Document:

Ex_47

		
			Exhibit 4.7
		

		
			DESCRIPTION OF THE 2.75% SENIOR NOTES DUE 2022
		

		
			The following summary of our 2.75% Senior Notes due 2022 (the “2022 Notes”) is based on and qualified by the Senior Indenture, dated as of March 15, 1997,  between John Deere Capital Corporation (“Capital Corporation”) and the Bank of New York Mellon (formerly known as The Bank of New York, successor Trustee to The Chase Manhattan Bank), as trustee (the “Trustee”), as supplemented by a first supplemental senior indenture, dated as of April 21, 2011 (such indenture, as so supplemented, the “Indenture”). This summary is not complete and is subject to, and qualified in its entirety by reference to, the actual Indenture. For a complete description of the terms and provisions of the Company’s notes, refer to the Indenture, which is filed as an exhibit to this Annual Report on Form 10-K. Throughout this exhibit, references to the “Company,” “we,” “our,” and “us” refer to John Deere Capital Corporation.
		

		
			We issued $500,000,000 total principal amount of the 2022 Notes on February 27, 2012.  The 2022 Notes are a part of our Medium-Term Notes, Series E, Due from 9 Months to 30 Years from the Date of Issue issued under the Indenture and pursuant to a Prospectus, dated April 21, 2011 (the “Prospectus”), and Prospectus Supplement, dated April 21, 2011 (together, the “Prospectus Supplement”), and Pricing Supplement No. 12, dated February 22, 2012.  The total initial public offering price of senior notes and subordinated notes that may be offered using the Prospectus Supplement was $18,000,000,000 or its equivalent in one or more foreign currencies, but this limit decreases  by the sale of other securities that are described in the Prospectus including any sales of JDCC InterNotes Due Nine Months or More from Date of Issue.
		

		
			The Indenture governs our obligations under the 2022 Notes. The terms of the 2022 Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the “TIA”). The 2022 Notes are subject to all such terms.
		

		
			The 2022 Notes are traded on the New York Stock Exchange under the symbol “DE22B.”
		

		
			We have issued a significant amount of other debt securities under the Indenture that have neither been registered pursuant to Section 12 of the Securities Exchange Act of 1934 nor listed on the NYSE. You should refer to our description of the amount of debt outstanding as disclosed in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in other filings with the Securities and Exchange Commission. The Indenture does not limit the amount of debt securities, including 2022 Notes, that the Company may issue under the Indenture.
		

		
			Defined terms used in this description but not in this summary have the meanings assigned to them in the Indenture.
		

		
			General
		

		
			The 2022 Notes will mature on March 15, 2022 (the “Maturity Date”). The 2022 Notes are senior securities of the Company and rank equally with all unsecured senior debt. The 2022 Notes are direct and unsecured obligations of the Company.
		

		
			The 2022 Notes are not subject to any sinking fund.
		

		
			The 2022 Notes were issued in a form of one or more registered Global Securities in minimum denominations of $1,000 with increments of $1,000 thereafter.
		

		
			
		

		
			

		 

		

			1

		

		

		
			Interest and Interest Rates
		

		
			Interest on the 2022 Notes accrues  at a rate of 2.75% per year accrued from February 27, 2012, and is payable semi-annually in arrears on March 15 and September 15 (each an “Interest Payment Date), commencing on September 15, 2012 and ending on the Maturity Date. We pay interest to those persons who were holders of record of the 2022 Notes on the fifteenth calendar day (whether or not a business day) next preceding the applicable Interest Payment Date, as the case may be (each a “Regular Record Date”).  Interest is computed on the basis of a 360-day year of twelve 30-day months.
		

		
			Interest on the 2022 Notes denominated in U.S. dollars will be paid by check mailed on an Interest Payment Date other than a Maturity Date to the persons entitled thereto to the addresses of such holders as they appear in the security register or, at our option, by wire transfer to a bank account maintained by the holder. The principal of, premium, if any, and interest on the 2022 Notes, together with interest accrued and unpaid thereon, due on the Maturity Date will be paid in immediately available funds upon surrender of such 2022 Notes at the corporate trust office of the Trustee in The City of New York, or, at our option, by wire transfer of immediately available funds to an account with a bank designated at least 15 calendar days prior to the Maturity Date by the applicable registered holder, provided the particular bank has appropriate facilities to receive these payments and the particular 2022 Note is presented and surrendered at the office or agency maintained by us for this purpose in the Borough of Manhattan, The City of New York, in time for the Trustee to make these payments in accordance with its normal procedures.
		

		
			Payment
		

		
			If the Maturity Date or any repayment date or an Interest Payment Date for the 2022 Notes is not any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required by law, regulation or executive order to close in The City of New York (a “Business Day”), the principal of, premium, if any, and interest on the 2022 Notes will be paid on the next Business Day, and no interest will accrue from and after the Maturity Date or Interest Payment Date. Interest on the 2022 Notes will be paid to holders of record as of each Regular Record Date.
		

		
			Book-entry and other indirect holders should consult their banks or brokers for information on how they will receive payments on their debt securities.
		

		
			Book-Entry Debt Securities
		

		
			The 2022 Notes are issued in book-entry form only. This means that the Company did not and will not issue actual 2022 Notes or certificates to each holder. Instead, it issued issue a global security representing the 2022 Notes with similar terms and the Global Security is held by or on behalf of the Depositary Trust Company (“DTC”) or its nominee. In order to own a beneficial interest in a 2022 Note, you must be an institution that has an account with DTC or have an account with an institution, such as a brokerage firm, that has an account with DTC.
		

		
			Payments of principal of, premium, if any, and interest on 2022 Notes represented by a global security will be made in same-day funds to DTC in accordance with arrangements then in effect between the Trustee and DTC.
		

		
			Optional Redemption, Repayment and Repurchase
		

		
			The 2022 Notes are not redeemable prior to the stated maturity, and holders do not have the option to elect repayment by the Company prior to the date of the stated maturity. The Company may at any time purchase 2022 Notes at any price in the open market or otherwise. The Company may hold, resell or surrender for cancellation any 2022 Notes that it purchases.
		

		
			
		

		
			

		 

		

			2

		

		

		
			Events of Default
		

		
			The term “Event of Default” in respect of the 2022 Notes means any of the following, among others:
		

		
			We do not pay the principal of, or any premium, if any, on the 2022 Notes on its due date.
		

		
			We do not pay interest on the 2022 Notes within 30 days of its due date.
		

		
			We remain in breach of a covenant in respect of the 2022 Notes for 60 days after we receive a written notice of default stating we are in breach. The notice must be sent by either the Trustee or holders of at least 25% of the principal amount of the 2022 Notes.
		

		
			We file for bankruptcy or certain other events of bankruptcy, insolvency or reorganization occur.
		

		
			An Event of Default for a particular series of any of our debt securities does not necessarily constitute an Event of Default for any other series of debt securities issued under the same or any other indenture. The Trustee may withhold notice to the holders of debt securities of any default, except in the payment of principal, premium or interest, if it considers the withholding of notice to be in the best interests of the holders (Section 601).
		

		
			Remedies if an Event of Default Occurs.  If an Event of Default has occurred and has not been cured, the Trustee or the holders of at least 25% in principal amount of the 2022 Notes may declare the entire principal amount of all the debt securities of the 2022 Notes to be due and immediately payable. This is called a declaration of acceleration of maturity. A declaration of acceleration of maturity may be canceled by the holders of a majority in principal amount of the 2022 Notes. (Section 502)
		

		
			Except in cases of default, where the Trustee has some special duties, the Trustee is not required to take any action under the applicable indenture at the request of any holders unless the holders offer the Trustee reasonable protection from expenses and liability (called an “indemnity”). (Section 602 and Section 315 of the TIA) If reasonable indemnity is provided, the holders of a majority in principal amount of the outstanding 2022 Notes may direct the time, method and place of conducting any lawsuit or other formal legal action seeking any remedy available to the Trustee. The Trustee may refuse to follow those directions in certain circumstances. (Section 512) No delay or omission in exercising any right or remedy will be treated as a waiver of that right, remedy or Event of Default. (Section 511)
		

		
			Before you are allowed to bypass your Trustee and bring your own lawsuit or other formal legal action or take other steps to enforce your rights or protect your interests relating to the 2022 Notes, the following must occur:
		

		
			You must give your Trustee written notice that an Event of Default has occurred and remains uncured.
		

		
			The holders of at least 25% in principal amount of all outstanding 2022 Notes must make a written request that the trustee take action because of the default and must offer reasonable indemnity to the Trustee against the cost and other liabilities of taking that action.
		

		
			The Trustee must not have taken action for 60 days after receipt of the above notice and offer of indemnity.
		

		
			The holders of a majority in principal amount of the 2022 Notes must not have given the trustee a direction inconsistent with the above notice during that 60-day period. (Section 507)
		

		
			However, you are entitled at any time to bring a lawsuit for the payment of money due on your 2022
		

		
			
		

		
			

		 

		

			3

		

		

		
			Notes on or after the due date. (Section 508)
		

		
			Holders of a majority in principal amount of the 2022 Notes may waive any past defaults other than
		

		
			the payment of principal, any premium or interest or
		

		
			in respect of a covenant that cannot be modified or amended without the consent of each holder. (Section 513)
		

		
			Book-entry and other indirect holders should consult their banks or brokers for information on how to give notice or direction to or make a request of the Trustee and how to declare or cancel an acceleration.
		

		
			Each year, we will furnish to each trustee a written statement of certain of our officers certifying that to their knowledge we are in compliance with the applicable indenture and the debt securities, or else specifying any default. (Section 1005)
		

		
			Merger or Consolidation
		

		
			Under the terms of the Indenture, we are generally permitted to consolidate or merge with another entity. We are also permitted to sell all or substantially all of our assets to another entity. (Section 801) However, we may not take any of these actions unless all the following conditions are met:
		

		
			Where we merge out of existence or sell our assets, the resulting entity must agree to be legally responsible for our obligations under the debt securities. (Section 801)
		

		
			The merger or sale of assets must not cause a default on the debt securities and we must not already be in default (unless the merger or sale would cure the default). For purposes of this no-default test, a default would include an Event of Default that has occurred and has not been cured, as described under “Events of Default” above. A default for this purpose would also include any event that would be an Event of Default if the requirements for giving us a notice of default or our default having to exist for a specific period of time were disregarded. (Section 801)
		

		
			Under the Indenture, no merger or sale of assets may be made if as a result any of our property or assets or any property or assets of one of our Subsidiaries would become subject to any mortgage, lien or other encumbrance unless either (i) the mortgage, lien or other encumbrance could be created pursuant to the limitation on liens covenant in the Indenture (see “Limitation on Liens” below) without equally and ratably securing the Indenture securities or (ii) the Indenture securities are secured equally and ratably with or prior to the debt secured by the mortgage, lien or other encumbrance. (Section 801 of the Indenture)
		

		
			We must deliver certain certificates and documents to the Trustee. (Section 801)
		

		
			We must satisfy any other requirements specified in the prospectus supplement or term sheet relating to the 2022 Notes.
		

		
			Modification or Waiver
		

		
			There are three types of changes we can make to the Indenture and the 2022 Notes issues thereunder.
		

		
			Changes Requiring Your Approval.  First, there are changes that we cannot make to the 2022 Notes without your specific approval. (Section 902) Following is a list of those types of changes:
		

		
			change the stated maturity of the principal of or interest on the 2022 Notes;
		

		
			
		

		
			

		 

		

			4

		

		

		
			reduce any amounts due on the 2022 Notes;
		

		
			reduce the amount of principal payable upon acceleration of the maturity of the 2022 Notes following a default;
		

		
			adversely affect any right of repayment at the holder’s option;
		

		
			change the place or currency of payment on the 2022 Notes;
		

		
			impair your right to sue for payment;
		

		
			reduce the percentage of holders of 2022 Notes whose consent is needed to modify or amend the Indenture;
		

		
			reduce the percentage of holders of 2022 Notes whose consent is needed to waive compliance with certain provisions of the Indenture or to waive certain defaults;
		

		
			modify any other aspect of the provisions of the Indenture dealing with supplemental indentures (Section 902), modification and waiver of past defaults (Section 513), changes to the quorum or voting requirements (Section 1504) or the waiver of certain covenants (Section 1007); and
		

		
			change any obligation we have to pay additional amounts.
		

		
			Changes Not Requiring Approval.   The second type of change does not require any vote by the holders of the 2022 Notes. This type is limited to clarifications and certain other changes that would not adversely affect holders of the 2022 Notes in any material respect. We also do not need any approval to make any change that affects only debt securities to be issued under the Indenture after the change takes effect.
		

		
			Changes Requiring Majority Approval.  Any other change to the Indenture and the 2022 Notes would require the following approval:
		

		
			If the change affects only the 2022 Notes,  it must be approved by the holders of a majority in principal amount of the 2022 Notes.
		

		
			If the change affects more than one series of debt securities issued under the Indenture, it must be approved by the holders of a majority in principal amount of all of the series affected by the change, with all affected series voting together as one class for this purpose.
		

		
			In each case, the required approval must be given by written consent. The holders of a majority in principal amount of all of the series of debt securities issued under an indenture, voting together as one class for this purpose, may waive our compliance with some of our covenants in that indenture. However, we cannot obtain a waiver of a payment default or of any of the matters covered by the bullet points included above under “—Changes Requiring Your Approval.”
		

		
			Further Details Concerning Voting.  Debt securities will not be considered outstanding, and therefore not eligible to vote, if we have deposited or set aside in trust money for their payment or redemption. Debt securities will also not be eligible to vote if they have been fully defeased as described below under “Defeasance—Full Defeasance”.
		

		
			We will generally be entitled to set any date as a record date for the purpose of determining the holders of outstanding indenture securities that are entitled to vote or take other action under the indentures. If we set a record date for a vote or other action to be taken by holders of one or more series, that vote or action may be taken only by persons who are holders of outstanding indenture securities of those series on the record date and must be taken within eleven months following the record date.
		

		
			
		

		
			

		 

		

			5

		

		

		
			Defeasance
		

		
			Covenant Defeasance.    Under current United States federal tax law, we can make the deposit described below and be released from some of the restrictive covenants in the Indenture. This is called “covenant defeasance.” In that event, you would lose the protection of those restrictive covenants but would gain the protection of having money and government securities set aside in trust to repay your debt securities.
		

		
			If the debt securities of the particular series are denominated in U.S. dollars, such as the 2022 Notes, we must deposit in trust for the benefit of all holders of such debt securities a combination of money and United States government or United States government agency notes or bonds that will generate enough cash to make interest, principal and any other payments on the debt securities on their various due dates.
		

		
			We must deliver to the trustee a legal opinion of our counsel confirming that, under current United States federal income tax law, we may make the above deposit without causing you to be taxed on the debt securities any differently than if we did not make the deposit and just repaid the debt securities ourselves at maturity.
		

		
			We must deliver to the trustee a legal opinion of our counsel stating that the above deposit does not require registration by us under the Investment Company Act of 1940, as amended, and a legal opinion and officers’ certificate stating that all conditions precedent to covenant defeasance have been complied with.
		

		
			If we accomplish covenant defeasance, you can still look to us for repayment of the debt securities if there were a shortfall in the trust deposit or the trustee is prevented from making payment. In fact, if one of the remaining Events of Default occurred (such as our bankruptcy) and the debt securities, including the 2022 Notes, became immediately due and payable, there might be a shortfall. Depending on the event causing the default, you may not be able to obtain payment of the shortfall.
		

		
			Full Defeasance.  If there is a change in United States federal tax law, as described below, we can legally release ourselves from all payment and other obligations on the debt securities of a particular series (called “full defeasance”) if we put in place the following other arrangements for you to be repaid:
		

		
			If the debt securities of the particular series are denominated in U.S. dollars, such as the 2022 Notes, we must deposit in trust for the benefit of all holders of such debt securities a combination of money  and United States government or United States government agency notes or bonds that will generate enough cash to make interest, principal and any other payments on the debt securities on their various due dates.
		

		
			We must deliver to the trustee a legal opinion confirming that there has been a change in current United States federal tax law or an Internal Revenue Service ruling that allows us to make the above deposit without causing you to be taxed on the debt securities any differently than if we did not make the deposit and just repaid the debt securities ourselves at maturity. (Section 1404) Under current United States federal tax law, the deposit and our legal release from the debt securities would be treated as though we paid you your share of the cash and notes or bonds at the time the cash and notes or bonds were deposited in trust in exchange for your debt securities and you would recognize gain or loss on the debt securities at the time of the deposit.
		

		
			We must deliver to the trustee a legal opinion of our counsel stating that the above deposit does not require registration by us under the Investment Company Act of 1940, as amended, and a legal opinion and officers’ certificate stating that all conditions precedent to defeasance have been complied with.
		

		
			
		

		
			

		 

		

			6

		

		

		
			If we ever did accomplish full defeasance, as described above, you would have to rely solely on the trust deposit for repayment of the debt securities, including the 2022 Notes. You could not look to us for repayment in the unlikely event of any shortfall. Conversely, the trust deposit would most likely be protected from claims of our lenders and other creditors if we ever became bankrupt or insolvent.
		

		
			Resignation of Trustee
		

		
			The Trustee may resign or be removed with respect to one or more series of Indenture securities provided that a successor trustee is appointed to act with respect to these series. (Section 608) In the event that two or more persons are acting as Trustee with respect to different series of securities under the Indenture, each of the trustees will be a trustee of a trust separate and apart from the trust administered by any other trustee. (Section 609)
		

		
			Limitation on Liens
		

		
			We covenant in the Indenture that neither we nor any of our Subsidiaries will pledge or subject to any lien any of our or their property or assets unless the securities under the Indenture are secured by this pledge or lien equally and ratably with other indebtedness thereby secured (the “lien covenant”). There are excluded from this covenant liens created to secure obligations for the purchase price of physical property, liens of a Subsidiary securing indebtedness owed to us, liens existing on property acquired upon exercise of rights arising out of defaults on receivables acquired in the ordinary course of business, sales of receivables accounted for as secured indebtedness in accordance with generally accepted accounting principles, certain liens not related to the borrowing of money and other liens not securing borrowed money aggregating less than $500,000. (Section 1006) Pursuant to the first supplemental indenture, senior securities that are part of a series created on or after the date of such supplemental indenture, such as the 2022 Notes, will be subject to a further exclusion from the lien covenant with respect to cash collateral related to hedging transactions.
		

		
			The Trustee Under the Indenture
		

		
			The Bank of New York Mellon is a bank with which we and Deere & Company maintain ordinary banking relationships and from which we and Deere & Company have obtained credit facilities and lines of credit. The Bank of New York Mellon also serves as trustee under other indentures under which we or Deere & Company are the obligor.
		

		 

		

			7Exhibit

Certain identified information has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

WITHOUT PREJUDICE &
SUBJECT TO CONTRACT

DATED 26 June 2019

    ACCENTURE (UK) LIMITED

- and -

RICHARD LUMB  

RETIREMENT AGREEMENT

WITHOUT PREJUDICE &
SUBJECT TO CONTRACT

THIS AGREEMENT is dated the 26th day of June 2019

BETWEEN:    
		
	(1)
	ACCENTURE (UK) LIMITED, of 30 Fenchurch Street, London, EC3M 3BD (“the “Company”) and

		
	(2)
	RICHARD LUMB, whose address is [REDACTED] (the “Employee”)

RECITALS

		
	(A)
	The Employee has been employed by the Company under the terms of a Managing Director Employment Agreement dated 10 May 2012 made between the Employee and the Company (the “Employment Agreement”), a copy of which is attached at the schedule to this Agreement (marked with the letter “A”).

		
	(B)
	The Company is entering into this Agreement for itself and as agent for and trustee of all the members of the Group and is duly authorised on their behalf.

		
	(C)
	The Employee has received independent legal advice from the Relevant Independent Advisor as defined in Clause 16 below who is a qualified lawyer as such term is defined in Section 203 of the Employment Rights Act 1996 as to the terms and effect of this Agreement and is aware that he has those potential claims against the Company which are listed and have been raised in Clause 13 below.

THE PARTIES AGREE AS FOLLOWS:

REMAINING PERIOD OF EMPLOYMENT

		
	1.
	The Employee’s employment with the Company shall terminate on 31 August 2019 (the “Retirement Date”). The Company will pay the Employee’s salary and benefits until the Retirement Date, in accordance with Clause 3 of this Agreement.  

		
	2.
	Between the date of this Agreement and the Retirement Date, and subject always to the provisions of the Employment Agreement, the Employee will continue to carry out his normal duties, comply with the cooperation obligations set forth on the schedule to this Agreement (marked with the letter “B”), and generally undertake such steps, tasks and duties as may reasonably be requested of him from to time prior to the Retirement Date. 

		
	3.
	The Company confirms that the Employee is entitled to receive up to and including the Retirement Date, his usual salary and benefits under his terms and conditions of employment, together with any pro-rata accrued vacation balance and any outstanding expense amounts to be reimbursed to the Employee under the Company’s normal expense policy. Any payments due at the Retirement Date in this respect shall be paid on the next practicable Company payroll date after the Retirement Date and will be subject to the deduction of income tax and employee’s National Insurance contributions.  The Employee shall remain eligible to receive any earned annual bonus payment for fiscal year 2019 under and in accordance with the terms of the Accenture Global Annual Bonus Plan, which amount be shall be determined and payable at the same time that bonuses are determined and paid to the Accenture’s other executives in the ordinary course.  Any such earned annual bonus will be paid in the ordinary course and will be subject to the deduction of income tax and employee’s National Insurance contributions. In calculating the bonus for fiscal year 2019, the Company shall not take into account the fact that the Employee is retiring.  

		
	4.
	The Employee shall cease to participate in any insurances provided by the Company with effect from the Retirement Date, with the exception of any professional liability and directors' and officers' liability insurance policies that the Company has in place from time to time which shall be continued on the same basis as the Company provides cover under such policies to any former employee of a similar status/position to the Employee. The Employee shall remain responsible for any income tax and employee’s National Insurance contributions payable by reference to any such insurance benefits. The Company shall provide a copy of such policies to the Employee on request.  The Company has provided a copy of the relevant provisions of such policies to the Employee.

COMPENSATION
		
	5.
	Subject to the Company receiving this Agreement, signed by the Employee, the Certificate referred to in Clause 16.3 signed by his Relevant Independent Advisor (as defined in Clause 16 below), and to the Employee complying with: (i) the terms of this Agreement in full including, without limitation, complying with his obligations under Clause 2 above and the Schedule to this Agreement (marked with the letter “B”) and entering into the Further Retirement Agreement on the Retirement Date; and (ii) his obligations under all restrictive covenants (including his non-competition and non-solicitation covenants) set forth in the Grant Agreements as referenced in Clauses 9 and 10 below and the Employment Agreement as referenced in Clauses 1.2 and 1.3 of the Schedule to this Agreement (marked with the letter “F”), the Company agrees to pay the Employee a payment of £378,000 (the “Lump sum Payment”)) (less deductions for income tax and employee’s National Insurance contributions).  The Lump sum Payment shall be paid 

within 28 days of the later of: (i) the Employee’s P45 being issued; and (ii) the Retirement Date, such sum to be paid into the Employee’s normal bank account. 
		
	6.
	The Company shall be entitled to deduct from the monies referred to in Clauses 3, 5 and/or 9 of the Agreement any sums due from the Employee to the Company and any Associated Company including, but not limited to, any outstanding loans and any sums due from the Employee in respect of excess holiday, his personal expense account, any amounts owed by the Employee in relation to any corporate card provided to the Employee through the Company and any and all other sums due or payable by the Employee to the Company. 

		
	7.
	The Employee shall execute the Further Retirement Agreement on the Retirement Date or within three working days thereafter.

		
	8.
	The Company shall also pay to the Employee a sum in lieu of any accrued untaken holiday as at the Termination Date as well as all out of pocket expenses as at the Termination Date. 

SHARE INCENTIVE PLAN AND EMPLOYEE SHARE PURCHASE PLAN 
		
	9.
	In relation to benefits under the Accenture plc 2001 Share Incentive Plan, the Accenture plc 2010 Share Incentive Plan, as amended, and the Accenture plc 2010 Employee Share Purchase Plan, as amended (each a “Plan” and collectively the “Plans”), except as otherwise expressly provided in Clause 10 below, the Employee’s entitlements (if any) shall be determined exclusively in accordance with the governing documents of the relevant Plan from time to time in force, including any Grant Agreements or amendments thereto under each applicable Plan.  

		
	10.
	Subject to and conditional upon the Employee complying with the terms of any Grant Agreements and this Agreement in full including, without limitation, complying with his obligations under all restrictive covenants (including his non-competition and non-solicitation covenants) set forth in the Grant Agreements and his obligations under Clause 2 above and the Schedule to this Agreement (marked with the letter “B”) and entering into the Further Retirement Agreement on the Retirement Date, Accenture agrees to: 

		
	10.1
	waive the continued service requirements that apply to the restricted share units granted to the Employee on January 1, 2018, and January 1, 2019, respectively, under Accenture’s Key Executive Performance Share Program (the “Key Executive RSUs”), such that the Employee’s retirement shall not be deemed a termination of “Qualified Status” with regard to the Key Executive RSUs; 

		
	10.2
	waive the continued service requirements that apply to the restricted share units granted to the Employee on January 5, 2018, and January 5, 2019, respectively, under Accenture’s Voluntary Equity Investment Program (the “VEIP RSUs”), such that the Employee’s retirement shall not be deemed a “termination of employment” with regard to the VEIP RSUs and the Company shall pay, on the next practicable payroll date after 5 January 2020, a cash payment in an amount equal to the value of any matching VEIP grant that the Employee would have otherwise received had he participated in the VEIP through the matching grant date based on the number of VEIP shares purchased with contributions from the Employee between 1 January 2019 and 30 June 2019 and the closing price of the shares as of 5 January 2020; and

		
	10.3
	provide, or cause one of its Affiliates to provide, the Employee with a cash payment of $750,000, less applicable taxes and withholdings, in February 2020 at such time as any award under Accenture’s fiscal 2020 Performance Equity Award Program in respect of Employee’s performance for Accenture’s 2019 fiscal year would normally have vested, in lieu of any such award.

For the avoidance of doubt, the release and settlement of the Key Executive RSUs and the VEIP RSUs shall not be accelerated by this Agreement and the Employee shall only receive any Accenture class A ordinary shares underlying the Key Executive RSUs that actually vest based on the attainment of the specified performance criteria applicable to such awards as set forth in the Employee’s Restricted Share Unit Agreements governing such Key Executive RSUs.  Should the Employee violate any of the restrictive covenants set forth in the Grant Agreements governing the Key Executive RSUs or the VEIP RSUs, including, without limitation, the non-solicitation and non-competition covenants set forth therein, the Employee shall immediately forfeit the accelerated vesting provided hereunder and agrees to transfer any shares delivered in respect of the Key Executive RSUs and VEIP RSUs and any proceeds in respect of the Employee’s sale of such shares to Accenture in accordance with any demand received from Accenture for the transfer of such shares or proceeds.  
BENEFITS TO THE EMPLOYEE
		
	11.
	The Company shall, without any admission of liability whatsoever, provide the following benefits to the Employee:

Laptop Computer and iPhone
		
	11.1
	A payment of £900 (less appropriate deductions for income tax) will be made to the Employee as a contribution towards the purchase of a laptop computer.  Subject to compliance with the 

Company’s applicable policies and procedures (including in relation to the removal of Confidential Information and licensed software and applications) the Employee may retain his iPhone handset following the Retirement Date and the Company shall make all reasonable arrangements to port his current mobile telephone number to him.  For the avoidance of doubt, the Employee shall be responsible for meeting the cost of all telephone calls and data usage relating to the iPhone following the Retirement Date.   
Legal Fees
		
	11.2
	The Company agrees, upon the receipt of an appropriate invoice to pay direct to the Relevant Independent Advisor (as defined in Clause 16 below) a contribution towards the legal costs incurred by the Employee solely in connection with this Agreement, subject to a maximum of £800 (exclusive of VAT but inclusive of any disbursements).

SETTLEMENT AND WAIVER OF CLAIMS
		
	12.
	The Employee acknowledges and agrees that there are no sums of money or benefits due to him from the Company, Legacy Accenture or any Associated Company (except as provided for in this Agreement).  The Employee confirms that, except as provided for in this Agreement, he does not have and will not have following the Retirement Date any claim or entitlement under or in connection with any bonus, incentive, share option or similar scheme and that none of the Company, Legacy Accenture nor any Associated Company (nor any trustees of any scheme established by the Company, Legacy Accenture nor any Associated Company) is or shall be liable to make any payment or provide the Employee with shares under any such scheme.

		
	13.
	The Employee agrees to accept the sums and benefits to be given to him under Clauses 3, 5 and 10 of this Agreement in full and final settlement of:

		
	13.1
	his prospective entitlement to bring the Particular Complaints and/or Proceedings; and

		
	13.2
	his prospective entitlement to bring any other Statutory Employment Protection Claim; and

		
	13.3
	any and all claims appearing at Part C of the Schedule to this Agreement (marked with the letter “C”).  

WARRANTIES
		
	14.
	As a strict condition of this Agreement, the Employee agrees, warrants and represents in the terms of the Schedule to this Agreement (marked with the letter “D”).

		
	15.
	 The Company enters into this Agreement in reliance upon the warranties given by the Employee at Clause 14 above and in the terms of the Schedule to this Agreement (marked with the letter “D”). The Employee acknowledges that the Company has relied on the warranties set out therein in entering into this Agreement and that the Company and its Affiliates shall be released from any obligation to make any payment or provide any benefit to the Employee hereunder in the event that the information so warranted proves inaccurate. In the event that the Employee brings any claims or proceedings, (whether statutory or otherwise) in breach of the provisions of this Agreement (whether in an Employment Tribunal, the High Court, a County Court or otherwise) the Employee agrees that he will repay to the Company within 30 days of a written demand a sum equivalent to the net sum received pursuant to Clauses 5 and 10 above.  This sum shall be recoverable as a debt, together with all costs, including reasonable legal costs, incurred by the Company in recovering the sum and/or in relation to any claims or proceedings so brought by the Employee.  For the avoidance of doubt, the Employee shall not be precluded from enforcing (i) any pension rights or pension benefits which have accrued to the Employee up to the Retirement Date; (ii) the terms of this agreement;  or (iii) his rights under the Plans as amended by this Agreement, nor will the provisions of this Clause 15 apply should he do so.

STATUTORY REQUIREMENTS
		
	16.
	The Employee confirms that he has received independent legal advice from an adviser who is both an Independent Advisor and a Relevant Independent Advisor (the “Relevant Independent Advisor”) (as defined in the Acts referred to in Clause 17 of this Agreement), as to the terms and effect of this Agreement and in particular its effect on the Employee’s ability to pursue his rights before an Employment Tribunal.

		
	16.1
	The Relevant Independent Advisor who has advised the Employee is identified in the Schedule to this Agreement (marked with the letter “E”).

		
	16.2
	The Employee confirms that he has been advised by the Relevant Independent Advisor identified in the Schedule to this Agreement (marked with the letter “E”) that there is in force and was at the time the Employee received the advice referred to a contract of insurance or an indemnity provided for members of a professional body covering the risk of a claim by the Employee in respect of loss arising in consequence of that advice.

		
	16.3
	The Employee agrees that the payments referred to in Clause 5 and 10 are conditional on the Employee obtaining from the Relevant Independent Advisor on the Relevant Independent Advisor’s headed notepaper a Certificate in the terms set out in the Schedule to this Agreement (marked with the letter “E”), and delivering such Certificate to the Company with this Agreement.

		
	17.
	The Company and the Employee agree and acknowledge that the conditions regulating compromise contracts, compromise agreements and settlement agreements (as applicable) under section 147(3) of the Equality Act 2010, section 203(3) of the Employment Rights Act 1996, regulation 35(3) of the Working Time Regulations 1998, section 14 of the Employment Relations Act 1999, regulation 9 of the Part-time Workers (Prevention of Less Favourable Treatment) Regulations 2000, regulation 10 of the Fixed Term Employees (Prevention of Less Favourable Treatment) Regulations 2002, paragraph 13 of the Schedule to the Occupational and Personal Pensions Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 and section 58 of the Pensions Act 2008 are satisfied.  

		
	18.
	The parties acknowledge that this Agreement is not an admission by the Company or the Employee of any wrongdoing or liability whatsoever, but results from the desire to resolve all actual and/or potential disputes between them.

CONTINUING OBLIGATIONS
		
	19.
	The Employee agrees that he will continue to be bound by and will comply with those continuing obligations set forth on the schedule to this Agreement (marked with the letter “F”).  The Employee shall be paid the sum of £500 (subject to the deduction of tax and employee’s National Insurance contributions) in consideration for entering into the obligations listed in Clause 1 of the Schedule to this Agreement (marked with the letter “F”).  This sum shall be paid to the Employee within 28 days of the Retirement Date.

		
	20.
	The Company agrees to comply with its obligations in relation to any reference request in the terms set out in the Schedule to this Agreement (marked with the letter “G”). 

TAXATION OF COMPENSATION
		
	21.
	If any payments or benefits made pursuant to this Agreement are at any time assessed to income tax, PAYE and/or employee National Insurance contributions (“Taxation”), whether in addition to such deductions as the Company may make at the time payment is made or otherwise, the Employee agrees to be responsible for the payment of such Taxation and in the event that the HM Revenue & Customs seeks to recover the whole or part of the Taxation from the Company to indemnify the Company fully in respect thereof.  The Employee agrees to pay the Company the amount of any Taxation within 14 days of the Company serving upon the Employee a notice signed by the Company’s external tax advisors confirming the amount to be paid in respect of this indemnity and that the Taxation falls due to be accounted for to a relevant taxing authority within 30 days of the date of the notice.  For the avoidance of doubt, this indemnity shall not 

apply to any tax or National Insurance deducted by the Company from the gross sums referred to in this Agreement. The Company agrees to notify the Employee (at his address listed in this Agreement) as soon as reasonably practicable of any claim received by the Company from HM Revenue & Customs for payment of Taxation and to provide the Employee (at his address listed in this Agreement) with any copy correspondence and documentation reasonably requested by the Employee from HM Revenue & Customs relevant to the above matters.
GOVERNING LAW AND INTERPRETATION
		
	22.
	This Agreement shall be governed by and interpreted according to English law.  Any dispute shall be subject to the exclusive jurisdiction of the English Courts.

		
	23.
	The Company is entering into this Agreement for itself and as agent for and trustee of all Associated Companies. The parties intend that each Associated Company should be able to enforce in its own right the terms of this Agreement which expressly or impliedly confer a benefit on that company subject to and in accordance with the provisions of the Contracts (Rights of Third Parties) Act 1999. The consent of any party who is not a party to this Agreement shall not be required for the variation or termination of this Agreement, even if that variation or termination affects the benefits conferred on such party.

		
	24.
	Each Clause of this Agreement is intended to be separate and severable and enforceable as such. If any provision or part of a provision of this Agreement shall be or become void or unenforceable for any reason, this shall not affect the validity of that provision or any remaining provisions of this Agreement in this or any other jurisdiction and the provision may be severable and if any provision would be treated as valid and effective if part of the wording was deleted, it shall apply with such modifications as necessary to make it valid and effective.

		
	25.
	The terms of this Agreement (and the Plans) constitute the entire agreement and undertaking between the parties hereto and it supersedes and replaces all prior negotiations, agreements, arrangements or understandings (whether implied or express, orally or in writing) concerning the subject-matter hereof, all of which are hereby treated as terminated by mutual consent.

		
	26.
	No variation of this Agreement shall be binding on either party unless and to the extent that the same is recorded in a written document executed by the parties.  No waiver by the Company or any Affiliate of any term, provision or condition of this Agreement or of any breach by the Employee of any such term, provision or condition shall be effective unless it is in writing (excluding e-mail) and signed by the Company.  No failure to exercise nor any delay in exercising any right or remedy hereunder by the Company or any Affiliate shall operate as a waiver thereof 

or of any other right or remedy hereunder, nor shall any single or partial exercise of any right or remedy by the Company or any Affiliate prevent any further or other exercise thereof or the exercise of any other right or remedy.
		
	27.
	This Agreement although marked “Without Prejudice” and “Subject to Contract” will upon signature by all of the parties be treated as an open document evidencing an agreement binding on the parties.  

		
	28.
	This Agreement may be executed by counterparts which together shall constitute one agreement.  Either party may enter into this Agreement by executing a counterpart and this Agreement shall not take effect until it has been executed by both parties.  

		
	29.
	In this Agreement expressions shall have the meaning given to them in the body of this Agreement or in the Schedule to this Agreement (marked with the letter “H”).

		
	29.1
	The headings are inserted for convenience only and shall not affect its construction.

		
	29.2
	A reference to a particular law is a reference to it as it is in force for the time being taking account of any amendment, extension, or re-enactment and includes any subordinate legislation for the time being in force made under it.

		
	29.3
	Unless the context otherwise requires, a reference to one gender includes a reference to other genders.

		
	29.4
	Unless the context otherwise requires, words in the singular include the plural and in the plural include the singular.

		
	29.5
	The schedules to this Agreement form part of (and are incorporated into) this Agreement.

	
			
	Signed for and on behalf of     
	)
	 

	 
	)
	/s/ Patrick Rowe

	ACCENTURE (UK) LIMITED
	)
	 

	 
	 
	 

	Signed by the said
	)
	 

	 
	)
	/s/ Richard Lumb

	RICHARD LUMB
	)
	 

SCHEDULE “A”
EMPLOYMENT AGREEMENT

[REDACTED; FORM PREVIOUSLY FILED]

SCHEDULE “B”
[REDACTED]

SCHEDULE “C”

[REDACTED] 

SCHEDULE “D”
[REDACTED]

SCHEDULE “E”
[REDACTED]

SCHEDULE “F”
[REDACTED] 

SCHEDULE “G” 
[REDACTED] 

SCHEDULE “H”
DEFINITIONS

In this Agreement the following expressions shall have the following meanings:
		
	•
	“Affiliate”  means in relation to any Legal Entity, any other Legal Entity which from time to time Controls, is Controlled by or is under common Control with that Legal Entity; an Affiliate of the Company includes Accenture plc (a Company incorporated in the Republic of Ireland) “Accenture” and any Affiliate of or successor entity of Accenture plc;   

		
	•
	“Associated Company” means any Legal Entity (other than the Company) which is in the Group;

		
	•
	“Control” means the ability to direct the affairs of another whether by way of contract, ownership of shares or otherwise howsoever, and “Controls” and “Controlled” shall be construed accordingly;

		
	•
	“Further Retirement Agreement” means a Further Retirement Agreement to be entered into by the Employee on the Retirement Date in accordance with the provisions of Clause 7 and in the form appearing in the Schedule to this Agreement (marked with the letter “K”);

		
	•
	“Group” means the Company a subsidiary or holding company for the time being of the Company or an Affiliate of any of the foregoing from time to time;   

		
	•
	“Holding Company” or “Subsidiary” shall have the meanings ascribed to them by s1159 Companies Act 2006 (as amended);

		
	•
	“Legal Entity” means any body corporate or partnership or unincorporated association carrying on a trade or other activity with or without a view to profit;

		
	•
	“Legacy Accenture” means the worldwide business which was, as at 18 April 2001, conducted through the Accenture Partners Société Co-operative and the member firm inter firm organisation structure;

		
	•
	“Particular Complaints and/or Proceedings” means those claims for or in relation to any of the matters listed in Part A of the Schedule to this Agreement (marked with the letter “C”); 

		
	•
	“Statutory Employment Protection Claim” means claims for or in relation to any of the matters listed in Part B of the Schedule to this Agreement (marked with the letter “C”); and 

		
	•
	“Statutory Redundancy Payment” means the Employee’s entitlement (if any) to a statutory payment under s.135 Employment Rights Act 1996.

SCHEDULE “I”

[REDACTED] 

SCHEDULE “J”
[REDACTED] 

SCHEDULE “K”
[REDACTED]

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