Document:

EX-4.3

Table of Contents

 Exhibit 4.3 

DEPOSIT AGREEMENT 
 Dated
December 9, 2013 
 FIFTH THIRD BANCORP, 

AS ISSUER, 
 WILMINGTON TRUST,
NATIONAL ASSOCIATION, 
 AS DEPOSITARY AND CALCULATION AGENT, 

-and- 
 AMERICAN STOCK
TRANSFER & TRUST COMPANY, LLC, 
 AS TRANSFER AGENT AND REGISTRAR 

RELATING TO RECEIPTS, DEPOSITARY SHARES AND RELATED 

6.625% FIXED-TO-FLOATING RATE NON-CUMULATIVE 

PERPETUAL PREFERRED STOCK, SERIES I 

Table of Contents

 TABLE OF CONTENTS 

 
  

					
	 	  	PAGE	 
	 ARTICLE I DEFINITIONS
	  	 	1	  
		
	 SECTION 1.01. “Calculation Agent”
	  	 	1	  
		
	 SECTION 1.02. “Certificate of Designation”
	  	 	1	  
		
	 SECTION 1.03. “Certificate of Incorporation”
	  	 	1	  
		
	 SECTION 1.04. “ Preferred Stock, Series I” or “ Preferred Stock”
	  	 	1	  
		
	 SECTION 1.05. “Common Stock”
	  	 	2	  
		
	 SECTION 1.06. “Company”
	  	 	2	  
		
	 SECTION 1.07. “Deposit Agreement”
	  	 	2	  
		
	 SECTION 1.08. “Depositary”
	  	 	2	  
		
	 SECTION 1.09. “Depositary Office”
	  	 	2	  
		
	 SECTION 1.10. “Depositary Share”
	  	 	2	  
		
	 SECTION 1.11. “Depositary’s Agent”
	  	 	2	  
		
	 SECTION 1.12. “DTC”
	  	 	2	  
		
	 SECTION 1.13. “DTC Receipt”
	  	 	2	  
		
	 SECTION 1.14. “Receipt”
	  	 	2	  
		
	 SECTION 1.15. “Record date”
	  	 	2	  
		
	 SECTION 1.16. “Record holder” or “holder”
	  	 	3	  
		
	 SECTION 1.17. “Redemption date”
	  	 	3	  
		
	 SECTION 1.18. “Redemption price”
	  	 	3	  
		
	 SECTION 1.19. “Registrar”
	  	 	3	  
		
	 SECTION 1.20. “Reorganization Event”
	  	 	3	  
		
	 SECTION 1.21. “Securities Act”
	  	 	3	  
		
	 SECTION 1.22. “Transfer Agent”
	  	 	3	  

  
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	 ARTICLE II FORM OF RECEIPTS, DEPOSIT OF Preferred Stock, EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF
RECEIPTS
	  	 	4	  
		
	 SECTION 2.01. Form and Transferability of Receipts
	  	 	4	  
		
	 SECTION 2.02. Deposit of Preferred Stock; Execution and Delivery of Receipts in Respect Thereof
	  	 	6	  
		
	 SECTION 2.03. Registration of Transfers of Receipts
	  	 	7	  
		
	 SECTION 2.04. Combinations and Split-ups of Receipts
	  	 	7	  
		
	 SECTION 2.05. Surrender of Receipts and Withdrawal of Preferred Stock
	  	 	7	  
		
	 SECTION 2.06. Limitations on Execution and Delivery, Transfer, Split-up. Combination, Surrender and Exchange of
Receipts
	  	 	8	  
		
	 SECTION 2.07. Lost Receipts, etc
	  	 	9	  
		
	 SECTION 2.08. Cancellation and Destruction of Surrendered Receipts
	  	 	9	  
		
	 SECTION 2.09. Optional Redemption of Preferred Stock for Cash
	  	 	9	  
		
	 SECTION 2.10. Redemption Upon a Regulatory Capital Event
	  	 	11	  
		
	 SECTION 2.11. No Pre-Release
	  	 	12	  
		
	 ARTICLE III CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY
	  	 	13	  
		
	 SECTION 3.01. Filing Proofs, Certificates and Other Information
	  	 	13	  
		
	 SECTION 3.02. Payment of Fees and Expenses
	  	 	13	  
		
	 SECTION 3.03. Representations and Warranties as to Preferred Stock
	  	 	13	  
		
	 SECTION 3.04. Representation and Warranty as to Receipts and Depositary Shares
	  	 	13	  
		
	 SECTION 3.05. Taxes
	  	 	14	  
		
	 ARTICLE IV THE Preferred Stock; NOTICES
	  	 	15	  
		
	 SECTION 4.01. Cash Distributions
	  	 	15	  
		
	 SECTION 4.02. Distributions Other Than Cash
	  	 	15	  
		
	 SECTION 4.03. Rights, Preferences or Privileges
	  	 	15	  
		
	 SECTION 4.04. Notice of Dividends; Fixing of Record Date for Holders of Receipts
	  	 	17	  

  
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	 SECTION 4.05. Voting Rights
	  	 	17	  
		
	 SECTION 4.06. Changes Affecting Preferred Stock and Reorganization Events
	  	 	17	  
		
	 SECTION 4.07. Inspection of Reports
	  	 	18	  
		
	 SECTION 4.08. Lists of Receipt Holders
	  	 	18	  
		
	 SECTION 4.09. Withholding
	  	 	18	  
		
	 ARTICLE V THE DEPOSITARY AND THE COMPANY
	  	 	19	  
		
	 SECTION 5.01. Appointment of Calculation Agent
	  	 	19	  
		
	 SECTION 5.02. Calculation of Dividend Rate
	  	 	19	  
		
	 SECTION 5.03. Status of Calculation Agent
	  	 	19	  
		
	 SECTION 5.04. Notice of Dividend Rate
	  	 	19	  
		
	 SECTION 5.05. Rights, Protections, Privileges and Indemnities of Calculation Agent
	  	 	19	  
		
	 SECTION 5.06. Maintenance of Offices, Agencies and Transfer Books by the Depositary and the Registrar
	  	 	19	  
		
	 SECTION 5.07. Prevention or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the
Company
	  	 	20	  
		
	 SECTION 5.08. Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Company
	  	 	20	  
		
	 SECTION 5.09. Resignation and Removal of the Depositary; Appointment of Successor Depositary
	  	 	24	  
		
	 SECTION 5.10. Resignation and Removal of the Calculation Agent; Appointment of Successor Depositary
	  	 	25	  
		
	 SECTION 5.11. Notices, Reports and Documents
	  	 	26	  
		
	 SECTION 5.12. Indemnification by the Company
	  	 	26	  
		
	 SECTION 5.13. Fees, Charges and Expenses
	  	 	26	  
		
	 ARTICLE VI AMENDMENT AND TERMINATION
	  	 	28	  
		
	 SECTION 6.01. Amendment
	  	 	28	  
		
	 SECTION 6.02. Termination
	  	 	28	  

  
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	 ARTICLE VII MISCELLANEOUS
	  	 	30	  
		
	 SECTION 7.01. Counterparts
	  	 	30	  
		
	 SECTION 7.02. Exclusive Benefits of Parties
	  	 	30	  
		
	 SECTION 7.03. Invalidity of Provisions
	  	 	30	  
		
	 SECTION 7.04. Notices
	  	 	30	  
		
	 SECTION 7.05. Depositary’s Agents
	  	 	32	  
		
	 SECTION 7.06. Holders of Receipts Are Parties
	  	 	32	  
		
	 SECTION 7.07. Governing Law
	  	 	32	  
		
	 SECTION 7.08. Inspection of Deposit Agreement and Certificate of Designation
	  	 	32	  
		
	 SECTION 7.09. Headings
	  	 	32	  

  
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 DEPOSIT AGREEMENT 

DEPOSIT AGREEMENT, dated as of December 9, 2013, among FIFTH THIRD BANCORP, an Ohio corporation, WILMINGTON TRUST, NATIONAL ASSOCIATION,
a national banking association, as Depositary and Calculation Agent, AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, a New York limited liability company, as Transfer Agent and Registrar, and all holders from time to time of Receipts (as
hereinafter defined) issued hereunder. 
 WITNESSETH: 

WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of the Company’s
Preferred Stock (as hereinafter defined) with the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of Depositary Shares representing a fractional interest in the Preferred Stock deposited and for the
execution and delivery of Receipts evidencing Depositary Shares; and 
 WHEREAS, the Receipts are to be substantially in the form of
Exhibit A annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit Agreement. 

NOW, THEREFORE, in consideration of the premises contained herein, it is agreed by and among the parties hereto as follows: 

ARTICLE I 
 DEFINITIONS

 The following definitions shall apply to the respective terms (in the singular and plural forms of such terms) used in this Deposit
Agreement and the Receipts: 
 SECTION 1.01. “Calculation Agent” shall have the meaning set forth in the Certificate of
Designation. 
 SECTION 1.02. “Certificate of Designation” shall mean the certificate that amends the Articles of
Incorporation of the Company, as amended, adopted by a duly authorized committee of the Board of Directors of the Company establishing and setting forth the rights, preferences and privileges of the Preferred Stock, as filed with the Secretary of
State of the State of Ohio on December 5, 2013 and attached hereto as Exhibit B, and as such certificate may be amended or restated from time to time. 

SECTION 1.03. “Certificate of Incorporation” shall mean the Articles of Incorporation, as amended, of the Company, as
restated or amended from time to time, including the amendment resulting from filing the Certificate of Designation. 
 SECTION 1.04.
“ Preferred Stock, Series I” or “ Preferred Stock” shall mean shares of the Company’s 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, 

  
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Series I (liquidation preference $25,000 per share), no par value, heretofore validly issued, fully paid and nonassessable. 

SECTION 1.05. “Common Stock” shall mean the common stock, no par value, of the Company or any other shares of the capital
stock of the Company into which such shares of common stock shall be reclassified or changed. 
 SECTION 1.06. “Company”
shall mean Fifth Third Bancorp, an Ohio corporation, and its successors. 
 SECTION 1.07. “Deposit Agreement” shall mean
this agreement, as the same may be amended, modified or supplemented from time to time. 
 SECTION 1.08. “Depositary” shall
mean Wilmington Trust, National Association, a national banking association having its principal executive office in the United States and having a combined capital and surplus of at least $50,000,000, and any successor as depositary hereunder. 

SECTION 1.09. “Depositary Office” shall mean the principal office of the Depositary at which at any particular time its
business in respect of matters governed by this Deposit Agreement shall be administered, which at the date of this Deposit Agreement is located at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890. 

SECTION 1.10. “Depositary Share” shall mean the security representing a
1/1000th ownership interest in a share of Preferred Stock deposited with the Depositary hereunder and the same proportionate interest in any and all other property received by the Depositary in
respect of such share of Preferred Stock and held under this Deposit Agreement, all as evidenced by the Receipts issued hereunder. The initial number of Depositary Shares issued equals 18,000,000. Subject to the terms of this Deposit Agreement, each
owner of a Depositary Share is entitled, proportionately, to all the rights, preferences and privileges of the Preferred Stock represented by such Depositary Share (including the dividend, voting, redemption, liquidation rights and other rights,
preferences and privileges contained in the Certificate of Designation). 
 SECTION 1.11. “Depositary’s Agent” shall
mean an agent appointed by the Depositary as provided, and for the purposes specified, in Section 7.05. 
 SECTION 1.12.
“DTC” means The Depository Trust Company. 
 SECTION 1.13. “DTC Receipt” has the meaning set forth in
Section 2.01. 
 SECTION 1.14. “Receipt” shall, as the context requires, mean (i) a receipt issued hereunder to
evidence one or more Depositary Shares, whether in definitive or temporary form, or (ii) a DTC Receipt, in each case substantially in the form set forth as Exhibit A hereto. 

SECTION 1.15. “Record date” shall mean the date fixed pursuant to Section 4.04. 

  
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 SECTION 1.16. “Record holder” or “holder” as applied to a
Receipt shall mean the individual, entity or person in whose name a Receipt is registered on the books maintained by the Depositary for such purpose. 

SECTION 1.17. “Redemption date” has the meaning set forth under Section 2.09. 

SECTION 1.18. “Redemption price” has the meaning set forth under Section 2.09. 

SECTION 1.19. “Registrar” shall mean American Stock Transfer & Trust Company, LLC or any other entity appointed to
register ownership and transfers of Receipts and the deposited Preferred Stock, as herein provided. 
 SECTION 1.20. “Reorganization
Event” shall have the meaning set forth in the Certificate of Designation. 
 SECTION 1.21. “Securities Act” shall
mean the Securities Act of 1933, as amended. 
 SECTION 1.22. “Transfer Agent” shall mean American Stock
Transfer & Trust Company, LLC or any other entity appointed to transfer the Receipts and the deposited Preferred Stock, as herein provided. 

  
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 ARTICLE II 

FORM OF RECEIPTS, DEPOSIT OF PREFERRED STOCK, 

EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF 

RECEIPTS 
 SECTION 2.01.
Form and Transferability of Receipts. (a) Definitive Receipts shall be printed and shall be substantially in the form set forth in Exhibit A annexed to this Deposit Agreement, in each case with appropriate insertions,
modifications and omissions, as hereinafter provided. Pending the preparation of definitive Receipts, the Depositary, upon, and pursuant to, the written order of the Company delivered in compliance with Section 2.02 shall be authorized and
instructed to, and shall, execute and deliver temporary Receipts which shall be substantially of the tenor of the definitive Receipts in lieu of which they are issued and in each case with such appropriate insertions, omissions, substitutions and
other variations as the persons executing such Receipts may determine (but which do not affect the rights or duties of the Depositary), as evidenced by their execution of such Receipts. If temporary Receipts are issued, the Company and the
Depositary will cause definitive Receipts to be prepared without unreasonable delay. After the preparation of definitive Receipts, the temporary Receipts shall be exchangeable for definitive Receipts upon surrender of the temporary Receipts at the
Depositary Office without charge to the holder. Upon surrender for cancellation of any one or more temporary Receipts, the Depositary is hereby authorized and instructed to, and shall, execute and deliver in exchange therefor definitive Receipts
representing the same number of Depositary Shares as represented by the surrendered temporary Receipt or Receipts. Such exchange shall be made at the Company’s expense and without any charge therefor. Until so exchanged, the temporary Receipts
shall in all respects be entitled to the same benefits under this Deposit Agreement, and with respect to the Preferred Stock deposited, as definitive Receipts. 

(b) Receipts shall be executed by the Depositary by the manual or facsimile signature of a duly authorized signatory of the Depositary and
shall also be countersigned by manual or facsimile signature of a duly authorized signatory of the Registrar; provided that no such countersignature shall be required if the Depositary acts as the Registrar. No Receipt shall be entitled to any
benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it shall have been executed as provided in the preceding sentence. The Depositary shall record on its books each Receipt executed as provided above and delivered
as hereinafter provided. Receipts bearing the manual or facsimile signature of a duly authorized signatory of the Depositary who was at any time a proper signatory of the Depositary shall bind the Depositary, notwithstanding that such signatory
ceased to hold such office prior to the execution and delivery of such Receipts by the Registrar or did not hold such office on the date of issuance of such Receipts. 

(c) Receipts shall be in denominations of any number of whole Depositary Shares. All Receipts shall be dated the date of their issuance.
Receipts may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Deposit Agreement as may be required by the Depositary and approved by the Company, or which the
Company has determined are required to comply with any applicable law or regulation or with the rules and regulations of any securities exchange upon which the Depositary Shares may be listed for trading or to conform with any usage with respect
thereto, or 

  
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to indicate any special limitations or restrictions to which any particular Receipts are subject, in each case as directed by the Company. 

(d) Title to any Receipt (and to the Depositary Shares evidenced by such Receipt) that is properly endorsed, or accompanied by a properly
executed instrument of transfer, or endorsement shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until transfer of a Receipt shall be registered on the books of the Depositary
as provided in Section 2.03, the Depositary may, notwithstanding any notice to the contrary, treat the record holder thereof at such time as the absolute owner thereof for the purpose of determining the person entitled to distributions of
dividends or other distributions or payments with respect to the Preferred Stock, to exercise any redemption or voting or to receive any notice provided for in this Deposit Agreement and for all other purposes. 

(e) Notwithstanding the foregoing, upon request by the Company, the Depositary and the Company will make application to DTC for acceptance of
all or a portion of the Receipts for its book-entry settlement system. In connection with any such request, the Company hereby appoints the Depositary acting through any authorized officer thereof as its attorney-in-fact, with full power to
delegate, for purposes of executing any agreements, certifications or other instruments or documents necessary or desirable in order to effect the acceptance of such Receipts for DTC eligibility. So long as the Receipts are eligible for book-entry
settlement with DTC, unless otherwise required by law, all Depositary Shares to be traded on the NASDAQ Global Select Market with book-entry settlement through DTC shall be represented by a single receipt (the “DTC Receipt”), substantially
in the form set forth in the attached Exhibit A, which shall be deposited with DTC (or its custodian) evidencing all such Depositary Shares and registered in the name of the nominee of DTC (initially expected to be Cede & Co.). The
Transfer Agent shall hold the DTC Receipt as custodian for DTC. Ownership of beneficial interests in the DTC Receipt shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) DTC or its nominee
for such DTC Receipt, or (ii) institutions that have accounts with DTC. 
 (f) If issued, the DTC Receipt shall be exchangeable for
definitive Receipts only if (i) DTC notifies the Company at any time that it is unwilling or unable to continue to make its book-entry settlement system available for the Receipts and a successor to DTC is not appointed by the Company within 90
days of the date the Company is so informed in writing, (ii) DTC notifies the Company at any time that it has ceased to be a clearing agency registered under applicable law and a successor to DTC is not appointed by the Company within 90 days
of the date the Company is so informed in writing or (iii) the Company executes and delivers to DTC a notice to the effect that such DTC Receipt shall be so exchangeable. If the beneficial owners of interests in Depositary Shares are entitled
to exchange such interests for definitive Receipts as the result of an event described in clause (i), (ii) or (iii) of the preceding sentence, then without unnecessary delay but in any event not later than the earliest date on which such
beneficial interests may be so exchanged, the Depositary is hereby directed to and shall provide written instructions to DTC to deliver to the Depositary for cancellation the DTC Receipt, and the Company shall instruct the Depositary in writing to
execute and deliver to the beneficial owners of the Depositary Shares previously evidenced by the DTC Receipt definitive Receipts in physical form evidencing such Depositary Shares. The DTC Receipt shall be in such form and shall bear such legend or
legends as may be appropriate or required by DTC in order for it to 

  
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accept the Depositary Shares for its book-entry settlement system. Notwithstanding any other provision herein to the contrary, if the Receipts are at any time eligible for book-entry settlement
through DTC, delivery of shares of Preferred Stock and other property in connection with the withdrawal or redemption of Depositary Shares will be made through DTC and in accordance with its procedures, unless the holder of the relevant Receipt
otherwise requests and such request is reasonably acceptable to the Depositary and the Company. 
 SECTION 2.02. Deposit of Preferred
Stock; Execution and Delivery of Receipts in Respect Thereof. 
 (a) Concurrently with the execution of this Deposit Agreement, the
Company is delivering to the Depositary a certificate or certificates, registered in the name of the Depositary and evidencing 18,000 shares of Preferred Stock, properly endorsed or accompanied, if required by the Depositary, by a duly executed
instrument of transfer or endorsement, in form satisfactory to the Depositary, together with (i) all such certifications as may be required by the Depositary in accordance with the provisions of this Deposit Agreement and (ii) a written
order of the Company directing the Depositary to execute and deliver to, or upon the written order of, the person or persons stated in such order a Receipt or Receipts for the Depositary Shares representing such deposited Preferred Stock registered
in such names specified in such written order. The Depositary acknowledges receipt of the aforementioned 18,000 shares of Preferred Stock and related documentation and agrees to hold such deposited Preferred Stock in an account to be established by
the Depositary at the Depositary Office or at such other office as the Depositary shall determine. The Company hereby appoints American Stock Transfer & Trust Company, LLC as the Registrar and Transfer Agent for the Preferred Stock
deposited hereunder and American Stock Transfer & Trust Company, LLC hereby accepts such appointment and, as such, will reflect changes in the number of shares (including any fractional shares) of deposited Preferred Stock held by the
Depositary by notation, book-entry or other appropriate method. 
 (b) If required by the Depositary, Preferred Stock presented for deposit
by the Company at any time, whether or not the register of stockholders of the Company is closed, shall also be accompanied by an agreement or assignment, or other instrument satisfactory to the Depositary, that will provide for the prompt transfer
to the Depositary or its nominee of any dividend or right to receive other property that any person in whose name the Preferred Stock is or has been registered may thereafter receive upon or in respect of such deposited Preferred Stock, or in lieu
thereof such agreement of indemnity or other agreement as shall be satisfactory to the Depositary. 
 (c) Upon receipt by the Depositary of a
certificate or certificates for Preferred Stock deposited hereunder, together with the other documents specified above, and upon registering such Preferred Stock in the name of the Depositary, the Depositary, subject to the terms and conditions of
this Deposit Agreement, shall execute and deliver to, or upon the order of, the person or persons named in the written order delivered to the Depositary referred to in Section 2.02(a), a Receipt or Receipts for the number of whole Depositary
Shares representing the Preferred Stock so deposited and registered in such name or names as may be requested by such person or persons. The Depositary shall execute and deliver such Receipt or Receipts at the Depositary Office, except that, at the
request, risk and expense of any person requesting such delivery, such delivery may be made at such other place as may be designated by such person. 

  
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Other than in the case of splits, combinations or other reclassifications affecting the Preferred Stock, or in the case of dividends or other distributions of Preferred Stock, if any, there shall
be deposited hereunder not more than the number of shares constituting the Preferred Stock as set forth in the Certificate of Designation, as such may be amended. To the extent that the Company issues shares of Preferred Stock in excess of the
amount set forth in the Certificate of Designation as of the date hereof (which shares have been validly authorized by the Company), the Company shall notify the Depositary of such issuance in writing. 

(d) The Company shall deliver to the Depositary from time to time such quantities of Receipts as the Depositary may request to enable the
Depositary to perform its obligations under this Deposit Agreement. 
 SECTION 2.03. Registration of Transfers of Receipts.

 The Company hereby appoints American Stock Transfer & Trust Company, LLC as the Registrar and Transfer Agent for the Receipts and
American Stock Transfer & Trust Company, LLC hereby accepts such appointment and, as such, shall register on its books from time to time transfers of Receipts upon any surrender thereof by the holder in person or by a duly authorized
attorney, agent or representative properly endorsed or accompanied by a properly executed instrument of transfer or endorsement, together with evidence of the payment by the applicable party of any transfer taxes as may be required by law. Upon such
surrender, the Depositary shall execute a new Receipt or Receipts and deliver the same to or upon the order of the person entitled thereto evidencing the same aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered.

 SECTION 2.04. Combinations and Split-ups of Receipts. 

Upon surrender of a Receipt or Receipts at the Depositary Office or such other office as the Depositary may designate for the purpose of
effecting a split-up or combination of Receipts, subject to the terms and conditions of this Deposit Agreement, the Depositary shall execute and deliver a new Receipt or Receipts in the authorized denominations requested evidencing the same
aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered. 
 SECTION 2.05. Surrender of Receipts and
Withdrawal of Preferred Stock. 
 (a) Any holder of a Receipt or Receipts may withdraw any number of whole shares of deposited
Preferred Stock represented by the Depositary Shares evidenced by such Receipt or Receipts and all money and other property, if any, represented by such Depositary Shares by surrendering such Receipt or Receipts to the Depositary or at such other
office as the Depositary may designate for such withdrawals; provided, that a holder of a Receipt or Receipts may not withdraw such Preferred Stock (or money and other property, if any, represented thereby) which has previously been called for
redemption. Upon such surrender, upon payment of the fee of the Depositary for the surrender of Receipts to the extent provided in Section 5.13 and payment of all taxes and governmental charges in connection with such surrender and withdrawal
of Preferred Stock, and subject to the terms and conditions of this Deposit Agreement, without unreasonable delay, the Depositary shall deliver to such holder, or to the person or persons designated by such holder as hereinafter provided, the number
of whole shares of such Preferred 

  
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Stock and all such money and other property, if any, represented by the Depositary Shares evidenced by the Receipt or Receipts so surrendered for withdrawal, but holders of such whole shares of
Preferred Stock will not thereafter be entitled to deposit such Preferred Stock hereunder or to receive Depositary Shares therefor. If the Receipt or Receipts delivered by the holder to the Depositary in connection with such withdrawal shall
evidence a number of Depositary Shares in excess of the number of Depositary Shares representing the number of whole shares of deposited Preferred Stock to be withdrawn, the Depositary shall at the same time, in addition to such number of whole
shares of Preferred Stock and such money and other property, if any, to be withdrawn, deliver to such holder, or (subject to Section 2.03) upon his order, a new Receipt or Receipts evidencing such excess number of Depositary Shares. Delivery of
such Preferred Stock and such money and other property being withdrawn may be made by the delivery of such certificates, documents of title and other instruments as the Depositary may deem appropriate, which, if required by the Depositary, shall be
properly endorsed or accompanied by proper instruments of transfer. 
 (b) If the deposited Preferred Stock and the money and other property
being withdrawn are to be delivered to a person or persons other than the record holder of the Receipt or Receipts being surrendered for withdrawal of Preferred Stock, such holder shall execute and deliver to the Depositary a written order so
directing the Depositary and the Depositary may require that the Receipt or Receipts surrendered by such holder for withdrawal of such shares of Preferred Stock be properly endorsed in blank or accompanied by a properly executed instrument of
transfer or endorsement in blank. 
 (c) The Depositary shall deliver the deposited Preferred Stock and the money and other property, if any,
represented by the Depositary Shares evidenced by Receipts surrendered for withdrawal at the Depositary Office, except that, at the request, risk and expense of the holder surrendering such Receipt or Receipts and for the account of the holder
thereof, such delivery may be made at such other place as may be designated by such holder. 
 SECTION 2.06. Limitations on
Execution and Delivery, Transfer, Split-up. Combination, Surrender and Exchange of Receipts. 
 (a) As a condition precedent
to the execution and delivery, transfer, split-up, combination, surrender or exchange of any Receipt, the Depositary, any of the Depositary’s Agents or the Company may require any or all of the following: (i) payment to it of a sum
sufficient for the payment (or, in the event that the Company shall have made such payment, the reimbursement to it) of any tax or other governmental charge and stock transfer or registration fee with respect thereto (including any such tax or
charge with respect to the Preferred Stock being deposited or withdrawn); (ii) the production of proof satisfactory to it as to the identity and genuineness of any signature (or the authority of any signature); and (iii) compliance with
such regulations, if any, as the Depositary or the Company may establish consistent with the provisions of this Deposit Agreement as may be required by any securities exchange on which the deposited Preferred Stock, the Depositary Shares or the
Receipts may be included for quotation or listed. 
 (b) The deposit of Preferred Stock may be refused, the delivery of Receipts against
Preferred Stock may be suspended, the transfer of Receipts may be refused, and the transfer, 

  
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split-up, combination, surrender, exchange or redemption of outstanding Receipts may be suspended (i) during any period when the register of stockholders of the Company is closed or
(ii) if any such action is deemed reasonably necessary or advisable by the Depositary, any of the Depositary’s Agents or the Company at any time or from time to time because of any requirement of law or of any government or governmental
body or commission, or under any other provision of this Deposit Agreement. 
 SECTION 2.07. Lost Receipts, etc.

 In case any Receipt shall be mutilated and surrendered to the Depositary or destroyed or lost or stolen, the Depositary shall execute
and deliver a Receipt of like form and tenor in exchange and substitution for such mutilated Receipt or in lieu of and in substitution for such destroyed, lost or stolen Receipt; provided, that the holder thereof shall have (a) filed with the
Depositary (i) a request for such execution and delivery before the Depositary has notice that the Receipt has been acquired by a protected purchaser and (ii) an indemnity bond and (b) satisfied any other reasonable requirements
imposed by the Depositary. 
 SECTION 2.08. Cancellation and Destruction of Surrendered Receipts. 

All Receipts surrendered to the Depositary or any Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited by
applicable law or regulation, the Depositary is authorized, but not required, to destroy such Receipts so cancelled. 
 SECTION 2.09.
Optional Redemption of Preferred Stock for Cash. 
 (a) Subject to receiving all required regulatory approvals, the Company may
redeem the Preferred Stock at its option, in whole or in part, at any time, or from time to time, on or after December 31, 2023. There will be no sinking fund for the redemption or purchase of the Preferred Stock or the Depositary Shares. No
holder of the Preferred Stock or of the Depositary Shares will have the right to require the redemption of the Preferred Stock. 
 (b)
Whenever the Company shall elect to redeem shares of deposited Preferred Stock for cash at its option in accordance with the provisions of the Certificate of Designation, it shall (unless otherwise agreed in writing with the Depositary) give the
Depositary not less than 30 and not more than 60 days’ prior written notice of the date fixed for redemption of such Preferred Stock (the “redemption date”) and of the number of such shares of Preferred Stock held by the Depositary to
be redeemed and the applicable redemption price (the “redemption price”), as set forth in the Certificate of Designation. The Depositary shall mail through electronic mail or first-class postage prepaid mail, notice of the redemption of
Preferred Stock and the proposed simultaneous redemption of the Depositary Shares representing the Preferred Stock to be redeemed, not less than 30 and not more than 60 days prior to the redemption date, to the holders of record on the record date
fixed for such redemption pursuant to Section 4.04 of the Receipts evidencing the Depositary Shares to be so redeemed, at the addresses of such holders as the same appear on the records of the Depositary; but neither the failure to mail any
such notice to one or more such holder nor any defect in any such notice shall affect the sufficiency of the proceedings for redemption except as to the holder to whom notice was defective or not given. 

  
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 (c) In connection with any redemption of the Preferred Stock at the option of the Company in
accordance with the Certificate of Designation, the Company shall deliver an Officers’ Certificate to the Depositary and the Calculation Agent stating that it has complied with all of the conditions to the exercise of its optional redemption
rights set forth in the Certificate of Designation, and the Depositary shall have no duty or obligation to inquire or investigate whether the Company has complied with the terms of the Certificate of Designation. 

(d) The Company shall also prepare and provide the Depositary with the notice provided for in Section 2.09(b), and each such notice shall
state: (i) the redemption date; (ii) the redemption price; (iii) the number of shares of deposited Preferred Stock and Depositary Shares to be redeemed; (iv) if fewer than all Depositary Shares held by any holder are to be
redeemed, the number of such Depositary Shares held by such holder to be so redeemed; and (v) the place or places where the Preferred Stock and the Receipts evidencing Depositary Shares to be redeemed are to be surrendered for payment of the
redemption price. 
 (e) In the event that notice of redemption has been made as described in the immediately preceding paragraphs and the
Company shall then have paid in full to the Depositary the redemption price (determined pursuant to the Certificate of Designation) of the Preferred Stock deposited with the Depositary to be redeemed, the Depositary shall redeem the number of
Depositary Shares representing such Preferred Stock so called for redemption by the Company and on the redemption date (unless the Company shall have failed to pay for the shares of Preferred Stock to be redeemed by it as set forth in the
Company’s notice provided for in the preceding paragraph), the Depositary Shares called for redemption shall be deemed no longer to be outstanding and all rights of the holders of Receipts evidencing such Depositary Shares (except the right to
receive the redemption price) shall, to the extent of such Depositary Shares, cease and terminate. Upon surrender in accordance with said notice of the Receipts evidencing such Depositary Shares (properly endorsed or assigned for transfer, if the
Depositary shall so require), such Depositary Shares shall be redeemed at a cash redemption price of $25 per Depositary Share, plus an amount equal to any declared but unpaid dividends to, but excluding, the redemption date, without accumulation of
any undeclared dividends. The foregoing shall be further subject to the terms and conditions of the Certificate of Designation. 
 (f) In the
event of any conflict between the provisions of the Deposit Agreement and the provisions of the Certificate of Designation, the provisions of the Certificate of Designation will govern and the Company will instruct the Depositary in writing
accordingly of such governing terms; provided, however, that under no circumstances will the Certificate of Designation be deemed to change or modify any of the rights, duties or immunities of the Depositary contained herein. 

(g) If fewer than all of the Depositary Shares evidenced by a Receipt are called for redemption, the Depositary will deliver to the holder of
such Receipt upon its surrender to the Depositary, together with payment of the redemption price for and all other amounts payable in respect of the Depositary Shares called for redemption, a new Receipt evidencing the Depositary Shares evidenced by
such prior Receipt and not called for redemption. 
 (h) If less than all of the Preferred Stock is redeemed pursuant to the Company’s
exercise of its optional redemption right, the Depositary will select the Depositary Shares to be 

  
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redeemed pursuant to this Section 2.09 on a pro rata basis, by lot or in such other manner as the Depositary may determine to be fair and equitable. 

SECTION 2.10. Redemption Upon a Regulatory Capital Event.  

(a) Subject to receiving all required regulatory approvals, the Company may redeem the Preferred Stock at its option, in whole, but not in
part, at any time prior to December 31, 2023, following the occurrence of a “regulatory capital event,” as defined in the Certificate of Designation. There will be no sinking fund for the redemption or purchase of the Preferred Stock
or the Depositary Shares. No holder of the Preferred Stock or of the Depositary Shares will have the right to require the redemption of the Preferred Stock. 

(b) Whenever the Company shall elect to redeem shares of deposited Preferred Stock pursuant to a regulatory capital event in accordance with
the provisions of the Certificate of Designation, the Company shall (unless otherwise agreed in writing with the Depositary) give the Depositary not less than 30 and not more than 60 days’ prior written notice of the redemption date and of the
number of such shares of Preferred Stock held by the Depositary to be redeemed and the applicable redemption price, as set forth in the Certificate of Designation. The Depositary shall mail as soon as reasonably practicable, by electronic mail or
first-class postage prepaid mail, notice of the redemption of Preferred Stock and the proposed simultaneous redemption of the Depositary Shares representing the Preferred Stock to be redeemed to the holders of record on the record date fixed for
such redemption pursuant to Section 4.04 of the Receipts evidencing the Depositary Shares to be so redeemed, at the addresses of such holders as the same appear on the records of the Depositary; but neither the failure to mail any such notice
to one or more such holder nor any defect in any such notice shall affect the sufficiency of the proceedings for redemption except as to the holder to whom notice was defective or not given. 

(c) In connection with any redemption of the Preferred Stock at the option of the Company upon a regulatory capital event in accordance with
the Certificate of Designation, the Company shall deliver an Officers’ Certificate to the Depositary and the Calculation Agent stating that it has complied with all of the conditions to the exercise of its optional redemption rights upon a
regulatory capital event set forth in the Certificate of Designation, and the Depositary shall have no duty or obligation to inquire or investigate whether the Company has complied with the terms of the Certificate of Designation. 

(d) The Company shall prepare and provide the Depositary with the notice provided for in Section 2.10(b), and each such notice shall
state: (i) the regulatory capital event; (ii) the redemption date; (iii) the redemption price; (iv) the number of shares of deposited Preferred Stock and Depositary Shares to be redeemed; and (v) the place or places where
the Preferred Stock and the Receipts evidencing Depositary Shares to be redeemed are to be surrendered for payment of the redemption price. 

(e) In the event that notice of redemption has been made as described in the immediately preceding paragraphs and the Company shall then have
paid in full to the Depositary the redemption price (determined pursuant to the Certificate of Designation) of the Preferred Stock deposited with the Depositary to be redeemed, the Depositary shall redeem the number of Depositary Shares representing
such Preferred Stock so called for redemption by the 

  
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Company and on the redemption date (unless the Company shall have failed to pay for the shares of Preferred Stock to be redeemed by it as set forth in the Company’s notice provided for in
the preceding paragraph), the Depositary Shares called for redemption shall be deemed no longer to be outstanding and all rights of the holders of Receipts evidencing such Depositary Shares (except the right to receive the redemption price) shall,
to the extent of such Depositary Shares, cease and terminate. Upon surrender in accordance with said notice of the Receipts evidencing such Depositary Shares (properly endorsed or assigned for transfer, if the Depositary shall so require), such
Depositary Shares shall be redeemed at a cash redemption price of $25 per Depositary Share, plus an amount equal to any declared but unpaid dividends to, but excluding, the redemption date, without accumulation of any undeclared dividends. The
foregoing shall be further subject to the terms and conditions of the Certificate of Designation. 
 (f) In the event of any conflict between
the provisions of the Deposit Agreement and the provisions of the Certificate of Designation, the provisions of the Certificate of Designation will govern and the Company will instruct the Depositary in writing accordingly of such governing terms;
provided, however, that under no circumstances will the Certificate of Designation be deemed to change or modify any of the rights, duties or immunities of the Depositary contained herein. 

SECTION 2.11. No Pre-Release. 

The Depositary shall not deliver any deposited Preferred Stock evidenced by Receipts prior to the receipt and cancellation of such Receipts or
other similar method used with respect to Receipts held by DTC. The Depositary shall not issue any Receipts prior to the receipt by the Depositary of the corresponding Preferred Stock represented by the Depositary Shares evidenced by such Receipts.
At no time will any Receipts be outstanding if such Receipts do not evidence the Depositary Shares representing Preferred Stock deposited with the Depositary. 

  
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 ARTICLE III 

CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY 

SECTION 3.01. Filing Proofs, Certificates and Other Information. 

Any holder of a Receipt may be required from time to time to file with the Depositary such proof of residence, guarantee of signature or other
information and to execute such certificates as the Depositary may reasonably deem necessary or proper or the Company may reasonably require by written request to the Depositary. The Depositary or the Company may withhold or delay the delivery of
any Receipt, the transfer, redemption or exchange of any Receipt, the withdrawal of the deposited Preferred Stock represented by the Depositary Shares evidenced by any Receipt, the distribution of any dividend or other distribution or the sale of
any rights or of the proceeds thereof, until such proof or other information is filed, or such certificates are executed. 
 SECTION
3.02. Payment of Fees and Expenses. 
 Holders of Receipts shall be obligated to make payments to the Depositary of
certain fees and expenses and taxes or other governmental charges to the extent provided in Section 5.13, or provide evidence satisfactory to the Depositary that such fees and expenses and taxes or other governmental charges have been paid.
Until such payment is made, transfer of any Receipt or any withdrawal of the Preferred Stock or money or other property, if any, represented by the Depositary Shares evidenced by such Receipt may be refused, any dividend or other distribution may be
withheld, and any part or all of the Preferred Stock or other property represented by the Depositary Shares evidenced by such Receipt may be sold for the account of the holder thereof (after attempting by reasonable means to notify such holder a
reasonable number of days prior to such sale). Any dividend or other distribution so withheld and the proceeds of any such sale may be applied to any payment of such fees or expenses, the holder of such Receipt remaining liable for any deficiency.

 SECTION 3.03. Representations and Warranties as to Preferred Stock. 

In the case of the initial deposit of the Preferred Stock hereunder, the Company represents and warrants that such Preferred Stock and each
certificate therefor are validly issued, fully paid and nonassessable. Such representations and warranties shall survive the deposit of the Preferred Stock and the issuance of Receipts. 

SECTION 3.04. Representation and Warranty as to Receipts and Depositary Shares. 

The Company hereby represents and warrants that the Receipts, when issued, will evidence legal and valid interests in the Depositary Shares and
each Depositary Share will represent a legal and valid 1/1000th ownership interest in a share of deposited Preferred Stock represented by such Depositary Share. Such representation and warranty
shall survive the deposit of the Preferred Stock and the issuance of Receipts evidencing the Depositary Shares. 

  
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 SECTION 3.05. Taxes. 

The Company will pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or
delivery of Depositary Shares or shares of Preferred Stock, Common Stock or other securities issued on account of Depositary Shares or certificates representing such shares or securities. The Company will not, however, be required to pay any such
tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Preferred Stock, Depositary Shares, shares of Common Stock or other securities in a name other than that in which the Depositary Shares with respect
to which such shares or other securities are issued or delivered were registered, or in respect of any payment to any person other than a payment to the registered holder thereof, and will not be required to make any such issuance, delivery or
payment unless and until the person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

  
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 ARTICLE IV 

THE PREFERRED STOCK; NOTICES 

SECTION 4.01. Cash Distributions. 

Whenever the Depositary shall receive any cash dividend or other cash distribution on the deposited Preferred Stock, including any cash
received upon redemption of any shares of Preferred Stock pursuant to Section 2.09 or Section 2.10, the Depositary shall, subject to Section 3.02, distribute to record holders of Receipts on the record date fixed pursuant to
Section 4.04 such amounts of such sum as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders; provided, however, that in case the Company or the Depositary
shall be required by law to and shall withhold from any cash dividend or other cash distribution in respect of the Preferred Stock represented by the Receipts held by any holder an amount on account of taxes or as otherwise required by law,
regulation or court process, the amount made available for distribution or distributed in respect of Depositary Shares represented by such Receipts subject to such withholding shall be reduced accordingly. The Depositary, however, shall distribute
or make available for distribution, as the case may be, only such amount as can be distributed without attributing to any holder of Receipts a fraction of one cent. Any such fractional amounts shall be rounded down to the nearest whole cent and so
distributed to registered holders entitled thereto and any balance not so distributable shall be held by the Depositary (without liability for interest thereon) and shall be added to and be treated as part of the next succeeding distribution to
record holders of such Receipts. Each holder of a Receipt shall provide the Depositary with a properly completed Form W-8 (i.e., Form W-8BEN, Form W-8EXP, Form W-8IMY, Form W8ECI or another applicable Form W-8) or Form W-9 (which form shall set
forth such holder’s certified taxpayer identification number if requested on such form), as may be applicable. Each holder of a Receipt acknowledges that, in the event of non-compliance with the preceding sentence the Internal Revenue Code of
1986 as amended, may require withholding by the Depositary of a portion of any of the distribution to be made hereunder. 
 SECTION
4.02. Distributions Other Than Cash. 
 Whenever the Depositary shall receive any distribution other than cash on the
deposited Preferred Stock, the Depositary shall, subject to Section 3.02, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.04 such amounts of the securities or property received by it as are, as
nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders, in any manner that the Depositary and the Company may deem equitable and practicable for accomplishing such
distribution. The Depositary shall not make any distribution of securities to the holders of Receipts unless the Company shall have provided to the Depositary an opinion of counsel stating that such securities have been registered under the
Securities Act or do not need to be registered. 
 SECTION 4.03. Rights, Preferences or Privileges. 

(a) If the Company shall at any time offer or cause to be offered to the persons in whose names deposited Preferred Stock is registered on the
books of the Company any rights, 

  
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preferences or privileges of any nature, such rights, preferences or privileges shall in each such instance be made available by the Depositary to the record holders of Receipts in such manner as
the Company shall instruct (including by the issue to such record holders of warrants representing such rights, preferences or privileges); provided, however, that (a) if at the time of issue or offer of any such rights, preferences or
privileges the Company determines upon advice of its legal counsel that it is not lawful or feasible to make such rights, preferences or privileges available to the holders of Receipts (by the issue of warrants or otherwise) or (b) if and to
the extent instructed by holders of Receipts who do not desire to exercise such rights, preferences or privileges, the Depositary shall then, if so directed by the Company and provided with an opinion of counsel that if the Depositary undertakes
such actions it will not be deemed an “issuer” under the Securities Act or an “investment company” under the Investment Company Act of 1940, as amended, and if applicable laws or the terms of such rights, preferences or
privileges so permit, sell such rights, preferences or privileges of such holders at public or private sale, at such place or places and upon such terms as it may deem proper. The net proceeds of any such sale shall, subject to Section 3.01 and
Section 3.02, be distributed by the Depositary to the record holders of Receipts entitled thereto as provided by Section 4.01 in the case of a distribution received in cash. The Depositary shall not make any distribution of such rights,
preferences or privileges, unless the Company shall have provided to the Depositary an opinion of counsel stating that such rights, preferences or privileges have been registered under the Securities Act or do not need to be registered. 

(b) If registration under the Securities Act of the securities to which any rights, preferences or privileges relate is required in order for
holders of Receipts to be offered or sold the securities to which such rights, preferences or privileges relate, the Company agrees that it will promptly notify the Depositary of such requirement, that it will promptly file a registration statement
pursuant to the Securities Act with respect to such rights, preferences or privileges and securities and use its commercially reasonable efforts and take all steps available to it to cause such registration statement to become effective sufficiently
in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. In no event shall the Depositary make available to the holders of Receipts any right, preference or
privilege unless and until such a registration statement shall have become effective or unless the offering and sale of such securities to such holders are exempt from registration under the provisions of the Securities Act and the Company shall
have provided to the Depositary an opinion of counsel to such effect. 
 (c) If any other action under the law of any jurisdiction or any
governmental or administrative authorization, consent or permit is required in order for such rights, preferences or privileges to be made available to holders of Receipts, the Company agrees that it will promptly notify the Depositary of such
requirement and to use its commercially reasonable efforts to take such action or obtain such authorization, consent or permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise
such rights, preferences or privileges. 
 (d) The Depositary will not be deemed to have any knowledge of any item for which it is supposed
to receive notification under any Section of this Deposit Agreement unless and until it has received such notification. 

  
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 SECTION 4.04. Notice of Dividends; Fixing of Record Date for Holders of
Receipts. 
 Whenever any cash dividend or other cash distribution shall become payable, any distribution other than cash
shall be made, or any rights, preferences or privileges shall at any time be offered, with respect to the deposited Preferred Stock, or whenever the Depositary shall receive notice of (i) any meeting at which holders of such Preferred Stock are
entitled to vote or of which holders of such Preferred Stock are entitled to notice or (ii) any election on the part of the Company to redeem any shares of such Preferred Stock, the Depositary shall in each such instance fix a record date
(which shall be the same date as the record date fixed by the Company with respect to the Preferred Stock) for the determination of the holders of Receipts who shall be entitled to receive such dividend, distribution, rights, preferences or
privileges or the net proceeds of the sale thereof, to give instructions for the exercise of voting rights at any such meeting or to receive notice of such meeting or whose Depositary Shares are to be so redeemed. 

SECTION 4.05. Voting Rights. 

Upon receipt of notice of any meeting at which the holders of deposited Preferred Stock are entitled to vote, the Depositary shall, as soon as
practicable thereafter, mail to the record holders of Receipts a notice, by electronic mail or first-class postage prepaid mail, which shall be provided by the Company and which shall contain (i) such information as is contained in such notice
of meeting, (ii) a statement that the holders of Receipts at the close of business on a specified record date fixed pursuant to Section 4.04 will be entitled, subject to any applicable provision of law, to instruct the Depositary as to the
exercise of the voting rights pertaining to the amount of Preferred Stock represented by their respective Depositary Shares and (iii) a brief statement as to the manner in which such instructions may be given. Upon the request of a holder of a
Receipt on such record date, the Depositary shall insofar as practicable vote or cause to be voted the amount of Preferred Stock represented by the Depositary Shares evidenced by such Receipt in accordance with the instructions set forth in such
request. To the extent any such instructions request the voting of a fractional interest of a share of deposited Preferred Stock, the Depositary shall aggregate such interest with all other fractional interests resulting from requests with the same
voting instructions and shall vote the number of whole votes resulting from such aggregation in accordance with the instructions received in such requests. Each share of Preferred Stock is entitled to one vote and, accordingly, each Depositary Share
is entitled to 1/1000th of a vote. The Company hereby agrees to take all reasonable action that may be deemed necessary by the Depositary in order to enable the Depositary to vote such Preferred
Stock or cause such Preferred Stock to be voted. In the absence of specific instructions from the holder of a Receipt, the Depositary will not vote the amount of Preferred Stock represented by such Depositary Shares. The Depositary shall not
exercise any discretion in voting any Preferred Stock represented by the Depositary Shares evidenced by such Receipt. 
 SECTION
4.06. Changes Affecting Preferred Stock and Reorganization Events. 
 Upon any change in liquidation preference, par or
stated value, split-up, combination or any other reclassification of the Preferred Stock, any Reorganization Event or any exchange of the Preferred Stock for cash, securities or other property, the Depositary shall, upon the written instructions of
the Company setting forth any of the following adjustments, (i) reflect such adjustments in the Depositary’s books and records in the fraction of an interest represented by 

  
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one Depositary Share in one share of Preferred Stock as may be required by or as is consistent with the provisions of the Certificate of Designation to fully reflect the effects of such change in
liquidation preference, par or stated value, split-up, combination or other reclassification of Preferred Stock, of such Reorganization Event or of such exchange and (ii) treat any shares of stock or other securities or property (including
cash) that shall be received by the Depositary in exchange for or in respect of the Preferred Stock as new deposited property under this Deposit Agreement, and Receipts then outstanding shall thenceforth represent the proportionate interests of
holders thereof in the new deposited property so received in exchange for or in respect of such Preferred Stock. In any such case the Depositary may, upon the receipt of written request of the Company, execute and deliver additional Receipts, or may
call for the surrender of all outstanding Receipts to be exchanged for new Receipts specifically describing such new deposited property. 

SECTION 4.07. Inspection of Reports. 

The Depositary shall make available for inspection by holders of Receipts at the Depositary Office and at such other places as it may from time
to time deem advisable during normal business hours any reports and communications received from the Company that are both received by the Depositary as the holder of deposited Preferred Stock and made generally available to the holders of the
Preferred Stock. In addition, the Depositary shall transmit, upon written request by the Company, certain notices and reports to the holders of Receipts as provided in Section 5.11. 

SECTION 4.08. Lists of Receipt Holders. 

Promptly upon request from time to time by the Company, the Registrar shall furnish to the Company a list, as of a recent date specified by the
Company, of the names, addresses and holdings of Depositary Shares of all persons in whose names Receipts are registered on the books of the Registrar. 

SECTION 4.09. Withholding. 

Notwithstanding any other provision of this Deposit Agreement, in the event that the Depositary determines that any distribution in property is
subject to any tax or other governmental charge which the Depositary is obligated by law to withhold, the Depositary may dispose of, by public or private sale, all or a portion of such property in such amounts and in such manner as the Depositary
deems necessary and practicable to pay such taxes, and the Depositary shall distribute the net proceeds of any such sale or the balance of any such property after deduction of such taxes to the holders of Receipts entitled thereto in proportion to
the number of Depositary Shares held by them, respectively; provided, however, that in the event the Depositary determines that such distribution of property is subject to withholding tax only with respect to some but not all holders of Receipts,
the Depositary will use its best efforts (i) to sell only that portion of such property distributable to such holders that is required to generate sufficient proceeds to pay such withholding tax and (ii) to effect any such sale in such a
manner so as to avoid affecting the rights of any other holders of Receipts to receive such distribution in property. 

  
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 ARTICLE V 

THE DEPOSITARY AND THE COMPANY 

SECTION 5.01. Appointment of Calculation Agent.  

The Company hereby appoints Wilmington Trust, National Association as Calculation Agent with respect to the Preferred Stock. The Calculation
Agent hereby accepts its appointment for the purposes of calculating the dividend rate of the Preferred Stock for each dividend payment period, upon the terms and conditions set forth herein. 

SECTION 5.02. Calculation of Dividend Rate. 

The Calculation Agent shall calculate the dividend rate of the Preferred Stock for each dividend payment period in accordance with the
Company’s Certificate of Incorporation and shall communicate the same to the Company on the LIBOR determination date (as defined in the Certificate of Incorporation) for each dividend payment period. The Company shall communicate such rate to
the Transfer Agent for the Preferred Stock. 
 SECTION 5.03. Status of Calculation Agent. 

Any acts taken by the Calculation Agent under this Agreement or in connection with the Preferred Stock including, specifically, but without
limitation, the calculation of any dividend rate for the Preferred Stock, shall be deemed to have been taken by the Calculation Agent solely in its capacity as an agent acting on behalf of the Company and shall not create or imply any obligation to,
or any trust or agency relationship with, any of the beneficial owners or holders of the Receipts. 
 SECTION 5.04. Notice of
Dividend Rate. 
 To the extent the Depositary is not the Calculation Agent, the Company shall notify the Depositary of the dividend
rate on the LIBOR determination date (as defined in the Certificate of Incorporation). 
 SECTION 5.05. Rights, Protections,
Privileges and Indemnities of Calculation Agent. 
 The Calculation Agent shall be entitled to all of the rights, protections,
privileges and indemnities as are granted to the Depositary pursuant to this Deposit Agreement. 
 SECTION 5.06. Maintenance of
Offices, Agencies and Transfer Books by the Depositary and the Registrar. 
 (a) The Depositary shall maintain at the
Depositary Office facilities for the execution and delivery, transfer, surrender and exchange, split-up, combination and redemption of Receipts and deposit and withdrawal of Preferred Stock and at the offices of the Depositary’s Agents, if any,
facilities for the delivery, transfer, surrender and exchange, split-up, combination and 

  
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redemption of Receipts and deposit and withdrawal of Preferred Stock, all in accordance with the provisions of this Deposit Agreement. 

(b) The Registrar shall keep books at the Depositary Office for the registration and transfer of Receipts, which books at all reasonable times
shall be open for inspection by the record holders of Receipts as provided by applicable law. The Company may cause the Registrar to close such books, at any time or from time to time, when deemed expedient by it in connection with the performance
of its duties hereunder. 
 (c) If the Receipts or the Depositary Shares evidenced thereby or the Preferred Stock represented by such
Depositary Shares shall be listed on the NASDAQ Global Select Market or any other stock exchange, the Depositary and the Company hereby appoint the Registrar to serve as the registrar for registration of such Receipts or Depositary Shares in
accordance with the requirements of such exchange. The Registrar may be removed from serving as the registrar for registration of the Receipts or Depositary Shares in accordance with the requirements of the listing stock exchange by the Depositary
or the Company, in which case the Company shall appoint a substitute registrar. If the Receipts, such Depositary Shares or such Preferred Stock are listed on one or more other stock exchanges, the Registrar will, at the request and expense of the
Company, arrange such facilities for the delivery, transfer, surrender, redemption and exchange of such Receipts, such Depositary Shares or such Preferred Stock as may be required by law or applicable stock exchange regulations. 

SECTION 5.07. Prevention or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the
Company. 
 None of the Depositary, any Depositary’s Agent, any Registrar, any Transfer Agent, or the Company shall incur
any liability to any holder of any Receipt, if by reason of any provision of any present or future law or regulation thereunder of the United States of America or of any other governmental authority or, in the case of the Depositary, the
Depositary’s Agent or the Registrar or Transfer Agent, by reason of any provision, present or future, of the Certificate of Incorporation or, in the case of the Company, the Depositary, the Depositary’s Agent, the Transfer Agent or the
Registrar, by reason of any act of God or war or other circumstance beyond the control of the relevant party, the Depositary, any Depositary’s Agent, the Transfer Agent, the Registrar or the Company shall be prevented or forbidden from doing or
performing any act or thing that the terms of this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any Depositary’s Agent, the Transfer Agent, any Registrar or the Company incur any liability to any holder of a
Receipt by reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing that the terms of this Deposit Agreement provide shall or may be done or performed, or by reason of any exercise of, or failure to
exercise, any discretion provided for in this Deposit Agreement. 
 SECTION 5.08. Obligations of the Depositary, the
Depositary’s Agents, the Registrar and the Company. 
 (a) Except as otherwise provided by this Deposit Agreement
(including without limitation Section 5.12), the Company does not assume any obligation or shall be subject to any liability under this Deposit Agreement or any Receipt to holders of Receipts other than from acts

  
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or omissions arising out of conduct constituting bad faith, gross negligence or willful misconduct in the performance of such duties as are specifically set forth in this Deposit Agreement.
Neither the Depositary nor any Depositary’s Agent nor any Transfer Agent or Registrar assumes any obligation or shall be subject to any liability under this Deposit Agreement to holders of Receipts, the Company or any other person or entity
other than for its bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction).
Notwithstanding anything to the contrary contained herein, neither the Depositary, nor any Depositary’s Agent nor any Transfer Agent or Registrar shall be liable for any special, indirect, incidental, consequential, punitive or exemplary
damages, including but not limited to, lost profits, even if such person or entity alleged to be liable has knowledge of the possibility of such damages. Any liability of the Depositary and any Registrar or Transfer Agent under this Deposit
Agreement will be limited to the amount of annual fees paid by the Company to the Depositary or any Registrar or Transfer Agent. 
 (b) None
of the Depositary, any Depositary’s Agent, any Registrar or Transfer Agent or the Company shall be under any obligation to appear in, prosecute or defend any action, suit or other proceeding with respect to the deposited Preferred Stock,
Depositary Shares or Receipts that in its opinion may involve it in expense or liability, unless indemnity satisfactory to it against all expense and liability be furnished as often as may be required. 

(c) None of the Depositary, any Depositary’s Agent, any Registrar or Transfer Agent or the Company shall be liable for any action or any
failure to act by it in reliance upon the advice of legal counsel or accountants, or information provided by any person presenting Preferred Stock for deposit or any holder of a Receipt. The Depositary, any Depositary’s Agent, any Registrar or
Transfer Agent and the Company may each rely and shall each be protected in acting upon any written notice, request, direction or other document believed by it to be genuine and to have been signed or presented by the proper party or parties. 

(d) In the event the Depositary shall receive conflicting claims, requests or instructions from any holders of Receipts, on the one hand, and
the Company, on the other hand, the Depositary shall be entitled to act on such claims, requests or instructions received from the Company, and shall incur no liability and shall be entitled to the full indemnification set forth in Section 5.06
in connection with any action so taken. 
 (e) The Depositary shall not be responsible for any failure to carry out any instruction to vote
any of the deposited Preferred Stock or for the manner or effect of any such vote made, as long as any such action or non-action does not result from bad faith, gross negligence or willful misconduct of the Depositary (which bad faith, gross
negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction). The Depositary undertakes, and any Registrar or Transfer Agent shall be required to undertake, to
perform such duties and only such duties as are specifically set forth in this Deposit Agreement, and no implied covenants or obligations shall be read into this Deposit Agreement against the Depositary or any Registrar or Transfer Agent. 

(f) The Depositary, its parent, affiliate, or subsidiaries, any Depositary’s Agent, and any Registrar or Transfer Agent may own, buy, sell
or deal in any class of securities of the 

  
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Company and its affiliates and in Receipts or Depositary Shares or become pecuniarily interested in any transaction in which the Company or its affiliates may be interested or contract with or
lend money to or otherwise act as fully or as freely as if it were not the Depositary or the Depositary’s Agent hereunder. The Depositary may also act as transfer agent or registrar of any of the securities of the Company and its affiliates or
act in any other capacity for the Company or its affiliates. 
 (g) It is intended that neither the Depositary nor any Depositary’s
Agent shall be deemed to be an “issuer” of the securities under the federal securities laws or applicable state securities laws, it being expressly understood and agreed that the Depositary and any Depositary’s Agent are acting only
in a ministerial capacity as Depositary for the deposited Preferred Stock; provided, however, that the Depositary agrees to comply with all information reporting and withholding requirements applicable to it under law or this Deposit Agreement in
its capacity as Depositary. 
 (h) Neither the Depositary (or its officers, directors, employees, agents or affiliates) nor any
Depositary’s Agent makes any representation or has any responsibility as to the validity of the registration statement pursuant to which the Depositary Shares are registered under the Securities Act, the deposited Preferred Stock, the
Depositary Shares, the Receipts (except its countersignature thereon) or any instruments referred to therein or herein, or as to the correctness of any statement made therein or herein; provided, however, that the Depositary is responsible for its
representations in this Deposit Agreement. 
 (i) The Company agrees that it will register the deposited Preferred Stock and the Depositary
Shares in accordance with the applicable securities laws. 
 (j) In the event the Depositary, the Depositary’s Agent or any Registrar or
Transfer Agent believes any ambiguity or uncertainty exists in any notice, instruction, direction, request or other communication, paper or document received by it pursuant to this Deposit Agreement, the Depositary, the Depositary’s Agent,
Transfer Agent or Registrar shall promptly notify the Company of the details of such alleged ambiguity or uncertainty, and may, in its sole discretion, refrain from taking any action, and the Depositary, the Depositary’s Agent, Transfer Agent
or Registrar shall be fully protected and shall incur no liability to any person from refraining from taking such action, absent bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct must be
determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction), unless and until (i) the rights of all parties have been fully and finally adjudicated by a court of appropriate jurisdiction or
(ii) the Depositary, the Depositary’s Agent, Transfer Agent or Registrar receives written instructions with respect to such matter signed by the Company that eliminates such ambiguity or uncertainty to the satisfaction of the Depositary,
the Depositary’s Agent, Transfer Agent or Registrar. 
 (k) Whenever in the performance of its duties under this Deposit Agreement, the
Depositary, the Depositary’s Agent, Transfer Agent or Registrar shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking, suffering or omitting to take any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively provided and established by a certificate signed by any one of the President, any Executive Vice President,

  
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the Chief Financial Officer, Controller, the Treasurer, any Assistant Treasurer, Chief Executive Officer, the Secretary or Assistant Secretary of the Company and delivered to the Depositary, the
Depositary’s Agent, Transfer Agent or Registrar; and such certificate shall be full and complete authorization and protection to the Depositary, the Depositary’s Agent, Transfer Agent or Registrar, and the Depositary, the Depositary’s
Agent, Transfer Agent or Registrar shall incur no liability for or in respect of any action taken, suffered or omitted by it under the provisions of this Deposit Agreement in reliance upon such certificate. The Depositary, the Depositary’s
Agent, Transfer Agent or Registrar shall not be liable for or by reason of any of the statements of fact or recitals contained in this Deposit Agreement or in the Receipts (except its countersignature thereof) or be required to verify the same, but
all such statements and recitals are and shall be deemed to have been made by the Company only. 
 (l) The Depositary, the Depositary’s
Agent, Transfer Agent or Registrar will not be under any duty or responsibility to ensure compliance with any applicable federal or state securities laws in connection with the issuance, transfer or exchange of the Receipts, Stock or Depositary
Shares. 
 (m) Notwithstanding anything herein to the contrary, no amendment to the Certificate of Designation shall affect the rights,
duties, obligations or immunities of the Depositary, Transfer Agent, the Depositary’s Agent or Registrar hereunder. 
 (n) The
Depositary, Transfer Agent and any Registrar hereunder: 
  

	 	(i)	shall have no duties or obligations other than those specifically set forth herein (and no implied duties or obligations), or as may subsequently be agreed to in writing by the parties; 

 

	 	(ii)	shall have no obligation to make payment hereunder unless the Company shall have provided immediately available funds or securities or property, as the case may be, to pay in full amounts due and payable with respect
thereto; 

  

	 	(iii)	shall not be obligated to take any legal or other action hereunder; if, however, such person determines to take any legal or other action hereunder, and, where the taking of such action might in such person’s
judgment subject or expose it to any expense or liability, such person shall not be required to act unless it shall have been furnished with an indemnity satisfactory to it; 

 

	 	(iv)	may rely on and shall be authorized and protected in acting or failing to act upon any certificate, instrument, opinion, notice, letter, facsimile transmission or other document or security delivered to such person and
believed by such person to be genuine and to have been signed by the proper party or parties, and shall have no responsibility for determining the accuracy thereof; 

 

	 	(v)	 may rely on and shall be authorized and protected in acting or failing to act upon the written, telephonic, electronic and oral instructions, with

  
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respect to any matter relating to such person’s actions as depositary covered by this Deposit Agreement (or supplementing or qualifying any such actions) of officers of the Company;

  

	 	(vi)	may consult counsel satisfactory to it, and the advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by the Depositary hereunder in
accordance with the advice of such counsel; 

  

	 	(vii)	shall not be called upon at any time to advise any person with respect to the Depositary Shares or Receipts; 

  

	 	(viii)	shall not be liable or responsible for any recital or statement contained in any documents relating hereto or the Depositary Shares or Receipts; and 

 

	 	(ix)	shall not be liable in any respect on account of the identity, authority or rights of the parties (other than with respect to the Depositary) executing or delivering or purporting to execute or deliver this Deposit
Agreement or any documents or papers deposited or called for under this Deposit Agreement. 

 (o) The obligations of the
Company set forth in this Section 5.08 shall survive the replacement, removal or resignation of any Depositary, Registrar, Transfer Agent or Depositary’s Agent or termination of this Deposit Agreement. 

SECTION 5.09. Resignation and Removal of the Depositary; Appointment of Successor Depositary. 

(a) The Depositary may at any time resign as Depositary hereunder by notice of its election to do so delivered to the Company, such resignation
to take effect upon the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. 
 (b) The
Depositary may at any time be removed by the Company by notice of such removal delivered to the Depositary, such removal to take effect upon the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided.
Upon any such removal or appointment, the Company shall send notice thereof by electronic mail or first-class mail, postage prepaid, to the holders of Receipts. 

(c) In case at any time the Depositary acting hereunder shall resign or be removed, the Company shall, within 60 days after the delivery of the
notice of resignation or removal, as the case may be, appoint a successor depositary, which shall be an entity having its principal office in the United States of America and having a combined capital and surplus of at least $50,000,000. If a
successor depositary shall not have been appointed and have accepted appointment in 60 days, the resigning Depositary may petition a court of competent jurisdiction to appoint a successor depositary. Every successor depositary shall execute and
deliver to its predecessor and to the Company an instrument in writing accepting its appointment hereunder, and thereupon such successor depositary, without any further act or deed, shall become fully vested with all the rights, powers, duties and
obligations of its predecessor and for all purposes 

  
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shall be the Depositary under this Deposit Agreement, and such predecessor, upon payment of all sums due it and on the written request of the Company, shall promptly execute and deliver an
instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all rights, title and interest in the deposited Preferred Stock and any moneys or property held hereunder to such
successor and shall deliver to such successor a list of the record holders of all outstanding Receipts. 
 (d) Any corporation or other
entity into or with which the Depositary may be merged, consolidated or converted, or any corporation or other entity to which all or a substantial part of the assets of the Depositary may be transferred, shall be the successor of such Depositary
without the execution or filing of any document or any further act. Such successor depositary may execute the Receipts either in the name of the predecessor depositary or in the name of the successor depositary. 

(e) The provisions of this Section 5.09 as they apply to the Depositary apply to the Registrar and Transfer Agent, as if specifically
enumerated herein. 
 SECTION 5.10. Resignation and Removal of the Calculation Agent; Appointment of Successor Calculation
Agent. 
 (a) The Calculation Agent may at any time resign as Calculation Agent by giving written notice to the Company
of such intention on its part, specifying the date on which its desired resignation shall become effective; provided, however, that such date shall never be earlier than 30 days after the receipt of such notice by the Company, unless the
Company agrees to accept less notice. The Calculation Agent may be removed at any time by the filing with it of any instrument in writing signed on behalf of the Company and specifying such removal and the date when it is intended to become
effective. Such resignation or removal shall take effect upon the date of the appointment by the Company, as hereinafter provided, of a successor Calculation Agent. If within 30 days after notice of resignation or removal has been given, a successor
Calculation Agent has not been appointed, the Calculation Agent may, at the expense of the Company, petition a court of competent jurisdiction to appoint a successor Calculation Agent. A successor Calculation Agent shall be appointed by the Company
by an instrument in writing signed on behalf of the Company and the successor Calculation Agent. Upon the appointment of a successor Calculation Agent and acceptance by it of such appointment, the Calculation Agent so succeeded shall cease to be
such Calculation Agent hereunder. Upon its resignation or removal, the Calculation Agent shall be entitled to the payment by the Company of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all
out-of-pocket expenses incurred in connection with the services rendered by it hereunder and to the payment of all other amounts owed to it hereunder. 

(b) Any successor Calculation Agent appointed hereunder shall execute and deliver to its predecessor and to the Company an instrument accepting
such appointment hereunder, and thereupon such successor Calculation Agent, without any further act, deed or conveyance, shall become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with
like effect as if originally named as such Calculation Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obliged to transfer and deliver, and such successor Calculation Agent
shall be 

  
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entitled to receive, copies of any relevant records maintained by such predecessor Calculation Agent. 

(c) Any corporation into which the Calculation Agent may be merged, or any corporation with which the Calculation Agent may be consolidated, or
any corporation resulting from any merger or consolidation or to which the Calculation Agent shall sell or otherwise transfer all or substantially all of its corporate trust assets or business shall, to the extent permitted by applicable law, be the
successor Calculation Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto. Notice of any such merger, consolidation or sale shall forthwith be given to the Company. 

(d) Notwithstanding any other provision of this Deposit Agreement (including the provisions of Section 6.02), so long as any shares of
Preferred Stock remain outstanding, the obligations of the Calculation Agent under this Deposit Agreement shall survive until the Calculation Agent resigns or is removed in accordance with the provisions of this Section 5.10. 

SECTION 5.11. Notices, Reports and Documents. 

The Company agrees that it will deliver to the Depositary and the Depositary will promptly after receipt of such notice, transmit to the record
holders of Receipts, in each case at the address recorded in the Depositary’s books, copies of all notices and reports generally made available by the Company to holders of the Preferred Stock and not otherwise made publicly available. Such
transmission will be at the Company’s expense and the Company will provide the Depositary with such number of copies of such documents as the Depositary may reasonably request. In addition, the Depositary will transmit to the record holders of
Receipts at the Company’s expense such other documents as may be requested by the Company. 
 SECTION 5.12.
Indemnification by the Company. 
 The Company shall indemnify the Depositary, any Depositary’s Agent and any
Transfer Agent or Registrar against, and hold each of them harmless from, any loss, liability, damage, cost or expense (including the costs and expenses of defending itself) which may arise out of (i) acts performed or omitted in connection
with this Deposit Agreement and the Receipts (a) by the Depositary, any Transfer Agent or Registrar or any of their respective agents (including any Depositary’s Agent), except for any liability arising out of bad faith, gross negligence
or willful misconduct (which bad faith, gross negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction) on the respective parts of any such person or
persons, or (b) by the Company or any of its agents, or (ii) the offer, sale or registration of the Receipts or shares of Stock pursuant to the provisions hereof. The obligations of the Company set forth in this Section 5.12 shall
survive the replacement, removal or resignation of any Depositary, Registrar, Transfer Agent or Depositary’s Agent or termination of this Deposit Agreement. In no event shall the Depositary have any right of set off or counterclaim against the
Depositary Shares or the Preferred Stock. 
 SECTION 5.13. Fees, Charges and Expenses. 

No charges and expenses of the Depositary or any Depositary’s Agent hereunder shall be payable by any person, except as provided in this
Section 5.13. The Company shall pay all 

  
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transfer and other taxes and governmental charges arising solely from the existence of this Deposit Agreement. The Company shall also pay all fees and expenses of the Depositary and the
Calculation Agent in connection with the initial deposit of the Preferred Stock and the initial issuance of the Depositary Shares evidenced by the Receipts, any redemption of the Preferred Stock at the option of the Company and all withdrawals of
the Preferred Stock by holders of Receipts as previously agreed between the Depositary and the Company. All other fees and expenses of the Depositary, the Calculation Agent and any Depositary’s Agent hereunder and of any Registrar or Transfer
Agent (including, in each case, fees and expenses of counsel) incurred in the preparation, delivery, amendment, administration and execution of this Deposit Agreement and incident to the performance of their respective obligations hereunder will be
paid by the Company as previously agreed between the Depositary and the Company or any Registrar or Transfer Agent; provided that Holders of Depositary Shares shall pay any transfer fees, taxes or governmental charges and other such charges as
expressly provided in this Deposit Agreement. The Depositary and the Calculation Agent (and if applicable, the Transfer Agent and Registrar) shall present its statement for fees and expenses to the Company annually or at such other intervals as the
Company and the Depositary may agree. 

  
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 ARTICLE VI 

AMENDMENT AND TERMINATION 

SECTION 6.01. Amendment. 

The form of the Receipts and any provision of this Deposit Agreement may at any time and from time to time be amended by agreement between the
Company and the Depositary without the consent of holders of Receipts in any respect that the Company and the Depositary may deem necessary or desirable; provided, however, that no such amendment (other than any change in the fees of any Depositary,
Registrar or Transfer Agent that are payable by the Company) which (i) shall materially and adversely alter the rights of the holders of Receipts or (ii) would be materially and adversely inconsistent with the rights granted to the holders
of the Preferred Stock pursuant to the Certificate of Incorporation shall be effective unless such amendment shall have been approved by the holders of Receipts evidencing at least a majority of the affected Depositary Shares then outstanding. In no
event shall any amendment impair the right, subject to the provisions of Section 2.05 and Article III, of any holder of any Receipts evidencing such Depositary Shares to surrender any Receipt with instructions to the Depositary to deliver to
the holder the deposited Preferred Stock and all money and other property, if any, represented thereby, except in order to comply with mandatory provisions of applicable law. Every holder who retains or acquires Receipts after an amendment becomes
effective shall be deemed, by continuing to hold such Receipt, to consent and agree to such amendment and to be bound by this Deposit Agreement as amended thereby. 

SECTION 6.02. Termination. 

(a) This Deposit Agreement may be terminated by the Company upon not less than 35 days’ prior written notice to the Depositary, and the
Depositary shall give notice of the termination to record holders of all outstanding Depositary Shares not less than 30 days’ before the termination date. In the event of such termination, the Depositary shall deliver or make available to each
holder of a Receipt, upon surrender of the Receipt held by such holder, such number of whole or fractional shares of deposited Preferred Stock as are represented by the Depositary Shares evidenced by such Receipt, together with any other property
held by the Depositary in respect of such Receipt. This Deposit Agreement will automatically terminate if (i) all outstanding Depositary Shares shall have been redeemed in accordance with the provisions hereof or (ii) there shall have been
made a final distribution in respect of the deposited Preferred Stock in connection with any liquidation, dissolution or winding up of the Company and such distribution shall have been distributed to the holders of Receipts entitled thereto. 

(b) Upon the termination of this Deposit Agreement, the Depositary shall discontinue the transfer of Depositary Receipts, suspend the
distribution of dividends and not give any further notices (other than notice of such termination) or perform any further acts, except that the Depositary will continue to collect dividends and other distributions on the Preferred Stock and deliver
such dividends along with the Preferred Stock certificates in exchange for Receipts surrendered. At any time after the expiration of three years from the date of termination, the Depositary may sell the Preferred Stock and hold the proceeds of such
sale, without interest, for the benefit of the record holders of Receipts who have not then surrendered their Receipts. After 

  
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making such sale, the Depositary shall be discharged from all obligations under this Deposit Agreement, except to account for the proceeds of such sale. 

(c) Upon the termination of this Deposit Agreement, the Company shall be discharged from all obligations under this Deposit Agreement except
for its obligations to the Depositary, any Depositary’s Agent and any Transfer Agent or Registrar under Section 5.12 and Section 5.13. 

(d) Upon the termination of this Deposit Agreement, the Calculation Agent shall be discharged from all obligations under this Deposit Agreement
except for its obligations with respect to the Preferred Stock under Sections 5.02 and 5.03, which shall continue until the earlier of such time as (i) a successor calculation agent is appointed pursuant to Section 5.10 or (ii) no
shares of Preferred Stock are outstanding. 

  
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 ARTICLE VII 

MISCELLANEOUS 

SECTION 7.01. Counterparts. 

This Deposit Agreement may be executed in any number of counterparts, and by each of the parties hereto on separate counterparts, each of which
counterparts, when so executed and delivered, shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Deposit Agreement by
facsimile shall be effective as delivery of a manually executed counterpart of this Deposit Agreement. 
 SECTION 7.02.
Exclusive Benefits of Parties. 
 This Deposit Agreement is for the exclusive benefit of the parties hereto, and their
respective successors hereunder, and shall not be deemed to give any legal or equitable right, remedy or claim to any other person whatsoever. 

SECTION 7.03. Invalidity of Provisions. 

In case any one or more of the provisions contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be affected, prejudiced or disturbed thereby; provided, however, that if such provision affects the
rights, duties, liabilities or obligations of the Depositary, the Depositary shall be entitled to resign immediately. 
 SECTION
7.04. Notices. 
 (a) Any and all notices to be given to the Company hereunder or under the Receipts shall be in writing
and shall be deemed to have been duly given if personally delivered or sent by mail, or by facsimile transmission confirmed by letter, addressed to the Company at: 

Fifth Third Bancorp 
 38 Fountain
Square Plaza 
 Cincinnati, Ohio 45263 

Tel: (513) 534-5300 
 Fax:
(513) 534-6757 
 Attention: Mary E. Tuuk, Executive Vice President of Corporate Services and Board Secretary 

with a copy to : 
 Graydon
Head & Ritchey, LLP 
 511 Walnut Street 

Cincinnati, Ohio 45202 

  
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 Tel: (513) 621-6464 

Fax: (513) 651-3836 

Attention: Richard G. Schmalzl, Esquire 

or at any other address of which the Company shall have notified the Depositary in writing. 

(b) Any notices to be given to the Depositary hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given
if personally delivered or sent by mail, or telecopier confirmed by letter, addressed to the Depositary: 
 Wilmington Trust, National
Association 
 Rodney Square North 

1100 N. Market Street 

Wilmington, Delaware 19890 
 Tel:
(302) 636-6398 
 Fax: (302) 636-4145 

Attention: Global Capital Markets 

with a copy to: 
 Richards,
Layton & Finger, P.A. 
 920 North King Street 

Wilmington, Delaware 19801 
 Tel:
(302) 651-7594 
 Fax: (302) 498-7594 

Attention: J. Weston Peterson, Esquire 

(c) Any notices to be given to the Transfer Agent or Registrar hereunder or under the Receipts shall be in writing and shall be deemed to have
been duly given if personally delivered or sent by mail, or telecopier confirmed by letter, addressed to the Transfer Agent or Registrar: 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 

Brooklyn, New York 11219 

Attention: Wendy Cappiello 
 with
a copy to: 
 American Stock Transfer & Trust Company, LLC 

10150 Mallard Creek Road 
 Suite
307 
 Charlotte, North Carolina 28262 

Attention: Myron O. Gray 
 (d) Any
notices given to any record holder of a Receipt hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given if personally delivered 

  
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or sent by mail, recognized next-day courier service or telecopier confirmed by letter, addressed to such record holder at the address of such record holder as it appears on the books of the
Depositary provided that any record holder may direct the Depositary to deliver notices to such record holder at an alternate address or in a specific manner that is reasonably requested by such record holder in a written request timely filed with
the Depositary and that is reasonably acceptable to the Depositary. 
 (e) Delivery of a notice sent by mail shall be deemed to be effected
at the time when a duly addressed letter containing the same (or a confirmation thereof in the case of a facsimile message) is deposited, postage prepaid, in a post office letter box, or in the case of a next-day courier service, when deposited with
such courier, courier fees prepaid. The Depositary or the Company may, however, act upon any facsimile message received by it from the other or from any holder of a Receipt, notwithstanding that such facsimile message shall not subsequently be
confirmed by letter as aforesaid. 
 SECTION 7.05. Depositary’s Agents. 

The Depositary may from time to time appoint Depositary’s Agents to act in any respect for the Depositary for the purposes of this Deposit
Agreement and may at any time appoint additional Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The Depositary will notify the Company of any such action. 

SECTION 7.06. Holders of Receipts Are Parties. 

The holders of Receipts from time to time shall be deemed to be parties to this Deposit Agreement and shall be bound by all of the terms and
conditions hereof and of the Receipts by acceptance of delivery thereof to the same extent as though such person executed this Deposit Agreement. 

SECTION 7.07. Governing Law. 

This Deposit Agreement and the Receipts and all rights hereunder and thereunder and provisions hereof and thereof shall be governed by, and
construed in accordance with, the law of the State of Delaware applicable to agreements made and to be performed in said State, without regard to conflicts of laws principles thereof. 

SECTION 7.08. Inspection of Deposit Agreement and Certificate of Designation. 

Copies of this Deposit Agreement and the Certificate of Designation shall be filed with the Depositary and the Depositary’s Agents and
shall be open to inspection during business hours at the Depositary Office by any holder of any Receipt. 
 SECTION 7.09.
Headings. 
 The headings of articles and sections in this Deposit Agreement and in the form of the Receipt set forth in
Exhibit A hereto have been inserted for convenience only and are not to be regarded as a part of this Deposit Agreement or to have any bearing upon the meaning or interpretation of any provision contained herein or in the Receipts. 

  
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 IN WITNESS WHEREOF, the parties hereto have duly executed this Deposit Agreement as of the day
and year first above set forth and all holders of Receipts shall become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof. 

 

	
	FIFTH THIRD BANCORP,
	as Issuer
	
	 /s/ Tayfun Tuzun

	By:
	Name: Tayfun Tuzun
	Title: Executive Vice President and
	          Chief Financial Officer
	
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Depositary and Calculation Agent,

	
	 /s/ Michael H. Wass

	By:
	Name: Michael H. Wass
	Title: Assistant Vice President
	
	 AMERICAN STOCK TRANSFER & TRUST

COMPANY, LLC,
 as Transfer Agent and Registrar,

	
	 /s/ Paula Caroppoli

	By:
	Name: Paula Caroppoli
	Title: Senior Vice President

  
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Table of Contents

 EXHIBIT A 

FORM OF FACE OF RECEIPT 

UNLESS THIS RECEIPT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
NEW YORK, NEW YORK, TO THE CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY RECEIPT ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
CERTIFICATE OF DESIGNATION REFERRED TO BELOW. 
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER
AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR AND TRANSFER AGENT MAY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS OF SAID AGREEMENT. ANY SALE OR OTHER TRANSFER NOT IN
COMPLIANCE WITH SAID AGREEMENT WILL BE VOID. 
 Certificate
Number            Number of Depositary Shares 

  
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Table of Contents

 FIFTH THIRD BANCORP 

RECEIPT FOR DEPOSITARY SHARES 

EACH REPRESENTING 1/1000TH OF A SHARE OF 

6.625% FIXED-TO-FLOATING RATE NON-CUMULATIVE 

PERPETUAL PREFERRED STOCK, SERIES I 

(LIQUIDATION PREFERENCE $25,000 PER SHARE) 

Wilmington Trust, National Association, as Depositary (the “Depositary”), hereby certifies that
                    is the registered owner of Depositary Shares (“Depositary Shares”), each Depositary Share representing 1/1000th of an ownership interest in a share of 6.625% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I, liquidation preference of $25,000 per share (the “Stock”), of Fifth
Third Bancorp, an Ohio corporation (the “Company”), on deposit with the Depositary, subject to the terms and entitled to the benefits of the Deposit Agreement dated December 9, 2013 (the “Deposit Agreement”), among the
Company, the Depositary, American Stock Transfer & Trust Company, LLC and the holders from time to time of Receipts for Depositary Shares (“Depositary Share Receipts”). By accepting this Depositary Share Receipts, the holder
hereof becomes a party to and agrees to be bound by all the terms and conditions of the Deposit Agreement. This Depositary Share Receipts shall not be valid or obligatory for any purpose or entitled to any benefits under the Deposit Agreement unless
it shall have been executed by the Depositary by the manual or facsimile signature of a duly authorized officer and, if a Registrar in respect of the Depositary Share Receipts (other than the Depositary) shall have been appointed, by the manual
signature of a duly authorized officer of such Registrar. 
  

					
	Dated:	 		 	
		 	Wilmington Trust, National Association, as Depositary
			
		 	By:                                     
                                         
                                       	 	
		 	      Authorized Signatory	 	
		
	Countersigned:                    	 	American Stock Transfer & Trust Company, LLC, as Registrar
			
		 	By:                                     
                                         
                                       	 	
		 	      Authorized Signatory	 	

  
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Table of Contents

 [FORM OF REVERSE OF RECEIPT] 

The following abbreviations when used in the instructions on the face of this receipt shall be construed as though they were written out in
full according to applicable laws or regulations. 
  

			
		 	TEN COM - as tenant in common                     UNIF GIFT MIN ACT -
		
		 	Custodian
		
		 	(Cust)          (Minor)
		
		 	TEN ENT - as tenants by the entireties              Under Uniform Gifts to Minors Act
		
		 	JT TEN - as joint tenants with right of survivorship and not as tenants in common
		
		 	(State)
		
		 	Additional abbreviations may also be used though not in the above list.
		
		 	ASSIGNMENT
		
		 	For value received,
                                         
        hereby sell(s), assign(s) and
		
		 	transfer(s) unto
		
		 	PLEASE INSERT SOCIAL SECURITY OR
		
		 	OTHER IDENTIFYING NUMBER OF ASSIGNEE, AS APPLICABLE
		
		 	PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS
		
		 	INCLUDING POSTAL ZIP CODE OF ASSIGNEE
		
		 	Depositary Shares represented by the within

 Receipt, and do hereby irrevocably constitute and appoint Attorney to transfer the said Depositary Shares on
the books of the within named Depositary with full power of substitution in the premises. 
 Dated 

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

NOTICE: The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations, and
credit unions with membership in an 

  
 36 

Table of Contents

 
approved signature guarantee medallion program), pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934. 

  
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Table of Contents

 EXHIBIT B 

CERTIFICATE OF DESIGNATION 

See Exhibit 4.1 to Form 8-K filed by Fifth Third Bancorp on December 9, 2013 for a copy of the Amendment to the Articles of
Incorporation, as amended. 

  
 38EX-10.64

 Exhibit 10.64 

EMPLOYMENT AGREEMENT 
 THIS
AGREEMENT (this “Agreement”) is made and entered into as of the 9th day of September, 2013, by and between Perry Ellis International, Inc., a Florida corporation (together with its
successors and assigns permitted under this Agreement, the “Company”), and Stanley Silverstein (the “Executive”). 

WITNESSETH 
 WHEREAS, the Company
desires to employ the Executive as its President, International Development and Global Licensing, according to the terms and conditions as set forth in this Agreement; 

WHEREAS, the Executive desires to enter into this Agreement and to accept such employment; 

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the
Company and the Executive (each individually a “Party” and together the “Parties”) agree as follows: 
 1. Term of
Employment. The Company hereby employs the Executive, and the Executive hereby accepts such employment, for the period commencing on September 9, 2013 (the “Effective Date”) and ending on the fifth anniversary of the Effective
Date, unless terminated earlier as provided herein (such period or abbreviated period referred to as the “Term”). 
 2.
Position, Duties and Responsibilities: Reporting. During the Term, the Executive shall be employed as President, International Development and Global Licensing, shall be appointed as an executive officer of the Company, and shall be
responsible for certain operations and other general management of the affairs of the Company and for such duties and responsibilities as reasonably assigned by the Company consistent with the legitimate business needs of the Company. The Executive
shall serve the Company faithfully, conscientiously and to the best of the Executive’s ability and shall promote the interests and reputation of the Company. The Executive shall devote substantially all of the Executive’s time, attention,
knowledge, energy and skills to the duties of the Executive’s employment. During the Term, the Executive shall undertake no employment other than for the Company without the express written consent of the Company’s Chief Executive Officer.
The Executive shall report solely and directly to the Chief Executive Officer and President of the Company. Provided that the following activities do not interfere with the Executive’s duties and responsibilities, the Executive may
(i) engage in charitable and community affairs, so long as such activities are consistent with his duties and responsibilities under this Agreement, (ii) manage his personal investments so long as such investments are not in conflict with
the business of the Company, and (iii) serve on the boards of directors of other companies subject to the written approval of the Company’s Chief Executive Officer. Executive shall report to Chief Executive Officer and President of the
Company. 

  
 1 

 3. Base Salary. During the Term, the Executive shall be paid an annualized base salary of
five hundred thousand dollars ($500,000.00), payable in installments in accordance with the Company’s regular payroll practices, subject to deduction for taxes and voluntary payroll deductions, and shall be reviewed annually for purposes of
increase in the discretion of the Chief Executive Officer (such base salary, as it may be increased from time to time, “Base Salary”). 

4. Annual Incentive Compensation Program. 

(a) During the Term, the Executive shall participate in the Company’s annual incentive compensation plan, program and/or arrangements
applicable to senior-level executives as established and modified from time to time by the board of directors of the Company (the “Board”) in its sole discretion. During the Term, the Executive shall have a Threshold Bonus opportunity
under such plan or program of 40% of his current Base Salary, a Target Bonus opportunity under such plan or program of not less than 100% of his current Base Salary, and a Maximum Bonus opportunity under such plan or program of not less than 130% of
his current Base Salary, in each case based on satisfaction of performance criteria to be established by the Compensation Committee of the Board (the “Bonus Opportunity”). Payment of annual incentive compensation awards shall be made in
the same manner and at the same time that other senior-level executives receive their annual incentive compensation awards. The Executive shall first be eligible to participate in the fiscal year 2015 plan. The Executive shall not be eligible for an
incentive compensation award in fiscal year 2014 other than as described in Section 4(b) hereof. 
 (b) The Executive shall be paid the
gross amount of One Hundred, Seventy-Five Thousand Dollars ($175,000.00), less applicable tax deductions, as a guaranteed bonus for fiscal year 2014. The bonus payable under this Section 4(b) shall be payable in September, 2014. This will be a
one-time signing bonus payable September, 2014. 
 5. Long Term Incentive Program. 

(a) The Executive shall be granted an aggregate of 120,000 shares that are registered in a Form S-8 registration statement filed with the SEC
relating to the Perry Ellis International, Inc. 2005 Long-Term Incentive Compensation Plan, as amended and restated on June 12, 2008 and as further amended and restated on June 9, 2011 (“Shares”) on or as soon as
practicable after the Effective Date. The first tranche of Twenty-Thousand (20,000) Shares shall vest on September 9, 2014. Twenty-Five Thousand (25,000) Shares shall thereafter vest on September 9, 2015, 2016, 2017 and 2018,
provided that all of the Shares shall fully and immediately vest upon (i) a Change in Control (as defined in Section 10(g)), and (ii) a termination of the Executive’s employment pursuant to Section 10(a), (b), (d), or (e).
The Shares shall be forfeited to the extent that they are not vested as of the date the Executive’s employment is terminated if such termination is pursuant to Section 10(c) or (f). The Shares shall be subject to such other terms,
conditions, and/or restrictions as determined by the Company and as set forth in the related restricted stock agreement to be entered into between the Executive and the Company in the form attached hereto as Exhibit A. 

  
 2 

 (b) In addition to the grant of the Shares, commencing in fiscal year 2016, the Executive may, in
the discretion of the Company, be eligible to participate in the Company’s applicable long-term incentive compensation plan as may be established and modified from time to time by the Board in its sole discretion commensurate with his titles
and position, and may be eligible to receive awards under that plan in such form and amounts, and subject to such conditions, as the Compensation Committee shall determine each year. 

6. Employee Benefit Programs. 

(a) During the Term, and except as provided herein, the Executive shall be entitled to participate in all employee welfare and pension benefit
plans, programs and/or arrangements generally applicable to senior-level executives. 
 (b) During the Term, the Company shall provide
and/or pay for a life insurance policy on the Executive’s life with a death benefit of Four Hundred, Fifty Thousand Dollars ($450,000.00). 

(c) During the Term, the Company shall provide, and Executive shall pay for, long-term disability insurance with a benefit of up to Twenty
Thousand Dollars ($20,000.00) per month. The Company shall reimburse the Executive for the cost of the premium payable under the policy at the end of each fiscal year. 

7. Reimbursement of Business Expenses. During the Term, the Executive is authorized to incur reasonable business expenses in carrying
out his duties and responsibilities under this Agreement, and the Company shall promptly reimburse him for all such reasonable business expenses incurred in connection with carrying out the business of the Company, subject to documentation in
accordance with the Company’s policy. The Executive shall also be entitled to reimbursement for legal fees incurred in connection with his entry into this Agreement, but not to exceed $3,000. 

8. Perquisites. During the Term, the Executive shall be entitled to participate in the Company’s executive perquisite and fringe
benefit programs applicable generally to the Company’s senior-level executives in accordance with the terms and conditions of such arrangements as are in effect from time to time. Notwithstanding anything contained in this Agreement or
applicable Company policy to the contrary, the Executive shall be entitled to business class air travel. 
 9. Vacation. The
Executive shall be entitled to 20 paid vacation days per calendar year, commencing in the 2014 calendar year (and seven (7) vacation days in the 2013 calendar year), in accordance with the Company’s vacation policy in effect from time to
time, including but not limited to the policies with respect to carryover or forfeiture of unused vacation days. Executive shall not be eligible to accrue or use vacation leave until after three months of employment with the Company. 

  
 3 

 10. Termination of Employment. 

(a) Termination of Employment Due to Death. In the event of the Executive’s death during the Term, the Term and the employment
relationship shall end as of the date of the Executive’s death and his estate and/or beneficiaries, as the case may be, shall be entitled to the following: (i) the Executive’s Base Salary through the date of such termination, subject
to withholding and other appropriate deductions and (ii) reimbursement for expenses accrued during the period of employment in accordance with Section 7, (iii) vested benefits (including vacation) accrued through the date of such
termination in accordance with applicable law or the governing plan rules, and (iv) any rights with respect to the vested portion of the Shares granted under Section 5 hereof or any other equity awards pursuant to the governing documents
related thereto ((i) through (iv), collectively, the “Accrued Obligations”). In addition, the Executive shall be entitled to receive any annual bonus in respect of the fiscal year preceding the fiscal year in which the Executive’s
employment ends that has not yet been paid on the date on which Executive’s employment ends (the “Previous Year Bonus”). 

(b) Termination of Employment Due to Disability. If the Executive’s employment is terminated by the Company due to Disability
during the Term, the Term shall end as of the date of the termination of the Executive’s employment and the Executive shall be entitled to the Accrued Obligations and the Previous Year Bonus. 

The term “Disability” shall mean the Executive’s failure and inability to perform his essential duties and responsibilities under this
Agreement, with or without reasonable accommodation, because of a “serious health condition” (as that term is defined and interpreted under the federal Family and Medical Leave Act) for a period of greater than twelve (12) weeks in
any 12-month period. 
 (c) Termination of Employment by the Company for Cause. If the Company terminates the Executive’s
employment for Cause during the Term, the Term and the employment relationship shall end as of the date of the termination of the Executive’s employment for Cause and the Executive shall be entitled to the Accrued Obligations. 

The term “Cause” shall mean: (a) commission by the Executive of a felony; or (b) willful misconduct or gross negligence by the Executive
in connection with his performance of duties for the Company; or (c) a willful failure by the Executive to carry out the reasonable and lawful directions of the Company; or (d) fraud, embezzlement, theft or dishonesty by the Executive
against the Company or a willful material violation by the Executive of a policy or procedure of the Company; or (e) a material breach by the Executive of this Agreement after written notice by the Company and without cure by Executive within
30 days of such notice. 
 (d) Termination of Employment by the Company Without Cause. If the Executive’s employment is
terminated by the Company without Cause, other than due to death or Disability, the Term and the employment relationship shall end and the Executive shall be entitled to the Accrued Obligations and the Previous Year Bonus. In

  
 4 

 
addition, the Executive shall be entitled to a lump sum cash amount equal to 50% of the Base Salary payable as soon as practicable following the termination date (the “Severance
Payment”). In no event shall a termination of the Executive’s employment without Cause occur unless the Company gives written notice to the Executive. 

(e) Termination of Employment by the Executive for Good Reason. The Executive may terminate his employment for Good Reason. Upon a
termination by the Executive of his employment for Good Reason, the Executive shall be entitled to the same payments and benefits as provided in Section 10(d) above. In no event shall a termination of the Executive’s employment for Good
Reason occur unless the Executive gives written notice to the Company and an opportunity to cure within 30 days of such notice stating with specificity the events or actions that constitute Good Reason. “Good Reason” shall mean, without
the Executive’s prior written consent, the occurrence of any of the following events or actions: (1) a reduction of the Executive’s Base Salary or Bonus Opportunity (i.e. - not a reduction of any actual bonus amount (if any) paid from
year to year); (2) a material breach by the Company of this Agreement; or (3) a material diminution of the Executive’s duties, title, position, reporting lines, or status as an executive officer. 

(f) Voluntary Termination of Employment by the Executive Without Good Reason. If the Executive voluntarily terminates his employment
without Good Reason, other than a termination of employment due to death or Disability, the Term and the employment relationship shall end as of the date specified in the notice of the termination of the Executive’s employment without Good
Reason, such notice not less than 14 days and not greater than 28 days from the termination date, and the Executive shall be entitled to the same payments and benefits as provided in Section 10(c) above. 

(g) Termination of Employment in Connection with a Change in Control. If the Executive’s employment is terminated by the Company
without Cause or by the Executive for Good Reason during (i) the 6-month period immediately preceding the date of the Change in Control or (ii) the 2-year period immediately following the date of the Change in Control, the Severance
Payment shall be increased to an amount equal 200% of the sum of the Executive’s Base Salary and Bonus Opportunity at Target. A “Change in Control” shall mean: (1) the acquisition by any person, entity or “group” (as
defined in Section 13(d) of the Exchange Act) (other than by (i) any subsidiary or affiliate of the Company, (ii) any entity owned, directly or indirectly, 50% or more by the Company, (iii) any employee benefit plan of any such
entity, or (iv) George Feldenkreis, any spouse, parent, sibling or descendant of George Feldenkreis, or any spouse or descendant of any parent, sibling or descendent of George Feldenkreis and/or any entity for their benefit), through one
transaction or a series of related transactions of 50% or more of the combined voting power of the then outstanding voting securities of the Company; or (2) the liquidation or dissolution of the Company (other than a dissolution occurring upon
a merger or consolidation thereof); or (3) the sale, transfer or other disposition of all or substantially all of the assets of the Company through one transaction or a series of related transactions to one or more persons or entities that are
not, immediately prior to such sale, transfer or other disposition, affiliates of the Company. 

  
 5 

 (h) Clawback of Certain Compensation and Benefits. If, after the termination of the
Executive’s employment with the Company for any reason other than by the Company for Cause, it is determined in good faith by the Board that the Executive’s employment could have been terminated by the Company for Cause, or the Executive
breaches Sections 13 below, then in addition to any other remedy that may be available to the Company in law or equity and/or pursuant to any other provisions of this Agreement, the Executive shall be required to pay to the Company, immediately upon
written demand by the Board, any Severance Payment previously paid to the Executive. 
 (i) General Release Agreement. In order to
receive the cash payments and cash benefits available to the Executive under this Section 10 (other than the non-cash Accrued Obligations), the Executive or his estate, as the case may be, must execute a general release of claims in
substantially the form attached as Exhibit B. 
 (j) Reduction for Other Benefits. Notwithstanding anything contained in this
Agreement to the contrary, all compensation and benefits payable under this Section 10 shall be reduced by any other compensation payable under any severance or change-in-control plan, program, policy or arrangement of the Company in which the
Executive is a participant and under which he has or will actually receive compensation. 
 (k) Resignation as an Officer. On or
before the date Executive’s employment terminates, the Executive shall submit to the Company in writing his resignation, if applicable, in any capacity other than the employment relationship. 

11. Board Policies. The payments and benefits provided under this Agreement shall be subject to any compensation or governance policies
that the Board may adopt from time to time that are applicable by their terms to the Executive. 
 12. Confidentiality: Assignment of
Rights. 
 (a) During the Term and thereafter, the Executive shall not disclose to anyone or make use of any trade secret or proprietary
or confidential information of the Company which he acquires during Executive’s employment, except (i) as such disclosure or use may be required or appropriate in connection with his work as an employee of the Company or (ii) when
required to do so by a court of law, by any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body with apparent jurisdiction. For purposes of this Agreement, confidential
information includes all trade secrets and information disclosed to the Executive or known by the Executive as a consequence of or through the unique position of his employment with the Company (including information conceived, originated,
discovered or developed by the Executive and any information acquired by the Company from others) prior to or after the Effective Date, and not generally or publicly known, (other than as a result of unauthorized disclosure by the Executive), with
respect to the Company or the Company’s business. 
 (b) The Executive hereby sells, assigns and transfers to the Company all of his
right, title and interest in and to all inventions, discoveries, improvements and 

  
 6 

 
copyrightable subject matter (the “rights”) which during the Term are made or conceived by him, alone or with others, and which are within or arise out of any general field of the
Company’s business or arise out of any work he performs or information he receives regarding the business of the Company while employed by the Company. The Executive shall fully disclose to the Company as promptly as available all information
known or possessed by him concerning the rights referred to in the preceding sentence, and upon request by the Company and without any further compensation in any form to him by the Company, but at the expense of the Company, execute all
applications for patents and for copyright registration, assignments thereof and other instruments and do all things which the Company may deem necessary to vest and maintain in it the entire right, title and interest in and to all such rights. 

13. Noncompetition: Nonsolicitation. The Executive covenants and agrees that, during the Term and for six months after Executive’s
last date of employment with the Company, Executive shall not directly or indirectly, engage in a Competitive Activity or call on, solicit or do business with any customer or client of the Company or any subsidiary. “Competitive Activity”
shall mean, directly or indirectly (whether as a principal, agent, partner, employee, investor, owner, consultant, board member or otherwise), activity that is in direct competition with the Company or any of its Subsidiaries in any of the States
within the United States, or countries within the world, in which the Company or any of its Subsidiaries conducts business with respect to a business in which the Company or any of its Subsidiaries engaged during the Term; provided, however, that an
ownership interest of 1% or less in any publicly held company shall not constitute a Competitive Activity. The Executive covenants and agrees that, for two (2) years after Executive’s last date of employment with the Company, he will not,
directly or indirectly, for himself or for any other person, firm, corporation, partnership, association or other entity, employ or attempt to employ any employee of the Company or any Subsidiary, or any person that was employed with the Company
during the last six months of Executive’s employment. 
 14. Assignability, Binding Nature. This Agreement shall be binding upon
and inure to the benefit of the Parties and their respective successors, heirs (in the case of the Executive) and assigns. The Executive may not assign his rights under this Agreement. No rights or obligations of the Company under this Agreement may
be assigned or transferred by the Company except that such rights or obligations may be assigned or transferred pursuant to a merger or consolidation in which the Company is not the continuing entity, or the sale or liquidation of all or
substantially all of the assets of the Company; provided, however, that the assignee or transferee is the successor to all or substantially all of the assets of the Company and such assignee or transferee assumes the liabilities, obligations and
duties of the Company, as contained in this Agreement, either contractually or as a matter of law. 
 15. Section 409A. This
Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended from time to time (the “Code”) and its corresponding regulations, or an exemption, and payments may only be made under this Agreement
upon an event and in a manner permitted by Code Section 409A, to the extent applicable. Severance benefits under the Agreement are intended to be exempt from 

  
 7 

 
Code Section 409A under the “separation pay exception,” to the maximum extent applicable. Any payments that qualify for the “short-term deferral” exception or another
exception under Code Section 409A shall be paid under the applicable exception. Notwithstanding anything in this Agreement to the contrary, if required by Code Section 409A, if the Executive is considered a “specified employee”
for purposes of Code Section 409A and if payment of any amounts under this Agreement is required to be delayed for a period of six months after separation from service pursuant to Code Section 409A, payment of such amounts shall be delayed
as required by Code Section 409A, and the accumulated amounts shall be paid in a lump sum payment within ten days after the end of the six-month period. If the Executive dies during the postponement period prior to the payment of benefits, the
amounts withheld on account of Code Section 409A shall be paid to the personal representative of the Executive’s estate within 60 days after the date of the Executive’s death. 

16. No Mitigation; No Offset. In the event of any termination of the Executive’s employment under Section 10, the Executive
shall be under no obligation to seek other employment and there shall be no offset against amounts due the Executive under this Agreement on account of any compensation attributable to any subsequent employment that he may obtain except as
specifically provided in Section 10. Notwithstanding anything contained in this Agreement to the contrary, all compensation and benefits payable under Section 10 shall be reduced by any other compensation and benefits payable under any
severance or change-in-control plan, program, policy or arrangement of the Company in which the Executive is a participant and under which he has actually and previously received compensation and/or benefits. 

17. Indemnification. 

(a) The Company agrees that if the Executive is made a party, or is threatened to be made a party, to any action, suit or proceeding, whether
civil, criminal, administrative or investigative (a “Proceeding”), by reason of the fact that he is or was a director, officer or employee of the Company or is or was serving at the request of the Company as a director, officer, member,
employee or agent of another corporation, partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans, whether or not the basis of such Proceeding is the Executive’s alleged action in an
official capacity while serving as a director, officer, member, employee or agent, the Executive shall be indemnified and held harmless by the Company to the fullest extent legally permitted or authorized by the Company’s certificate of
incorporation or bylaws or resolutions of the Board and any applicable laws, or, if greater, and not precluded by applicable laws, by the laws of the State of Florida, against all cost, expense, liability and loss (including, without limitation,
attorney’s fees, judgments, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement) reasonably incurred or suffered by the Executive in connection therewith, and such indemnification shall continue as to the
Executive even if he has ceased to be a director, member, employee or agent of the Company or other entity and shall inure to the benefit of the Executive’s heirs, executors and administrators. Any indemnification by the Company shall only be
required where, to the extent practical without prejudice to the Executive’s rights, the Executive submits notice to the Company of the cost, expense, liability and loss and receives the Company’s approval, such approval not unreasonably
withheld. 

  
 8 

 (b) Neither the failure of the Company (including its board of directors, independent legal
counsel or stockholders) to have made a determination prior to the commencement of any proceeding concerning payment of amounts claimed by the Executive under Section 17(a) above that indemnification of the Executive is proper because he has
met the applicable standard of conduct, nor a determination by the Company (including its board of directors, independent legal counsel or stockholders) that the Executive has not met such applicable standard of conduct, shall create a presumption
that the Executive has not met the applicable standard of conduct. 
 (c) The Company agrees to continue and maintain a directors’ and
officers’ liability insurance policy covering the Executive to the extent the Company provides such coverage for its other executive officers. 

18. Representation. The Company represents and warrants that it is fully authorized and empowered to enter into this Agreement and that
the performance of its obligations under this Agreement will not violate any agreement between it and any other person, firm or organization. The Executive represents and warrants that no agreement exists between him and any other person, firm or
organization that would be violated by the performance of his obligations under this Agreement. 
 19. Entire Agreement. This
Agreement contains the entire understanding and agreement between the Parties concerning the subject matter hereof and supersedes all prior agreements, understandings, discussions, negotiations and undertakings, whether written or oral, between the
Parties with respect thereto. 
 20. Amendment or Waiver. No provision in this Agreement may be amended unless such amendment is
agreed to in writing and signed by the Executive and an authorized officer of the Company. No waiver by either Party of any breach by the other Party of any condition or provision contained in this Agreement to be performed by such other Party shall
be deemed a waiver of a similar or dissimilar condition or provision at the same or any prior or subsequent time. Any waiver must be in writing and signed by the Executive or an authorized officer of the Company, as the case maybe. 

21. Severability. In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for
any reason, in whole or in part, the remaining provisions of this Agreement shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law. If such invalidity or unenforceability is caused by length of
time or size of area, or both, the otherwise invalid provision shall be considered to be reduced to a period or area which would cure such invalidity. 

22. Survivorship. The respective rights and obligations of the Parties hereunder shall survive any termination of the Executive’s
employment hereunder, to the extent necessary to the intended preservation of such rights and obligations. 

  
 9 

 23. Governing Law/Jurisdiction. This Agreement shall be governed by and construed and
interpreted in accordance with the laws of the State of Florida without reference to principles of conflict of laws unless superseded by federal law. 

24. Resolution of Disputes. Any disputes arising under or in connection with this Agreement shall be resolved by binding arbitration,
to be held in Miami, Florida or any other location mutually agreed to by the Parties in accordance with the rules and procedures of the American Arbitration Association governing employment disputes. The Executive and the Company shall mutually
select the arbitrator. If the Executive and the Company cannot agree on the selection of an arbitrator, each Party shall select an arbitrator and the two arbitrators shall select a third arbitrator who shall resolve the dispute. Judgment upon the
award rendered by the arbitrator may be entered in any court having jurisdiction thereof. All arbitration costs shall be shared equally by the Parties, and all other costs shall be borne by the Party incurring such cost. Nothing in this section
shall, however, limit or prevent the Company from litigating in any court of competent jurisdiction any claim for emergency, temporary, or permanent injunctive relief related to any violation of a restrictive covenant described herein. 

25. Notices. All notices shall be in writing, shall be sent to the following addresses listed below or to such other address as either
Party shall request by notice to the other, using a reputable overnight express delivery service, and shall be deemed to be received when sent. 
  

			
	If to the Company:	  	Perry Ellis International, Inc.
		  	3000 N.W. 107th Avenue
		  	Miami, Florida 33172
		  	Attention: General Counsel
		
	If to the Executive:	  	The Executive’s last known address on file with the Company with a copy to:
		  	Gary Rothstein, Esq.
		  	Morgan Lewis & Bockius
		  	101 Park Avenue
		  	New York, NY 10178

 26. Headings. The headings of the sections contained in this Agreement are for convenience only and
shall not be deemed to control or affect the meaning or construction of any provision of this Agreement. 
 27. Counterparts. This
Agreement may be executed in two or more counterparts, and such counterparts shall constitute one and the same instrument. Signatures delivered by facsimile shall be deemed effective for all purposes to the extent permitted under applicable law.

  
 10 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

 

			
	STANLEY SILVERSTEIN
	
	  

	Stanley Silverstein
	Date:	 	
	
	PERRY ELLIS INTERNATIONAL, INC.
		
	By:	 	  

	Name:	 	Anita Britt
	Title:	 	Chief Financial Officer
	Date:	 	

  
 11

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