Document:

Third Amendment to the Credit Agreement

 Exhibit 10.1 
 THIRD AMENDMENT TO CREDIT AGREEMENT 
 THIS THIRD AMENDMENT TO
CREDIT AGREEMENT (the “Third Amendment”), dated as of March 22, 2011, amends that certain Amended and Restated Credit Agreement dated as of October 31, 2008, as amended by a First Amendment thereto dated as of
November 18, 2009 and by a Second Amendment thereto dated as of February 24, 2010 (collectively, the “Credit Agreement”), by and among KOPPERS INC., a Pennsylvania corporation (the “Borrower”), THE
GUARANTORS (as defined in the Credit Agreement), THE LENDERS (as defined in the Credit Agreement), and PNC BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative Agent”). 

WITNESSETH: 
 WHEREAS, Borrower has requested, and the Lenders have agreed, subject to the terms and conditions herein, to amend the Credit Agreement to, among other matters, (i) extend the Expiration Date,
(ii) modify the pricing grid on Schedule 1.1(A) to the Credit Agreement, and (iii) modify certain financial covenants and other covenants applicable to the Loan Parties and their Subsidiaries. 

NOW, THEREFORE, the parties hereto, in consideration of their mutual covenants and agreements herein contained and intending to be
legally bound hereby, covenant and agree as follows: 
 1. Recitals. The foregoing recital is true and correct and
incorporated herein by reference. 
 2. Amendments to Credit Agreement. 

(a) Section 1.1 [Defined Terms]. 
 (i) Existing Definitions. 
 (A) The definition of
“Expiration Date” in Section 1.1 of the Credit Agreement is hereby amended and restated as follows: 

“Expiration Date shall mean, with respect to the Revolving Credit Commitments, March 22, 2015.” 

(B) The definition of “Hedge Liabilities” in Section 1.1 of the Credit Agreement is hereby amended and
restated as follows: 
 “Hedge Liabilities shall have the meaning given to such term in the definition of the term
‘Lender-Provided Hedge’.” 

 (C) The definition of “Lender-Provided Interest Rate Hedge” in
Section 1.1 of the Credit Agreement is hereby amended and restated as follows: 
 “Lender-Provided Hedge shall
mean any of the following transactions which is provided by a Lender or an Affiliate of a Lender to any Loan Party or any Subsidiary of a Loan Party, whether or not such Subsidiary is a Guarantor: (a) an Interest Rate Hedge which (i) is
documented in a standard International Swap Dealer Association Agreement, (ii) provides for the method of calculating the reimbursable amount of the provider’s credit exposure in a reasonable and customary manner, and (iii) is entered
into for hedging (rather than speculative) purposes, and (b) foreign currency exchange transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions entered
into for hedging (rather than speculative) purposes, and (c) commodity swaps, commodity options, forward commodity contracts and any other similar transactions entered into for hedging (rather than speculative) purposes. The liabilities of the
Loan Parties and any such Subsidiaries to the provider of any Lender-Provided Hedge (the “Hedge Liabilities”) shall be “Obligations” hereunder, guaranteed obligations under the Guaranty Agreement and secured obligations
under the Pledge Agreement and Security Agreements and otherwise treated as Obligations for purposes of each of the other Loan Documents. The Liens securing the Hedge Liabilities shall be pari passu with the Liens securing all other Obligations
under this Agreement and the other Loan Documents.” 
 (D) The definition of “Lender-Provided Treasury
Arrangement” in Section 1.1 of the Credit Agreement is hereby amended and restated as follows: 

“Lender-Provided Treasury/Credit Arrangement shall mean any obligation or liability of the Borrower or any of its
Subsidiaries to the Administrative Agent or any of the Lenders or their Affiliates howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due, under or in
connection with (i) treasury management services, depository services, overdraft protection arrangement, and cash management services, including, without limitation all arrangements with the Administrative Agent, or any Lender or its Affiliates
to provide company paid credit cards that permit employees to make purchases on behalf of any Loan Party, including all fees and expenses of the Loan Parties payable to the Administrative Agent, any Lender or its Affiliates related to any of the
foregoing, (ii) line of credit facilities provided to Subsidiaries of the Borrower which are not Guarantors, and (iii) letters of credit, bank guaranties and bid guaranties issued for the account of Subsidiaries of the Borrower which are
not Guarantors (and for which the Borrower is not a co-applicant); and in any case under clause (i), (ii) or (iii), either the applicable documents that create or evidence any such arrangements, facilities, letters of credit or guaranties shall
designate the same as a Lender-Provided Treasury/Credit 

  
 2 

 
Arrangement, or the Borrower shall have provided the Administrative Agent prior written notice of such designation. The liabilities of the Loan Parties and any Subsidiary of the Loan Parties to
the provider of any Lender-Provided Treasury/Credit Arrangement (the “Treasury/Credit Liabilities”) shall be “Obligations” hereunder, guaranteed obligations under the Guaranty Agreement and secured obligations under the
Pledge Agreement and Security Agreements and otherwise treated as Obligations for purposes of each of the other Loan Documents. The Liens securing the Treasury/Credit Liabilities shall be pari passu with the Liens securing all other Obligations
under this Agreement and the other Loan Documents.” 
 (E) The definition of “Loan Documents” in
Section 1.1 of the Credit Agreement is hereby amended and restated as follows: 
 “Loan Documents shall mean
this Agreement, the Guaranty Agreement, the Continuing Agreement of Guaranty and Suretyship of the Borrower in favor of the Administrative Agent, for the benefit of each Hedge/Treasury/Credit Provider (as defined therein), the Intercompany
Subordination Agreement, the Intercreditor Agreement, the Notes, the Patent, Trademark and Copyright Security Agreement, the Pledge Agreement, the Security Agreements, the Security Trust Deed, the Quebec Security, agreements related to
Lender-Provided Hedges and Lender-Provided Treasury/Credit Arrangements, fee letters between the Borrower and the Administrative Agent and any other instruments, certificates or documents delivered or contemplated to be delivered hereunder or
thereunder or in connection herewith or therewith, as the same may be supplemented or amended from time to time in accordance herewith or therewith, and Loan Document shall mean any of the Loan Documents.” 

(F) The definition of “Obligations” in Section 1.1 of the Credit Agreement is hereby amended and restated
as follows: 
 “Obligations shall mean (i) any and all obligations, liabilities, and indebtedness from time to
time of the Borrower, any Guarantor or any other Subsidiary of the Borrower to the Administrative Agent, any of the Lenders or any Affiliate of any Agent or any Lender under or in connection with this Agreement or any other Loan Document, whether
for principal, interest, fees, indemnities, expenses, or otherwise, and all refinancings or refundings thereof, whether such obligations, liabilities, or indebtedness are direct or indirect, secured or unsecured, joint or several, absolute or
contingent, due or to become due, whether for payment or performance, now existing or hereafter arising (and including obligations, liabilities, and indebtedness arising or accruing after the commencement of any bankruptcy, insolvency,
reorganizations, or similar proceeding with respect to the Borrower, any Guarantor or any other Subsidiary of the Borrower or which would have arisen or accrued but for the 

  
 3 

 
commencement of such proceeding, even if the claim for such obligation, liability, or indebtedness is not enforceable or allowable in such proceeding, and including all Obligations, liabilities,
and indebtedness arising from any extensions of credit under or in connection with the Loan Documents from time to time, regardless whether any such extensions of credit are in excess of the amount committed under or contemplated by the Loan
Documents or are made in circumstances in which any condition to an extension of credit is not satisfied); (ii) all Reimbursement Obligations of each Loan Party and any other Subsidiary of the Borrower with respect to any one or more Letters of
Credit issued by any Issuing Bank; (iii) all indebtedness, loans, obligations, expenses and liabilities of each Loan Party or any other Subsidiary of the Borrower to the Agents or any of the Lenders, or any of their respective Affiliates,
arising out of any Lender-Provided Hedge or Lender-Provided Treasury/Credit Arrangement provided by the Administrative Agent, any of the Lenders or such Affiliates pursuant to this Agreement; (iv) any sums advanced by or owing to the
Administrative Agent or any of the Lenders for any reason relating to this Agreement, any other Loan Document, or any collateral relating thereto, including for indemnification, for maintenance, preservation, protection or enforcement of, or
realization upon, the Collateral or other collateral security or any one or more guaranties, and for enforcement, collection, or preservation of the rights of the Administrative Agent and the Lenders, and regardless whether before or after default
or the entry of any judgment; (v) any obligation or liability of any Loan Party or any other Subsidiary of the Borrower arising out of overdrafts on deposits or other accounts or out of electronic funds (whether by wire transfer or through
automated clearing houses or otherwise) or out of the return unpaid of, or other failure of any Agent or any Lender to receive final payment for, any check, item, instrument, payment order or other deposit or credit to a deposit or other account, or
out of any Agent’s or any Lender’s non-receipt of or inability to collect funds or otherwise not being made whole in connection with depository or other similar arrangements, and (vi) any amendments, extensions, renewals and increases
of or to any of the foregoing.” 
 (G) The definition of “Permitted Liens” in Section 1.1 of
the Credit Agreement is hereby amended and restated as follows: 
 “Permitted Liens shall mean: 

(i) Liens for taxes, assessments, or similar charges, incurred in the ordinary course of business and which are not yet due and payable;

 (ii) Pledges or deposits made in the ordinary course of business to secure payment of workmen’s compensation, or to
participate in any fund in connection with workmen’s compensation, unemployment insurance, old-age pensions or other social security programs; 

  
 4 

 (iii) Liens of mechanics, materialmen, warehousemen, carriers, or other like Liens,
securing obligations incurred in the ordinary course of business that are not yet due and payable and Liens of landlords securing obligations to pay lease payments that are not yet due and payable or in default; 

(iv) Good-faith pledges or deposits made in the ordinary course of business to secure performance of bids, tenders, contracts (other than
for the repayment of borrowed money) or leases, not in excess of the aggregate amount due thereunder, or to secure statutory obligations, or surety, appeal, indemnity, performance or other similar bonds required in the ordinary course of business;

 (v) Encumbrances consisting of zoning restrictions, easements or other restrictions on the use of real property, or minor
irregularities in title thereto and other immaterial liens that do not secure the payment of money, none of which materially impairs the use of such property or the value thereof, and none of which is violated in any material respect by existing or
proposed structures or land use; 
 (vi) Liens, security interests and mortgages in favor of the Administrative Agent for the
benefit of the Lenders or any Affiliates of any Lender securing the Obligations including liabilities under any Lender-Provided Hedge or Lender-Provided Treasury/Credit Arrangement; 

(vii) Liens on property leased by any Loan Party or Subsidiary of a Loan Party under capital and operating leases securing obligations of
such Loan Party or Subsidiary to the lessor under such leases; 
 (viii) Any Lien existing on the date of this Agreement and
described on Schedule 1.1(P), and any extension, replacement or renewal thereof, provided that the principal amount secured thereby is not hereafter increased, and no additional assets become subject to such Lien; 

(ix) Purchase Money Security Interests and liens on tangible property (excluding inventory) acquired pursuant to Permitted Acquisitions
to the extent permitted under Section 8.2.1(vii); 
 (x) The following, (A) if the validity or amount thereof is being
contested in good faith by appropriate and lawful proceedings diligently conducted so long as levy and execution thereon have been stayed and continue to be stayed or (B) if a final judgment is entered and such judgment is discharged within
thirty (30) days of entry, and in either case 

  
 5 

 
they do not affect the Collateral or, in the aggregate, materially impair the ability of any Loan Party to perform its Obligations hereunder or under the other Loan Documents: 

(1) Claims or Liens for taxes, assessments or charges due and payable and subject to interest or penalty, provided
that the applicable Loan Party maintains such reserves or other appropriate provisions as shall be required by GAAP and pays all such taxes, assessments or charges forthwith upon the commencement of proceedings to foreclose any such Lien;

 (2) Claims, Liens or encumbrances upon, and defects of title to, real or personal property other than the
Collateral, including any attachment of personal or real property or other legal process prior to adjudication of a dispute on the merits; 
 (3) Claims or Liens of mechanics, materialmen, warehousemen, carriers, or other statutory nonconsensual Liens; or 
 (4) Liens resulting from final judgments or orders described in Section 9.1.6; 
 (xi) Liens on Inventory of Subsidiaries organized under Australian law arising from title retention arrangements with suppliers of such Subsidiaries, provided that such Liens do not encumber any other
property; 
 (xii) Liens securing obligations in an aggregate amount not to exceed $5,000,000 at any one time outstanding; and

 (xiii) Liens on Collateral in favor of the 2003 Trustee granted to secure the 2003 Senior Notes pursuant to the 2003 Senior
Note Debt Documents, provided that all such Liens are subordinated to the Liens in favor of the Administrative Agent for the benefit of the Lenders pursuant to the Intercreditor Agreement.” 

(ii) New Definitions. The following new defined terms are hereby added to Section 1.1 of the Credit Agreement
in alphabetical order as follows: 
 “Third Amendment shall mean the Third Amendment to Credit Agreement, dated as
of March 22, 2010.” 
 “Third Amendment Effective Date shall mean the date upon which the Third Amendment
became effective pursuant to its terms.” 

  
 6 

 (b) Section 2.3 [Commitment Fees] of the Credit Agreement is hereby amended and
restated as follows: 
 “2.3. Commitment Fees. 

Accruing from the Third Amendment Effective Date until the Expiration Date, the Borrower agrees to pay to the Administrative Agent for the
account of each Lender, as consideration for such Lender’s Revolving Credit Commitment hereunder, a nonrefundable commitment fee equal to the rate of 0.375% per annum (computed on the basis of a year of 365 or 366 days, as the case may be,
and actual days elapsed) on the average daily difference between the amount of (i) such Lender’s Revolving Credit Commitment as the same may be constituted from time to time (for purposes of this computation, PNC Bank’s Swing Loans
shall be deemed to be borrowed amounts under its Revolving Credit Commitment) and the (ii) the sum of such Lender’s Revolving Credit Loans outstanding plus its Ratable Share of Letters of Credit Outstanding. All such Commitment Fees shall
be payable in arrears on the first day of each November, February, May and August after the Third Amendment Effective Date and on the Expiration Date or upon acceleration of the Notes.” 

(c) Section 8.2.1 [Indebtedness] of the Credit Agreement is hereby amended and restated as follows: 

“8.2.1. Indebtedness. 
 Each of the Loan Parties shall not, and shall not permit any of its Subsidiaries to, at any time create, incur, assume or suffer to exist any Indebtedness, except: 

 

	 	(i)	Indebtedness under the Loan Documents; 

  

	 	(ii)	Existing Indebtedness as set forth on Schedule 8.2.1 (including any extensions, renewals or replacements thereof), provided (i) there is no increase
in the amount thereof or other significant change in the terms thereof unless otherwise specified on Schedule 8.2.1, and (ii) the terms of such Indebtedness do not restrict the ability of the Subsidiaries of the Borrower to pay dividends
or make other distributions on account of the ownership interests of the Borrower’s Subsidiaries; 

  

	 	(iii)	Indebtedness of a Loan Party to another Loan Party which is subordinated in accordance with the provisions of Section 8.1.12 [Subordination of Intercompany Loans];

  

	 	(iv)	Indebtedness incurred by a Subsidiary of the Borrower or Koppers China or any of its subsidiaries or Koppers Mauritius or any of its subsidiaries which is permitted
under Section 8.2.4(vi); 

  

	 	(v)	Indebtedness under any Lender-Provided Treasury/Credit Arrangement or other cash management arrangement approved by the Administrative Agent; provided however, that the
aggregate amount of all such Indebtedness under this Subsection 8.2.1(v) shall not exceed $30,000,000 at any one time outstanding; 

  
 7 

	 	(vi)	Any Lender-Provided Hedge or other Interest Rate Hedge approved by the Administrative Agent; 

 

	 	(vii)	Indebtedness secured by Purchase Money Security Interests, Indebtedness evidenced by capitalized leases and other Indebtedness for Borrowed Money, including without
limitation, Indebtedness assumed in connection with Permitted Acquisitions; provided however, (i) the aggregate amount of all such Indebtedness under this Subsection 8.2.1(vii) (excluding for the purpose of this computation any Indebtedness
described in Schedule 8.2.1) shall not exceed $25,000,000, and (ii) the terms of such Indebtedness shall not restrict the ability of the Subsidiaries of the Borrower to pay dividends or make other distributions on account of the ownership
interests of the Borrower’s Subsidiaries; 

  

	 	(viii)	Non-speculative Currency Agreements in the ordinary course of business; 

  

	 	(ix)	The 2009 Senior Note Debt of the Borrower in an aggregate principal amount not to exceed $300,000,000, and Guaranties of the domestic Loan Parties executed in
connection with the 2009 Senior Note Debt subject, however, to the requirements of Section 8.2.3 [Guaranties]; 

  

	 	(x)	Indebtedness of Koppers Netherlands Partnership and/or Koppers Netherlands Corporation to the Borrower, WWV or other Subsidiaries of the Borrower which is incurred in
consideration for the transfer of the ownership interests in Koppers Europe and/or Koppers Australia pursuant to any Foreign Holding Company Reorganization effected by the Borrower and its Subsidiaries; 

 

	 	(xi)	Indebtedness of a Subsidiary which is not organized under the laws of the United States of any state thereof and which is not a Guarantor to another Subsidiary which is
not organized under the laws of the United States of any state thereof and which is not a Guarantor; and 

  

	 	(xii)	Any other Indebtedness of any Loan Party or of any Subsidiary of any Loan Party; provided however, that the aggregate amount of all such Indebtedness under this
Subsection 8.2.1(xii) shall not exceed $5,000,000 at any one time outstanding.” 

  
 8 

 (d) Section 8.2.3 [Guaranties] of the Credit Agreement is hereby amended and restated
as follows: 
 “8.2.3. Guaranties. 

Each of the Loan Parties shall not, and shall not permit any of its Subsidiaries to, at any time, directly or indirectly,
become or be liable in respect of any Guaranty, or assume, guarantee, become surety for, endorse or otherwise agree, become or remain directly or contingently liable upon or with respect to any obligation or liability of any other Person, except
for: 
  

	 	(i)	Guaranties of Indebtedness of the Loan Parties permitted hereunder, and Guaranties by the Borrower of Indebtedness of Subsidiaries of the Borrower under Lender-Provided
Hedges and Lender-Provided Treasury/Credit Arrangements permitted hereunder; 

  

	 	(ii)	Guaranties listed on Schedule 8.2.3 hereto; 

  

	 	(iii)	Guaranties (A) of Indebtedness incurred by Koppers China and Koppers Mauritius, and its respective subsidiaries and permitted joint ventures under
Section 8.2.9 [Subsidiaries, Partnerships and Joint Ventures], provided however, that the aggregate principal or stated amount of all such Guaranties under this clause (A) shall not exceed $75,000,000 at any one time; and (B) by the
Borrower of Indebtedness incurred by and other obligations of Koppers International B.V. to Koppers Denmark A/S, provided however, that the aggregate principal or stated amount of all such Guaranties under this clause (B) shall not exceed Euro
17,500,000 at any one time; 

  

	 	(iv)	Guaranties of other obligations, provided that the aggregate principal or stated amount of all such Guaranties under this clause (iv) shall not exceed $25,000,000
at any one time; and 

  

	 	(v)	indemnifications by the Borrower or any of its Subsidiaries of the liabilities of its directors or officers pursuant to the provisions contained in such party’s
respective organizational documents or bylaws. 

 Notwithstanding the foregoing, no Subsidiary shall execute any
Guaranty of any Indebtedness of the 2009 Senior Notes unless, prior to the date of such execution, such Subsidiary has executed and delivered a Guaranty Agreement in favor of the Administrative Agent.” 

(e) Section 8.2.4 [Loans and Investments] of the Credit Agreement is hereby amended and restated as follows: 

“8.2.4. Loans and Investments. 

Each of the Loan Parties shall not, and shall not permit any of its Subsidiaries to, at any time make or suffer to remain
outstanding any loan or 

  
 9 

 
advance to, or purchase or acquire any stock, bonds, notes or securities of, or any partnership interest (whether general or limited) or limited liability company interest in, or any other
investment or interest in, or make any capital contribution to, any other Person, or agree, become or remain liable to do any of the foregoing, except: 
  

	 	(i)	trade credit extended on usual and customary terms, including extended repayment terms to the extent consistent with the current practices of the Loan Parties, in the
ordinary course of business; 

  

	 	(ii)	advances to employees to meet expenses incurred by such employees in the ordinary course of business; 

 

	 	(iii)	Permitted Investments; 

  

	 	(iv)	loans, advances and investments in other Loan Parties organized under the laws of the United States or a state thereof, or, upon the Borrower’s request and the
prior written consent of the Administrative Agent, any other country; 

  

	 	(v)	loans and investments set forth on Schedule 8.2.4; 

  

	 	(vi)	loans, advances and investments not existing as of the Third Amendment Effective Date in (1) wholly-owned Subsidiaries of the Borrower organized under the laws of
Australia or a state or territory thereof or of the United Kingdom, Denmark, Luxembourg or another member country of the European Union in an aggregate amount not exceeding $50,000,000 at any one time outstanding, and (2) Subsidiaries of the
Borrower organized under the laws of a jurisdiction other than those listed in clause (1) of this Subsection 8.2.4(vi) in an aggregate amount not exceeding $50,000,000 at any one time outstanding; 

 

	 	(vii)	 loans, advances and investments in joint ventures not existing as of the Third Amendment Effective Date and additional loans, advances and investments
in existing joint ventures above the amount of such investments in existing joint ventures listed on Schedule 8.2.4, which joint ventures (a) limit the liability of the Loan Party or Subsidiary to such party’s investment therein
(except to the extent of liabilities under Guaranties otherwise permitted under this Agreement), and (b) are in the same or substantially similar lines of business as the Loan Parties’ business, so long as in the case of any such
investments under this clause (vii), the Borrower has Undrawn Availability of at least $35,000,000 immediately after the making of such investment. In the case of any such investments in any one joint venture in excess of $25,000,000 in the
aggregate, the Administrative Agent shall have received prior written notice of such investments and a certificate which evidences that the 

  
 10 

	 	 
Borrower has Undrawn Availability of at least $35,000,000 immediately after the making of such investment; provided that the aggregate amount of the sum of (y) such investments in joint
ventures from and after the Third Amendment Effective Date pursuant to this clause (vii), and (z) advances under clause (ix) of this Section 8.2.4 shall not exceed $75,000,000 at any one time; 

 

	 	(viii)	advances to subcontractors and suppliers of the Loan Parties or their Subsidiaries made in the ordinary course of business, provided that the aggregate amount of such
advances shall not exceed $10,000,000 at any one time outstanding; 

  

	 	(ix)	advances not in excess of $10,000,000 at any one time outstanding to customers of the Loan Parties or their Subsidiaries to finance the construction of facilities for
such customers which will use products supplied by the Loan Parties or their Subsidiaries, provided that the aggregate amount of the sum of (y) all such advances pursuant to this clause (ix), and (z) investments under clause (vii) of
this Section 8.2.4 shall not exceed $75,000,000 at any one time; 

  

	 	(x)	non-cash investments in or capital contributions or loans or advances to Koppers Netherlands Partnership and/or Koppers Netherlands Corporation which consist of the
transfer of the ownership interests in Koppers Europe and/or Koppers Australia pursuant to any Foreign Holding Company Reorganization effected by the Borrower and its Subsidiaries; and 

 

	 	(xi)	loans, advances to or investments in a Subsidiary which is not organized under the laws of the United States or any state thereof by a Subsidiary which is not organized
under the laws of the United States or any state thereof and which is not a Guarantor.” 

 (f)
Section 8.2.5 [Restricted Payments] of the Credit Agreement is hereby amended and restated as follows: 

“8.2.5. Restricted Payments. 

The Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, make any Restricted
Payment, provided that the Borrower may make the following Restricted Payments: 
  

	 	(i)	dividends and distributions permitted under Section 4.07 of the 2009 Senior Note Indenture to KI Holdings which are either (x) “Permitted Payments to
Parent” as such term is defined in the 2009 Senior Note Indenture as in effect on the date the First Amendment is effective in accordance with its terms, or (y) are used by KI Holdings to pay dividends to its shareholders, in each case if
prior to and after giving effect thereto, no Event of Default or Potential Default will have occurred and be continuing or shall exist; 

  
 11 

	 	(ii)	Restricted Payments in the amount of net proceeds from the issuance of the 2009 Senior Notes to KI Holdings which are used to redeem or purchase all of the 2004 Senior
Notes; 

  

	 	(iii)	dividends and distributions to KI Holdings which are used to repurchase not more than $75,000,000 in value (at the time of purchase) of shares of the outstanding
capital stock of KI Holdings so long as prior to and after giving effect to any such dividend or distribution: (A) Undrawn Availability is at least $35,000,000, and (B) the Senior Secured Leverage Ratio on a pro forma basis after giving
effect to such dividend or distribution is less than 2.0 to 1.0; and 

  

	 	(iv)	Restricted Payments consisting of retiree redemptions and repurchases of the Borrower’s capital stock in an aggregate amount not to exceed $1,500,000 in any fiscal
year, if after giving effect thereto, (A) no Event of Default or Potential Default will have occurred and be continuing and (B) the Undrawn Availability is at least $35,000,000; provided that, to the extent that in any fiscal year (or
portion thereof), such Restricted Payments made by the Borrower consisting of retiree redemptions and repurchases of the Borrower’s capital stock (“Actual Redemption Payments”) are less than $1,500,000, then, during the
immediately following fiscal year, the Borrower may make Restricted Payments consisting of retiree redemptions and repurchases of the Borrower’s capital stock in an amount not to exceed $1,500,000 plus ($1,500,000 minus Actual Redemption
Payments). 

 In addition to the foregoing limitations on Restricted Payments, the Loan Parties agree that the
Borrower shall not redeem or purchase all or any portion of the 2009 Notes without the prior written consent of the Required Lenders.” 
 (g) Section 8.2.6 [Liquidations, Mergers, Consolidations, Acquisitions] of the Credit Agreement is hereby amended and restated as follows: 

“8.2.6. Liquidations, Mergers, Consolidations, Acquisitions. 

Each of the Loan Parties shall not, and shall not permit any of its Subsidiaries to, dissolve, liquidate or wind-up its
affairs, or become a party to any merger or consolidation, or acquire by purchase, lease or otherwise all or substantially all of the assets or capital stock of any other Person, provided that 

 

	 	(1)	any Loan Party other than the Borrower may consolidate or merge into the Borrower or into another Loan Party which is wholly-owned by one or more of the other Loan
Parties, 

  
 12 

	 	(2)	any Subsidiary of a Loan Party may be liquidated or dissolved if it is inactive or if all of the assets of such Subsidiary have been sold or disposed of in compliance
with the terms of this Agreement, 

  

	 	(3)	any Subsidiary of a Loan Party may be merged into any Person or may be liquidated and dissolved, in each case in connection with the sale or disposition of such
Subsidiary, if the sale or disposition of all of the assets of such Subsidiary would have been otherwise permitted hereunder, and any Subsidiary of the Borrower which is not a Loan Party may be merged into any other Subsidiary of the Borrower which
is not a Loan Party, 

  

	 	(4)	any Loan Party or any Subsidiary of a Loan Party may acquire, whether by purchase or by merger, (A) all of the ownership interests of another Person or
(B) substantially all of assets of another Person or of a business or division of another Person (each, a “Permitted Acquisition”), provided that each of the following requirements is met: 

(i) if the Loan Parties are acquiring the ownership interests in such Person, such Person shall execute a Guarantor Joinder and join this
Agreement as a Guarantor pursuant to Section 11.18 [Joinder of Guarantors] on or before the date of such Permitted Acquisition; 
 (ii) the Loan Parties, such Person and its owners, as applicable, if the same are located in the United States, shall grant Liens in the assets of or acquired from and stock or other ownership interests
in such Person and otherwise comply with Section 11.18 [Joinder of Guarantors] on or before the date of such Permitted Acquisition; 
 (iii) the board of directors or other equivalent governing body of such Person shall have approved such Permitted Acquisition and, if the Loan Parties or such Subsidiary shall use any portion of the Loans
to fund such Permitted Acquisition, the Loan Parties or such Subsidiary, as the case may be, also shall have delivered to the Lenders written evidence of the approval of the board of directors (or equivalent body) of such Person for such Permitted
Acquisition; 
 (iv) the business acquired, or the business conducted by the Person whose ownership interests are being
acquired, as applicable, shall be reasonably related to as one or more line or lines of business conducted by the Loan Parties and shall comply with Section 8.2.10 [Continuation of or Change in Business]; 

(v) no Potential Default or Event of Default shall exist immediately prior to and after giving effect to such Permitted Acquisition;

  
 13 

 (vi) in the case of any Permitted Acquisition, (1) the Borrower shall be in compliance
with the covenants contained in Sections 8.2 (other than Section 8.2.17) hereof after giving effect to such Permitted Acquisition (including in such computation Indebtedness or other liabilities assumed or incurred in connection with such
Permitted Acquisition and income earned or expenses incurred by the Person, business or assets to be acquired prior to the date of such Permitted Acquisition), (2) with respect to the covenant set forth in Section 8.2.17 hereof, after
giving effect to such Permitted Acquisition on a pro forma basis, the Borrower would have been in compliance with the required ratio which would otherwise be in effect as of the date of such Permitted Acquisition minus 0.25, in each case, and
(3) that after giving effect to such Permitted Acquisition, the Undrawn Availability is at least $35,000,000. In the case of any Permitted Acquisition in connection with which the aggregate Consideration exceeds $25,000,000, the Borrower shall
demonstrate compliance with clauses (1), (2) and (3) of this subsection (vi) by delivering at least five (5) Business Days prior to such Permitted Acquisition a certificate in the form of Exhibit 8.2.6 (each, an
“Acquisition Compliance Certificate”) evidencing compliance with such covenants on a pro forma basis and certifying as to such Undrawn Availability; 
 (vii) the Loan Parties or such Subsidiary, as applicable, shall deliver to the Administrative Agent (a) at least five (5) Business Days before such Permitted Acquisition drafts of any agreements
proposed to be entered into by such Loan Parties and/or such Subsidiary, as applicable, in connection with such Permitted Acquisition, and (b) prior to the date of such Permitted Acquisition, execution copies of such agreements entered into by
such Loan Parties and/or such Subsidiary, as applicable, in connection with such Permitted Acquisition, and shall deliver to the Administrative Agent such other information about such Person or its assets as any Loan Party may reasonably require;
and 
 (viii) if such acquisition is to be consummated by a Subsidiary which is not a Loan Party hereunder, and such Person so
acquired is not organized under, and governed by, the laws of the United States of America, or any state, territory or possession of the United States of America then the following additional requirements shall be met: (A) such Person must be
organized under, and governed by, the laws of Australia or a state or territory thereof, or of the United Kingdom, Denmark, Luxembourg or another member country of the European Union, and (B) such acquisition otherwise is in compliance with
clause (vi) of Section 8.2.4 [Loans and Investments].” 
 (h) Section 8.2.15 [Maximum Senior Secured
Leverage Ratio] of the Credit Agreement is hereby deleted in its entirety and replaced with the words “Intentionally Omitted”. 

  
 14 

 (i) Section 8.2.17 [Maximum Leverage Ratio] of the Credit Agreement is hereby amended
and restated as follows: 
 “8.2.17. Maximum Leverage Ratio. 

The Loan Parties shall not at any time permit the Leverage Ratio, calculated as of the end of each fiscal quarter for the
four fiscal quarters then ended, to exceed the ratio set forth below for the periods specified below: 
  

			
	 Period
	  	 Ratio

		
	 3/31/2011 through 12/31/2012
	  	4.50 to 1.00
		
	 3/31/2013 and thereafter
	  	4.00 to 1.00.”

(j) Subsection (i) of Section 8.3.8 [Budgets, Forecasts, Other Reports and Information] of the Credit Agreement is hereby
amended and restated as follows: 
 “(i) KI Holdings’ consolidated annual budget, including a consolidated balance
sheet, income statement and cash flow statement, and any consolidated forecasts or projections of KI Holdings and its subsidiaries, to be supplied not later than sixty (60) days after the commencement of the fiscal year to which any of the
foregoing may be applicable,” 
 (k) Section 9.2.5.1 [Application of Proceeds] of the Credit Agreement is hereby
amended and restated as follows: 
 “9.2.5.1. Application of Proceeds. 

From and after the date on which the Administrative Agent has taken any action pursuant to this Section 9.2 and until
all Obligations of the Loan Parties have been paid in full, any and all proceeds received by the Administrative Agent from any sale or other disposition of the Collateral, or any part thereof, or the exercise of any other remedy by the
Administrative Agent, shall be applied as follows: 
 (i) first, to reimburse the Administrative Agent and the Lenders for
out-of-pocket costs, expenses and disbursements, including reasonable attorneys’ and paralegals’ fees and legal expenses, incurred by the Administrative Agent or the Lenders in connection with realizing on the Collateral or collection of
any Obligations of any of the Loan Parties under any of the Loan Documents, including advances made by the Lenders or any one of them or the Administrative Agent for the reasonable maintenance, preservation, protection or enforcement of, or
realization upon, the Collateral, including advances for taxes, insurance, repairs and the like and reasonable expenses incurred to sell or otherwise realize on, or prepare for sale or other realization on, any of the Collateral; 

  
 15 

 (ii) second, to the repayment of all Obligations then due and unpaid of the Loan Parties to
the Lenders incurred under this Agreement, any of the other Loan Documents, any Lender-Provided Hedge, or any Lender-Provided Treasury/Credit Arrangement, whether of principal, interest, fees, expenses or otherwise, in such manner as the
Administrative Agent may determine in its discretion; and 
 (iii) the balance, if any, as required by Law.” 

(l) Section 9.2.5.2 [Collateral Sharing] of the Credit Agreement is hereby amended and restated as follows: 

“9.2.5.2. Collateral Sharing. 

All Liens granted under the Security Agreements, the Patent Trademark and Copyright Security Agreement, the Pledge
Agreement and any other Loan Document (the “Collateral Documents”) shall secure ratably and on a pari passu basis (i) the Obligations in favor of the Administrative Agent and the Lenders hereunder and (ii) the Obligations
incurred by any of the Loan Parties in favor of any Lender, or any Affiliate of any Lender, which provides a Lender-Provided Hedge or a Lender-Provided Treasury/Credit Arrangement (the “Hedge/Treasury/Credit Provider”). The
Administrative Agent under the Collateral Documents shall be deemed to serve and is appointed as the collateral agent (the “Collateral Agent”) for the Hedge/Treasury/Credit Provider and the Lenders hereunder, provided that the
Collateral Agent shall comply with the instructions and directions of the Administrative Agent (or the Lenders under this Agreement to the extent that this Agreement or any other Loan Documents empowers the Lenders to direct the Administrative
Agent), as to all matters relating to the Collateral, including the maintenance and disposition thereof. No Hedge/Treasury/Credit Provider (except in its capacity as a Lender hereunder) shall be entitled or have the power to direct or instruct the
Collateral Agent on any such matters or to control or direct in any manner the maintenance or disposition of the Collateral.” 
 (m) Section 10.13 [Equalization of Lenders] of the Credit Agreement is hereby amended and restated as follows: 
 “10.13. Equalization of Lenders. 
 The Lenders, for
themselves and any Affiliates which are owed Obligations, and the holders of any participations in any Notes, agree among themselves that, with respect to all amounts received by any Lender, any such Affiliate or any such holder for application on
any Obligation hereunder (including, without limitation, any Lender-Provided Hedge and any Lender-Provided Treasury/Credit Arrangement) or under any Note or under any such participation, whether received by voluntary payment, by realization upon

  
 16 

 
security, by the exercise of the right of set-off or banker’s lien, by counterclaim or by any other non-pro rata source, equitable adjustment will be made in the manner stated in the
following sentence so that, in effect, all such excess amounts will be shared ratably among the Lenders and such holders in proportion to their interests in payments under the Notes and other Obligations, except as otherwise provided in
Section 4.4.3 [Administrative Agent’s and Lender’s Rights], 5.4.2 [Replacement of a Lender] or 5.6 [Additional Compensation in Certain Circumstances]. The Lenders, any such Affiliate or any such holder receiving any such amount shall
purchase for cash from each of the other Lenders an interest in such Lender’s Loans in such amount as shall result in a ratable participation by the Lenders, such Affiliates and each such holder in the aggregate unpaid amount under the Notes
and the other Obligations, provided that if all or any portion of such excess amount is thereafter recovered from the Lender, such Affiliate or the holder making such purchase, such purchase shall be rescinded and the purchase price restored
to the extent of such recovery, together with interest or other amounts, if any, required by law (including court order) to be paid by the Lender, such Affiliate or the holder making such purchase.” 

(n) Schedule 1.1(A) [Pricing Grid], Schedule 8.2.1 [Permitted Indebtedness], Schedule 8.2.3 [Guaranties] and
Schedule 8.2.4 [Permitted Loans and Investments] to the Credit Agreement are hereby amended and restated in their entirety in the form attached hereto as Schedule 1.1(A), Schedule 8.2.1, Schedule 8.2.3 and Schedule
8.2.4, respectively. 
 (o) Exhibit 8.2.6 [Acquisition Compliance Certificate] of the Credit Agreement is hereby
amended and restated in its entirety in the form attached hereto as Exhibit 8.2.6. 
 (p) Exhibit 8.3.3
[Quarterly Compliance Certificate] of the Credit Agreement is hereby amended and restated in its entirety in the form attached hereto as Exhibit 8.3.3. 
 3. Amendments to Certain Other Loan Documents. In connection with this Third Amendment, the parties hereto acknowledge and agree that the Pledge Agreement, the Security Agreement, the Guaranty
Agreement, and the Patent, Trademark and Copyright Security Agreement are each amended such that each reference therein (i) to “Lender-Provided Interest Rate Hedge” shall be amended and deemed to refer to and read
“Lender-Provided Hedge”, (ii) to “Lender-Provided Treasury Arrangement” shall be amended and deemed to refer to and read “Lender-Provided Treasury/Credit Arrangement”, and (iii) “Australian correspondent
bank” shall be deleted such that no obligation whatsoever owing to any Australian correspondent bank shall be deemed part of the Obligations secured by any Collateral or entitled to the benefit of any Guaranty Agreement. 

  
 17 

 4. Conditions Precedent. The Borrower, the Guarantors and the Lenders acknowledge
that this Third Amendment shall not be effective until the date each of the following conditions precedent has been satisfied (such date is referred to herein as the “Effective Date”): 

(a) The Borrower, the Guarantors, the Lenders, and the Administrative Agent shall have executed, and delivered to the Administrative
Agent, this Third Amendment; 
 (b) The Borrower shall have delivered to the Administrative Agent a closing certificate dated
the Effective Date certifying to the accuracy of representations and warranties, compliance with covenants and conditions and absence of any Potential Default or Event of Default under the Credit Agreement; 

(c) The Borrower shall have delivered to the Administrative Agent for the benefit of each Lender a certificate dated the Effective Date
and signed by the Secretary or an Assistant Secretary of each of the Loan Parties, certifying as appropriate as to: 
 (i) all action taken by each Loan Party in connection with this Third Amendment and the other Loan Documents; 
 (ii) the names of the officer or officers authorized to sign this Third Amendment and the other Loan Documents and the true signatures of such officer or officers and specifying the Authorized Officers
permitted to act on behalf of each Loan Party for purposes of this Third Amendment and the true signatures of such Authorized Officers, on which the Administrative Agent and each Lender may conclusively rely; and 

(iii) copies of its organizational documents, including its certificate of incorporation, bylaws, certificate of limited
partnership, partnership agreement, certificate of formation, and limited liability company agreement as in effect on the date of this Third Amendment, certified by the corporate secretary of other appropriate officer, or alternatively, a
certification by such corporate secretary or other appropriate officer that such documents remain unchanged and in full force and effect since the time of the certification provided to the Administrative Agent and the Lenders on December 1,
2009; 
 (d) Since December 31, 2010, no Material Adverse Change shall have occurred with respect to the Borrower or any of
the Guarantors; 
 (e) No default or event of default shall have occurred or will occur under the terms of any other agreement
involving borrowed money or the extension of credit or any other Indebtedness under which any Loan Party or Subsidiary of any Loan Party may be obligated as a borrower or guarantor as a result of and after giving effect to the transactions
contemplated by this Third Amendment; 
 (f) The Borrower shall have delivered projected consolidated financial statements
(including balance sheets, statements of operations and cash flows) through December 31, 2011 that are reasonably acceptable to the Lenders and the Administrative Agent; 
 (g) The Borrower shall have executed, and delivered to the Administrative Agent, a Guaranty in the form of Exhibit 1 attached to this Third Amendment for Obligations of any Subsidiaries of the
Borrower under any Lender-Provided Hedges and Lender-Provided Treasury/Credit Arrangements; 

  
 18 

 (h) The Borrower and the Guarantors shall have obtained all approvals and consents necessary
to consummate the transactions contemplated by this Third Amendment; 
 (i) The Borrower shall have delivered to the
Administrative Agent an opinion of Borrower’s counsel dated the Effective Date as to the due authorization, execution and delivery, and enforceability of this Third Amendment and such other matters as requested by the Administrative Agent,
which opinion shall be in form and substance reasonably satisfactory to the Administrative Agent; 
 (j) The Borrower shall have
paid to the Administrative Agent all fees required to be paid in connection with this Third Amendment, and the Borrower shall have reimbursed the Administrative Agent all fees and expenses, including without limitation, attorneys’ fees, for
which the Administrative Agent is entitled to be reimbursed; and 
 (k) All legal details and proceedings in connection with the
transactions contemplated by this Third Amendment and all other Loan Documents to be delivered to the Lenders shall be in form and substance reasonably satisfactory to the Administrative Agent. 

5. Incorporation into Credit Agreement. This Third Amendment shall be incorporated into the Credit Agreement by this reference.

 6. Full Force and Effect. Except as expressly modified by this Third Amendment, all of the terms, conditions,
representations, warranties and covenants of the Credit Agreement and the other Loan Documents are true and correct and shall continue in full force and effect without modification, including without limitation, all liens and security interests
securing the Borrower’s indebtedness to the Lenders and all Guaranty Agreements executed and delivered by the Guarantors. 

7. Reimbursement of Expenses. The Borrower unconditionally agrees to pay and reimburse the Administrative Agent and save the
Administrative Agent harmless against liability for the payment of reasonable out-of-pocket costs, expenses and disbursements, including without limitation, fees and expenses of counsel incurred by the Administrative Agent in connection with the
development, preparation, execution, administration, interpretation or performance of this Third Amendment and all other documents or instruments to be delivered in connection herewith. 

8. Counterparts. This Third Amendment may be executed by different parties hereto in any number of separate counterparts, each of
which, when so executed and delivered shall be an original and all such counterparts shall together constitute one and the same instrument. 
 9. Entire Agreement. This Third Amendment sets forth the entire agreement and understanding of the parties with respect to the transactions contemplated hereby and supersedes all prior
understandings and agreements, whether written or oral, between the parties hereto relating to the subject matter hereof. No representation, promise, inducement or statement of intention has been made by any party which is not embodied in this Third
Amendment, and no party shall be bound by or liable for any alleged representation, promise, inducement or statement of intention not set forth herein. 

  
 19 

 10. Governing Law. This Third Amendment shall be deemed to be a contract under the
laws of the Commonwealth of Pennsylvania and for all purposes shall be governed by and construed and enforced in accordance with the internal laws of the Commonwealth of Pennsylvania without regard to its conflict of laws principles. 

[SIGNATURE PAGES FOLLOW] 

  
 20 

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized, have executed this Third Amendment as of the day and
year first above written. 
  

			
	 KOPPERS INC.

		
	 By:
	 	 /s/ Leroy M. Ball

	 Name:
	 	 Leroy M. Ball

	 Title:
	 	 Vice President and Chief Financial Officer

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 KOPPERS HOLDINGS INC.

		
	 By:
	 	 /s/ Leroy M. Ball

	 Name:
	 	 Leroy M. Ball

	 Title:
	 	 Vice President and Chief Financial Officer

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 WORLD-WIDE VENTURES CORPORATION

		
	 By:
	 	 /s/ Louann E. Tronsberg - Deihle

	 Name:
	 	 Louann E. Tronsberg - Deihle

	 Title:
	 	 Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 KOPPERS DELAWARE, INC.

		
	 By:
	 	 /s/ Louann E. Tronsberg - Deihle

	 Name:
	 	 Louann E. Tronsberg - Deihle

	 Title:
	 	 Treasurer

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 KOPPERS ASIA LLC

		
	 By:
	 	 /s/ Louann E. Tronsberg - Deihle

	 Name:
	 	 Louann E. Tronsberg - Deihle

	 Title:
	 	 Treasurer

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 KOPPERS CONCRETE PRODUCTS, INC.

		
	 By:
	 	 /s/ Louann E. Tronsberg - Deihle

	 Name:
	 	 Louann E. Tronsberg - Deihle

	 Title:
	 	 Treasurer

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 CONCRETE PARTNERS, INC.

		
	 By:
	 	 /s/ Louann E. Tronsberg - Deihle

	 Name:
	 	 Louann E. Tronsberg - Deihle

	 Title:
	 	 Treasurer

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 KOPPERS VENTURES LLC

		
	 By:
	 	 /s/ Louann E. Tronsberg - Deihle

	 Name:
	 	 Louann E. Tronsberg - Deihle

	 Title:
	 	 Treasurer

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 PNC BANK, NATIONAL ASSOCIATION,

	 as Administrative Agent and as Lender, for itself and as successor to National City Bank

		
	 By:
	 	 /s/ Tracy J. DeCock

	 Name:
	 	 Tracy J. DeCock

	 Title:
	 	 Senior Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 CITIZENS BANK OF PENNSYLVANIA,

individually and as Syndication Agent

		
	 By:
	 	 /s/ Philip R. Medsger

	 Name:
	 	 Philip R. Medsger

	 Title:
	 	 Senior Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 BANK OF AMERICA, N.A.,

	 individually and as Documentation Agent

		
	 By:
	 	 /s/ Irene Bertozzi Bartenstein

	 Name:
	 	 Irene Bertozzi Bartenstein

	 Title:
	 	 Director

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 FIRST COMMONWEALTH BANK,

individually and as Syndication Agent

		
	 By:
	 	 /s/ Brian J. Sohocki

	 Name:
	 	 Brian J. Sohocki

	 Title:
	 	 Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 WELLS FARGO BANK, N.A.,

individually and as Syndication Agent

		
	 By:
	 	 /s/ J. Barrett Donovan

	 Name:
	 	 J. Barrett Donovan

	 Title:
	 	 Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 FIFTH THIRD BANK

		
	 By:
	 	 /s/ Jim Janovsky

	 Name:
	 	 Jim Janovsky

	 Title:
	 	 Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 FIRSTMERIT BANK, N.A.

		
	 By:
	 	 /s/ Robert G. Morlan

	 Name:
	 	 Robert G. Morlan

	 Title:
	 	 Senior Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 FIRST NATIONAL BANK OF PENNSYLVANIA

		
	 By:
	 	 /s/ John L. Hayes

	 Name:
	 	 John L. Hayes

	 Title:
	 	 Senior Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 TRISTATE CAPITAL BANK

		
	By:	 	/s/ Paul J. Oris
	Name:	 	Paul J. Oris
	Title:	 	 Senior Vice President

 [SIGNATURE PAGE - THIRD AMENDMENT TO CREDIT AGREEMENT] 

 

			
	 THE HUNTINGTON NATIONAL BANK

		
	 By:
	 	/s/ Chad A. Lowe
	 Name:
	 	Chad A. Lowe
	 Title:
	 	Vice President

 SCHEDULE 1.1(A) 

PRICING GRID 
  

															
	 Level
	  	 Senior Secured Leverage Ratio
	  	 Base Rate
Spread
	 	 	 Euro Rate
Spread
	 	 	 Letter of

Credit Fee
	 
	I	  	Greater than 1.0 to 1.0	  	 	1.75	% 	 	 	2.75	% 	 	 	2.75	% 
	II	  	Greater than 0.5 to 1.0 but less than or equal to 1.0 to 1.0	  	 	1.50	% 	 	 	2.50	% 	 	 	2.50	% 
	III	  	Less than or equal to 0.5 to 1.0	  	 	1.25	% 	 	 	2.25	% 	 	 	2.25	% 

 For purposes of
determining the Applicable Margin and Letter of Credit Fee: 
 (a) The Applicable Margin and Letter of Credit Fee shall be set
at Level III as of the Third Amendment Effective Date. 
 (b) Beginning with the fiscal quarter ending March 31,
2011, the Applicable Margin and Letter of Credit Fee shall be recomputed as of the end of each fiscal quarter based on the Senior Secured Leverage Ratio as of such quarter end. Any increase or decrease in the Applicable Margin and Letter of
Credit Fee computed as of a fiscal quarter end shall be effective on the date on which the Compliance Certificate evidencing such computation is due to be delivered under Section 8.3.3. 

 EXHIBIT 8.2.6 
 ACQUISITION COMPLIANCE CERTIFICATE 
 [attached] 

 EXHIBIT 8.3.3 
 QUARTERLY COMPLIANCE CERTIFICATE 
 [attached]GapShare Puerto Rico Plan Document

 Exhibit 4.1 
 GAPSHARE PUERTO RICO PLAN 
 (Conformed Through the First Amendment)

 SECTION 1 
 Introduction 
  

	1.1	Background; Purpose of Plan; Applicable Requirements 

 This GapShare Puerto Rico Plan (“Plan”) is effective December 15, 2010. The Plan and its related Trust are intended to qualify as a profit-sharing plan and trust under PRIRC
Section 1165(a). The Plan includes a cash or deferred arrangement that is intended to qualify under PRIRC Section 1165(e) and the Plan also includes a stock bonus plan as described in the PRIRC. 

The Plan is maintained by the Company so that Eligible Employees of the Company and of other Employers under the Plan may accumulate
funds for their future security. The Plan is maintained for the exclusive benefit of Eligible Employees and their Beneficiaries. 
 Defined terms used in this Section are defined in Section 2. 
  

	1.2	Trustee; Trust 

 Amounts
contributed under the Plan are held and invested, until distributed, by the Trustee. The Trustee acts in accordance with the terms of the Trust, which implements and forms a part of the Plan. The provisions of and benefits under the Plan are subject
to the terms and provisions of the Trust. 
  

	1.3	Plan Administration 

 As
described in Section 15, the Company shall be the administrator as that term is defined in Section 3(16)(A) of ERISA (“Plan Administrator”) of the Plan and shall be responsible for the administration of the Plan; provided,
however, the Company may delegate all or any part of its powers, rights, and duties under the Plan to such person or persons as it may deem advisable. Any notice or document relating to the Plan which is to be filed with the Company may be
delivered, or mailed by registered or certified mail, postage pre-paid, to the Company, at its principal office. 
  

	1.4	Plan Supplements 

 The
provisions of the Plan may be modified by supplements to the Plan. The terms and provisions of each supplement are a part of the Plan and supersede the other provisions of the Plan to the extent necessary to eliminate inconsistencies between such
other Plan provisions and such supplement. 
 SECTION 2 

Definitions 
  

	2.1	Account 

 Except as may be
stated elsewhere in the Plan, “Account” and “Accounts” means all accounts and subaccounts maintained for a Participant (or a Beneficiary after a Participant’s death or an Alternate Payee under a qualified domestic relations
order). 

	2.2	Accounting Date 

“Accounting Date” means each day the value of an Investment Fund is adjusted for contributions, withdrawals, distributions,
earnings, gains, losses, or expenses. It is anticipated that each Investment Fund will be valued as of each day on which the New York Stock Exchange is open for trading and the Trustee is open for business. 

 

	2.3	Active Employee 

“Active Employee” means an Employee who is actively at work for an Employer, including an Employee on an approved Leave of
Absence; provided, however, that an Employee who is (a) a Disabled Employee, (b) engaged in active military service, or (c) otherwise incapacitated, as determined by the Company in its sole discretion, shall not constitute an Active
Employee for purposes of Subsection 3.1 except as otherwise specifically provided in that Subsection. 
  

	2.4	After-Tax Contribution 

“After-Tax Contribution” means a contribution a Participant elects to make on an after-tax basis pursuant to Subsection 4.2. or
any after-tax contributions made to another plan that is transferred directly to the Plan. 
  

	2.5	After-Tax Contribution Account 

 “After-Tax Contribution Account” means an Account maintained by the Company pursuant to Subparagraph 7.1(b). 
  

	2.6	Alternate Payee 

 The term
“Alternate Payee” means any spouse, former spouse, child or other dependent of a Participant who is recognized by a domestic relations order as having a right to receive all, or a portion of, the benefits payable under the Plan with
respect to such Participant, or such other meaning as prescribed under ERISA Section 206(d). 
  

	2.7	Beneficiary 

“Beneficiary” means the person or persons to whom a deceased Participant’s benefits are payable under Subsection 11.8.

  

	2.8	Catch-Up Contribution 

“Catch-Up Contribution” means the compensation deferrals an eligible Participant elects to make pursuant to Subsection 4.3.

  

	2.9	Common Stock 

“Common Stock” means common stock of the Company. 

 

	2.10	Company 

“Company” means The Gap, Inc. or any successor organization or entity that assumes the Plan. 

	2.11	Compensation 

 The
“Compensation” of a Participant for any period means: 
  

	 	(a)	Base salary, wages, overtime and commissions paid by an Employer, and also including: 

 

	 	(i)	amounts described in USIRC Section 104(a)(3), 105(a), or 105(h), but only to the extent that they are includible in the gross income of the Participant;

  

	 	(ii)	amounts paid or reimbursed by the Employer for moving expenses incurred by the Participant, but only to the extent that at the time of the payment it is reasonable to
believe that such amounts are not deductible by the Participant under USIRC Section 217; provided; notwithstanding the foregoing, Compensation shall not include moving expenses for purposes other than allocations pursuant to provision(s)
providing for permitted disparity; 

  

	 	(iii)	the value of a non-qualified stock option granted to the Participant by the Employer, but only to the extent that the value of the option is includible in the gross
income of the Participant for the taxable year in which granted; 

  

	 	(iv)	the amount includible in gross income of the Participant upon making the election described in USIRC Section 83(b) with respect to property transferred to the
Participant by the Employer; 

  

	 	(v)	amounts paid in lieu of unused accrued bona fide sick, vacation, or other leave; 

 

	 	(vi)	any amount that would have been included in Compensation, but for the Participant’s election to defer payment of such amount under USIRC Section 125,
402(e)(3), 402(h)(1)(B), 403(b), or 457(b) and certain contributions described in USIRC Section 414(h)(2) that are picked up by the employing unit and treated as employer contributions; and 

 

	 	(vii)	any amount that is not included in the Participant’s taxable gross income as a Qualified Transportation Fringe pursuant to USIRC Section 132(f);

  

	 	(b)	Excluding: 

  

	 	(i)	contributions made by the Participant’s Employer to a plan of deferred compensation to the extent that, before application of the limitations of USIRC
Section 415 to such plan, the contributions are not includible in the gross income of the Participant for the taxable year in which contributed; 

  

	 	(ii)	contributions made by the Employer to a simplified employee pension described in USIRC Section 408(k); 

 

	 	(iii)	any distributions from a plan of deferred compensation (except amounts received pursuant to an unfunded non-qualified plan in the year such amounts are includible in
the gross income of the Participant); 

  

	 	(iv)	amounts received from the exercise of a non-qualified stock option or when restricted stock held by the Participant becomes freely transferable or is not longer subject
to substantial risk of forfeiture; 

  

	 	(v)	amounts received from the sale, exchange or other disposition of stock acquired under a qualified or incentive stock option; 

 

	 	(vi)	bonuses; 

	 	(vii)	any other amounts which receive special tax benefits, such as premiums for group term life insurance (but only to the extent that the premiums are not includible in the
gross income of the Participant); 

  

	 	(viii)	amounts received under any short-term or long-term disability plan of the Employer; 

 

	 	(ix)	distributions from an unfunded non-qualified plan of deferred compensation in the year such amounts are includible in the gross income of the Participant;

  

	 	(x)	amounts paid to an individual who does not currently perform services for the Employer by reason of qualified military service (within the meaning of USIRC
Section 414(u)(1)); and 

  

	 	(xi)	all amounts paid under the Company’s voluntary PTO cashout program. 

 Notwithstanding the foregoing, Compensation shall be included in a Plan Year only if actually paid or made available during such Plan Year. 

 

	2.12	Computation Period 

 For
purposes of determining an Employee’s eligibility under Section 3, a “Computation Period” means any of the following: (i) the 12-consecutive-month period beginning on an Employee’s Employment Commencement Date or any
Reemployment Commencement Date; and (ii) each Plan Year beginning after such date; provided that both (i) and (ii) above include service subsequent to reemployment after a Termination Date if such service falls within the 12-month
period (or subsequent Plan Year) described. 
  

	2.13	Continuous Service 

 For
purposes of determining an Employee’s Vesting Service, a Participant shall be credited with “Continuous Service” for the aggregate of the periods of time between his Employment Commencement Date or any Reemployment Commencement Date
and the Termination Date that next follows such Employment Commencement Date or Reemployment Commencement Date; provided, however, that an Employee who has a Reemployment Commencement Date within the 12-consecutive-month period following a
Termination Date shall be credited with Continuous Service for the period between his Termination Date and Reemployment Commencement Date. 
  

	2.14	Contribution Period 

“Contribution Period” for Regular Matching Contributions, Discretionary Matching Contributions, and Qualified Nonelective
Contributions is the Plan Year. 
  

	2.15	Controlled Group Member 

“Controlled Group Member” means any entity that is not an Employer but is a member of a controlled group of corporations (within
the meaning of USIRC Section 414(b), (c), or (m)) that contains an Employer. 
  

	2.16	Disabled Employee 

“Disabled Employee” means a Participant who can no longer continue in the service of his Employer because of a mental or
physical condition that is likely to result in death or is expected to continue for a period of at least six months. A Participant shall be considered a Disabled Employee only if the Company or its delegate determines he or she is disabled based on
a written certificate of a physician acceptable to it. 

	2.17	Discretionary Matching Contribution 

 “Discretionary Matching Contribution” means a contribution made by an Employer on behalf of each Participant who makes a Tax-Deferred Contribution pursuant to Subsection 5.3. 

 

	2.18	Effective Date 

“Effective Date” means December 15, 2010. 
  

	2.19	Eligible Distributee 

“Eligible Distributee” means an Employee, former Employee, an Employee’s or former Employee’s surviving spouse, or an
Employee’s or former Employee’s designated beneficiary who is not the surviving spouse. In addition, an Alternate Payee under a qualified domestic relations order, as defined in ERISA Section 206(d), may be an Eligible Distributee
with regard to the interest of the spouse, former spouse, or non-spouse beneficiary. 
  

	2.20	Eligible Employee 

“Eligible Employee” means an Employee who is eligible to participate in the Plan pursuant to Subsection 3.1. 

 

	2.21	Eligible Retirement Plan 

“Eligible Retirement Plan” means an individual retirement account described in PRIRC Section 1169(a), an individual
retirement annuity described in PRIRC Section 1169(b), or a qualified trust described in PRIRC Section 1165(a) which agrees to separately account for amounts transferred into such plan from this Plan. 

 

	2.22	Eligible Rollover Distribution 

 “Eligible Rollover Distribution” means a distribution of the Participant’s account balance in the Plan that is payable to an Eligible Distributee following the Participant’s separation
from service with an Employer. The following are not Eligible Rollover Distributions: (a) a distribution that is one of a series of substantially equal payments made annually or more frequently either over the life (or life expectancy) of the
Participant or the joint lives (or life expectancies) of the Participant and the Participant’s Beneficiary or over a specified period of 10 years or more, (b) any distribution which is made on account of hardship of the Participant, or
(c) any distribution of excess contributions or excess deferrals under Section 8. A distribution shall not fail to be an Eligible Rollover Distribution merely because a portion of the distribution consists of an After-Tax Contribution.

  

	2.23	Employee 

 An
“Employee” means any person who is a permanent resident of Puerto Rico and is classified by an Employer, in accordance with its payroll or other records, as a Puerto Rico employee, other than any such person who is (i) not a resident
of the Commonwealth of Puerto Rico within the meaning of Section 1022(i)(1) of ERISA, (ii) covered by a collective bargaining agreement that does not specifically provide for coverage under the Plan, (iii) a nonresident alien who does
not receive Puerto Rico source income, (iv) employed in a foreign country, unless such person is temporarily transferred to employment with an Employer in a foreign country and is a permanent resident of Puerto Rico at the time of such
transfer, or (v) paid through the accounts payable system for services rendered, rather than through an Employer’s regular payroll system. An individual who is classified as an independent contractor (or other non-employee classification)
shall not be considered an Employee and shall not be eligible for participation in the Plan, regardless of any subsequent reclassification of such individual as an Employee by the Employer, any government agency, court, or other third party. Any
such reclassification shall not have a retroactive effect for purposes of the Plan. An Employee shall be eligible to participate in the Plan pursuant to Subsection 3.1. 

	2.24	Employer 

“Employer” means the Company and each other entity that has adopted or hereafter adopts the Plan with the Company’s consent
in the manner provided in Section 16. 
  

	2.25	Employment Commencement Date 

 “Employment Commencement Date” means the date an Employee first completes an Hour of Service. 
  

	2.26	ERISA 

 “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended. 
  

	2.27	Fair Market Value 

“Fair Market Value” means, with respect to Stock held in the Plan, the closing price per share on the New York Stock Exchange as
of any date. 
  

	2.28	Hacienda 

“Hacienda” means the Puerto Rico Treasury Department. 

 

	2.29	Highly Compensated Employee 

 A “Highly Compensated Employee” means a nonexcludable employee within the meaning of PRIRC Section 1165(a)(3)(C) whose Compensation for the Plan Year is greater than the Compensation of
two-thirds of all nonexcludable Employees for the same Plan Year. 
  

	2.30	Hour of Service 

“Hour of Service” means any hour for which an Employee is compensated by an Employer, directly or indirectly, or is entitled to
compensation from an Employer for the performance of duties and for reasons other than the performance of duties, and each previously uncredited hour for which back pay has been awarded or agreed to by an Employer, irrespective of mitigation of
damages. Hours of Service shall be credited to the period for which duties are performed (or for which payment is made if no duties were performed), except that Hours of Service for which back pay is awarded or agreed to by an Employer shall be
credited to the period to which the back pay award or agreement pertains. The rules for crediting Hours of Service set forth in Section 2530.200b-2 of Department of Labor regulations are incorporated by reference. In accordance with procedures
established by the Company, Hours of Service may be determined using the “equivalencies” set forth in Section 2530.200b-3 of Department of Labor regulations. References in this Subsection to an Employer shall include any Controlled
Group Member. 
  

	2.31	Inactive Participant 

“Inactive Participant” means a Participant who is no longer employed by an Employer or who is employed by a nonparticipating
Employer (or a nonparticipating branch or division of an Employer), but has an Account balance in the Plan. To the extent applicable, an Inactive Participant also will mean the Beneficiary of a deceased Participant or deceased Inactive Participant
who has an Account balance in the Plan. 
  

	2.32	Investment Committee 

“Investment Committee” means the US Savings Plan Investment Committee or such other Committee appointed by the Company or its
delegate to manage the assets of the Plan. The Investment Committee shall be the “named fiduciary” (as such term is defined in Section 402(a)(2) of ERISA) with respect to the management of Plan assets. 

	2.33	Investment Fund 

“Investment Fund” means a fund or other investment vehicle designated pursuant to Subsection 6.1. 

 

	2.34	Leased Employee 

“Leased Employee” means any individual who is not an Employee of an Employer, but who has provided services to an Employer under
the primary direction or control of the Employer on a substantially full-time basis for a period of at least one year, pursuant to an agreement between the Employer and a leasing organization. 

 

	2.35	Leave of Absence 

 Except
as otherwise defined in Subsection 3.4, “Leave of Absence” as used in the Plan means the period during which an individual is not actively at work for an Employer or Controlled Group Member that is not treated as a termination of
employment by the Employer or Controlled Group Member or is required by law to be treated as a leave of absence. Leaves of Absence shall be governed by rules uniformly applied to all similarly situated Employees of an Employer or Controlled Group
Member. A Disabled Employee shall not be considered to be on a Leave of Absence for purposes of the Plan. 
  

	2.36	Matching Contribution 

“Matching Contribution” means Employer contributions made to the Plan on account of a Participant’s Tax-Deferred
Contributions and After-Tax Contributions, and includes Discretionary Matching Contributions and Regular Matching Contributions. For the avoidance of doubt, Matching Contributions also include Employer contributions made to the Plan on account of a
Participant’s Catch-up Contributions. Notwithstanding the foregoing, Matching Contributions shall not include contributions made pursuant to USIRC Section 414(u) by reason of an Eligible Employee’s qualified military service.

  

	2.37	Matching Contribution Account 

 “Matching Contribution Account” means an Account maintained under the Plan pursuant to Subparagraph 7.1(c). 
  

	2.38	Normal Retirement Date 

“Normal Retirement Date” means the date an employee attains age 60. 

 

	2.39	Participant 

“Participant” means an Employee who meets the requirements of Subsection 3.1. 

 

	2.40	Plan 

 “Plan”
means the GapShare Puerto Rico Plan, as amended from time to time. 
  

	2.41	Plan Year 

 “Plan
Year” means each 12-month period beginning January 1 and ending the following December 31, except that the initial Plan Year shall begin on the Effective Date and end on December 31, 2010. 

 

	2.42	PRIRC 

 “PRIRC”
means the Puerto Rico Internal Revenue Code of 1994, as amended. 

	2.43	Qualified Nonelective Contribution 

 A “Qualified Nonelective Contribution” means the Qualified Nonelective Contribution described in Section 5 that is 100% vested when made and may be taken into account to satisfy the
limitations on Tax-Deferred Contributions, made by or on behalf of Highly Compensated Employees. 
  

	2.44	Qualified Nonelective Contribution Account 

 A “Qualified Nonelective Contribution Account” means an Account maintained under the Plan pursuant to Subparagraph 7.1(d). 

 

	2.45	Reemployment Commencement Date 

 “Reemployment Commencement Date” means the date following a Termination Date on which an Employee first completes an Hour of Service. 

 

	2.46	Regular Matching Contribution 

 “Regular Matching Contribution” means any Matching Contribution designated as such and made to the Plan as provided in Subsection 5.2. 

 

	2.47	Rollover Contribution 

“Rollover Contribution” means the contribution a Participant makes pursuant to Subsection 4.6. 

 

	2.48	Rollover Contribution Account 

 “Rollover Contribution Account” means the Account maintained under the Plan pursuant to Subparagraph 7.1(e). 
  

	2.49	Special Accounting Date 

“Special Accounting Date” means any date designated as such by the Company and any Special Accounting Date occurring under
Subsection 14.3. 
  

	2.50	Stock 

 “Stock”
means shares of Common Stock; provided, however, that such term shall include only such shares as constitute both “employer securities” as defined in USIRC Section 409(l) and “qualifying employer securities” as defined in
ERISA Section 407(d)(5). 
  

	2.51	Subsidiary 

 A
“Subsidiary” is any entity 80% or more of the voting stock (or other interests) of which is owned, directly or indirectly, by a parent entity. 
  

	2.52	Tax-Deferred Contribution 

“Tax-Deferred Contribution” means the compensation deferrals under PRIRC Section 1165(e) a Participant elects to make
pursuant to Subsection 4.1. 
  

	2.53	Tax-Deferred Contribution Account 

 “Tax-Deferred Contribution Account” means the Account maintained under the Plan pursuant to Subparagraph 7.1(a). 

	2.54	Termination Date 

“Termination Date” means the date on which a Participant terminates employment with the Employers and the Controlled Group
Members as described in Subsection 9.1. Notwithstanding any provision of the Plan to the contrary, the date on which a Participant’s status changes from Employee to Leased Employee will not constitute a Termination Date for purposes of
Section 11. 
  

	2.55	Transfer Contribution 

“Transfer Contribution” means an amount transferred to the Plan on an Employee’s behalf directly from another qualified
plan pursuant to a trust-to-trust transfer. 
  

	2.56	Transfer Contribution Account 

 “Transfer Contribution Account” means the Account maintained under the Plan pursuant to Subparagraph 7.1(f). 
  

	2.57	Trust 

 “Trust”
means the trust agreement between the Company and the Trustee and the trust created thereby. 
  

	2.58	Trust Fund 

 “Trust
Fund” means all money, stocks, bonds, securities, and other property held or acquired by the Trustee in accordance with the Trust. 
  

	2.59	Trustee 

“Trustee” means the person appointed to act as Trustee under the Trust. 

 

	2.60	USIRC 

 “USIRC”
means the U.S. Internal Revenue Code of 1986. 
  

	2.61	Vesting Service 

 An
Employee shall be credited with “Vesting Service” equal to his Continuous Service, provided that service prior to the original effective date of the Plan will not be counted except as set forth in a Supplement to the Plan. Notwithstanding
any other provision of the Plan to the contrary, Vesting Service completed by an Employee who is a nonvested Participant after his Reemployment Commencement Date shall not be included in determining such Employee’s vested interest in his
Account attributable to employment prior to his immediately preceding Termination Date if the period of time between such Termination Date and his Reemployment Commencement Date is equal to or greater than five years. 

 

	2.62	Other Definitions 

 Other
defined terms used in the Plan shall have the meanings given such terms elsewhere in the Plan. 

 SECTION 3 
 Eligibility and Participation 
  

	3.1	Eligibility to Participate 

  

	 	(a)	Eligible Employee. Each Supplement A Participant (as defined in Supplement A) will be a Participant in the Plan on and after the Effective Date, subject to the terms
and conditions of the Plan. Each other Employee shall become eligible to participate in the Plan as soon as administratively feasible on or after the date he or she first satisfies Subparagraphs (i), (ii), and (iii) below:

  

	 	(i)	he or she is an Active Employee of an Employer; 

  

	 	(ii)	he or she has attained age 21; and 

  

	 	(iii)	he or she has completed 1,000 Hours of Service in an applicable Computation Period. 

 

	 	(b)	Non-Eligible Employees. The following classes of Employees outlined under Subparagraphs (i) – (v) below shall not be considered eligible to participate
under the Plan: 

  

	 	(i)	he or she is a member of a group covered by a collective bargaining agreement with an Employer that does not specifically provide for coverage under the Plan;

  

	 	(ii)	he or she is a nonresident alien individual receiving no Puerto Rico-source income from the Employer; 

 

	 	(iii)	any employee that is not on or is otherwise transferred from a Puerto Rico pay group; 

 

	 	(iv)	he or she is paid through the accounts payable system for services rendered, rather than through an Employer’s regular payroll system; or 

 

	 	(v)	he or she is an independent contractor (even if retroactively reclassified as a common-law employee). 

 

	3.2	Notice of Participation 

Each Employee will be notified when he or she becomes eligible to participate in the Plan. 

 

	3.3	Period of Participation 

Subject to the provisions of Subsection 9.2, an Employee who becomes a Participant will continue as a Participant until the
Participant’s termination of employment with the Employer or the date on which all assets in the Participant’s Account under the Plan to which the Participant is entitled hereunder have been distributed. For all purposes of the Plan:

  

	 	(a)	a period of Leave of Absence will not interrupt continuity of participation; 

 

	 	(b)	a determination that a Participant is a Disabled Employee will not interrupt continuity of participation; and 

 

	 	(c)	the termination of employment of an Employee with one Employer will not interrupt the continuity of his or her participation if, concurrently with or immediately after
such termination, he or she is employed by one or more of the other Employers and is not an Inactive Participant. 

	3.4	Leave of Absence 

 A Leave
of Absence may be granted by an Employer because of sickness, accident, vacation, or for personal reasons under rules established by the Employer. In any case where a Participant is on a Leave of Absence or is a Disabled Employee and his or her
employment with the Company and its Subsidiaries is terminated for any other reason, then his or her employment with the Employers for purposes of the Plan will be considered terminated on the same date and for the same reason. 

 

	3.5	Military Service 

Notwithstanding any provision of the Plan to the contrary, contributions, benefits, and service credit with respect to qualified military
service will be provided in accordance with USIRC Section 414(u) and the Heroes Earnings Assistance and Relief Tax Act of 2008 (the “HEART Act”). In addition, to the extent that an Employer’s military leave policy provides for
contributions, benefits, and service credit for periods of military service in excess of that required under USIRC Section 414(u) for certain Participants, the Plan shall be administered in accordance with such policy. 

 

	3.6	Leased Employees and Independent Contractors 

 A Leased Employee or an independent contractor (or other nonemployee) shall not be eligible to participate in the Plan. No benefits shall be provided, or service credited, under this Plan on a retroactive
basis to any person who has performed services for an Employer other than as an Employee, even if such person subsequently becomes an Employee of an Employer (or is deemed, by a government agency, court, or other third-party, to have been an
Employee of an Employer). The subsequent classification of an individual as an Employee of an Employer shall not have a retroactive effect for purposes of the Plan. 
  

	3.7	Reemployment 

 If a person
who terminated employment with an Employer and all Controlled Group Members is reemployed as an Employee and if he or she had been an Eligible Employee prior to his or her termination of employment, he or she shall again become an Eligible Employee
on the date he or she is reemployed. 
  

	3.8	Transfers to Puerto Rico 

If a participant in the GapShare 401(k) Plan, as amended from time to time, transfers employment within the Company or to or from a
Controlled Group Member and as a result immediately becomes an Eligible Employee, then, notwithstanding anything contained in this Plan to the contrary, such Eligible Employee shall immediately be a Participant in the Plan and shall have his or her
election, if any, for Tax-Deferred Contributions, After-Tax Contributions and investment directions under the GapShare 401(k) Plan as in effect immediately prior to the transfer deemed to be such Eligible Employee’s elections under this Plan
unless or until such Eligible Employee elects otherwise in accordance with the terms of this Plan. Any such Eligible Employee’s election for “Roth 401(k) Contributions” under the terms of the GapShare 401(k) Plan shall not be deemed
an election under this Plan. 
 SECTION 4 
 Participant Contributions 
  

	4.1	Tax-Deferred Contributions 

  

	 	(a)	 Tax-Deferred Contributions. Each Participant may make Tax-Deferred Contributions by electing to defer an amount from his or her Compensation before the
imposition of income taxes, irrespective of whether such Tax-Deferred Contributions are made before or after the imposition of other taxes. Subject to the conditions and limitations of the Plan

	 	 
and any limitations imposed by the Company, each Participant may elect (in even multiples of one percent), pursuant to rules established by the Company, to make Tax-Deferred Contributions of up
to 30% of Compensation for a pay date. 

  

	 	(b)	Automatic Enrollment. Except as set forth in Supplement A or in Section 3.8, each Employee who becomes an Eligible Employee shall be deemed to have elected to have
2% of his or her Compensation withheld and contributed to the Plan on his or her behalf as a Tax-Deferred Contribution. Each Employee who becomes an Eligible Employee and who affirmatively elects out of automatic enrollment (in other words, who
elects not to become a Plan Participant) shall not be automatically enrolled again under this Subsection. These withheld amounts will be invested in the Plan’s qualified default investment alternative unless otherwise elected by the Eligible
Employee. Such Eligible Employee will receive a notice that explains this automatic deferral feature, the Employee’s right to elect not to have his or her Compensation automatically reduced and contributed to the Plan or to have another
percentage contributed, and the procedure for making an alternate election. An automatic deferral election shall be treated for all purposes of the Plan as a voluntary deferral election. The amount deferred by a Participant will be withheld from the
Participant’s Compensation and contributed to the Plan on the Participant’s behalf by the Participant’s Employer. 

  

	4.2	After-Tax Contributions 

Each Participant may elect, pursuant to rules established by the Company, to make After-Tax Contributions by electing to contribute an
amount from his or her Compensation after the imposition of income taxes; provided, however, that any such contributions that are voluntary and unmatched contributions may not, in the aggregate, exceed 10% of the Participant’s Compensation for
all his years as a Participant. Subject to the conditions and limitations of the Plan and any limitations imposed by the Company, each Participant may elect (in even multiples of one percent) to make After-Tax Contributions of up to 10% of
Compensation for a pay date. 
  

	4.3	Catch-Up Contributions 

Pursuant to rules established by the Company, all Participants who are eligible to make Tax-Deferred Contributions and who have attained
age 50 before the close of the calendar year shall be eligible to make Catch-Up Contributions which shall not exceed for any Plan Year $1,000 or any such other dollar limitation imposed by PRIRC Section 1165(e)(7)(A) or Hacienda. The Plan shall
not be treated as failing to satisfy the provisions of the Plan implementing the requirements of PRIRC Sections 1165(e)(3) and 1165(e)(7)(A) (that is, the “actual deferral ratio” limitation and the dollar limitation imposed on Tax-Deferred
Contributions by Section 8) by reason of the making of such Catch-Up Contributions. 
  

	4.4	Limitation on Total Tax-Deferred and After-Tax Contributions 

 A Participant’s aggregate Tax-Deferred and After-Tax Contributions for any pay date may not exceed 40% of the Participant’s Compensation for that pay date. In the event that a Participant elects
a combined rate of Tax-Deferred and After-Tax Contributions that exceeds the maximum percentage limitation then in effect, to the extent necessary to comply with such limitation, the Participant’s After-Tax Contribution rate shall be reduced
first and then the Participant’s Tax-Deferred Contribution rate shall be reduced. Further limitations on Tax-Deferred Contributions may also apply as set forth in Section 8. 

 

	4.5	Change, Discontinuance, or Resumption of Tax-Deferred and/or After-Tax Contributions 

Participants may commence making, change their contribution rates for, discontinue making, and/or resume making Tax-Deferred and/or
After-Tax Contributions (but not retroactively) within the limits specified in Subsections 4.1 through 4.4. Subject to the conditions and limitations of the Plan, a Participant’s election to make Tax-Deferred and/or After-Tax Contributions
shall remain in effect until any change or suspension properly elected by the Participant becomes effective. Participant elections made under this Subsection shall become effective in accordance with such rules as the Company shall establish.

	4.6	Rollover Contributions 

At the direction of the Company, at such time as the Company determines, and in accordance with such rules as the Company may establish
from time to time, the Plan will accept Rollover Contributions of distributions made from a trust or individual retirement account that is eligible for transfer to the Plan pursuant to the rollover provisions of the PRIRC. 

Rollover Contributions described above will be credited to the Participant’s Rollover Contribution Account. If the Company learns
that all or part of a Rollover Contribution did not meet the requirements of the PRIRC and the regulations and rulings thereunder, the Company shall direct the Trustee to distribute to the Participant the ineligible portion of the Rollover
Contribution (and earnings thereon) that was credited to the Participant’s Account. 
 SECTION 5 

Employer Contributions 
  

	5.1	Employer Contributions of Employee Elected Amounts 

 Subject to the conditions and limitations of the Plan, on behalf of each Active Participant, each Employer will make a contribution to the Plan equal to the amount of Tax-Deferred, After-Tax, and Catch-Up
Contributions made by each Participant employed by that Employer. Such contributions shall be paid to the Trustee as soon as practicable following the reduction in the Participants’ Compensation, but in no event more than 15 business days after
the end of the month in which the reduction in Compensation is made. Each Participant’s contributions (if any) shall be credited to the Participant’s applicable Account as soon as practicable following the date such contributions are paid
to the Trustee. 
  

	5.2	Regular Matching Contributions 

 Subject to the conditions and limitations of the Plan, each Employer will make a Regular Matching Contribution to the Plan for each pay date on behalf of each Participant who makes a Tax-Deferred
Contribution, Catch-Up Contribution and/or an After-Tax Contribution for that pay date. Each Employer’s Regular Matching Contribution shall equal 100% of the portion of a Participant’s Tax-Deferred Contributions, Catch-Up Contributions,
and/or After-Tax Contributions which, in the aggregate, does not exceed 4% of the Participant’s Compensation. 
  

	5.3	Discretionary Matching Contributions 

 Each Employer may, in its discretion, make a Discretionary Matching Contribution to the Plan for each pay date on behalf of each of its Eligible Employees who has met the allocation requirements for
Discretionary Matching Contributions. The amount of any such Discretionary Matching Contribution with respect to similarly situated Eligible Employees, shall be determined by the Company in a non-discriminatory manner, and shall be equal to a
uniform percentage, determined by the Company, in its discretion, of the Tax-Deferred and/or After-Tax Contributions made for the pay date by or on behalf of such similarly situated Eligible Employees. 

 

	5.4	Qualified Nonelective Contributions 

 Each Employer may, in its discretion, make Qualified Nonelective Contributions to the Plan for the Contribution Period in an amount determined by the Company. Such Qualified Nonelective Contributions
shall be allocated to the Accounts of all or a portion of Eligible Employees as determined by the Company to the extent necessary to satisfy PRIRC Section 1165(e)(3) limits with respect to Tax-Deferred Contributions. 

	5.5	Payment, Limitations, and Form of Payment of Employer Contributions 

 

	 	(a)	Regular Matching Contributions and Discretionary Matching Contributions for a payroll period shall be paid to the Trustee and shall be credited to the
Participant’s Matching Contribution Account in accordance with such rules as the Company shall establish. 

  

	 	(b)	Qualified Nonelective Contributions for the Plan Year shall be paid to the Trustee and shall be credited to the Participant’s Qualified Nonelective Contribution
Account in accordance with such rules as the Company shall establish. 

  

	 	(c)	In no event will an Employer’s share of the contributions described in this Section 5 exceed an amount equal to the maximum amount deductible on account
thereof by that Employer under the applicable provisions of the PRIRC for the fiscal year for which the contribution is made. 

  

	 	(d)	Payment to the Trustee of part or all of an Employer’s share of the contributions described in this Section 5 shall be made in cash or in qualifying employer
securities, as defined in ERISA Section 407(d)(5). 

  

	 	(e)	Regular Matching and Discretionary Matching Contributions for any Plan Year shall be made according to this Section 5 on the applicable contributions that have
been posted to the Participant’s account for a pay date on or as soon as practicable thereafter, without interest, but no later than the time prescribed by law for filing the Employer’s income tax returns for such fiscal year, including
extensions thereof. 

 SECTION 6 
 Investment of Participant and Employer Contributions 
  

	6.1	Investment Funds 

 The
Investment Committee may designate, in its discretion, one or more Investment Funds for the investment of Participants’ Accounts. The Investment Committee, in its discretion, may from time to time establish new Investment Funds or eliminate
existing Investment Funds. 
 The Plan shall offer an Investment Fund invested in shares of Common Stock issued by the Company,
provided such shares are publicly traded and meet the requirements for ‘qualifying employer securities’ under Section 407(d)(5) of ERISA. No Participant (or Beneficiary) shall be required to invest in such Investment Fund. The Plan
Administrator may establish rules and procedures relative to investing in such Investment Fund, including limitations on the amount or percentage of a Participant’s (or Beneficiary’s) Account that may be invested in such Investment Fund.

 During any period in which the Plan is an “applicable individual account plan” under Section 204(j) of ERISA
through which assets may be invested in publicly-traded employer securities, all Plan Investment Fund rules and procedures regarding the investment of Participant Accounts will comply with the requirements of Section 204(j) of ERISA and
applicable regulations. 
  

	6.2	Investment Fund Elections 

A Participant may elect to invest his or her contributions in one or more of the Investment Funds in accordance with the rules established
from time to time by the Company. A Participant may change his or her investment election with respect to future contributions in accordance with the rules established from time to time by the Company. A Participant’s investment election shall
remain in effect until later changed in accordance with the rules of the Company. If a Participant does not make a valid investment election, all contributions by the Participant and on his or her behalf will be invested in the qualified default
investment alternative designated by the Investment Committee for such purpose. 

	6.3	Investment Fund Transfers 

A Participant may elect that all or a part of his or her interest in an Investment Fund shall be liquidated and the proceeds thereof
transferred to one or more of the other Investment Funds. A Participant may make Investment Fund transfers in accordance with the rules established from time to time by the Company. Furthermore, pursuant to rules established by the Investment
Committee or an Investment Fund, the Investment Fund may restrict a Participant from transferring into or out of the Investment Fund if the Investment Committee or Investment Fund determines that the Participant’s transfer activity would be
detrimental to the Investment Fund. The foregoing provisions of this Subsection are contingent upon the availability of transfers and reallocations between Investment Funds under the terms of the investments made by each Investment Fund. 

 

	6.4	Voting of Company Stock; Tender Offers 

 The Company shall notify Participants of each meeting of the shareholders of The Gap, Inc. and shall furnish to them copies of the information distributed to shareholders in connection with any such
meeting. The Company also shall notify the Participants that they are entitled to give the Trustee voting instructions as to the shares of Stock credited to their Accounts. If a Participant furnishes timely instructions to the Trustee, the Trustee
(in person or by proxy) shall vote the shares (including fractional shares) of Stock credited to the Participant’s Accounts in accordance with the directions of the Participant. The Trustee shall vote shares for which it has not received timely
direction in the same proportion as directed shares are voted. 
 Similarly, the Company shall notify Participants of any tender
offer for, exchange of, or a request or invitation for tenders of Stock and shall request from each Participant instructions for the Trustee as to the tendering of Stock credited to his or her Accounts. The Trustee shall tender or exchange such
Stock as to which it receives (within the time specified in the notification) instructions to tender or exchange. Any Stock credited to the Accounts of Participants as to which instructions not to tender or exchange are received and as to which no
instructions are received shall not be tendered or exchanged. 
  

	6.5	Appointment of Fiduciary; Confidentiality of Participant Instructions 

 The Investment Committee shall be designated, under Section 404(c) of ERISA, as the fiduciary responsible for ensuring that: (i) the procedures adopted by the Company with respect to the
exercise of the voting and tender rights under Subsection 6.4 are sufficient to safeguard the confidentiality of information related to such exercise; (ii) such procedures are being followed by the Company; and (iii) an independent
fiduciary is appointed whenever the Investment Committee deems it appropriate for the proper exercise of the foregoing voting and tender rights. 
 SECTION 7 
 Accounting 

 

	7.1	Individual Accounts 

 The
Company will maintain in the name of each Participant, as applicable, the following Accounts: 
  

	 	(a)	Tax-Deferred Contribution Account. A Tax-Deferred Contribution Account to reflect the Participant’s Tax-Deferred Contributions (if any) and Catch-Up Contributions
(if any), and the income, losses, expenses, appreciation, and depreciation attributable thereto. 

  

	 	(b)	After-Tax Contribution Account. An After-Tax Contribution Account to reflect the Participant’s After-Tax Contributions (if any) and the income, losses, expenses,
appreciation, and depreciation attributable thereto. 

  

	 	(c)	Matching Contribution Account. A Matching Contribution Account to reflect the Regular Matching Contributions and Discretionary Matching Contributions made on behalf of
the Participant and the income, losses, expenses, appreciation, and depreciation attributable thereto. 

	 	(d)	Qualified Nonelective Contribution Account. A Qualified Nonelective Contribution Account to reflect the Qualified Nonelective Contributions made on behalf of the
Participant and the income, losses, expenses, appreciation, and depreciation attributable thereto. 

  

	 	(e)	Rollover Contribution Account. A Rollover Contribution Account to reflect the Participant’s Rollover Contributions and the income, losses, expenses, appreciation,
and depreciation attributable thereto. 

  

	 	(f)	Transfer Contribution Account. A Transfer Contribution Account to reflect the Participant’s Transfer Contributions and the income, losses, expenses, appreciation,
and depreciation attributable thereto. 

 Income, losses, expenses, appreciation, and depreciation shall be separately allocated
on a reasonable and consistent basis to each Account described above. Each Account described above may be divided into separate subaccounts reflecting the value of the interests of such Accounts in the respective Investment Funds. The Company may
establish such rules and procedures relating to the maintenance, adjustment, and liquidation of Participants’ Accounts, and the crediting of contributions and the income, losses, expenses, appreciation, and depreciation attributable thereto, as
are considered necessary or advisable. In addition to the Accounts described above, the Company may maintain such other Accounts or subaccounts in the names of Participants or otherwise as the Company considers necessary or desirable. 

 

	7.2	Adjustment of Accounts 

Pursuant to rules established by the Company and applied on a uniform basis, Participants’ Accounts will be adjusted on each
Accounting Date to reflect the value of the various Investment Funds as of such date, including adjustments to reflect any distributions (including withdrawals), contributions, rollovers, loans, transfers between Investment Funds, income, losses,
expenses, appreciation, or depreciation with respect to such Accounts since the previous accounting date. The Trustee shall value any Investment Fund under the Plan pursuant to the terms of the Trust. 

Notwithstanding the foregoing, the Company may establish separate rules to be applied on a uniform basis in adjusting any portion of
Participants’ Accounts that is invested in the Common Stock of the Company for such accounting period, including the treatment of any dividends or stock splits with respect to the securities held in such funds. Such rules may include provisions
for (i) allocating earnings from short-term investments during an accounting period to the subaccounts of Participants; (ii) allocating dividends or stock splits to Participants’ subaccounts invested in the applicable Investment Fund
(or to a separate Account or subaccount, as applicable); (iii) allocating shares of Stock to Participants’ subaccounts based on the average purchase price per share purchased by the Trustee during such accounting period; and
(iv) allocating shares of stock (or other securities) to Participants’ subaccounts based on the applicable stock split or stock dividend factor or other similar basis. 

 

	7.3	Statement of Account 

 At
such times and in such manner as determined by the Company, and subject to any applicable provisions of ERISA or the PRIRC, each Participant will be furnished with a statement reflecting the condition of his or her Accounts in the Trust Fund.

  

	7.4	Accounts for Alternate Payees 

 A separate Account shall be established for an Alternate Payee entitled to any portion of a Participant’s Account under a qualified domestic relations order in accordance with procedures established
by the Company and applicable law. Such separate Account shall be valued and accounted for in the same manner as any other Account, subject to the following: 
  

	 	(a)	Distributions. Pursuant to the terms of the qualified domestic relations order, an Alternate Payee may receive a distribution of his or her benefits in the same manner
as if such Alternate Payee were a Participant at any time after the qualified domestic relations order has been approved by the Company, without regard to whether such distribution is made or commences prior to the Participant’s earliest
retirement age (as defined in ERISA Section 206(d)). 

	 	(b)	Investment Direction. If a separate Account has been established on behalf of an Alternate Payee but all of the amounts in the Account have not yet been distributed,
the Alternate Payee may direct the investment of such Account in the same manner as if such Alternate Payee were a Participant. 

  

	 	(c)	Assignments. An Alternate Payee may not enter into an arrangement described in U.S. Treasury Regulation Section 1.401(a)-13(e). 

 

	 	(d)	Designation of Beneficiary. Subject to the Company’s rules, an Alternate Payee may designate one or more Beneficiaries to receive payment of the Alternate
Payee’s separate Account under the Plan in the same manner as if such Alternate Payee were a Participant, except that the Alternate Payee may designate a Beneficiary other than his or her spouse without the consent of such spouse.

  

	7.5	Order of Withdrawals and Distributions 

 Any amounts to be paid to a Participant or a Participant’s Beneficiary (or an Alternate Payee under a qualified domestic relations order) shall be withdrawn from the Accounts as determined by the
Company for withdrawals, loans, and distributions from the Plan. In addition, each payment shall be charged against the Investment Fund subaccounts in the applicable Account in accordance with such rules as shall be established from time to time by
the Company. 
 SECTION 8 
 Contribution and Benefit Limitations 
  

	8.1	Average Deferral Percentage Limits on Contributions 

 Tax-Deferred Contributions made under the Plan are subject to the limits of PRIRC Section 1165(e)(3). The Plan provisions relating to PRIRC Section 1165(e)(3) are to be interpreted and applied
in accordance with PRIRC Sections 1165(e)(3) and 1165(a)(4) and requirements relating to such sections as may be prescribed by Hacienda from time to time, which are hereby incorporated by reference. The limits apply as follows: 

 

	 	(a)	Actual deferral ratios. For each Plan Year the Plan Administrator will determine the “actual deferral ratio” for each Participant who is eligible for
Tax-Deferred Contributions. The actual deferral ratio shall be the ratio, calculated to the nearest one-hundredth of 1%, of the Tax-Deferred Contributions (plus any Qualified Nonelective Contributions treated as Tax-Deferred Contributions) made on
behalf of the Participant for the Plan Year to the Participant’s Compensation for the applicable period. For purposes of determining a Participant’s actual deferral ratio: 

 

	 	(i)	Tax-Deferred Contributions will be taken into account only if both of the following requirements are satisfied: 

 

	 	(A)	the Tax-Deferred Contributions are allocated to the Participant’s Tax-Deferred Contribution Account as of a date within the Plan Year, are not contingent upon
participation in the Plan or performance of services on any date subsequent to that date, and are actually paid to the Trust no later than the end of the 12-month period immediately following the Plan Year to which the contribution relates; and

	 	(B)	 the Tax-Deferred Contributions relate to Compensation that either would have been received by the Participant in the Plan Year but for the
Participant’s election to defer under the Plan or is attributable to services performed in the Plan Year and, but for the Participant’s election to defer, would have been received by the Participant within 2 1/2 months after the close of the Plan Year.

  

	 	    	To the extent Tax-Deferred Contributions that meet the requirements of (A) and (B) above constitute excess deferrals described in Section 8.2, they will
be taken into account for each Highly Compensated Employee, but will not be taken into account for any Participant who is not a Highly Compensated Employee. 

 

	 	(ii)	In the case of a Participant who is a Highly Compensated Employee for the Plan Year and is eligible to have Tax-Deferred Contributions (and Qualified Nonelective
Contributions, to the extent treated as Tax-Deferred Contributions) allocated to his or her accounts under two or more cash or deferred arrangements described in PRIRC Section 1165(e) maintained by one or more Controlled Group Members, the
Participant’s actual deferral ratio shall be determined as if such Tax-Deferred Contributions (as well as Qualified Nonelective Contributions) are made under a single arrangement, and if two or more of the cash or deferred arrangements have
different Plan Years, all cash or deferred arrangements ending with or within the same calendar year shall be treated as a single arrangement. 

  

	 	(A)	The applicable period for determining Compensation for each Participant for a Plan Year shall be the 12-month period ending on the last day of such Plan Year;
provided that, to the extent permitted under Hacienda regulations, the Plan Administrator may choose, on a uniform basis, to treat as the applicable period only that portion of the Plan Year during which the individual was a Participant.

  

	 	(B)	Qualified Nonelective Contributions made on behalf of Participants who are eligible to receive Tax-Deferred Contributions shall be treated as Tax-Deferred Contributions
to the extent permitted by PRIRC Section 1165(e)(3)(D)(ii). 

  

	 	(C)	In the event that the Plan satisfies the requirements of PRIRC Sections 1165(e), 1165(a)(3), or 1165(a)(4) only if aggregated with one or more other plans with the same
Plan Year, or if one or more other plans with the same Plan Year satisfy such sections only if aggregated with this Plan, then this Section shall be applied by determining the actual deferral ratios as if all such plans were a single plan.

  

	 	(D)	An Employee who would be a Participant but for the failure to make Tax-Deferred Contributions shall be treated as a Participant on whose behalf no Tax-Deferred
Contributions are made. 

	 	(b)	Actual deferral percentages. The actual deferral ratios for all Highly Compensated Employees who are eligible for Tax-Deferred Contributions for a Plan Year shall be
averaged to determine the actual deferral percentage for the highly compensated group, and the actual deferral ratios for all Employees who are not Highly Compensated Employees but are eligible for Tax-Deferred Contributions for the Plan Year shall
be averaged to determine the actual deferral percentage for the nonhighly compensated group. The actual deferral percentages must satisfy at least one of the following tests: 

 

	 	(i)	The actual deferral percentage for the highly compensated group does not exceed 125% of the actual deferral percentage for the nonhighly compensated group; or

  

	 	(ii)	The excess of the actual deferral percentage for the highly compensated group over the actual deferral percentage for the nonhighly compensated group does not exceed
two percentage points, and the actual deferral percentage for the highly compensated group does not exceed twice the actual deferral percentage of the nonhighly compensated group. 

The tests in (i) and (ii) above shall be applied using the actual deferral percentage for the current Plan Year for both the
highly compensated group and the nonhighly compensated group. 
  

	 	(c)	Adjustments by the Plan Administrator. If, prior to the time all Tax-Deferred Contributions for a Plan Year have been contributed to the Trust, the Plan Administrator
determines that Tax-Deferred Contributions are being made at a rate that will cause the PRIRC Section 1165(e)(3) limits to be exceeded for the Plan Year, the Plan Administrator may, in its sole discretion, limit the amount of Tax-Deferred
Contributions to be made with respect to one or more Highly Compensated Employees for the balance of the Plan Year by suspending or reducing Tax-Deferred Contribution elections to the extent the Plan Administrator deems appropriate. Any Tax-Deferred
Contributions that would otherwise be made to the Trust shall instead be paid to the affected Participant in cash. 

  

	 	(d)	Excess contributions. If the PRIRC Section 1165(e)(3) limits have not been met for a Plan Year after all contributions for the Plan Year have been made, the Plan
Administrator will determine the amount of excess contributions with respect to Participants who are Highly Compensated Employees. To do so, the Plan Administrator will perform the following computation; first, the actual deferral ratio of the
Highly Compensated Employee with the highest actual deferral ratio shall be reduced to the extent necessary to (i) enable the Plan to satisfy the PRIRC Section 1165(e)(3) limits or (ii) cause such employee’s actual deferral ratio
to equal the actual deferral ratio of the Highly Compensated Employee with the next highest actual deferral ratio, and then this process will be repeated until the Plan satisfies the PRIRC Section 1165(e)(3) limits. 

 

	 	(e)	Distribution of excess contributions. The amount of reductions determined under paragraph (v) above shall be distributed to the same Highly Compensated Employees
to whom such excess contributions relate. Income on excess contributions shall be distributed in accordance with applicable Hacienda regulations. 

  

	 	(f)	Special rule. For purposes of distributing excess contributions, the amount of excess contributions that may be distributed with respect to a Highly Compensated
Employee for a Plan Year shall be reduced by the amount of excess deferrals previously distributed to the Highly Compensated Employee for his or her taxable year ending with or within such Plan Year. 

 

	 	(g)	Recordkeeping requirement. The Plan Administrator, on behalf of the Employers, shall maintain such records as are necessary to demonstrate compliance with the PRIRC
Section 1165(e)(3) limits including the extent to which Qualified Nonelective Contributions are taken into account in determining the actual deferral ratio. 

	 	(h)	Effect on Matching Contributions. To the extent any Matching Contributions have been made with respect to a Participant’s Tax-Deferred Contributions that are
returned as a result of the PRIRC Section 1165(e)(3) limits for a Plan Year, such Matching Contributions shall be forfeited as of the date of distribution of the Participant’s Tax-Deferred Contributions and shall constitute a forfeiture.

  

	8.2	Annual Limits on Contributions 

 The maximum amount of Tax-Deferred Contributions made on behalf of any Participant for any calendar year, when added to the amount of elective deferrals under all other plans with a qualified cash or
deferred arrangement (as defined in PRIRC Section 1165(e)) of a Controlled Group Member with respect to the Participant for the calendar year, shall in no event exceed the maximum applicable limit in effect for the calendar year under PRIRC
Section 1165(e)(7)(A). A Participant will be considered to have made “excess deferrals” for a taxable year to the extent that the Participant’s elective deferrals for the taxable year exceed the applicable limit described above
for the year. The following rules will apply: 
  

	 	(a)	Distribution of Excess Deferrals. In the event that an amount is included in a Participant’s gross income for a taxable year as a result of an excess deferral
under PRIRC Section 1165(e)(7)(A), and the Participant notifies the Plan Administrator on or before the March 1 following the taxable year that all or a specified part of a Tax-Deferred Contribution made for his or her benefit represents
an excess deferral, the Plan Administrator shall make every reasonable effort to cause such excess deferral, adjusted for allocable income, to be distributed to the Participant no later than the April 15 following the calendar year in which
such excess deferral was made. The income allocable to excess deferrals is equal to the allocable gain or loss for the taxable year of the individual, but not the allocable gain or loss for the period between the end of the taxable year and the date
of distribution (the “gap period”). Income allocable to excess deferrals for the taxable year shall be determined by multiplying the gain or loss attributable to the Participant’s Tax-Deferred Contribution Account for the taxable year
by a fraction, the numerator of which is the Participant’s excess deferrals for the taxable year, and the denominator of which is the sum of the Participant’s Tax-Deferred Contribution Account balance as of the beginning of the taxable
year plus the Participant’s Tax-Deferred Contributions for the taxable year. No distribution of an excess deferral shall be made during the taxable year of a Participant in which the excess deferral was made unless the correcting distribution
is made after the date on which the Plan received the excess deferral and both the Participant and the Plan designate the distribution as a distribution of an excess deferral. The amount of any excess deferrals that may be distributed to a
Participant for a taxable year shall be reduced by the amount of Tax-Deferred Contributions that were excess contributions and were previously distributed to the Participant for the Plan Year beginning with or within such taxable year.

  

	 	(b)	Treatment of excess deferrals. For purposes of PRIRC Sections 1165(a)(3), 1165(a)(4), 1165(e)(3), and 1023(n), excess deferrals must be treated as employer
contributions even if they are distributed in accordance with paragraph (a) above. However, excess deferrals of a Participant who is not a Highly Compensated Employee will not be taken into account for purposes of PRIRC Section 1165(e)(3).

  

	8.3	Limits Based on Deductibility. 

 The sum of the contributions made by each Participant under the Plan for any Plan Year shall not exceed the maximum amount deductible under the applicable provisions of the PRIRC. All contributions under
the Plan made by an Employer are expressly conditioned on their deductibility under PRIRC Section 1023(n) for the taxable year when paid (or treated as paid under PRIRC Section 1023(n)(1)(E)). 

 SECTION 9 
 Period of Participation and Vesting 
  

	9.1	Termination Date 

 A
Participant’s Termination Date will be the date on which the Participant’s employment with the Employers and Controlled Group Members is terminated because of the first to occur of the following: 

 

	 	(a)	the Participant’s retirement; 

  

	 	(b)	the Participant’s termination of employment after becoming a Disabled Employee; 

 

	 	(c)	the Participant’s death; 

  

	 	(d)	the Participant’s resignation or dismissal for a reason other than those described in (a), (b) or (c); or 

 

	 	(e)	the first anniversary of the first date of a period during which a Participant is absent from work with all Employers and Controlled Group Members for any other reason
than resignation, retirement, discharge or death, such as vacation, holiday, sickness, leave of absence or layoff; provided, however, that if a Participant terminates employment with or is absent from work with all Employers and Controlled Group
Members on account of service with the armed forces of the United States, he or she shall not incur a Termination Date if he or she is eligible for reemployment rights under the Uniformed Services Employment and Reemployment Rights Act of 1994 and
he or she returns to work with an Employer or a Controlled Group Member within the period during which he or she retains such reemployment rights, but, if he or she does not return to work within such period, his or her Termination Date shall be the
earlier of the date which is one year after his or her absence commenced or the last day of the period during which he or she retains such reemployment rights. 

 

	9.2	Status of Inactive Participant 

 An Inactive Participant will be considered and treated as a Participant for all purposes of the Plan, except that he or she shall not be permitted to do any of the following: 

 

	 	(a)	make any contributions under Section 4; 

  

	 	(b)	receive an allocation of Employer contributions under Section 5; 

  

	 	(c)	receive a loan from the Plan under Section 10; or 

  

	 	(d)	receive an in-service withdrawal from the Plan under Section 10 unless such Inactive Participant is employed by a Controlled Group Member.

  

	9.3	Vesting of Benefits 

 A
Participant shall be fully vested at all times in his or her Account balances; provided, however, that neither the Company, the Trustee, nor any Employer in any way guarantees the Participant’s Account balance from loss or depreciation.

	9.4	Disposition of Non-Vested Amounts 

 That portion of a Participant’s Employer contributions, if any, that is not vested upon the occurrence of his or her Termination Date shall be forfeited as of a date following such Termination Date
that is prescribed by the Company in a uniform and non-discriminatory manner. 
  

	9.5	Treatment of Forfeited Amounts 

 Whenever the non-vested balance of a Participant’s Employer contributions is forfeited during a Plan Year in accordance with the provisions of Subsections 8.1 or 9.4, the amount of such forfeiture
shall be applied against the Employer contribution obligations for any subsequent Contribution Period of the Employer for which the Participant last performed services as an Employee or against Plan expenses, as directed by the Company.
Notwithstanding the foregoing, however, should the amount of all such forfeitures for any Contribution Period with respect to any Employer exceed the amount of such Employer’s Employer contribution obligation for the Contribution Period, the
excess amount of such forfeitures shall be held unallocated in a suspense account established with respect to the Employer and shall be applied against Plan expenses and the Employer’s Employer contribution obligations for the following
Contribution Period. In addition to the other forfeitures described in this Section 9, if the total vested balance of a Participant’s Accounts is a de minimis amount (currently, $5.00 or less), such amount will be treated as a forfeiture
and disposed of under the terms of this Subsection 9.5. 
  

	9.6	Recrediting of Forfeited Amounts 

 A former Participant who forfeited the non-vested portion of his or her Employer contributions in accordance with the provisions of Subsection 9.4 before the end of the consecutive five-year period of
severance (as defined in U.S. Treasury Regulations Section 1.410(a)-7(b)(5)) beginning on his or her Termination Date and who is reemployed by an Employer or a Controlled Group Member shall have such forfeited amounts recredited in his or her
name, if he or she returns to employment with an Employer or a Controlled Group Member before the end of the five-year period beginning on the date he or she received, or is deemed to have received, distribution of his or her Accounts. Funds needed
in any Plan Year to recredit the Account of a Participant with the amounts of prior forfeitures in accordance with the preceding sentence shall come first from forfeitures that arise during such Plan Year, and then from Trust income earned in such
Plan Year, to the extent that it has not yet been allocated among Participants’ Accounts, with each Trust Fund being charged with the amount of such income proportionately, unless his or her Employer chooses to make an additional Employer
contribution, and shall finally be provided by his or her Employer by way of a separate Employer contribution. 
  

	9.7	Death During Military Service 

 Notwithstanding any provision of the Plan to the contrary, in the case of a Participant who dies while performing qualified military service (as defined in USIRC Section 414(u)), the survivors of the
Participant are entitled to any benefits provided under the Plan had the Participant resumed and then terminated employment on account of death. 
 SECTION 10 
 In-Service Withdrawals and Loans 

 

	10.1	Non-Hardship Withdrawals of Accounts 

  

	 	(a)	A Participant whose Termination Date has not occurred may elect to withdraw all or any portion of the balances in his or her After-Tax Contribution Account or Rollover
Contribution Account at any time. 

  

	 	(b)	 A Participant on military leave for at least 30 days whose Termination Date has not yet occurred will be eligible to receive a distribution of all or a
portion of his or her entire Tax-Deferred Contribution Account balance while on military leave to the same extent as if his or her Termination Date had occurred after such 30th day. Such Participant’s right to make Tax-Deferred Contributions or
After-Tax Contributions following such a distribution will be suspended for a six-month period after such a distribution. 

	 	 
Notwithstanding anything in the Plan to the contrary, withdrawals under this Subparagraph 10.1(b) shall be subject to the HEART Act and applicable U.S. Treasury Regulations and guidance issued
thereunder, the requirements of which are incorporated herein by reference. 

 A Participant must apply for a
non-hardship withdrawal such number of days prior to the date as of which it is to be effective as the Company may prescribe. Withdrawals may be made effective as soon as administratively practicable after the Company’s approval of the
Participant’s withdrawal application. 
  

	10.2	Hardship Withdrawals of Accounts 

 In the event a Participant suffers a serious financial hardship, such Participant may withdraw a portion of the vested balance in his or her Tax-Deferred Contribution Account, After-Tax Contribution
Account, and Matching Contribution Account (but excluding earnings credited to his or her Tax-Deferred Contribution Account) provided, that the amount of the withdrawal is at least $500, does not exceed the amount required to meet the immediate
financial need created by the serious financial hardship, and is not reasonably available from other resources of the Participant including nontaxable loans and all other currently available distributions other than hardship withdrawals, under this
Plan and all other plans maintained by a Controlled Group Member. 
 Serious financial need must be shown by positive evidence
submitted to the Company. The withdrawal must be necessary to meet a serious and immediate financial need and be necessary to satisfy such financial need, in accordance with the following paragraphs. 

 

	 	(a)	Serious and Immediate Financial Need. A hardship shall be deemed on account of a serious and immediate financial need only if the withdrawal is on account of:

  

	 	(i)	expenses previously incurred by or necessary to obtain medical care described in PRIRC Section 213 for the Participant, the Participant’s spouse, children or
dependents; 

  

	 	(ii)	costs directly related to the purchase (excluding mortgage payments) of a principal residence for the Participant; 

 

	 	(iii)	payment of tuition, related educational fees, and room and board expenses for the next 12 months of post secondary education for the Participant, or the
Participant’s spouse, child, or other dependent; 

  

	 	(iv)	payments necessary to prevent the eviction of the Participant from his principal residence or foreclosure on the mortgage on the Participant’s principal residence;
or 

  

	 	(v)	any additional circumstances which may be determined by Hacienda to constitute a sufficient basis for a hardship withdrawal. 

 

	 	(b)	Necessary Amount. A determination of whether the requirement that the withdrawal not exceed the amount required to meet the serious and immediate financial need created
by the hardship is satisfied shall be made on the basis of all relevant facts and circumstances in a consistent and nondiscriminatory manner; provided, however, that the Participant must provide the Company with a statement on which the Company may
reasonably rely, unless it has actual knowledge to the contrary, certifying that the Participant’s financial need cannot be relieved by all of the following means: 

 

	 	(i)	through reimbursement or compensation by insurance or otherwise; 

  

	 	(ii)	by reasonable liquidation of the Participant’s assets, to the extent such liquidation would not itself cause an immediate and heavy financial need;

	 	(iii)	by cessation of Tax-Deferred Contributions or After-Tax Contributions; or 

  

	 	(iv)	by other distributions which are currently available to the Participant, or nontaxable (at the time of the loan) loans from plans maintained by the Employer or by any
other employer, or by borrowing from commercial sources on reasonable commercial terms. 

 For purposes of the
foregoing, a Participant’s resources shall be deemed to include those assets of the Participant’s spouse and minor children that are reasonably available to the Participant. Thus, for example, property owned by the Participant and the
Participant’s spouse, whether as community property, joint tenants, tenants by the entirety, or tenants in common, will be deemed a resource of the Participant. Property held for the Participant’s child, however, under an irrevocable trust
or under the United States Uniform Gifts to Minors Act will not be treated as a resource of the Participant. To the extent that a Participant’s hardship can be partially relieved by any of the sources identified in the Participant’s
representation, other than borrowing from commercial sources, the Participant must utilize such source (to the extent such utilization would not itself cause an immediate and heavy financial need), before a hardship withdrawal is deemed necessary
under the Plan. 
  

	 	(c)	If a Participant receives a hardship distribution pursuant to the Plan, he or she shall not be entitled to make Tax-Deferred Contributions or After-Tax Contributions
for twelve (12) months following the date of the receipt of the hardship withdrawal. 

  

	 	(d)	No Participant will be entitled to more than four hardship withdrawals as described in this Section in any Plan Year. 

 

	 	(e)	To obtain a hardship withdrawal, a Participant must submit his withdrawal request in accordance with procedures and within such time periods as may be determined by the
Company. Hardship withdrawals shall be made as soon as administratively feasible after the Company has received the Participant’s withdrawal request and such information and documents from the Participant as the Company shall deem necessary.

  

	10.3	 Withdrawals After Age
59- 1/2 

A Participant who has attained age 59- 1/2, whose Termination Date has not occurred, may elect to withdraw all
or any portion of the balances in his or her vested Accounts, excluding any outstanding loan amounts, under the following conditions: 
  

	 	(a)	a distribution to a Participant under this Subsection shall be made in a lump sum; 

 

	 	(b)	a distribution to a Participant under this Subsection shall be immediately charged to his or her Accounts, but he or she shall continue to share in Employer
contributions and his or her Account balances shall continue to be held and adjusted on each Accounting Date, subject to the conditions and limitations of the Plan; and 

 

	 	(c)	if a Participant’s Termination Date occurs after he or she makes an election in accordance with this Subsection but prior to distribution of his or her Account
balances, the election shall be considered a request for a full lump sum payment in accordance with the provisions of Section 11. 

	10.4	Payments of Amounts Withdrawn 

 Withdrawals under this Section 10 shall be paid to the Participant in accordance with procedures established by the Company. 

 

	10.5	Loans to Participants 

Although the primary purpose of the Plan is to allow Participants to accumulate funds for retirement, the Company may allow Participants
to request loans from their Accounts. Accordingly, the Company may (pursuant to procedures the Company shall establish for loan applications, loan processing, and loan administration, which are incorporated into and made part of the Plan by
reference), approve a loan to a Participant, subject to the following: 
  

	 	(a)	Terms and conditions of loans. All loans shall be subject to the following terms and conditions: 

 

	 	(i)	a loan shall be evidenced by a written note in a form approved by the Company and shall provide for repayment over a fixed period and interest at the prevailing rate,
which payment period and interest rate shall be determined by the Company in a uniform manner; 

  

	 	(ii)	a Participant shall be limited to two outstanding loans at a time, inclusive of loans taken under the GapShare 401(k) Plan; 

 

	 	(iii)	pursuant to rules established by the Company, the Participant shall pledge a portion of his or her Accounts as security for such loan; and 

 

	 	(iv)	a Participant shall consent to the charging of his Account (upon the occurrence of a distributable event under the Plan) for unpaid principal and interest amounts in
the event the loan is declared to be in default. 

  

	 	(b)	Amount of loans. The principal amount of any loan made to a Participant, together with the unpaid balance of any other outstanding loans under the Plan on the date the
loan is made, shall not exceed the lesser of (i) or (ii) below: 

  

	 	(i)	$50,000, reduced by the excess (if any) of: 

  

	 	(A)	the highest outstanding balance of loans under the Plan and all other Employer plans qualified under the PRIRC during the 12-month period ending on the day before the
date on which such loan was made; minus 

  

	 	(B)	the outstanding balance of such outstanding loans on the date on which such loan was made; or 

(ii) one-half of the balance of the Participant’s Accounts. 

Notwithstanding any other provision, the principal amount of any loan made to a Participant shall not be less than $1,000. 

 

	 	(c)	Sources for loans. A loan to a Participant may be made from the Participant’s vested Accounts in the manner established by the Company. The Participant shall pay
from his or her Accounts all reasonable fees related to the processing of any loan. 

  

	 	(d)	Repayment of loans. 

  

	 	(i)	A loan shall specify a repayment period that shall not extend beyond 5 years after the date the loan is made, unless the proceeds of the loan are used to purchase the
Participant’s principal place of residence, in which case such loan must be repaid within 15 years after the date the loan is made. 

	 	(ii)	Repayment of the amount of the loan will be made by payroll deduction. Each loan shall require substantially level amortization with payments not less frequently than
quarterly. 

  

	 	(iii)	No partial prepayments will be accepted, although prepayment of the entire loan is permitted at any time without penalty. 

 

	 	(iv)	Pursuant to rules established by the Company, Participants on an unpaid Leave of Absence (without pay or at a rate of pay less than the amount of the Participant’s
loan payments) may be permitted to defer repayments for up to one year, and may be given a grace period to repay the loan if a payment is missed. Notwithstanding the foregoing, for Participants on a Leave of Absence due to qualified military
service: (A) loan repayments may be suspended in accordance with USIRC Section 414(u)(4), and (B) for the duration of the qualified military service, the interest rate on an outstanding loan shall be capped at the lesser of the
original loan rate or 6 percent. 

  

	 	(v)	Loans for which a regularly scheduled payment(s) has been missed will be considered delinquent in accordance with procedures established by the Company. Pursuant to
such procedures, the Company may provide for a cure period during which make-up payments in satisfaction of missed payments may be allowed. Delinquent loans shall be considered in default and a distributable event at the end of any cure period
established by the Company, however, such cure period can never extend beyond the end of the calendar quarter following the calendar quarter in which a payment is missed and not made up. 

 

	 	(e)	Unpaid loans. If any portion of the balance of a Participant’s loan remains unpaid following the Participant’s Termination Date, or after the Participant has
been on an unpaid Leave of Absence for a fixed period of time, as determined by the Company, an amount equal to the unpaid balance of such loan or any part thereof shall be charged to the Participant’s Account at such time and in such manner as
provided by the Company’s rules regarding Participant loans, after all other adjustments required under the Plan have been made, but before any payment or distribution is made pursuant to the provisions of Sections 10 or 11.

 SECTION 11 
 Payment of Account Balances 
  

	11.1	Manner of Distribution 

Subject to the conditions set forth below in this Section, after each Participant’s Termination Date, all vested Account balances in
the respective Investment Funds held for such Participant will be distributed to or for the benefit of the Participant, or in case of his or her death, to or for the benefit of his or her Beneficiary. A Participant’s vested Accounts will be
distributed in the form of a single lump sum payment, in accordance with procedures established by the Company. 
  

	11.2	Vested and Nonvested Amounts 

 A Participant shall at all times be fully vested in and have a nonforfeitable right to the balance in his or her Tax-Deferred Contribution Account, After-Tax Contribution Account, Matching Contribution
Account, Qualified Nonelective Contribution Account, Rollover Contribution Account, and Transfer Contribution Account. 

	11.3	Adjustment of Account Balances 

 Pursuant to procedures established by the Company, after a Participant’s Termination Date has occurred and pending distribution of the Participant’s Account balance, the Participant’s
Account shall be held under the Plan and shall be subject to adjustment under Section 7 until such time as all or the applicable portion of the Participant’s Account is liquidated in order to make a distribution to the Participant (or the
Participant’s Beneficiary). 
  

	11.4	Distributions in Shares 

Distributions of amounts invested in Company Stock may be made in cash or in shares, as elected by the Participant, provided such shares,
if any, are distributed at their Fair Market Value. Each Participant who elects distribution of amounts invested in Company Stock in the form of shares of Common Stock of the Company who subsequently has additional contributions credited to his or
her Accounts shall receive such additional contributions in cash. If an election is made by the Participant to direct the Trustee to distribute the balance of his or her Accounts invested in Company Stock in cash, the Participant shall receive cash
equal to the Fair Market Value of the balance of his or her Accounts, as of the most administratively feasible date of distribution. For purposes of this Subsection, the rights extended to a Participant hereunder shall also apply to any Beneficiary
or Alternate Payee of such Participant. All other distributions shall be made in cash. 
  

	11.5	Direct Rollover of Eligible Rollover Distribution 

 If payment of a Participant’s benefits constitutes an Eligible Rollover Distribution, then the Participant or other Eligible Distributee may elect to have such distribution paid directly to an
Eligible Retirement Plan. Notwithstanding any provision to the contrary that would otherwise limit an Eligible Distributee’s election under this Section 11.5, an Eligible Distributee may elect in writing, at the time and in the manner
prescribed by the Company, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Eligible Distributee in a direct rollover. 

 

	11.6	Timing of Distributions 

Following a Participant’s Termination Date, distribution of the balance of a Participant’s Account shall be made or shall
commence as follows: 
  

	 	(a)	Account Balances; Consent. Payment of a Participant’s Account balance shall be made pursuant to the Participant’s request for payment and within the time
frame established by the Company. Notwithstanding any provision of the Plan to the contrary, a distribution may not be made to a Participant (or the Participant’s Beneficiary) without the Participant’s consent if the Participant’s
Account balance exceeds $1,000 as of the date of such distribution. 

  

	 	(b)	Mandatory Cash-outs. Notwithstanding any other provision of this Section 11, if a Participant’s (or the Participant Beneficiary’s) Account balance does
not exceed $1,000 after any outstanding loan amount has been offset against the Account balances, then such vested Account balances shall be distributed to the Participant (or the Participant’s Beneficiary) in a single lump sum in accordance
with rules and procedures established by the Company. 

 If the value of a Participant’s (or the Participant
Beneficiary’s) entire benefit under the Plan is zero, the Participant shall be deemed to have received an immediate distribution of such benefit. 

	11.7	Procedures on Receipt of a Domestic Relations Order 

 If the Plan receives a domestic relations order which creates, assigns, or recognizes any right to a benefit payable with respect to a Participant, the following procedures shall be followed: 

 

	 	(a)	The Company or its delegate shall determine whether such order is a qualified domestic relations order in accordance with written uniform rules that comply with
Section 206(d)(3)(G)(ii) of ERISA. 

  

	 	(b)	The Company or its delegate shall notify the Participant and each Alternate Payee under the order as to the receipt of the order, the procedures for determining whether
the order is qualified and the final determination within a reasonable period of time, or such period as may be specified in applicable regulations. 

  

	 	(c)	During the period of determining whether the order is qualified, the Company shall separately account for any amounts that would be payable to the alternate payee
during such period if the order had been determined to be a Qualified Domestic Relations Order. Such separate accounting is not required for amounts that would not otherwise be paid during the determination period. 

If within the eighteen-month period beginning with the date on which the payment would be required to be made under the order, the order
is determined to be a Qualified Domestic Relations Order, the amounts specified in the order as payable shall be paid to the Alternate Payee in a lump sum payment. If the order is not determined to be qualified, or the determination is not resolved
within such eighteen-month period, the Company shall pay such benefits that have been separately accounted for (plus interest) to the Participant, or Beneficiary, if any, who would otherwise have received such benefits if the order had not been
issued. 
  

	11.8	Designation of Beneficiary 

Each Participant may designate as a Beneficiary any individual, trust, charity, or other person or persons to whom the Participant’s
benefits are to be paid if the Participant dies before the Participant receives all of the Participant’s benefits. A beneficiary designation must be made in a form, electronic or otherwise, furnished by the Company for this purpose, and such
form must be signed by the Participant. A Beneficiary designation form will be effective only when the form is filed, electronically or otherwise, with the Company while the Participant is alive and will cancel all the Participant’s Beneficiary
designation forms previously filed with the Company. Notwithstanding any other provisions of this Plan and any Beneficiary designation filed with the Company in accordance with this Subsection, if a Participant dies and has a spouse, the
Participant’s Account balance shall be payable in full to the Participant’s spouse in accordance with this Section 11 (treating such spouse as the Participant’s Beneficiary), unless prior to the Participant’s death the
following requirements were met: 
  

	 	(a)	the Participant elected that the Participant’s benefits under the Plan be paid to a person other than the Participant’s spouse; 

 

	 	(b)	the Participant’s spouse consented in writing to such election; 

  

	 	(c)	the spouse’s consent acknowledged the effect of such election and was witnessed by a notary public; and 

 

	 	(d)	such election designates a Beneficiary that may not be changed without further spousal consent, unless the spouse executed a general written consent expressly
permitting changes of the Beneficiary without any requirement of further consent of the spouse. 

 The consent of the
Participant’s spouse shall not be required if (i) the spouse cannot be located or (ii) the Participant is legally separated or has been abandoned (within the meaning of local law), and the Participant has a court order to that effect.
If a deceased Participant failed to designate a Beneficiary as provided above, or if the Beneficiary dies before the Participant or before complete payment of the Participant’s benefits, the Participant’s benefits shall be distributed in
accordance with the following: 
  

	 	(e)	to the Participant’s spouse (determined as of the date of the Participant’s death); 

	 	(f)	if Subparagraph (e) does not apply because the Participant does not have a spouse on the date of his or her death, to the legal representative or representatives
of the estate of the Participant; 

  

	 	(g)	if Subparagraph (f) does not apply because an estate is not opened on behalf of the Participant, to the duly authorized individual properly designated by any
applicable small estate affidavit or similar documentation issued pursuant to applicable law. 

 Notwithstanding
any provision of this Subsection to the contrary, and notwithstanding any effective Beneficiary designation made by the Participant or pursuant to the Company’s rules, the Beneficiary of a deceased Participant may designate as a Beneficiary any
natural or legal person or persons to whom the first Beneficiary’s benefits are to be paid if the first Beneficiary dies before complete payment of all benefits payable to such Beneficiary under the Plan. 

 

	11.9	Payment of Taxes 

 The
Company may direct the Trustee to deduct, withhold, and transmit to the proper tax authorities any tax which may be permitted or required to be deducted and withheld, and the balance of the account in such case shall be correspondingly reduced. In
addition, the Company, as a condition of directing the payment of any account balance, may require the Participant or Beneficiary, as the case may be, to furnish it with proof of payment, or such reasonable indemnity therefore as the Company may
specify, of all income, inheritance, estate, transfer, legacy and/or succession taxes, and all other taxes of any different type or kind that may be imposed under or by virtue of any law upon the payment, transfer, descent or distribution of said
benefit and for the payment of which either the Company or the Trust Fund, in the judgment of the Company, may be directly or indirectly liable. 
 SECTION 12 
 General Provisions 

 

	12.1	Interests Not Transferable 

The interests of persons entitled to benefits under the Plan are not subject to their debts or other obligations and, except as may be
required by the tax withholding provisions of the PRIRC or other applicable income tax act or pursuant to a qualified domestic relations order as defined in ERISA Section 206(d), may not be voluntarily or involuntarily sold, transferred,
alienated, assigned, or encumbered. 
  

	12.2	Absence of Guaranty 

Neither the Company, the Trustee, nor any Employer in any way guarantees the Trust Fund from loss or depreciation. Except as required by
applicable law, the Company and the Employers do not guarantee any payment to any person. The liability of a Trustee or the Company to make any payment under the Plan shall be limited to the assets held by the Trustee which are available for that
purpose. 
  

	12.3	Employment Rights 

 The
Plan does not constitute a contract of employment and participation in the Plan shall not give any Employee the right to be retained in the employ of the Company or any Employer (or any Controlled Group Member), nor any right or claim to any benefit
under the Plan, unless such right or claim has specifically accrued under the terms of the Plan. 

	12.4	Litigation by Participants or Other Persons 

 If a legal action begun against the Trustee, the Company, an Employer, a Controlled Group Member, or any person or persons to whom the Company has delegated all or part of its duties hereunder, by or on
behalf of any person results adversely to that person, or if a legal action arises because of conflicting claims to a Participant’s or other person’s benefits, the cost to the Trustee, the Company, an Employer, a Controlled Group Member,
or any person or persons to whom the Company has delegated all or part of its duties hereunder of defending the action shall be charged to the extent permitted by law to the sums, if any, which were involved in the action or were payable to the
Participant or other person concerned. 
  

	12.5	Evidence 

 Evidence
required of anyone under the Plan may be by certificate, affidavit, document, or other information that the person acting on it considers pertinent and reliable, and signed, made, or presented by the proper party or parties. 

 

	12.6	Waiver of Notice 

 Any
notice required under the Plan may be waived by the person entitled to such notice. 
  

	12.7	Controlling Law 

 Except
to the extent superseded by laws of the United States, the laws of Puerto Rico shall be controlling in all matters relating to the Plan. 
  

	12.8	Statutory References 

 Any
reference in the Plan to a PRIRC section or a section of ERISA, or to a section of any other applicable law, shall include any comparable section or sections of any future legislation that amends, supplements, or supersedes that section. 

 

	12.9	Severability 

 In case any
provision of the Plan shall be held illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining provisions of the Plan, and the Plan shall be construed and enforced as if such illegal and invalid provision had
never been set forth in the Plan. 
  

	12.10	Action By Employers 

 Any
action required or permitted to be taken by the Company or an Employer under the Plan shall be by resolution of its Board of Directors, by resolution of a duly authorized committee of its Board of Directors, or by a person or persons authorized by
resolution of its Board of Directors or such committee. 
  

	12.11	Gender and Number 

 Where
the context permits, words in the masculine gender shall include the feminine and neuter genders, the singular shall include the plural, and the plural shall include the singular. 

 

	12.12	Examination of Documents 

Copies of the Plan and Trust, and any amendments thereto, are on file at the office of the Company where they may be examined by any
Participant or other person entitled to benefits under the Plan during normal business hours. 

	12.13	Elections 

 Each election
or request required or permitted to be made by a Participant (or a Participant’s spouse or Beneficiary) shall be made in accordance with the rules and procedures established by the Company and shall be effective as determined by the Company.
The Company’s rules and procedures shall address, among other things, the method and timing of any elections or requests required or permitted to be made by a Participant (or a Participant’s spouse or Beneficiary). This Subsection
shall also apply to an Alternate Payee under a qualified domestic relations order. 
  

	12.14	Manner of Delivery 

 Each
notice or statement provided to a Participant shall be delivered in any manner established by the Company and in accordance with applicable law, including, but not limited to, electronic delivery. 

 

	12.15	Incompetent Payee 

 When a
person entitled to benefits under the Plan is under legal disability, or, in the Company’s opinion, is in any way incapacitated so as to be unable to manage his or her financial affairs, the Company may direct the Trustee to pay the benefits to
such person’s legal representative, or to a relative or friend of such person for such person’s benefit, or the Company may direct the application of such benefits for the benefit of such person. Any payment made in accordance with the
preceding sentence shall be a full and complete discharge of any liability for such payment under the Plan. 
  

	12.16	Missing Persons 

 The
Employers and the Company shall not be required to search for or locate a Participant, spouse, or Beneficiary. Each Participant, spouse, and Beneficiary must file with the Company from time to time in writing the Participant’s, spouse’s,
or Beneficiary’s post office address and each change of post office address. Any communication, statement, or notice addressed to a Participant, spouse, or Beneficiary at the last post office address filed with the Company, or if no address is
filed with the Company, then in the case of a Participant, at the Participant’s last post office address as shown on the Employers’ records, shall be considered a notification for purposes of the Plan and shall be binding on the
Participant and the Participant’s spouse and Beneficiary for all purposes of the Plan. If the Company notifies a Participant, spouse, or Beneficiary of the provisions of this Subsection, and the Participant, spouse, or Beneficiary fails to
claim the Participant’s, spouse’s, or Beneficiary’s benefits or make such person’s whereabouts known to the Company within 3 years after the notification, the benefits of the Participant, spouse, or Beneficiary may be disposed
of, to the extent permitted by applicable law, by one or more of the following methods: 
  

	 	(a)	By retaining such benefits in the Plan. 

  

	 	(b)	By paying such benefits to a court of competent jurisdiction for judicial determination of the right thereto. 

 

	 	(c)	By forfeiting such benefits in accordance with procedures established by the Company. If a Participant, spouse, or Beneficiary is subsequently located, such benefits
shall be restored to the Participant, spouse, or Beneficiary under the Plan. 

  

	 	(d)	By any equitable manner permitted by law under rules adopted by the Company. 

 This Subsection shall also apply to an Alternate Payee under a qualified domestic relations order. 
  

	12.17	Recovery of Benefits 

 In
the event a person entitled to benefits under the Plan receives a benefit payment from the Plan that is in excess of the benefit payment that should have been made to such person or in the event a person other than a person entitled to benefits
under the Plan receives an erroneous payment from the Plan, the Company shall have the right, on behalf of the Plan, to recover the amount of the excess or erroneous payment from the recipient. To the extent permitted under applicable law, the
Company may, at its option, deduct the amount of such excess or 

 
erroneous payment from any future benefits payable on behalf of a Participant, regardless of whether such amount would otherwise be paid to such person who did not receive the overpayment. This
Subsection shall also apply to an Alternate Payee under a qualified domestic relations order. 
  

	12.18	Effect on Other Benefits 

Except as otherwise specifically provided under the terms of this Plan and of any other employee benefit plan of an Employer, a
Participant’s participation in this Plan shall not affect the benefits provided under such other employee benefit plan. 
  

	12.19	Indemnification 

 To the
extent permitted by applicable law and except as provided below, no person who is or was (a) a member of the Company’s Board of Directors, (b) an employee of an Employer or Controlled Group Member to whom responsibilities with respect
to the Plan or Trust had been assigned or delegated, or (c) an individual specifically designated by the Company (each and all an “indemnitee”) shall be personally liable for any act done or omitted to be done in good faith in the
discharge of the indemnitee’s assigned or delegated responsibilities relating to the operation or administration of the Plan or the Trust or the investment of the Trust Fund. Further, each indemnitee shall, to the extent permitted by applicable
law and except as provided below, be indemnified and held harmless by the Employers (to the extent not indemnified or held harmless under any liability insurance contract or other indemnification arrangement related to the Plan or Trust) from and
against any and all liability or claim of liability to which the indemnitee may be subjected by reason of any act done or omitted to be done in good faith in the discharge of the indemnitee’s assigned or delegated responsibilities relating to
the operation or administration of the Plan or the Trust or the investment of the Trust Fund, including all reasonable expenses (including attorneys’ fees and costs) incurred in the indemnitee’s defense, provided: (i) the indemnitee
shall have given the Company (or if the indemnitee is a member of the Company’s board of directors, the secretary of the Company) prompt notice of any claim hereunder; (ii) the indemnitee cooperates fully in the Employers’ defense of
any such claim; and (iii) the indemnitee makes no settlement or compromise of any such claim without the Company’s prior written consent. The indemnitee shall not be entitled to indemnification for any liability for or based upon, either
directly or indirectly: (A) any willful violation of applicable laws, regulations, or statutes or intentional misconduct by the indemnitee; or (B) any assertions, allegations, causes of action, or demands whatsoever by or on behalf of such
indemnitee against another indemnitee, the Employers, the Controlled Group Members, the Plan, or the Trust. Questions as to the entitlement of an indemnitee to the indemnification provided herein shall be decided by the Company or by the designee of
the Company. 
 SECTION 13 
 Restrictions as to Reversion of 
 Trust Fund to the Employers

 The Company and the Employers shall have no right, title, or interest in the assets of the Trust Fund. No part of the
assets of the Trust Fund at any time will revert to, or be repaid to, the Company or the Employers, directly or indirectly, except as follows: 
  

	 	(a)	if Hacienda initially determines that the Plan, as applied to an Employer, does not meet the requirements of a “qualified plan” under PRIRC
Section 1165(a), the assets of the Trust Fund attributable to contributions made by the Employer under the Plan shall be returned to the Company or the Employer within one year of the date of denial of qualification of the Plan as applied to
the Employer; 

  

	 	(b)	if a contribution or a portion of a contribution is made by an Employer as a result of a mistake of fact, such contribution or portion of a contribution shall not be
considered to have been contributed to the Trust by the Employer and, after having been reduced by any losses of the Trust allocable thereto, shall be returned to the Employer within one year of the date the amount is paid to the Trust; or

	 	(c)	if a contribution made by an Employer is conditioned upon the deductibility of such contribution as an expense under the PRIRC, to the extent the deduction for the
contribution made by the Employer is disallowed, such contribution, or portion of such contribution, after having been reduced by any losses of the Trust allocable thereto, shall be returned to the Employer within one year of the date of
disallowance of the deduction. 

 Contributions may be returned to the Company or an Employer pursuant to Subparagraph
(a) above only if they are conditioned upon initial qualification of the Plan as applied to that Employer and an application for determination was made by the time prescribed by law for filing the Employer’s income tax return for the
taxable year in which the Plan was adopted (or such later date as Hacienda may prescribe). In no event may the return of a contribution pursuant to Subparagraph (b) or (c) above cause any Participant’s Account balance to be less than
the amount of such balance had the contribution not been made under the Plan. 
 SECTION 14 

Amendment and Termination 
  

	14.1	Amendment 

 While the
Company expects and intends to continue the Plan, the Company reserves the right to amend the Plan from time to time, except as follows: 
 the duties and liabilities of the Company under the Plan cannot be increased substantially without its consent; 
 no amendment shall reduce the value of a Participant’s accrued benefit (as adjusted for income, losses, expenses, appreciation, and depreciation) to less than the amount he or she would be entitled
to receive if he or she had resigned from the employ of all of the Employers on the effective date of the amendment; and 

except as provided in Section 13, under no condition shall any amendment result in the return or repayment to any Employer of any
part of the Trust Fund or the income therefrom, or result in the distribution of the Trust Fund for the benefit of anyone other than Employees and former Employees and any other persons entitled to benefits under the Plan. 

 

	14.2	Termination 

 The Plan
will terminate as to all Employers on any date specified by the Company if 30 days’ advance written notice of the termination is given to the Company, the Trustee, and the other Employers. The Plan will terminate as to an individual Employer on
the first to occur of the following: 
  

	 	(a)	the date it is terminated by that Employer if 30 days’ advance written notice of the termination is given to the Trustee, the Company, and the other Employers;

  

	 	(b)	the date that Employer is judicially declared bankrupt or insolvent; 

  

	 	(c)	the date that Employer completely discontinues contributions under the Plan; or 

 

	 	(d)	the dissolution, merger, consolidation, or reorganization of that Employer, or the sale by that Employer of all or substantially all of its assets, except that:

  

	 	(i)	in any such event, arrangements may be made with the consent of the Company whereby the Plan will be continued by any successor to that Employer or any purchaser of all
or substantially all of its assets, in which case the successor or purchaser will be substituted for that Employer under the Plan and the Trust; and 

	 	(ii)	if an Employer is merged, dissolved, or in any other way reorganized into, or consolidated with, any other Employer, the Plan as applied to the former Employer will
automatically continue in effect without a termination thereof. 

  

	14.3	Nonforfeitability and Distribution on Termination 

 On termination or partial termination of the Plan, the rights of all affected Participants to benefits accrued to the date of such termination, after all adjustments then required have been made, shall be
nonforfeitable. If the Plan as applied to an Employer is terminated, the Company shall specify a date as a Special Accounting Date. As soon as practicable after such Special Accounting Date, the Company shall direct the Trustee to distribute to each
Participant employed by that Employer his or her benefits under the Plan (unless he or she then is employed by another Employer or Controlled Group Member) by any one or more of the methods described in Subsection 11.1 as the Company decides;
provided, however, that distributions under this Subsection shall be directed by the Company only to the extent such distributions are permissible under PRIRC Section 1165(e) and the regulations and other guidance issued thereunder. All
appropriate accounting provisions of the Plan will continue to apply until the Account balances of all such Participants have been distributed under the Plan. 
  

	14.4	Plan Merger, Consolidation, Etc. 

 In the case of any merger or consolidation with, or transfer of assets or liabilities to, any other plan, each Participant’s benefit, if the Plan terminated immediately after such merger,
consolidation, or transfer shall be equal to or greater than the benefit he or she would have been entitled to receive if the Plan had terminated immediately before the merger, consolidation, or transfer. 

SECTION 15 

Company Actions and Claims Procedures 
  

	15.1	Plan Administration 

 The
Company shall administer the Plan. 
  

	15.2	Company Actions 

 The
Company may act by meeting (in person, by telephone, videoconference, or other electronic means approved by the Company) or by unanimous written consent signed without meeting. The Company may evidence its actions by signing one document or
concurrent documents. The Company may authorize an agent to take any actions necessary or advisable to carry out any decision of the Company. 
  

	15.3	Company General Powers, Rights, and Duties 

 Except as otherwise specifically provided herein, and in addition to the powers, rights, and duties specifically given to the Company elsewhere in the Plan and the Trust, the Company shall have the
following powers, rights, and duties, which shall be exercisable in the sole discretion of the Company: 
  

	 	(a)	to delegate, as it deems advisable, all or part of its powers, rights, and duties in accordance with Subsection 15.4; 

 

	 	(b)	to adopt such rules, procedures, and regulations as in its opinion may be necessary for the proper and efficient administration of the Plan and Trust and as are
consistent with the Plan and Trust and to change, alter, or amend such rules, procedures, and regulations; 

  

	 	(c)	to construe and interpret the provisions of the Plan and make factual determinations thereunder; 

	 	(d)	to determine all questions arising in the administration of the Plan, including the power to determine the rights or eligibility of Employees or Participants or any
other persons, and the amounts of their benefits (if any) under the Plan, and to remedy ambiguities, inconsistencies, or omissions, and any such determination shall be binding on all parties; 

 

	 	(e)	to employ and suitably compensate such agents, attorneys, accountants, actuaries, recordkeepers, or other persons (who also may be employed by the Employers) to render
advice and perform other services as the Company may deem necessary to carry out its powers, rights, and duties; 

  

	 	(f)	to hear, review, and decide claims for benefits (including benefit claims appeals) under the Plan; 

 

	 	(g)	to direct the Trustee regarding payments or distributions from the Trust Fund in accordance with the provisions of the Plan and Trust; 

 

	 	(h)	to furnish the Employers with such information as may be required by them for tax or other purposes in connection with the Plan; 

 

	 	(i)	to communicate the Plan and its requirements to Participants; and 

  

	 	(j)	to take such actions as the Company may deem necessary or advisable to correct any errors in the operation of the Plan. If, with respect to any Plan Year, an
administrative error results in an amount being paid to a Participant or any other individual who is not otherwise entitled to such amount, corrective action may be taken by the Company, including, but not limited to, requesting repayment from the
individual, directing the trustees to offset additional benefits to be paid to the individual by amounts incorrectly paid, or taking such other corrective action as necessary under the circumstances. Any Plan administration error may be corrected
using the appropriate correction method permitted under the United States Employee Plans Compliance Resolution System (or any successor procedure), as determined by the Company in its discretion. 

 

	15.4	Allocations and Delegations of Responsibility 

  

	 	(a)	The Company may delegate from time to time to such person or persons as it may deem advisable for the efficient administration of the Plan and Trust all or part of the
Company’s powers, rights, and duties under the Plan and the Trust and may authorize such person to delegate such powers, rights, and duties to other person or persons. Any such delegation may be made to an individual, a committee, or
subcommittee established by the Company, a third party, or any other entity selected by the Company. The Company at any time may modify or revoke any such delegation. 

 

	 	(b)	Any action of a delegatee in the exercise of its delegated responsibilities shall have the same force and effect for all purposes hereunder as if such action had been
taken by the Company. Except as otherwise provided by applicable law, the Company shall not be liable for any acts or omissions of any such delegatee. The delegatee shall periodically report to the Company concerning the discharge of its delegated
responsibilities. 

  

	 	(c)	Unless otherwise provided, references in the Plan to the Company shall include delegatees and designees of the Company. 

	15.5	Interested Employee 

 If
an Employee of the Company (or one of its delegatees or designees) also is a Participant in the Plan, he or she may not decide or determine any matter or question concerning distributions of any kind to be made to him or her or the nature or mode of
settlement of his or her benefits. 
  

	15.6	Compensation and Expenses 

Unless paid by the Employers and except as otherwise provided below, all reasonable costs, charges, and expenses incurred in the
administration of this Plan, including expenses incurred by the Company, compensation to the Trustee, compensation to an investment manager, and any compensation to agents, attorneys, actuaries, accountants, recordkeepers, and other persons
performing services on behalf of this Plan or for the Company will be paid from the Trust Fund in such portions as the Company may direct. As directed by the Company, expenses to be paid from the Trust Fund may be drawn from
(a) Participants’ Accounts, in the form of a flat fee, charges for specific services, or a percentage of the value of each Account, or (b) earnings or gains in each Investment Fund. Expenses directly related to the investment of a
particular Investment Fund (such as brokerage, postage, express and insurance charges, and transfer taxes) shall be paid from that Investment Fund. 
  

	15.7	Information Required by Company 

 Each person entitled to benefits under the Plan must file with the Company from time to time in writing such person’s post office address and each change of post office address. Any communication,
statement, or notice addressed to any person at the last post office address filed with the Company will be binding upon such person for all purposes of the Plan. Each person entitled to benefits under the Plan also shall furnish the Company with
such documents, evidence, data, or information as the Company considers necessary or desirable for the purposes of administering the Plan. The Employers shall furnish the Company with such data and information as the Company may deem necessary or
desirable in order to administer the Plan. The records of the Employers as to an Employee’s or Participant’s period of employment, termination of employment and the reason therefore, Leave of Absence, reemployment, and Compensation will be
conclusive on all persons unless determined to the Company’s satisfaction to be incorrect. 
  

	15.8	Uniform Application of Rules 

 The Company shall administer the Plan on a reasonable basis. Any rules, procedures, or regulations established by the Company shall be applied uniformly to all persons similarly situated. 

 

	15.9	Review of Benefit Determinations 

 Claims for benefits under the Plan shall be administered in accordance with Section 503 of ERISA, the regulations thereunder, and such reasonable claims procedures as may be established by the
Company. The Plan shall provide adequate notice to any Participant, spouse, Beneficiary, or other claimant whose claim for benefits under the Plan has been denied, setting forth the reasons for such denial, and shall afford such claimant a
reasonable opportunity for a full and fair review. After exhaustion of the Plan’s claim procedures, any further legal action taken against the Plan or its fiduciaries by the Participant, spouse, or Beneficiary (or other claimant) for benefits
under the Plan must be filed in a court of law no later than 90 days after the Company’s final decision regarding the claim. No action at law or in equity shall be brought to recover benefits under this Plan until the appeal rights herein
provided have been exercised and the Plan benefits requested in such appeal have been denied in whole or in part. All decisions and communications to Participants, spouses, Beneficiaries, or other persons regarding a claim for benefits under the
Plan shall be held strictly confidential by the Participant, spouse, or Beneficiary (or other claimant), and the Company, the Employers, and their agents. 
  

	15.10	Company’s Decision Final 

 Benefits under the Plan will be paid only if the Company decides in its sole discretion that a Participant or Beneficiary (or other claimant) is entitled to them. Subject to applicable law, any
interpretation of the provisions of the Plan and any decisions on any matter within the discretion of the Company made by the Company in good faith shall be binding on all persons. A misstatement or other mistake of fact shall be corrected when it
becomes known and the Company shall make such adjustment on account thereof as it considers equitable and practicable. 

 SECTION 16 
 Employers 
  

	16.1	Additional Employers 

 On
or after the Effective Date, the Plan may be adopted by a Controlled Group Member that was not an Employer as of the Effective Date by extending the Plan to Employees of that Controlled Group Member in accordance with procedures acceptable to the
Company. 
  

	16.2	Foreign Offices / Branches or Divisions 

 Notwithstanding any provision to the contrary: 
  

	 	(a)	No foreign sales office, administrative office, or other branch located outside the United States of any Employer shall be considered part of such Employer (unless
otherwise designated in writing by the Company in accordance with rules and procedures established by the Company). Any individuals employed in any such foreign sales or administrative office shall not be eligible to participate in the Plan. The
term “the United States” for purposes of this Subsection 16.2 shall be deemed to include Puerto Rico. 

  

	 	(b)	The Plan shall be extended to each branch or division of an Employer that employs Eligible Employees (other than a foreign sales office, administrative office, or other
branch located outside the United States) unless otherwise provided by the Company. 

  

	 	(c)	The Company may designate in writing any Employer (or branch or division of an Employer) to which the Plan shall cease to be extended.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}]]