the Participant’s Deferral Account, Retirement
Credit Account and 401(k) Restoration Matching Account, as applicable, under this Plan on the effective date of this Plan and shall be subject to the terms and conditions of this Plan. Any Participant with a Rollover Amount shall have no right to
demand distribution of such amounts other than as specifically provided for herein; provided, however, that any “in-service distribution” elections made by the Participant under the Predecessor Plan shall apply to the Rollover Amount under
this Plan. The portion of the Rollover Amount credited with interest based on a one-year certificate of deposit shall be reallocated to Measurement Funds according to Section 3.9(d) herein. 

  

	3.6	Retirement Credit Amount. On each September 30, beginning with the year 1998, each Participant who is a Director on such date and who has between three and 12
Years of Service as a Board Director, shall have his or her Retirement Credit Account credited with $6,222, which amount shall be for that Participant the Retirement Credit Amount for that Plan Year. No Participant may receive more than 12 years of
credits to his or her Retirement Credit Account. A Participant who, after the Effective Date, first completes three Years of Service as a Director, shall have his or her Retirement Credit Account credited with $24,000 on the September 30
following completion of three Years of Service. 

  

	3.7	401(k) Restoration Matching Amount. A Participant’s 401(k) Restoration Matching Amount for any Plan Year shall be equal to (i) the “match” provided
in the 401(k) Plan that the Company would have credited to the Participant on the amount of Base Salary deferred into this Plan for such Plan Year had such Base Salary deferral been contributed to the 401(k) Plan, without regard to any qualified
plan limits that would otherwise apply to the 401(k) Plan, reduced by (ii) the amount of the “match” the Company makes to the Participant during such Plan Year under the 401(k) Plan. The amount so credited to a Participant under this
Plan shall be for that Participant the 401(k) Restoration Matching Amount for that Plan Year and shall be credited to the Participant’s 401(k) Restoration Matching Account on a date or dates to be determined by the Committee, in its sole
discretion. 

  

	3.8	Vesting. 

  

	 	(a)	A Participant shall at all times be 100% vested in his or her Deferral Account and Retirement Credit Account. 

  

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	 	(b)	A Participant shall be vested in his or her 401(k) Restoration Matching Account only to the extent that the Participant would be vested in such amounts under the provisions of the
401(k) Plan, as determined by the Committee in its sole discretion, according to the following schedule: 

  

			
	 Years of Service
	 	 Percent Vested

	 Less than 2
	 	0%
	 2-3
	 	20%
	 3-4
	 	40%
	 4-5
	 	60%
	 5-6
	 	80%
	 6 or more
	 	100%

  

	 	(c)	Notwithstanding anything to the contrary contained in this Section 3.8, in the event of a Change in Control, or upon a Participant’s Retirement, death while employed by an
Employer, or Disability, a Participant’s 401(k) Restoration Matching Account shall immediately become 100% vested (if it is not already vested in accordance with the above vesting schedules.) 

  

	 	(d)	Notwithstanding subsection 3.80 above, the vesting schedule for a Participant’s 401(k) Restoration Matching Account shall not be accelerated upon a Change in Control to the
extent that the Committee determines that such acceleration would cause the deduction limitations of Section 280G of the Code to become effective. In the event that all of a Participant’s 401(k) Restoration Matching Account is not vested
pursuant to such a determination, the Participant may request independent verification of the Committee’s calculations with respect to the application of Section 280G. In such case, the Committee must provide to the Participant within
ninety (90) days of such a request an opinion from a nationally recognized accounting firm selected by the Participant (the “Accounting Firm”). The opinion shall state the Accounting Firm’s opinion that any limitation in the
vested percentage hereunder is necessary to avoid the limits of Section 280G and contain supporting calculations. The cost of such opinion shall be paid for by the Company. 

  

	 	(e)	Section 3.8(c) shall not prevent the acceleration of the vesting schedule applicable to a Participant’s 401(k) Restoration Matching Account if such Participant is entitled
to a “gross-up” payment, to eliminate the effect of the Code section 4999 excise tax, pursuant to his or her employment agreement or other agreement entered into between such Participant and the Employer. 

  

	3.9	Crediting/Debiting of Account Balances. In accordance with, and subject to, the rules and procedures that are established from time to time by the Committee, in its
sole discretion, amounts shall be credited or debited to a Participant’s Account Balance in accordance with the following rules: 

  

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	 	(a)	Measurement Funds. Subject to the restrictions found in Section 3.9(c) below, the Participant may elect one or more of the measurement funds selected by the
Committee, in its sole discretion, which are based on certain mutual funds (the “Measurement Funds”), for the purpose of crediting or debiting additional amounts to his or her Account Balance. As necessary, the Committee may, in its sole
discretion, discontinue, substitute or add a Measurement Fund. Each such action will take effect as of the first day of the first calendar quarter that begins at least thirty (30) days after the day on which the Committee gives Participants
advance written notice of such change. 

  

	 	(b)	Election of Measurement Funds. Subject to the restrictions found in Section 3.9(c) below, a Participant, in connection with his or her initial deferral election
in accordance with Section 3.3(a) above, shall elect, on the Election Form, one or more Measurement Fund(s) (as described in Section 3.9(a) above) to be used to determine the amounts to be credited or debited to his or her Account Balance.
If a Participant does not elect any of the Measurement Funds as described in the previous sentence, the Participant’s Account Balance shall automatically be allocated into the lowest-risk Measurement Fund, as determined by the Committee, in its
sole discretion. Subject to the restrictions found in Section 3.9(c) below, the Participant may (but is not required to) elect, by submitting an Election Form to the Committee that is accepted by the Committee, to add or delete one or more
Measurement Fund(s) to be used to determine the amounts to be credited or debited to his or her Account Balance, or to change the portion of his or her Account Balance allocated to each previously or newly elected Measurement Fund. If an election is
made in accordance with the previous sentence, it shall apply as of the first business day deemed reasonably practicable by the Committee, in its sole discretion, and shall continue thereafter for each subsequent day in which the Participant
participates in the Plan, unless changed in accordance with the previous sentence. 

  

	 	(c)	BCSB Bankcorp, Inc. Stock Fund.  

  

	 	(i)	BCSB Bankcorp, Inc. Stock Fund. No portion of the Participant’s Account Balance can be either initially allocated or re-allocated to the BCSB Bankcorp, Inc. Stock Fund.
Deferrals that were allocated to the BCSB Bankcorp, Inc. Stock Fund under the Predecessor Plan will be allowed to remain in that fund until distributed to Participant, as elected under the Predecessor Plan and provided for under Section 3.5 of
this Plan. 

  

	 	(ii)	Cash dividends that would have been payable on the stock credited to a Participant’s Account Balance shall be paid directly to the participant. The cash dividend shall be equal
to (a) the number of shares of Stock credited to the Participant’s Account Balance as of the payment date for such dividend in respect of each share of Stock, multiplied by (b) the fair market value of the dividend, divided by
(c) the “fair market value” of the Stock on the payment date for such dividend. 

  

	 	(iii)	 The number of shares of Stock credited to the Participant’s Account Balance may be adjusted by the Committee, in its sole discretion, to prevent dilution or
enlargement of Participants’ rights with respect to the portion of his or her 

  

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Account Balance allocated to the BCSB Bankcorp, Inc. Stock Fund in the event of any reorganization, reclassification, stock split, or other unusual corporate
transaction or event which affects the value of the Stock, provided that any such adjustment shall be made taking into account any crediting of shares of Stock to the Participant under Section 3.9. 

  

	 	(iv)	For purposes of this Section 3.9(c), the fair market value of the Stock shall be determined by the Committee in its sole discretion. 

  

	 	(v)	Notwithstanding anything in the Plan to the contrary, the portion of a Participant’s Account Balance that is allocated to the BCSB Bankcorp, Inc. Stock Fund shall be converted
into the right to receive a fixed number (rounded to the nearest whole number) of shares of Common Stock based upon the closing price of the shares as of February 13, 2002. 

  

	 	(d)	Certificates of Deposit. No portion of the Participant’s Account Balance can be either initially allocated or re-allocated to an account that is credited as if
the Account Balance had been invested in a fund having the interest rate paid by the Company on a one-year certificate of deposit, as described in Section 2.1 of the Predecessor Plan. Deferrals so credited under the Predecessor Plan shall be
re-allocated to Measurement Funds at the time of enrollment, according to Section 2 of this Plan. 

  

	 	(e)	Proportionate Allocation. In making any election described in Section 3.9(b) above, the Participant shall specify on the Election Form, in increments of one
percent (1%), the percentage of his or her Account Balance to be allocated to a Measurement Fund (as if the Participant was making an investment in that Measurement Fund with that portion of his or her Account Balance). 

  

	 	(f)	Crediting or Debiting Method. The performance of each Measurement Fund (either positive or negative) will be determined by the Committee, in its sole discretion, on a
daily basis based on the manner in which such Participant’s Account Balance has been hypothetically allocated among the Measurement Funds by the Participant. 

  

	 	(g)	No Actual Investment. Notwithstanding any other provision of this Plan that may be interpreted to the contrary, the Measurement Funds are to be used for measurement
purposes only, and a Participant’s election of any such Measurement Fund, the allocation of his or her Account Balance thereto, the calculation of additional amounts and the crediting or debiting of such amounts to a Participant’s Account
Balance shall not be considered or construed in any manner as an actual investment of his or her Account Balance in any such Measurement Fund. In the event that the Company or the Trustee (as that term is defined in the Trust), in its own
discretion, decides to invest funds in any or all of the investments on which the Measurement Funds are based, no Participant shall have any rights in or to such investments themselves. Without limiting the foregoing, a Participant’s Account
Balance shall at all times be a bookkeeping entry only and shall not represent any investment made on his or her behalf by the Company or the Trust; the Participant shall at all times remain an unsecured creditor of the Company.

  

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	3.10	FICA and Other Taxes. 

  

	 	(a)	Annual Deferral Amounts. For each Plan Year in which an Annual Deferral Amount is being withheld from a Participant, the Participant’s Employer(s) shall withhold
from that portion of the Participant’s Base Salary, and Bonus that are not being deferred, in a manner determined by the Employer(s), the Participant’s share of FICA and other employment taxes on such Annual Deferral Amount. If necessary,
the Committee may reduce the Annual Deferral Amount in order to comply with this Section 3.10. 

  

	 	(b)	401(k) Restoration Matching Account and Retirement Credit Account. When a Participant becomes vested in a portion of his or her 401(k) Restoration Matching Account or
Retirement Credit Account, the Participant’s Employer(s) shall withhold from the Participant’s Base Salary or Bonus that are not deferred, in a manner determined by the Employer(s), the Participant’s share of FICA and other employment
taxes. If necessary, the Committee may reduce the vested portion of the Participant’s 401(k) Restoration Matching Account or Retirement Credit Account, as applicable, in order to comply with this Section 3.10. 

  

	 	(c)	Distributions. The Participant’s Employer(s), or the trustee of the Trust, shall withhold from any payments made to a Participant under this Plan all federal,
state and local income, employment and other taxes required to be withheld by the Employer(s), or the trustee of the Trust, in connection with such payments, in amounts and in a manner to be determined in the sole discretion of the Employer(s) and
the trustee of the Trust. 

 ARTICLE 4 
 Deduction Limitation 
  

	4.1	Deduction Limitation on Benefit Payments. If an Employer determines in good faith prior to a Change in Control that there is a reasonable likelihood that any
compensation paid to a Participant for a taxable year of the Employer would not be deductible by the Employer solely by reason of the limitation under Code Section 162(m), then to the extent deemed necessary by the Employer to ensure that the
entire amount of any distribution to the Participant pursuant to this Plan prior to the Change in Control is deductible, the Employer may defer all or any portion of a distribution under this Plan. Any amounts deferred pursuant to this limitation
shall continue to be credited/debited with additional amounts in accordance with Section 3.9 above, even if such amount is being paid out in installments. The amounts so deferred and amounts credited thereon shall be distributed to the
Participant or his or her Beneficiary (in the event of the Participant’s death) at the earliest possible date, as determined by the Employer in good faith, on which the deductibility of compensation paid or payable to the Participant for the
taxable year of the Employer during which the distribution is made will not be limited by Section 162(m), or if earlier, the effective date of a Change in Control. Notwithstanding anything to the contrary in this Plan, the Deduction Limitation
shall not apply to any distributions made after a Change in Control. 

  

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 ARTICLE 5 
 In-Service Distribution; Unforeseeable Financial Emergencies; 
 Withdrawal Election

  

	5.1	In-Service Distribution. In connection with each election to defer an Annual Deferral Amount, a Participant may irrevocably elect to receive an In-Service Distribution
from the Plan with respect to all or a portion of (i) the Annual Deferral Amount, The In-Service Distribution shall be a lump sum payment in an amount that is equal to the portion of the Annual Deferral Amount, the vested portion of the
Retirement Credit Amount and the vested portion of the 401(k) Restoration Matching Amount that the Participant elected to have distributed as an In-Service Distribution, plus amounts credited or debited in the manner provided in Section 3.9
above on that amount, calculated as of the close of business on or around the date on which the In-Service Distribution becomes payable, as determined by the Committee in its sole discretion. Subject to the other terms and conditions of this Plan,
each In-Service Distribution elected shall be paid out during a sixty (60) day period commencing immediately after the first day of any Plan Year designated by the Participant. The Plan Year designated by the Participant must be at least three
Plan Years after the end of the Plan Year in which the Annual Deferral Amount is actually deferred, or the vested portion of the Retirement Credit Amount or 401(k) Restoration Matching Amount is actually contributed. By way of example, if an
In-Service Distribution is elected for Annual Deferral Amounts that are deferred in the Plan Year commencing October 1, 2004, the In-Service Distribution would become payable during a sixty (60) day period commencing September 30,
2007. Notwithstanding the language set forth above, the Committee shall, in its sole discretion, adjust the amount distributable as an In-Service Distribution if any portion of the Retirement Credit Amount or 401(k) Restoration Matching Amount is
unvested on the In-Service Distribution Date. 

  

	5.2	Other Benefits Take Precedence Over In-Service Distributions. Should an event occur that triggers a benefit under Article 6, 7, 8, 9 or 10, any Annual Deferral Amount,
plus amounts credited or debited thereon, that is subject to an In-Service Distribution election under Section 5.1 shall not be paid in accordance with Section 5.1 but shall be paid in accordance with the other applicable Article.

  

	5.3	Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies. 

  

	 	(a)	If the Participant experiences an Unforeseeable Financial Emergency, the Participant may petition the Committee to suspend deferrals of Base Salary, Bonus, Director Fees required to
be made by such Participant, to the extent deemed necessary by the Committee to satisfy the Unforeseeable Financial Emergency. If suspension of deferrals is not sufficient to satisfy the Participant’s Unforeseeable Financial Emergency, or if:

  

	 	(i)	Reimbursement or compensation by insurance or otherwise; or 

  

	 	(ii)	Liquidation of Participant’s assets (to the extent the liquidation would not itself cause severe financial hardship) 

 cannot satisfy the Participant’s Unforeseeable Financial Emergency, then the Participant may further petition the Committee to receive a partial or
full payout from the Plan. The 

  

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Participant shall only receive a payout from the Plan to the extent such payout is deemed necessary by the Committee to satisfy the Participant’s
Unforeseeable Financial Emergency, plus an amount necessary to pay taxes reasonably anticipated as a result of the distribution. 
  

	 	(b)	The payout shall not exceed the lesser of (i) the Participant’s vested Account Balance, calculated as of the close of business on or around the date on which the amount
becomes payable, as determined by the Committee in its sole discretion, or (ii) the amount reasonably needed to satisfy the Unforeseeable Financial Emergency, plus an amount necessary to pay taxes reasonably anticipated as a result of the
distribution. 

  

	 	(c)	If the Committee, in its sole discretion, approves a Participant’s petition for suspension, the Participant’s deferrals under this Plan shall be suspended as of the date
of such approval. If the Committee, in its sole discretion, approves a Participant’s petition for suspension and payout, the Participant’s deferrals under this Plan shall be suspended as of the date of such approval and the Participant
shall receive a payout from the Plan within sixty (60) days of the date of such approval. 

  

	5.4	Withdrawal Election. No withdrawal election is available under this Plan. 

 ARTICLE 6 
 Change in Control Benefit 
  

	6.1	Change in Control Benefit. The Participant will receive a Change in Control Benefit, which shall be equal to the Participant’s vested Account Balance, calculated
as of the close of business on or around the date of the Change in Control, as selected by the Committee in its sole discretion, if (i) the Participant has elected to receive a Change in Control Benefit, as set forth in Section 6.2 below,
and (ii) if a Change in Control occurs prior to the Participant’s Termination of Employment, Retirement, death or Disability. 

  

	 	a)	Excess Parachute Payment. Notwithstanding any provision of this Plan to the contrary, to the extent the amount or timing of any payment of any benefit under this
Article 6 would create an excise tax under the excess parachute rules of Section 280G of the Code, the Company shall reduce or delay the benefit paid under this Plan to the extent it would not be an excess parachute payment.

  

	6.2	Payment of Change in Control Benefit. A Participant, in connection with his or her commencement of participation in the Plan, shall irrevocably elect on an Election
Form whether to (i) receive a Change in Control Benefit, or (ii) have his or her Account Balance remain in the Plan upon the occurrence of a Change in Control and to have his or her Account Balance remain subject to the terms and
conditions of the Plan. If a Participant does not make any election with respect to the payment of the Change in Control Benefit, then such Participant’s Account Balance shall remain in the Plan upon a Change in Control and shall be subject to
the terms and conditions of the Plan. The Change in Control Benefit, if any, shall be paid to the Participant in a lump sum no later than sixty (60) days after a Change in Control. 

  

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 ARTICLE 7 
 Retirement Benefit 
  

	7.1	Retirement Benefit. A Participant who Retires shall receive, as a Retirement Benefit, his or her vested Account Balance, calculated as of the close of business on or
around the last business day of the Plan Year in which the Participant Retires, as determined by the Committee in its sole discretion. 

  

	7.2	Payment of Retirement Benefit. A Participant, in connection with his or her commencement of participation in the Plan, shall elect on an Election Form to receive the
Retirement Benefit in a lump sum or pursuant to an Annual Installment Method of up to 20 years. The Participant may change his or her election to an allowable alternative payout period by submitting a new Election Form to the Committee, provided
that any such Election Form is submitted to and accepted by the Committee in its sole discretion at least twelve (12) months prior to the Participant’s Retirement. The Election Form most recently accepted by the Committee shall govern the
payout of the Retirement Benefit. If a Participant does not make any election with respect to the payment of the Retirement Benefit, then such benefit shall be payable in a lump sum. The lump sum payment shall be made, or installment payments shall
commence, no later than sixty (60) days after the last day of the Plan Year in which the Participant Retires. Remaining installments, if any, shall be paid no later than sixty (60) days after each anniversary of the last day of the Plan
Year in which the Participant Retires. 

 ARTICLE 8 
 Termination Benefit 
  

	8.1	Termination Benefit. A Participant who experiences a Termination of Employment shall receive a Termination Benefit, which shall be equal to the Participant’s
vested Account Balance, calculated as of the close of business on or around the last business day of the Plan Year in which the Participant experiences a Termination of Employment, as determined by the Committee in its sole discretion.

  

	8.2	Payment of Termination Benefit. The Termination Benefit shall be paid to the Participant in a lump sum payment no later than sixty (60) days after the last day of
the Plan Year in which the Participant experiences the Termination of Employment. 

 ARTICLE 9 
 Disability Waiver and Benefit 
  

	9.1	Disability Waiver.  

  

	 	(a)	 Waiver of Deferral. A Participant who is determined to be suffering from a Disability shall continue to be eligible for the benefits provided in
Articles 5, 6, 7, 8, 9 or 10 in accordance with the provisions of those Articles. However, such Disabled Participant shall be excused from fulfilling his or her Annual Deferral Amount commitment that would otherwise have been withheld during the
remainder of the Plan Year in which the Participant first suffers the Disability. Such suspension of the Annual Deferral Amount 

  

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shall commence on the first day following the end of benefits provided under the Company’s short term disability plan. During the period of Disability,
the Participant shall not be allowed to make any additional deferral elections. 

  

	 	(b)	Deferral Following Disability. If a Participant returns to employment, or service as a Director, with an Employer after a Disability ceases, the Participant may elect
to defer an Annual Deferral Amount for the Plan Year following his or her return to employment or service and for every Plan Year thereafter while a Participant in the Plan; provided such deferral elections are otherwise allowed and an Election Form
is delivered to and accepted by the Committee for each such election in accordance with Section 3.3 above. 

  

	9.2	Continued Eligibility; Disability Benefit. 

  

	 	(a)	Continued Eligibility. A Participant suffering a Disability shall, for benefit purposes under this Plan, continue to be considered to be employed, or in the service of
an Employer as a Director, and shall be eligible for the benefits provided for in Articles 5, 6, 7, 8 or 10 in accordance with the provisions of those Articles. Notwithstanding the above, the Committee shall have the right to, in its sole
and absolute discretion and for purposes of this Plan only, deem the Participant’s employment to have terminated at any time after such Participant is determined to be suffering a Disability. 

  

	 	(b)	Deemed Termination of Employment. If, in the Committee’s discretion, the Disabled Participant’s employment has terminated, and such Participant is not
otherwise eligible to Retire, the Participant shall be deemed to have experienced a Termination of Employment for purposes of this Plan and will receive a Disability Benefit. The Disability Benefit shall be equal to his or her vested Account
Balance, calculated as of the close of business on or around the date on which the Disabled Participant is deemed to have experienced a Termination of Employment, as determined by the Committee in its sole discretion. The Participant shall receive
his or her Disability Benefit in a lump sum payment no later than sixty (60) days after the date on which the Committee deems the Disabled Participant to have experienced a Termination of Employment. 

  

	 	(c)	Deemed Retirement. If, in the Committee’s discretion, the Disabled Participant’s employment has terminated, and such Participant is otherwise eligible to
Retire, the Participant shall be deemed to have Retired for purposes of this Plan and will receive a Disability Benefit. The Disability Benefit shall be equal to his or her vested Account Balance, calculated as of the close of business on or around
the date on which the Participant is deemed to have Retired, as determined by the Committee in its sole discretion. The Participant shall receive his or her Disability Benefit in the same form in which such Participant elected to receive his or her
Retirement Benefit. The lump sum payment shall be made, or installment payments shall commence, no later than sixty (60) days after the date on which the Disabled Participant is deemed to have Retired. Remaining installments, if any, shall be
paid no later than sixty (60) days after each anniversary of the date on which the Disabled Participant is deemed to have Retired. 

  

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 ARTICLE 10 
 Survivor Benefit 
  

	10.1	Survivor Benefit. The Participant’s Beneficiary(ies) shall receive a Survivor Benefit upon the Participant’s death which will be equal to the
Participant’s vested Account Balance on the date of death, calculated as of the close of business on or around the date of the Participant’s death, as selected by the Committee in its sole discretion, if the Participant dies prior to
(i) his or her Retirement, Termination of Employment or Disability, or (ii) the complete distribution of his or her Retirement Benefit or Disability Benefit, calculated as of the close of business on or around the date of the
Participant’s death, as selected by the Committee in its sole discretion. 

  

	10.2	Payment of Survivor Benefit. The Survivor Benefit shall be paid to the Participant’s Beneficiary(ies) in either: (i) a lump sum payment; or (ii) in
installments, as elected by the Participant on the Election Form. In either case, payments shall commence no later than sixty (60) days after the date on which the Committee is provided with proof that is satisfactory to the Committee of the
Participant’s death 

 ARTICLE 11 
 Beneficiary Designation 
  

	11.1	Beneficiary. Each Participant shall have the right, at any time, to designate his or her Beneficiary(ies) (both primary as well as contingent) to receive any benefits
payable under the Plan to a beneficiary upon the death of a Participant. The Beneficiary designated under this Plan may be the same as or different from the Beneficiary designation under any other plan of an Employer in which the Participant
participates. 

  

	11.2	Beneficiary Designation; Change of Beneficiary Designation; Spousal Consent. A Participant shall designate his or her Beneficiary by completing and signing the
Beneficiary Designation Form, and returning it to the Committee or its designated agent. A Participant shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and
the Committee’s rules and procedures, as in effect from time to time. If the Participant names someone other than his or her spouse as a Beneficiary and if the Committee requires that a spousal consent be obtained with respect to such
Participant, a spousal consent, in the form designated by the Committee, must be signed by that Participant’s spouse and returned to the Committee. Upon the acceptance by the Committee of a new Beneficiary Designation Form, all Beneficiary
designations previously filed shall be canceled. The Committee shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and accepted by the Committee prior to his or her death. 

  

	11.3	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received and acknowledged in writing by the Committee or its
designated agent. 

  

	11.4	No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided in Sections 11.1, 11.2 and 11.3 above or, if all designated
Beneficiaries predecease the Participant or die prior to complete distribution of the Participant’s benefits, then the Participant’s designated Beneficiary shall be deemed to be his or her surviving spouse. If the Participant has no
surviving spouse, the benefits remaining under the Plan to be paid to a Beneficiary shall be payable to the executor or personal representative of the Participant’s estate. 

  

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	11.5	Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary to receive payments pursuant to this Plan, the Committee shall have the right,
exercisable in its discretion, to cause the Participant’s Employer to withhold such payments until this matter is resolved to the Committee’s satisfaction. 

  

	11.6	Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and completely discharge all Employers and the Committee from all further
obligations under this Plan with respect to the Participant, and that Participant’s Plan Agreement shall terminate upon such full payment of benefits. 

 ARTICLE 12 
 Leave of Absence 
  

	12.1	Paid Leave of Absence. If a Participant is authorized by the Participant’s Employer to take a paid leave of absence from the employment of the Employer,
(i) the Participant shall continue to be considered eligible for the benefits provided in Articles 5, 6, 7, 8, 9 or 10 in accordance with the provisions of those Articles, and (ii) the Annual Deferral Amount shall continue to be withheld
during such paid leave of absence in accordance with Section 3.3. 

  

	12.2	Unpaid Leave of Absence. If a Participant is authorized by the Participant’s Employer to take an unpaid leave of absence from the employment of the Employer for
any reason, such Participant shall continue to be eligible for the benefits provided in Articles 5, 6, 7, 8, 9 or 10 in accordance with the provisions of those Articles. However, the Participant shall be excused from fulfilling his or her Annual
Deferral Amount commitment that would otherwise have been withheld during the remainder of the Plan Year in which the unpaid leave of absence is taken. During the unpaid leave of absence, the Participant shall not be allowed to make any additional
deferral elections. However, if the Participant returns to employment, the Participant may elect to defer an Annual Deferral Amount for the Plan Year following his or her return to employment and for every Plan Year thereafter while a Participant in
the Plan; provided such deferral elections are otherwise allowed and an Election Form is delivered to and accepted by the Committee for each such election in accordance with Section 3.3 above. 

 ARTICLE 13 
 Termination,
Amendment or Modification 
  

	13.1	 Termination. Although each Employer anticipates that it will continue the Plan for an indefinite period of time, there is no guarantee that any
Employer will continue the Plan or will not terminate the Plan at any time in the future. Accordingly, each Employer reserves the right to discontinue its sponsorship of the Plan and/or to terminate the Plan at any time with respect to any or all of
its participating Employees and Directors, by action of its board of directors. Upon the termination of the Plan with respect to any Employer, the Plan Agreements of the affected Participants who are employed by that Employer, or in the service of
that Employer as Directors, shall terminate and their vested Account Balances shall be determined (i) as if they had 

  

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experienced a Termination of Employment on the date of Plan termination; or (ii) if Plan termination occurs after the date upon which a Participant was
eligible to Retire, then with respect to that Participant as if he or she had Retired on the date of Plan termination. Such benefits shall be paid to the Participants as follows: (i) prior to a Change in Control, if the Plan is terminated with
respect to all of its Participants, an Employer shall have the right, in its sole discretion, and notwithstanding any elections made by the Participant, to pay such benefits in a lump sum, with amounts credited and debited during the installment
period as provided herein; or (ii) prior to a Change in Control, if the Plan is terminated with respect to less than all of its Participants, an Employer shall be required to pay such benefits in a lump sum or pursuant to an Annual Installment
Method of up to 20 years, with amounts credited and debited during the installment period as provided herein; or (iii) after a Change in Control, if the Plan is terminated with respect to some or all of its Participants, the Employer shall be
required to pay such benefits in a lump sum. The termination of the Plan shall not adversely affect any Participant or Beneficiary who has become entitled to the payment of any benefits under the Plan as of the date of termination; provided however,
that the Employer shall have the right to accelerate installment payments without a premium or prepayment penalty by paying the vested Account Balance in a lump sum or pursuant to an Annual Installment Method using fewer years (provided that the
present value of all payments that will have been received by a Participant at any given point of time under the different payment schedule shall equal or exceed the present value of all payments that would have been received at that point in time
under the original payment schedule). 

  

	13.2	Amendment. Any Employer may, at any time, amend or modify the Plan in whole or in part with respect to that Employer by the action of its board of directors; provided,
however, that: (i) no amendment or modification shall be effective to decrease or restrict the value of a Participant’s vested Account Balance in existence at the time the amendment or modification is made, calculated as if the Participant
had experienced a Termination of Employment as of the effective date of the amendment or modification or, if the amendment or modification occurs after the date upon which the Participant was eligible to Retire, the Participant had Retired as of the
effective date of the amendment or modification, and (ii) no amendment or modification of this Section 13.2 or Section 14.2 of the Plan shall be effective. The amendment or modification of the Plan shall not affect any Participant or
Beneficiary who has become entitled to the payment of benefits under the Plan as of the date of the amendment or modification; provided, however, that the Employer shall have the right to accelerate installment payments by paying the vested Account
Balance in a lump sum or pursuant to an Annual Installment Method using fewer years (provided that the present value of all payments that will have been received by a Participant at any given point of time under the different payment schedule shall
equal or exceed the present value of all payments that would have been received at that point in time under the original payment schedule). 

  

	13.3	Plan Agreement. Despite the provisions of Sections 13.1 and 13.2 above, if a Participant’s Plan Agreement contains benefits or limitations that are not in
this Plan document, the Employer may only amend or terminate such provisions with the written consent of the Participant. 

  

	13.4	Effect of Payment. The full payment of the Participant’s vested Account Balance under Articles 5, 6, 7, 8, 9 or 10 of the Plan shall completely discharge all
obligations to a Participant and his or her designated Beneficiaries under this Plan and the Participant’s Plan Agreement shall terminate. 

  

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 ARTICLE 14 
 Administration 
  

	14.1	Committee Duties. Except as otherwise provided in this Article 14, this Plan shall be administered by a Committee, which shall consist of the Board, or such committee
as the Board shall appoint. Members of the Committee may be Participants under this Plan. The Committee shall also have the discretion and authority to (i) make, amend, interpret, and enforce all appropriate rules and regulations for the
administration of this Plan and (ii) decide or resolve any and all questions including interpretations of this Plan, as may arise in connection with the Plan. Any individual serving on the Committee who is a Participant shall not vote or act on
any matter relating solely to himself or herself. When making a determination or calculation, the Committee shall be entitled to rely on information furnished by a Participant or the Company. 

  

	14.2	Administration Upon Change In Control. For purposes of this Plan, the Committee shall be the “Administrator” at all times prior to the occurrence of a Change
in Control. Within one-hundred and twenty (120) days following a Change in Control, an independent third party “Administrator” may be selected by the individual who, immediately prior to the Change in Control, was the Company’s
Chief Executive Officer or, if not so identified, the Company’s highest ranking officer (the “Ex-CEO”), and approved by the Trustee. The Committee, as constituted prior to the Change in Control, shall continue to be the Administrator
until the earlier of (i) the date on which such independent third party is selected and approved, or (ii) the expiration of the one hundred-twenty (120) day period following the Change in Control. If an independent third party is not
selected within one hundred-twenty (120) days of such Change in Control, the Committee, as described in Section 14.1 above, shall be the Administrator. The Administrator shall have the discretionary power to determine all questions arising
in connection with the administration of the Plan and the interpretation of the Plan and Trust including, but not limited to benefit entitlement determinations; provided, however, upon and after the occurrence of a Change in Control, the
Administrator shall have no power to direct the investment of Plan or Trust assets or select any investment manager or custodial firm for the Plan or Trust. Upon and after the occurrence of a Change in Control, the Company must: (1) pay all
reasonable administrative expenses and fees of the Administrator; (2) indemnify the Administrator against any costs, expenses and liabilities including, without limitation, attorney’s fees and expenses arising in connection with the
performance of the Administrator hereunder, except with respect to matters resulting from the gross negligence or willful misconduct of the Administrator or its employees or agents; and (3) supply full and timely information to the
Administrator on all matters relating to the Plan, the Trust, the Participants and their Beneficiaries, the Account Balances of the Participants, the date and circumstances of the Retirement, Disability, death or Termination of Employment of the
Participants, and such other pertinent information as the Administrator may reasonably require. Upon and after a Change in Control, the Administrator may be terminated (and a replacement appointed) by the Trustee only with the approval of the
Ex-CEO. Upon and after a Change in Control, the Administrator may not be terminated by the Company. 

  

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	14.3	Agents. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them such administrative duties as it sees fit
(including acting through a duly appointed representative) and may from time to time consult with counsel who may be counsel to any Employer. 

  

	14.4	Binding Effect of Decisions. The decision or action of the Administrator with respect to any question arising out of or in connection with the administration,
interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

  

	14.5	Indemnity of Committee. All Employers shall indemnify and hold harmless the members of the Committee, any Employee to whom the duties of the Committee may be
delegated, and the Administrator against any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the Committee, any of its members,
any such Employee or the Administrator. 

  

	14.6	Employer Information. To enable the Committee and/or Administrator to perform its functions, the Company and each Employer shall supply full and timely information to
the Committee and/or Administrator, as the case may be, on all matters relating to the compensation of its Participants, the date and circumstances of the Retirement, Disability, death or Termination of Employment of its Participants, and such other
pertinent information as the Committee or Administrator may reasonably require. 

 ARTICLE 15 
 Other Benefits and Agreements 
  

	15.1	Coordination with Other Benefits. The benefits provided for a Participant and Participant’s Beneficiary under the Plan are in addition to any other benefits
available to such Participant under any other plan or program for employees of the Participant’s Employer. The Plan shall supplement and shall not supersede, modify or amend any other such plan or program except as may otherwise be expressly
provided. 

 ARTICLE 16 
 Claims Procedures 
  

	16.1	Presentation of Claim. Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being referred to below as a “Claimant”) may
deliver to the Committee a written claim for a determination with respect to the amounts distributable to such Claimant from the Plan. If such a claim relates to the contents of a notice received by the Claimant, the claim must be made within sixty
(60) days after such notice was received by the Claimant. All other claims must be made within 180 days of the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination
desired by the Claimant. 

  

	16.2	 Notification of Decision. The Committee shall consider a Claimant’s claim within a reasonable time, but no later than ninety (90) days after
receiving the claim. If the Committee determines 

  

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that special circumstances require an extension of time for processing the claim, written notice of the extension shall be furnished to the Claimant prior to
the termination of the initial ninety (90) day period. In no event shall such extension exceed a period of ninety (90) days from the end of the initial period. The extension notice shall indicate the special circumstances requiring an
extension of time and the date by which the Committee expects to render the benefit determination. The Committee shall notify the Claimant in writing: 

  

	 	(a)	that the Claimant’s requested determination has been made, and that the claim has been allowed in full; or 

  

	 	(b)	that the Committee has reached a conclusion contrary, in whole or in part, to the Claimant’s requested determination, and such notice must set forth in a manner calculated to
be understood by the Claimant: 

  

	 	(i)	the specific reason(s) for the denial of the claim, or any part of it; 

  

	 	(ii)	specific reference(s) to pertinent provisions of the Plan upon which such denial was based; 

  

	 	(iii)	a description of any additional material or information necessary for the Claimant to perfect the claim, and an explanation of why such material or information is necessary;

  

	 	(iv)	an explanation of the claim review procedure set forth in Section 16.3 below; and 

  

	 	(v)	a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 

  

	16.3	Review of a Denied Claim. On or before sixty (60) days after receiving a notice from the Committee that a claim has been denied, in whole or in part, a Claimant
(or the Claimant’s duly authorized representative) may file with the Committee a written request for a review of the denial of the claim. The Claimant (or the Claimant’s duly authorized representative): 

  

	 	(a)	may, upon request and free of charge, have reasonable access to, and copies of, all documents, records and other information relevant to the claim for benefits;

  

	 	(b)	may submit written comments or other documents; and/or 

  

	 	(c)	may request a hearing, which the Committee, in its sole discretion, may grant. 

  

	16.4	Decision on Review. The Committee shall render its decision on review promptly, and no later than sixty (60) days after the Committee receives the Claimant’s
written request for a review of the denial of the claim. If the Committee determines that special circumstances require an extension of time for processing the claim, written notice of the extension shall be furnished to the Claimant prior to the
termination of the initial sixty (60) day period. In no event shall such extension exceed a period of sixty (60) days from the end of the initial period. The extension notice shall indicate the special circumstances requiring an extension
of time and the date by which the Committee expects to render the benefit determination. In rendering its decision, the Committee shall take into account all comments, documents, records and other information submitted by the Claimant relating to
the claim, without regard to whether such information was submitted or considered in the initial benefit determination. The decision must be written in a manner calculated to be understood by the Claimant, and it must contain:

  

	 	(a)	specific reasons for the decision; 

  

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	 	(b)	specific reference(s) to the pertinent Plan provisions upon which the decision was based; 

  

	 	(c)	a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of, all documents, records and other information relevant (as
defined in applicable ERISA regulations) to the Claimant’s claim for benefits; and 

  

	 	(d)	a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a). 

  

	16.5	Legal Action. A Claimant’s compliance with the foregoing provisions of this Article 16 is a mandatory prerequisite to a Claimant’s right to commence any
legal action with respect to any claim for benefits under this Plan. 

 ARTICLE 17 
 Trust 
  

	17.1	Establishment of the Trust. The Company has established a grantor trust, by agreement, with a third party, the trustee, (the “Trust”), which has invested in
shares of Company stock to the extent required to provide an investment return equal to the returns on Participants’ accounts deemed invested in Company stock. In addition, each Employer shall transfer, upon a Change of Control, such assets as
the Employer determines, in its sole discretion, are necessary to provide, on a present value basis, for its respective future liabilities created with respect to the Rollover Amounts, Annual Deferral Amounts, Annual Retirement Credit Amounts, and
Annual 401(k) Restoration Matching Amounts for such Employer’s Participants for all periods prior to the transfer, as well as any debits and credits to the Participants’ Account Balances for all periods prior to the transfer, taking into
consideration the value of the assets in the trust at the time of the transfer. 

  

	17.2	Interrelationship of the Plan and the Trust. The provisions of the Plan and the Plan Agreement shall govern the rights of a Participant to receive distributions
pursuant to the Plan. The provisions of the Trust shall govern the rights of the Employers, Participants and the creditors of the Employers to the assets transferred to the Trust. Each Employer shall at all times remain liable to carry out its
obligations under the Plan. 

  

	17.3	Distributions From the Trust. Each Employer’s obligations under the Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust, and
any such distribution shall reduce the Employer’s obligations under this Plan. 

 ARTICLE 18 
 Miscellaneous 
  

	18.1	 Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and that “is unfunded and
is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly 

  

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compensated employees” within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1). The Plan shall be administered and interpreted to the
extent possible in a manner consistent with that intent. 

  

	18.2	Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims in any
property or assets of an Employer. For purposes of the payment of benefits under this Plan, any and all of an Employer’s assets shall be, and remain, the general, unpledged unrestricted assets of the Employer. An Employer’s obligation
under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 

  

	18.3	Employer’s Liability. An Employer’s liability for the payment of benefits shall be defined only by the Plan and the Plan Agreement, as entered into between
the Employer and a Participant. An Employer shall have no obligation to a Participant under the Plan except as expressly provided in the Plan and his or her Plan Agreement. 

  

	18.4	Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise
encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be, unassignable and non-transferable. No
part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, be
transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise. 

  

	18.5	Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between any Employer and the
Participant. Such employment is hereby acknowledged to be an “at will” employment relationship that can be terminated at any time for any reason, or no reason, with or without cause, and with or without notice, unless expressly provided in
a written employment agreement. Nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of any Employer, either as an Employee or a Director, or to interfere with the right of any Employer to discipline or
discharge the Participant at any time. 

  

	18.6	Furnishing Information. A Participant or his or her Beneficiary will cooperate with the Committee by furnishing any and all information requested by the Committee and
take such other actions as may be requested in order to facilitate the administration of the Plan and the payments of benefits hereunder, including but not limited to taking such physical examinations as the Committee may deem necessary.

  

	18.7	Terms. Whenever any words are used herein in the masculine, they shall be construed as though they were in the feminine in all cases where they would so apply; and
whenever any words are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where they would so apply. 

  

	18.8	Captions. The captions of the articles, sections and paragraphs of this Plan are for convenience only and shall not control or affect the meaning or construction of
any of its provisions. 

  

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	18.9	Governing Law. Subject to ERISA, the provisions of this Plan shall be construed and interpreted according to the internal laws of the State of Maryland, to the extent
not preempted by federal law, without regard to its conflicts of laws principles. 

  

	18.10	Notice. Any notice or filing required or permitted to be given to the Committee under this Plan shall be sufficient if in writing and hand-delivered, or sent by
registered or certified mail, to the address below: 

  

	
	Baltimore County Savings Bank, F.S.B.
	Attn: Gary Loraditch
	4111 E. Joppa Road
	Baltimore, MD 21236

 Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as
of the date shown on the postmark on the receipt for registration or certification. 
 Any notice or filing required or permitted to be given
to a Participant under this Plan shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of the Participant. 
  

	18.11	Successors. The provisions of this Plan shall bind and inure to the benefit of the Participant’s Employer and its successors and assigns and the Participant and
the Participant’s designated Beneficiaries. 

  

	18.12	Spouse’s Interest. The interest in the benefits hereunder of a spouse of a Participant who has predeceased the Participant shall automatically pass to the
Participant and shall not be transferable by such spouse in any manner, including but not limited to such spouse’s will, nor shall such interest pass under the laws of intestate succession. 

  

	18.13	Validity. In case any provision of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but
this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

  

	18.14	Incompetent. If the Committee determines in its discretion that a benefit under this Plan is to be paid to a minor, a person declared incompetent or to a person
incapable of handling the disposition of that person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person. The
Committee may require proof of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the
Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 

  

	18.15	 Court Order. The Committee is authorized to make any payments directed by court order in any action in which the Plan or the Committee has been named
as a party. In addition, if a court determines that a spouse or former spouse of a Participant has an interest in the Participant’s benefits under the Plan in connection with a property settlement or otherwise, the Committee, in 

  

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its sole discretion, shall have the right, notwithstanding any election made by a Participant, to immediately distribute the spouse’s or former
spouse’s interest in the Participant’s benefits under the Plan to that spouse or former spouse. 

  

	18.16	Distribution in the Event of Taxation. 

  

	 	(a)	In General. If, for any reason, all or any portion of a Participant’s benefits under this Plan becomes taxable to the Participant prior to receipt, a Participant
may petition the Committee before a Change in Control, or the trustee of the Trust after a Change in Control, for a distribution of that portion of his or her benefit that has become taxable. Upon the grant of such a petition, which grant shall not
be unreasonably withheld (and, after a Change in Control, shall be granted), a Participant’s Employer shall distribute to the Participant immediately available funds in an amount equal to the taxable portion of his or her benefit (which amount
shall not exceed a Participant’s unpaid vested Account Balance under the Plan). If the petition is granted, the tax liability distribution shall be made within 90 days of the date when the Participant’s petition is granted. Such a
distribution shall affect and reduce the benefits to be paid under this Plan. 

  

	 	(b)	Trust. If the Trust terminates in accordance with its terms and benefits are distributed from the Trust to a Participant in accordance therewith, the
Participant’s benefits under this Plan shall be reduced to the extent of such distributions. 

  

	18.17	Insurance. The Employers, on their own behalf or on behalf of the trustee of the Trust, and, in their sole discretion, may apply for and procure insurance on the life
of the Participant, in such amounts and in such forms as the Trust may choose. The Employers or the trustee of the Trust, as the case may be, shall be the sole owner and beneficiary of any such insurance. The Participant shall have no interest
whatsoever in any such policy or policies, and at the request of the Employers shall submit to medical examinations and supply such information and execute such documents as may be required by the insurance company or companies to whom the Employers
have applied for insurance. 

  

	18.18	 Legal Fees To Enforce Rights After Change in Control. The Company and each Employer is aware that upon the occurrence of a Change in Control, the
Board or the board of directors of a Participant’s Employer (which might then be composed of new members) or a shareholder of the Company or the Participant’s Employer, or of any successor corporation might then cause or attempt to cause
the Company, the Participant’s Employer or such successor to refuse to comply with its obligations under the Plan and might cause or attempt to cause the Company or the Participant’s Employer to institute, or may institute, litigation
seeking to deny Participants the benefits intended under the Plan. In these circumstances, the purpose of the Plan could be frustrated. Accordingly, if, following a Change in Control, it should appear to any Participant that the Company, the
Participant’s Employer or any successor corporation has failed to comply with any of its obligations under the Plan or any agreement thereunder or, if the Company, such Employer or any other person takes any action to declare the Plan void or
unenforceable or institutes any litigation or other legal action designed to deny, diminish or to recover from any Participant the benefits intended to be provided, then the Company and the Participant’s Employer irrevocably authorize such
Participant to retain counsel of his or her choice at the expense of the Company and the Participant’s Employer (who shall be jointly and severally 

  

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liable) to represent such Participant in connection with the initiation or defense of any litigation or other legal action, whether by or against the
Company, the Participant’s Employer or any director, officer, shareholder or other person affiliated with the Company, the Participant’s Employer or any successor thereto in any jurisdiction. 

  

	18.19	Limitations on Numbers of Shares and Annual Cost. The Company may not distribute more than 170,000 shares of Common Stock to Participants pursuant to the Plan,
adjusted for any increase, decrease or exchange of shares for a different number of kind of shares or other securities of the Company which results from a merger, consolidation, recapitalization, reorganization, reclassification, split-up,
combination of shares, stock split, stock dividend or similar event in which the number of shares has changed without the receipt or payment of consideration by the Company. Notwithstanding anything in this Plan to the contrary, the annual cost of
this Plan for any fiscal year may not exceed 10% of the Company’s average annual income before taxes for the preceding five fiscal years. 

  

	18.20	Limitations on Issuance of Common Stock. The aggregate amount of Common Stock to be issued to participants pursuant to the Plan, plus all prior issuances by the
Company, by all Non-Tax-Qualified Employee Stock Benefit Plans and Insiders of the Bank and their Associates shall not exceed 27.4% of the (i) outstanding shares of Common Stock, or (ii) stockholders’ equity of the Company, held by
Persons other than the MHC at the close of the stock issuance contemplated by the Plan. For purposes of this Section 18.20, the following definitions apply: 

 Acting in Concert: The term “Acting in Concert” means: (i) knowing participation in a joint activity or interdependent conscious
parallel action towards a common goal whether or not pursuant to an express agreement; or (ii) a combination or pooling of voting or other interests in the securities of an issuer for a common purpose pursuant to any contract, understanding,
relationship, agreement or other arrangement, whether written or otherwise. Any person (as defined by 12 C.F.R. §563b.2(a)(26)) Acting in Concert with another person (“other party”) shall also be deemed to be Acting in Concert
with any person who is also Acting in Concert with that other party, except that any Tax-Qualified Employee Stock Benefit Plan will not be deemed to be Acting in Concert with its trustee or a person who serves in a similar capacity solely for the
purpose of determining whether stock held by the trustee and stock held by the Tax-Qualified Employee Benefit Plan will be aggregated. 
 Associate: The term “Associate,” when used to indicate a relationship with any person, means: (i) any corporation or organization (other than the Bank, the MHC, the Company or a majority-owned subsidiary of the Bank or
the MHC or the Company) of which such person is an officer or partner or is, directly or indirectly, the beneficial owner of 10% or more of any class of equity securities; (ii) any trust or other estate in which such person has a substantial
beneficial interest or as to which such person serves as trustee or in a similar fiduciary capacity, except that, such term shall not include a Tax-Qualified Employee Stock Benefit Plan in which a person has a substantial beneficial interest or
serves as a trustee in a similar fiduciary capacity; and (iii) any relative or spouse of such person, or any relative or such spouse, who has the same home as such person or who is a director of the Bank, the MHC or the Company, or any of their
subsidiaries. 
  

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 Insider: The term “Insider” means any Officer or director of a company or any
affiliate of such company, and any person Acting in Concert with any such Officer or director. 
 MHC: The term “MHC” means
“Baltimore County Savings Bank, M.H.C.” 
 Person: The term “Person” means any corporation, partnership, trust,
incorporated association or any other entity or a natural person. 
 Officer: The term “Officer” means an executive officer
of the MHC, the SHC or the Bank (as applicable), including the Chairman of the Board, President, Executive Vice Presidents, Senior Vice Presidents in charge of principal business functions, Secretary and Treasurer. 
 Tax-Qualified Employee Stock Benefit Plan: The term “Tax-Qualified Employee Stock Benefit Plan” means any defined benefit plan or defined
contribution plan of the Bank, the MHC or the Company such as an employee stock ownership plan, stock bonus plan, profit sharing plan or other plan, which, with its related trust, meets the requirements to be “qualified” under
Section 401 of the Internal Revenue Code of 1986, as amended. A “non tax-qualified employee stock benefit plan” means any defined benefit plan or defined contribution plan which is not so qualified. 
 The Bank and the Company shall use their best efforts to assure that the expenses incurred by them in connection with the Plan are reasonable. 

IN WITNESS WHEREOF, the Company has signed this Plan document as of October 1, 2004. 
  

			
	“Company”
	                            , a
federal corporation
		
	By:	 	 /s/ Gary C. Loraditch

	Title:	 	President

  

 -29- 

 BALTIMORE COUNTY SAVINGS BANK, FSB 
 Deferred Compensation Plan 

 FIRST AMENDMENT 
 TO THE 
 BALTIMORE COUNTY SAVINGS
BANK, FSB 
 DEFERRED COMPENSATION PLAN 
 DATED OCTOBER 1, 2004 
 THIS FIRST AMENDMENT is adopted this      day of
December, 2006, effective as of January 1, 2005, by Baltimore County Savings Bank, FSB, a federally-chartered savings association located in Baltimore, Maryland (the “Company”). 
 The Company executed the Deferred Compensation Plan effective as of October 1, 2004 (the “Plan”). 
 The undersigned hereby amends the Plan for the purpose of bringing the Plan into compliance with Section 409A of the Internal Revenue Code.
Therefore, the following changes shall be made: 
 Section 1.12 of the Plan shall be deleted in its entirety and replaced by the
following: 
  

	1.12	“Change in Control” means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, as such
change is defined in Section 409A of the Code and regulations thereunder. Notwithstanding the foregoing, a “Change in Control” shall not be deemed to occur solely by reason of a transaction in which the Company converts from a Mutual
Holding Company form of ownership to a 100% stock from of ownership, or creates an independent holding company in connection therewith. 

 Section 1.22 of the Plan shall be deleted in its entirety and replaced by the following: 
  

	1.22	“Disability” shall mean the Participant: (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months; or (ii) is, by reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan
covering employees or Directors of the Company. Medical determination of Disability may be made by either the Social Security Administration or by the provider of an accident or health plan covering employees or Directors of the Company provided
that the definition of “disability” applied under such disability insurance program complies with the requirements of the preceding sentence. Upon the request of the plan administrator, the Participant must submit proof to the plan
administrator of the Social Security Administration’s or the provider’s determination. 

  

 1 

 BALTIMORE COUNTY SAVINGS BANK, FSB 
 Deferred Compensation Plan 

  

 Sections 1.33 and 1.34 of the Plan shall be deleted in their entirety and replaced by the
following: 
  

	1.33	“Plan Year” shall mean a period beginning on January 1 of each calendar year and continuing through December 31 of such calendar year. 

 

	1.34	“Retirement”, “Retire(s)” or “Retired” shall mean the following for the Participant: 

  

	 	(a)	Employee means the later of age sixty-five (65) or Termination of Employment. 

  

	 	(b)	Director means the later of age seventy-two (72) or Termination of Employment, but in no event later than age seventy-five (75). 

 The following Section 1.38a shall be added to the Plan immediately following Section 1.38: 
  

	1.38a	“Specified Employee” shall mean a key employee (as defined in Section 416(i) of the Code without regard to paragraph 5 thereof) of the Company if any stock of the
Company is publicly traded on an established securities market or otherwise, as determined by the plan administrator based on the twelve (12) month period ending each December 31 (the “identification period”). If the Participant
is determined to be a Specified Employee for an identification period, the Participant shall be treated as a Specified Employee for purposes of this Plan during the twelve (12) month period that begins on the first day of the fourth month
following the close of the identification period. 

 Section 1.42 of the Plan shall be deleted in its entirety and
replaced by the following: 
  

	1.42	“Termination of Employment” shall mean the following: 

  

	 	(a)	For Employees, Termination of Employment shall mean the termination of the Employee’s employment with the Company for reasons other than death. Whether a Termination of
Employment takes place is determined in accordance with the requirements of Code Section 409A and related Treasury guidance or Regulations based on the facts and circumstances surrounding the termination of the Employee’s employment and
whether the Company and the Employee intended for the Employee to provide significant services for the Company following such termination. A Termination of Employment will not have occurred if: 

  

	 	(i)	 the Employee continues to provide services as an employee of the Company at an annual rate that is twenty percent (20%) or more of 

  

 2 

 BALTIMORE COUNTY SAVINGS BANK, FSB 
 Deferred Compensation Plan 

  

	 	the services rendered, on average, during the immediately preceding three (3) full calendar years of employment (or, if employed less than three (3) years, such lesser
period) and the annual remuneration for such services is twenty percent (20%) or more of the average annual remuneration earned during the final three (3) full calendar years of employment (or, if less, such lesser period), or

  

	 	(ii)	the Employee continues to provide services to the Company in a capacity other than as an employee of the Company at an annual rate that is fifty percent (50%) or more of the
services rendered, on average, during the immediately preceding three (3) full calendar years of employment (or if employed less than three (3) years, such lesser period) and the annual remuneration for such services is fifty percent
(50%) or more of the average annual remuneration earned during the final three (3) full calendar years of employment (or if less, such lesser period). 

 The Employee’s employment relationship will be treated as continuing intact while the Employee is on military leave, sick leave, or other bona fide
leave of absence if the period of such leave of absence does not exceed six (6) months, or if longer, so long as the Employee’s right to reemployment with the Company is provided either by statute or by contract. If the period of leave
exceeds six (6) months and there is no right to reemployment, a Termination of Employment will be deemed to have occurred as of the first date immediately following such six (6) month period. 
  

	 	(b)	For Directors, Termination of Employment shall mean the termination of the Director’s service with the Company for reasons other than death or Disability. Whether a
Termination of Employment takes place is determined in accordance with the requirements of Code Section 409A and related Treasury guidance or Regulations based on the facts and circumstances surrounding the termination of the Director’s
service and whether the Company and the Director intended for the Director to provide significant services for the Company following such termination. 

 Section 2.4 of the Plan shall be deleted in its entirety and replaced by the following: 
  

	2.4	Termination of Participation and/or Deferrals. If the Plan Administrator determines in good faith that a Participant no longer qualifies as a member of a select group
of management or highly compensated employees, as membership in such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(l) of ERISA, the Plan Administrator shall have the right, in its sole discretion, to prevent the
Participant from making future deferral elections. 

  

 3 

 BALTIMORE COUNTY SAVINGS BANK, FSB 
 Deferred Compensation Plan 

  

 Section 7.1 of the Plan shall be deleted in its entirety and replaced by the following: 

  

	7.1	Retirement Benefit. A Participant who retires shall receive, as a Retirement Benefit, his or her vested Account Balance, calculated, in the case of a
Participant who is not a Specified Employee, as of the close of business on or around the last business day of the Plan Year in which the Participant retires, or in the case of a Specified Employee, as of the close of business on or around the last
business day of the month prior to payment commencing under Section 7.2(b). 

 Section 7.2 of the Plan shall be
deleted in its entirety and replaced by the following: 
  

	7.2	Payment of Retirement Benefit. 

  

	 	(a)	For Participants who are not Specified Employees. A Participant, in connection with his or her commencement of participation in the Plan, shall elect on an Election Form to
receive the Retirement Benefit in a lump sum or pursuant to an Annual Installment Method of up to twenty (20) years. If a Participant does not make any election with respect to the payment of the Retirement Benefit, then such benefit shall be
payable in a lump sum. For Participants that are not Specified Employees, the lump sum payment shall be made, or the installment payments shall commence, no later than sixty (60) days after the last day of the Plan Year in which the Participant
Retires. Remaining installments, if any, shall be paid no later than sixty (60) days after each anniversary the last day of the Plan Year in which the Participant Retires. 

  

	 	(b)	For Specified Employees. A Participant, in connection with his or her commencement of participation in the Plan, shall elect on an Election Form to receive the Retirement
Benefit in a lump sum or pursuant to an Annual Installment Method of up to twenty (20) years. If a Participant does not make any election with respect to the payment of the Retirement Benefit, then such benefit shall be payable in a lump sum.
For Participants that are Specified Employees, the lump sum payment shall be made, or the installment payments shall commence, at the later of: i) sixty (60) days after the last day of the Plan Year in which the Participant Retires; and ii) six
(6) months following Retirement. Remaining installments, if any, shall be paid no later than sixty (60) days after each anniversary the last day of the Plan Year in which the Participant Retires. 

  

 4 

 BALTIMORE COUNTY SAVINGS BANK, FSB 
 Deferred Compensation Plan 

  

 Section 8.2 of the Plan shall be deleted in its entirety and replaced by the following: 

  

	8.2	Payment of Termination Benefit. 

  

	 	(a)	For Participants who are not Specified Employees. The Termination Benefit shall be paid to the Participant in a lump sum no later than sixty (60) days after the last day
of the Plan Year in which the Participant experiences Termination of Employment. 

  

	 	(b)	For Specified Employees. For Participants that are Specified Employees, the Termination Benefit shall be paid to the Participant in a lump sum at the later of: i) sixty
(60) days after the last day of the Plan Year in which the Participant experiences Termination of Employment; and ii) six (6) months following Termination of Employment. 

 Sections 9.1 (a), 9.1 (b), 9.2(a), 9.2(b) and 9.2(c) of the Plan shall be deleted in their entirety and replaced by the following: 
  

	9.1	Disability Benefit. A Participant who experiences a Disability followed by a Termination of Employment prior to Retirement shall receive a Disability Benefit, which
shall be equal to his or her vested Account Balance, calculated at the end of the Plan Year upon which such Termination of Employment occurred. 

  

	9.2	Payment of Disability Benefit. 

  

	 	(a)	For Participants who are not Specified Employees. The Disability Benefit shall be paid to the Participant in a lump sum no later than sixty (60) days after the last day
of the Plan Year in which the Participant experiences Termination of Employment. 

  

	 	(b)	For Specified Employees. For Participants that are Specified Employees, the Disability Benefit shall be paid to the Participant in a lump sum at the later of: i) sixty
(60) days after the last day of the Plan Year in which the Participant experiences Termination of Employment; and ii) six (6) months following Termination of Employment. 

 The following Sections 9.3 and 9.4 shall be added to the Plan immediately following Section 9.2: 
  

	9.3	 Distributions Upon Income Inclusion Under Section 409A of the Code. If any amount is required to be included in income by the Participant prior
to receipt due to a failure of this Plan to meet the requirements of Code Section 409A and related Treasury guidance or Regulations, the Participant may petition the plan administrator for a distribution of that portion of the vested Account
Balance that is required to be included in the Participant’s income. Upon the grant of such a petition, which grant shall not be unreasonably withheld, the Company shall distribute to the Participant immediately available funds in an amount
equal to the portion of the vested Account Balance required to be included in income as a result of the failure of this Plan to meet the requirements of 

  

 5 

 BALTIMORE COUNTY SAVINGS BANK, FSB 
 Deferred Compensation Plan 

  

	 	 
Code Section 409A and related Treasury guidance or Regulations, which amount shall not exceed the Participant’s unpaid vested Account Balance. If
the petition is granted, such distribution shall be made within ninety (90) days of the date when the Participant’s petition is granted. Such a distribution shall affect and reduce the Participant’s benefits to be paid under this
Plan. 

  

	9.4	Change in Form or Timing of Distributions. All changes in the form or timing of distributions hereunder must comply with the following requirements. The changes:

  

	 	(a)	may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code and the regulations thereunder; 

  

	 	(b)	must, for benefits distributable under Section 5.1, be made at least twelve (12) months prior to the first scheduled distribution; 

  

	 	(c)	must, for benefits distributable under Sections 5.1, 6.1, 7.1, 8.2 and 9.2, delay the commencement of distributions for a minimum of five (5) years from the date the first
distribution was originally scheduled to be made; and 

  

	 	(d)	must take effect not less than twelve (12) months after the election is made. 

 Article 13 of the Plan shall be deleted in its entirety and replaced by the following: 
 Article 13

 Amendments and Termination 
  

	13.1	Amendments. The Company may amend this Plan unilaterally by written action. 

  

	13.2	Plan Termination Generally. The Company may terminate this Plan unilaterally by written action. Except as provided in Section 13.3, the termination of this Plan
shall not cause a distribution of benefits under this Plan. Rather, after such termination benefit distributions will be made at the earliest distribution event permitted under Articles 5, 6, 7, 8 or 9. 

  

	13.3	Plan Terminations Under Section 409A. Notwithstanding anything to the contrary in Section 13.2, if this Plan terminates in the following circumstances:

  

	 	(a)	Within thirty (30) days before or twelve (12) months after a Change in Control, provided that all distributions are made no later than twelve (12) months following
such termination of the Plan and further provided that all the Company’s arrangements which are substantially similar to the Plan are terminated so the Participant and all participants in the similar arrangements are required to receive all
amounts of compensation deferred under the terminated arrangements within twelve (12) months of the termination of the arrangements; 

  

	 	(b)	 Upon the Company’s dissolution or with the approval of a bankruptcy court provided that the amounts deferred under the Plan are included in the
Participant’s gross income in the latest of (i) the calendar year in which the Plan terminates; (ii) 

  

 6 

 BALTIMORE COUNTY SAVINGS BANK, FSB 
 Deferred Compensation Plan 

  

	 	 
the calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) the first calendar year in which the
distribution is administratively practical; or 

  

	 	(c)	Upon the Company’s termination of this and all other account balance plans (as referenced in Section 409A of the Code or the regulations thereunder), provided that all
distributions are made no earlier than twelve (12) months and no later than twenty-four (24) months following such termination, and the Company does not adopt any new account balance plans for a minimum of five (5) years following the
date of such termination; 

 the Company may distribute the vested Account Balance, determined as of the date of the termination
of the Plan, to the Participant in a lump sum subject to the above terms. 
  

	13.4	Plan Agreement. Despite the provisions of Sections 13.1 and 13.2 above, if a Participant’s Plan Agreement contains benefits or limitations that are not in this
Plan document, the Employer may only amend or terminate such provisions with the written consent of the Participant. 

  

	13.5	Effect of Payment. The full payment of the Participant’s vested Account Balance under Articles 5, 6, 7, 8, 9 and 10 of the Plan shall completely discharge
all obligations to a Participant and his or her designated Beneficiaries under this Plan and the Participant’s Plan Agreement shall terminate. 

 The following Section 18.21 shall be added to the Plan immediately following Section 18.20: 
  

	18.21	Compliance with Section 409A. This Plan shall at all times be administered and the provisions of this Plan shall be interpreted consistent with the
requirements of Section 409A of the Code and any and all regulations thereunder, including such regulations as may be promulgated after the Effective Date of this Plan. 

 IN WITNESS OF THE ABOVE, the Company hereby consents to this First Amendment. 
  

			
	 Baltimore County Savings Bank

		
	 By
	 	 /s/ David M. Meadows

	 Title
	 	 EVP and Secretary

  

 7Form of Indenture

 Exhibit 4.8 
 Form of Indenture 
 IMMUNICON CORPORATION 
 ISSUER 
 and 
 [                                      
  ] 
 INDENTURE TRUSTEE 
 INDENTURE 
 Dated as of ________, _____ 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE I	  	DEFINITIONS AND INCORPORATION BY REFERENCE	  	1
			
	Section 1.01	  	Definitions	  	1
	Section 1.02	  	Other Definitions	  	5
	Section 1.03	  	Incorporation by Reference of Trust Indenture Act	  	5
	Section 1.04	  	Rules of Construction	  	6
			
	ARTICLE II	  	THE SECURITIES	  	6
			
	Section 2.01	  	Issuable in Series	  	6
	Section 2.02	  	Establishment of Terms of Series of Securities	  	6
	Section 2.03	  	Execution and Authentication	  	8
	Section 2.04	  	Registrar and Paying Agent	  	9
	Section 2.05	  	Paying Agent to Hold Money in Trust	  	10
	Section 2.06	  	Holder Lists	  	10
	Section 2.07	  	Transfer and Exchange	  	10
	Section 2.08	  	Mutilated, Destroyed, Lost and Stolen Securities	  	10
	Section 2.09	  	Outstanding Securities	  	11
	Section 2.10	  	Treasury Securities	  	11
	Section 2.11	  	Temporary Securities	  	12
	Section 2.12	  	Cancellation	  	12
	Section 2.13	  	Defaulted Interest	  	12
	Section 2.14	  	Global Securities	  	12
	Section 2.15	  	CUSIP Numbers	  	13
			
	ARTICLE III	  	REDEMPTION	  	14
			
	Section 3.01	  	Notice to Trustee	  	14
	Section 3.02	  	Selection of Securities to be Redeemed	  	14
	Section 3.03	  	Notice of Redemption	  	14
	Section 3.04	  	Effect of Notice of Redemption	  	15
	Section 3.05	  	Deposit of Redemption Price	  	15
	Section 3.06	  	Securities Redeemed in Part	  	15

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	ARTICLE IV	  	COVENANTS	  	15
			
	Section 4.01	  	Payment of Principal and Interest	  	15
	Section 4.02	  	SEC Reports	  	15
	Section 4.03	  	Compliance Certificate	  	16
	Section 4.04	  	Stay, Extension and Usury Laws	  	16
			
	ARTICLE V	  	SUCCESSORS	  	16
			
	Section 5.01	  	When Company May Merge, Etc	  	16
	Section 5.02	  	Successor Corporation Substituted	  	16
			
	ARTICLE VI	  	DEFAULTS AND REMEDIES	  	17
			
	Section 6.01	  	Events of Default	  	17
	Section 6.02	  	Acceleration of Maturity; Rescission and Annulment	  	18
	Section 6.03	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	18
	Section 6.04	  	Trustee May File Proofs of Claim	  	19
	Section 6.05	  	Trustee May Enforce Claims Without Possession of Securities	  	20
	Section 6.06	  	Application of Money Collected	  	20
	Section 6.07	  	Limitation on Suits	  	20
	Section 6.08	  	Unconditional Right of Holders to Receive Principal and Interest	  	21
	Section 6.09	  	Restoration of Rights and Remedies	  	21
	Section 6.10	  	Rights and Remedies Cumulative	  	21
	Section 6.11	  	Delay or Omission Not Waiver	  	21
	Section 6.12	  	Control by Holders	  	21
	Section 6.13	  	Waiver of Past Defaults	  	22
	Section 6.14	  	Undertaking for Costs	  	22
			
	ARTICLE VII	  	TRUSTEE	  	22
			
	Section 7.01	  	Duties of Trustee	  	22
	Section 7.02	  	Rights of Trustee	  	24
	Section 7.03	  	Individual Rights of Trustee	  	24
	Section 7.04	  	Trustee’s Disclaimer	  	25
	Section 7.05	  	Notice of Defaults	  	25
	Section 7.06	  	Reports by Trustee to Holders	  	25
	Section 7.07	  	Compensation and Indemnity	  	25

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	Section 7.08	  	Replacement of Trustee	  	26
	Section 7.09	  	Successor Trustee by Merger, etc	  	27
	Section 7.10	  	Eligibility; Disqualification	  	27
	Section 7.11	  	Preferential Collection of Claims Against Company	  	27
			
	ARTICLE VIII	  	SATISFACTION AND DISCHARGE; DEFEASANCE	  	27
			
	Section 8.01	  	Satisfaction and Discharge of Indenture	  	27
	Section 8.02	  	Application of Trust Funds; Indemnification	  	28
	Section 8.03	  	Legal Defeasance of Securities of any Series	  	29
	Section 8.04	  	Covenant Defeasance	  	30
	Section 8.05	  	Repayment to Company	  	31
	Section 8.06	  	Reinstatement	  	31
			
	ARTICLE IX	  	AMENDMENTS AND WAIVERS	  	32
			
	Section 9.01	  	Without Consent of Holders	  	32
	Section 9.02	  	With Consent of Holders	  	33
	Section 9.03	  	Limitations	  	33
	Section 9.04	  	Compliance with Trust Indenture Act	  	34
	Section 9.05	  	Revocation and Effect of Consents	  	34
	Section 9.06	  	Notation on or Exchange of Securities	  	34
	Section 9.07	  	Trustee Protected	  	34
			
	ARTICLE X	  	MISCELLANEOUS	  	34
			
	Section 10.01	  	Trust Indenture Act Controls	  	34
	Section 10.02	  	Notices	  	35
	Section 10.03	  	Communication by Holders with Other Holders	  	35
	Section 10.04	  	Certificate and Opinion as to Conditions Precedent	  	35
	Section 10.05	  	Statements Required in Certificate or Opinion	  	36
	Section 10.06	  	Rules by Trustee and Agents	  	36
	Section 10.07	  	Legal Holidays	  	36
	Section 10.08	  	No Recourse Against Others	  	36
	Section 10.09	  	Counterparts	  	36
	Section 10.10	  	Governing Laws	  	36

  

 -iii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	Section 10.11	  	No Adverse Interpretation of Other Agreements	  	37
	Section 10.12	  	Successors	  	37
	Section 10.13	  	Severability	  	37
	Section 10.14	  	Table of Contents, Headings, Etc	  	37
	Section 10.15	  	Securities in a Foreign Currency	  	37
	Section 10.16	  	Judgment Currency	  	37
			
	ARTICLE XI	  	SINKING FUNDS	  	38
			
	Section 11.01	  	Applicability of Article	  	38
	Section 11.02	  	Satisfaction of Sinking Fund Payments with Securities	  	38
	Section 11.03	  	Redemption of Securities for Sinking Fund	  	39

  

 -iv- 

 IMMUNICON CORPORATION 
 Reconciliation and tie between Trust Indenture Act of 1939 and 
 Indenture, dated as of_______, ____

  

					
	Section 310	  	(a)(1)	  	7.10
		  	(a)(2)	  	7.10
		  	(a)(3)	  	NOT
APPLICABLE
		  	(a)(4)	  	NOT
APPLICABLE
		  	(a)(5)	  	7.10
		  	(b)	  	7.10
	Section 311	  	(a)	  	7.11
		  	(b)	  	7.11
		  	(c)	  	NOT
APPLICABLE
	Section 312	  	(a)	  	2.06
		  	(b)	  	10.03
		  	(c)	  	10.03
	Section 313	  	(a)	  	7.06
		  	(b)(1)	  	7.06
		  	(b)(2)	  	7.06
		  	(c)(1)	  	7.06
		  	(d)	  	7.06
	Section 314	  	(a)	  	4.02, 10.05
		  	(b)	  	NOT
APPLICABLE
		  	(c)(1)	  	10.04
		  	(c)(2)	  	10.04
		  	(c)(3)	  	NOT
APPLICABLE
		  	(d)	  	NOT
APPLICABLE
		  	(e)	  	10.05
		  	(f)	  	NOT
APPLICABLE
	Section 315	  	(a)	  	7.01
		  	(b)	  	7.05
		  	(c)	  	7.01
		  	(d)	  	7.01
		  	(e)	  	6.14
	Section 316	  	(a)	  	2.09
		  	(a)(1)(a)	  	6.12
		  	(a)(1)(b)	  	6.13
		  	(b)	  	6.08
	Section 317	  	(a)(1)	  	6.03
		  	(a)(2)	  	6.04
		  	(b)	  	2.05
	Section 318	  	(a)	  	10.01

  

 -v- 

 Indenture dated as of_______, ____ between Immunicon Corporation, a Delaware corporation
(“Company”), and _______, a _______ corporation, as trustee (“Trustee”). 
 Each party agrees
as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture. 
 ARTICLE I 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.01 Definitions. 
 “Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders
specified herein or therein and which are owing to such Holders. 
 “Affiliate” of any specified person means any other
person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person,
whether through the ownership of voting securities or by agreement or otherwise. 
 “Agent” means any Registrar, Paying
Agent or Service Agent. 
 “Applicable Procedures” means, with respect to any transfer or transaction involving a Global
Security or beneficial interest therein, the rules and procedures of DTC or any successor Depositary, in each case to the extent applicable to such transaction and as in effect from time to time. 
 “Authorized Newspaper” means a newspaper in an official language of the country of publication customarily published at least once a day
for at least five days in each calendar week and of general circulation in the place in connection with which the term is used. If it shall be impractical in the opinion of the Trustee to make any publication of any notice required hereby in an
Authorized Newspaper, any publication or other notice in lieu thereof that is made or given by the Trustee shall constitute a sufficient publication of such notice. 
 “Bearer” means anyone in possession from time to time of a Bearer Security. 
 “Bearer Security” means any Security, including any interest coupon appertaining thereto, that does not provide for the identification of the Holder thereof. 
 “Board of Directors” means the Board of Directors of the Company or any duly authorized committee thereof. 

 “Board Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee. 
 “Business Day” means, unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a
particular Series, any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 
 “Capital Interests” means any and all shares, interests, participations, rights or other equivalents (however designated) of capital
stock, including, without limitation, with respect to partnerships, partnership interests (whether general or limited) and any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or
distributions of assets of, such partnership. 
 “Company” means the party named as such above until a successor replaces it
and thereafter means the successor. 
 “Company Order” means a written order signed in the name of the Company by two
Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer. 
 “Company Request” means a written request signed in the name of the Company by its Chief Executive Officer, Chief Financial Officer or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an
Assistant Secretary, and delivered to the Trustee. 
 “Corporate Trust Office” means the office of the Trustee at which at
any particular time its corporate trust business shall be principally administered. 
 “Default” means any event which is,
or after notice or passage of time or both would be, an Event of Default. 
 “Depository” means, with respect to the
Securities of any Series issuable or issued in whole or part in the form of one or more Global Securities, the person designated as Depositary for such Series by the Company, which Depository shall be a clearing agency registered under the Exchange
Act; and if at any time there is more than one such person, “Depository” as used with respect to the Securities of any Series shall mean the Depository with respect to the Securities of such Series. 
 “Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable
upon declaration of acceleration of the maturity thereof pursuant to Section 6.02. 
 “Dollars” and
“$” means the currency of The United States of America. 
 “DTC” means the Depository Trust Company, a New
York corporation. 
  

 2 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 
 “Foreign Currency” means any currency or currency unit issued by a government other
than the government of The United States of America. 
 “Foreign Government Obligations” means, with respect to Securities
of any Series that are denominated in a Foreign Currency, (i) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or
(ii) obligations of a person controlled or supervised by or acting as an agency or instrumentality of such government the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in
either case under clauses (i) or (ii), are not callable or redeemable at the option of the issuer thereof. 
 “GAAP”
means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Standards Board or in such other statements by such other entity as have been approved by a significant
segment of the accounting profession. 
 “Global Security” or “Global Securities” means a Security or
Securities, as the case may be, in the form established pursuant to Section 2.02 evidencing all or part of a Series of Securities, issued to the Depository for such Series or its nominee, and registered in the name of such Depository or
nominee. 
 “Holder” means a person in whose name a Security is registered or the holder of a Bearer Security. 

“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of particular
Series of Securities established as contemplated hereunder. 
 “interest” with respect to any Discount Security which by its
terms bears interest only after Maturity means interest payable after Maturity. 
 “Maturity,” when used with respect to any
Security or installment of principal thereof, means the date on which the principal of such Security or such installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of
acceleration, call for redemption or otherwise. 
 “Officer” means the Chief Executive Officer, Chief Financial Officer, any
Vice-President, the Treasurer, the Secretary, any Assistant Treasurer or any Assistant Secretary of the Company. 
 “Officers’
Certificate” means a certificate signed by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer. 
  

 3 

 “Opinion of Counsel” means a written opinion of legal counsel who is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Company. 
 “person” means any individual,
corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional
Amounts in respect of, the Security. 
 “Responsible Officer” means any officer of the Trustee in its Corporate Trust Office
with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter is referred because of his or her knowledge of and
familiarity with a particular subject. 
 “SEC” means the Securities and Exchange Commission. 
 “Securities” means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under this
Indenture. 
 “Series” or “Series of Securities” means each series of debentures, notes or other debt
instruments of the Company created pursuant to Sections 2.01 and 2.02 hereof. 
 “Stated Maturity” means when used with
respect to any Security or any installment of principal thereof or interest thereon, the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable.

 “Subsidiary” means, with respect to any person, any corporation, association or other business entity of which more than
50% of the total voting power of shares of Capital Interests entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof or, in the case of a partnership, more than 50% of the
partners’ Capital Interests (considering all partners’ Capital Interests as a single class), is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of such person or combination
thereof. 
 “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb) as in effect on the date of
this Indenture and the rules and regulations promulgated thereunder; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act as so amended. 
 “Trustee” means the person named as the “Trustee” in the first paragraph of this
instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each person who is then a Trustee hereunder, and if at any time there is more than one
such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series. 
  

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 “U.S. Government Obligations” means securities which are (i) direct obligations of
The United States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality of The United States of America the payment of
which is unconditionally guaranteed as a full faith and credit obligation by The United States of America, and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or
trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt,
provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation
evidenced by such depository receipt. 
 Section 1.02 Other Definitions. 
  

			
	 TERM
	  	DEFINED IN
SECTION
	 “Bankruptcy Law”
	  	6.01
	 “Custodian”
	  	6.01
	 “Event of Default”
	  	6.01
	 “Judgment Currency”
	  	10.16
	 “Legal Holiday”
	  	10.07
	 “mandatory sinking fund payment”
	  	11.01
	 “Market Exchange Rate”
	  	10.15
	 “New York Banking Day”
	  	10.16
	 “optional sinking fund payment”
	  	11.01
	 “Paying Agent”
	  	2.04
	 “Registrar”
	  	2.04
	 “Required Currency”
	  	10.16
	 “Service Agent”
	  	2.04
	 “successor person”
	  	5.01

 Section 1.03 Incorporation by Reference of Trust Indenture Act. 
 Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following
TIA terms used in this Indenture have the following meanings: 
 “Commission” means the SEC. 
 “indenture securities” means the Securities. 
 “indenture security holder” means a Holder. 
 “indenture to be qualified”
means this Indenture. 
 “indenture trustee” or “institutional trustee” means the Trustee. 
  

 5 

 “obligor” on the indenture securities means the Company and any successor obligor upon
the Securities. 
 All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined
by SEC rule under the TIA and not otherwise defined herein are used herein as so defined. 
 Section 1.04 Rules of Construction. 

 Unless the context otherwise requires: 
 (a) a term has the meaning assigned to it; 
 (b) an accounting term not otherwise defined has the meaning
assigned to it in accordance with generally accepted accounting principles; 
 (c) references to “generally accepted accounting
principles” and “GAAP” shall mean generally accepted accounting principles in effect as of the time when and for the period as to which such accounting principles are to be applied; 
 (d) “or” is not exclusive; 
 (e)
words in the singular include the plural, and in the plural include the singular; and 
 (f) provisions apply to successive events and
transactions. 
 ARTICLE II 
 THE SECURITIES 
 Section 2.01 Issuable in Series. The aggregate principal amount of Securities that may be
authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth or determined in the manner provided in a Board Resolution,
supplemental indenture or Officers’ Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution,
Officers’ Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record
date or date from which interest shall accrue) are to be determined. Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.

 Section 2.02 Establishment of Terms of Series of Securities. At or prior to the issuance of any Securities within a Series,
the following shall be established (as to the Series generally, in the case of Subsection 2.02(a) and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.02(b) through 2.02(s) by or pursuant to a
Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture or an Officers’ Certificate: 
 (a) the form and title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other Series); 
  

 6 

 (b) the price or prices (expressed as a percentage of the principal amount thereof) at which the
Securities of the Series will be issued; 
 (c) any limit upon the aggregate principal amount of the Securities of the Series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.07, 2.08, 2.11, 3.06
or 9.06); 
 (d) the date or dates on which the principal of the Securities of the Series is payable; 
 (e) the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not
limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such
interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 
 (f) the
place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon
the Company in respect of the Securities of such Series and this Indenture may be served, and the method of such payment, if by wire transfer, mail or other means; 
 (g) if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the
Company; 
 (h) the obligation, if any, of the Company to redeem or purchase the Securities of the Series pursuant to any sinking fund or
analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation; 
 (i) the dates, if any, on which and the price or prices at which the Securities of the Series will be
repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 
 (j) if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable; 
 (k) if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to
Section 6.02; 
  

 7 

 (l) the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign
Currency, and the agency or organization, if any, responsible for overseeing such composite currency; 
 (m) the provisions, if any, relating
to any security provided for the Securities of the Series; 
 (n) any addition to or change in the Events of Default which applies to any
Securities of the Series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.02; 
 (o) any addition to or change in the covenants set forth in Articles IV or V which applies to Securities of the Series; 
 (p) the provisions, if any, relating to conversion of any Securities of such Series, including, if applicable, the securities into which the Securities
are convertible, the conversion price, the conversion period, provisions as to whether conversion will be mandatory, at the option of the Holders or at the option of the Company, the events requiring an adjustment of the conversion price and
provisions affecting conversion if such Series of Securities are redeemed; 
 (q) whether the Securities of such Series will be senior debt
securities or subordinated debt securities and, if applicable, a description of the subordination terms thereof; 
 (r) any depositaries,
interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if other than those appointed herein; and 
 (s) any other terms of the Securities of the Series (which may modify or delete any provision of this Indenture insofar as it applies to such Series). 
 All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if
so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officers’ Certificate referred to above, and, unless otherwise provided in such Board Resolution, a Series may be reopened, without the consent of the Holders,
for increases in the aggregate principal amount of such Series and issuances of additional Securities of such Series. 
 Section 2.03
Execution and Authentication. Two Officers shall sign the Securities for the Company by manual or facsimile signature. If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the
Security shall nevertheless be valid. A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this
Indenture. The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officers’ Certificate, upon receipt by the
Trustee of a Company Order. Such Company Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent or agents, which oral instructions shall be promptly confirmed in
writing. Each Security shall be dated the date 

  

 8 

 
of its authentication unless otherwise provided by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate. The aggregate
principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered
pursuant to Section 2.02, except as provided in Section 2.02 or 2.08. Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.02) shall be fully protected in relying on:
(a) the Board Resolution, supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of Securities
within that Series, (b) an Officers’ Certificate complying with Section 10.04 and (c) an Opinion of Counsel complying with Section 10.04. The Trustee shall have the right to decline to authenticate and deliver any Securities
of such Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee’s by its board of directors or trustees, executive committee or a trust committee of directors
and/or vice-presidents shall determine in good faith that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities. The Trustee may appoint an authenticating agent acceptable to the Company
to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the
same rights as an Agent to deal with the Company or an Affiliate of the Company. 
 Section 2.04 Registrar and Paying Agent. The
Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.02, an office or agency where Securities of such Series may be presented or surrendered for
payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands to or upon the Company in respect of the Securities of such Series
and this Indenture may be served (“Service Agent”). The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name
and address, and any change in the name or address, of each Registrar, Paying Agent or Service Agent. If at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee
with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands. The Company may also from time to time designate one or more co-registrars, additional paying agents or additional service agents and may from time to time rescind such designations; provided, however, that no such
designation or rescission shall in any manner relieve the Company of its obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified pursuant to Section 2.02 for Securities of any Series for such purposes. The
Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar, additional paying agent or additional service agent. The term “Registrar”
includes any co-registrar; the term “Paying Agent” includes any additional paying agent; and the term “Service Agent” includes any additional service agent. The Company hereby appoints the Trustee the initial Registrar, Paying
Agent and Service Agent for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued. 
  

 9 

 Section 2.05 Paying Agent to Hold Money in Trust. The Company shall require each Paying Agent
other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of Holders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series
of Securities, and will notify the Trustee of any default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may
require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money. If the Company or a
Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Holders of any Series of Securities all money held by it as Paying Agent. 
 Section 2.06 Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it
of the names and addresses of Holders of each Series of Securities and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least ten (10) days before each
interest payment date and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Holders of each Series of Securities. 
 Section 2.07 Transfer and Exchange. Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register
a transfer or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and
exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment
of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.06 or 9.06). Neither
the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening of business fifteen days immediately preceding the mailing of a notice of
redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such mailing, or (b) to register the transfer of or exchange Securities of any Series selected, called or being called for
redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part. 
 Section 2.08 Mutilated, Destroyed, Lost and Stolen Securities.  
 (a) If any mutilated Security is surrendered to the
Trustee, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding. If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save 

  

 10 

 
each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a
protected purchaser, the Company shall execute and upon its request the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding. In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new
Security, pay such Security. 
 (b) Upon the issuance of any new Security under this Section, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. Every new Security of any Series issued pursuant to this
Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be
entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series duly issued hereunder. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other
rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.09
Outstanding Securities. The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a Global Security
effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding. If a Security is replaced pursuant to Section 2.08, it ceases to be outstanding until the Trustee receives proof
satisfactory to it that the replaced Security is held by a protected purchaser. If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of the Company) holds on the Maturity of Securities of a Series money sufficient
to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue. A Security does not cease to be outstanding because the Company or an Affiliate of
the Company holds the Security. In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of a
Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof
pursuant to Section 6.02. 
 Section 2.10 Treasury Securities. In determining whether the Holders of the required principal
amount of Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company shall be disregarded, except that for the purposes of determining whether the
Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver, only Securities of a Series that the Trustee knows are so owned shall be so disregarded. 
  

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 Section 2.11 Temporary Securities. Until definitive Securities are ready for delivery, the
Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for
temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee upon request shall authenticate definitive Securities of the same Series and date of maturity in exchange for temporary Securities. Until so exchanged,
temporary securities shall have the same rights under this Indenture as the definitive Securities. 
 Section 2.12 Cancellation.
The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee
shall cancel all Securities surrendered for registration of transfer, exchange, payment, replacement or cancellation in accordance with its customary procedures and deliver such canceled Securities to the Company, unless the Company otherwise
directs; provided that the Trustee shall not be required to destroy Securities. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation. 
 Section 2.13 Defaulted Interest. If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted
interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Holders of the Series on a subsequent special record date. The Company shall fix the record date and payment date. At least ten
(10) days before the record date, the Company shall mail to the Trustee and to each Holder of the Series a notice that states the record date, the payment date and the amount of interest to be paid. The Company may pay defaulted interest in any
other lawful manner. 
 Section 2.14 Global Securities 
 (a) Terms of Securities. A Board Resolution, a supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities of a
Series shall be issued in whole or in part in the form of one or more Global Securities and the Depository for such Global Security or Securities. 
 (b) Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.07 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.07 of the Indenture for
Securities registered in the names of Holders other than the Depository for such Security or its nominee only if (i) such Depository notifies the Company that it is unwilling or unable to continue as Depository for such Global Security or if at
any time such Depository ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depository registered as a clearing agency under the Exchange Act within 90 days of such event,
(ii) the Company executes and delivers to the Trustee an Officers’ Certificate to the effect that such Global Security shall be so exchangeable or (iii) an Event of Default with respect to the Securities represented by such Global
Security shall have happened and be continuing. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depository shall direct in writing in an aggregate
principal amount equal to the principal amount of the Global Security with like tenor and terms. 
  

 12 

 (c) Except as provided in this Section 2.14(c), a Global Security may not be transferred except as a
whole by the Depository with respect to such Global Security to a nominee of such Depository, by a nominee of such Depository to such Depository or another nominee of such Depository or by the Depository or any such nominee to a successor Depository
or a nominee of such a successor Depository. 
 (d) Legend. Any Global Security issued hereunder shall bear a legend in substantially the
following form: 
 (e) “This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered
in the name of the Depository or a nominee of the Depository. This Security is exchangeable for Securities registered in the name of a person other than the Depository or its nominee only in the limited circumstances described in the Indenture, and
may not be transferred except as a whole by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a
nominee of such a successor Depository.” 
 (f) Acts of Holders. The Depository, as a Holder, may appoint agents and otherwise authorize
participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture. 
 (g) Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02, payment of the
principal of and interest, if any, on any Global Security shall be made to the Holder thereof. 
 (h) Consents, Declaration and Directions.
Except as provided in Section 2.14(g), the Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a
written statement of the Depository with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture. 
 (i) The Depository or its nominee, as registered owner of a Global Security, shall be the Holder of such Global Security for all purposes under the
Indenture and the Securities, and owners of beneficial interests in a Global Security shall hold such interests pursuant to the Applicable Procedures. Accordingly, any such owner’s beneficial interest in a Global Security will be shown only on,
and the transfer of such interest shall be effected only through, records maintained by the Depositary or its nominee and such owners of beneficial interests in a Global Security will not be considered the owners or holders thereof. 
 Section 2.15 CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so,
the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or
as contained in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The
Company shall promptly notify the Trustee of any change in “CUSIP” numbers of which the Company becomes aware. 
  

 13 

 ARTICLE III 
 REDEMPTION 
 Section 3.01 Notice to Trustee. The Company may, with respect to any Series
of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such
Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee of
the redemption date and the principal amount of Series of Securities to be redeemed. 
 Section 3.02 Selection of Securities to be
Redeemed. Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture or an Officers’ Certificate, if less than all the Securities of a Series are to be redeemed, the Trustee shall select the
Securities of the Series to be redeemed in any manner that the Trustee deems fair and appropriate. The Trustee shall make the selection from Securities of the Series outstanding not previously called for redemption. The Trustee may select for
redemption portions of the principal of Securities of the Series that have denominations larger than $1,000. Securities of the Series and portions of them it selects shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to
Securities of any Series issuable in other denominations pursuant to Section 2.02(j), the minimum principal denomination for each Series and integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called
for redemption also apply to portions of Securities of that Series called for redemption. 
 Section 3.03 Notice of Redemption. 

 (a) Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officers’
Certificate, at least 30 days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder whose Securities are to be redeemed and, if any Bearer Securities are outstanding,
publish on one occasion a notice in an Authorized Newspaper. The notice shall identify the Securities of the Series to be redeemed and shall state: 
 (i) the redemption date; 
 (ii) the redemption price; 
 (iii) the name and address of the Paying Agent; 
 (iv) that Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 (v) that interest on Securities of the Series called for redemption ceases to accrue on and after the redemption date;

  

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 (vi) the CUSIP number, if any; and 
 (vii) any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed.

 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its expense. 

Section 3.04 Effect of Notice of Redemption. Once notice of redemption is mailed or published as provided in Section 3.03, Securities
of a Series called for redemption become due and payable on the redemption date and at the redemption price. A notice of redemption may not be conditional. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price
plus accrued interest to the redemption date; provided that installments of interest whose Stated Maturity is on or prior to the redemption date shall be payable to the Holders of such Securities (or one or more predecessor Securities) registered at
the close of business on the relevant record date therefor according to their terms and the terms of this Indenture. 
 Section 3.05
Deposit of Redemption Price. On or before 10:00 a.m., New York City time, on the redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to
be redeemed on that date. 
 Section 3.06 Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part, the
Trustee shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered. 
 ARTICLE IV 
 COVENANTS 
 Section 4.01 Payment of Principal and Interest. The Company covenants and agrees for the benefit of the Holders of each Series of Securities
that it will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. 
 Section 4.02 SEC Reports. The Company shall, so long as any of the Securities are outstanding, electronically file with the Commission the
annual, quarterly and other periodic reports that the Company is required to file (or would be otherwise required to file) with the Commission pursuant to Sections 13 and 15(d) of the Exchange Act. The Company also shall comply with the other
provisions of TIA Section 314(a). Delivery of any reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained
therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificate). 
  

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 Section 4.03 Compliance Certificate. The Company shall, so long as any of the Securities are
outstanding, deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate stating whether or not to the knowledge of the signers thereof the Company is in default in the performance and
observance of any of the terms, provisions and conditions hereof (without regard to any period of grace or requirement of notice provided hereunder), and if a Default or Event of Default shall have occurred, specifying all such Defaults or Events of
Default and the nature and status thereof of which they may have knowledge. The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, within thirty (30) days after becoming aware of any Default or Event of
Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
 Section 4.04 Stay, Extension and Usury Laws. The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead or in any manner whatsoever claim or take the
benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture or the Securities and the Company (to the extent it may lawfully
do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the
execution of every such power as though no such law has been enacted. 
 ARTICLE V 
 SUCCESSORS 
 Section 5.01 When
Company May Merge, Etc. The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”) unless: 
 (a) the Company is the surviving corporation or the successor person (if other than the Company) is organized and validly existing under the laws of any
U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this Indenture; and 
 (b)
immediately after giving effect to the transaction, no Default or Event of Default shall have occurred and be continuing. 
 The Company
shall deliver to the Trustee prior to the consummation of the proposed transaction an Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this
Indenture. 
 Section 5.02 Successor Corporation Substituted. Upon any consolidation or merger, or any sale, lease, conveyance or
other disposition of all or substantially all of the assets of the Company in accordance with Section 5.01, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, lease,
conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor person has been named as the Company herein;
provided, however, that the predecessor Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities. 
  

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 ARTICLE VI 
 DEFAULTS AND REMEDIES 
 Section 6.01 Events of Default. 
 “Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events, unless in the
establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of Default: 
 (a) default in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default for a period of 30 days (unless the entire amount of such payment is deposited
by the Company with the Trustee or with a Paying Agent prior to the expiration of such period of 30 days); or 
 (b) default in the payment
of principal of any Security of that Series at its Maturity; or 
 (c) default in the performance or breach of any covenant or warranty of
the Company in this Indenture (other than a covenant or warranty for which the consequences of nonperformance or breach are addressed elsewhere in this Section 6.01 and other than a covenant or warranty that has been included in this Indenture
solely for the benefit of Series of Securities other than that Series), which default continues uncured for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the
Trustee by the Holders of not less than a majority in principal amount of the outstanding Securities of that Series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of
Default” hereunder; or 
 (d) the Company pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary case or proceeding; 
 (ii) consents to the entry of an order for relief against it in an involuntary case, 
 (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property, 
 (iv) makes a general assignment for the benefit of its creditors, or 
 (v) makes an admission by writing that it is generally unable to pay its debts as the same become due; or 
  

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 (e) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 (i) is for relief against the Company in an involuntary case, 
 (ii) appoints a Custodian of the Company or for all or substantially all of its property, or 
 (iii) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days; or 
 (f) any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture
hereto or an Officers’ Certificate, in accordance with Section 2.02(n). 
 The term “Bankruptcy Law” means Title
11 of the U.S. Code or any similar federal or state law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 Section 6.02 Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any Series at the time
outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)), then in every such case the Trustee or the Holders of not less than a majority in principal amount of the outstanding Securities of that
Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of
the Securities of that Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and accrued and unpaid
interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding
Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. At any time after such a declaration of acceleration with respect to any Series has been made and
before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the
Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series
which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13. No such rescission shall affect any subsequent Default or impair any right consequent thereon. 
 Section 6.03 Collection of Indebtedness and Suits for Enforcement by Trustee.  
 The Company covenants that if: 
 (a) default
is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or 
  

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 (b) default is made in the payment of principal of any Security at the Maturity thereof, 
 then the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on
such Securities for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any overdue interest at the rate or rates prescribed therefor in such Securities and, in
addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a
judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or
deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. 
 If an Event of Default with respect to any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such
appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted
herein, or to enforce any other proper remedy. 
 Section 6.04 Trustee May File Proofs of Claim. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, (a) to file and prove a claim for the whole amount of principal and interest owing and unpaid in
respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same, and any custodian,
receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making
of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or
the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
  

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 Section 6.05 Trustee May Enforce Claims Without Possession of Securities. All rights of
action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted
by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 
 Section 6.06 Application of Money Collected.  
 Any money collected by the Trustee pursuant to this Article shall be
applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only
partially paid and upon surrender thereof if fully paid: 
 First: To the payment of all amounts due the Trustee under Section 7.07; and

 Second: To the payment of the amounts then due and unpaid for principal of and interest on the Securities in respect of which or for the
benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and interest, respectively; and 
 Third: To the Company. 
 Section 6.07 Limitation on Suits. No Holder of any Security of any Series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee,
or for any other remedy hereunder, unless: 
 (a) such Holder has previously given written notice to the Trustee of a continuing Event of
Default with respect to the Securities of that Series; 
 (b) the Holders of at least a majority in principal amount of the outstanding
Securities of that Series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (c) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with
such request; 
 (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any
such proceeding; and 
 (e) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by
the Holders of a majority in principal amount of the outstanding Securities of that Series; 

  

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it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any
provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the
manner herein provided and for the equal and ratable benefit of all such Holders. 
 Section 6.08 Unconditional Right of Holders to
Receive Principal and Interest. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such
Security on the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the
consent of such Holder. 
 Section 6.09 Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any
proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any
determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as
though no such proceeding had been instituted. 
 Section 6.10 Rights and Remedies Cumulative. Except as otherwise provided with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.08, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or
remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any
right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 6.11 Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or
remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders
may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 6.12 Control by Holders. The Holders of a majority in principal amount of the outstanding Securities of any Series shall have the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that: 
 (a) such direction shall not be in conflict with any rule of law or with this Indenture, 
  

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 (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with
such direction, and 
 (c) subject to the provisions of Section 6.01, the Trustee shall have the right to decline to follow any such
direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability. 
 Section 6.13 Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the outstanding Securities of any Series
may on behalf of the Holders of all the Securities of such Series waive any past Default hereunder with respect to such Series and its consequences, except a Default (i) in the payment of the principal of or interest on any Security of such
Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration)
or (ii) in respect of a covenant or provision hereof which cannot be modified or amended without the consent of the Holder of each outstanding Security of such Series affected. Upon any such waiver, such Default shall cease to exist, and any
Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 
 Section 6.14 Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be
deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the
filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having
due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by
any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on
any Security on or after the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date). 
 ARTICLE VII 
 TRUSTEE 
 Section 7.01 Duties of Trustee.  
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use
under the circumstances in the conduct of such person’s own affairs. 
 (b) Except during the continuance of an Event of Default:

 (i) The Trustee need perform only those duties that are specifically set forth in this Indenture and no others. 

 

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 (ii) In the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon Officers’ Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any
such Officers’ Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officers’ Certificates and Opinions of Counsel to determine whether
or not they conform to the requirements of this Indenture. 
 (c) The Trustee may not be relieved from liability for its own negligent
action, its own negligent failure to act or its own willful misconduct, except that: 
 (i) This paragraph does not limit the
effect of paragraph (b) of this Section. 
 (ii) The Trustee shall not be liable for any error of judgment made in good
faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts. 
 (iii) The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal
amount of the outstanding Securities of such Series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with
respect to the Securities of such Series. 
 (d) Every provision of this Indenture that in any way relates to the Trustee is subject to
paragraph (a), (b) and (c) of this Section. 
 (e) The Trustee may refuse to perform any duty or exercise any right or power at the
request or direction of any Holder unless it receives indemnity satisfactory to it against any loss, liability or expense. 
 (f) The Trustee
shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any
of its duties, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk is not reasonably assured to it. 
 (h) The Paying Agent, the Registrar and any Service Agent or authenticating agent shall be entitled to the protections, immunities and standard of care
as are set forth in paragraphs (a), (b) and (c) of this Section with respect to the Trustee. 
  

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 Section 7.02 Rights of Trustee.  
 (a) The Trustee may rely on and shall be protected in acting or refraining from acting upon any document believed by it to be genuine and to have been
signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the
Trustee acts or refrains from acting, it may require an Officers’ Certificate. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate. 
 (c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. No Depository
shall be deemed an agent of the Trustee, and the Trustee shall not be responsible for any act or omission by any Depository. 
 (d) The
Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute negligence or bad faith. 

(e) The Trustee may consult with counsel, and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good faith and in reliance thereon. 
 (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 
 (g) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond,
debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit. 
 (h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge
thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and
this Indenture. 
 (i) The permissive rights of the Trustee enumerated herein shall not be construed as duties. 
 Section 7.03 Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities
and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to Sections 7.10 and 7.11. 
  

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 Section 7.04 Trustee’s Disclaimer. The Trustee makes no representation as to the
validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities other than its authentication.

 Section 7.05 Notice of Defaults. If a Default or Event of Default occurs and is continuing with respect to the Securities of
any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Holder of the Securities of that Series and, if any Bearer Securities are outstanding, publish on one occasion in an Authorized Newspaper, notice
of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default. Except in the case of a Default or Event of Default in payment of principal
of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of
Holders of that Series. 
 Section 7.06 Reports by Trustee to Holders. Within 60 days after May 15 in each year, the Trustee
shall transmit by mail to all Holders, as their names and addresses appear on the register kept by the Registrar and, if any Bearer Securities are outstanding, publish in an Authorized Newspaper, a brief report dated as of such May 15, in
accordance with, and to the extent required under, TIA Section 313. A copy of each report at the time of its mailing to Holders of any Series shall be filed with the SEC and each stock exchange on which the Securities of that Series are listed.
The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange. 
 Section 7.07
Compensation and Indemnity. The Company shall pay to the Trustee from time to time compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited
by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the
Trustee’s agents and counsel. The Company shall indemnify each of the Trustee and any predecessor Trustee (including the cost of defending itself) against any loss, liability or expense, including taxes (other than taxes based upon, measured by
or determined by the income of the Trustee) incurred by it except as set forth in this Section 7.07 in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which
it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay
for any settlement made without its consent, which consent shall not be unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee. The Company need not reimburse any expense or
indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through the negligence or bad faith of any such persons. To 

  

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secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or property
held or collected by the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series. When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(d) or
(e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. The provisions of this Section shall survive the resignation or removal of the Trustee and the
termination of this Indenture. 
 Section 7.08 Replacement of Trustee. A resignation or removal of the Trustee and appointment of
a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company at least
30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Company. The Company may
remove the Trustee with respect to Securities of one or more Series if: 
 (a) the Trustee fails to comply with Section 7.10;

 (b) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;

 (c) a Custodian or public officer takes charge of the Trustee or its property; or 
 (d) the Trustee becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor Trustee. 
 If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of
at least a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the
retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee
shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a notice of its succession to each Holder of each such
Series and, if any Bearer Securities are outstanding, publish such notice on one occasion in an Authorized Newspaper. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under
Section 7.07 hereof shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it prior to the date of such replacement. 
  

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 Section 7.09 Successor Trustee by Merger, etc. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee. 
 Section 7.10 Eligibility; Disqualification. This Indenture shall always have a Trustee who satisfies the requirements of TIA
Section 310(a)(1), (2) and (5). The Trustee shall comply with TIA Section 310(b). 
 Section 7.11 Preferential
Collection of Claims Against Company. The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA
Section 311(a) to the extent indicated. 
 ARTICLE VIII 
 SATISFACTION AND DISCHARGE; DEFEASANCE 
 Section 8.01 Satisfaction and
Discharge of Indenture.  
 This Indenture shall upon Company Order cease to be of further effect (except as hereinafter provided in this
Section 8.01), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
 (a) any of the following shall have occurred: 
 (i) no Securities have been issued hereunder;

 (ii) all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen
and that have been replaced or paid) have been delivered to the Trustee for cancellation; or 
 (iii) all such Securities not
theretofore delivered to the Trustee for cancellation (1) have become due and payable, or (2) will become due and payable at their Stated Maturity within one year, or (3) are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company; 
 and the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging the entire indebtedness on such Securities not theretofore delivered
to the Trustee for cancellation, for principal and interest to the date of such deposit (in the case of Securities which have become due and payable on or prior to the date of such deposit) or to the Stated Maturity or redemption date, as the case
may be; 
 (b) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
  

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 (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.07 and, if money shall have been deposited with the Trustee pursuant to clause
(a) of this Section, the provisions of Sections 2.04, 2.05, 2.07, 2.08, 8.01, 8.02 and 8.05 shall survive. 
 Section 8.02 Application of Trust Funds; Indemnification.  
 (a) Subject to the provisions of Section 8.05, all
money deposited with the Trustee pursuant to Section 8.01, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04 and all money received by the Trustee in
respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this
Indenture, to the payment, either directly or through any Paying Agent (other than the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money
has been deposited with or received by the Trustee or analogous payments as contemplated by Sections 8.03 or 8.04. 
 (b) The Company shall
pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Sections 8.03 or 8.04 or the interest and principal received
in respect of such obligations other than any payable by or on behalf of Holders. 
 (c) The Trustee shall deliver or pay to the Company from
time to time upon Company Request any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.03 or 8.04 which, in the opinion of a nationally recognized firm of independent certified public
accountants expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign
Government Obligations or money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign Government Obligations held under this Indenture. 
  

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 Section 8.03 Legal Defeasance of Securities of any Series. Unless this Section 8.03 is
otherwise specified, pursuant to Section 2.02(s), to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day
after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the
Company, shall, at Company Request, execute proper instruments acknowledging the same), except as to: 
 (a) the rights of Holders of
Securities of such Series to receive, from the trust funds described in subparagraph (d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Stated
Maturity of such principal or installment of principal or interest, and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with
the terms of this Indenture and the Securities of such Series; and 
 (b) the provisions of Sections 2.04, 2.05, 2.07, 2.08, 8.02, 8.03 and
8.05; and 
 (c) the rights, powers, trust and immunities of the Trustee hereunder; 
 provided that, the following conditions shall have been satisfied: 
 (d) with reference to this Section 8.03, the Company shall have deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c)) with the Trustee as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or
U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal
in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash,
sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, if any, on and
any mandatory sinking fund payments in respect of all the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due; 
 (e) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which
the Company is a party or by which it is bound; 
 (f) no Default or Event of Default with respect to the Securities of such Series shall
have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date; 
 (g) the Company
shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date
of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Securities of such Series will not
recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amounts and in the same manner and at the same times as would have been the
case if such deposit, defeasance and discharge had not occurred; 
  

 29 

 (h) the Company shall have delivered to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the
Company; 
 (i) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent provided for relating to the defeasance contemplated by this Section have been complied with; and 
 (j) such
defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act of 1940, as amended, unless such trust shall be registered under such Act or exempt from
registration thereunder. 
 Section 8.04 Covenant Defeasance. Unless this Section 8.04 is otherwise specified, pursuant to
Section 2.02(s), to be inapplicable to Securities of any Series, on and after the 91st day after the date of the deposit referred to in subparagraph (a) hereof, the Company may omit to comply with respect to the Securities of any Series
with any term, provision or condition set forth under Sections 4.02, 4.03, and 5.01 as well as any additional covenants specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate
delivered pursuant to Section 2.02 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series under Section 6.01) and the occurrence of any event specified in a
supplemental indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.02 and designated as an Event of Default shall not constitute a Default or Event of Default hereunder,
with respect to the Securities of such Series, provided that the following conditions shall have been satisfied: 
 (a) with reference to
this Section 8.04, the Company has deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c)) with the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as
security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities
of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and
without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent
certified public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of the Securities
of such Series on the dates such installments of interest or principal and such sinking fund payments are due; 
  

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 (b) such deposit will not result in a breach or violation of, or constitute a default under, this
Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 (c) no Default or Event of Default
with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date; 
 (d) the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that Holders of the Securities of such Series will not recognize
income, gain or loss for federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
deposit and covenant defeasance had not occurred; 
 (e) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with; and 
 (f) Such defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment
Company Act of 1940, as amended, unless such trust shall be registered under such Act or exempt from registration thereunder. 
 Section 8.05 Repayment to Company. The Trustee and the Paying Agent shall pay to the Company upon written request any money held by them for the payment of principal and interest that remains unclaimed for two years, and after
such time, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 
 Section 8.06 Reinstatement. If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any series in accordance with Section 8.01 by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Company under this Indenture with respect to the Securities of such
series and under the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with
Section 8.01; provided, however, that if the Company has made any payment of principal of, premium (if any) or interest on any Additional Amounts with respect to any Securities because of the reinstatement of its obligations, the Company shall
be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or the Paying Agent. 
  

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 ARTICLE IX 
 AMENDMENTS AND WAIVERS 
 Section 9.01 Without Consent of Holders. The Company and the
Trustee may amend or supplement this Indenture or the Securities of one or more Series without the consent of any Holder: 
 (a) to evidence
the succession of another person to the Company under this Indenture and the Securities and the assumption by any such successor person of the obligations of the Company hereunder and under the Securities; 
 (b) to add or remove covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the
benefit of less than all series of Securities, stating that such covenants are expressly being included for the benefit of such series) or to surrender any right or power herein conferred upon the Company provided such action does not adversely
affect the interests of the Company; 
 (c) to add any additional Events of Default; 
 (d) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities
in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; 
 (e) to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities, provided that any such
addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the
Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; 
 (f) to establish the forms or terms of the Securities of any series issued pursuant to the terms hereof; 
 (g) to cure any
ambiguity or correct any inconsistency in this Indenture; 
 (h) to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee; 
 (i) to qualify this Indenture under the Trust Indenture Act; 
 (j) to provide for uncertificated securities in addition to certificated securities; 
 (k) to supplement any provisions of this Indenture necessary to permit or facilitate the defeasance and discharge of any series of Securities, provided
that such action does not adversely affect the interests of the Holders of Securities of such series or any other series; and 
  

 32 

 (l) to comply with the rules or regulations of any securities exchange or automated quotation system on
which any of the Securities may be listed or traded. 
 Section 9.02 With Consent of Holders. The Company and the Trustee may
enter into a supplemental indenture with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection
with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying
in any manner the rights of the Holders of each such Series. Except as provided in Section 6.13, the Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents
obtained in connection with a tender offer or exchange offer for the Securities of such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series. It shall not be necessary for the
consent of the Holders of Securities under this Section 9.02 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. After a supplemental
indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Securities affected thereby and, if any Bearer Securities affected thereby are outstanding, publish on one occasion in an Authorized Newspaper, a
notice briefly describing the supplemental indenture or waiver. Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or
waiver. 
 Section 9.03 Limitations. Without the consent of each Holder affected, an amendment or waiver may not: 
 (a) reduce the amount of Securities whose Holders must consent to an amendment, supplement or waiver; 
 (b) reduce the rate of or extend the time for payment of interest (including default interest) on any Security; 
 (c) reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any
sinking fund or analogous obligation; 
 (d) reduce the principal amount of Discount Securities payable upon acceleration of the maturity
thereof; 
 (e) waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a
rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration); 

 

 33 

 (f) make the principal of or interest, if any, on any Security payable in any currency other than that
stated in the Security; 
 (g) make any change in Sections 6.08, 6.13, or 9.03; or 
 (h) waive a redemption payment with respect to any Security. 
 Section 9.04 Compliance with Trust Indenture Act. Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the TIA
as then in effect. 
 Section 9.05 Revocation and Effect of Consents. Until an amendment is set forth in a supplemental indenture
or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security,
even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the
supplemental indenture or the date the waiver becomes effective. Any amendment or waiver once effective shall bind every Holder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through
(h) of Section 9.03. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting
Holder’s Security. 
 Section 9.06 Notation on or Exchange of Securities. The Trustee may place an appropriate notation
about an amendment or waiver on any Security of any Series thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon request new Securities of that Series that reflect the
amendment or waiver. 
 Section 9.07 Trustee Protected. In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to the documents required by Section 10.04, and (subject to
Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee shall sign all supplemental indentures, except
that the Trustee need not sign any supplemental indenture that adversely affects its rights. 
 ARTICLE X 
 MISCELLANEOUS 
 Section 10.01
Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with another provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision shall control.

  

 34 

 Section 10.02 Notices.  
 (a) Any notice or communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in writing and
delivered in person or mailed by first-class mail or sent by telecopier transmission addressed as follows: 
 if to the Company: 

Immunicon Corporation 
 3401 Masons Mill
Road, Suite 100 
 Huntingdon Valley, Pennsylvania 19006 
 Attention: Chief Counsel 
 Telephone: (215) 830-0777 
 Facsimile: 
 if to the Trustee: 
 [            ] 
 (b) The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. Any notice or communication to a Holder shall be mailed by first-class
mail to his address shown on the register kept by the Registrar and, if any Bearer Securities are outstanding, published in an Authorized Newspaper. Failure to mail a notice or communication to a Holder of any Series or any defect in it shall not
affect its sufficiency with respect to other Holders of that or any other Series. If a notice or communication is mailed or published in the manner provided above, within the time prescribed, it is duly given, whether or not the Holder receives it.
If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 
 (c) Any
notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Company may, at the Company’s written request received by the Trustee not fewer than five (5) Business Days prior (or such
shorter period of time as may be acceptable to the Trustee) to the date on which such notice must be given or served, be given or served by the Trustee in the name of and at the expense of the Company. 
 Section 10.03 Communication by Holders with Other Holders. Holders of any Series may communicate pursuant to TIA Section 312(b) with
other Holders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA
Section 312(c). 
 Section 10.04 Certificate and Opinion as to Conditions Precedent. Upon any request or application by the
Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee: 
 (a) an Officers’
Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
  

 35 

 (b) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent
have been complied with. 
 Section 10.05 Statements Required in Certificate or Opinion. Each certificate or opinion with respect
to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA Section 314(a)(4)) shall comply with the provisions of TIA Section 314(e) and shall include: 
 (a) a statement that the person making such certificate or opinion has read such covenant or condition; 
 (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate
or opinion are based; 
 (c) a statement that, in the opinion of such person, he has made such examination or investigation as is necessary
to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (d) a statement
as to whether or not, in the opinion of such person, such condition or covenant has been complied with. 
 Section 10.06 Rules by
Trustee and Agents. The Trustee may make reasonable rules for action by or a meeting of Holders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions. 
 Section 10.07 Legal Holidays. Unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for
a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no
interest shall accrue for the intervening period. 
 Section 10.08 No Recourse Against Others. A director, officer, employee or
stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by
accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
 Section 10.09 Counterparts. This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. 
 Section 10.10 Governing Laws. This Indenture and the Securities will be
governed by, and construed in accordance with, the internal laws of the State of New York, without regard to conflict of law principles that would result in the application of any law other than the laws of the State of New York. 
  

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 Section 10.11 No Adverse Interpretation of Other Agreements. This Indenture may not be used
to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 10.12 Successors. All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the
Trustee in this Indenture shall bind its successor. 
 Section 10.13 Severability. In case any provision in this Indenture or in
the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 10.14 Table of Contents, Headings, Etc. The Table of Contents, Cross-Reference Table, and headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
 Section 10.15 Securities in a Foreign Currency. Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate delivered pursuant to Section 2.02 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in
aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated in a coin or currency other than
Dollars, then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be that amount of Dollars that could be obtained for such amount at the Market Exchange Rate at such
time. For purposes of this Section 10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City for cable transfers of that currency as published by the Federal Reserve Bank of New York. If such Market
Exchange Rate is not available for any reason with respect to such currency, the Trustee shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York as of the most recent available
date, or quotations from one or more major banks in The City of New York or in the country of issue of the currency in question or such other quotations as the Trustee, upon consultation with the Company, shall deem appropriate. The provisions of
this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this
Indenture. All decisions and determinations of the Trustee regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph shall be in its sole discretion and shall, in the absence of manifest error, to
the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Company and all Holders. 
 Section 10.16 Judgment Currency. The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the
sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be 

  

 37 

 
rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee
could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be the rate at
which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and
(b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in
any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments,
(ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so
expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal
holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 
 ARTICLE XI 
 SINKING FUNDS 
 Section 11.01 Applicability of Article. The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series, except as otherwise permitted or required by
any form of Security of such Series issued pursuant to this Indenture. The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund
payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount of
any sinking fund payment may be subject to reduction as provided in Section 11.02. Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the Securities of such Series.

 Section 11.02 Satisfaction of Sinking Fund Payments with Securities. The Company may, in satisfaction of all or any part of
any sinking fund payment with respect to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such
Securities previously called for mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Company or redeemed either at the
election of the Company pursuant to the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of
such Securities, provided that such Securities have not been previously so credited. Such Securities shall be received by the Trustee, together with an Officers’ Certificate with respect thereto, not later than 15 days prior to the date on
which the Trustee begins the process of selecting Securities for redemption, and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund 

  

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and the amount of such sinking fund payment shall be reduced accordingly. If as a result of the delivery or credit of Securities in lieu of cash payments
pursuant to this Section 11.02, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for redemption,
except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent
shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by the
Company having an unpaid principal amount equal to the cash payment required to be released to the Company. 
 Section 11.03
Redemption of Securities for Sinking Fund. Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture or Officers’ Certificate in respect of a particular Series of Securities) prior to each sinking
fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, the
portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that Series pursuant to Section 11.02, and the optional amount, if any,
to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days (unless otherwise indicated in the Board Resolution, Officers’
Certificate or supplemental indenture in respect of a particular Series of Securities) before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in
Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.03. Such notice having been duly given, the redemption of such Securities shall be
made upon the terms and in the manner stated in Sections 3.04, 3.05 and 3.06. 
  

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

			
	IMMUNICON CORPORATION
		
	By:	 	 
	Name:	 	
	Title:	 	

 [                            ], 
 as Trustee,st 
  

			
	
		
	By:	 	 
	Name:	 	
	Title:	 	

  

 40

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