Document:

EX10.1-2Q15

Exhibit 10.1

	
					
	Confidential
	 
	 
	 
	 

May 4, 2015 
Mr. Patrick D. Quarles
Dear Pat, 
On behalf of Celanese, I am pleased to offer you the role of Executive Vice President and President - Acetyls Chain of Celanese Corporation. This position includes additional responsibilities for our Global Integrated Supply Chain. Your position will be based in Dallas, TX.  
Base Salary
Your base salary will be $600,000 per year and will be payable on a bi-weekly basis in accordance with the Company's normal payroll practice. Your base pay will be reviewed annually by the Compensation and Management Development Committee (the "Compensation Committee") of the Board of Directors. 
Annual Bonus
You will be eligible to participate in the Company's annual bonus plan. Our bonus plan uses both a number of financial and non-financial measures and your personal performance to determine your actual bonus payout each year. Your 2015 annual bonus opportunity at target will be 80% of your base salary (the "Target", or $480,000), with a "Superior" opportunity for business performance of up to 160% of your base salary.  A personal performance modifier also currently allows for an additional adjustment between 0% and 150% of your planned bonus payout to reflect your individual performance relative to your annual objectives. Accordingly, the absolute maximum payout for the annual bonus will be 240% of your base salary. For 2015, you will be eligible for a full year's bonus (irrespective of your start date), based on actual Company and individual performance.
Sign-on Bonus
You will receive a one-time Sign-on Bonus cash payment in the amount of $100,000 less applicable deductions, which is payable through our normal payroll process within thirty (30) days of your start date. This amount will assist you in covering any initial transition expenses before your permanent relocation. Should you voluntarily end your employment with Celanese for any reason within two (2) years of your start date, Celanese reserves the right to seek full repayment of the Sign-on Bonus.  
Initial Equity Award
Celanese believes that an executive's interests should be aligned with shareholder interests, in part through equity ownership in the Company. As a result, you will receive an equity award as part of your initial offer package.  Your initial equity award will consist of the following: 
Time-vesting Restricted Stock Units (Time-vesting RSUs): You will receive an award of Time-vesting RSUs with a grant date fair value equal to approximately $3,000,000 that will vest one-third each year for three years beginning on the grant date. Once vested, the after-tax portion of these shares will be required to be held until the EVP stock ownership guideline has been met, as described later in this document.  
The Compensation Committee has approved this award, subject to your acceptance of this letter, with the grant date defined as your actual start date.  
Long-Term Incentive Awards 
Celanese currently delivers Long-Term Incentive (LTI) compensation to senior executives through annual grants of equity awards.  Annual LTI awards are planned to occur in the first quarter of each calendar year. The aggregate grant date value and mix of awards are based on a combination of salary level, individual contribution and performance, market levels of long-term incentive compensation and other factors. Each year, the Compensation Committee evaluates the level of awards and the mix among various stock-based vehicles. Going forward, you will be eligible for an LTI award consistent with your position at the Company. 

1

Your initial annual LTI target for your role will be $1,200,000. You will receive an annual grant in 2015 at this target amount, with the grant date being your actual start date.  

The complete terms of your initial equity award and annual LTI award will be included in two separate award agreements sent to you after the grant date.  All equity awards will be subject to stock ownership requirements applicable to the particular award and your position. You will be required to sign appropriate award agreements and the Celanese LTI Claw-back agreement in order to receive these awards. 
Change-in-Control Agreement; Severance
You will be eligible to receive change-in-control benefits as described in the Change-in-Control agreement that will be issued to you upon hire.  Generally the cash provision is equal to two (2) times the sum of your then current annualized base salary; and the higher of your Target Bonus in effect on the last day of the Fiscal Year that ended immediately prior to the year in which the Termination Date occurs, or the average of the cash bonuses paid by the Company to you for the three Fiscal Years preceding the Termination Date. Your long-term incentive awards are governed by the terms and conditions of the applicable individual award agreements.   
Your change-in-control agreement will include a "best-net" provision that states the Company will cut back change-in-control payments to the safe harbor limit only if you would receive a greater after-tax benefit than if the excise tax were paid by you on any excess parachute payment. In addition, you will not be entitled to any tax gross-up. 
You will be eligible for separation benefits under the Celanese Executive Severance Benefit Plan in the event of a termination, not for cause, unrelated to a change-in-control. Your benefits will be as provided in the Plan except that the multiple of base salary and bonus will be 1.5.
Stock Ownership Guidelines
In order to align our executives' interests with those of our shareholders, Celanese expects senior leaders to maintain equity ownership in the Company commensurate with their position.  You will be subject to stock ownership guidelines applicable to your position as in effect from time to time. The current EVP stock ownership guideline is equal to a value of three (3) times your annual base salary and you will have five (5) years to meet the guideline.  In computing compliance with our stock ownership guidelines, a portion of the value of any unvested Restricted Stock Unit awards (time- or performance-vested) granted to you as well as 100% of any Celanese stock that you beneficially own in your various Company and individual accounts will be included.  
Employee Benefits
During your employment, you will be entitled to participate in the Company's employee benefit plans as in effect from time to time, on the same basis as those benefits that are generally made available to other employees of the Company.  We offer medical and dental coverage, group life insurance and a retirement savings plan that includes Company contributions of up to 11% of base salary (comprised of 401(k) matching contributions of 100% on the first 6% of the employee's contributions plus a 5% Company retirement contribution), subject to IRS code restrictions. For Executives, we have a Supplemental Non-Qualified Savings Plan that allows for Company contributions on eligible pay that exceeds the IRS limits. 
Additionally, you will be eligible to participate in the Celanese Annual Executive Physical Program including an annual physical with the Baylor Personal Edge program.   
Relocation Assistance
Celanese will assist in your relocation to the Dallas area under the provisions of our relocation policy for new employees in effect at that time.  Generally, this policy provides for temporary living, the shipment of household goods, home sale and purchase assistance (for homeowners) and a lump-sum payment to assist with various miscellaneous expenses associated with your relocation.  The home sale and purchase assistance can be utilized for up to one (1) year after you relocate to the Dallas area. Details of our relocation policy will be provided to you under separate cover.   

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Should you voluntarily end your employment with Celanese for any reason within one (1) year of your start date, Celanese will seek full repayment of any relocation assistance provided to you. 
Vacation
You will be entitled to four (4) weeks annual vacation. Vacation availability for the first year of employment will be prorated based on your anticipated start date, in accordance with the Company's vacation policy. 
Restrictive Covenant Agreement (RCA)
As a condition of your employment, you will be required to execute a Restrictive Covenant Agreement (the "RCA") with the Company regarding protection and non-disclosure of confidential information and non--competition, non-solicitation and no hire.  A copy of the RCA will be provided to you under separate cover. 
Terms & Conditions of Employment
This offer letter constitutes the full terms and conditions of your employment with the Company. It supersedes any other oral or written promises that may have been made to you. 
Background Check & Drug Screen
This offer of employment is contingent upon the satisfactory completion of a background check and pre-employment examination including tests for substance abuse.  If not satisfactorily completed, the offer will be rescinded.  Arrangements for the Hair Drug screen will be coordinated through Concentra Medical Services (the required paperwork and instructions are enclosed).  This should be completed no later than two (2) weeks before your start date. 
Employment Verification
As required by law, we will need to verify and document your identity and eligibility for employment in the United States.  You can find a complete list of acceptable documents at http://www.uscis.gov/files/form/i-9.pdf. Please bring appropriate documentation on your start date. Do not complete the form in advance; you must complete it on your first day of employment.  
Pat, we are very enthusiastic about you joining our team and your contributions to Celanese. If these provisions are agreeable to you, please sign the enclosed copy of this letter and return it to me. 
Sincerely, 
/s/ Mark Rohr
Mark Rohr 
Chief Executive Officer, Celanese 	
					
	 
	 
	 
	 
	 

Acknowledgment of Offer: 
(Please check one) 
þ I accept the above described offer of employment with Celanese and understand that my employment status will be considered at-will and may be terminated at any time for any reason. Upon acceptance of this offer, I agree to keep the terms and conditions of this agreement confidential. 
o I decline your offer of employment. 

Signature:          /s/ Patrick D. Quarles                    Date:     18 May 15         
Patrick D. Quarles 
Anticipated Start Date: June 1, 2015 

3EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

KOHL’S CORPORATION 
 and 

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

Trustee 
  

 
 EIGHTH
SUPPLEMENTAL INDENTURE 
 Dated as of July 17, 2015 
  

 
 4.250% Notes due
2025 
 5.550% Notes due 2045 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE 1	  	 DEFINITIONS
	  	 	2	  
			
	        Section 1.1	  	         Definition of Terms
	  	 	2	  
			
	ARTICLE 2	  	 GENERAL TERMS AND CONDITIONS OF THE NOTES
	  	 	2	  
			
	        Section 2.1	  	         Designation and Principal Amount
	  	 	2	  
			
	        Section 2.2	  	         Maturity
	  	 	2	  
			
	        Section 2.3	  	         Further Issues
	  	 	2	  
			
	        Section 2.4	  	         Form and Payment
	  	 	3	  
			
	        Section 2.5	  	         Global Securities
	  	 	3	  
			
	        Section 2.6	  	         Definitive Form
	  	 	3	  
			
	        Section 2.7	  	         Interest
	  	 	3	  
			
	        Section 2.8	  	         Authorized Denominations
	  	 	4	  
			
	        Section 2.9	  	         Redemption
	  	 	4	  
			
	        Section 2.10	  	         Additional Event of Default
	  	 	4	  
			
	        Section 2.11	  	         Change of Control
	  	 	4	  
			
	        Section 2.12	  	         Appointment of Agents
	  	 	6	  
			
	ARTICLE 3	  	 FORM AND ORIGINAL ISSUE OF NOTES
	  	 	6	  
			
	        Section 3.1	  	         Form of Notes
	  	 	6	  
			
	        Section 3.2	  	         Original Issue of Notes
	  	 	6	  
			
	ARTICLE 4	  	 MISCELLANEOUS
	  	 	6	  
			
	        Section 4.1	  	         Definitions
	  	 	6	  
			
	        Section 4.2	  	         Ratification of Indenture
	  	 	9	  
			
	        Section 4.3	  	         Trustee Not Responsible for Recitals
	  	 	9	  
			
	        Section 4.4	  	         Governing Law
	  	 	9	  
			
	        Section 4.5	  	         Separability
	  	 	9	  
			
	        Section 4.6	  	         Counterparts
	  	 	9	  

 EIGHTH SUPPLEMENTAL INDENTURE, dated as of July 17, 2015 (this “Supplemental
Indenture”), between Kohl’s Corporation, a corporation duly organized and existing under the laws of the State of Wisconsin, having its principal office at N56 W17000 Ridgewood Drive, Menomonee Falls, Wisconsin 53051 (the
“Company”), and The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (as successor in interest to The Bank of New York), as trustee (the “Trustee”). 

WHEREAS, the Company executed and delivered the indenture, dated as of December 1, 1995, to the Trustee (as amended by the third
supplemental indenture, dated as of January 15, 2002, the “Indenture”), to provide for the issuance of the Company’s Securities, to be issued in one or more series; 

WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide for the establishment of two new series of its Notes under the
Indenture to be known as its “4.250% Notes due 2025” (the “2025 Notes”) and its “5.550% Notes due 2045” (the “2045 Notes”, and together with the 2025 Notes, the “Notes”), the form and substance of
such series and the terms, provisions and conditions thereof to be set forth as provided in the Indenture and this Supplemental Indenture; 

WHEREAS, the Board of Directors of the Company, pursuant to resolutions duly adopted on May 13, 2015, and the Pricing Committee of the
Board of Directors of the Company, pursuant to resolutions duly adopted on July 14, 2015, have duly authorized the issuance of the Notes, and have authorized the proper officers of the Company to execute any and all appropriate documents
necessary or appropriate to effect such issuance; 
 WHEREAS, this Supplemental Indenture is being entered into pursuant to the provisions
of Section 2.3 of the Indenture; 
 WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental
Indenture; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the Company, in accordance with its
terms, and to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and the execution and delivery of this Supplemental Indenture has been duly
authorized in all respects. 
 NOW THEREFORE, in consideration of the premises and the purchase and acceptance of the Notes by the Holders
thereof, and for the purpose of setting forth, as provided in the Indenture, the forms and terms of the Notes, the Company covenants and agrees, with the Trustee, as follows: 

 ARTICLE 1 

DEFINITIONS 
 Section 1.1 Definition of
Terms. 
 Unless the context otherwise requires: 

(a) each term defined in the Indenture has the same meaning when used in this Supplemental Indenture; 

(b) the singular includes the plural and vice versa; and 

(c) headings are for convenience of reference only and do not affect interpretation. 

ARTICLE 2 
 GENERAL TERMS AND
CONDITIONS OF THE NOTES 
 Section 2.1 Designation and Principal Amount. 

The 2025 Notes are hereby authorized and established as a series of Securities under the Indenture, designated as the “4.250% Notes due
July 17, 2025,” which is not limited in aggregate principal amount, and the 2045 Notes are hereby authorized and established as a series of Securities under the Indenture, designated as the “5.550% Notes due July 17, 2045,”
which is not limited in aggregate principal amount. The aggregate principal amount of each series of the Notes to be issued shall be as set forth in any Company order for the authentication and delivery of the Notes, pursuant to Section 2.4 of
the Indenture. The 2025 Notes and the 2045 Notes shall constitute two separate series of Securities for purposes of the Indenture and this Eighth Supplemental Indenture, including, without limitation, any provisions thereof and hereof relating to
waivers, amendments, redemptions and offers to purchase. 
 Section 2.2 Maturity. 

The Stated Maturity of principal for the 2025 Notes will be July 17, 2025, and the Stated Maturity of principal for the 2045 Notes will be
July 17, 2045. 
 Section 2.3 Further Issues. 

The Company may from time to time, without giving notice to or seeking the consent of the Holders of a series of the Notes, issue additional
Notes of such series. Any such additional Notes will have the same ranking, interest rate, maturity date and other terms as the Notes of such series, except for the issue date, and, in some cases, the public offering price and the first Interest
Payment Date. Any such additional Notes of such series, together with the other Notes of such series herein provided for, will constitute a single series of Securities under the Indenture. 

  
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 Section 2.4 Form and Payment. 

Principal of, premium, if any, and interest on the Notes shall be payable in U.S. dollars. 

Section 2.5 Global Securities. 
 Upon
the original issuance, each series of the Notes will be represented by one or more Global Securities registered in the name of Cede & Co., the nominee of The Depository Trust Company (“DTC”). The Company will issue the Notes in
denominations of $2,000 and integral multiples of $1,000 in excess thereof and will deposit the Global Securities with DTC or its custodian and register the Global Securities in the name of Cede & Co. 

Section 2.6 Definitive Form. 
 If
(a) the Depository is at any time unwilling or unable to continue as depositary and a successor depositary is not appointed by the Company within 90 days of notice thereof, (b) an Event of Default has occurred with regard to the Notes and
has not been cured or waived, or (c) the Company at any time and in its sole discretion determines not to have the Notes represented by Global Securities, the Company may issue the Notes in definitive form in exchange for such Global
Securities. In any such instance, an owner of a beneficial interest in Notes will be entitled to physical delivery in definitive form of Notes, equal in principal amount to such beneficial interest and to have Notes registered in its name as shall
be established in a Company order. 
 Section 2.7 Interest. 

(a) The 2025 Notes will bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from July 17, 2015 at
the rate of 4.250% per annum, payable semiannually; interest payable on each Interest Payment Date will include interest accrued from July 17, 2015, or from the most recent Interest Payment Date to which interest has been paid or duly
provided for; the Interest Payment Dates on which such interest shall be payable are January 17 and July 17, beginning on January 17, 2016; and the record date for the interest payable on any Interest Payment Date is the close of
business on January 1 or July 1, as the case may be, next preceding the relevant Interest Payment Date. 
 (b) The 2045 Notes will
bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from July 17, 2015 at the rate of 5.550% per annum, payable semiannually; interest payable on each Interest Payment Date will include interest
accrued from July 17, 2015, or from the most recent Interest Payment Date to which interest has been paid or duly provided for; the Interest Payment Dates on which such interest shall be payable are January 17 and July 17, beginning
on January 17, 2016; and the record date for the interest payable on any Interest Payment Date is the close of business on January 1 or July 1, as the case may be, next preceding the relevant Interest Payment Date. 

  
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 Section 2.8 Authorized Denominations. 

The Notes shall be issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

Section 2.9 Redemption. 
 The Notes
are subject to redemption at the option of the Company as set forth in each of the forms of Notes attached hereto as Exhibit A and Exhibit B. 

Section 2.10 Additional Event of Default. 

With respect to the Notes of each series, the term “Event of Default,” wherever used in the Indenture, shall mean, in addition to any
one of the events included in Section 6.1 of the Indenture, the following event (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary to be effected by operation of law or pursuant to any judgment,
decree or other order of any court or any order, rule or regulation or any administrative or governmental body): 
 “A default under
any bond, debenture, note or other evidence of Indebtedness for money borrowed by the Company (including a default with respect to Securities of any Series other than that Series) or under any mortgage, indenture or instrument under which there may
be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company (including this Indenture), which default shall have resulted in the acceleration of such Indebtedness, having an aggregate minimum principal
amount of $100,000,000, and such acceleration is not discharged within 10 days after notice thereof 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 at least 25% in
principal amount of the Outstanding Securities of that Series, such notice having specified such default and required the Company to cause the discharge of such acceleration and stating that such notice is a “Notice of Default” hereunder;
or” 
 Section 2.11 Change of Control. 

(a) Upon the occurrence of a Change of Control Repurchase Event, unless the Company has exercised its right to redeem all Notes of a series in
accordance with the redemption terms as set forth in such Notes, the Company shall make an irrevocable offer to each Holder of the Notes of such series to repurchase all or any part (in integral multiples of $1,000) of such Holder’s Notes at a
repurchase price in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but not including, the date of repurchase. 

(b) Within 30 days following any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but in
either case, after the public announcement of such Change of Control, the Company shall mail to each Holder of Notes, with a copy to the Trustee, a notice: 

  
 -4- 

 (i) describing the transaction or transactions that constitute or may constitute the Change of
Control Repurchase Event; 
 (ii) offering to repurchase all Notes tendered; 

(iii) setting forth the payment date for the repurchase of the Notes, which date will be no earlier than 30 days and no later than 60 days
from the date such notice is mailed; 
 (iv) if mailed prior to the date of consummation of the Change of Control, stating that the offer
to repurchase is conditioned on a Change of Control Repurchase Event occurring on or prior to the payment date specified in such notice; 

(v) disclosing that any Note not tendered for repurchase will continue to accrue interest; and 

(vi) specifying the procedures for tendering Notes. 

(c) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict
with the Change of Control Repurchase Event provisions of the Notes, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event
provisions of the Notes by virtue of such conflict. 
 (d) On the repurchase date following a Change of Control Repurchase Event, the
Company shall, to the extent lawful: 
 (i) accept for payment all Notes or portions thereof properly tendered pursuant to such offer; 

(ii) deposit with the Paying Agent an amount equal to the aggregate purchase price in respect of all Notes or portions thereof properly
tendered; and 
 (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an officers’
certificate of the Company stating the aggregate principal amount of Notes or portions thereof being repurchased by the Company. 
 (e) The
Paying Agent will promptly deliver to each Holder of Notes properly tendered the purchase price for such Notes, and the Trustee, upon the execution and delivery by the Company of such Notes, will promptly authenticate and deliver (or cause to be
transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess
thereof. 

  
 -5- 

 (f) The Company shall not be required to make an offer to repurchase the Notes upon a Change of
Control Repurchase Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn
under its offer. 
 Section 2.12 Appointment of Agents. 

The Trustee will initially be the Security Registrar and Paying Agent for the Notes and will act as such only at its offices in New York, New
York. 
 ARTICLE 3 
 FORM AND
ORIGINAL ISSUE OF NOTES 
 Section 3.1 Form of Notes. 

The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the forms set forth in Exhibit
A and Exhibit B hereto. 
 Section 3.2 Original Issue of Notes. 

The Notes may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and
the Trustee shall, upon Company order, authenticate and deliver such Notes as in such Company order provided. 
 ARTICLE 4 

MISCELLANEOUS 
 Section 4.1
Definitions. 
 For purposes of this Supplemental Indenture, the following terms shall have the following meanings: 

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

  
 -6- 

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

“Business day” means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking
institutions are generally authorized or required by law or regulation to close in the city of New York. 
 “Change of Control”
means the occurrence of any of the following: 
 (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by
way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s properties or assets and those of the Company’s subsidiaries taken as a whole to any “person” or
“group” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Company or one of the Company’s subsidiaries; 

(2) the adoption of a plan relating to the Company’s liquidation or dissolution; 

(3) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors; or 

(4) the consummation of any transaction or series of related transactions (including, without limitation, any merger or consolidation)
the result of which is that any “person” or “group” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Company or one of its wholly-owned subsidiaries, becomes the beneficial owner, directly or
indirectly, of more than 50% of the then outstanding number of shares of the Company’s Voting Stock, measured by voting power rather than number of shares. 

“Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term (as measured from the date of redemption) of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect to any
redemption date, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Company obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation. 

  
 -7- 

 “Continuing Directors” means, as of any date of determination, any member of the
Company’s Board of Directors who (1) was a member of such Board of Directors on the date of the issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a
director). 
 “Fitch” means Fitch Ratings Inc. and its successors. 

“Investment Grade” means BBB- or better by Fitch (or its equivalent under any successor rating categories of Fitch), Baa3 or better
by Moody’s (or its equivalent under any successor rating categories of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P) or the equivalent investment grade credit rating
from any additional Rating Agency or Rating Agencies selected by the Company. 
 “Moody’s” means Moody’s Investors
Service, Inc. and its successors 
 “Quotation Agent” means any Reference Treasury Dealer appointed by the Company. 

“Rating Agency” means (i) each of Fitch, Moody’s and S&P; and (ii) if any of Fitch, Moody’s or S&P
ceases to rate a series of the Notes or fails to make a rating of a series of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of
Section 3(a)(62) under the Exchange Act, selected by the Company as a replacement agency for Fitch, Moody’s or S&P, as the case may be. 

“Reference Treasury Dealer” means (i) Goldman, Sachs & Co. (or its affiliate that is a Primary Treasury Dealer) or its
successor; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer,
(ii) one other Primary Treasury Dealer selected by U.S. Bancorp Investments, Inc. or its successor, (iii) one other Primary Treasury Dealer selected by Wells Fargo Securities, LLC or its successor and (iv) one other Primary Treasury
Dealer selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing by such Reference Treasury Dealer at
5:00 p.m., New York City time, on the third business day preceding such redemption date. 
 “S&P” means Standard &
Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and its successors. 

  
 -8- 

 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to
the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.
The Trustee shall not obtain the Treasury Rate. 
 “Voting Stock” means, with respect to any “person” (as that term is
used in Section 13(d)(3) of the Exchange Act), capital stock of any class or kind the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of
such person, even if the right to do so has been suspended by the happening of such a contingency. 
 Section 4.2 Ratification of Indenture.

 The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture
shall be deemed part of the Indenture in the manner and to the extent herein and therein provided; provided that the provisions of this Supplemental Indenture apply solely with respect to the Notes. 

Section 4.3 Trustee Not Responsible for Recitals. 

The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness
thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 
 Section 4.4 Governing Law.

 This Supplemental Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York. 

Section 4.5 Separability. 
 In case
any one or more of the provisions contained in this Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other
provisions of this Supplemental Indenture or of the Notes, but this Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 

Section 4.6 Counterparts. 
 This
Supplemental Indenture may be executed in any number of counterparts each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 

  
 -9- 

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

			
	KOHL’S CORPORATION
		
	By:		 /s/ Kevin Mansell

	Name:		Kevin Mansell
	Title:		Chairman, President and Chief Executive Officer
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee

		
	By:		 /s/ Valere Boyd

	Name:		Valere Boyd
	Title:		Vice President

 Signature Page to Supplemental Indenture 

 EXHIBIT A 

FORM OF 2025 NOTES 

 Kohl’s Corporation 

4.250% Notes due 2025 
  

			
	 REGISTERED
 No.
R-    
		
$                        
              
 CUSIP No. 500255 AU8

 This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the
name of a Depositary or a nominee thereof. This Security may not be exchanged in whole or in part for a Security registered, and no transfer of this Security in whole or in part may be registered, in the name of any Person other than such Depositary
or a nominee thereof, except in the limited circumstances described in the Indenture. 
 KOHL’S CORPORATION, a corporation duly
organized and existing under the laws of Wisconsin (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO. or
registered assigns, the principal sum of
                    ($                ) on July 17, 2025, and to
pay interest thereon from July 17, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on January 17 and July 17 in each year, commencing January 17, 2016 at the
rate of 4.250% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the January 1 or July 1 (whether or not a Business Day), as the
case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name
this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of
this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 Payment of the principal of (and
premium, if any) and interest on this Security will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time
of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address
shall appear in the Security Register. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

							
	Dated:				KOHL’S CORPORATION
				
					By:		  

	  
				Name:		Kevin Mansell
					Title:		Chairman, President and Chief Executive Officer

  

			
	Attest:		
	
	  

	Name:		Richard D. Schepp
	Title:		Chief Administrative Officer and Secretary

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

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

As Trustee

				
					By:		  

							Authorized Officer

 [REVERSE OF SECURITY] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an indenture, dated as of December 1, 1995, between the Company and The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A., as successor to The Bank of New
York, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), as amended by the Third Supplemental Indenture, dated as of January 15, 2002, between the Company and the Trustee, and as
supplemented by the Eighth Supplemental Indenture, dated July 17, 2015, between the Company and the Trustee (herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on the face hereof and will initially be offered in the principal amount of
$                    . The Company may, without the consent of the Holders, issue additional Securities and thereby increase such principal amount in
the future, on the same terms and conditions and with the same CUSIP number as this Security. 
 The Securities of this series are subject
to redemption at the option of the Company, in whole or in part, at any time prior to April 17, 2025, at a redemption price equal to the greater of (i) 100% of the principal amount of the Securities to be redeemed or (ii) the sum of
the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Eighth Supplemental Indenture), plus 30 basis points, plus in either case accrued and unpaid interest thereon to the date of redemption. 

The Securities of this series are subject to redemption at the option of the Company, in whole or in part, at any time on or after
April 17, 2025, at a redemption price equal to 100% of the principal amount of the Securities to be redeemed, plus accrued and unpaid interest thereon to the date of redemption. 

Notwithstanding the foregoing, installments of interest on Securities that are due and payable on Interest Payment Dates falling on or prior
to a date of redemption will be payable on the Interest Payment Date to the Holder as of the close of business on the relevant record date in accordance with the terms of this Security and the Indenture. 

Notice of any redemption will be transmitted at least 30 days but not more than 60 days before the redemption date to each Holder of the
Securities to be redeemed by the Company or by the Trustee on behalf of the Company; provided that notice of redemption may be transmitted more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of
the Securities or a satisfaction and discharge of the Securities. Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Securities or portions thereof called for
redemption. If less than all of the Securities are to be redeemed, the Securities to be redeemed shall be selected by lot by The Depository Trust Company. 

  
 R-1 

 In the event of redemption of this Security in part only, a new Security or Securities of this
series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder, upon the cancellation hereof. 
 The
Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth
in the Indenture. 
 Events of Default with respect to the Securities of this series are as set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As
provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the
Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and the Trustee shall have failed to institute any such proceeding, for 60 days after receipt of such notice,
request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates
expressed herein. 

  
 R-2 

 No reference herein to the Indenture and no provision of this Security or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of
$1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a
different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

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

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 R-3 

 EXHIBIT B 

FORM OF 2045 NOTES 

 Kohl’s Corporation 

5.550% Notes due 2045 
  

			
	 REGISTERED
 No.
R-    
		
$                        
              
 CUSIP No. 500255 AV6

 This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the
name of a Depositary or a nominee thereof. This Security may not be exchanged in whole or in part for a Security registered, and no transfer of this Security in whole or in part may be registered, in the name of any Person other than such Depositary
or a nominee thereof, except in the limited circumstances described in the Indenture. 
 KOHL’S CORPORATION, a corporation duly
organized and existing under the laws of Wisconsin (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO. or
registered assigns, the principal sum of                     
($                ) on July 17, 2045, and to pay interest thereon from July 17, 2015 or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, semi-annually on January 17 and July 17 in each year, commencing January 17, 2016 at the rate of 5.550% per annum, until the principal hereof is paid or made available for payment. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on
the Regular Record Date for such interest, which shall be the January 1 or July 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for
will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner
not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained
for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at
the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

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

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

					
	Dated:		KOHL’S CORPORATION
			
			By:		  

	  
		Name:		Kevin Mansell
			Title:		Chairman, President and Chief Executive Officer

  

			
	Attest:		
	
	  

	Name:		Richard D. Schepp
	Title:		Chief Administrative Officer and Secretary

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

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

As Trustee

				
					By:		  

							Authorized Officer

 [REVERSE OF SECURITY] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an indenture, dated as of December 1, 1995, between the Company and The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A., as successor to The Bank of New
York, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), as amended by the Third Supplemental Indenture, dated as of January 15, 2002, between the Company and the Trustee, and as
supplemented by the Eighth Supplemental Indenture, dated July 17, 2015, between the Company and the Trustee (herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on the face hereof and will initially be offered in the principal amount of
$                    . The Company may, without the consent of the Holders, issue additional Securities and thereby increase such principal amount in
the future, on the same terms and conditions and with the same CUSIP number as this Security. 
 The Securities of this series are subject
to redemption at the option of the Company, in whole or in part, at any time prior to January 17, 2045, at a redemption price equal to the greater of (i) 100% of the principal amount of the Securities to be redeemed or (ii) the sum of
the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Eighth Supplemental Indenture), plus 35 basis points, plus in either case accrued and unpaid interest thereon to the date of redemption. 

The Securities of this series are subject to redemption at the option of the Company, in whole or in part, at any time on or after
January 17, 2045, at a redemption price equal to 100% of the principal amount of the Securities to be redeemed, plus accrued and unpaid interest thereon to the date of redemption. 

Notwithstanding the foregoing, installments of interest on Securities that are due and payable on Interest Payment Dates falling on or prior
to a date of redemption will be payable on the Interest Payment Date to the Holder as of the close of business on the relevant record date in accordance with the terms of this Security and the Indenture. 

Notice of any redemption will be transmitted at least 30 days but not more than 60 days before the redemption date to each Holder of the
Securities to be redeemed by the Company or by the Trustee on behalf of the Company; provided that notice of redemption may be transmitted more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of
the Securities or a satisfaction and discharge of the Securities. Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Securities or portions thereof called for
redemption. If less than all of the Securities are to be redeemed, the Securities to be redeemed shall be selected by lot by The Depository Trust Company. 

  
 R-1 

 In the event of redemption of this Security in part only, a new Security or Securities of this
series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder, upon the cancellation hereof. 
 The
Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth
in the Indenture. 
 Events of Default with respect to the Securities of this series are as set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As
provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the
Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and the Trustee shall have failed to institute any such proceeding, for 60 days after receipt of such notice,
request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates
expressed herein. 

  
 R-2 

 No reference herein to the Indenture and no provision of this Security or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of
$1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a
different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

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

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 R-3

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