Document:

Exhibit 10.1

    

   

    

  
    EXECUTION VERSION

    

    FIVE-YEAR CREDIT AGREEMENT

   

  dated as of

   

  May 26, 2021

   

  among

   

  HP INC.,

   

  The Lenders Party Hereto

   

  and

   

  JPMORGAN CHASE BANK, N.A.,

    as Administrative Agent

   
    

   

    

  JPMORGAN CHASE BANK, N.A.,

   

  BNP PARIBAS SECURITIES CORP.,

   

  BOFA SECURITIES, INC.,

   

  GOLDMAN SACHS BANK USA,

   

  HSBC SECURITIES (USA) INC.,

   

  and

   

  WELLS FARGO SECURITIES, LLC,

   

  as Joint Lead Arrangers and Joint Bookrunners

   
    

   

    

  BNP PARIBAS,

  as Syndication Agent

   

  and

  

  

  BNP PARIBAS,

  as Sustainability Structuring Agent

   

    

  
    
      

  

  
  TABLE OF CONTENTS

   

  	
          ARTICLE I

        
	 
	
          Definitions

        
	 
	
          SECTION 1.01.

        	
          Defined Terms

        	
          1

        
	
          SECTION 1.02.

        	
          Classification of Loans and Borrowings

        	
          40

        
	
          SECTION 1.03.

        	
          Terms Generally

        	
          41

        
	
          SECTION 1.04.

        	
          Accounting Terms; GAAP

        	
          41

        
	
          SECTION 1.05.

        	
          Exchange Rates; Currency Equivalents

        	
          42

        
	
          SECTION 1.06.

        	
          Interest Rates; LIBOR Notification

        	
          42

        
	
          SECTION 1.07.

        	
          Divisions

        	
          43

        
	 	 	 
	
          ARTICLE II

        
	 
	
          The Credits

        
	 
	
          SECTION 2.01.

        	
          Commitments

        	
          44

        
	
          SECTION 2.02.

        	
          Loans and Borrowings

        	
          44

        
	
          SECTION 2.03.

        	
          Requests for Revolving Borrowings

        	
          45

        
	
          SECTION 2.04.

        	
          Swingline Loans

        	
          46

        
	
          SECTION 2.05.

        	
          Funding of Borrowings

        	
          48

        
	
          SECTION 2.06.

        	
          Interest Elections

        	
          48

        
	
          SECTION 2.07.

        	
          Termination and Reduction of Commitments

        	
          50

        
	
          SECTION 2.08.

        	
          Repayment of Loans; Evidence of Debt

        	
          51

        
	
          SECTION 2.09.

        	
          Prepayment of Loans

        	
          52

        
	
          SECTION 2.10.

        	
          Fees

        	
          53

        
	
          SECTION 2.11.

        	
          Interest

        	
          53

        
	
          SECTION 2.12.

        	
          Alternate Rate of Interest

        	
          54

        
	
          SECTION 2.13.

        	
          Increased Costs

        	
          58

        
	
          SECTION 2.14.

        	
          Break Funding Payments

        	
          59

          

        
	
          SECTION 2.15.

        	
          Taxes

        	
          61

        
	
          SECTION 2.16.

        	
          Payments Generally; Pro Rata Treatment; Sharing of Setoffs

        	
          64

        
	
          SECTION 2.17.

        	
          Mitigation Obligations; Replacement of Lenders

        	
          66

        
	
          SECTION 2.18.

        	
          Defaulting Lenders

        	
          67

        
	
          SECTION 2.19.

        	
          Increase in Revolving Commitments

        	
          68

        
	
          SECTION 2.20.

        	
          Extension of Maturity Date

        	
          70

        
	
          SECTION 2.21.

        	
          Additional Reserve Costs

        	
          71

        
	
          SECTION 2.22.

        	
          [Reserved.]

        	
          71

        
	
          SECTION 2.23.

        	
          Designation of Borrowing Subsidiaries

        	
          71

        
	
          SECTION 2.24.

        	
          Sustainability Adjustments

        	72
	 	 	 
	ARTICLE III
	 	 	 
	Representations and Warranties

  

  

  
    - i -

    
      

  

  	
          SECTION 3.01.

        	
          Organization; Powers

        	
          75

        
	
          SECTION 3.02.

        	
          Authorization; Enforceability

        	
          75

        
	
          SECTION 3.03.

        	
          Governmental Approvals; No Conflicts

        	
          75

        
	
          SECTION 3.04.

        	
          Financial Condition; No Material Adverse Change

        	
          75

        
	
          SECTION 3.05.

        	
          Litigation and Environmental Matters

        	
          76

        
	
          SECTION 3.06.

        	
          Compliance with Laws and Agreements

        	
          76

        
	
          SECTION 3.07.

        	
          Investment Company Status

        	
          76

        
	
          SECTION 3.08.

        	
          Taxes

        	
          76

        
	
          SECTION 3.09.

        	
          ERISA

        	
          77

        
	
          SECTION 3.10.

        	
          Federal Reserve Regulations

        	
          77

        
	
          SECTION 3.11.

        	
          Pari Passu Status

        	
          77

        
	
          SECTION 3.12.

        	
          Anti-Corruption Laws and Sanctions

        	
          77

        
	 	 	 
	
          ARTICLE IV

        
	 
	
          Conditions

        
	 
	
          SECTION 4.01.

        	
          Effective Date

        	
          78

        
	
          SECTION 4.02.

        	
          Each Credit Event

        	
          79

        
	
          SECTION 4.03.

        	
          Credit Extensions to New Borrowing Subsidiaries

        	
          79

        
	 	 	 
	
          ARTICLE V

        
	 
	
          Affirmative Covenants

        
	 
	
          SECTION 5.01.

        	
          Financial Statements and Other Information

        	
          80

        
	
          SECTION 5.02.

        	
          Notices of Material Events

        	
          82

        
	
          SECTION 5.03.

        	
          Existence; Conduct of Business

        	
          82

        
	
          SECTION 5.04.

        	
          Payment of Taxes

        	
          83

        
	
          SECTION 5.05.

        	
          Maintenance of Properties; Insurance

        	
          83

        
	
          SECTION 5.06.

        	
          Books and Records; Inspection Rights

        	
          83

        
	
          SECTION 5.07.

        	
          Compliance with Laws

        	
          83

        
	
          SECTION 5.08.

        	
          Use of Proceeds

        	
          84

        
	 	 	 
	
          ARTICLE VI

        
	 
	
          Negative Covenants

        
	 
	
          SECTION 6.01.

        	
          Subsidiary Indebtedness

        	
          84

        
	
          SECTION 6.02.

        	
          Liens

        	
          86

        
	
          SECTION 6.03.

        	
          [Reserved.]

        	
          87

        
	
          SECTION 6.04.

        	
          Fundamental Changes

        	
          87

        
	
          SECTION 6.05.

        	
          Financial Covenants

        	
          88

        
	 	 	 
	ARTICLE VII
	 	 	 
	Events of Default

  

  

  
    - ii -

    
      

  

  	
          ARTICLE VIII

        
	 
	
          The Administrative Agent

        
	 
	
          ARTICLE IX

        
	 
	
          Guarantee

        
	 
	
          ARTICLE X

        
	 
	
          Miscellaneous

        
	 
	
          SECTION 10.01.

        	
          Notices

        	
          97

        
	
          SECTION 10.02.

        	
          Waivers; Amendments

        	
          98

        
	
          SECTION 10.03.

        	
          Expenses; Indemnity; Damage Waiver

        	
          100

        
	
          SECTION 10.04.

        	
          Successors and Assigns

        	
          103

        
	
          SECTION 10.05.

        	
          Survival

        	
          106

        
	
          SECTION 10.06.

        	
          Counterparts; Integration; Effectiveness

        	
          106

        
	
          SECTION 10.07.

        	
          Severability

        	
          107

        
	
          SECTION 10.08.

        	
          Right of Setoff

        	
          108

        
	
          SECTION 10.09.

        	
          Governing Law; Jurisdiction; Consent to Service of Process

        	
          108

        
	
          SECTION 10.10.

        	
          WAIVER OF JURY TRIAL

        	
          109

        
	
          SECTION 10.11.

        	
          Headings

        	
          109

        
	
          SECTION 10.12.

        	
          Confidentiality

        	
          109

        
	
          SECTION 10.13.

        	
          Authorization to Distribute Certain Materials to Public-Siders; Material Non-Public Information

        	
          110

        
	
          SECTION 10.14.

        	
          Patriot Act and Beneficial Ownership Regulation

        	
          111

        
	
          SECTION 10.15.

        	
          Conversion of Currencies

        	
          111

        
	
          SECTION 10.16.

        	
          No Fiduciary Duty

        	
          111

        
	
          SECTION 10.17.

        	
          Acknowledgement and Consent to Bail-In of Affected Financial Institutions

        	
          112

        
	
          SECTION 10.18.

        	
          Certain ERISA Matters

        	
          112

        

  

     

  
    - iii -

    
      

  

  SCHEDULES:

   

  Schedule 1.01 – Sustainability Table

  Schedule 2.01 – Commitments

  Schedule 3.05 – Litigation and Environmental Matters

  Schedule 6.01 – Existing Subsidiary Indebtedness

  

  

  EXHIBITS:

   

  Exhibit A –  Form of Assignment and Assumption

  Exhibit B – [Intentionally Omitted.]

  Exhibit C-1 – Form of Borrowing Subsidiary Joinder Agreement

  Exhibit C-2 – Form of Borrowing Subsidiary Termination Agreement

  Exhibit D-1 – Form of U.S. Tax Certificate for Non-U.S. Lenders that are not Partnerships for U.S. Federal Income Tax Purposes

  Exhibit D-2 – Form of U.S. Tax Certificate for Non-U.S. Lenders that are Partnerships for U.S. Federal Income Tax Purposes

  Exhibit D-3 – Form of U.S. Tax Certificate for Non-U.S. Participants that are not Partnerships for U.S. Federal Income Tax Purposes

  Exhibit D-4 – Form of U.S. Tax Certificate for Non-U.S. Participants that are Partnerships for U.S. Federal Income Tax Purposes

  Exhibit E – Form of Pricing Certificate

  

  

  
    - iv -

    
      

  

  FIVE-YEAR CREDIT AGREEMENT dated as of May 26, 2021 (the “Agreement”),

    among HP INC., the BORROWING SUBSIDIARIES from time to time party hereto, the LENDERS party hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent.

   

  The parties hereto agree as follows:

   

  ARTICLE I

      

      Definitions

   

  SECTION 1.01.   Defined Terms.  As used in this Agreement, including the recitals above,
        the following terms have the meanings specified below:

   

  “ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising
    such Borrowing, bears interest at a rate determined by reference to the Alternate Base Rate.  All ABR Loans shall be denominated in Dollars.

   

  “Adjusted EURIBOR Rate” means, with respect to any Eurocurrency Borrowing denominated in Euros for any Interest
    Period, an interest rate per annum equal to (a)  the EURIBOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

   

  “Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing denominated in Dollars for any Interest
    Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period (or such date, as applicable) multiplied by
    (b) the Statutory Reserve Rate.

   

  “Administrative Agent” means JPMorgan Chase Bank, N.A. (or any of its designated branch offices or affiliates),
    in its capacity as administrative agent for the Lenders hereunder.

   

  “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative
    Agent.

   

  “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.

   

  “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one
    or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.

   

  “Agreed Currencies” means Dollars and each Designated Foreign Currency.

   

  “Agreement” has the meaning assigned to such term in the preamble.

   

  
    
      

    2

  

  
  “Agreement Currency” has the meaning assigned to such term in Section 10.15(b).

   

  “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in
    effect on such day, (b) the NYFRB Rate in effect on such day plus 1⁄2 of 1.00% per annum and (c) the Adjusted LIBO Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in US Dollars with a maturity
    of one month plus 1.00% per annum.  For purposes of clause (c) above, the Adjusted LIBO Rate on any day shall be based on the LIBO Screen Rate at approximately 11:00 a.m., London time, on such day for deposits in Dollars with a maturity of one month
    (or, in the event the LIBO Screen Rate for deposits in Dollars is not available for such maturity of one month, shall be based on the LIBO Interpolated  Rate as of such time).  If the Alternate Base Rate is being used as an alternate rate of interest
    pursuant to Section 2.12 (for the avoidance of doubt, only until the Benchmark Replacement has been determined pursuant to Section 2.12(b)), then the Alternate Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without
    reference to clause (c) above.  If the Alternate Base Rate, determined as set forth above, would be less than 1.00%, such rate shall be deemed to be 1.00% for purposes hereof.

   

  “Ancillary Document” has the meaning assigned to such term in Section 10.06(b).

   

  “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Company and
    the Subsidiaries from time to time concerning or relating to bribery or corruption.

   

  “Applicable Creditor” has the meaning assigned to such term in Section 10.15(b).

   

  “Applicable Funding Account” means an account of the Company or a Borrowing Subsidiary that is specified in a
    written notice from a Financial Officer of the Company delivered to and reasonably approved by the Administrative Agent for the funding of the proceeds of Loans hereunder.

   

  “Applicable Percentage” means, with respect to any Lender and any Class of Loans or Commitments, the percentage
    of the Commitments of such Class represented by such Lender’s Commitments of such Class; provided that in the case of Section 2.18 when a Defaulting Lender shall exist, “Applicable
    Percentage” shall mean the percentage of the total Commitments (disregarding any Defaulting Lender’s Commitment) represented by such Lender’s Commitment.  If the Commitments have terminated or expired, the Applicable Percentages shall be determined
    based upon the Commitments of the relevant Class most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination.

   

  “Applicable Rate” means, for any day on or after the Effective Date and with respect to any ABR Loan,
    Eurocurrency Loan, SONIA Loan, CBR Loan or the commitment fees payable hereunder, the applicable rate per annum set forth below in basis

  

   

    

  
    
      

    3

  

   points per annum under the caption “ABR Spread,” “Eurocurrency Spread”, “SONIA Spread”, “CBR Spread” or “Commitment Fee Rate,” as the case may be, based upon the Ratings of S&P, Moody’s and Fitch, respectively, applicable on such date to the
    Index Debt:

   

  

  	
          Index Debt Ratings:

        	
          ABR

              Spread

        	
          Eurocurrency

              Spread

        	
          SONIA

              Spread

        	
          CBR

              Spread

        	
          Commitment

              Fee Rate

        
	 	 	 	 	 	 
	
          Category 1

          Rating of A-, A3 or A- (or higher)

        	
          0.0

        	
          100.0

        	
          103.26

        	
          100.0

        	
          9.0

        
	 	 	 	 	 	 
	
          Category 2

          Rating of BBB+, Baa1 or BBB+

        	
          12.5

        	
          112.5

        	
          115.76

        	
          112.5

        	
          10.0

        
	 	 	 	 	 	 
	
          Category 3

          Rating of BBB, Baa2 or BBB

        	
          25.0

        	
          125.0

        	
          128.26

        	
          125.0

        	
          12.5

        
	 	 	 	 	 	 
	
          Category 4

          Rating of BBB-, Baa3 or BBB-

        	
          37.5

        	
          137.5

        	
          140.76

        	
          137.5

        	
          17.5

        
	 	 	 	 	 	 
	
          Category 5

          Rating of BB+, Ba1 or BB+ (or lower)

        	
          62.5

        	
          162.5

        	
          165.76

        	
          162.5

        	
          22.5

        

  

  

  It is hereby understood and agreed that, the Applicable Rate with respect to any Loans or commitment fees payable hereunder shall be adjusted from time to time based upon
    the Sustainability Rate Adjustment and the Sustainability Fee Adjustment, as the case may be (to be calculated and applied as set forth in Section 2.24).

   

  “Applicable Time” means, with respect to any Borrowings and payments in any Designated Foreign Currency, the
    local time in the place of settlement for such Designated Foreign Currency as may determined by the Administrative Agent to be necessary for timely settlement on the relevant date in accordance with normal banking procedures in the place of payment.

   

  “Arrangers” means JPMorgan Chase Bank, N.A., BNP Paribas Securities Corp., BofA Securities, Inc., Goldman Sachs
    Bank USA, HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC, in their capacities as joint lead arrangers and joint bookrunners for the credit facility established hereunder.

   

  “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with
    the consent of any party whose consent is 

  

   

  
    
      

    4

  

   required by Section 10.04), and accepted by the Administrative Agent, in the form of Exhibit A hereto or any other form approved by the Administrative Agent.

   

  

  “Availability Period” means the period from and including the Effective Date to but excluding the earlier of
    the Maturity Date and the date of termination of the Commitments.

   

  “Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark for any
    Agreed Currency, as applicable, any tenor for such Benchmark or payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining the length of an Interest Period pursuant to this Agreement
    as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (f) of Section 2.12.

   

  “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable Resolution
    Authority in respect of any liability of an Affected Financial Institution.

   

  “Bail-In Legislation” means (a) with respect to any EEA Member Country
    implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which
    is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law,
    regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency
    proceedings).

   

  “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy”, as now and hereafter in
    effect, or any successor statute.

   

  “Bankruptcy Event” means, with respect to
      any Person, such Person becomes the subject of a voluntary or involuntary bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with
      the reorganization or liquidation of its business publicly appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any
      such proceeding or appointment or has had any order for relief in such proceeding entered into in respect thereof; provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless such
      ownership interest results in or provides such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental
      Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

   

  
    
      

    5

  

  “Benchmark” means, initially, with respect to any Loan denominated in any Agreed Currency, the Relevant Rate
    for such Agreed Currency; provided that if a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred with respect to the applicable Relevant Rate or
    the then-current Benchmark for such Agreed Currency, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) or
    clause (c) of Section 2.12.

   

  “Benchmark Replacement” means, for any Available Tenor, the first alternative set forth in the order below that
    can be determined by the Administrative Agent for the applicable Benchmark Replacement Date; provided that, in the case of any Loan denominated in an Designated Foreign Currency, “Benchmark
    Replacement” shall mean the alternative set forth in clause (3) below:

   

  (1)          in the case of any Loan denominated in Dollars, the sum of:
        (a) Term SOFR and (b) the related Benchmark Replacement Adjustment;

   

  (2)          in the case of any Loan denominated in Dollars, the sum of:
        (a) Daily Simple SOFR and (b) the related Benchmark Replacement Adjustment;

   

  (3)        the sum of: (a) the alternate
        benchmark rate that has been selected by the Administrative Agent and the Company as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or
        recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the
        then-current Benchmark for syndicated credit facilities denominated in the applicable Agreed Currency at such time in the United States and (b) the related Benchmark Replacement Adjustment;

   

  provided that, in the case of clause

      (1), such Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion; provided further that, notwithstanding anything to the contrary in this Agreement or in any other Loan Document, upon the occurrence of a Term SOFR Transition Event,
      and the delivery of a Term SOFR Notice, on the applicable Benchmark Replacement Date the “Benchmark Replacement” shall revert to and shall be deemed to be the sum of (x) Term SOFR and (y) the
      related Benchmark Replacement Adjustment, as set forth in clause (1) of this definition (subject to the first proviso above).

   

  If the Benchmark Replacement as determined pursuant to clause (1), (2) or (3) above would be less than the Floor, the Benchmark Replacement
    will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.

   

  “Benchmark Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an
    Unadjusted Benchmark Replacement 

  

   

  
    
      

    6

  

  for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

   

    

  (1)         for purposes of clauses (1) and
        (2) of the definition of “Benchmark Replacement”, the first alternative set forth in the order below that can be determined by the Administrative Agent:

   

  (a)         the spread adjustment, or method for calculating or
        determining such spread adjustment (which may be a positive or negative value or zero), as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended by the Relevant Governmental
        Body for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for the applicable Corresponding Tenor;

   

  (b)          the spread adjustment (which may be a positive or negative
        value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective upon an index cessation
        event with respect to such Benchmark for the applicable Corresponding Tenor; and

   

  (2)         for purposes of clause (3) of
        the definition of “Benchmark Replacement”, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero), that has been selected by the Administrative Agent and the
        Company for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement
        of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment,
        or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for syndicated credit facilities denominated in the applicable Agreed Currency at such time
        in the United States;

   

  provided that, in the case of clause

      (1) above, such adjustment is displayed on a screen or other information service that publishes such Benchmark Replacement Adjustment from time to time as selected by the Administrative Agent in its reasonable discretion.

   

    “Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of
    “Alternate Base Rate”, the definition of “Business Day”, the definition of “Interest Period”, timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or 

   

  
    
      

    7

  

  continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the
    Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or,
    if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark Replacement exists, in
    such other manner of administration as the Administrative Agent decides with the consent of the Company (not to be unreasonably withheld) is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

   

  “Benchmark Replacement Date” means, with respect to any Benchmark, the earliest to occur of the following
    events with respect to such then-current Benchmark:

   

  (1)         in the case of clause (1) or
        (2) of the definition of “Benchmark Transition Event”, the later of (A) the date of the public statement or publication of information referenced therein and (B) the date on which the
        administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof);

   

  (2)          in the case of clause (3) of
        the definition of “Benchmark Transition Event”, the date of the public statement or publication of information referenced therein;

   

  (3)          in the case of a Term SOFR Transition Event, the date that
        is 30 days after the date a Term SOFR Notice is provided to the Lenders and the Company pursuant to Section 2.12(c); or

   

  (4)          in the case of an Early Opt-In Election, the sixth Business
        Day after the date notice of such Early Opt-In Election is provided to the Lenders, so long as the Administrative Agent has not received, by 5:00 p.m., New York City time, on the fifth Business Day after the date notice of such Early Opt-In
        Election is provided to the Lenders, written notice of objection to such Early Opt-In Election from Lenders comprising the Required Lenders.

   

  For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the
    Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in
    the calculation thereof).

   

  
    
      

    8

  

  “Benchmark Transition Event” means, with respect to any Benchmark, the occurrence of one or more of the
    following events with respect to such then-current Benchmark:

   

  (1)         a public statement or publication of information by or on
        behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof),
        permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such
        Benchmark (or such component thereof);

   

  (2)         a public statement or publication of information by the
        regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the NYFRB, the central bank for the Agreed Currency applicable to such Benchmark, an insolvency
        official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or
        resolution authority over the administrator for such Benchmark (or such component), in each case, which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark
        (or such component thereof) permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any
        Available Tenor of such Benchmark (or such component thereof); or

   

  (3)        a public statement or publication of information by the
        regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer representative.

   

  For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of
    information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).

   

  “Benchmark Unavailability Period” means, with respect to any Benchmark, the period (if any) (a) beginning at the time that a Benchmark Replacement Date pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced such then-current
    Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.12 and (b) ending at the time that a Benchmark Replacement has replaced such then-current Benchmark for all purposes hereunder
    and under any Loan Document in accordance with Section 2.12.

   

  “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.

   

  
    
      

    9

  

  “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of
    ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit
    plan” or “plan”.

   

  “Board” means the Board of Governors of the Federal Reserve System of the United States of America.

   

  “Borrower” means the Company or any Borrowing Subsidiary.

   

  “Borrower Agent” means agents of any Borrower acting in capacity with, or benefitting from, this Agreement or
    the proceeds of any Borrowing.

   

  “Borrowing” means (a) a group of Loans of the same Type, made, converted or continued on the same date and, in
    the case of Eurocurrency Loans, as to which a single Interest Period is in effect and denominated in the same currency or (b) a Swingline Loan.

   

  “Borrowing Minimum” means (a) in the case of a Borrowing denominated in Dollars, US$25,000,000 and (b) in the
    case of a Borrowing denominated in any Designated Foreign Currency, the smallest amount of such Designated Foreign Currency that is a multiple of 1,000,000 units of such currency that has a Dollar Equivalent in excess of US$25,000,000.

   

  “Borrowing Multiple” means (a) in the case of a Borrowing denominated in Dollars, US$5,000,000 and (b) in the
    case of a Borrowing denominated in any Designated Foreign Currency, 1,000,000 units of such currency.

   

  “Borrowing Request” means a request by any Borrower for a Revolving Borrowing in accordance with Section 2.03.

   

  “Borrowing Subsidiary” means, at any time, each wholly-owned Subsidiary of the Company that has been designated
    as a Borrowing Subsidiary by the Company pursuant to Section 2.23 for so long as such Subsidiary has not ceased to be a Borrowing Subsidiary as provided in such Section as of such time.

   

  “Borrowing Subsidiary Agreement” means a Borrowing Subsidiary Agreement substantially in the form of Exhibit
    C-1 or any other form reasonably acceptable to the Administrative Agent.

   

  “Borrowing Subsidiary Termination” means a Borrowing Subsidiary Termination substantially in the form of
    Exhibit C-2 or any other form reasonably acceptable to the Administrative Agent.

   

   “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain
    closed; provided that, (a) when used in connection with a Eurocurrency Loan, and in 

  
    
      

    10

  

  relation to the calculation or computation of LIBOR, the term “Business Day” shall also exclude any day on which banks are not open for business in London, (b) when used
    in connection with a Loan denominated in Euro (including a European Swingline Loan and in relation to the calculation or computation of EURIBOR), the term “Business Day” shall also exclude any day that is not a TARGET day and (c) when used in relation
    to SONIA Loans (including a UK Swingline Loan) or any interest rate settings, fundings, disbursements, settlements or payments of any such SONIA Loan, or any other dealings in the applicable Agreed Currency of such SONIA Loan, the term “Business Day”
    shall also exclude any day that is not an SONIA Business Day.

   

   “Capitalized Lease Obligations” of any Person means the obligations of such Person to pay rent or other
    amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases or finance leases on a balance sheet
    of such Person under GAAP, subject to Section 1.04, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

   

  “Category” means a category of Index Debt Ratings set forth in the table included in the definition of
    Applicable Rate in this Section 1.01.

   

  “CBR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising
    such Borrowing, are bearing interest at a rate determined by reference to the Central Bank Rate.  CBR Loans are only available as a result of the application of Section 2.06 or Section 2.12.

   

  “Central Bank Rate” means, (A) the greater of (i) for any Loan denominated in (a) Sterling, the Bank of England (or any successor thereto)’s “Bank Rate” as published by the Bank of England (or any successor thereto) from time to time, (b) Euro, as selected by the
    Administrative Agent, (x) the fixed rate for the main refinancing operations of the European Central Bank (or any successor thereto), or, if that rate is not published, the minimum bid rate for the main refinancing operations of the European Central
    Bank (or any successor thereto), each as published by the European Central Bank (or any successor thereto) from time to time, (y) the rate for the marginal lending facility of the European Central Bank (or any successor thereto), as published by the
    European Central Bank (or any successor thereto) from time to time or (z) the rate for the deposit facility of the central banking system of the Participating Member States, as published by the European Central Bank (or any successor thereto) from time
    to time and (c) any other Designated Foreign Currency determined after the Effective Date, a central bank rate as determined by the Administrative Agent in its reasonable discretion and (ii) 0.00%; plus (B) the applicable Central Bank Rate Adjustment.

   

  “Central Bank Rate Adjustment” means, the spread adjustment, or method for calculating or determining such
    spread adjustment (which may be a positive or negative value or zero), that has been selected by the Administrative Agent giving due consideration to (i) the historical difference between the Relevant Rate which is now unavailable and the Central Bank
    Rate for the applicable Agreed Currency over the prior twelve month period 

  

   

  
    
      

    11

  

   and/or (ii) any evolving or then-prevailing market convention for determining such spread adjustment, or method for calculating or determining such spread adjustment for
    syndicated credit facilities denominated in the applicable Agreed Currency at such time.

   

  

  “Change in Control” means (a) the acquisition of ownership, directly or indirectly, beneficially or of record,
    by any Person or group (within the meaning of the Securities Exchange Act of 1934, as amended and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof) of shares representing more than 37.5% of the aggregate
    ordinary voting power represented by the issued and outstanding capital stock of the Company, or (b) (i) the Company consolidates with or merges into another corporation (where the Company is not the surviving corporation) or conveys, transfers or
    leases all or substantially all of its properties and assets (determined on a consolidated basis for the Company and the Subsidiaries taken as a whole) to any Person or (ii) any corporation consolidates with or merges into the Company or a Subsidiary
    in a transaction in which the outstanding voting stock of the Company is changed into or exchanged for cash, securities or other property, other than a transaction solely between the Company and a Subsidiary or a transaction involving only stock
    consideration which is permitted under Section 6.04.

   

  “Change in Law” means (a) the adoption of any law, rule or regulation after the Effective Date, (b) any change
    in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Effective Date, or (c) compliance by any Lender (or, for purposes of Section 2.13(b), by any lending office of such Lender or by such
    Lender’s direct or indirect holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the Effective Date; provided
    that (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder, issued in connection therewith or in implementation thereof, and (ii) all requests, rules, guidelines,
    requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel
    III, shall in each case be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented.

   

  “Class”, when used in reference to (a) any Loan or Borrowing, refers to whether such Loan, or the Loans
    comprising such Borrowing, are Revolving Loans or Swingline Loans, and (b) any Commitment, refers to whether such Commitment is a Revolving Commitment or a Swingline Commitment.

   

  “Code” means the Internal Revenue Code of 1986, as amended from time to time.

   

  “Commitment” means a Revolving Commitment or a Swingline Commitment.

   

   “Commitment Letter” means the Commitment Letter dated May 5, 2021, among the Company, JPMorgan Chase Bank, N.A., BNP Paribas, BNP Paribas Securities 

  
    
      

    12

  

  Corp., Bank of America, N.A., BofA Securities, Inc., Goldman Sachs Bank USA, HSBC Bank USA, National Association, HSBC Securities (USA) Inc., Wells Fargo Bank, National
    Association and Wells Fargo Securities, LLC.

   

  “Communications” has the meaning assigned to such term in Section 5.01.

   

  “Company” means HP, Inc., a Delaware corporation.

   

  “Consolidated Current Liabilities” means, on any date, the consolidated current liabilities (other than the
    short-term portion of any long-term Indebtedness of the Company or any Subsidiary) of the Company and the Subsidiaries, as such amounts would appear on a consolidated balance sheet of the Company prepared as of such date in accordance with GAAP.

   

  “Consolidated EBITDA” means, for any period, Consolidated Net Income for such period plus (a) without
    duplication and to the extent deducted in determining such Consolidated Net Income, the sum of (i) consolidated interest expense for such period, (ii) consolidated income tax expense for such period, (iii) all amounts attributable to depreciation and
    amortization for such period, (iv) any extraordinary or non-recurring non-cash charges, including non-cash restructuring charges, for such period (it being understood that non-cash goodwill and intangible asset impairment charges will be deemed to be
    non-recurring non-cash charges); provided, however, that cash expenditures in respect of charges referred to in this
    clause (iv) shall be deducted in determining Consolidated EBITDA for the period during which such expenditures are made, (v) stock-based employee compensation expense, and (vi) losses from sales and dispositions of assets outside the ordinary course of
    business, and minus (b) without duplication and to the extent included in determining such Consolidated Net Income, (i) any extraordinary or non-recurring gains for such period and (ii) gains from sales or dispositions of assets outside the ordinary
    course of business, all determined on a consolidated basis in accordance with GAAP.

   

  “Consolidated Intangible Assets” means, on any date, the consolidated intangible assets of the Company and the
    Subsidiaries, as such amounts would appear on a consolidated balance sheet of the Company prepared in accordance with GAAP.  As used herein, “intangible assets” means the value (net of any applicable reserves) as shown on such balance sheet of (i) all
    patents, patent rights, trademarks, trademark registrations, servicemarks, trade names, business names, brand names, copyrights, designs (and all reissues, divisions, continuations and extensions thereof), or any right to any of the foregoing,
    (ii) goodwill, and (iii) all other intangible assets.

   

  “Consolidated Net Assets” means, on any date, the excess of Consolidated Total Assets over Consolidated Current
    Liabilities.

   

   “Consolidated Net Income” means, for any period, the net income or loss of the Company and the Subsidiaries for such period determined on a consolidated basis in
    accordance with GAAP; provided that there shall be excluded (a) the income of any Person (other than the Company or any Subsidiary) in which any other Person (other than the 

  
    
      

    13

  

  Company or any Subsidiary or any director holding qualifying shares in compliance with applicable law) owns an Equity Interest, except to the extent of the amount of
    dividends or other distributions actually paid to the Company or any of the Subsidiaries during such period and (b) the income or loss of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the Company or
    any Subsidiary or the date that such Person’s assets are acquired by the Company or any Subsidiary.

   

  “Consolidated Net Interest Expense” means, for any period, the excess of (a) the sum of (i) the interest
    expense (including imputed interest expense in respect of Capitalized Lease Obligations) of the Company and the Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, (ii) any interest accrued during such period in
    respect of Indebtedness of the Company or any Subsidiary that is required to be capitalized rather than included in consolidated interest expense for such period in accordance with GAAP, plus (iii) any cash payments made during such period in respect
    of obligations referred to in clause (b)(iii) below that were amortized or accrued in a previous period, minus (b) the sum of (i) interest income of the Company and the Subsidiaries for such period, determined on a consolidated basis in accordance with
    GAAP, (ii) to the extent included in such consolidated interest expense for such period, non-cash amounts attributable to amortization of financing costs paid in a previous period, plus (iii) to the extent included in such consolidated interest expense
    for such period, non-cash amounts attributable to amortization of debt discounts or accrued interest payable in kind for such period.

   

  “Consolidated Net Tangible Assets” means, on any date, the excess of Consolidated Total Assets over the sum of
    (i) Consolidated Current Liabilities and (ii) Consolidated Intangible Assets.

   

  “Consolidated Total Assets” means, on any date, the consolidated total assets of the Company and the
    Subsidiaries, as such amounts would appear on a consolidated balance sheet of the Company prepared as of such date in accordance with GAAP.

   

  “Consolidated Total Debt” means, on any date, the aggregate principal amount on such date of all Indebtedness
    of the Company and its consolidated Subsidiaries (x) of the types referred in clauses (a), (b), (c), (d), (f), (g) and (i) of the definition of such term, and (y) of the types referred to in clauses (e), (f) and (h) of such definition relating to
    Indebtedness of others of the types referred to in clause (a), in each case in the amount that would be reflected as a liability on a balance sheet of the Company and the Subsidiaries prepared as of such date on a consolidated basis in accordance with
    GAAP; provided, however, that for the avoidance of doubt, Consolidated Total Debt shall exclude fair value adjustments under the
    acquisition method of accounting to the book balances of Indebtedness.

   

  “Consolidated Total Revenues” means, for any period, the consolidated total revenues of the Company and the
    Subsidiaries for such period determined on a consolidated basis in accordance with GAAP.

   

  
    
      

    14

  

  “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the
    management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise.  “Controlled” has a meaning correlative thereto.

   

  “Corresponding Tenor” with

    respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding any business day adjustment) as such Available Tenor.

   

  “Credit Party” means the Administrative Agent, each Swingline Lender and each other Lender.

   

  “Daily Simple ESTR” means, for any day (an “ESTR Interest Day”), with respect to any European Swingline Loan denominated in Euros, an interest rate per annum equal to the greater of (a) ESTR for the day that is one Business Day prior to (i) if such ESTR Interest Day is a
    Business Day, such ESTR Interest Day or (ii) if such ESTR Interest Day is not a Business Day, the Business Day immediately preceding such ESTR Interest Day and (b) 0.00%.

   

  “Daily Simple SONIA” means, for any day (an “SONIA
        Interest Day”), an interest rate per annum equal to the greater of (a) with respect to any Loan denominated in Sterling, other than a Swingline Loan, (i) SONIA for the day that is five Business Days prior to
    (A) if such SONIA Interest Day is a Business Day, such SONIA Interest Day or (B) if such SONIA Interest Day is not a Business Day, the Business Day immediately preceding such SONIA Interest Day
    and (ii) 0.00% and (b) with respect to any UK Swingline Loan denominated in Sterling, (i) SONIA for the day that is one Business Day prior to (A) if such SONIA Interest Day is a Business Day, such SONIA Business Day or (B)
    if such SONIA Interest Day is not a Business Day, the Business Day immediately preceding such SONIA Interest Day and (ii) 0.00%.  Any change in Daily Simple SONIA due to a change in the SONIA shall be effective from and including the effective date of
    such change in SONIA without notice to the Company or any Borrower.

   

  “Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which may include a lookback)
    being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for business loans; provided that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable
    discretion and in consultation with the Company.

   

  “Debtor Relief Laws” means the Bankruptcy Code and all other liquidation, conservatorship, bankruptcy,
    assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of
    creditors generally.

   

  
    
      

    15

  

  “Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of
    time or both would, unless cured or waived, become an Event of Default.

   

  “Defaulting Lender” means any Lender that (a) has failed, within two Business Days of the date required to be
    funded or paid, (i) to fund any portion of its Loans, (ii) to fund any portion of its participations in Swingline Loans or (iii) to pay to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above,
    such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified in such writing, including, if applicable, by reference to
    a specific Default) has not been satisfied, (b) has notified the Company or any Credit Party in writing, or has made a public statement, to the effect that it does not intend or expect to comply with any of its funding obligations under this Agreement
    (unless such writing or public statement indicates that such position is based on such Lender’s good-faith determination that a condition precedent (specifically identified in such writing, including, if applicable, by reference to a specific Default)
    to funding a Loan cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after request by a Credit Party made in good faith to provide a certification in writing from an
    authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans and participations in Swingline Loans, provided
    that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such certification in form and substance satisfactory to it and the Administrative Agent or (d) has (i) become the subject of a
    Bankruptcy Event, (ii) had publicly appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the
    Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or (iii) become subject to a Bail-In Action; provided that a Lender shall
    not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or
    provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or
    disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest
    error, and such Lender shall be deemed to be a Defaulting Lender upon delivery of written notice of such determination to the Company, each Swingline Lender and each other Lender.

   

  “Designated Foreign Currency” means (a) Euro and (b) Sterling.

   

  “Diversity and Inclusion Applicable Rate Adjustment Amount” means, with respect to any period between Sustainability Pricing Adjustment Dates, (a) positive 0.025%,
    if the Diversity and Inclusion Rate for such period as set forth in the KPI Metrics Report is less than the Diversity and Inclusion Rate Threshold B for such period, (b) 

  
    
      

    16

  

  0.000%, if the Diversity and Inclusion Rate for such period as set forth in the KPI Metrics Report is less than the Diversity and Inclusion Rate Target B for such period
    but more than or equal to the Diversity and Inclusion Rate Threshold B for such period, and (c) negative 0.025%, if the Diversity and Inclusion Rate for such period as set forth in the KPI Metrics Report is more than or equal to Diversity and Inclusion
    Rate Target B for such period.

   

  “Diversity and Inclusion Commitment Fee Adjustment Amount” means, with respect to any period between
    Sustainability Pricing Adjustment Dates, (a) positive 0.005%, if the Diversity and Inclusion Rate for such period as set forth in the KPI Metrics Report is less than the Diversity and Inclusion Rate Threshold B for such period, (b) 0.000%, if the
    Diversity and Inclusion Rate for such period as set forth in the KPI Metrics Report is less than the Diversity and Inclusion Rate Target B for such period but more than or equal to the Diversity and Inclusion Rate Threshold B for such period, and (c)
    negative 0.005%, if the Diversity and Inclusion Rate for such period as set forth in the KPI Metrics Report is more than or equal to the Diversity and Inclusion Rate Target B for such period.

   

  “Diversity and Inclusion Rate” means, with respect to any fiscal year, beginning with the fiscal year ended
    October 31, 2021, the percentage of Black and African Americans among US-Based Executives at the Company.

   

  “Diversity and Inclusion Rate Target B” means, with respect to any calendar year, the Diversity and Inclusion
    Rate Target B for such fiscal year as set forth in the Sustainability Table.

   

   “Diversity and Inclusion Rate Threshold B” means, with respect to any calendar year, the Diversity and
    Inclusion Rate Threshold B for such fiscal year as set forth in the Sustainability Table.

   

  “Dollar Equivalent” means, for any amount, at the time of determination thereof, (a)

    if such amount is expressed in Dollars, such amount, (b) if such amount is expressed in an Designated Foreign Currency, the equivalent of such amount in Dollars determined by using the rate of exchange for the purchase of
    Dollars with the Designated Foreign Currency last provided (either by publication or otherwise provided to the Administrative Agent) by Reuters on the Business Day (New York City time) immediately preceding the date of determination or if such service
    ceases to be available or ceases to provide a rate of exchange for the purchase of Dollars with the Designated Foreign Currency, as provided by such other publicly available information service which provides that rate of exchange at such time in place
    of Reuters chosen by the Administrative Agent in its sole discretion (or if such service ceases to be available or ceases to provide such rate of exchange, the equivalent of such amount in dollars as determined by the Administrative Agent using any
    method of determination it deems appropriate in its reasonable discretion) and (c) if such amount is denominated in any other currency, the equivalent of such amount in dollars as determined by the Administrative Agent
    using any method of determination it deems appropriate in its sole discretion.

   

  “Dollars”, “US$” or “$” refers to lawful money of the United States of America.

   

  
    
      

    17

  

  “Early Opt-In Election” means, if the then current Benchmark with respect to Dollars is the LIBO Rate, the
    occurrence of:

   

  (1)         a notification by the Administrative Agent to (or the
        request by the Company to the Administrative Agent to notify) each of the other parties hereto that at least five currently outstanding Dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or as originally
        executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and

   

  (2)          the joint election by the Administrative Agent and the
        Company to trigger a fallback from the LIBO Rate and the provision, as applicable, by the Administrative Agent of written notice of such election to the Company and the Lenders.

   

  “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member
    Country that is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country that is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established
    in an EEA Member Country that is a subsidiary of an institution described in clause (a) or (b) of this definition and is subject to consolidated supervision with its parent.

   

  “EEA Member Country” means any member state of the European Union, Iceland, Liechtenstein and Norway.

   

  “EEA Resolution Authority” means any public administrative authority or any person entrusted with public
    administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

   

  “Effective Date” the date on which the conditions specified in Section 4.01 are satisfied (or waived in
    accordance with Section 10.02).

   

  “Electronic Signature” means an electronic sound, symbol or process attached to, or associated with, a contract
    or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.

   

  “EMU Legislation” means the legislative measures of the European Union for the introduction of, changeover to
    or operation of the Euro in one or more member states.

   

  “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments,
    injunctions, or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to (i) the environment, (ii) preservation or reclamation of natural resources, (iii) the generation, use, handling,
    transportation, storage, treatment, disposal, release or threatened release of any Hazardous Material, or (iv) to the extent related to exposure to, or to the sale, distribution or marketing of products containing, Hazardous Material, health and safety
    matters.

   

  
    
      

    18

  

  “Environmental Liability” means any liability, contingent or otherwise (including any liability for damages,
    costs of environmental remediation, fines, penalties or indemnities), directly or indirectly resulting from or based upon (a) the violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of
    any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment, or (e) any contract, agreement or other consensual arrangement pursuant to which liability is
    assumed or imposed with respect to any of the foregoing.

   

  “Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited
    liability company, beneficial interests in a trust or other equity interests in any Person, or any obligations convertible into or exchangeable for, or giving any Person a right, option or warrant to acquire such equity interests or such convertible or
    exchangeable obligations.

   

  “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time and the rules
    and regulations promulgated thereunder.

   

  “ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with the Company, is
    treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code.

   

  “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued
    thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived), (b) the existence with respect to any Plan of an “accumulated funding deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA),
    whether or not waived, (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, (d) the incurrence by the Company or any of its ERISA
    Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan, (e) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or
    Plans or to appoint a trustee to administer any Plan, (f) the incurrence by the Company or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan, (g) the receipt by the
    Company or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Company or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is
    expected to be, insolvent, within the meaning of Title IV of ERISA, (h) the occurrence of a “prohibited transaction” with respect to which the Company or any of the Subsidiaries is a “disqualified person” (within the meaning of Section 4975 of the
    Code) or with respect to which the Company or any such Subsidiary could otherwise be liable or (i) any other event or condition with respect to a Plan or Multiemployer Plan that could result in liability of the Company or any Subsidiary under Title IV
    of ERISA.

   

  
    
      

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  “ESTR” means, with respect to any Business Day, a rate per annum equal to the Euro Short Term Rate for such
    Business Day published by the ESTR Administrator on the ESTR Administrator’s Website.

   

  “ESTR Administrator” means the European Central Bank (or any successor administrator of the Euro Short Term
    Rate).

   

  “ESTR Administrator’s Website” means the European Central Bank’s website, currently at
    http://www.ecb.europa.eu, or any successor source for the Euro Short Term Rate identified as such by the ESTR Administrator from time to time.

   

  “ESTR Interest Day” has the meaning assigned to such term in the definition of “Daily Simple ESTR”.

   

  “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market
    Association (or any successor person), as in effect from time to time.

   

  “EURIBOR Interpolated Rate” means, at any time, with respect to any Eurocurrency Borrowing denominated in Euros
    and for any Interest Period, the rate per annum (rounded to the same number of decimal places as the EURIBOR Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to
    the rate that results from interpolating on a linear basis between: (a) the EURIBOR Screen Rate for the longest period (for which the EURIBOR Screen Rate is available for Euros) that is shorter than the Impacted EURIBOR
    Rate Interest Period; and (b) the EURIBOR Screen Rate for the shortest period (for which the EURIBOR Screen Rate is available for Euros) that is longer than the Impacted EURIBOR Rate Interest Period, in each case, at such
    time; provided that, if any EURIBOR Interpolated Rate shall be less than 0.00%, such rate shall be deemed to be 0.00% for the purposes of this Agreement.

   

  “EURIBOR Rate” means, with respect to any Eurocurrency Borrowing denominated in Euros and for any Interest
    Period, the EURIBOR Screen Rate at approximately 11:00 a.m., Brussels time, two TARGET Days prior to the commencement of such Interest Period; provided that, if the EURIBOR Screen Rate shall not be available at such time for such Interest Period (an “Impacted EURIBOR Rate Interest Period”) with respect to Euros then the EURIBOR Rate shall be the EURIBOR Interpolated Rate.

   

  “EURIBOR Screen Rate” means the euro interbank offered rate administered by the European Money Markets
    Institute (or any other person which takes over the administration of that rate) for the relevant period displayed (before any correction, recalculation or republication by the administrator) on page EURIBOR01 of the Thomson Reuters screen (or any
    replacement Thomson Reuters page which displays that rate) or on the appropriate page of such other information service which publishes that rate from time to time in place of Thomson Reuters as of 11:00 a.m. Brussels time two TARGET Days prior to the
    commencement of such Interest Period.  If such page or service ceases to be available, the Administrative Agent may specify another page or service 

  

   

  
    
      

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   displaying the relevant rate after consultation with the Company.  If the EURIBOR Screen Rate shall be less than 0.00%, the EURIBOR Screen Rate shall be deemed to be
    0.00% for purposes of this Agreement.

   

  

  “Euro” or “€” means the single currency of the
    Participating Member States.

   

  “Eurocurrency”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
    comprising such Borrowing, bear interest at a rate determined by reference to the Adjusted LIBO Rate, the LIBO Rate, the Adjusted EURIBOR Rate or the EURIBOR Rate (but no ABR Loan, ABR Borrowing, SONIA Loan or SONIA Borrowing will in any event be
    deemed to be a Eurocurrency Loan or Eurocurrency Borrowing hereunder).

   

  “European Swingline Loan” means a Swingline Loan denominated in Euro.

   

  “Event of Default” has the meaning assigned to such term in Article VII.

   

  “Exchange Rate” means on any day, for purposes of determining the Dollar Equivalent of any other currency, the
    rate at which such other currency may be exchanged into Dollars, as set forth at approximately 11:00 a.m., London time, on such day on the Reuters World Currency Page for such currency, or any successor or substitute screen provided by Reuters.  In the
    event that such rate does not appear on any Reuters World Currency Page or any successor or substitute screen provided by Reuters or its successors, the Exchange Rate shall be determined by reference to such other publicly available service for
    displaying exchange rates as may be agreed upon by the Administrative Agent and the Company.

   

  “Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be
    withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated) and franchise Taxes, in each case imposed by the jurisdiction under the laws of which such Recipient is organized or in which its
    principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) Other Connection Taxes, (c) any branch profits Taxes imposed by the United States of America or any similar Tax imposed by any other
    jurisdiction described in clause (a) above, (d) any Taxes, including withholding taxes, imposed under FATCA, (e) in the case of a Lender, any U.S. federal withholding Tax resulting from any laws in effect and that would apply to amounts payable to such
    Lender with respect to an applicable interest in a Loan or Commitment at the time such Lender acquired such interest in the Loan or Commitment (other than pursuant to an assignment request by any Borrower under Section 2.17(b)) or designates a new
    lending office, except to the extent that such Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from such Borrower with respect to such withholding Taxes
    pursuant to Section 2.15(a), and (f) any Taxes attributable to such Recipient’s failure to comply with Section 2.15(g).

   

  “Existing 364-Day Credit Agreement” means the 364-Day Credit Agreement dated as of May 29, 2020 (as amended,
    restated, supplemented or modified 

  

   

  
    
      

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    from time to time), among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.

     

    

    “Existing Five-Year Credit Agreement” means the Second Amended and Restated Five-Year Credit Agreement dated
      as of March 30, 2018 (as amended, restated, supplemented or modified from time to time), among the Company, the lenders party thereto, Citibank, N.A., as administrative processing agent and co-administrative agent and JPMorgan Chase Bank, N.A., as
      co-administrative agent.

  

   

  

  “Existing Maturity Date” has the meaning assigned to such term in Section 2.20(a).

   

  “Extension Effective Date” has the meaning assigned to such term in Section 2.20(a).

   

  “Extension Notice” has the meaning assigned to such term in Section 2.20(a).

   

  “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or
    successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, as such
    Code section exists as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any applicable intergovernmental agreements with respect thereto and any fiscal
    or regulatory legislation, rules or practices adopted pursuant to any of the foregoing (including any intergovernmental agreement, treaty or convention among Governmental Authorities).

   

  “FCA” has the meaning assigned to such term in Section 1.06.

   

  “Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal
    funds transactions by depository institutions as determined in such manner as shall be set forth on the NYFRB’s Website from time to time and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate; provided that if such rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement.

   

  “Financial Officer” means, with respect to any Person, the chief financial officer, principal accounting
    officer, treasurer or controller of such Person (or in the case of a Borrowing Subsidiary, a person acting in a similar role with respect to such Borrowing Subsidiary).

   

  “Fitch” means Fitch Ratings, Inc., or any successor to its rating agency business.

   

  “Floor” means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of
    this Agreement, the modification, amendment or renewal 

  

   

  
    
      

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  of this Agreement or otherwise) with respect to the LIBO Rate, the EURIBOR Rate or the Daily Simple SONIA, as applicable.

   

  

  “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which
    the relevant Borrower is located.  For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.

   

  “Foreign Subsidiary” means any Subsidiary that is organized under the laws of a jurisdiction other than the
    United States of America or any state thereof or the District of Columbia.

   

  “GAAP” means generally accepted accounting principles in the United States of America.

   

  “GHG Baseline” has the meaning specified in the definition of “GHG Reduction”.

   

  “GHG Emissions” means the Scope 1 and 2 Greenhouse Gas emissions from the Company’s global operations.

   

  “GHG Impacting Transaction” means any acquisition, disposition, merger or similar transaction consummated by
    the Company whereby, as of the result of the consummation of such transaction, the Company’s absolute GHG Emissions would reasonably be expected to be increased or decreased by 5% or more as compared to the Company’s absolute GHG Emissions immediately
    prior to the consummation of such transaction, as determined in good faith by the Company.

   

  “GHG Reduction” means, with respect to any fiscal year, beginning with the fiscal year ended October 31, 2021,
    the percentage reduction of the Company’s absolute GHG Emissions, as compared to the Company’s absolute GHG Emissions for the 2015 fiscal year (such amount the “GHG Baseline”); provided that if Company consummates any GHG Impacting Transaction, then prior to the delivery of the Pricing Certificate for the fiscal year in which such GHG Impacting Transaction was
    consummated, the GHG Baseline shall be recalculated in accordance with the guidance set forth in the World Resources Institute / World Business Counsel for Sustainable Development’s Greenhouse Gas Protocol and the resulting amount of absolute GHG
    Emissions from such recalculation shall be applied as the GHG Baseline for such fiscal year and for each subsequent fiscal year thereafter.

   

  “GHG Reduction Applicable Rate Adjustment Amount” means, with respect to any period between Sustainability
    Pricing Adjustment Dates, (a) positive 0.025%, if the GHG Reduction for such period as set forth in the KPI Metrics Report is less than the GHG Reduction Threshold A for such period, (b) 0.000%, if the GHG Reduction for such period as set forth in the
    KPI Metrics Report is less than the GHG Reduction Target A for such period but more than or equal to the GHG Reduction Threshold A for such period, and (c) negative 0.025%, if the GHG Reduction for such 

  

   

  
    
      

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  period as set forth in the KPI Metrics Report is more than or equal to GHG Reduction Target A for such period.

   

  

  “GHG Reduction Commitment Fee Adjustment Amount” means, with respect to any period between Sustainability
    Pricing Adjustment Dates, (a) positive 0.005%, if the GHG Reduction for such period as set forth in the KPI Metrics Report is less than the GHG Reduction Threshold A for such period, (b) 0.000%, if the GHG Reduction for such period as set forth in the
    KPI Metrics Report is less than the GHG Reduction Target A for such period but more than or equal to the GHG Reduction Threshold A for such period, and (c) negative 0.005%, if the GHG Reduction for such period as set forth in the KPI Metrics Report is
    more than or equal to the GHG Reduction Target A for such period.

   

   “GHG Reduction Target A” means, with respect to any fiscal year, the GHG Reduction Target A for such fiscal
    year as set forth in the Sustainability Table.

   

  “GHG Reduction Threshold A” means, with respect to any fiscal year, the GHG Reduction Threshold A for such
    fiscal year as set forth in the Sustainability Table.

   

  “Governmental Authority” means the government of the United States of America, any other nation or any
    political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
    functions of or pertaining to government (including any supra-national body exercising such powers or functions, such as the European Union or the European Central Bank).

   

  “Guaranteed Obligation” has the meaning specified in Article
        IX.

   

  “Guarantee” of or by any Person (the “guarantor”)
    means any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”)

    in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase
    (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof,
    (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (d) as an account party in respect of
    any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided that the term “Guarantee” shall not include endorsements for collection or deposit in
    the ordinary course of business.

   

  “Hazardous Materials” means all explosive, radioactive, hazardous, or toxic substances, wastes or materials,
    including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes, and all other substances or wastes regulated pursuant to any Environmental Law.

   

  
    
      

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  “Hedging Agreement” means any interest rate protection agreement, foreign currency exchange agreement,
    commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement.

   

  “IBA” has the meaning assigned to such term in Section 1.06.

   

  “Incremental Facility Amendment” means an Incremental Facility Amendment, in form and substance reasonably
    satisfactory to the Administrative Agent, among the Company, the Administrative Agent and one or more Incremental Lenders, establishing Incremental Revolving Commitments as are contemplated by Section 2.19.

   

  “Incremental Lender” means a Lender with an Incremental Revolving Commitment.

   

  “Incremental Revolving Commitment” means, with respect to any Lender, the commitment, if any, of such Lender,
      established pursuant to an Incremental Facility Amendment and Section 2.19, to make Revolving Loans and to acquire participations in Swingline Loans hereunder, expressed as an amount representing the maximum aggregate permitted amount of such
      Lender’s Revolving Exposure under such Incremental Facility Amendment.

   

  “Incremental Revolving Facility” means an incremental portion of the Revolving Commitments established
    hereunder pursuant to an Incremental Facility Amendment providing for Incremental Revolving Commitments.

   

  “Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money,
    (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (d) all
    obligations of such Person in respect of the deferred purchase price of property or services (excluding (i) trade or account payables arising in the ordinary course of business, (ii) earn-out obligations, and (iii) customary post-closing purchase price
    adjustments (in the case  of clauses (ii) and (iii) until such obligation (A) becomes fixed and determined and (B) has not been paid within 60 days after becoming due and payable)), (e) all Indebtedness of others secured by (or for which the holder of
    such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed (but if such Indebtedness has not been assumed
    by and is otherwise non-recourse to such Person, only to the extent of the lesser of the fair market value of the property subject to such Lien and the amount of such Indebtedness), (f) all Guarantees by such Person of Indebtedness of others (except to
    the extent that such Guarantees guarantee Indebtedness or other obligations of a Subsidiary), (g) all Capitalized Lease Obligations of such Person, (h) all obligations, contingent or otherwise, of such Person as an account party in respect of letters
    of credit and letters of guaranty, and (i) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances.  The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in
    which such Person is a general partner) to the extent such 

  

   

  
    
      

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  Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness
    provide that such Person is not liable therefor.

   

  

  “Indemnified Taxes” means Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by
    or on account of any obligation of the Company under any Loan Document.

   

  “Index Debt” means senior unsecured long-term indebtedness for borrowed money of the Company that is not
    guaranteed by any other Person or subject to any other credit enhancement.

   

  “Information” has the meaning assigned to such term in Section 10.12.

   

  “Interest Election Request” means a request by a Borrower to convert or continue a Revolving Borrowing in
    accordance with Section 2.06.

   

  “Interest Payment Date” means (a) with respect to any ABR Loan and with respect to any Swingline Loan, the last
    day of each March, June, September and December and the Maturity Date, (b) with respect to any SONIA Loan, each date that is on the numerically corresponding day in each calendar month that is one month after the Borrowing of which such Loan is a part
    (or, if there is no such numerically corresponding day in such month, then the last day of such month), and for purposes of this clause (b), the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the
    effective date of the most recent conversion or continuation of such Borrowing and the Maturity Date and (c) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the
    case of a Eurocurrency Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period and the
    Maturity Date.

   

  “Interest Period” means, with respect to any Eurocurrency Borrowing, the period commencing on the date of such
    Borrowing and ending on the numerically corresponding day in the calendar month that is one, three or six months thereafter (in each case, subject to the availability for the Benchmark applicable to the relevant Loan or Commitment for any Agreed
    Currency), as the applicable Borrower may elect; provided that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next
    succeeding Business Day unless, in the case of an Interest Period of one, three or six months, such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day,
    (ii) any Interest Period of one, three or six months pertaining to a Eurocurrency Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such
    Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii) no tenor that has been removed from this definition pursuant to Section 2.12(f) shall be available for specification in any Borrowing
    Request or Interest Election Request.  For purposes hereof, the date of a Borrowing initially shall be the date 

  

   

  
    
      

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   on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.

   

  

  “ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives
    Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and Derivatives Association, Inc. or
    such successor thereto.

   

  “Judgment Currency” has the meaning assigned to such term in Section 10.15(b).

   

  “KPI Metric” means each of the GHG Reduction and the Diversity and Inclusion Rate.

   

  “KPI Metrics Auditor” means Ernst & Young LLP, or any replacement auditor thereof as designated from time
    to time by the Company; provided that any such replacement KPI Metrics Auditor shall be (a) a nationally recognized auditing firm or (b) another auditing firm designated by the Company and
    identified to the Lenders, so long as Lenders constituting the Required Lenders do not object to such designation pursuant to this clause (b) within five Business Days after notice thereof.

   

  “KPI Metrics Report” means an annual report (it being understood that this annual report may take the form of
    the annual Sustainability Report) that sets forth the calculations and computations for each KPI Metric for a specific fiscal year and is audited by the KPI Metrics Auditor with respect to the calculations and computations of the GHG Reduction.

   

  “Lender Parent” means, with respect to any Lender, any Person as to which such Lender is, directly or
    indirectly, a subsidiary.

   

  “Lender-Related Person” has the meaning assigned to it in Section 10.03(b).

   

  “Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto
    pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.  Unless the context requires otherwise, the term “Lenders” includes the Swingline Lenders.

   

  “Liaibilities” means as losses, claims (including intraparty claims), demands, damages or liabilities of any
    kind.

   

  “LIBO Interpolated Rate” means, at any time, with respect to any Eurocurrency Borrowing denominated in Dollars
    and for any Interest Period, the rate per annum (rounded to the same number of decimal places as the LIBO Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the
    rate that results from interpolating on a linear basis between: (a) the LIBO Screen Rate for the longest period (for which the LIBO 

   

  
    
      

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   Screen Rate is available for the applicable Agreed Currency) that is shorter than the Impacted LIBO Rate Interest Period; and (b) the LIBO
    Screen Rate for the shortest period (for which the LIBO Screen Rate is available for the applicable Agreed Currency) that is longer than the Impacted LIBO Rate Interest Period, in each case, at such time; provided that if any LIBO Interpolated Rate
    shall be less than 0.00%, such rate shall be deemed to be 0.00% for the purposes of this Agreement.

   

  

  “LIBO Rate” means, with respect to any Eurocurrency Borrowing denominated in Dollars for any Interest Period,
    the LIBO Screen Rate at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that if the LIBO Screen Rate shall not be
    available at such time for such Interest Period (an “Impacted LIBO Rate Interest Period”), then the LIBO Rate for such Interest Period shall be the LIBO Interpolated Rate as of such time.

   

  “LIBO Screen Rate” means a rate per annum equal to the London interbank offered rate as administered by the ICE
    Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in US Dollars for the applicable period, as displayed on the Reuters screen page that displays such rate (currently Reuters Screen Page LIBOR01
    or LIBOR02) (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its
    reasonable discretion); provided that if the LIBO Screen Rate, determined as provided above, would be less than 0.00%, then the LIBO Screen Rate shall be deemed to be 0.00% for all purposes.

   

  “LIBOR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising
    such Borrowing, are bearing interest at a rate determined by reference to the LIBO Rate.

   

  “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation,
    encumbrance, charge or security interest in, on or of such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, Capitalized Lease or title retention agreement (or any financing lease having substantially the same
    economic effect as any of the foregoing but excluding any operating leases) relating to such asset.

   

  “Loan Documents” means this Agreement, including without limitation, schedules and exhibits hereto) and any
    agreements entered into by any Borrower with or in favor of the Administrative Agent and/or the Lenders in connection with this Agreement, including any promissory notes delivered pursuant to Section 2.08(e) and any amendments, modifications or
    supplements thereto or waivers thereof.

   

  “Loans” means the loans made by the Lenders to any Borrower pursuant to this Agreement.

   

  
    
      

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  “Local Time” means (a) with respect to a Loan or Borrowing denominated in Dollars, New York City time, and
    (b) with respect to a Loan or Borrowing denominated in any Designated Foreign Currency, London time.

   

  “Margin Stock” means “margin stock” as defined in Regulation U.

   

  “Material Adverse Effect” means a material adverse effect on (a) the actual business, assets, operations and
    financial condition of the Company and the Subsidiaries, taken as a whole, (b) the ability of the Company or any Borrowing Subsidiary to perform any of its material obligations under this Agreement, or (c) the rights of or benefits available to the
    Lenders under this Agreement.

   

  “Material Indebtedness” means Indebtedness (other than the Loans), or obligations in respect of one or more
    Hedging Agreements, of any one or more of the Company and the Subsidiaries in an aggregate principal amount exceeding $350,000,000.  For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Company or any
    Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Company or such Subsidiary would be required to pay if such Hedging Agreement were terminated at such
    time.

   

  “Material Subsidiary” means each Significant Subsidiary and any two or more Subsidiaries (which may but need
    not include a Significant Subsidiary) each of which has become the subject of any event or circumstance referred to in clause (h), (i) or (j) of Article VII, and which, if considered together as a single consolidated Subsidiary, would collectively
    constitute a “Significant Subsidiary” within the meaning of the definition of such term herein.

   

  “Maturity Date” means the fifth anniversary of the Effective Date, as such date may be extended pursuant to
    Section 2.20 hereof; provided that, if such date is not a Business Day, the Maturity Date shall be the immediately preceding Business Day.

   

  “Moody’s” means Moody’s Investors Service, Inc., or any successor thereto.

   

  “Multicurrency Swingline Loan” means a European Swingline Loan or a UK Swingline Loan.

   

  “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

   

  “NYFRB” means the Federal Reserve Bank of New York.

   

  “NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and
    (b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if none of such rates are
    published for any day that is a Business Day, the term “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 a.m., 

   

  
    
      

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   New York City time, on such day received by the Administrative Agent from a federal funds broker of recognized standing selected by it; provided further that the NYFRB Rate shall in no event be less than 0.00%.

   

  

  “NYFRB’s Website” means the website of the NYFRB at http://www.newyorkfed.org, or any successor source.

   

  “Obligations” means (a) the principal of and premium, if any, and interest (including interest accruing during
    the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans and (b) all other monetary obligations, including fees, costs, expenses and indemnities,
    whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such
    proceeding), of any Borrower under this Agreement and the other Loan Documents.

   

  “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former
    connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected
    a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

   

  “Other Taxes” means any and all present or future recording, stamp, court or documentary, intangible, filing or
    similar Taxes, charges or levies arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed
    with respect to the sale of a participation interest or an assignment (other than an assignment made pursuant to Section 2.17(b)).

   

  “Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and
    overnight Eurocurrency borrowings denominated in US Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB’s Website from time to time, and published on the
    next succeeding business day as an Overnight Bank Funding Rate; provided that such rate shall in no event be less than 0.00%.

   

  “Overnight Rate” means, for any day, (a) with respect to any amount denominated in Dollars, the NYFRB Rate and
    (b) with respect to any amount denominated in an Designated Foreign Currency, an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

   

  “Participant” has the meaning assigned to such term in Section 10.04(e).

   

  “Participant Register” has the meaning assigned to such term in Section 10.04(e).

   

  
    
      

    30

  

  “Participating Member State” means any member state of the European Union that has the Euro as its lawful
    currency in accordance with legislation of the European Union relating to Economic and Monetary Union.

   

  “Patriot Act” has the meaning assigned to such term in Section 10.14.

   

  “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity
    performing similar functions.

   

  “Permitted Encumbrances” means

   

    
    (i) Liens imposed by law for Taxes that are
        not yet due or are being contested in compliance with Section 5.04,

     

    (ii) carriers’, warehousemen’s, mechanics’,
        materialmen’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in compliance with Section 5.04,

     

    (iii) pledges and deposits made in the
        ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations,

     

    (iv) margin deposits posted to secure
        obligations in respect of Hedging Agreements entered into in the ordinary course of business;

     

    (v) pledges and deposits to secure the
        performance of bids, trade and commercial contracts (including ordinary course accounts payable), leases, statutory obligations, appeal bonds and other obligations of a like nature, in each case in the ordinary course of business,

     

    (vi) pledges and deposits securing obligations
        under surety and performance bonds,

     

    (vii) judgment liens (and pledges and deposits
        securing surety and appeal bonds) in respect of judgments that do not constitute an Event of Default under clause (k) of Article VII,

     

    (viii) easements, zoning restrictions,
        rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the
        Company or any Subsidiary,

     

    (ix) Liens under ordinary course commercial
        contracts securing trade payables covering the goods purchased (and proceeds and products thereof), pending payment;

     

    
      
        

      31

    

    (x)  (i) customary Liens (x) relating to the
        establishment of custody, depository, brokerage and clearing accounts and services and other cash management relationships in the ordinary course of business of the Company or any Subsidiary or (y) relating to pooled deposit or sweep accounts
        (including, without limitation, Liens on deposit accounts subject to cash pooling arrangements in favor of the financial institutions providing such cash pooling arrangements) of the Company or any Subsidiary to permit satisfaction of overdraft or
        similar obligations incurred in the ordinary course of business of the Company and the Subsidiaries and (ii) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, bankers’ rights of set-off or similar
        rights;

     

  

  provided that the term “Permitted Encumbrances” shall not
      include any Lien securing Indebtedness for borrowed money.

   

  “Person” means any natural person, corporation, limited liability company, trust, joint venture, association,
    company, partnership, Governmental Authority or other entity.

   

  “Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of
    Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Company or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in
    Section 3(5) of ERISA.

   

  “Platform” has the meaning assigned to such term in Section 5.01(e).

   

  “Pricing Certificate” means a certificate substantially in the form of Exhibit E executed by a Financial
    Officer of the Company and attaching (a) true and correct copies of the KPI Metrics Report for the most recently ended fiscal year and setting forth the Sustainability Rate Adjustment and the Sustainability Fee Adjustment for the period covered thereby
    and computations in reasonable detail in respect thereof and (b) to the extent not already included in the KPI Metrics Report, a review report of the KPI Metrics Auditor confirming that, with respect to the computations of the GHG Reduction, the KPI
    Metrics Auditor is not aware of any material modifications that should be made to such computations in order for them to be presented in all material respects in conformity with the applicable reporting criteria.

   

  “Prime Rate” means the rate of interest last quoted by The Wall Street Journal as the “prime rate” in the United States or, if The Wall Street Journal ceases to quote such rate, the highest per annum
    interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined
    by the Administrative Agent in its reasonable discretion) or any similar release by the Federal Reserve Board (as determined by the Administrative Agent in its reasonable discretion).  Each change in the Prime Rate shall be effective from and including
    the date such change is publicly announced or quoted as being effective.

   

  
    
      

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  “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such
    exemption may be amended from time to time.

   

  “Public-Sider” means a Lender or any representative of such Lender that does not want to receive material
    non-public information within the meaning of the federal and state securities laws.

   

  “Qualified Receivables Transaction” means any transaction or arrangement or series of transactions or
    arrangements entered into by the Company or any of its Subsidiaries in order to monetize or otherwise finance, or as a result of which it may receive earlier than otherwise due amounts that will become receivable or be earned in the future in respect
    of, a discrete pool (which may be fixed or revolving) of accounts receivable, leases or other financial assets including financing contracts (together with related assets) and any transaction or arrangement that is not a sale or transfer but pursuant
    to and by virtue of which a Person succeeds to, and becomes entitled to, the rights under or in respect of such accounts receivable, leases or other financial assets (in each case whether now existing or arising in the future), and which may include a
    Lien on (a) accounts receivable, leases or other financial assets including financing contracts (together with related assets), (b) deposit or other accounts (and the funds or investments from time to time credited thereto) established in connection
    with a Qualified Receivables Transaction to secure obligations of the Company or any Subsidiary arising in connection with or otherwise related to such transaction, (c) any promissory note issued by the Company or any Subsidiary evidencing the
    repayment of amounts directly or indirectly distributed to the Company or any Subsidiary from any such accounts and (d) any assets of or Equity Interests in each and any Receivables SPE used to facilitate such transaction.

   

  “Ratings” means, as of any date of determination, the Index Debt ratings of the Company that have been most
    recently assigned by S&P, Moody’s or Fitch.  For purposes of the foregoing, (a) if any of S&P, Moody’s or Fitch shall not have in effect a Rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of
    this definition), then such rating agency shall be deemed to have established a Rating in Category 5 under the definition of the term Applicable Rate, (b) if the Ratings established or deemed to have been established by S&P, Moody’s and Fitch for
    the Index Debt shall fall within different Categories, (i) if two of the Ratings fall within the same Category and the other Rating is one Category higher or one Category lower than the two same Ratings, the Applicable Rate shall be based on the two
    Ratings within the same Category, (ii) if two of the Ratings fall within the same Category and the other Rating is two or more Categories above the two same Ratings, the Applicable Rate shall be determined by reference to the Category next above that
    of the two same Ratings, (iii) if two of the Ratings are in the same Category and the other Rating is two or more Categories below the two same Ratings, the Applicable Rate shall be determined by reference to the Category next below that of the two
    same Ratings, and (iv) if each of the three Ratings fall within different Categories, then the Applicable Rate shall be based on the assigned Rating that is in between the highest and the lowest of such Ratings, and (c) if the Ratings established or deemed to have been established by S&P, Moody’s and Fitch for the Index Debt shall be changed (other than as a result of a change in the rating system of S&P, Moody’s or
    Fitch), such change shall be effective as of the date on which it is first 

  

   

  
    
      

    33

  

   announced by the applicable rating agency.  Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on
    the date immediately preceding the effective date of the next such change.  If the rating system of S&P, Moody’s or Fitch shall change, if any such rating agency shall cease to be in the business of rating corporate debt obligations or if any such
    rating agency shall cease to rate any Index Debt of the Company (and such decision is not based directly or indirectly on any action taken by the Company, or the failure by the Company to take any action, in each case with respect to such rating agency
    or otherwise), the Company and the Lenders shall negotiate in good faith to amend the definition of Applicable Rate to reflect such changed rating system or the unavailability of Ratings from such rating agency and, pending the effectiveness of any
    such amendment, the Applicable Rate shall be determined by reference to the Rating most recently in effect prior to such change or cessation.

   

  

  “Receivables SPE” means a Subsidiary (or any other Person in which the Company or any Subsidiary makes an
    investment) that is a special purpose entity that (a) borrows against accounts receivable (and, as applicable, other assets included in a Qualified Receivables Transaction) or purchases, leases or otherwise acquires accounts receivable (and, as
    applicable, such other assets) or sells, disposes, assigns, leases, conveys or otherwise transfers accounts receivable (and, as applicable, such other assets) to one or more third party purchasers or another Receivables SPE in connection with a
    Qualified Receivables Transaction or (b) engages in other activities that are necessary or desirable to effectuate the activities described in the definitions of Qualified Receivables Transaction or Supply Chain Transaction, or (c) is established or
    then used solely for the purpose of, and has no business other than, owning a Receivables SPE, servicing accounts receivable (and other applicable assets) owned by a Receivables SPE, owning or holding title to the property or assets giving rise to such
    accounts receivable (and other applicable assets) or any activities incidental thereto (including those described in the definitions of Qualified Receivables Transaction or Supply Chain Transaction).

   

  “Recipient” means (a) the Administrative Agent, and (b) any Lender, as applicable.

   

  “Reference Time” with respect to any setting of the then-current Benchmark means (a) if such Benchmark is the
    LIBO Rate, 11:00 a.m., London time, on the day that is two London banking days preceding the date of such setting, (b) if such Benchmark is the EURIBOR Rate, 11:00 a.m., Brussels time, two TARGET Days preceding the date of such setting, (c) if such
    Benchmark is Daily Simple SONIA, then four Business Days prior to such setting and (d) if such Benchmark is none of the LIBO Rate, the EURIBOR Rate, or Daily Simple SONIA, the time determined by the Administrative Agent in its reasonable discretion.

   

  “Register” has the meaning set forth in Section 10.04(c).

   

  “Regulation D” means Regulation D of the Board from time to time in effect and all official rulings and
    interpretations thereunder or thereof.

   

  
    
      

    34

  

  “Regulation T” means Regulation T of the Board from time to time in effect and all official rulings and
    interpretations thereunder or thereof.

   

  “Regulation U” means Regulation U of the Board from time to time in effect and all official rulings and
    interpretations thereunder or thereof.

   

  “Regulation X” means Regulation X of the Board from time to time in effect and all official rulings and
    interpretations thereunder or thereof.

   

  “Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective
    directors, officers, employees and agents of such Person and such Person’s Affiliates.

   

  “Relevant Governmental Body” means (a) with respect to a Benchmark Replacement in respect of Loans denominated
    in Dollars, the Federal Reserve Board and/or the NYFRB, or a committee officially endorsed or convened by the Federal Reserve Board and/or the NYFRB or, in each case, any successor thereto, (b) with respect to a Benchmark Replacement in respect of
    Loans denominated in Sterling, the Bank of England, or a committee officially endorsed or convened by the Bank of England or, in each case, any successor thereto and (c) with respect to a Benchmark Replacement in respect of Loans denominated in Euros,
    the European Central Bank, or a committee officially endorsed or convened by the European Central Bank or, in each case, any successor thereto.

   

  “Relevant Rate” means (a) with respect to any Eurocurrency Borrowing denominated in US Dollars, the LIBO Rate,
    (b) with respect to any Eurocurrency Borrowing denominated in Euros, the EURIBOR Rate or (c) with respect to any Borrowing denominated in Sterling, the Daily Simple SONIA.

   

  “Relevant Screen Rate” means (a) with respect to any Borrowing denominated in Dollars, the LIBO Screen Rate or
    (b) with respect to any Borrowing denominated in Euros, the EURIBOR Screen Rate.

   

  “Required Lenders” means, at any time, Lenders having Revolving Exposures and unused Revolving Commitments
    representing more than 50% of the sum, without duplication, of the total Revolving Exposures and unused Revolving Commitments at such time; provided that, whenever there is one or more
    Defaulting Lenders, the Revolving Exposure of, and the unused Revolving Commitment of, each Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.

   

  “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK
    Resolution Authority.

   

  “Reuters” means, as applicable, Thomson Reuters Corp., Refinitiv, or any successor thereto.

   

  “Revaluation Date” shall mean (a) with respect to any Loan denominated in any
    Designated Foreign Currency, each of the following: (i) the date of the Borrowing of such Loan and (ii) each date of a conversion into or continuation of such Loan pursuant to 

  

   

  
    
      

    35

  

   the terms of this Agreement and (b) any additional date as the Administrative Agent may determine at any time when an Event of Default
    exists

   

  

  “Revolving Borrowing” means Revolving Loans of the same Type and Designated Foreign Currency, made, converted
    or continued on the same date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect.

   

  “Revolving Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make
    Revolving Loans and to acquire participations in Swingline Loans hereunder, expressed as an amount representing the maximum aggregate permitted amount of such Lender’s Revolving Exposure hereunder, as such commitment may be (a) reduced from time to
    time pursuant to Section 2.07, (b) increased or established from time to time pursuant to Section 2.19 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04.  The amount of each Lender’s
    Revolving Commitment on the  Effective Date is set forth on Schedule 2.01, or in the Assignment and Assumption or the Incremental Facility Amendment pursuant to which such Lender shall have assumed its Revolving Commitment, as applicable.  The
    aggregate amount of the Lenders’ Revolving Commitments on the Effective Date is $5,000,000,000.

   

  “Revolving Exposure” means, at any time, the sum of (a) the Dollar Equivalent of Revolving Loans outstanding at
    such time and (b) the Swingline Exposure at such time.  The Revolving Exposure of any Lender at any time shall be such Lender’s Applicable Percentage of the total Revolving Exposure at such time.

   

  “Revolving Loan” means a Loan made pursuant to Section 2.01.

   

  “Sanctioned Country” means, at any time, a country or territory which is the target of comprehensive
      Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea and Syria).

   

  “Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated or
      blocked Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the United Kingdom, the European Union or any EU member state, (b) any
      Person organized or ordinarily resident in a Sanctioned Country or (c) any Person owned or controlled by, or acting on behalf of, any such Person described in the foregoing clauses (a) and (b).

   

  “Sanctions” means economic or financial measures against targeted countries, governments, territories,
      individuals, entities or vessels, as enumerated in national legislation, regulation or other mechanism carrying the force of law, and which are imposed, administered or enforced from time to time by (a) the U.S. government, including the Office of
      Foreign Assets Control of the U.S. Department of the Treasury or  the U.S. Department of State or (b) the European Union, Her Majesty’s Treasury of the United Kingdom or the United Nations Security Council.

   

  “SEC” means the United States Securities and Exchange Commission.

   

  
    
      

    36

  

  “Significant Subsidiary” means any Subsidiary (i) the net assets of which were greater than 10% of Consolidated
    Net Assets as of the last day of the most recent fiscal period for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, prior to the first delivery of such financial statements, greater than 10% of Consolidated Net
    Assets as of the date of the most recent financial statements referred to in Section 3.04(a)) or (ii) the total revenues of which were greater than 10% of Consolidated Total Revenues for the four-fiscal-quarter period ending on the last day of the most
    recent fiscal period for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, prior to the first delivery of such financial statements, greater than 10% of Consolidated Total Revenues for the four-fiscal-quarter period
    ending on the last day of the most recent fiscal period set forth in the most recent financial statements referred to in Section 3.04(a)).  For purposes of making the determinations required by this definition, total revenues and net assets of Foreign
    Subsidiaries shall be converted into Dollars at the rates used in preparing the financial statements of the Company to be delivered pursuant to Section 5.01(a) or (b) (or, prior to the first delivery of such financial statements, at the rates used in
    preparing the Company’s most recent financial statements referred to in Section 3.04(a)).

   

  “SOFR” means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate
    for such Business Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business Day.

   

  “SOFR Administrator” means the NYFRB (or a successor administrator of the secured overnight financing rate).

   

  “SOFR Administrator’s Website” means the NYFRB’s Website, or any successor source for the secured overnight
    financing rate identified as such by the SOFR Administrator from time to time.

   

  “SONIA” means, with respect to any Business Day, a rate per annum equal to the Sterling Overnight Index Average
    for such Business Day published by the SONIA Administrator on the SONIA Administrator’s Website on the immediately succeeding Business Day.

   

  “SONIA Administrator” means the Bank of England (or any successor administrator of the Sterling Overnight Index
    Average).

   

  “SONIA Administrator’s Website” means the Bank of England’s website, currently at
    http://www.bankofengland.co.uk, or any successor source for the Sterling Overnight Index Average identified as such by the SONIA Administrator from time to time.

   

  “SONIA Borrowing” means any Borrowing comprised of SONIA Loans.

   

  “SONIA Business Day” means, for any Loan denominated in Sterling, any day except for (a) a Saturday or a Sunday
    or (b) a day on which banks are closed for general business in London.

   

  
    
      

    37

  

  “SONIA Interest Day” has the meaning set forth in the definition of “Daily Simple SONIA”.

   

  “SONIA Loan” means a Loan that bears interest at a rate determined by reference to the Daily Simple SONIA.

   

  “S&P” means Standard & Poor’s
      Ratings Services, a Standard & Poor’s Financial Services LLC business, and any successor thereto.

   

  “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which
    is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Federal Reserve Board
    to which the Administrative Agent is subject with respect to the Adjusted LIBO Rate or the Adjusted EURIBOR Rate, as applicable, for eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D) or any other reserve ratio
    or analogous requirement of any central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Loans.  Such reserve percentage shall include those imposed pursuant to Regulation D. 
    Eurocurrency Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under
    Regulation D or any comparable regulation.  The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

   

  “Sterling” or “£”  means the lawful currency of the
    United Kingdom.

   

  “subsidiary” means, with respect to any Person (the “parent”)

    at any date, any corporation, limited liability company, partnership, association or other entity (a) the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements
    were prepared in accordance with GAAP as of such date, (b) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
    general partnership interests are, as of such date, owned, controlled or held, or (c) that is, as of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.

   

  “Subsidiary” means any subsidiary of the Company.

   

  “Supply Chain Transaction” means (a) any transaction or agreement under which any bank, financial institution or other Person may from time to time provide any financial
    accommodation or payment arrangement to any of the Company or any Subsidiary in connection with trade payables or receivables of the Company or any Subsidiary, whether issued for the benefit of the Company, any Subsidiary, any bank, financial
    institution or such other Person that has acquired such trade payables or receivables pursuant to “supply chain”, “customer financing” or other similar programs 

  

   

  
    
      

    38

  

   related to trade payables or receivables resulting from Company or any Subsidiary’s transactions with customer and suppliers; and (b) any sale, disposition, assignment,
    lease, license, conveyance or other transaction in respect of finance, lease or accounts receivable in relation to products sold or services provided by the Company or any Subsidiary in the ordinary course of its business.

   

  

  “Sustainability Fee Adjustment” means, with respect to any KPI Metrics Report for any period between
    Sustainability Pricing Adjustment Dates, an amount (whether positive, negative or zero), expressed as a percentage, equal to the sum of (a) the GHG Reduction Commitment Fee Adjustment Amount plus
    (b) the Diversity and Inclusion Commitment Fee Adjustment Amount, in each case for such period.

   

  “Sustainability Pricing Adjustment Date” has the meaning specified in Section 2.24(a).

   

  “Sustainability Rate Adjustment” means, with respect to any KPI Metrics Report for any period between
    Sustainability Pricing Adjustment Dates, an amount (whether positive, negative or zero), expressed as a percentage, equal to the sum of (a) the GHG Reduction Applicable Rate Adjustment Amount plus
    (b) the Diversity and Inclusion Applicable Rate Adjustment Amount, in each case for such period.

   

  “Sustainability Report” means the Company’s annual non-financial Sustainable Impact Report publicly reported by
    the Company and published on an Internet or intranet website to which each Lender and the Administrative Agent have been granted access free of charge (or at the expense of the Company).

   

  “Sustainability Structuring Agent” means BNP Paribas or such other entities appointed to such role in accordance
    with Section 2.23(h).

   

  “Sustainability Table” means the Sustainability Table set forth on Schedule 1.01.

   

  “Swingline Borrowing” means a Borrowing of Swingline Loans.

   

  “Swingline Commitment” means, with respect to a Swingline Lender, the commitment of such Lender to make
    Swingline Loans in an aggregate principal amount at any time outstanding not in excess of the Dollar Equivalent amount set forth with respect to such Swingline Lender on Schedule 2.01.  The aggregate amount of the Swingline Commitments on the Effective
    Date is US$1,500,000,000.

   

  “Swingline Exposure” means at any time, the sum of the Dollar Equivalents of the outstanding Swingline Loans at
    such time.  The Swingline Exposure of any Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time.

   

  “Swingline Lender” means each Lender with a Swingline Commitment referred to as such in Schedule 2.01.

   

  “Swingline Loan” means a Loan made pursuant to Section 2.04.

   

  
    
      

    39

  

  “TARGET” means the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET2) payment
    system (or, if such payment system ceases to be operative, such other payment system (if any) determined by the Administrative Agent to be a suitable replacement).

   

  “TARGET Day” means any day on which TARGET is open for the settlement of payments in Euro.

   

  “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings
    (including backup withholdings) imposed by any Governmental Authority including any interest, additions to tax or penalties applicable thereto.

   

  “Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the
    forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

   

  “Term SOFR Notice” means a notification by the Administrative Agent to the Lenders and the Company of the
    occurrence of a Term SOFR Transition Event.

   

  “Term SOFR Transition Event” means the determination by the Administrative Agent that (a) Term SOFR has been
    recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-In Election, as applicable, has previously
    occurred resulting in a Benchmark Replacement in accordance with Section 2.12 that is not Term SOFR.

   

  “Total Leverage Ratio” means on any date of determination, the ratio of (a) Consolidated Total Debt on such
    date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date.

   

  “Transactions” means the execution, delivery and performance by the Company and each other Borrower, if any, of
    this Agreement, the borrowing of Loans, the use of the proceeds thereof, and the transactions to be effected on the Effective Date.

   

  “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan,
    or on the Loans comprising such Borrowing, is determined by reference to the LIBO Rate (including the Adjusted LIBO Rate), the Daily Simple SONIA or the Alternate Base Rate.

   

  “UK Financial Institutions” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as
    amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom
    Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

   

  
    
      

    40

  

  “UK Resolution Authority” means the Bank of England or any other public administrative authority having
    responsibility for the resolution of any UK Financial Institution.

   

  “UK Swingline Loan” means a Swingline Loan denominated in Sterling.

   

  “Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

   

  “US-Based Executive” means any employee of the Company in the United States of America that has the title Vice
    President (or comparable title), or any title higher than Vice President (or comparable title).

   

  “US Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

   

  “US Swingline Loan” means a Swingline
    Loan denominated in US Dollars.

   

  “Wholly Owned Subsidiary” means a Subsidiary of which securities or other ownership interests (except for
    directors; qualifying shares and other de minimis amounts of outstanding securities or ownership interests) representing 100% of
    the ordinary voting power or, in the case of a partnership, 100% of the general partnership interests are, at the time any determination is being made, owned, controlled or held by the Company or one or more Wholly Owned Subsidiaries of the Company or
    by the Company and one or more Wholly Owned Subsidiaries of the Company.

   

  “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal
    from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA.

   

  “Write-Down and Conversion Powers” means (a) with respect to any EEA Resolution Authority, the write-down and
    conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect
    to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability
    arises, to convert all or part of that liability into shares, securities or obligations of that Person or any other Person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any
    obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

   

  SECTION 1.02.          Classification of Loans and Borrowings.  For
        purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a
        “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency Revolving Loan”).  Borrowings also may be classified and referred to by 

   

  
    
      

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  Class (e.g., a “Revolving Borrowing”) or by Type (e.g.,
        a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency Revolving Borrowing”).

   

    

  SECTION 1.03.          Terms Generally.  The definitions of terms herein
        shall apply equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.  The words “include,” “includes” and “including” shall
        be deemed to be followed by the phrase “without limitation.”  The word “will” shall be construed to have the same meaning and effect as the word “shall.”  Unless the context requires otherwise, (a) any definition of or reference to any agreement,
        instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or
        modifications set forth herein), (b) any reference to any statute, regulation or other law shall be construed (i) as referring to such statute, regulation or other law as from time to time amended, supplemented or otherwise modified (including by
        succession of comparable successor statutes, regulations or other laws) and (ii) to include all official rulings and interpretations thereunder, (c) any reference herein to any Person shall be construed to include such Person’s successors and
        assigns, (d) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (e) all references herein to Articles, Sections,
        Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (f) the phrase “to the best of the knowledge” shall mean the belief of the officers of the Company and the Subsidiaries
        directly participating in or associated with the due diligence and negotiations in connection with the Transactions, and (g) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all
        tangible and intangible assets and properties, including cash, securities, accounts and contract rights.

   

  SECTION 1.04.          Accounting Terms; GAAP.  Except as otherwise
        expressly provided herein, including in the definition of “Capitalized Lease Obligations”, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Company notifies the Administrative Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the
        application thereof on the operation of such provision (or if the Administrative Agent notifies the Company that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given
        before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been
        withdrawn or such provision amended in accordance herewith.  Notwithstanding any other provision contained herein, all references to GAAP and all terms of an accounting or financial nature used herein shall be construed, and all computations of
        amounts and ratios referred to herein shall be made, (a) without giving effect to (i) any election under Financial Accounting Standards Board Accounting Standards Codification 825 (or any other Financial Accounting Standard having a similar result
        or effect) to value any Indebtedness or other liabilities of the Company or any Subsidiary at “fair value”, as 

      

   

  
    
      

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  defined therein, or (ii) any treatment of Indebtedness under Accounting Standards Codification 470-20 or 2015-03 (or any other Accounting Standards Codification or
        Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof,
        and (b) without giving effect to any change in accounting for leases resulting from the implementation of Financial Accounting Standards Board ASU No. 2016-02, Leases (Topic 842) or any other Accounting Standards Codification or Financial
        Accounting Standard having a similar result or effect), to the extent that such change would require the recognition of right-of-use assets and lease liabilities for any lease (or similar arrangement conveying the right to use) that would not be
        classified as a capital lease under GAAP as in effect on December 31, 2016, regardless of whether such lease was in effect on such date or amended, modified or otherwise supplemented after such date.

   

    

  SECTION 1.05.          Exchange Rates; Currency
            Equivalents.  (a)   The Administrative Agent shall determine the Dollar Equivalent amounts of Borrowings denominated in Designated Foreign Currencies.  Such Dollar Equivalent shall become effective as of such Revaluation Date and
        shall be the Dollar Equivalent of such amounts until the next Revaluation Date to occur.  Except for purposes of financial statements delivered by the Company hereunder or calculating financial covenants hereunder or except as otherwise provided
        herein, the applicable amount of any Agreed Currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the Administrative Agent.

   

  
    
      (b) Wherever

          in this Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Eurocurrency Loan or a SONIA Loan, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Loan is
          denominated in a Designated Foreign Currency, such amount shall be the Dollar Equivalent of such amount (rounded to the nearest unit of such Designated Foreign Currency, with 0.5 of a unit being
          rounded upward), as determined by the Administrative Agent.

       

        

      SECTION 1.06.         Interest Rates; LIBOR Notification. 

            The interest rate on a Loan denominated in Dollars or a Designated Foreign Currency may be derived from an interest rate benchmark that is, or may in the future become, the subject of regulatory reform.  Regulators have signaled the need to use
            alternative benchmark reference rates for some of these interest rate benchmarks and, as a result, such interest rate benchmarks may cease to comply with applicable laws and regulations, may be permanently discontinued, and/or the basis on
            which they are calculated may change.  The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market.  On March 5, 2021, the U.K.
            Financial Conduct Authority (“FCA”) publicly announced that: (a)   immediately after December 31, 2021, publication of all seven euro LIBOR settings, the overnight, 1-week, 2-month and
            12-month British Pound Sterling LIBOR settings, and the 1-week and 2-month U.S. Dollar LIBOR settings will permanently cease; immediately after June 30, 2023, publication of the overnight and 12-month U.S. Dollar LIBOR settings will permanently
            cease; immediately after December 31, 2021, the 1-month, 3-month and 6- 

       

        

    

  

  
    
      

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  month British Pound Sterling LIBOR settings will cease to be provided or, subject to consultation by the FCA, be provided on a changed methodology (or “synthetic”) basis
        and no longer be representative of the underlying market and economic reality they are intended to measure and that representativeness will not be restored; and immediately after June 30, 2023, the 1-month, 3-month and 6-month U.S. Dollar LIBOR
        settings will cease to be provided or, subject to the FCA’s consideration of the case, be provided on a synthetic basis and no longer be representative of the underlying market and economic reality they are intended to measure and that
        representativeness will not be restored.  There is no assurance that dates announced by the FCA will not change or that the administrator  of LIBOR and/or regulators will not take further action that could impact the availability, composition, or
        characteristics of LIBOR or the currencies and/or tenors for which LIBOR is published.  Each party to this agreement should consult its own advisors to stay informed of any such developments.  Public and private sector industry initiatives are
        currently underway to identify new or alternative reference rates to be used in place of LIBOR.  Upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-In Election, Section 2.12(b) and (c) provide a
        mechanism for determining an alternative rate of interest.  The Administrative Agent will promptly notify the Company, pursuant to Section 2.12(e), of any change to the reference rate upon which the interest rate on Eurocurrency Loans is based. 
        However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the Daily Simple SONIA, LIBOR or other rates in the
        definition of “LIBO Rate” (or “EURIBOR Rate”, as applicable) or with respect to any alternative or successor rate thereto, or replacement rate thereof (including, without limitation, (i) any such alternative, successor or replacement rate
        implemented pursuant to Section 2.12(b) or (c), whether upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-In Election, and (ii) the implementation of any Benchmark
        Replacement Conforming Changes pursuant to Section 2.12(d)), including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same value or
        economic equivalence of, the Daily Simple SONIA, the LIBO Rate (or the EURIBOR Rate, as applicable) or have the same volume or liquidity as did the London interbank offered rate (or the euro interbank offered rate, as applicable) prior to its
        discontinuance or unavailability.  The Administrative Agent and its affiliates and/or other related entities may engage in transactions that affect the calculation of any Daily Simple SONIA, any alternative, successor or alternative rate (including
        any Benchmark Replacement) and/or any relevant adjustments thereto, in each case, in a manner adverse to the Company or its Subsidiaries.

   

  SECTION 1.07.          Divisions.  For all purposes under this Agreement, in connection with any division or plan of division under Delaware law (or any
        comparable event under the laws of another jurisdiction): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from
        the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its capital stock (or similar
        equity interests) at such time.

   

   

  
    
      

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  ARTICLE II

        

      The Credits

   

  SECTION 2.01.          Commitments.  Subject to the terms and conditions and relying on the representations and warranties (subject to Section 4.02(a)) set forth herein, each Lender
        agrees, severally and not jointly, to make Revolving Loans to any Borrower from time to time during the Availability Period in Dollars or a Designated Foreign Currency in an aggregate principal amount that will not result in (i) such Lender’s
        Revolving Exposure exceeding such Lender’s Revolving Commitment or (ii) the sum of the total Revolving Exposures exceeding the total Revolving Commitments.  Within the foregoing limits and subject to the terms and conditions set forth herein, any
        Borrower may borrow, prepay and reborrow Revolving Loans during the Availability Period.

   

  SECTION 2.02.          Loans and Borrowings.  (a)    Each Revolving
        Loan shall be made as part of a Borrowing consisting of Revolving Loans of the same Type and denominated in the same currency made by the Lenders ratably in accordance with their individual Revolving Commitments.  The failure of any Lender to make
        any Revolving Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Revolving Commitments of the Lenders are several and no
        Lender shall be responsible for any other Lender’s failure to make Revolving Loans as required.

   

  
    
      (b) Subject to Section 2.12, (i) each Revolving
          Borrowing denominated in Dollars shall be comprised entirely of Eurocurrency Loans or ABR Loans, as the applicable Borrower may request in accordance herewith, (ii) each Revolving Borrowing denominated in Sterling shall be comprised entirely of
          SONIA Loans and (iii) each Revolving Borrowing denominated in Euros shall be comprised entirely of Eurocurrency Loans.  Each Lender at its option may make any Eurocurrency Loan, SONIA Loan or (in the case of any Swingline Lender) Swingline Loan
          by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrowers to
          repay such Loan in accordance with the terms of this Agreement.

       

        

    

  

  
    
      (c) At the commencement of each Interest Period
          for any Eurocurrency Borrowing, and at the time that each SONIA Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum.  At the time that
          each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $5,000,000 and not less than $25,000,000.  Each Swingline Loan shall be in an amount that is an integral multiple of the
          Borrowing Multiple and not less than the Borrowing Minimum.  Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be
          more than a total of 10 Eurocurrency Revolving Borrowings and SONIA Borrowings outstanding.

       

        

    

  

  
    
      
        
          

        45

      

      (d) Notwithstanding any other provision of this
          Agreement, no Borrower shall be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.

       

        

    

  

  SECTION 2.03.          Requests for Revolving Borrowings.  To request a
        Revolving Borrowing, the applicable Borrower shall notify the Administrative Agent of such request by telephone, by telecopy or by electronic mail (a) in the case of a Eurocurrency Borrowing, not later than 12:00 noon, Local Time, three Business
        Days before the date of the proposed Borrowing, (b) in the case of an ABR Borrowing, not later than 12:00 noon, Local Time, on the Business Day of the proposed Borrowing or (c) in the case of an SONIA Borrowing, not later than 12:00 noon, Local
        Time, five Business Days before the date of the proposed Borrowing.  Each such Borrowing Request shall be irrevocable and, if telephonic, shall be confirmed promptly by hand delivery, telecopy or electronic mail to the Administrative Agent of a
        written Borrowing Request in a form agreed to by the Administrative Agent and the Company and signed by the applicable Borrower.  Each such telephonic and written Borrowing Request shall specify the following information in compliance with
        Section 2.02:

   

  (i) the applicable Borrower;

   

  (ii) the currency and aggregate amount of the
      requested Borrowing;

   

  (iii) the date of such Borrowing, which shall be
      a Business Day;

   

  (iv) the Type of the requested Borrowing;

   

  (v) in the case of a Eurocurrency Borrowing, the
      initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and

   

  (vi) the location and number of the applicable
      Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.05.

   

  If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving Borrowing shall be (A) in the case of a Borrowing denominated in Dollars,
    an ABR Borrowing, (B) in the case of a Borrowing denominated in Euros, a Eurocurrency Borrowing and (C) in the case of a Borrowing denominated in Sterling, an SONIA Borrowing.  If no Interest Period is specified with respect to any requested
    Eurocurrency Revolving Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration.  Any Borrowing Request that shall fail to specify any of the information required by clause (i), (ii), (iii) or
    (vi) of the immediately preceding paragraph may be rejected by the Administrative Agent if such failure is not corrected promptly after the Administrative Agent shall give written or telephonic notice thereof to the applicable Borrower and, if so
    rejected, will be of no force or effect.  Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as
    part of the requested Borrowing.

   

  
    
      

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  SECTION 2.04.  Swingline Loans.  (a)    Subject to the terms and conditions set forth herein, each Swingline Lender
    agrees to make Swingline Loans to any Borrower denominated in Dollars or Designated Foreign Currencies from time to time during the Availability Period, in an aggregate amount at any time outstanding that will not result in (i) the Swingline Exposure
    exceeding US$1,500,000,000, (ii) the aggregate Dollar Equivalent amount of outstanding Swingline Loans made by any Swingline Lender exceeding such Lender’s Swingline Commitment, (iii) the aggregate Dollar Equivalent amount of such Swingline Lender’s
    outstanding Revolving Loans and Swingline Loans (including participations in outstanding Swingline Loans) exceeding the amount of such Swingline Lender’s Revolving Commitment, or (iv) the aggregate Revolving Exposure exceeding the aggregate amount of
    the Revolving Commitments; provided that no Swingline Lender shall be required to make a Swingline Loan to refinance an outstanding Swingline Loan.  Each Swingline Loan denominated in Dollars
    will be an ABR Loan.  Within the foregoing limits and subject to the terms and conditions set forth herein, any Borrower may borrow, prepay and reborrow Swingline Loans.

   

  (b)  To request a Swingline Loan, the applicable
      Borrower shall notify the Administrative Agent of such request in writing (or, in the case of a US Swingline Loan, by telephone (confirmed by telecopy or electronic mail)) not later than (i) 1:00 p.m., Local Time, on the day of any such proposed US
      Swingline Loans and (ii) 10:00 a.m., Local Time, on the day of any such proposed European Swingline Loans or UK Swingline Loans.  Each such notice shall be irrevocable and shall specify the identity of the applicable Borrower, the requested borrowing
      date (which shall be a Business Day), the currency and the aggregate principal amount of the requested Swingline Loan (which shall comply with Section 2.02(c)).  The Administrative Agent will promptly notify each Swingline Lender of any such notice
      received from such Borrower and of such Swingline Lender’s share of the requested Swingline Borrowing.  Each Swingline Lender shall make its share of each requested Swingline Loan available to the applicable Borrower (pro rata in accordance with the
      relative amounts of the Swingline Commitments of the Swingline Lenders) in the requested currency by means of a transfer of funds by 2:00 p.m., Local Time, on the requested date of such Swingline Loan, (i) to the Applicable Funding Account, in the
      case of US Swingline Loans, and (ii) to the account of the Administrative Agent most recently designated by it for such purpose, in the case of Multicurrency Swingline Loans.  The Administrative Agent will make such Multicurrency Swingline Loans
      available to the applicable Borrower by promptly transferring the amounts so received pursuant to clause (ii) of the immediately preceding sentence, in like funds, to the Applicable Funding Account.

   

    

  (c)  Any Swingline Lender may by written notice
      given to the Administrative Agent not later than 10:00 a.m., Local Time, on any Business Day require the Lenders to acquire and fund participations on such Business Day in all or a portion of the Swingline Loans of such Swingline Lender outstanding. 
      Such notice shall specify the aggregate amount and currency of the Swingline Loans in which the Lenders will participate.  Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Lender, specifying in such
      notice each Lender’s share, based on such Lender’s Applicable Percentage, of such Swingline Loans.  Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay  

   

  
    
      

    47

  

  to the Administrative Agent (in Dollars or the relevant Designated Foreign Currency, as the case may be), for the account of the applicable
      Swingline Lender, such Lender’s Applicable Percentage of such Swingline Loan or Loans.  Each Lender acknowledges and agrees that its obligation to acquire and fund participations in Swingline Loans pursuant to this paragraph is absolute and
      unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement,
      withholding or reduction whatsoever.  Each Lender shall comply with its obligations under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.05 with respect to Loans made by such Lender (and
      Section 2.05, including with respect to interest payable in respect of unfunded amounts, shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the applicable Swingline Lender the amounts so received by it from the Lenders.  The
      Administrative Agent shall notify the Company of any participations in any Swingline Loan acquired pursuant to this paragraph and thereafter any amounts received by the Administrative Agent from the applicable Borrower (or other party on behalf of
      such Borrower) in respect of a Swingline Loan shall be promptly remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the applicable Swingline Lender, as their interests may appear;
      provided that any such payment so remitted shall be repaid to the Administrative Agent if and to the extent such payment is required to be refunded to any Borrower for any reason.  The
      purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the applicable Borrower of any default in the payment thereof.  Notwithstanding the foregoing, a Lender shall not have any obligation to acquire a
      participation in a Swingline Loan pursuant to this paragraph if an Event of Default shall have occurred and be continuing at the time such Swingline Loan was made and such Lender shall have notified the applicable Swingline Lender in writing, at
      least one Business Day prior to the time such Swingline Loan was made, that such Event of Default has occurred and that such Lender will not acquire participations in Swingline Loans made while such Event of Default is continuing.

   

  (d)  Notwithstanding anything to the contrary in
      this Agreement, if any Swingline Exposure exists at the time a Lender becomes a Defaulting Lender, (i) the applicable Borrower (or the Company on behalf of such Borrower) shall make arrangements satisfactory to the Swingline Lenders eliminating the
      risk of the Swingline Lenders with respect to each Defaulting Lender’s participation therein or (ii) in the event no such satisfactory arrangements are made, the applicable Borrower shall be required to prepay the outstanding Swingline Loans in an
      amount equal to the Swingline Exposure of the Defaulting Lender or, if agreed by each Swingline Lender, cash collateralize Swingline Loans in the amount of the Swingline Exposure of the Defaulting Lender on terms satisfactory to each Swingline Lender
      (in which case any such cash collateral held by the Administrative Agent for the account of any Swingline Lender will be applied as a payment of Swingline Loans immediately prior to any exercise by such Swingline Lender of its rights to require the
      funding of participations in such Loans pursuant to Section 2.04(c)).  In the event the applicable Borrower prepays or cash collateralizes the Swingline Loans in the amount of the Swingline Exposure of the Defaulting Lender 

    

   

  
    
      

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  pursuant to clause (ii) above, then the Lenders other than the Defaulting Lender will be required to fund participations in the remaining Swingline Loans
        under Section 2.04(c) in accordance with their Applicable Percentages determined, in accordance with the definition of such term herein, without taking into account the Commitment of such Defaulting Lender (it being understood that such funding of
        participations shall not result in such Lender’s Revolving Exposure exceeding such Lender’s Revolving Commitment).

    

   

    

  SECTION 2.05.  Funding of Borrowings. 
    (a)    Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds in the applicable currency, in the case of a Eurocurrency Loan or SONIA Loan by 12:00 noon, Local Time, and
    in the case of an ABR Loan by 2:00 p.m., Local Time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders; provided that
    Swingline Loans shall be made as provided in Section 2.04.  The Administrative Agent will make such Loans available to the applicable Borrower by promptly crediting the amounts so received, in like funds, to the Applicable Funding Account.

   

  (b)  Unless the Administrative Agent shall have
      received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such
      share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount.  In such event, if a Lender has not in fact made its share of
      the applicable Borrowing available to the Administrative Agent, then the applicable Lender and such Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and
      including the date such amount is made available to such Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the applicable Overnight Rate and a rate determined by the
      Administrative Agent in accordance with banking industry rules on interbank compensation, or (ii) in the case of such Borrower, the interest rate applicable to ABR Loans, or in the case of Borrowings in Designated Foreign Currencies, in accordance
      with such market practice, in each case as applicable. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.

   

  SECTION 2.06.  Interest Elections.  (a)    Each Borrowing initially shall be of the Type specified in the applicable
    Borrowing Request and, in the case of a Eurocurrency Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or as otherwise provided in Section 2.03.  Thereafter, the applicable Borrower may elect to convert such
    Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section.  The applicable Borrower may elect different options with respect to
    different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate 

  

   

  
    
      

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  Borrowing.  This Section shall not apply to Swingline Borrowings, which may not be converted or continued.

   

    

  (b)  To make an election pursuant to this
      Section, the applicable Borrower shall notify the Administrative Agent of such election by telephone by the time that a Borrowing Request would be required under Section 2.03 if the applicable Borrower were requesting a Revolving Borrowing of the
      Type and in the currency resulting from such election to be made on the effective date of such election; provided that any notice of election to convert a Eurocurrency Borrowing into an ABR
      Borrowing at the end of its then-current Interest Period must be made by the time that a Borrowing Request for a Eurocurrency Borrowing would be required under Section 2.03.  Each such telephonic Interest Election Request shall be irrevocable and
      shall be confirmed promptly by hand delivery, telecopy or electronic mail to the Administrative Agent of a written Interest Election Request in a form approved by the Administrative Agent and signed by a Financial Officer of the applicable Borrower. 
      Notwithstanding any other provision of this Section, no Borrower will be permitted to change the currency of any Borrowing.

   

  (c)  Each telephonic and written Interest
      Election Request shall specify the following information in compliance with Section 2.02:

   

  (i) the Agreed Currency and principal amount of
      the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to
      be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

   

  (ii) the effective date of the election made
      pursuant to such Interest Election Request, which shall be a Business Day;

   

  (iii) whether, in the case of a Borrowing
      denominated in Dollars, the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; and

   

  (iv) if the resulting Borrowing is a
      Eurocurrency Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period.”

   

  If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the applicable Borrower shall be deemed to have
    selected an Interest Period of one month’s duration.

   

  (d)  Promptly following receipt of an Interest
      Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.

   

    

  (e)  If the applicable Borrower fails to deliver
      a timely Interest Election Request with respect to a Eurocurrency Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall
      be converted to a one-month  

   

  
    
      

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  Eurocurrency Borrowing.  Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the
      Administrative Agent, at the request of the Required Lenders, so notifies the Company, then, so long as an Event of Default is continuing (i) no outstanding Borrowing denominated in Dollars may be converted to or continued as a Eurocurrency Borrowing
      or SONIA Borrowing and (ii) unless repaid, each (x) Eurocurrency Borrowing denominated in Dollars shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto and (y) each Eurocurrency Borrowing or SONIA Borrowing
      denominated in an Designated Foreign Currency shall bear interest at the Central Bank Rate for the applicable Agreed Currency plus the Applicable Rate; provided that, if the Administrative
      Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Currency cannot be determined, any outstanding affected Eurocurrency Loans or SONIA Loans denominated in
      any Agreed Currency other than Dollars shall either be (A) converted to an ABR Borrowing denominated in Dollars (in an amount equal to the Dollar Equivalent of such Designated Foreign Currency) at the end of the Interest Period or on the Interest
      Payment Date, as applicable, therefor or (B) prepaid at the end of the applicable Interest Period or on the Interest Payment Date, as applicable, in full; provided, further, that if no election is made by the applicable Borrower by the earlier of (x) the date that is three Business Days after receipt by the applicable Borrower of such notice and (y) the
      last day of the current Interest Period for the applicable Eurocurrency Loan, the applicable Borrower shall be deemed to have elected clause (A) above.

   

  SECTION 2.07.  Termination and Reduction of Commitments.  (a)    Unless previously terminated, the Commitments shall terminate on the
    Maturity Date.

   

  (b)  The Company may at any time terminate, or
      from time to time reduce, the Revolving Commitments; provided that (i) each reduction of the Revolving Commitments shall be in an amount that is an integral multiple of $1,000,000 and not
      less than $25,000,000 and (ii) the Company shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.09, the aggregate Revolving Exposures would exceed the
      aggregate Revolving Commitments.

   

  (c)  The Company shall notify the Administrative
      Agent of any election to terminate or reduce the Revolving Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date
      thereof.  Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof.  Each notice delivered by the Company pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Company may state that such notice is conditioned upon the effectiveness of other credit facilities or other events, in which case such
      notice may be revoked by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.  Any termination or reduction of the Revolving Commitments 

    

   

  
    
      

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  shall be permanent.  Each reduction of the Revolving Commitments shall be made ratably among the Lenders in accordance with their individual Applicable Percentages.

   

    

  SECTION 2.08.  Repayment of Loans; Evidence of
        Debt.  (a)    Each Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan (other than a Swingline Loan) made to such Borrower
    on the Maturity Date, and (ii) to the Administrative Agent for the account of each Swingline Lender the then unpaid principal amount of each Swingline Loan made to such Borrower on the earlier of the Maturity Date and the first date after such
    Swingline Loan is made that is the 15th or the last day of a calendar month and is at least five Business Days after the date on which such Swingline Loan is made (it being understood that Swingline Loans may be prepaid at anytime in accordance with
    Section 2.09); provided that, on each date that a Revolving Borrowing is made in any currency, the applicable Borrower shall repay all Swingline Loans denominated in such currency that were
    outstanding on the date such Borrowing was requested.

   

  (b)  Each Lender shall maintain in accordance
      with its usual practice an account or accounts evidencing the indebtedness of each Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time
      hereunder.

   

  (c)  The Administrative Agent shall maintain
      accounts in which it shall record (i) the amount and currency of each Loan made hereunder and the Borrower thereof, the Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become
      due and payable from each Borrower to each Lender hereunder, and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.

   

  (d)  The entries made in the accounts maintained
      pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or
      the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of each Borrower to repay the Loans in accordance with the terms of this Agreement.

   

  (e)  Any Lender may request that Loans made by
      it to a Borrower be evidenced by a promissory note.  In such event, such Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns)
      and in a form approved by the Administrative Agent.  Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 10.04) be represented by one or more promissory notes
      in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).

   

  
    
      

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  SECTION 2.09.  Prepayment of Loans.  (a)    Each Borrower shall have the right at any time and from time to time to
    prepay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (d) of this Section and payment of any amounts required under Section 2.14.

   

  (b)  In the event and on each occasion that the
      sum of the total Revolving Exposures exceeds the total Revolving Commitments, then (i) on the last day of any Interest Period for any Eurocurrency Borrowing and (ii) on each other date on which any ABR Revolving Borrowing, SONIA Borrowing or
      Swingline Loan shall be outstanding, one or more Borrower(s) shall prepay Loans in an aggregate amount equal to the lesser of (A) the amount necessary to eliminate such excess (after giving effect to any other prepayment of Loans on such day) and
      (B) the amount of the applicable Revolving Borrowings and Swingline Loans referred to in clause (i) or (ii), as applicable; provided, however,
      that, in any event, one or more Borrower(s) shall prepay Revolving Loans or Swingline Loans in an aggregate amount sufficient to eliminate such excess by the 90th day after such excess first arises.  If at any time the sum of the total Revolving
      Exposures exceeds 105% of the total Revolving Commitments, then one or more Borrower(s) shall, not later than the next Business Day, prepay one or more Borrowings in an aggregate principal amount sufficient to (x) reduce the sum of the total
      Revolving Exposures to an amount not in excess of the total Revolving Commitments.

   

  (c)  Prior to any prepayment of Borrowings, the
      applicable Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to paragraph (d) below.

   

  (d)  The applicable Borrower shall notify the
      Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lenders) by telephone (confirmed by telecopy or electronic mail), by telecopy or by electronic mail of any prepayment hereunder (i) in the case of prepayment of a
      Eurocurrency Revolving Borrowing, not later than 12:00 noon, Local Time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an SONIA Borrowing, not later than 12:00 noon, Local Time, five Business Days before the
      date of prepayment, (iii) in the case of prepayment of an ABR Revolving Borrowing or US Swingline Loans, not later than 12:00 noon, Local Time, on the Business Day of prepayment and (iv) in the case of a prepayment of Multicurrency Swingline Loans,
      by 10:00 a.m., Local Time, on the Business Day of prepayment.  Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof, to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.07, then such notice of prepayment may be revoked if such notice of
      termination is revoked in accordance with Section 2.07.  Promptly following receipt of any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the applicable Lenders of the contents thereof.  Each partial prepayment
      of any Revolving Borrowing shall be in an amount that would be permitted in the case of a Revolving Borrowing of the same Type as provided in Section 2.02.  Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in
      the prepaid Borrowing, and each prepayment of a Swingline Borrowing shall be applied ratably to the Swingline Loans (or participations 

    

   

  
    
      

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  therein) included in such prepaid Borrowing.  Prepayments shall be accompanied by accrued interest to the extent required by Section 2.11.

   

    

  SECTION 2.10.  Fees.  (a)    The
    Company agrees to pay to the Administrative Agent for the account of each Lender a commitment fee at a per annum rate equal to the Applicable Rate in effect from time to time applied to the daily unused amount of the Revolving Commitment of such Lender
    during the period from and including the Effective Date to but excluding the Maturity Date or such earlier date on which the Revolving Commitments terminate.  Accrued commitment fees shall be payable in arrears on the last day of March, June,
    September and December of each year and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur after the Effective Date.  All commitment fees shall be computed on the basis of a year of 360 days and shall
    be payable for the actual number of days elapsed (including the first day but excluding the last day).

   

  (b)  The Company agrees to pay the
      Administrative Agent, for its own account, the fees in the amounts and at the times previously agreed upon by the Company and the Administrative Agent.

   

  (c)  All fees payable hereunder shall be paid on
      the dates due, in immediately available funds, to the Administrative Agent for distribution, in the case of commitment fees, to the Lenders.

   

  SECTION 2.11.  Interest.  (a)    The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate
    plus the Applicable Rate.

   

  (b)  The Loans comprising each Eurocurrency
      Borrowing shall bear interest at the Adjusted LIBO Rate, in the case of Borrowings in Dollars, and at the Adjusted EURIBOR Rate, in the case of Borrowings in Euro, for the Interest Period in effect for such Borrowing plus the Applicable Rate.

   

  (c)  The Loans comprising each SONIA Borrowing
      shall bear interest at the Daily Simple SONIA plus the Applicable Rate.

   

  (d)  Each Swingline Loan shall bear interest
      (i) in the case of a US Swingline Loan, at the Alternate Base Rate plus the Applicable Rate, (ii) in the case of a European Swingline Loan, at the Daily Simple ESTR plus the Applicable Rate applicable to Eurocurrency Loans, and (iii) in the case of a
      UK Swingline Loan, at the Daily Simple SONIA plus the Applicable Rate applicable to SONIA Loans.

   

  (e)  Notwithstanding the foregoing, if any
      principal of or interest on any Loan or any fee or other amount payable by any Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest from the date on which such
      amount became due until such amount is paid in full, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding
      paragraphs of this Section or (ii) in the case of any other 

    

   

  
    
      

    54

  

  amount, 2% plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section.
   

    

  (f)  Accrued interest on each Loan shall be
      payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the Revolving Commitments; provided that (i) interest accrued
      pursuant to paragraph (d) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the
      principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event of any conversion of any Eurocurrency Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan
      shall be payable on the effective date of such conversion.  All interest shall be payable in the currency in which the applicable Loan is denominated.

   

  (g)  All interest hereunder shall be computed on
      the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year)
      and interest on any SONIA Loan shall be computed on the basis of a year of 365 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day).  The applicable Alternate Base Rate,
      Adjusted LIBO Rate, LIBO Rate, Adjusted EURIBOR Rate, EURIBOR Rate or Daily Simple SONIA shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

   

  SECTION 2.12.  Alternate Rate of Interest.  (a) Subject to clauses (b), (c), (d), (e), (f) and (g) of this Section 2.12,
    if:

   

  (i) (A) prior to the commencement of any
      Interest Period for  a Eurocurrency Borrowing, the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate, the LIBO Rate,
      the Adjusted EURIBOR Rate or the EURIBOR Rate, as applicable (including, without limitation, because the Relevant Screen Rate is not available or published on a current basis), for the applicable currency and such Interest Period or (B) at any time,
      the Administrative Agent determines that adequate and reasonable means do not exist for ascertaining the Daily Simple SONIA with respect to any Revolving Borrowing denominated in Sterling; or

   

  (ii) (A) prior to the commencement of any
      Interest Period for a Eurocurrency Borrowing, the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate, the LIBO Rate, the Adjusted EURIBOR Rate or the EURIBOR Rate, as applicable, for such Interest Period will not
      adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period or (B) at any time, the Administrative Agent is advised by the Required Lenders that the Daily Simple
      SONIA with respect to any Revolving Borrowing denominated in Sterling will not 

    

   

  
    
      

    55

  

   adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing;

   

  

  then the Administrative Agent shall give notice thereof to the Borrowers and the Lenders by telephone, telecopy or electronic mail as promptly as practicable thereafter
    and, until the Administrative Agent notifies the Borrowers and the Lenders that the circumstances giving rise to such notice no longer exist, (A) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any
    Borrowing as, a Eurocurrency Borrowing or SONIA Borrowing of the affected type (including Loans denominated in a particular currency, as applicable) shall be ineffective, (B) any Borrowing Request that requests a Eurocurrency Borrowing or SONIA
    Borrowing, (1) if such Borrowing is denominated in Dollars, such Borrowing shall be made as an ABR Borrowing and (2) if such Borrowing is denominated in a Designated Foreign Currency, such Borrowing Request shall be ineffective; provided that if the circumstances giving rise to such notice affect only one Type of Borrowing, then all other Types of Borrowing shall be permitted.  Furthermore, if any Eurocurrency Borrowing
    or any SONIA Borrowing is outstanding on the date of the Company’s receipt of the notice from the Administrative Agent referred to in this Section 2.12(a) with respect to the Relevant Rate applicable to such Eurocurrency Borrowing or SONIA Borrowing,
    then until the Administrative Agent notifies the Company and the Lenders that the circumstances giving rise to such notice no longer exist (i) if such Eurocurrency Borrowing is denominated in Dollars, such Eurocurrency Borrowing, unless repaid, shall
    convert, on the last day of the Interest Period applicable thereto, to an ABR Revolving Borrowing, (ii) if such Eurocurrency Borrowing is denominated in any Designated Foreign Currency, such Eurocurrency Borrowing, unless repaid, shall convert, on the
    last day of the Interest Period applicable thereto, to a CBR Borrowing that bears interest at the Central Bank Rate for the applicable Designated Foreign Currency plus the Applicable Rate, provided
    that, if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Currency cannot be determined, any outstanding affected Eurocurrency Loans
    denominated in any Agreed Currency other than Dollars shall, at the Company’s election prior to such day, (A) be prepaid by the applicable Borrower on such day or (B) solely for the purpose of
    calculating the interest rate applicable to such Eurocurrency Loan, be deemed to be a Eurocurrency Loan denominated in Dollars and shall accrue interest at the same interest rate applicable to Eurocurrency Loans denominated in Dollars at such time or
    (iii) in the case of any SONIA Borrowing, such Borrowing, unless repaid, shall convert, effective upon such notice, to a CBR Borrowing that bears interest at the Central Bank Rate for Sterling plus the Applicable Rate; provided that, if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Currency cannot be determined, any
    outstanding affected SONIA Loans denominated in Sterling, at the Company’s election, shall either (A) be converted into ABR Loans denominated in Dollars (in an amount equal to the Dollar Equivalent of such Agreed Currency)
    immediately or (B) be prepaid in full immediately.

   

  

  (b)  Notwithstanding anything to the contrary herein or in any other Loan Document if a
    Benchmark Transition Event or an Early Opt-In Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the 

   

  
    
      

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  Reference Time in respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause

    (1) or (2) of the definition of “Benchmark Replacement” with respect to Dollars for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such
    Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined
    in accordance with clause (3) of the definition of “Benchmark Replacement” with respect to any Agreed Currency for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes
    hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment
    to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the
    Required Lenders.

   

  (c)  Notwithstanding anything to the contrary herein or in any other
    Loan Document and subject to the proviso below in this paragraph, with respect to a Loan denominated in Dollars, if a Term SOFR Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any
    setting of the then-current Benchmark, then the applicable Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings,
    without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document; provided that, this clause (c) shall not
    be effective unless the Administrative Agent has delivered to the Lenders and the Company a Term SOFR Notice.  For the avoidance of doubt, the Administrative Agent shall not be required to deliver a Term SOFR Notice after the occurrence of a Term SOFR
    Transition Event and may do so in its sole discretion.

   

  (d)  In connection with the implementation of a
      Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes in consultation with the Company from time to time and, notwithstanding anything to the contrary herein or in any other Loan
      Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

   

  (e)  The Administrative Agent will promptly notify the Company and
    the Lenders of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv) the
    removal or reinstatement of any tenor of a Benchmark pursuant to clause (f) below and (v) the commencement or conclusion of any Benchmark Unavailability Period.  Any determination, decision or election that may be made by
    the Administrative Agent or, if 

  

   

  
    
      

    57

  

  applicable, any Lender (or group of Lenders) pursuant to this Section 2.12,
      including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and
      binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this Section 2.12.

   

    

  (f)  Notwithstanding anything to the contrary herein or in any other Loan Document, at any time
    (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR, LIBO Rate or EURIBOR Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or
    other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or
    publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Administrative Agent may modify the definition of “Interest Period” for any Benchmark settings at or after such time to remove such
    unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark
    Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of “Interest Period” for
    all Benchmark settings at or after such time to reinstate such previously removed tenor.

   

  (g)  Upon the Company’s receipt of notice of the
      commencement of a Benchmark Unavailability Period, the applicable Borrower (or the Company on its behalf) may revoke any request for a borrowing of Eurocurrency Loans or SONIA Loans, or conversion to or continuation of Eurocurrency Loans or SONIA
      Loans, to be made, converted or continued during any Benchmark Unavailability Period and, failing that, (x) the applicable Borrower will be deemed to have converted any request for a Eurocurrency Borrowing denominated in Dollars into a request for a
      borrowing of, or conversion to, ABR Loans or (y) any request for a Eurocurrency Borrowing denominated in an Designated Foreign Currency or an SONIA Borrowing shall be ineffective.  During any Benchmark Unavailability Period or at any time that a
      tenor for the then-current Benchmark is not an Available Tenor, the component of ABR based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of ABR.  Furthermore, if any
      Eurocurrency Loan or SONIA Loan in any Agreed Currency is outstanding on the date of the Company’s receipt of notice of the commencement of a Benchmark Unavailability Period with respect to a Relevant Rate applicable to such Eurocurrency Loan or
      SONIA Loan, then until such time as a Benchmark Replacement for such Agreed Currency is implemented pursuant to this Section 2.12, (i) if such Eurocurrency Loan is denominated in Dollars, then on the last day of the Interest Period applicable to such
      Loan (or the next succeeding Business Day if such day is not a Business Day), such Loan shall be converted by the Administrative Agent to, and shall constitute, an ABR Loan denominated in Dollars on such day, (ii) if 

   

  
    
      

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  such Eurocurrency Loan is denominated in any Agreed Currency other than Dollars, then such Loan shall, on the last day of the Interest Period applicable to such Loan (or the next
        succeeding Business Day if such day is not a Business Day) bear interest at the Central Bank Rate for the applicable Agreed Currency plus the Applicable Rate; provided that, if the
        Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Currency cannot be determined, any outstanding affected Eurocurrency Loans denominated
        in any Agreed Currency other than Dollars shall, at the Company’s election prior to such day, (A) be prepaid by the Company on such day or (B) solely for the purpose of calculating the interest rate applicable to such Eurocurrency Loan, such
        Eurocurrency Loan denominated in any Agreed Currency other than Dollars shall be deemed to be a Eurocurrency Loan denominated in Dollars and shall accrue interest at the same interest rate applicable to Eurocurrency Loans denominated in Dollars at
        such time or (iii) if such SONIA Loan is denominated in any Agreed Currency other than Dollars, then such Loan shall bear interest at the Central Bank Rate for the applicable Agreed Currency plus the Applicable Rate; provided that, if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Currency cannot be
        determined, any outstanding affected SONIA Loans denominated in any Agreed Currency, at the Company’s election, shall either (A) be converted into ABR Loans denominated in Dollars (in an amount equal to the Dollar Equivalent of such Agreed
        Currency) immediately or (B) be prepaid in full immediately.

  

   

    

  SECTION 2.13.  Increased Costs. 
    (a)    If any Change in Law shall:

   

  (i) impose, modify or deem applicable any
      reserve, special deposit, liquidity or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve or other requirement reflected in the Adjusted LIBO Rate, Adjusted EURIBOR
      Rate or in additional interest paid pursuant to Section 2.21); or

   

  (ii) impose on any Lender or the London or other
      applicable offshore interbank market for the applicable Agreed Currency any other condition, cost or expense (other than Taxes) affecting this Agreement or Eurocurrency Loans made by such Lender;

   

  and the result of any of the foregoing shall be to increase the cost to such Lender of making, continuing, converting to or maintaining any Eurocurrency Loan (or of
    maintaining its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise), then the applicable Borrower will pay to such Lender such additional
    amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered.

   

  

  (b)  If any Lender determines that any Change in
      Law affecting such Lender or any lending office of such Lender or such Lender’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the
      capital of such Lender’s direct or indirect  

   

  
    
      

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  holding company, if any, as a consequence of this Agreement or the Loans made by such Lender, to a level below that which such Lender or
      such Lender’s direct or indirect holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s direct or indirect holding company with respect to capital or
      liquidity adequacy), then from time to time the applicable Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s direct or indirect holding company for any such reduction suffered.

   

  (c)  A certificate of a Lender setting forth in
      reasonable detail the amount or amounts necessary to compensate such Lender or its direct or indirect holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Company and shall be conclusive
      absent manifest error.  The applicable Borrower shall pay such Lender the amount shown as due on any such certificate within 30 days after receipt thereof.

   

  (d)  Failure or delay on the part of any Lender
      to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the applicable Borrower shall not be required
      to compensate a Lender pursuant to this Section for any increased costs or reductions incurred more than 120 days prior to the date that such Lender notifies the applicable Borrower of the Change in Law giving rise to such increased costs or
      reductions and of such Lender’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise
      to such increased costs or reductions is retroactive, then the 120-day period referred to above shall be extended to include the period of retroactive effect thereof.

   

  (e)  Notwithstanding any other provision of this
      Section 2.13, no Lender shall demand compensation for any increased costs or reduction referred to above if it shall not be the general policy or practice of such Lender to demand such compensation in similar circumstances and unless such demand is
      generally consistent with such Lender’s treatment of comparable borrowers of such Lender in the United States with respect to similarly affected commitments or loans under agreements with such borrowers having provisions similar to this Section 2.13
      (it being understood that this sentence shall not limit the discretion of any Lender to waive the right to demand such compensation in any given case).

   

  (f)  If any Lender shall subsequently recoup any
      costs (other than from the applicable Borrower) for which such Lender has previously been compensated by the applicable Borrower under this Section 2.13, such Lender shall remit to the applicable Borrower an amount equal to the amount of such
      recoupment.

   

    

  
    SECTION 2.14.  Break Funding Payments.

     

    (a)  With respect to Loans that are not SONIA
        Loans, in the event of (i) the payment of any principal of any Eurocurrency Loan prior to the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (ii) the 

     

   

  
    
      

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  conversion of any Eurocurrency Loan prior to the last day of the Interest Period applicable thereto, (iii) the failure to borrow, convert, continue or prepay any Eurocurrency Loan on the date
      specified in any notice delivered pursuant hereto (except in the case when such notice may be revoked under Section 2.09(d) or Section 2.12 and is revoked in accordance therewith), or (iv) the assignment of any Eurocurrency Loan other than on the
      last day of the Interest Period applicable thereto as a result of a request by the applicable Borrower pursuant to Section 2.17, then, in any such event, the applicable Borrower shall compensate each Lender for the loss (excluding loss of margin),
      cost and expense it may reasonably incur as a result of such event; provided, however, that the applicable Borrower shall not
      compensate any Lender for any cost of terminating or liquidating any hedge or related trading position (such as a rate swap, basis swap, forward rate transaction, interest rate option, cap, collar or floor transaction, swaption or any other similar
      transaction).  Such compensable loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan
      had such event not occurred, at the Adjusted LIBO Rate, the LIBO Rate or the Adjusted EURIBOR Rate, as the case may be, that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current
      Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such
      period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the applicable offshore interbank market for such Agreed Currency. 
      A certificate of any Lender setting forth in reasonable detail any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the applicable Borrower and shall be conclusive absent manifest error.  The
      applicable Borrower shall pay such Lender the amount shown as due on any such certificate within 30 days after receipt thereof.

   

  (b)  With respect to SONIA Loans, in the event
      of (i) the payment of any principal of any SONIA Loan other than on the Interest Payment Date applicable thereto (including as a result of an Event of Default), (ii) the conversion of any SONIA Loan other than on the Interest Payment Date applicable
      thereto, (iii) the failure to borrow, convert, continue or prepay any SONIA Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.12 and is revoked in accordance
      therewith) or (iv) the assignment of any SONIA Loan other than on the Interest Payment Date applicable thereto as a result of a request by the applicable Borrower pursuant to Section 2.17, then, in any such event, the applicable Borrower shall
      compensate each Lender for the loss, cost and expense attributable to such event; provided, however, that the applicable
      Borrower shall not compensate any Lender for any cost of terminating or liquidating any hedge or related trading position (such as a rate swap, basis swap, forward rate transaction, interest rate option, cap, collar or floor transaction, swaption or
      any other similar transaction).  A certificate of any Lender setting forth in reasonable detail any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the applicable Borrower and shall be
      conclusive absent manifest error.  The applicable 

    

   

  
    
      

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  Borrower shall pay such Lender the amount shown as due on any such certificate within 30 days after receipt thereof.

  

   

    

  SECTION 2.15.  Taxes.  (a)    Any
    and all payments by or on account of any obligation of any Borrower hereunder shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that if
    any Borrower shall be required to deduct any Taxes from such payments, then (i) if such Taxes are Indemnified Taxes or Other Taxes, the sum payable shall be increased as necessary so that after making all such required deductions (including such
    deductions applicable to additional sums payable under this Section) the Administrative Agent or Lender (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the applicable Borrower shall
    make such deductions, and (iii) the applicable Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law.

   

  (b)  In addition, the Borrowers shall pay any
      Other Taxes to the relevant Governmental Authority in accordance with applicable law.

   

  (c)  The Borrowers shall severally indemnify the
      Administrative Agent and each Lender, within 30 days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by
      or on account of any obligation of any Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom
      or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided, further, that the indemnification obligations of each Borrower under this Section 2.15 shall not apply if the Administrative Agent or applicable Lender is not seeking recovery of similar
      Indemnified Taxes or Other Taxes from other similarly situated borrowers.  A certificate setting forth in reasonable detail the amount of such payment or liability delivered to the Borrowers by a Lender, or by the Administrative Agent on its own
      behalf or on behalf of a Lender, shall be conclusive absent manifest error.

   

  (d)  Each Lender shall severally indemnify the
      Administrative Agent, within 30 days after written demand therefor, for the full amount of any Taxes attributable to such Lender that are paid or payable by the Administrative Agent in connection with this Agreement (but, in the case of any
      Indemnified Taxes or Other Taxes, only to the extent that the applicable Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes or Other Taxes and without limiting the obligation of the applicable Borrower to do so)
      and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate setting forth in reasonable
      detail the amount of such payment or liability delivered to the applicable Lender by the Administrative Agent shall be conclusive absent manifest error.

   

  
    
      

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  (e)  As soon as practicable after any payment of
      Indemnified Taxes or Other Taxes by the applicable Borrower to a Governmental Authority, the applicable Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing
      such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

   

  (f)  If the Administrative Agent or a Lender
      determines, in its good-faith judgment, that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the applicable Borrower or with respect to which the applicable Borrower has paid additional amounts pursuant to
      this Section 2.15, it shall pay over such refund to the applicable Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the applicable Borrower under this Section 2.15 with respect to the Taxes or Other Taxes
      giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that the applicable Borrower, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over to the applicable Borrower (plus any penalties, interest
      or other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority.  This Section shall not
      be construed to require the Administrative Agent or any Lender to make available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the applicable Borrower or any other Person.

   

  (g)  (i)  Any Lender that is entitled to an
      exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Company and the Administrative Agent, at the time or times reasonably requested by the Company or the Administrative Agent, such
      properly completed and executed documentation reasonably requested by the Company or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably
      requested by the Company or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company or the Administrative Agent as will enable the Company or the Administrative Agent to
      determine whether or not such Lender is subject to backup withholding or information reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation
      (other than such documentation set forth in Section 2.15(g)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material
      unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

   

  (ii) Without limiting the generality of the
      foregoing:

   

    

  (a) any Lender that is a U.S. Person shall
      deliver to the Company and the Administrative Agent on or prior to the date on which such Lender becomes a  

   

  
    
      

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  Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent),
      executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;

   

  (b) any Foreign Lender shall, to the extent it
      is legally entitled to do so, deliver to the Company and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from
      time to time thereafter upon the reasonable request of the Company or the Administrative Agent), whichever of the following is applicable:

   

  (i) in the case of a Foreign Lender claiming the
      benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from, or reduction
      of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from, or
      reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty;

   

  (ii) executed originals of IRS Form W-8ECI;

   

  (iii) in the case of a Foreign Lender claiming
      the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit D-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the
      Code, a “10 percent shareholder” of the Company within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed
      originals of IRS Form W-8BEN or W-8BEN-E, as applicable; or

   

  (iv) to the extent a Foreign Lender is not the
      beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-2 or Exhibit D-3, IRS Form W-9, and/or other certification
      documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the
      portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-4 on behalf of each such direct and indirect partner.

   

  
    
      

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  (c) any Foreign Lender shall, to the extent it
      is legally entitled to do so, deliver to the Company and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from
      time to time thereafter upon the reasonable request of the Company or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in withholding Tax, duly
      completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Company or the Administrative Agent to determine the withholding or deduction required to be made; and

   

  (d) If a payment made to a Lender under any Loan
      Document would be subject to  U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as
      applicable), such Lender shall deliver to the Company and the Administrative Agent, at the time or times prescribed by applicable law and at such time or times reasonably requested by the Administrative Agent or the Company, such documentation
      prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Administrative Agent or the Company as may be necessary for the Administrative Agent or the
      Company, as the case may be, to comply with its obligations under FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under FATCA and, as necessary, to determine the amount to deduct and withhold from such
      payment.  Solely for purposes of this Section 2.15(g)(ii), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

   

  Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or
    certification or promptly notify the Company and the Administrative Agent in writing of its legal inability to do so.

   

  SECTION 2.16.  Payments Generally; Pro Rata Treatment; Sharing of Setoffs.  (a)    Each Borrower shall make each payment
    required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under Sections 2.13, 2.14 or 2.15, or otherwise) (i) except with respect to principal of and interest on Loans denominated in a Designated Foreign
    Currency, prior to 2:00 p.m., Local Time, on the date when due, and (ii) with respect to principal and interest on Loans denominated in a Designated Foreign Currency shall be made in such Designated Foreign Currency, not later than the Applicable Time
    specified by the Administrative Agent on the dates specified herein, in each case, in immediately available funds, without setoff or counterclaim.  Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be
    deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon.  All such payments shall be made to such account as may be specified by the Administrative Agent for the account of the applicable Lenders,
    except that payments pursuant to Sections 2.13, 2.14, 2.15 and 10.03 shall be made directly to the Persons entitled thereto.  The Administrative Agent shall distribute any such payments 

  

   

  
    
      

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  received by it for the account of any other Person to the appropriate recipient
      promptly following receipt thereof.  If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest
      thereon shall be payable for the period of such extension (but in no case shall any payment so extended be due after the Maturity Date). All payments hereunder of principal or interest in respect of any Loan (or of any breakage indemnity in respect
      of any Loan) shall be made in the currency of such Loan; all other payments hereunder and under each other Loan Document shall be made in Dollars, except as otherwise expressly provided.  Any payment required to be made by the Administrative Agent
      hereunder shall be deemed to have been made by the time required if the Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing
      or settlement system used by the Administrative Agent to make such payment.

   

    

  (b)  If at any time insufficient funds are
      received by and available to the Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the
      parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of
      principal then due to such parties.

   

  (c)  If any Lender shall, by exercising any
      right of set off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans or participations in Swingline Loans resulting in such Lender receiving payment of a greater proportion of the aggregate
      amount of its Loans of the relevant Class and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other
      Lenders of such Class to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans of such Class; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price
      restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by any Borrower pursuant to and in accordance with the express terms of this Agreement or any
      payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or Participant, other than to the Company or any Subsidiary or Affiliate thereof (as to which the provisions of this
      paragraph shall apply).  Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against any
      Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Borrower in the amount of such participation.

   

    

  (d)  Unless the Administrative Agent shall have
      received written notice from the Company (or the applicable Borrowing Subsidiary) prior to the date on which  

   

  
    
      

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  any payment is due to the Administrative Agent for the account of the Lenders hereunder that the applicable Borrower will not make such
      payment, the Administrative Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due.  In such event, if the applicable Borrower
      has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount
      is distributed to it to but excluding the date of payment to the Administrative Agent, at the applicable Overnight Rate.

   

  (e)  If any Lender shall fail to make any
      payment required to be made by it pursuant to Section 2.04(c), 2.05(a) or 2.16(d), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent
      for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid.

   

  SECTION 2.17.  Mitigation Obligations; Replacement of Lenders.  (a)    If any Lender requests compensation under
    Section 2.13, or if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.15, or if any Borrower is required to pay any additional interest to any Lender
    pursuant to Section 2.21, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or
    affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.13, 2.15 or 2.21, as the case may be, in the future and (ii) would not subject such Lender to any
    unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender.

   

  (b)  If (i) any Lender requests compensation
      under Section 2.13, (ii) any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.15, (iii) any Borrower is required to pay any additional interest to any
      Lender pursuant to Section 2.21, (iv) any Lender becomes a Defaulting Lender, (v) any Lender is a Non-Consenting Lender under Section 2.20 or (vi) if any Lender does not consent to any proposed amendment, supplement, modification, consent or waiver
      of any provision of this Agreement or any other Loan Document that requires the consent of each of the Lenders or each of the Lenders affected thereby (so long as the consent of the Required Lenders has been obtained), then the Company may, at its
      sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 10.04),
      all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided
      that (i) to the extent required by Section 10.04, the Company shall have received the prior written consent of the Administrative Agent and the Swingline Lenders, which consent shall not be unreasonably withheld, (ii) such Lender shall have received
      payment of an amount equal 

    

   

  
    
      

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  to the outstanding principal of its Loans and participations in Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding
        principal and accrued interest and fees) or the Company (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.13 or payments required to be made pursuant to
        Section 2.15 or additional interest required pursuant to Section 2.21, such assignment will result in a material reduction in such compensation or payments.  A Lender shall not be required to make any such assignment and delegation if, prior
        thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply.  Each party hereto agrees that (x) an assignment pursuant to this Section 2.17 may be
        effected pursuant to an Assignment and Assumption executed by the Company, the Administrative Agent and the assignee and (y) the assignor Lender need not be a party thereto in order for such assignment to be effective and shall be deemed to have
        consented to and be bound by the terms thereof.

  

   

    

  SECTION 2.18.  Defaulting Lenders.

   

  Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such
    Lender is a Defaulting Lender:

   

  (a) fees shall cease to accrue on the unfunded
      portion of the Commitment of such Defaulting Lender pursuant to Section 2.10;

   

  (b) the Commitment and Revolving Exposure of
      such Defaulting Lender shall not be included in determining whether the Required Lenders or any other requisite Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to
      10.02); provided, that this clause (b) shall not apply to the vote of a Defaulting Lender in the case of an amendment, waiver or other modification requiring the consent of all Lenders or
      each Lender affected thereby;

   

  (c) if any Swingline Exposure exists at the time
      such Lender becomes a Defaulting Lender then:

   

  (i) all or any part of the Swingline Exposure of
      such Defaulting Lender shall be reallocated among the non-Defaulting Lenders in accordance with their respective Applicable Percentages, but only to the extent that the sum of all non-Defaulting Lenders’ Revolving Exposures plus such Defaulting
      Lender’s Swingline Exposure does not exceed the total of all non-Defaulting Lenders’ Commitments; provided that no reallocation under this clause (i) shall constitute a waiver or release of
      any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a non-Defaulting Lender as a result of such non-Defaulting Lender’s increased exposure following such
      reallocation;

   

  
    
      

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  (ii) if the reallocation described in clause (i)
      above cannot, or can only partially, be effected, the Company shall within one Business Day following notice by the Administrative Agent prepay such Swingline Exposure; and

   

  (d) so long as such Lender is a Defaulting
      Lender, no Swingline Lender shall be required to fund any Swingline Loan, unless it is satisfied that the related exposure will be fully covered by the Commitments of the non-Defaulting Lenders, and participating interests in any newly made Swingline
      Loan shall be allocated among non-Defaulting Lenders in a manner consistent with Section 2.18(c)(i) (and such Defaulting Lender shall not participate therein).

   

  If (i) a Bankruptcy Event with respect to a Lender Parent shall occur following the date hereof and for so long as such event shall continue or (ii) any Swingline Lender
    has a good faith belief that any Lender has defaulted in fulfilling its obligations under one or more other agreements in which such Lender commits to extend credit, no Swingline Lender shall be required to fund any Swingline Loan, unless the Swingline
    Lenders shall have entered into arrangements with the Company or such Lender, satisfactory to the Swingline Lenders to defease any risk to the Swingline Lenders in respect of such Lender hereunder.

   

  In the event that the Administrative Agent, the Company and each Swingline Lender agree that a Defaulting Lender has adequately remedied all matters that caused such
    Lender to be a Defaulting Lender, then the Swingline Exposure of the Lenders shall be readjusted to reflect the inclusion of such Lender’s Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders (other than
    Swingline Loans) as the Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Applicable Percentage; provided that no
    adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company while such Lender was a Defaulting Lender; provided, further, that, except as otherwise expressly agreed by the affected parties, no change hereunder of a Lender’s status from a Defaulting Lender to a non-Defaulting Lender will constitute a waiver
    or release of any claim of any party hereunder arising from such  Lender’s having been a Defaulting Lender..

   

  SECTION 2.19.  Increase in Revolving Commitments.  (a)  The Company may on one or more occasions during the Availability
    Period request, by written notice to the Administrative Agent, the establishment of Incremental Revolving Commitments to be provided by Incremental Lenders and in connection therewith cause additional Swingline Commitments to be provided by such
    Incremental Lenders (not exceeding, in the aggregate for all such new or increased Swingline Commitments, the aggregate amount of such Incremental Revolving Commitments); provided, however, that (i) the amount of each Incremental Revolving Facility shall be no less than $75,000,000 and (ii) the aggregate amount of all the Incremental Revolving Commitments established
    hereunder shall not exceed $1,000,000,000.  Each such notice shall specify (i) the date on which the Company proposes that the Incremental Revolving Commitments shall be effective, which shall be a date not less than 10 Business Days (or such shorter
    period as may be agreed to by the 

  

   

  
    
      

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  Administrative Agent) after the date on which such notice is delivered to the
      Administrative Agent and (ii) the amount of the Incremental Revolving Commitments being requested (it being agreed that (A) any Lender approached to provide any Incremental Revolving Commitment may elect or decline, in its sole discretion, to provide
      such Incremental Revolving Commitment and (B) any Person other than an existing Lender that the Company proposes to become an Incremental Lender shall be subject to the approval of the Administrative Agent and the Swingline Lenders (which approval
      shall not be unreasonably withheld).

   

    

  (b)  The terms and conditions of any Incremental
      Revolving Commitments and Loans and other extensions of credit to be made thereunder shall be identical to those of the Revolving Commitments hereunder and the Loans and other extensions of credit made thereunder, and shall be treated as a single
      class with such Revolving Commitments and Loans.

   

  (c)  The Incremental Revolving Commitments shall
      be effected pursuant to one or more Incremental Facility Amendments executed and delivered by the Company, each other Borrower, if any, each Incremental Lender providing such Incremental Revolving Commitments and the Administrative Agent; provided that no Incremental Revolving Facility or Incremental Revolving Commitments or new or increased Swingline Commitments relating thereto will become effective unless (i) no Default shall
      have occurred and be continuing at the time of, and immediately after giving effect to, the effectiveness of such Incremental Revolving Commitments, (ii) on the date of effectiveness thereof, the representations and warranties set forth in Article
      III hereof shall be true and correct in all material respects on and as of the date of such effectiveness, except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall
      have been true and correct in all material respects as of such earlier date, (iii) the Administrative Agent shall have received a certificate dated the date of such effectiveness confirming satisfaction as of such date of the conditions referred to
      in clauses (i) and (ii), (iv) the Company shall make any payments required to be made pursuant to Section 2.14 in connection with such Incremental Revolving Commitments and the related transactions under this Section, and (v) the Company shall have
      delivered to the Administrative Agent such legal opinions, board resolutions, secretary’s certificates, officer’s certificates and other documents, consistent with those delivered under Section 4.01 hereof, as shall reasonably be requested by the
      Administrative Agent in connection with such Incremental Revolving Facility.  Each Incremental Facility Amendment may, without the consent of any Lender other than the Incremental Lenders party thereto, effect such amendments to this Agreement as may
      be necessary or appropriate, in the opinion of the Administrative Agent, to give effect to the provisions of this Section.

   

  (d)  Upon the effectiveness of an Incremental
      Revolving Commitment of any Incremental Lender, (i) such Incremental Lender shall be deemed to be a “Revolving Lender” and, as applicable, a Swingline Lender, hereunder, and shall thereafter be entitled to all the rights of, and benefits accruing to,
      Lenders hereunder and shall be bound by all agreements, acknowledgements and other obligations of Lenders hereunder, and (ii)(A) such Incremental Revolving Commitment shall constitute (or, in the event such 

    

   

  
    
      

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  Incremental Lender already has a Revolving Commitment,
        shall increase) the Revolving Commitment of such Incremental Lender and (B) the aggregate Revolving Commitments shall be increased by the amount of such Incremental Revolving Commitment, in each case, subject to further increase or reduction from
        time to time as set forth in the definition of the term “Revolving Commitment”.  For the avoidance of doubt, upon the effectiveness of any Incremental Revolving Commitments, the Revolving Exposure of the Incremental Lender holding such Commitment,
        and the Applicable Percentages of all the Revolving Lenders, shall automatically be adjusted to give effect thereto.

  

   

    

  (e)  On the date of effectiveness of any
      Incremental Revolving Commitments, each Revolving Lender shall assign to each Incremental Lender holding such Incremental Revolving Commitment, and each such Incremental Lender shall purchase from each Revolving Lender, at the principal amount and in
      the currency thereof (together with accrued interest in the applicable currency), such interests in the outstanding Revolving Loans and funded participations in Swingline Loans outstanding on such date as shall be necessary in order that, after
      giving effect to all such assignments and purchases, such Revolving Loans and funded participations in Swingline Loans will be held by all the Revolving Lenders (including such Incremental Lenders) ratably in accordance with their Applicable
      Percentages after giving effect to the effectiveness of such Incremental Revolving Commitment.

   

  (f)  The Administrative Agent shall notify the
      Lenders promptly upon receipt by the Administrative Agent of any notice from the Company referred to in paragraph (a) of this Section and of the effectiveness of any Incremental Revolving Facility, in each case advising the Lenders of the details
      thereof and of the Applicable Percentages of the Revolving Lenders after giving effect thereto and of the assignments required to be made pursuant to paragraph (e) of this Section.

   

  SECTION 2.20.   Extension of Maturity Date.  (a)    The Company may, on no more than two occasions during the Availability
    Period, by written notice (an “Extension Notice”) delivered to the Administrative Agent not less than 30 days and not more than 60 days prior to any anniversary of the Effective Date, request
    a one-year extension of the Maturity Date then in effect (the “Existing Maturity Date”) to be effective on such anniversary (the “Extension
        Effective Date”); provided that (i) no Default shall have occurred and be continuing on the Extension Effective Date, (ii) the representations and warranties set forth in
    Article III hereof shall be true and correct in all material respects on and as of the Extension Effective Date, except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties
    shall have been true and correct in all material respects as of such earlier date, and (iii) the Administrative Agent shall have received a certificate, dated the Extension Effective Date and signed by a Vice President or a Financial Officer of the
    Company, confirming compliance with the conditions precedent set forth in clauses (i) and (ii) of this paragraph (a).

   

  

  (b)  The effectiveness of any extension of the
      Maturity Date shall require the prior written consent of the Required Lenders, each Lender participating in such extension of the Maturity Date, and the Administrative Agent.  The Administrative Agent  

   

  
    
      

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  shall promptly furnish a copy of the Extension Notice to each Lender, and shall request that each Lender either agree or not agree to such
      extension no later than 10 days prior to the requested Extension Effective Date.  Any Lender not responding within the above time period shall be deemed not to have consented to such extension.  The decision to agree or withhold agreement to any
      extension of the Maturity Date hereunder shall be at the sole discretion of each Lender.  The Revolving Commitment of any Lender that has declined to agree to any requested extension of the Maturity Date (a “Non-Consenting Lender”) shall terminate on the Existing Maturity Date, and the principal amount of any outstanding Loans made by such Lender, together with any accrued interest thereon, and any accrued fees and other amounts
      payable to or for the account of such Lender hereunder, shall be due and payable on the Existing Maturity Date, and such Non-Consenting Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.13, 2.14,
      2.15 and 10.03 with respect to facts and circumstances occurring prior to the date it ceased being a party.  Notwithstanding the foregoing provisions of this paragraph, the Company shall have the right, prior to an Extension Effective Date, pursuant
      to, and in accordance with, Section 2.17(b), to replace a Non-Consenting Lender with a Lender or other financial institution that will agree to an extension of the Maturity Date.

   

  SECTION 2.21.  Additional Reserve Costs.

   

  (a)  If and so long as any Lender is required to
      comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements
      reflected in the Statutory Reserve Rate) in respect of any of such Lender’s Eurocurrency Loans or SONIA Loans in any Designated Foreign Currency, such Lender may require the applicable Borrower to pay, contemporaneously with each payment of interest
      on each of such Lender’s Eurocurrency Loans or SONIA Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to
      such Loan.

   

  (b)  Any additional interest owed pursuant to
      paragraph (a) above shall be determined by the relevant Lender, which determination shall be conclusive absent manifest error, and notified to the applicable Borrower (with a copy to the Administrative Agent) at least five Business Days before each
      date on which interest is payable for the relevant Loan, and such additional interest so notified to the applicable Borrower by such Lender shall be payable to the Administrative Agent for the account of such Lender on each date on which interest is
      payable for such Loan.

   

  SECTION 2.22.  [Reserved.]

   

  SECTION 2.23.  Designation of Borrowing Subsidiaries.

   

  

  (a)  The Company may at any time and from time
      to time designate any Wholly-Owned Subsidiary as a Borrowing Subsidiary by delivery to the Administrative Agent of a Borrowing Subsidiary Joinder Agreement executed by such Subsidiary and  

   

  
    
      

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  by the Company, and upon such delivery and the satisfaction of the other conditions set forth in Section 4.03, such Subsidiary shall for all
      purposes of this Agreement be a Borrower and a party to this Agreement.  Any Borrowing Subsidiary shall continue to be a Borrowing Subsidiary until the Company shall have executed and delivered to the Administrative Agent a Borrowing Subsidiary
      Termination Agreement with respect to such Subsidiary, whereupon such Subsidiary shall cease to be a Borrowing Subsidiary hereunder.  Notwithstanding the foregoing, (a) no Borrowing Subsidiary Joinder Agreement shall become effective as to any
      Subsidiary if, within a period of time after the delivery of the applicable Borrowing Subsidiary Joinder Agreement to be reasonably determined by the Administrative Agent, any Lender shall have advised the Administrative Agent in writing that it
      shall be unlawful for such Subsidiary to become a Borrower hereunder or it shall be unlawful for such Lender to make Loans or otherwise extend credit to such Subsidiary as provided herein and (b) no Borrowing Subsidiary Termination Agreement will
      become effective as to any Borrowing Subsidiary until all Loans made to such Borrowing Subsidiary shall have been repaid and all amounts payable by such Borrowing Subsidiary in respect of interest and/or fees (and, to the extent notified by the
      Administrative Agent, any Lender, any other amounts payable hereunder by such Borrowing Subsidiary) shall have been paid in full; provided that such Borrowing Subsidiary Termination
      Agreement shall be effective to terminate the right of such Borrowing Subsidiary to request or receive further extensions of credit under this Agreement. As soon as practicable upon receipt of a Borrowing Subsidiary Joinder Agreement, the
      Administrative Agent shall send a copy thereof to each Lender.

   

  (b)  The Obligations of each Borrowing
      Subsidiary shall be guaranteed by the Company pursuant to the Guaranty contained in Article IX.  Notwithstanding anything contained to the contrary herein or in any other Loan Document and
      without in any way limiting the obligations of the Company in Article X or otherwise, (i) no Borrowing Subsidiary shall be obligated with respect to any Obligations of the Company or of any
      other Borrowing Subsidiary, (ii) the Obligations owed by a Borrowing Subsidiary shall be several and not joint with the Obligations of the Company or of any other Borrowing Subsidiary and (iii) no Borrowing Subsidiary shall be obligated as a
      guarantor under Article IX with respect to the Obligations.

   

  (c)  Each Subsidiary of the Company that is or
      becomes a “Borrowing Subsidiary” pursuant to this Section hereby irrevocably appoints the Company as its agent for purposes of (i) the giving of notices and making of elections under the terms of this Agreement and (ii) the receipt of the proceeds of
      any Loans made by the Lenders to such Borrowing Subsidiary hereunder, it being understood, for the avoidance of doubt, that any Borrowing Subsidiary may give such notices directly and may elect to directly receive the proceeds of such Loans.

   

    

  
    SECTION 2.24.  Sustainability Adjustments.

     

    (a)  On each Sustainability Pricing Adjustment
        Date (as defined below) following the date on which the Company provides a Pricing Certificate in respect of the most recently ended fiscal year (beginning with the fiscal year ended October 31, 2021), (i) the Applicable Rate shall be increased or
        decreased (or neither increased nor 

     

   

  
    
      

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  decreased),

      as applicable, pursuant to the Sustainability Rate Adjustment as set forth in such Pricing Certificate and (ii) the Commitment Fee Rate shall be increased or decreased (or neither increased nor decreased), as applicable, pursuant to the
      Sustainability Fee Adjustment as set forth in the Pricing Certificate.  For purposes of the foregoing, (A) each of the Sustainability Rate Adjustment and the Sustainability Fee Adjustment shall be determined as of the fifth Business Day following
      receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to Section 5.01(e) based upon the KPI Metrics set forth in such Pricing Certificate and the calculations of the Sustainability Rate Adjustment and the Sustainability Fee
      Adjustment, as applicable, set forth therein (each such day, a “Sustainability Pricing Adjustment Date”) and (B) each change in the Applicable Rate and the Commitment Fee Rate resulting from
      a Pricing Certificate shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the
      case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of Section 5.01(e)).

   

  (b)  For the avoidance of doubt, only one
      Pricing Certificate may be delivered in respect of any fiscal year.  It is further understood and agreed that the Applicable Rate will never be reduced or increased by more than 0.05%, and the Commitment Fee Rate will never be reduced or increased by
      more than 0.01%, in each case pursuant to the Sustainability Rate Adjustment or the Sustainability Fee Adjustment, as applicable, during any 12-month period.  For the avoidance of doubt, any adjustment to the Applicable Rate by reason of meeting one
      or more KPI Metrics in any fiscal year shall not be cumulative year-over-year.  Each applicable adjustment shall only apply until the date on which the next adjustment is due to take place.

   

  (c)  It is hereby understood and agreed that if
      no such Pricing Certificate is delivered by the Company within the period set forth in Section 5.01(e), the Sustainability Rate Adjustment will be positive 0.05% and the Sustainability Fee Adjustment will be a positive 0.01%, in each case commencing
      on the applicable Sustainability Pricing Adjustment Date and continuing until the Company delivers a Pricing Certificate to the Administrative Agent.

   

  (d)  If (i)(A) the Company or any Lender becomes
      aware of any material inaccuracy in the Sustainability Rate Adjustment, the Sustainability Fee Adjustment or the KPI Metrics as reported in a Pricing Certificate (any such material inaccuracy, a “Pricing

          Certificate Inaccuracy”) and, in the case of any Lender, such Lender delivers, not later than 10 Business Days after obtaining knowledge thereof, a written notice to the Administrative Agent describing such Pricing Certificate
      Inaccuracy in reasonable detail (which description shall be shared with each Lender and the Company), or (B) the Company and the Lenders agree that there was a Pricing Certificate Inaccuracy at the time of delivery of a Pricing Certificate, and (ii)
      a proper calculation of the Sustainability Rate Adjustment, the Sustainability Fee Adjustment or the KPI Metrics would have resulted in an increase in the Applicable Rate for any period, then the Company shall be obligated to pay to the
      Administrative Agent for the account of the applicable Lenders, as the case may be, promptly on demand by the Administrative Agent (or, after the 

   

  
    
      

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  occurrence of an actual or deemed entry of an order for relief with respect to any Borrower under the Bankruptcy Code (or any comparable
      event under non-U.S. Debtor Relief Laws), automatically and without further action by the Administrative Agent, any Lender), but in any event within five Business Days after the Company has received written notice of, or has agreed in writing that
      there was, a Pricing Certificate Inaccuracy, an amount equal to the excess of (1) the amount of interest and fees that should have been paid for such period over (2) the amount of interest
      and fees actually paid for such period.  If the Company becomes aware of any Pricing Certificate Inaccuracy and, in connection therewith, if a proper calculation of the Sustainability Rate Adjustment, the Sustainability Fee Adjustment or the KPI
      Metrics would have resulted in a decrease in the Applicable Rate and the Commitment Fee Rate for any period, then, upon receipt by the Administrative Agent of notice from the Company of such Pricing Certificate Inaccuracy (which notice shall include
      corrections to the calculations of the Sustainability Rate Adjustment, the Sustainability Fee Adjustment or the KPI Metrics, as applicable), commencing on the Business Day following receipt by the Administrative Agent of such notice, the Applicable
      Rate shall be adjusted to reflect the corrected calculations of the Sustainability Rate Adjustment, the Sustainability Fee Adjustment or the KPI Metrics, as applicable.It is understood and agreed that any Pricing Certificate Inaccuracy shall
    not constitute a Default or Event of Default; provided that the Company complies with the terms of this Section 2.24 with respect to such Pricing Certificate Inaccuracy. Notwithstanding
    anything to the contrary herein, unless such amounts shall be due upon the occurrence of an actual or deemed entry of an order for relief with respect to any Borrower under the Bankruptcy Code (or any comparable event under non-U.S. Debtor Relief
    Laws), (i) any additional amounts required to be paid pursuant the immediate preceding paragraph shall not be due and payable until five Business Days after a written demand is made for such payment by the Administrative Agent in accordance with such
    paragraph, (ii) any nonpayment of such additional amounts prior to or upon such date that is five Business Days after such written demand for payment by Administrative Agent shall not constitute a Default (whether retroactively or otherwise) and (iii)
    none of such additional amounts shall be deemed overdue prior to such date that is five Business Days after such written demand or shall accrue interest at the applicable default rate specified in Section 2.11 prior to such date that is five Business
    Days after such written demand.

   

  (e)  Each party hereto hereby agrees that
      neither the Administrative Agent nor the Sustainability Structuring Agent shall have any responsibility for (or liability in respect of) reviewing, auditing or otherwise evaluating any calculation by the Company of any Sustainability Rate Adjustment
      or any Sustainability Fee Adjustment (or any of the data or computations that are part of or related to any such calculation) set forth in any Pricing Certificate (and the Administrative Agent and the Sustainability Structuring Agent may rely
      conclusively on any such certificate, without further inquiry).  In addition, the Company shall have no obligation to disclose any further data, computations or other information to the Administrative Agent, the Sustainability Structuring Agent or
      any Lender with respect to any KPI Metric, the GHG Reduction Target A, the Diversity 

    

   

  
    
      

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  and Inclusion Rate Target B, the GHG Reduction Threshold
        A or the Diversity and Inclusion Rate Threshold B.

  

   

    

  (f)   To the extent a Sustainability Structuring
      Agent ceases to be a Lender, the Company shall use commercially reasonable efforts to seek to appoint another Person that is a Lender to fulfill the role such Sustainability Structuring Agent.

   

  ARTICLE III

    

    Representations and Warranties

   

  The Company represents and warrants, and each Borrower represents and warrants as to itself and its subsidiaries, to the Lenders that:

   

  SECTION 3.01.  Organization; Powers.  Each of the Borrowers and the Significant Subsidiaries is duly organized, validly
    existing and in good standing (if applicable) under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the
    aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business and in good standing (if applicable) in every jurisdiction where such qualification is required.

   

  SECTION 3.02.  Authorization; Enforceability.  The Transactions to be entered into by each Borrower are within such
    Borrower’s corporate powers and have been duly authorized by all necessary corporate and, if required, stockholder action.  This Agreement has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation of the
    Borrowers, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether
    considered in a proceeding in equity or at law.

   

  SECTION 3.03.  Governmental Approvals; No Conflicts.  The Transactions (a) do not require any consent or approval of,
    registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect, (b) will not violate any applicable law or regulation or the charter, by-laws or other
    organizational documents of any Borrower or any of the Significant Subsidiaries or any order of any Governmental Authority, (c) will not violate or result in a default under any indenture, material agreement or other material instrument binding upon
    any Borrower or any of the Significant Subsidiaries or its assets, and (d) will not result in the creation or imposition of any Lien on any material amount of assets of any Borrower or any of the Significant Subsidiaries other than Liens permitted
    under this Agreement.

   

  SECTION 3.04.  Financial Condition; No Material Adverse Change.

    (a)   The Company has heretofore furnished to the Administrative Agent for delivery to the Lenders its consolidated balance sheet and statements of income, stockholders’ equity and cash flows as of and for the fiscal year ended October 31, 2020,
    reported on by Ernst & 

  

   

  
    
      

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  Young LLP, independent registered public accounting firm.  Such financial statements
      present fairly, in all material respects, the financial position and results of operations and cash flows of the Company and the Subsidiaries as of such date and for such period in accordance with GAAP.

   

    

  (b)  Since October 31, 2020, there has been no
      material adverse change in the actual business, assets, operations or financial condition of the Company and the Subsidiaries, taken as a whole.

   

  SECTION 3.05.  Litigation and Environmental Matters.  (a)    Except as disclosed in the Company’s Annual Report on
    Form 10-K for the fiscal year ended October 31, 2020, the quarterly reports on Form 10-Q or current reports on Form 8-K filed subsequent thereto but prior to the Effective Date, or any amendments thereof filed subsequent thereto but prior to the
    Effective Date, and except as set forth on Schedule 3.05, there are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending or, to the knowledge of the Company, threatened against any Borrower or any of the
    Significant Subsidiaries (i) that could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve this Agreement or the Transactions.

   

  (b)  Except as disclosed in the Company’s Annual
      Report on Form 10-K for the fiscal year ended October 31, 2020, the quarterly reports on Form 10-Q or current reports on Form 8-K filed subsequent thereto but prior to the Effective Date, or any amendments thereof filed subsequent thereto but prior
      to the Effective Date, except as set forth on Schedule 3.05 and except with respect to any other matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, no Borrower or any of the
      Significant Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, or
      (iii) has received notice of any claim with respect to any Environmental Liability.

   

  SECTION 3.06.  Compliance with Laws and Agreements.  None of the Borrowers or any of the Significant Subsidiaries or any
    of their respective properties or assets is in violation of, nor will the continued operation of their properties and assets as currently conducted violate, any law, rule or regulation or indenture, agreement or other instrument, or is in default with
    respect to any judgment, writ, injunction, decree or order of any Governmental Authority or indenture, agreement or other instrument, where such violation or default could reasonably be expected to result in a Material Adverse Effect.  No Default has
    occurred and is continuing.

   

  SECTION 3.07.  Investment Company Status.  Neither the Company nor any of the Borrowing Subsidiaries is required to
    register as an “investment company” under the Investment Company Act of 1940.

   

  SECTION 3.08.  Taxes.  Each of the Company and the Subsidiaries has timely filed or caused to be filed all Tax returns
    and reports required by law to have been 

  

   

  
    
      

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  filed, and has paid or caused to be paid all Taxes shown to be due and payable on such Tax returns, except (a) any Taxes that are being contested in good faith by appropriate proceedings
      and for which the Company or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to make such filing or make such payment could not reasonably be expected to result in a Material Adverse
      Effect.

   

    

  SECTION 3.09.  ERISA.  No ERISA
    Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect.  Any underfunding
    with respect to one or more Plans (based on the assumptions used for purposes of Financial Accounting Standards No. 87) could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

   

  SECTION 3.10.  Federal Reserve Regulations.  (a)    Neither the Company nor any of the Subsidiaries is engaged
    principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock.

   

  (b)  No part of the proceeds of any Loan will be
      used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulation T, Regulation U
      and Regulation X.  If required by law and requested by the Administrative Agent or any Lender, each Borrower will furnish to the Administrative Agent and each Lender a statement to
        the foregoing effect in conformity with the requirements of FR Form G-3 or FR Form U-1 referred to in Regulation U.

   

  SECTION 3.11.  Pari Passu Status.  The obligations of the Company and each of the Borrowing Subsidiaries under this
    Agreement rank, and will rank, at least pari passu in priority of payment and in all other respects with all unsecured Indebtedness of the Company and the Borrowing Subsidiaries.

   

  SECTION 3.12.  Anti-Corruption Laws and Sanctions.  The Company has implemented and maintains in effect policies and procedures designed to promote compliance by the Company, its Subsidiaries and their respective directors, officers, employees and Borrower Agents with
      Anti-Corruption Laws and applicable Sanctions.  None of the Company or any Subsidiary of the Company is a Sanctioned Person.  The Company and its Subsidiaries and, to the knowledge of the Company, its and their respective directors, officers,
      employees and Borrower Agents are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.  No proceeds of any Loans will be used directly, or
      to the knowledge of the Company, indirectly for the purpose of financing the activities of any Sanctioned Person or in any Sanctioned Country (unless, in each case, authorized by Sanctions), or for the purpose of engaging in any activity in violation
      of Sanctions.

   

  
    
      

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  ARTICLE IV

    

    Conditions

   

  SECTION 4.01.  Effective Date.  The obligations of the Lenders to make Loans and acquire participations in Swingline
    Loans pursuant hereto, shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 10.02):

   

  (a)         The Administrative Agent (or its counsel) shall have
        received from the Company, each Lender and the Administrative Agent either (i) a counterpart of this Agreement (which may include telecopy or electronic transmission of a signed signature page of this Agreement) signed on behalf of such party or
        (ii) written evidence satisfactory to the Administrative Agent that such party has signed a counterpart of this Agreement.

   

  (b)          The Administrative Agent shall have received favorable
        written opinions (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of (i) Rick Hansen, Deputy General Counsel, Corporate and Assistant Secretary of the Company and (ii) Gibson, Dunn & Crutcher LLP, external
        counsel to the Company, in each case in form and substance reasonably satisfactory to the Administrative Agent.  The Company hereby requests such counsel to deliver such opinion.

   

  (c)          The Administrative Agent shall have received such documents
        and certificates as the Administrative Agent may reasonably request relating to the organization, existence and good standing of the Company in its jurisdiction of organization, the authorization of the Transactions and any other legal matters
        relating to the Company, the Subsidiaries, this Agreement or the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent.

   

  (d)          The Administrative Agent shall have received a certificate
        dated the Effective Date signed by a Vice President or a Financial Officer of the Company confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section 4.02 as of such date (but without excluding the representation and
        warranty set forth in Section 3.04(b) or Section 3.05).

   

  (e)          All fees, cost reimbursements and out-of-pocket expenses
        accrued to or required to be paid or reimbursed on or prior to Effective Date pursuant hereto or pursuant to the Commitment Letter (including upfront fees), to the extent invoiced prior to (or, in the case of cost reimbursement and out-of-pocket
        expenses, not fewer than two Business Days prior to) the Effective Date, shall have been paid or will be paid on Effective Date substantially concurrently with the effectiveness of this Agreement.  The principal of and accrued interest on any loans
        outstanding, and all fees and other amounts accrued or owing, under the Existing Five-Year Credit Agreement and the Existing 364-Day Credit Agreement (other than in respect of contingent obligations with respect to which no claims have been made)
        shall have been paid in full and all commitments under the Existing Five-Year Credit Agreement and the Existing 364-Day Credit Agreement shall have been terminated substantially concurrently with the effectiveness of this Agreement.

   

  
    
      

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  (f)          The Administrative Agent shall have received all
        documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation.

  

  

  The Administrative Agent shall notify the Company and the Lenders of the Effective Date, and such notice shall be conclusive and binding.  Notwithstanding the foregoing,
    the Credit Agreement in the form hereof and obligations of the Lenders to make Loans hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 10.02) at or prior to 5:00 p.m., New York City
    time, on June 17, 2021 (and, in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time).

   

  SECTION 4.02.  Each Credit Event.  The obligation of each Lender to make a Loan on the occasion of any Borrowing is
    subject to the satisfaction of the following conditions:

   

  (a)  The representations and warranties of the
      Borrowers set forth in this Agreement (other than the representations and warranties set forth in Section 3.04(b) and Section 3.05) shall be  (x) in the case of representations and warranties that are qualified as to materiality, true and correct,
      and (y) in the case of representations and warranties that are not qualified as to materiality, true and correct in all material respects, on and as of the date of such Borrowing.

   

  (b)  At the time of and immediately after giving
      effect to such Borrowing, no Default shall have occurred and be continuing.

   

  Each Borrowing shall be deemed to constitute a representation and warranty by the Company and each applicable Borrower on the date thereof as to the matters specified in
    paragraphs (a) and (b) of this Section.

   

  SECTION 4.03.  Credit Extensions to New Borrowing Subsidiaries.  Notwithstanding anything to the contrary in Section 2.23, the obligation of
    each Lender to make a Loan on the occasion of the initial Borrowing to or for the account of any Borrowing Subsidiary designated pursuant to Section 2.23 shall not become effective until the date on which each of the following additional conditions
    shall be satisfied (unless waived in accordance with Section 10.02):

   

  (a)  The Administrative Agent shall have
      received such Borrowing Subsidiary’s Borrowing Subsidiary Agreement, duly executed by all parties thereto.

   

  (b)  The Administrative Agent shall have
      received a favorable written opinion (addressed to the Administrative Agent and the Lenders) of counsel for such Borrowing Subsidiary (or, where customary, of counsel to the Administrative Agent) in form and substance reasonably satisfactory to the
      Administrative Agent.

   

    

  (c)  The Administrative Agent shall have
      received such customary documents and certificates as the Administrative Agent or its counsel may reasonably  

   

  
    
      

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  request relating to the organization, existence and good standing (to the extent such concept is relevant in the applicable jurisdiction of
      organization) of such Borrowing Subsidiary, the authorization of the Transactions insofar as they relate to such Borrowing Subsidiary and any other legal matters relating to such Borrowing Subsidiary, its Borrowing Subsidiary Agreement or such
      Transactions, all in form and substance reasonably satisfactory to the Administrative Agent.

   

  (d)  The Administrative Agent shall have
      received all documentation and other information reasonably requested by the Administrative Agent and required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot
      Act and the Beneficial Ownership Regulation, with respect to such Borrowing Subsidiary.

   

  ARTICLE V

    

    Affirmative Covenants

   

  Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full, the
    Company covenants and agrees with the Lenders that:

   

  SECTION 5.01.  Financial Statements and Other Information.  The Company will furnish to the Administrative Agent for
    delivery to each Lender:

   

  (a)  on or before the earlier of (i) the date by
      which the Annual Report on Form 10-K of the Company (after giving effect to any extension thereof) for each fiscal year is required to be filed under the rules and regulations of the SEC and (ii) 90 days after the end of such fiscal year, its audited
      consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by Ernst
      & Young LLP or other independent registered public accounting firm of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the
      effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Company and the Subsidiaries on a consolidated basis in accordance with GAAP consistently applied;

   

  (b)  on or before the earlier of (i) the date by
      which the Quarterly Report on Form 10-Q of the Company for each of the first three fiscal quarters of each fiscal year is required to be filed under the rules and regulations of the SEC (after giving effect to any extension thereof) and (ii) 45 days
      after the end of each of the first three fiscal quarters of such fiscal year, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed
      portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial
      

    

   

  
    
      

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  Officers as presenting fairly in all material respects
        the financial condition and results of operations of the Company and the Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes;

  

   

    

  (c)  not later than the date by which financial
      statements are required to be delivered under clause (a) or (b) above, a certificate of a Financial Officer of the Company (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any
      action taken or proposed to be taken with respect thereto and (ii) setting forth reasonably detailed calculations demonstrating compliance with Section 6.05;

   

  (d)  promptly following any request therefor, such
      other information regarding the operations, business affairs and financial condition of the Company or any Subsidiary, or compliance with the terms of this Agreement or with the requirements of the Patriot Act, the Beneficial Ownership Regulation or
      any other “know your customer” or similar laws or regulations, as the Administrative Agent or any Lender may reasonably request (it being understood that the Company shall not be required to provide any information which is subject to confidentiality
      restrictions, the nature of which prohibit such disclosure notwithstanding the provisions of Section 10.12 hereof); and

   

  (e)  as soon as available, and in any event
      within 245 days following the end of each fiscal year of the Company (commencing with the fiscal year ending October 31, 2021), a Pricing Certificate for the most recently-ended fiscal year; provided
      that for any fiscal year the Company may elect not to deliver a Pricing Certificate, and such election shall not constitute a Default or Event of Default (but such failure to so deliver a Pricing Certificate by the end of such 245-day period shall
      result in the Sustainability Rate Adjustment being applied as set forth in Section 2.24).

   

  All information, documents and other materials that the Company is obligated to deliver to the Administrative Agent under this Agreement, including all notices, requests,
    and other reports, certificates and other information materials, but excluding any such information that (i) is required to be delivered pursuant to clauses (a) and (b) of this Section 5.01, (ii) relates to a request for a new, or a conversion of an
    existing, Borrowing or other extension of credit (including any Interest Election Request or Interest Period relating thereto), (iii) relates to the payment of any principal or other amount due under this Agreement prior to the scheduled date therefor,
    (iv) provides notice of any Default or Event of Default, or (v) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any Borrowing or other extension of credit hereunder (all such non-excluded
    information being referred to herein collectively as “Communications”), may be delivered by transmitting the Communications in an electronic/soft medium in a format acceptable to the
    Administrative Agent.  In addition, the Company agrees to continue to provide the Communications to the Administrative Agent in the manner specified in this Agreement, but only to the extent requested by the Administrative Agent.  The Company further
    agrees that the Administrative Agent may make the Communications available to the Lenders by posting the Communications on 

   

  
    
      

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  Intralinks or a substantially similar electronic transmission system, access to which is controlled by the Administrative Agent (the “Platform”).

   

  

  Reports required to be delivered pursuant to clauses (a) and (b) of this Section 5.01 shall be deemed to have been delivered on the date on which the Company posts such
    reports on its website at www.hp.com or when such reports are posted on the SEC’s website at www.sec.gov; provided that the Company shall deliver to the Administrative Agent, not later than
    the date on which financial statements are required to be delivered under clause (b) above, the certification of a Financial Officer, as required by clause (b).

   

  SECTION 5.02.  Notices of Material Events.  Promptly after a Financial Officer or any other executive officer of the
    Company becomes aware of the following, the Company will furnish to the Administrative Agent for delivery to each Lender written notice of the following:

   

  (a) any Event of Default or Default, specifying
      the nature and extent thereof and the corrective action (if any) taken or proposed to be taken with respect thereto;

   

  (b) the filing or commencement of, or any
      written notice of intention of any Person to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any arbitrator or Governmental Authority, against or affecting the Company or any Affiliate thereof that, if
      not cured or if adversely determined, could reasonably be expected to result in a Material Adverse Effect;

   

  (c) the occurrence of any ERISA Event that,
      alone or together with any other ERISA Events that have occurred, if not cured or if adversely determined, could reasonably be expected to result in liability of the Company and the Subsidiaries in an aggregate amount exceeding $200,000,000; and

   

  (d) any other development or event that has
      resulted in, or could reasonably be expected to result in, a Material Adverse Effect.

   

  Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or other executive officer of the Company setting forth the details of
    the event or development requiring such notice and any action taken or proposed to be taken with respect thereto.

   

  SECTION 5.03.  Existence; Conduct of Business.  The Company will, and will cause each of the Significant Subsidiaries to,
    do or cause to be done all things reasonably necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business; provided that the foregoing shall not prohibit any merger, consolidation, liquidation, dissolution or asset disposition permitted under Section 6.04; provided further that neither the Company nor any of the Significant Subsidiaries shall be required to preserve any rights, licenses, permits, privileges or franchises or any Significant Subsidiary’s
    existence if the Company or such Subsidiary determines that the preservation thereof is no longer desirable in the conduct of the business of the Company or such Subsidiary, as the case may be, and that the loss thereof would not materially adversely 

  

   

  
    
      

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   affect the Company, such Subsidiary or the Lenders with respect to any Commitments or Borrowing hereunder.

   

    

  SECTION 5.04.  Payment of Taxes. 
    The Company will, and will cause each of the Subsidiaries to, pay its Tax liabilities, that, if not paid, could result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof
    is being contested in good faith, (b) the Company or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP, and (c) the failure to make payment pending such contest could not reasonably be expected to
    result in a Material Adverse Effect.

   

  SECTION 5.05.  Maintenance of Properties; Insurance.  The Company will, and will cause each of the Subsidiaries to,
    (a) keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to
    result in a Material Adverse Effect, and (b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses
    operating in the same or similar locations; provided, however, that the Company and the Subsidiaries may instead self-insure to
    the same general extent as other companies of similar size, type and financial condition as the Company or such Subsidiary, and to the extent such policies are consistent with prudent business practice.

   

  SECTION 5.06.  Books and Records; Inspection Rights.  The Company will, and will cause each of the Subsidiaries to, keep
    proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities sufficient to permit the preparation of the consolidated financial statements of the Company
    and the Subsidiaries in accordance with GAAP.  The Company will, and will cause each of the Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender (which representatives shall be reasonably acceptable to the
    Company), upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such
    reasonable times and (unless (i) any Loans are outstanding hereunder or (ii) an Event of Default has occurred and is continuing) no more than once per fiscal year of the Company; provided
    that such designated representatives agree to any reasonable confidentiality obligations proposed by the Company, including, but not limited to, confidentiality obligations agreed to by the Lenders under or in connection with this Agreement.

   

  SECTION 5.07.  Compliance with Laws.  (a)  The Company will, and will cause each of the Subsidiaries to, comply with all
    laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, including all Environmental Laws, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a
    Material Adverse Effect.

   

  (b)  The Company will maintain in effect and
      enforce in all material respects policies and procedures designed to promote compliance by the Company, 

    

   

  
    
      

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  its Subsidiaries and their respective directors, officers, employees and Borrower Agents with Anti-Corruption Laws and applicable Sanctions.

  

   

    

  SECTION 5.08.  Use of Proceeds. 
    (a)  The proceeds of the Loans will be used only for general corporate purposes.  No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board,
    including Regulation T, Regulation U and Regulation X.

   

  (b)  The Borrowers will not permit the proceeds
      of any Loans to be used directly, or to the knowledge of any Borrower, indirectly for the purpose of financing the activities of any Sanctioned Person or in any Sanctioned Country (unless, in each case, authorized by Sanctions), or for the purpose of
      engaging in any activity in violation of Sanctions.

   

  ARTICLE VI

    

    Negative Covenants

   

  Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have been paid in full, the Company
    covenants and agrees with the Lenders that:

   

  SECTION 6.01.  Subsidiary

        Indebtedness.  The Company will not permit any Subsidiary to create, incur, assume or permit to exist any Indebtedness except:

   

  (a)  Indebtedness of the Borrowing Subsidiaries
      under this Agreement;

   

  (b)  Indebtedness, including Guarantees and
      obligations in respect of letters of credit and letters of guaranty, existing on the Effective Date and set forth on Schedule 6.01 (i) individually, identifying the relevant Subsidiary and Indebtedness, in the case of any issue or item of
      Indebtedness having an outstanding principal amount in excess of $100,000,000 and (ii) in the aggregate with respect to all other such Indebtedness;

   

  (c)  Guarantees of Indebtedness of any
      Subsidiary to the extent such Indebtedness is otherwise permitted under this Agreement;

   

  (d)  Indebtedness of any Subsidiary to the
      Company or any other Subsidiary;

   

  (e)  Indebtedness of any Person that becomes a
      Subsidiary (or of any Person not previously a Subsidiary that is merged or consolidated with or into a Subsidiary in a transaction permitted hereunder) after the Effective Date; or Indebtedness of any Person that is assumed by any Subsidiary in
      connection with an acquisition of assets by such Subsidiary, provided that (i) such Indebtedness exists at the time such Person becomes a Subsidiary (or is so merged or consolidated) or
      such assets are acquired and is not created in contemplation of or in connection with such 

    

   

  
    
      

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  Person becoming a Subsidiary (or such merger or
        consolidation) or such assets being acquired and (ii) no other Subsidiary (other than a Subsidiary into which the acquired Person is merged or any Subsidiary of the acquired Person) shall Guarantee or otherwise become liable for the payment of such
        Indebtedness, except to the extent that such Guarantee is incurred pursuant to Section 6.01(i);

  

   

    

  (f)  Indebtedness incurred to finance the
      purchase price, construction cost or improvement cost incurred in connection with the acquisition, construction or improvement of assets, including Capitalized Lease Obligations; provided
      that (i) such Indebtedness is incurred prior to or within one year after, the date of acquisition, construction or improvement of such assets, (ii) such Indebtedness does not exceed the amount of such purchase price or cost of the asset and (iii) any
      Lien securing such Indebtedness is permitted under Section 6.02(f);

   

  (g)  Indebtedness of Subsidiaries in connection
      with Qualified Receivables Transactions and Supply Chain Programs;

   

  (h)  Indebtedness of any Subsidiary that
      Guarantees the Indebtedness of the Company under this Agreement;

   

  (i)  other Indebtedness of Subsidiaries; provided that the sum, without duplication, of (i) the aggregate outstanding principal amount of Indebtedness permitted by this clause (g) plus (ii) the aggregate outstanding principal amount of
      Indebtedness and other obligations secured by Liens permitted by Section 6.02(g) shall not exceed at any time the greater of $1,000,000,000 and 15.0% of Consolidated Net Tangible Assets as of the most recent fiscal quarter end for which financial
      statements of the Company have been delivered pursuant to Section 5.01(a) or (b);

   

  (j)  Indebtedness incurred in connection with
      the extension of maturity of, or refunding or refinancing of, in whole or in part, any Indebtedness outstanding pursuant to Section 6.01(b),(e), (f) or (i), provided that (i) such extension
      of, or refunding refinancing shall not increase the principal amount of the Indebtedness being extended, or refunded or refinanced by more than the amount of accrued interest thereon and fees, expenses and premiums paid in connection with such
      extension, refunding or refinancing and (ii) any such refinancing Indebtedness in respect of Indebtedness incurred under Section 6.01(i) will be deemed to utilize the basket referred to in Section 6.01(i), but such Indebtedness shall be permitted
      even if such Indebtedness is incurred at a time when such Indebtedness would not otherwise be permitted to be incurred under such clause;

   

  (k)  Indebtedness arising in connection with
      customary cash management services, including treasury, depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements, and cash pooling arrangements among the Company or one or more Subsidiaries of the
      Company and a financial institution (or an in-house bank) and Indebtedness arising from the honoring by a bank or financial institution of a check, draft or similar instrument 

    

   

  
    
      

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  drawn against insufficient funds, in each case in the
        ordinary course of business; and

  

   

    

  (l)  Indebtedness as an account party in respect
      of trade letters of credit.

   

  SECTION 6.02.  Liens.  The Company will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, except:

   

  (a) Permitted Encumbrances;

   

  (b) Liens on any property or asset of a
      Subsidiary securing Indebtedness of such Subsidiary to the Company or to another Subsidiary;

   

  (c) any Lien on any property or asset of the
      Company or any Subsidiary existing on the Effective Date; provided that (i) such Lien shall not apply to any other property or asset of the Company or any Subsidiary other than extensions
      and accessions thereto and (ii) such Lien shall secure only those obligations which it secures on the Effective Date and extensions, renewals and replacements thereof permitted by Section 6.01(i);

   

  (d) any Lien existing on any property or asset
      prior to the acquisition thereof by the Company or any Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary after the Effective Date prior to the time such Person becomes a Subsidiary; provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property
      or assets of the Company or any Subsidiary other than extensions and accessions thereto and (iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case
      may be, and extensions, renewals, refinancings and replacements thereof that do not increase the outstanding principal amount thereof by more than the amount of accrued interest thereon and fees, expenses and premiums paid in connection with such
      refinancing;

   

  (e) Liens arising under any Qualified
      Receivables Transaction or Supply Chain Transaction;

   

  (f) any Lien given to secure Indebtedness or
      other obligations (including, in the case of Subsidiaries, Indebtedness incurred pursuant to Section 6.01(f)) incurred to finance the payment of the purchase price, construction cost or improvement cost of the acquisition, construction or improvement
      of assets; provided that (i) such Lien shall attach solely to the assets acquired, constructed or improved (including any assets which are attached or otherwise adjoining such assets),
      (ii) such Lien has been created or incurred by the Company or a Subsidiary simultaneously with, or within one year after, the date of acquisition, construction or improvement of such assets, (iii) the Indebtedness or other obligations secured thereby
      shall not exceed the amount of such purchase price or cost of the asset and (iv) such Lien shall secure 

    

   

  
    
      

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  only those obligations which it secures on the date of
        such acquisition, construction or improvement of assets, as the case may be, and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof by more than the amount of accrued interest thereon and
        fees, expenses and premiums paid in connection with such refinancing;

  

   

    

  (g) other Liens securing Indebtedness or other
      obligations of the Company or any Subsidiary; provided that the sum, without duplication, at any time of (i) the aggregate outstanding principal amount of Indebtedness and other obligations
      secured by Liens permitted by this clause (g) plus (ii) the aggregate outstanding principal amount of Indebtedness of Subsidiaries permitted by Section 6.01(i) shall not exceed at any one time the greater of $1,000,000,000 and 15.0% of Consolidated
      Net Tangible Assets as of the most recent fiscal quarter end for which financial statements of the Company have been delivered pursuant to Section 5.01(a) or (b);

   

  (h) Liens in respect of Indebtedness incurred in
      connection with the extension of maturity of, or refunding or refinancing of, in whole or in part, any secured Indebtedness incurred under Section 6.02(g), provided that (i) such extension
      of, or refunding or refinancing shall not increase the principal amount of the secured Indebtedness being extended, or refunded or refinanced by more than the amount of accrued interest thereon and fees, expenses and premiums paid in connection with
      such extension, refunding or refinancing and (ii) any such secured Indebtedness will be deemed to utilize the basket referred to in Section 6.02(g), but such secured Indebtedness (and the Liens in respect thereof) shall be permitted even if the such
      secured Indebtedness is incurred at a time when such secured Indebtedness would not otherwise be permitted to be incurred under such clause.

   

  SECTION 6.03.  [Reserved.]

   

  SECTION 6.04.  Fundamental Changes.  The Company will not, and will not permit any Significant Subsidiary to, merge into
    or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or substantially all of the assets of the
    Company and its Subsidiaries taken as a whole (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be
    continuing, (i) any Subsidiary or other Person may merge into or consolidate with the Company in a transaction in which the Company is the surviving corporation, (ii) any Borrowing Subsidiary may merge into or consolidate with any other Borrowing
    Subsidiary, (iii) any Subsidiary (other than a Borrowing Subsidiary) may merge into or consolidate with any Subsidiary in a transaction in which the surviving entity is a Wholly Owned Subsidiary, (iv) any Subsidiary (other than a Borrowing Subsidiary)
    may sell, transfer, lease or otherwise dispose of its assets to the Company or to a Wholly Owned Subsidiary, (v) any Subsidiary (other than a Borrowing Subsidiary) may liquidate or dissolve if the Company determines in good faith that such liquidation
    or dissolution is in the best interests of the Company and is not materially disadvantageous to the Lenders, (vi) any 

   

  
    
      

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  Subsidiary (other than a Borrowing Subsidiary) may merge into or consolidate with any other Person if the surviving Person is or becomes by virtue of such transaction a Wholly Owned
      Subsidiary, and the Company determines in good faith that such merger or consolidation is in the best interests of the Company and would not materially adversely affect the Lenders, (vii)  the Company or any Subsidiary may merge into or consolidate
      with any other Person; provided that the Company or such Subsidiary is the surviving corporation, (viii) any Subsidiary (other than a Borrowing Subsidiary) may merge with any other Person
      in a transaction in which the surviving entity is not a Subsidiary; provided that such transaction does not constitute the disposition of all or substantially all assets of the Company and
      its subsidiaries taken as a whole and (ix) any Borrowing Subsidiary may merge into or consolidate with or liquidate or dissolve into any other Borrowing Subsidiary.

   

    

  SECTION 6.05.  Financial Covenants. 
    (a) The Company will not permit the Total Leverage Ratio on the last day of any fiscal quarter ending after the Effective Date to exceed 4.0 to 1.0.

   

  (b)  The Company will not permit the ratio of
      Consolidated EBITDA to Consolidated Net Interest Expense for any period of four consecutive fiscal quarters ending prior to the Maturity Date to be less than 3.0 to 1.0.

   

  ARTICLE VII

    

    Events of Default

   

  If any of the following events (“Events of Default”) shall occur:

   

  (a) any Borrower shall fail to pay any principal
      of any Loan when and as the same shall become due and payable;

   

  (b) any Borrower shall fail to pay any interest
      on any Loan or any fee or any other amount (other than an amount referred to in clause (a) of this Article) payable under this Agreement, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of
      five Business Days;

   

  (c) any representation or warranty made or,
      pursuant to Section 4.02, deemed made by or on behalf of the Company or any Subsidiary in or in connection with this Agreement or any amendment or modification hereof or waiver hereunder, or in any report, certificate, financial statement or other
      document furnished pursuant to or in connection with this Agreement or any amendment or modification hereof or waiver hereunder, shall prove to have been false or misleading in any material respect when made or deemed made (other than, for the
      avoidance of doubt, any Pricing Certificate Inaccuracy; provided that the Company complies with the terms of Section 2.24 with respect to such Pricing Certificate Inaccuracy);

   

  
    
      

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  (d) any Borrower shall fail to observe or
      perform any covenant, condition or agreement contained in Section 5.02(a), 5.03 (with respect to any Borrower’s existence), 5.08(b) or Article VI;

   

  (e) any Borrower shall fail to observe or
      perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of 30 days after notice thereof from the
      Administrative Agent or any Lender to the Company (which notice will be given at the request of any Lender);

   

  (f) the Company or any Subsidiary shall fail to
      make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness when and as the same shall become due and payable and such failure shall continue after the applicable grace period, if any,
      specified in the agreement or instrument relating to such Material Indebtedness;

   

  (g) any event or condition occurs that results
      in any Material Indebtedness becoming due prior to its scheduled maturity or that requires the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided
      that this clause (g) shall not apply to (i) secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, (ii) any conversion, repurchase or redemption of any Material
      Indebtedness scheduled by the terms thereof to occur on a particular date and not subject to any contingent event or condition related to the creditworthiness, financial performance or financial condition of the Company or the applicable
      Subsidiaries, (iii) any repurchase or redemption of any Material Indebtedness pursuant to any put option exercised by the holder of such Material Indebtedness; provided that such put option
      is exercisable at times specified in the terms of the Material Indebtedness and is not subject to any contingent event or condition related to the creditworthiness, financial performance or financial condition of the Company or the applicable
      Subsidiaries, (iv) any termination event or similar event occurring under any Hedge Agreement that constitutes Material Indebtedness (it being understood that this paragraph (g) of this Section will apply to any failure
      to make any payment required as a result of such termination or similar event), (v) any mandatory redemption, repayment or repurchase event not in the nature of a default (x) that is triggered by receipt of proceeds of a debt incurrence, equity
      issuance, asset sale, casualty or other proceeds-generating event and is only to the extent of proceeds received or (y) with respect to debt securities the net proceeds of which are escrowed or otherwise expressly set aside in an amount at least
      equal to the principal amount of Indebtedness required to be redeemed, repaid or repurchased and which escrowed or set aside funds are to be applied to such redemption, repayment or repurchase, or (vi) any breach or default that is (I) remedied by
      the Company or the applicable Subsidiary or (II) waived (including in the form of amendment) by the required holders of the applicable item of Indebtedness, in either case, prior to the acceleration of Loans and Commitments pursuant to this Article
      VII;

   

  
    
      

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  (h) an involuntary proceeding shall be commenced
      or an involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in respect of the Company, any Borrowing Subsidiary or any Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal,
      state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Company, any Borrowing Subsidiary or any
      Material Subsidiary or for a substantial part of its assets, and, in any such case referred to in (i) or (ii) above, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing
      shall be entered;

   

  (i) the Company, any Borrowing Subsidiary or any
      Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
      effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian,
      sequestrator, conservator or similar official for the Company, any Borrowing Subsidiary or any Material Subsidiary or for a substantial part of its assets (other than in connection with a solvent liquidation of any foreign Subsidiary), (iv) file an
      answer admitting the material allegations of a petition filed against it in any such proceeding, or (v) make a general assignment for the benefit of creditors;

   

  (j) the Company or any Material Subsidiary shall
      admit in writing its inability, or fail generally, to pay its debts as they become due;

   

  (k) one or more judgments for the payment of
      money in an aggregate amount in excess of $350,000,000 shall be rendered by a court of competent jurisdiction against the Company, any Subsidiary or any combination thereof, and the same shall remain undischarged for a period of 60 consecutive days
      during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Company or any Subsidiary to enforce any such judgment;

   

  (l) an ERISA Event shall have occurred that,
      when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect;

   

  (m) the Guarantee under this Agreement shall
      cease to be, or shall be asserted by the Company or any Borrowing Subsidiary not to be, a valid, binding and enforceable obligation of the Company; or

   

  (n) a Change in Control shall occur;

   

    

  then, and in every such event (other than an event with respect to the Company described in clause (h) or (i) of this Article), and at any time thereafter during the
    continuance of such  

   

  
    
      

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  event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Company, take either or both of the following actions, at the same
    or different times:  (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due
    and payable may thereafter be declared to be due and payable so long as, at the time of such later declaration, an Event of Default is continuing), and thereupon the principal of the Loans so declared to be due and payable, together with accrued
    interest thereon and all fees and other obligations of the Borrowers accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers; and in
    case of any event with respect to the Company described in clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other
    obligations of the Borrowers accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers.

   

  ARTICLE VIII

    

    The Administrative Agent

   

  Each of the Lenders hereby irrevocably appoints the Administrative Agent as its agent, and authorizes the Administrative Agent to take such actions on its behalf and to
    exercise such powers as are delegated to the Administrative Agent by the terms hereof, together with such actions and powers as are reasonably incidental thereto.

   

  The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as
    though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to, and generally engage in any kind of business with the Company or any Subsidiary or other Affiliate thereof as if it were not the
    Administrative Agent hereunder.

   

  The Administrative Agent shall not have any duties or obligations except those expressly set forth herein.  Without limiting the generality of the foregoing, (a) the
    Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any
    discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary
    under the circumstances as provided in Section 10.02); provided that the Administrative Agent shall not be required to take any action that, in its opinion, could expose the Administrative
    Agent to liability or be contrary to applicable law, and (c) except as expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the
    Company or any of the Subsidiaries that 

  

   

  
    
      

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  is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity.  The Administrative Agent shall not be liable for any
    action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02) or in the absence of its own gross
    negligence or willful misconduct.  The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Company or a Lender, and the Administrative Agent shall
    not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement, (ii) the contents of any certificate, report or other document delivered hereunder or in
    connection herewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement or any other agreement,
    instrument or document (including, for the avoidance of doubt, in connection with the Administrative Agent’s reliance on any Electronic Signature transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual
    executed signature page), or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items (which on their face purport to be such items) expressly required to be delivered to the
    Administrative Agent.   In addition, for the avoidance of doubt, the Lenders hereby acknowledge that none of the Joint Lead Arrangers, Joint Bookrunners, Syndication Agent or Sustainability Structuring Agent, set forth on the cover page of this
    Agreement shall have any powers, duties or responsibilities under this Agreement, except in its capacity, as applicable, as the Administrative Agent, Swingline Lender or a Lender hereunder.

   

  

  The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement,
    instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed or sent by the proper Person (whether or not such Person in fact
    meets the requirements set forth herein for being the signatory, sender or authenticator thereof).  The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person (whether
    or not such Person in fact meets the requirements set forth herein for being the signatory, sender or authenticator thereof), and shall not incur any liability for relying thereon.  The Administrative Agent may consult with legal counsel (who may be
    counsel for the Company), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

   

  The Administrative Agent may perform any of and all its duties and exercise its rights and powers hereunder or under any related agreement or instrument by or through any
    one or more sub-agents appointed by the Administrative Agent, and the Administrative Agent and any such sub-agent may perform any of and all their duties and exercise their rights and powers through their respective affiliates or branches.  The
    exculpatory, indemnity and reimbursement provisions of this Article VII and Section 10.03 shall apply to any such sub-agent and affiliate, and their respective directors, officers, employees and agents and shall apply to their respective activities in
    connection with the syndication of

  

   

  
    
      

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  the credit facility provided for herein as well as activities as Administrative Agent.  The Administrative Agent shall not be responsible to the Lenders for the negligence
    or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent acted with gross negligence or wilful misconduct in the selection of such
    sub-agents.

   

  

  Subject to the appointment and acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time by notifying
    the Lenders and the Company.  Upon any such resignation, the Required Lenders shall have the right, in consultation with the Company, to appoint a successor.  If no successor shall have been so appointed by the Required Lenders and shall have accepted
    such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which shall be a bank with an office
    in New York, New York, or an Affiliate of any such bank.  If the Person serving as the Administrative Agent becomes a Defaulting Lender under clause (d) of the definition of such term, the Required Lenders may, to the extent permitted by applicable
    law, by notice in writing to the Company and such Person, remove such Person as Administrative Agent and, in consultation with the Company, appoint a successor.  If no such successor shall have been so appointed by the Required Lenders and shall have
    accepted such appointment by the 30th day following the date of such notice (or such earlier day as shall be agreed by the Required Lenders), then such removal shall nonetheless become effective in accordance with such notice on such 30th day (or
    agreed earlier date).  Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent,
    and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder.  The fees payable by the Company to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed
    between the Company and such successor.  After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 10.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their
    respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent.

   

  Each Lender represents and warrants, as of the date hereof, that (i) the Loan Documents set forth the terms of a commercial lending facility, (ii) it is engaged in making,
    acquiring and holding commercial loans in the ordinary course of its business, and not for the purpose of purchasing, acquiring or holding any other type of financial instrument (and each Lender agrees not to assert a claim in contravention of the
    foregoing), (iii) it has, independently and without reliance upon the Administrative Agent, any Arranger or any other Lender, or any of the Related Parties of any of the foregoing, and based on such documents and information as it has deemed
    appropriate, made its own credit analysis and decision to enter into this Agreement as a Lender, and to make, acquire and hold Loans hereunder and (iv) it is sophisticated with respect to decisions to make, acquire and hold commercial loans and either
    it, or the Person exercising discretion in making its decision to make, acquire and hold such commercial loans, is experienced in making, acquiring and holding such commercial loans.  Each Lender also acknowledges that it will, independently 

  

   

  
    
      

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  and without reliance upon the Administrative Agent, any Arranger or any other Lender, or any of the Related Parties of any of the foregoing, and based on such documents
    and information (which may contain material, non-public information within the meaning of the United States securities laws concerning the Company and its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in
    taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

   

  

  In case of the pendency of any proceeding with respect to any Borrower under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
    hereafter in effect, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any
    demand on the applicable Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:

   

  to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other obligations of the applicable Borrower
    hereunder that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements
    and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Sections 2.10, 2.11, 2.13, 2.14, 2.15 and 10.03) allowed in such judicial
    proceeding; and

   

  to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

   

  and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to
    make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation,
    expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent (including under Section 10.03).

   

  Each Lender, by delivering its signature page to this Agreement, or delivering its signature page to an Assignment and Assumption pursuant to which it shall become a
    Lender hereunder, shall be deemed to have acknowledged receipt of, and consented to and approved, each document required to be delivered to, or be approved by or satisfactory to, the Administrative Agent or the Lenders on the Effective Date.

   

  

  Each Lender hereby agrees that (x) if the Administrative Agent notifies such Lender that the Administrative Agent has determined in its sole
    discretion that any funds received by such Lender from the Administrative Agent or any of its Affiliates (whether as a payment, prepayment or repayment of principal, interest, fees or 

   

  
    
      

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  otherwise; individually and collectively, a “Payment”) were erroneously transmitted to such Lender (whether or
    not known to such Lender), and demands the return of such Payment (or a portion thereof), such Lender shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion
    thereof) as to which such a demand was made in same day funds, together with interest thereon in respect of each day from and including the date such Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the
    Administrative Agent at the greater of the applicable Overnight Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect, and (y)

    to the extent permitted by applicable law, such Lender shall not assert, and hereby waives, as to the Administrative Agent, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the
    Administrative Agent for the return of any Payments received, including without limitation any defense based on “discharge for value” or any similar doctrine.  A notice of the Administrative Agent to any Lender under this Article shall be conclusive,
    absent manifest error.

   

  Each Lender hereby further agrees that if it receives a Payment from the Administrative Agent or any of its Affiliates (x) that is in a different amount than, or on a different date from, that specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates) with respect to such Payment (a “Payment Notice”) or (y) that was not preceded or accompanied by a Payment Notice, it shall be on notice, in each such case, that an error has been made with respect
    to such Payment.  Each Lender agrees that, in each such case, or if it otherwise becomes aware a Payment (or portion thereof) may have been sent in error, such Lender shall promptly notify the Administrative Agent of such occurrence and, upon demand
    from the Administrative Agent, it shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion thereof) as to which such a demand was made in same day funds,
    together with interest thereon in respect of each day from and including the date such Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Administrative Agent at the greater of the applicable Overnight
    Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect.

   

  Each Borrower hereby agrees that (x) in the event an erroneous Payment (or portion thereof) are not recovered
    from any Lender that has received such Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights of such Lender with respect to such amount and (y) an erroneous Payment
    shall not pay, prepay, repay, discharge or otherwise satisfy any obligations owed by the Borrowers.

   

  Each party’s obligations under this Article VIII with respect to Payments shall survive the resignation or replacement of the Administrative
    Agent or any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction or discharge of all obligations under any Loan Document.

   

   

  
    
      

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  ARTICLE IX

    

    Guarantee

   

  In order to induce the Lenders to extend credit hereunder, the Company hereby irrevocably and unconditionally guarantees, as a primary obligor and not merely as a surety,
    the payment when and as due of the Obligations of each Borrowing Subsidiary now or hereafter existing (the “Guaranteed Obligations”).  The Company further agrees that the due and punctual
    payment of such Guaranteed Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such extension or renewal of any such
    Guaranteed Obligation.

   

  The Company waives presentment to, demand of payment from and protest to any Borrower or other obligor of any of the Guaranteed Obligations, and also waives notice of
    acceptance of its obligations and notice of protest for nonpayment.  The obligations of the Company hereunder shall not be affected by (a) the failure of the Administrative Agent or any Lender to assert any claim or demand or to enforce any right or
    remedy against any Loan Party under the provisions of this Agreement, any other Loan Document or otherwise, (b) any extension or renewal of any of the Guaranteed Obligations, (c) any rescission, waiver, amendment or modification of, or release from,
    any of the terms or provisions of this Agreement, or any other Loan Document or agreement, (d) any default, failure or delay, wilful or otherwise, in the performance of any of the Guaranteed Obligations, (e) any decree or order, or any law or
    regulation of any jurisdiction or event affecting any term of a Guaranteed Obligation or (f) any other act, omission or delay to do any other act which may or might in any manner or to any extent vary the risk of the Company or otherwise operate as a
    discharge of a guarantor as a matter of law or equity or which would impair or eliminate any right of the Company to subrogation or any other circumstance that might constitute a defense of the Company or any other Borrower or obligor, and any defense
    arising from the foregoing is hereby waived.

   

  The Company further agrees that its agreement hereunder constitutes a guarantee of payment when due (whether or not any bankruptcy or similar proceeding shall have stayed
    the accrual or collection of any of the Guaranteed Obligations or operated as a discharge thereof) and not merely of collection, and waives any right to require that any resort be had by the Administrative Agent or any Lender to any balance of any
    deposit account or credit on the books of the Administrative Agent or any Lender in favor of any Borrower or any other Person.

   

  The obligations of the Company hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason (other than the payment in full of all
    of the Guaranteed Obligations), and any defense or set-off, counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or unenforceability of any of the Guaranteed Obligations, any impossibility in the performance of
    any of the Guaranteed Obligations or otherwise (other than for the payment in full of all of the Guaranteed Obligations) is hereby waived.

   

  
    
      

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  The Company further agrees that its obligations hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof,
    of any Guaranteed Obligation is rescinded or must otherwise be restored by the Administrative Agent or any Lender upon the bankruptcy or reorganization of any Borrower or other obligor or otherwise.

   

  Upon payment by the Company of any sums as provided above, all rights of the Company against any Borrower or other obligor arising as a result thereof by way of right of
    subrogation or otherwise shall in all respects be subordinated and junior in right of payment to the prior payment in full of all of the Guaranteed Obligations owed by such Borrower or other obligor to the Administrative Agent and the Lenders.

   

  Notwithstanding the provisions of this Article IX, the Company shall be permitted to charge, and any Borrowing Subsidiary shall be permitted to pay, a guaranty fee in
    connection with the entry by the Company in guaranty under this Article IX, as may be agreed by the Company and such Borrowing Subsidiary.

   

  ARTICLE X

    

    Miscellaneous

   

  SECTION 10.01.  Notices.  (a)    Except in the case of notices and other communications expressly permitted to be given
    by telephone and as otherwise set forth in subsection (b), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed, e-mail, by certified or registered mail or sent
    by telecopy, as follows:

   

  (i) if to the Company, to it at HP Inc., 1501
      Page Mill Road, Palo Alto, CA 94304-1112, Attention of Assistant Treasurer (Zac Nesper (email zac.j.nesper@hp.com)), with a copy to corpfin@hp.com and to Rick Hansen (email rick.hansen@hp.com) at the same address;

   

  (ii) if to the Administrative Agent, JPMorgan
      Chase Bank, N.A., 500 Stanton Christiana Road, NCC5 / 1st Floor, Newark, Delaware 19713, Attention: Loan & Agency Services Group, Telecopy Number: (302) 455-3768, Email:  bryan.a.cook@jpmchase.com; and

   

  (iii) if to any other Lender, to it at its
      address (or e-mail or fax number) set forth on Schedule 2.01 or in its Administrative Questionnaire.

   

  (b)  Communications to the Lenders may be
      delivered or furnished by electronic communication (including e-mail and Internet or intranet websites, including the Platform) pursuant to procedures approved by the Administrative Agent; provided
      that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.  The Administrative
      Agent, the Company or any other Borrower may, in its discretion, agree to accept notices and other 

   

  
    
      

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  Communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or Communications.

  

   

    

  (c)  The Administrative Agent agrees that the
      receipt of the Communications by the Administrative Agent at its e-mail address set forth above shall constitute effective delivery of the Communications to the Administrative Agent for purposes of this Agreement.  Each Lender agrees that notice to
      it (as provided in the next sentence) specifying that the Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of this Agreement.  Each Lender agrees (A) to notify the
      Administrative Agent in writing (including by electronic communication) from time to time of such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission and (B) that the foregoing notice may be sent to such
      e-mail address.

   

  (d)  The Platform is provided “as is” and “as
      available”.  None of the Administrative Agent or any of its Related Parties warrant the accuracy or completeness of the Communications or the adequacy of the Platform and each of the Administrative Agent and its Related Parties expressly disclaim
      liability for errors or omissions in the Communications.  No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from
      viruses or other code defects, is made by the Administrative Agent or any of its Related Parties in connection with the Communications or the Platform.

   

  Any party hereto may change its address, telecopy number or e-mail address for notices and other communications hereunder by notice to the other parties hereto.  All
    notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt.

   

  SECTION 10.02.  Waivers; Amendments.  (a)    No failure or delay by any Borrower, the Administrative Agent or any Lender
    in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
    further exercise thereof or the exercise of any other right or power.  The rights and remedies of the Borrowers, the Administrative Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise
    have.  No waiver of any provision of this Agreement or consent to any departure by any Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be
    effective only in the specific instance and for the purpose for which given.  Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent or
    any Lender may have had notice or knowledge of such Default at the time.

   

  

  (b)  Except as otherwise expressly provided
      herein, neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Company, each  

   

  
    
      

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  other Borrower and the Required Lenders or by the Company, each other Borrower and the Administrative Agent with the consent of the Required
      Lenders; provided that no such agreement shall (i) increase or extend the Commitment of any Lender without the written consent of such Lender, (ii) decrease the principal amount of any Loan
      or decrease the rate of interest thereon, or decrease any fees payable hereunder, without the written consent of each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest thereon,
      or any fees payable hereunder, or decrease the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.16(b) or
      (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof
      specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender, (vi) release the Company from its Guarantee
      under Article IX without the written consent of each Lender or (vii) change any provisions of this Agreement in a manner that by its terms adversely affects the rights in respect of payments due to Lenders holding Loans of any Class differently than
      those holding Loans of any other Class, without the written consent of Lenders holding a majority in interest of the outstanding Loans and unused Commitments of each affected Class; provided,
      further that notwithstanding any other provision contained herein, if the Company consummates a GHG Impacting Transaction, the Company and the Sustainability Structuring Agent shall be
      permitted to amend, modify or supplement the Sustainability Table in Schedule 1.01 (other than with respect to the amounts of the Sustainability Fee Adjustment or Sustainability Rate Adjustment); provided
      that such amendment, modification or supplement to the Sustainability Table shall become effective 15 Business Days after such amendment, modification or supplement is posted to the Lenders, unless the Required Lenders object to such amendment,
      modification or supplement within 10 Business Days after such posting; and provided further that (A) no such agreement shall
      amend, modify or otherwise affect the rights or duties of the Administrative Agent or the Swingline Lenders hereunder without the prior written consent of the Administrative Agent or the Swingline Lenders, as the case may be and (B) any waiver,
      amendment or modification of this Agreement that by its terms affects the rights or duties under this Agreement of the Revolving Lenders (but not the Swingline Lender) or the Swingline Lender (but not the Revolving Lenders) may be effected by an
      agreement or agreements in writing entered into by the Company, each other Borrower and the requisite percentage in interest of the affected Class of Lenders that would be required to consent thereto under this Section if such Class of Lenders were
      the only Class of Lenders hereunder at the time.  Notwithstanding the foregoing, any provision of this Agreement may be amended by an agreement in writing entered into by the Company, each other Borrower, the Required Lenders and the Administrative
      Agent (and, if their rights or obligations are affected thereby, the Swingline Lenders) if (i) by the terms of such agreement the Commitment of each Lender not consenting to the amendment provided for therein shall terminate upon the effectiveness of
      such amendment and (ii) at the time such amendment becomes effective, each Lender not consenting thereto receives payment in full of the principal of and interest accrued on 

   

  
    
      

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  each Loan made by it and all other amounts owing to it or accrued for its account under this Agreement.  Notwithstanding the foregoing, (1) any provision of
        this Agreement may be amended by an agreement in writing entered into by the Company, each other Borrower and the Administrative Agent to cure any ambiguity, omission, mistake, defect or inconsistency so long as, in each case, the Lenders shall
        have received at least five Business Days prior written notice thereof and the Administrative Agent shall not have received, within five Business Days of the date of such notice to the Lenders, a written notice from (x) the Required Lenders stating
        that the Required Lenders object to such amendment or (y) if affected by such amendment, any Swingline Lender stating that it objects to such amendment, and (2) the Commitments and Revolving Exposure of any Lender that is at the time a Defaulting
        Lender shall not be included in determining whether all Lenders or the Required Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to this Section 10.02); provided that any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender which affects such Defaulting Lender differently than other affected Lenders shall require the consent of
        such Defaulting Lender.  Notwithstanding anything in this Agreement to the contrary, each Lender hereby irrevocably authorizes the Administrative Agent on its behalf, and without further consent of any Lender (but with
        the consent of the Company and the Administrative Agent), to (x) amend and restate this Agreement and the other Loan Documents if, upon giving effect to such amendment and restatement, such Lender shall no longer be a party to this Agreement (as so
        amended and restated), the Commitments of such Lender shall have terminated, such Lender shall have no other commitment or other obligation hereunder and shall have been paid in full all principal, interest and other amounts owing to it or accrued
        for its account under this Agreement and the other Loan Documents.

  

   

    

  SECTION 10.03.  Expenses; Indemnity; Damage
        Waiver.  (a)    The Company shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent, in
    connection with the due diligence investigation of the Company, the syndication of the credit facilities provided for herein, the preparation and administration of this Agreement or any amendments, modifications or waivers of the provisions hereof
    (whether or not the transactions contemplated hereby or thereby shall be consummated); provided, however, that only one outside
    counsel may act on behalf of the Administrative Agent and the Lenders in connection with the preparation and negotiation of this Agreement, and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent or any
    Lender, including the reasonable and documented fees, charges and disbursements of any counsel for the Administrative Agent or any Lender (such fees, charges and disbursements not to include allocated costs of internal counsel), in connection with the
    enforcement or protection of its rights in connection with this Agreement, including its rights under this Section, or in connection with the Loans made hereunder, including all such reasonable and documented out-of-pocket expenses incurred during any
    workout, restructuring or negotiations in respect of such Loans.

   

  

   (b)  To the extent permitted by applicable law
      (i) each Borrower shall not assert, and each Borrower hereby waives any claim against the Administrative Agent, 

   

  
    
      

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  any Arranger and any Lender, and any Related Party of any of the foregoing Persons (each such Person being called a “Lender-Related Person”) for any Liabilities arising from the use by others of information or other materials (including, without limitation, any personal data) obtained through
      telecommunications, electronic or other information transmission systems (including the Internet), except to the extent the liability of any Lender-Related Person is found in a final, nonappealable judgment by a court of competent jurisdiction to
      have resulted primarily from the gross negligence or wilful misconduct of, or breach of this Agreement by, such Lender-Related Person, and (ii) no party hereto shall assert, and each such party hereby waives, any Liabilities against any other party
      hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, or any agreement or
      instrument contemplated hereby or thereby, the Transactions, any Loan or the use of the proceeds thereof; provided that, nothing in this Section 10.03(b) shall relieve any Borrower of any obligation it may have to indemnify an Indemnitee, as provided
      in Section 10.03(c), against any special, indirect, consequential or punitive damages asserted against such Indemnitee by a third party.

   

  (c)  The Company shall indemnify the
      Administrative Agent and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from,
      any and all Liabilities and related expenses, including the reasonable and documented fees, charges and disbursements of any counsel for any Indemnitee (not to include allocated costs of internal counsel), incurred by or asserted against any
      Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement or any agreement or instrument contemplated hereby, the performance by the parties hereto of their respective obligations hereunder or
      the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or the use of the proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated
      by the Company or any of the Subsidiaries, or any Environmental Liability related in any way to the Company or any of the Subsidiaries; provided that any such losses, claims, damages, liabilities and expenses arise out of or in connection with such
      Indemnitee’s acting as Administrative Agent or a Lender under this Agreement, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory,
      whether brought by a third party or by the Company or any Subsidiary and regardless of whether any Indemnitee is a party thereto; provided that such indemnity set forth in the foregoing clauses (i), (ii), (iii) and (iv) shall not, as to any
      Indemnitee, be available to the extent that such Liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (A) the gross negligence or wilful misconduct of, or
      violation of law by, such Indemnitee (B) a claim brought by the Company against such Indemnitee for material breach of such Indemnitee’s obligations under this Agreement or any other Loan Document or (C) a proceeding that does not involve an act or
      omission by the Company or any of its Affiliates and that is brought by an Indemnitee against any other Indemnitee (other than a proceeding that is brought against the Administrative Agent or any other agent or any Arranger in its capacity or in
      fulfilling its roles as an agent or arranger hereunder or any 

    

   

  
    
      

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  similar role with respect to the Indebtedness incurred
        or to be incurred hereunder).  The Company will not be liable under this Agreement for any amount paid by an Indemnitee to settle any claims or actions if the settlement is entered into without the Company’s consent, which consent may not be
        withheld unless such settlement is unreasonable in light of such claims or actions against, and defenses available to, such Indemnitee.  Anything in this Section 10.03(c) to the contrary notwithstanding, the Company shall not be liable for the fees
        and expenses of more than one primary outside counsel and one local outside counsel per jurisdiction retained by each Indemnitee in connection with the defense of any action for which indemnification is sought hereunder.  The Company shall have no
        obligation to any Indemnitee under this Section 10.03(c) for matters for which such Indemnitee has been fully compensated pursuant to any other provision of this Agreement.  This Section 10.03(c) shall not apply with respect to Taxes other than any
        Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

        

      (d)  Each Lender severally agrees to pay any amount required to be paid by the Company under paragraphs (a), (b) or (c) of this Section 10.03 to the Administrative Agent and each of its Related Parties
      (to the extent not reimbursed by the Company and without limiting the obligation of the Company to do so), ratably according to their respective Applicable Percentage in effect on the date on which such payment is sought under this Section (or, if
      such payment is sought after the date upon which the Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such Applicable Percentage immediately prior to such date), from and against any and all
      Liabilities and related expenses, including the fees, charges and disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted against the Administrative Agent or
      such Related Party in any way relating to or arising out of the Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any
      action taken or omitted by the Administrative Agent or such Related Party under or in connection with any of the foregoing; provided that the unreimbursed expense or Liability or related expense, as the case may be, was incurred by or asserted
      against the Administrative Agent or such Related Party in its capacity as such; provided further that no Lender shall be liable for the payment of any portion of such Liabilities, costs, expenses or disbursements that are found by a final and
      nonappealable decision of a court of competent jurisdiction to have resulted primarily from the Administrative Agent’s or such Related Party’s gross negligence or willful misconduct.

   

  (e)  All amounts due under this Section shall be
      payable promptly after written demand therefor.

   

  (f)  The provisions of this Section 10.03 shall
      remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the invalidity
      or unenforceability of any term or provision of this Agreement or any investigation made by or on behalf of the Administrative Agent or any Lender.

   

  
    
      

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  SECTION 10.04.  Successors and Assigns.  (a)    The provisions of this Agreement shall be binding upon and inure to the
    benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any
    attempted assignment or transfer by any Borrower without such consent shall be null and void).  Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors
    and assigns permitted hereby and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

   

  (b)  Any Lender may assign to one or more
      assignees (other than the Company or its Subsidiaries, any Defaulting Lender, natural person or investment vehicle or trust for the primary benefit of a natural person or relatives of a natural person), all or a portion of its rights and obligations
      under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that (i) except in the case of an assignment to a Lender or an Affiliate
      of a Lender, each of the Company and the Administrative Agent (and, in the case of an assignment, other than to an existing Lender or an Affiliate of a Lender, of all or a portion of a Commitment or any Lender’s obligations in respect of its
      Swingline Exposure, each of the Swingline Lenders) must give their prior written consent to such assignment (each such consent not to be unreasonably withheld or delayed), (ii) except in the case of an assignment to a Lender or an Affiliate of a
      Lender or an assignment of the entire remaining amount of the assigning Lender’s Commitment, the amount of the Commitment of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to
      such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 and shall be an integral multiple of $5,000,000 unless each of the Company and the Administrative Agent otherwise consents, (iii) each partial assignment
      shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement, except that this clause (iii) shall not be construed to prohibit the assignment of a proportionate part of all the
      assigning Lender’s rights and obligations in respect of one Class of Loans, (iv) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of
      $3,500 (payable by the assignor or assignee), (v) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire, and (vi) except in the case of an assignment to a Swingline Lender, no assignment
      of all or any portion of a Swingline Commitment shall become effective until after the Administrative Agent has received all information that it has reasonably requested pursuant to “know your customer” or similar laws or regulations; and provided further that any consent of the Company otherwise required under this paragraph shall not be required if an Event of Default
      under clause (a), (b), (h) or (i) of Article VII has occurred and is continuing at the time of such assignment.  Subject to acceptance and recording thereof pursuant to paragraph (d) of this Section, from and after the effective date specified in
      each Assignment and Assumption, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, shall have the rights and obligations of a Lender under this Agreement, and the assigning
      Lender thereunder shall, 

    

   

  
    
      

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  to the extent of the interest assigned by such
        Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a
        party hereto but shall continue to be (i) entitled to the benefits of Sections 2.13, 2.14, 2.15 and 10.03  with respect to facts and circumstances occurring prior to the effective date of such assignment, and (ii) subject to the confidentiality
        provisions hereof).  Any purported sale, assignment, delegation or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be null and void and instead be treated for purposes of this
        Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section.

  

   

    

  (c)  The Administrative Agent, acting for this
      purpose as a non-fiduciary agent of the Company, shall maintain at one of its offices in The City of New York a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and
      the Commitment of, and principal amount (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).  The entries in the Register
      shall be conclusive absent manifest error, and the Borrowers, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement,
      notwithstanding notice to the contrary.  The Register shall be available for inspection by any Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice.

   

  (d)  Upon its receipt of a duly completed
      Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in
      paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if either the assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to Sections 2.04(b) or (c), 2.05(b), 2.16(d) or 10.03(c),
      the Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with accrued interest thereon.  No
      assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.

   

  (e)  Any Lender may, without the consent of the
      Company, the Administrative Agent or the Swingline Lenders, sell participations to one or more banks or other entities other than the Company or its Subsidiaries (each, a “Participant”) in
      all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (i) such Lender’s
      obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Borrowers, the Administrative Agent and the other Lenders
      shall continue to deal 

   

  
    
      

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  solely and directly with such Lender in connection with
        such Lender’s rights and obligations under this Agreement.  Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
        amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the
        Participant, agree to any amendment, modification or waiver described in the first proviso to Section 10.02(b) that affects such Participant.  Subject to paragraph (f) of this Section, each Borrower agrees that each Participant shall be entitled to
        the benefits of Sections 2.13, 2.14 and 2.15 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that
        such Participant agrees to be subject to the provisions of Section 2.17 as if it were an assignee under paragraph (b) of this Section.  To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as
        though it were a Lender; provided such Participant agrees to be subject to Section 2.16(c) as though it were a Lender.  Each Lender that sells a participation shall, acting solely for
        this purpose as a non-fiduciary agent of the Borrowers, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations
        under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any
        portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans or its other obligations under this Agreement) except to the extent that
        such disclosure is necessary to establish that such Commitment, Loan or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.  The entries in the Participant Register shall be conclusive absent
        manifest error, and such Lender shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.

  

   

    

  (f)  A Participant shall not be entitled to
      receive any greater payment under Sections 2.13 or 2.15 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, except to the extent such entitlement to receive a greater payment
      results from a Change in Law that occurs after the Participant acquired the applicable participation.  A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.15 unless the Company is
      notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 2.15(g) as though it were a Lender.

   

  (g)  Any Lender may at any time pledge or assign
      a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or central bank, and this Section shall not apply to
      any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or
      substitute any such pledgee or assignee for such Lender as a party hereto.

   

  
    
      

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  SECTION 10.05.  Survival.  All covenants, agreements, representations and warranties made by the Borrowers herein and in
    the certificates or other instruments  delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement (provided, however, that such representations and warranties shall be made or deemed made only as of the Effective Date, the times of
    any Borrowings hereunder, or such other dates on or as of which such representations and warranties are specifically required to be made pursuant to the provisions hereof, including, as applicable, in connection with any Incremental Revolving Facility
    under Section 2.19 or any extension of the Maturity Date pursuant to Section 2.20) and the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent or any
    Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or
    any fee or any other amount payable under this Agreement is outstanding and unpaid and so long as the Commitments have not expired or terminated.  The provisions of Sections 2.13, 2.14, 2.15 and 10.03 and Article VIII shall survive and remain in full
    force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Commitments or the termination of this Agreement or any provision hereof.

   

  SECTION 10.06.  Counterparts; Integration; Effectiveness.  This Agreement and any other Loan Document may be executed in counterparts (and by
    different parties hereto on different counterparts), each of which shall constitute an original, but all of which, when taken together, shall constitute a single contract.  This Agreement and any separate letter agreements with respect to fees payable
    to the Administrative Agent and certain Lenders constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter
    hereof.  Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear
    the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

   

  

  
    (b)  Delivery of an executed counterpart of a
        signature page of (x) this Agreement, (y) any other Loan Document and/or (z) any document, amendment, approval, consent, information, notice (including, for the avoidance of doubt, any notice delivered pursuant to Section 10.01), certificate,
        request, statement, disclosure or authorization related to this Agreement, any other Loan Document and/or the transactions contemplated hereby and/or thereby (each an “Ancillary Document”)
        that is an Electronic Signature transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement,
        such other Loan Document or such Ancillary Document, as applicable.  The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Agreement, any other Loan Document and/or any Ancillary 

  

   

  
    
      

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  Document shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image
    of an actual executed signature page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be;
    provided that nothing herein shall require the Administrative Agent to accept Electronic Signatures in any form or format without its prior written consent and pursuant to procedures approved by it; provided, further, without limiting the foregoing,
    (i) to the extent the Administrative Agent has agreed to accept any Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of any Borrower without
    further verification thereof and without any obligation to review the appearance or form of any such Electronic Signature and (ii) upon the request of the Administrative Agent or any Lender, any Electronic Signature  shall be promptly followed by a
    manually executed counterpart.  Without limiting the generality of the foregoing, each Borrower hereby (i) agrees that, for all purposes, Electronic Signatures transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image
    of an actual executed signature page and/or any electronic images of this Agreement, any other Loan Document and/or any Ancillary Document shall have the same legal effect, validity and enforceability as any paper original, (ii) the Administrative
    Agent and each of the Lenders may, at its option, create one or more copies of this Agreement, any other Loan Document and/or any Ancillary Document in the form of an imaged electronic record in any format, which shall be deemed created in the ordinary
    course of such Person’s business, and destroy the original paper document (and all such electronic records shall be considered an original for all purposes and shall have the same legal effect, validity and enforceability as a paper record), (iii)
    waives any argument, defense or right to contest the legal effect, validity or enforceability of this Agreement, any other Loan Document and/or any Ancillary Document based solely on the lack of paper original copies of this Agreement, such other Loan
    Document and/or such Ancillary Document, respectively, including with respect to any signature pages thereto and (iv) waives any claim against any Lender-Related Person for any Liabilities arising solely from the Administrative Agent’s and/or any
    Lender’s reliance on or authorized use of Electronic Signatures and/or transmissions by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page, including any Liabilities arising as a result of
    the failure of any Borrower to use any available security measures in connection with the execution, delivery or transmission of any Electronic Signature.
   

  SECTION 10.07.  Severability.  Any provision of this Agreement held to be invalid, illegal or unenforceable in any
    jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a
    particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

   

  
    
      

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  SECTION 10.08.  Right of Setoff.  If an Event of Default shall have occurred and be continuing, each Lender and each of
    its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations
    at any time owing by such Lender or Affiliate to or for the credit or the account of the Company or any Borrowing Subsidiary against any and all of the obligations of the Company or such Borrowing Subsidiary now or hereafter existing under this
    Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured.  Each Lender shall promptly notify the Company and the Administrative Agent after
    any such setoff and application made by such Lender.  The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have.

   

  SECTION 10.09.  Governing Law; Jurisdiction; Consent to Service of Process.  (a)    This Agreement and the other Loan
    Documents shall be construed in accordance with and governed by the law of the State of New York.

   

  (b)  Each of the Lenders and the Administrative
      Agent hereby irrevocably and unconditionally agrees that, notwithstanding the governing law provisions of any applicable Loan Document, any claims brought against the Administrative Agent by any Lender relating to this Agreement, any other Loan
      Document or the consummation or administration of the transactions contemplated hereby or thereby shall be construed in accordance with and governed by the law of the State of New York.

   

  (c)  Each of the parties hereto hereby
      irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the United States District Court for the Southern District of New York sitting in the Borough of Manhattan (or if such court lacks subject matter
      jurisdiction, the Supreme Court of the State of New York sitting in the Borough of Manhattan), and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document or the
      transactions relating hereto or thereto, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may (and any such
      claims, cross-claims or third party claims brought against the Administrative Agent or any of its Related Parties may only) be heard and determined in such Federal (to the extent permitted by law) or New York State court.  Each of the parties hereto
      agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.  Nothing in this Agreement or in any other Loan Document
      shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against any Borrower or its properties in the courts of any jurisdiction.  Each of the parties hereto
      hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this
      Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section.  Each of the parties hereto hereby irrevocably waives, to 

    

   

  
    
      

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  the fullest extent permitted by law, the defense of an
        inconvenient forum to the maintenance of such action or proceeding in any such court.

  

   

    

  (d)  Each party to this Agreement irrevocably
      consents to service of process in the manner provided for notices in Section 10.01.  Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other
      manner permitted by law.

   

  SECTION 10.10.  WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
    LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL SUIT, ACTION OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON
    CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
    FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

   

  SECTION 10.11.  Headings.  Article and Section headings and the Table of Contents used herein are for convenience of
    reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

   

  SECTION 10.12.  Confidentiality.  Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality
    of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel, insurers, reinsurers, insurance brokers and other advisors
    on a need-to-know basis (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any
    regulatory authority, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action
    or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of
    or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any securitization, swap or derivative transaction relating to the Company, any Subsidiary, and the obligations
    hereunder, (g) on a confidential basis to any rating agency in connection with rating the Company or the credit facilities provided for herein, (h) with the consent of the Company, or (i) to the extent such Information (i) becomes publicly available
    other than as a result of a breach of this Section or 

   

  
    
      

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  (ii) becomes available to the Administrative Agent or any Lender on a nonconfidential basis from a source other than the Borrowers.  If any Lender or the Administrative Agent is required by any Governmental Authority or any other
      Person to disclose Information or otherwise intends to disclose any Information pursuant to clause (c) of this Section, unless prohibited by law such Lender or the Administrative Agent, as the case may be, shall promptly notify the Company in writing
      so as to provide the Company with the opportunity to seek a protective order or take such other actions that are deemed appropriate by the Company to protect the confidentiality of the Information.  For the purposes of this Section, “Information” means all information received from the Company relating to the Company or its business, other than any such information that is available to the Administrative Agent or any Lender
      on a nonconfidential basis prior to disclosure by the Company and other than information pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry.  Any
      Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such
      Information as such Person would accord to its own confidential information.  Each Lender confirms that it maintains internal policies and procedures, including “ethical wall” procedures, intended to protect against the unlawful use of confidential
      information and such procedures apply to the Information.

   

    

  SECTION 10.13.  Authorization to Distribute
        Certain Materials to Public-Siders; Material Non-Public Information.  (a) EACH LENDER ACKNOWLEDGES THAT INFORMATION FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE COMPANY AND ITS
    SUBSIDIARIES OR SECURITIES THEREOF AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND
    APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS..

   

  (b)  ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE COMPANY OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING,
    THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE COMPANY AND ITS SUBSIDIARIES OR SECURITIES THEREOF.  ACCORDINGLY, EACH LENDER REPRESENTS TO THE COMPANY AND THE ADMINISTRATIVE AGENT THAT IT
    HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW.

   

  

  (c)  If the Company does not file this Agreement with the SEC, then the Company hereby authorizes the Administrative Agent to distribute the execution version 

   

  
    
      

    111

  

  of this Agreement and the Loan Documents to all Lenders, including their Public-Siders.  The Company acknowledges its understanding that Public-Siders and their firms may
    be trading in any of the other parties’ hereto respective securities while in possession of the Loan Documents.

   

  (d)  The Company represents and warrants that none of the information in the Loan Documents constitutes or contains material non-public information within the meaning of
    the federal and state securities laws.  To the extent that any of the executed Loan Documents constitutes at any time a material non-public information within the meaning of the federal and state securities laws after the date hereof, the Company
    agrees that it will promptly make such information publicly available by press release or public filing with the SEC.

   

  SECTION 10.14.  Patriot Act and Beneficial Ownership Regulation.  Each Lender hereby notifies the Company that pursuant
    to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”) and/or the Beneficial Ownership Regulation, it is required to
    obtain, verify and record information that identifies each Borrower, which information includes the name and address of each Borrower and other information that will allow such Lender to identify each Borrower in accordance with the Patriot Act and the
    Beneficial Ownership Regulation.

   

  SECTION 10.15.  Conversion of Currencies.  (a)   If, for the purpose of obtaining judgment in any court, it is necessary
    to convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in
    the relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given.

   

  (b)  The obligations of any Borrower in respect
      of any sum due to any party hereto or any holder of the obligations owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged
      only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in the relevant jurisdiction
      purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, each Borrower agrees, as a separate obligation
      and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss.  The obligations of the Borrowers contained in this Section 10.15 shall survive the termination of this Agreement and the payment of all other amounts
      owing hereunder.

   

    

  SECTION 10.16.  No Fiduciary Duty. 
    The Borrowers acknowledge that the Administrative Agent, each Lender and the Affiliates of each of the foregoing may have  

   

  
    
      

    112

  

  economic interests that
    conflict with those of the Company, the Subsidiaries and their Affiliates. The Company, on behalf of itself and the Subsidiaries, agrees that in connection with all aspects of the Transactions and any communications in connection therewith, the
    Company, the Subsidiaries and their Affiliates, on the one hand, and the Administrative Agent, each Lender and the Affiliates of each of them, on the other hand, will have a business relationship that does not create, by implication or otherwise, any
    fiduciary duty on the part of the Administrative Agent, the Lenders or any Affiliate of any of them, and no such duty will be deemed to have arisen in connection with any such transactions or communications.

   

  SECTION 10.17.  Acknowledgement and Consent to Bail-In of Affected Financial Institutions.  Notwithstanding anything to the contrary in any Loan Document or in any
    other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document may be subject to the Write-Down and Conversion Powers of the
    applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

   

  (a)  the application of any Write-Down and Conversion Powers by an
    applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

   

  (b)  the effects of any Bail-In Action on any such liability,
    including, if applicable:

   

  (i) a reduction in full or in part or cancellation of any such
    liability;

   

  (ii) a conversion of all, or a portion of, such liability into
    shares or other instruments of ownership in such Affected Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted
    by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or

   

  (iii) the variation of the terms of such
      liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.

   

  In the event a Lender has been notified by an applicable Resolution Authority that it has been or may be subject to a Bail-In Action, it shall immediately notify the
    Administrative Agent and the Company.

   

  SECTION 10.18.  Certain ERISA Matters.  (a)  Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants,
    from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and its respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of
    any Borrower or any Subsidiary, that at least one of the following is and will be true:

   

  
    
      

    113

  

  (i) such Lender is not using “plan assets”
      (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans or the Commitments,

   

  (ii) the transaction exemption set forth in one
      or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE
      90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain
      transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement,

   

  (iii) (A) such Lender is an investment fund
      managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and
      perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of
      PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the
      Commitments and this Agreement, or

   

  (iv) such other representation, warranty and
      covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.

   

  (b)  In addition, unless either (1) sub-clause
      (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further
      (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the
      Administrative Agent and its respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of any Borrower or any Subsidiary, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in
      such Lender’s entrance into, participation in, administration of and performance of the Loans or the Commitments (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan
      Document or any documents related hereto or thereto).

   

  
    
      

    114

  

  IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year
    first above written.

  

  

  	 	
          HP INC.,

        
	 	 	 
	 	
          by

        	

        
	 	 	 
	 	 	
          /s/ Zac Nesper

        	 
	 	 	
          Name:  Zac Nesper

        
	 	 	
          Title:  Treasurer

        

  

  

  
    
      

    115

  

  
  	 	JPMorgan Chase Bank, N.A., individually and as Administrative Agent,

        
	 	 	  
	 	
          by

        	

        
	 	 	 
	 	 	
          /s/ Ryan Zimmerman

        	 
	 	 	
          Name:  Ryan Zimmerman

        	 
	 	 	
          Title:  Vice President

        	 

  

  

  
    
      

    116

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

          FIVE-YEAR CREDIT AGREEMENT

        
	 	   
	 	BNP PARIBAS,
	 	 
	 	
          by

        	 	 
	 	 	 	 
	 	 	
          /s/ Brendan Heneghan

        	 
	 	 	
          Name:  Brendan Heneghan

        	 
	 	 	
          Title:  Director

        	 
	 	 	 	 
	 	
          by

        	 	 
	 	 	 	 
	 	 	
          /s/ Nicolas Doche

        	 
	 	 	
          Name:  Nicolas Doche

        	 
	 	 	
          Title:  Vice President

        	 

   

  

  
    
      

    117

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	

        
	 	
          BANK OF AMERICA, N.A.,

        
	 	   
	 	
          by

        	

        
	 	 	 
	 	 	
          /s/ Molly Daniello

        	 
	 	 	
          Name:  Molly Daniello

        	 
	 	 	
          Title:  Director

        	 

   

  

  
    
      

    118

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	  
	 	
          GOLDMAN SACHS BANK USA,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	

        	
          /s/ Kevin Raisch

        	 
	 	

        	
          Name:  Kevin Raisch

        
	 	

        	
          Title:  Authorized Signatory

        

   

  

  
    
      

    119

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          HSBC BANK USA, N.A.,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	
          

          

        	
          /s/ Sam Stockwin

        	 
	 	
          

          

        	
          Name:  Sam Stockwin

        
	 	
          

          

        	
          Title:  Director

        

  

  

  
    
      

    120

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          WELLS FARGO BANK, NATIONAL ASSOCIATION,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	
          

          

        	
          /s/ Karen H. McClain

        	 
	 	
          

          

        	
          Name:  Karen H. McClain

        
	 	
          

          

        	
          Title:  Managing Director

        

   

  

  
    
      

    121

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          CITIBANK, N.A.,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	

        	
          /s/ Robert G. Shaw

        	 
	 	

        	
          Name:  Robert G. Shaw

        
	 	
          

          

        	
          Title:  Vice President

        

  

  

  
    
      

    122

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          MORGAN STANLEY BANK, N.A.,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	
          

          

        	
          /s/ Michael King

        	 
	 	

        	
          Name:  Michael King

        
	 	
          

          

        	
          Title:  Authorized Signatory

        

   

  

  
    
      

    123

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          MUFG Bank, Ltd.

        
	 	  
	 	
          by

        	 
	 	 	 
	 	
          

          

        	
          /s/ Lillian Kim

        	 
	 	

        	
          Name:  Lillian Kim

        

  

  

  
    
      

    124

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          BANCO SANTANDER, S.A., NEW YORK BRANCH,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	
          

          

        	
          /s/ Juan Galan

        	 
	 	
          

          

        	
          Name:  Juan Galan

        
	 	
          

          

        	
          Title:  Managing Director

        
	 	 	 
	 	
          by

        	 
	 	 	 
	 	
          

          

        	
          /s/ Andres Barbosa

        	 
	 	
          

          

        	
          Name:  Andres Barbosa

        
	 	
          

          

        	
          Title:  Managing Director

        

  

  

  
    
      

    125

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          U.S. Bank National Association,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	
          

          

        	
          /s/ Lukas Coleman

        	 
	 	
          

          

        	
          Name:  Lukas Coleman

        
	 	
          

          

        	
          Title:  Vice President

        

  

  

  
    
      

    126

  

  
  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	  
	 	
          STANDARD CHARTERED BANK,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	

        	
          /s/ James Beck

        	 
	 	
          

          

        	
          Name:  James Beck

        
	 	

        	
          Title:  Director

        

  

  

  
    
      

    127

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          SOCIETE GENERALE,

        
	 	

        
	 	
          by

        	 
	 	

        	 
	 	

        	
          /s/ Jonathan Weinberger

        	 
	 	

        	
          Name:  Jonathan Weinberger

        
	 	

        	
          Title:  Managing Director

        

  

  

  
    
      

    128

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          ING Bank N.V., Dublin Branch,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	

        	
          /s/ Sean Hassett

        	 
	 	
          

          

        	
          Name:  Sean Hassett

        
	 	 

        	
          Title:  Director

        
	 	 	 
	 	
          by

        	 
	 	 	 
	 	 

        	
          /s/ Ciaran Dunne

        	 
	 	

        	
          Name:  Ciaran Dunne

        
	 	

        	
          Title:  Director

        

  

  

  
    
      

    129

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	  
	 	
          BANK OF CHINA, LOS ANGELES BRANCH,

        
	 	   
	 	
          by

        	

        
	 	 	  
	 	 	
          /s/ Yong Ou

        	  
	 	 	
          Name:  Yong Ou

        
	 	 	
          Title:  SVB & Branch Manager

        

   

  

  
    
      

    130

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

        
	 	  
	 	
          by

        	 
	 	 	 
	 	

        	
          /s/ Gordon Yip

        	 
	 	

        	
          Name:  Gordon Yip

        
	 	

        	
          Title:  Director

        
	 	 	 
	 	
          by

        	 
	 	 	 
	 	

        	
          /s/ Jill Wong

        	 
	 	

        	
          Name:  Jill Wong

        
	 	

        	
          Title:  Director

        

  

  

  
    
      

    131

  

  	 	
          SIGNATURE PAGE TO THE HP INC.

        
	 	
          FIVE-YEAR CREDIT AGREEMENT

        
	 	 
	 	
          CREDIT SUISSE AG, NEW YORK BRANCH, as Lender

        
	 	  
	 	
          by

        	 
	 	 	 
	 	

        	
          /s/ Doreen Barr

        	 
	 	

        	
          Name:  Doreen Barr

        
	 	

        	
          Title:  Authorized Signatory

        
	 	

        
	 	
          by

        	 
	 	 	 
	 	

        	
          /s/ Komal Shah

        	 
	 	

        	
          Name:  Komal Shah

        
	 	

        	
          Title:  Authorized Signatory

        

  

  

  
    
      

  

  
    Schedule 1.01

    

    

    SUSTAINABILITY TABLE

    

    

    	
            KPI Metrics

          	
            Baseline

          	
            Annual Sustainability Targets and 

            Thresholds

          	 
	 	 	
            FY2021

          	
            FY2022

          	
            FY2023

          	
            FY2024

          	
            FY2025

          	 
	
            GHG Reduction

          	
            Absolute GHG Emissions for 2015 fiscal year

          	
            ≥ 55%

          	
            ≥ 56%

          	
            ≥ 58%

          	
            ≥ 61%

          	
            ≥ 65%

          	
            GHG Reduction Target A

          
	 	 	 	 	 	 
	
            < 50%

          	
            < 50%

          	
            < 52%

          	
            < 55%

          	
            < 59%

          	
            GHG Reduction Threshold A

          
	
            Diversity and Inclusion Rate

          	
            N/A

          	
            ≥ 4.0%

          	
            ≥ 4.5%

          	
            ≥ 5.0%

          	
            ≥ 5.5%

          	
            ≥ 6.0%

          	
            Diversity and Inclusion Rate Target B

          
	 	 	 	 	 	 
	
            < 3.0%

          	
            < 3.5%

          	
            < 4.0%

          	
            < 4.5%

          	
            < 5.0%

          	
            Diversity and Inclusion Rate Threshold B

          

    

    

  

  
    
      

  

  Schedule 2.01

   

    

  REVOLVING COMMITMENTS

  

  

  	 	
          Lender

        	
          Revolving 

          Commitment

        	 
	 	
          JPMorgan Chase Bank, N.A.

        	
          $500,000,000.00

        	 
	 	
          BNP Paribas

        	
          $500,000,000.00

        	 
	 	
          Bank of America, N.A.

        	
          $500,000,000.00

        	 
	 	
          Goldman Sachs Bank USA

        	
          $500,000,000.00

        	 
	 	
          HSBC Bank USA, N.A.

        	
          $500,000,000.00

        	 
	 	
          Wells Fargo Bank, National Association

        	
          $500,000,000.00

        	 
	 	
          Citibank, N.A.

        	
          $290,000,000.00

        	 
	 	
          Morgan Stanley Bank, N.A.

        	
          $145,000,000.00

        	 
	 	
          MUFG Bank, Ltd.

        	
          $145,000,000.00

        	 
	 	
          Banco Santander, S.A., New York Branch

        	
          $290,000,000.00

        	 
	 	
          U.S. Bank National Association

        	
          $290,000,000.00

        	 
	 	
          Standard Chartered Bank

        	
          $180,000,000.00

        	 
	 	
          Societe Generale

        	
          $180,000,000.00

        	 
	 	
          ING Bank N.V., Dublin Branch

        	
          $180,000,000.00

        	 
	 	
          Bank of China, Los Angeles Branch

        	
          $100,000,000.00

        	 
	 	
          Credit Agricole Corporate and Investment Bank

        	
          $100,000,000.00

        	 
	 	
          Credit Suisse AG, New York Branch

        	
          $100,000,000.00

        	 
	 	
          Total

        	
          $5,000,000,000.00

        	 

  

  

  SWINGLINE COMMITMENTS

  

  

  	 	
          Lender

        	
          Swingline 

          Commitment

        	 
	 	
          JPMorgan Chase Bank, N.A.

        	
          $250,000,000.00

        	 
	 	
          BNP Paribas

        	
          $250,000,000.00

        	 
	 	
          Bank of America, N.A.

        	
          $250,000,000.00

        	 
	 	
          Goldman Sachs Bank USA

        	
          $250,000,000.00

        	 
	 	
          HSBC Bank USA, N.A.

        	
          $250,000,000.00

        	 
	 	
          Wells Fargo Bank, National Association

        	
          $250,000,000.00

        	 
	 	
          Total

        	
          $1,500,000,000.00

        	 

  

  
    
      

  

  Schedule 3.05

   

  LITIGATION AND ENVIRONMENTAL MATTERS

  

  

  None.

   

  
    
      

  

  Schedule 6.01

   

  EXISTING SUBSIDIARY INDEBTEDNESS

  

  

  Obligations of Subsidiaries in respect of sale and leaseback transactions of approximately $263 million.

   

  Other Indebtedness of Subsidiaries of approximately $31.6 million.

   

  
    
      

  

   EXHIBIT A

  

   

  

  
    [FORM OF] 

     

    ASSIGNMENT AND ASSUMPTION

     

    This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between the Assignor (as defined below) and the Assignee (as defined
      below).  Capitalized terms used in this Assignment and Assumption and not otherwise defined herein have the meanings specified in the Credit Agreement dated as of May 26, 2021 (as amended, restated, supplemented or otherwise modified from time to
      time, the “Credit Agreement”), among HP Inc. (the “Company”), the Borrowing Subsidiaries from time to time party thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative

        Agent”), receipt of a copy of which is hereby acknowledged by the Assignee.  The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and
      Assumption as if set forth herein in full.

     

    For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the
      Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below, (i) all of the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and
      any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the facility identified below
      (including participations in any Swingline Loans included in such facility) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender)
      against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any
      of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the
      rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”).  Such sale and assignment is without recourse to the Assignor and, except as expressly provided
      in this Assignment and Assumption, without representation or warranty by the Assignor.

     

    
      	 	
              1.

            	
              Assignor (the “Assignor”):

            

    

     

    
      	 	
              2.

            	
              Assignee (the “Assignee”):

            

    

     

    [Assignee is an Affiliate of: [Name of Lender]]

     

    

    	

          	3.	
            Borrowers:  HP Inc. and any Wholly-Owned Subsidiary that has been designated by the Company as a Borrowing Subsidiary

          

     

    
      	 	
              4.

            	
              Administrative Agent: JPMorgan Chase Bank, N.A.

            

    

     

    
      	 	
              5.

            	
              Assigned Interest:

            

    

     

    
      
        

    

    	 	 	
            Aggregate Amount

            of

            Commitment/Loans

            of all Lenders

          	 	
            Amount of

            Commitment/Loans

            Assigned

          	 	
            Percentage

            Assigned of

            Commitment/

            Loans1

          	 
	
            Commitment

          	 	
            $

          	 	 	
             

          	 	 	
            $

          	
            %

          	 
	
            Loans

          	 	
            $

          	 	 	
             

          	 	 	
            $

          	
            %

          	 

     

    Effective Date:                     , 20[ ] [TO BE INSERTED BY THE ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR].

     

      
        

    

    1 Set forth, to at least 8 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

    
      
        

    

    The terms set forth in this Assignment and Assumption are hereby agreed to:

    

    

    	 	
            [NAME OF ASSIGNOR], as

            Assignor,

          
	 	 
	 	
            by

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	 	
            [NAME OF ASSIGNEE]2, as

            Assignee,

          
	 	 
	 	
            by

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

  

   
    

    2 Must not be a Defaulting Lender, natural person or investment vehicle or trust for the primary benefit of a natural
      person or relatives of a natural person.

    
      
        

    

    [Consented to and]3 Accepted:

     

    	
            JPMORGAN CHASE BANK, N.A.,

            as Administrative Agent,

          
	 
	
            by

          	 
	 	
            Name:

          
	 	
            Title:

          

    

    

    [Consented to:]

     

    	
            [EACH SWINGLINE LENDER],

            as Swingline Lender,

          
	 
	
            by

          	 
	 	
            Name:

          
	 	
            Title:]4

          

    

    

    

    

    	
            [HP INC.,

            as the Company,

          
	 
	
            by

          	 
	 	
            Name:

          
	 	
            Title:]5

          

    

    

    
      
 

     

      

    3 No consent of the Administrative Agent shall be required for an assignment to a Lender or an Affiliate of a Lender.

    4 No consent of the Swingline Lenders shall be required for an assignment to a Lender or an Affiliate of a Lender.

    5 No consent of the Company shall be required for an assignment to a Lender, an Affiliate of a Lender or, if an Event of Default under clause (h) or (i) of Article
      VII of the Credit Agreement has occurred and is continuing, any other assignee.

     

    

    
      
        

    

    
      ANNEX 1

       

    

    STANDARD TERMS AND CONDITIONS FOR

    ASSIGNMENT AND ASSUMPTION6

     

    1.  Representations and Warranties.

     

    1.1  Assignor.  The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other
      adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect
      to (i) any statements, warranties or representations made in or in connection with the Credit Agreement, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement, (iii) the financial condition
      of the Company or any of its Subsidiaries or Affiliates or (iv) the performance or observance by the Company or any other Person of any of their respective obligations under the Credit Agreement.

     

    1.2.  Assignee.  The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate
      the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest
      and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it
      has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, and such other documents and information as it has deemed appropriate to make its own credit
      analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender,
      or any of the Related Parties of any of the foregoing, (v) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision to
      acquire the Assigned Interest, is experienced in acquiring assets of such type and (vi) attached to this Assignment and Assumption is any documentation required to be delivered by it pursuant to Section 2.15(g) of the Credit Agreement, duly completed
      and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Assignor, the Administrative Agent or any other Lender or any of their respective Related Parties, and based on such documents and information
      (which may contain material, non-public information within the meaning of the United States securities laws concerning the Company and its Affiliates) as it shall deem appropriate at the time, continue to make its own credit decisions in taking or
      not taking action under the Credit Agreement, and (ii) it will perform in accordance with their terms all of the 

    

     

    
      
        
 

      6 Capitalized terms used and not otherwise defined herein have the meanings specified in the Credit Agreement dated as
        of May 26, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among HP Inc., the Lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent.

    

     

    

    
      
        

    

    obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender.

     

    

    2.  Payments.  From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the
      Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

     

    3.  General Provisions.  This Assignment and Assumption shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.  This Assignment and Assumption may be
      executed in any number of counterparts, which together shall constitute one instrument.  Delivery of an executed counterpart of a signature page of this Assignment and Assumption by facsimile or other electronic transmission shall be as effective as
      delivery of a manually executed counterpart of this Assignment and Assumption.  This Assignment and Assumption shall be construed in accordance with and governed by the law of the State of New York.

    

    
      
        

    

    
      EXHIBIT C-1

       

    

    [FORM OF]

     

    BORROWING SUBSIDIARY JOINDER AGREEMENT

     

    BORROWING SUBSIDIARY JOINDER AGREEMENT dated as of [•] (this “Agreement”), among HP INC., (the “Company”), [NAME OF NEW BORROWING SUBSIDIARY], a [JURISDICTION] [ORGANIZATIONAL FORM] (the “New Borrower”)

      and JPMORGAN CHASE BANK, N.A., as administrative agent (the “Administrative Agent”).

     

    Reference is made to the Credit Agreement dated as of May 26, 2021 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Company, the Borrowing Subsidiaries from
      time to time party thereto, the Lenders from time to time party thereto and the Administrative Agent.  Each capitalized term used but not defined herein shall have the meaning assigned to it in the Credit Agreement.

     

    Under the Credit Agreement, the Lenders have agreed, upon the terms and subject to the conditions set forth therein, to make Loans to the Borrower, and the Company and the New Borrower desire that the New Borrower
      becomes a “Borrower” under the Credit Agreement.  Each of the Company and the New Borrower represent and warrant that the representations and warranties of the Company in the Credit Agreement relating to the New Borrower and this Agreement are true
      and correct in all material respects on and as of the date hereof.  The Company agrees that the guarantee of the Company contained in the Credit Agreement will apply to the Obligations of the New Borrower.

     

    Upon execution and delivery of this Agreement (and of any other documents reasonably requested by the Administrative Agent) by each of the Company, the New Borrower and the Administrative Agent and the satisfaction of
      the other conditions set forth in Section 4.03 of the Credit Agreement, the New Borrower shall become a party to the Credit Agreement and a “Borrower” for all purposes thereof; provided that this Agreement
      shall not become effective if it shall be unlawful (a) for the New Borrower to become a “Borrower” thereunder or (b) for any Lender participating in a Loan under which the New Borrower may borrow to make Loans or otherwise extend credit to the New
      Borrower as provided therein.

     

    
      
        

    

    The New Borrower hereby agrees to be bound by all provisions of the Credit Agreement.  The Applicable Funding Account for the New Borrower shall be:

     

    	
            Bank

          	
            Swift

          	
            Acct

          	
            ABA

          	
            IBAN/ Routing

            Code

          
	 	 	 	 	 

    

    

    THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     

    
      
        

    

    IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.

     

    	 	
            HP INC.,

          
	 	 
	 	
            by

          	

          
	 	 	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	 	
            [NAME OF NEW BORROWER],

          
	 	 
	 	
            by

          	

          
	 	 	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	 	
            JPMORGAN CHASE BANK, N.A., as Administrative Agent,

          
	 	 
	 	
            by

          	

          
	 	 	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    
      
        

    

    
      EXHIBIT C-2

       

      

    

    [FORM OF]

     

    BORROWING SUBSIDIARY TERMINATION AGREEMENT

     

    JPMorgan Chase Bank, N.A.,

    as administrative agent under the Credit Agreement referred to below,

    500 Stanton Christiana Road

    NCC5 / 1st Floor

    Newark, Delaware 19713

    Attention: Loan & Agency Services Group

    Fax No. (302) 455-3768

    Email: bryan.a.cook@jpmchase.com

    

    

    [DATE]

     

    

    Re:  Borrowing Subsidiary Termination Agreement

     

    Ladies and Gentlemen:

     

    Reference is made to the Credit Agreement dated as of May 26, 2021 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among HP Inc. (the “Company”), the Borrowing
      Subsidiaries from time to time party thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”).  Each capitalized term used but not defined herein shall have the
      meaning assigned to it in the Credit Agreement.

     

    The Company hereby terminates the status of [NAME OF TERMINATED BORROWING SUBSIDIARY] (the “Terminated Borrower”) as a “Borrower” under the Credit Agreement.  [The Company represents and warrants that all Loans
      made to the Terminated Borrower have been repaid and all amounts payable by the Terminated Borrower in respect of interest and/or fees (and, to the extent notified by the Administrative Agent or any Lender, any other amounts payable under the Credit
      Agreement by the Terminated Borrower) have been paid in full on or prior to the date hereof.][The Company and the Terminated Borrower acknowledge that the Terminated Borrower shall continue to be a Borrower until such time as all Loans made to the
      Terminated Borrower have been repaid and all amounts payable by the Terminated Borrower in respect of interest and/or fees (and, to the extent notified by the Administrative Agent or any Lender, any other amounts payable under the Credit Agreement by
      the Terminated Borrower) have been paid in full; provided that the Terminated Borrower shall not have the right to request or receive further extensions of credit under the Credit Agreement.]

     

    
      
        

    

    THIS INSTRUMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     

    	 	
            Very truly yours,

          
	 	 
	 	
            HP INC.,

          
	 	 
	 	
            by

          	 
	 	 	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    
      
        

    

    
      EXHIBIT D-1

    

     

    

    [FORM OF]

     

    U.S. TAX COMPLIANCE CERTIFICATE

    (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

     

    Reference is made to the Credit Agreement dated as of May 26, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among HP Inc. (the “Company”), the
      Borrowing Subsidiaries from time to time party thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”).

     

    Pursuant to the provisions of Section 2.15 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any promissory note(s) evidencing such
      Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a 10-percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the
      Code and (iv) it is not a controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code.

     

    The undersigned has furnished the Administrative Agent and the Company with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable.  By executing this
      certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Administrative Agent, and (2) the undersigned shall have at all times furnished the
      Company and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

     

    Unless otherwise defined herein, terms defined in the Credit Agreement and used herein have the meanings given to them in the Credit Agreement.

     

    	
            [NAME OF LENDER]

          
	 
	
            By:

            

          	

          
	 	
            Name:

          
	 	
            Title:

          

     

    Date: ________ __, 20[  ]

     

    
      
        

    

    
      EXHIBIT D-2

    

     

    

    [FORM OF]

     

    U.S. TAX COMPLIANCE CERTIFICATE

    (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

     

    Reference is made to the Credit Agreement dated as of May 26, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among HP Inc. (the “Company”), the
      Borrowing Subsidiaries from time to time party thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”).

     

    Pursuant to the provisions of Section 2.15 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii)
      its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect to such participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to
      a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a 10-percent shareholder of the Company within the meaning
      of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code.

     

    The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form
      W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable, from each of such partner's/member's beneficial owners that is
      claiming the portfolio interest exemption.  By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall
      have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

     

    Unless otherwise defined herein, terms defined in the Credit Agreement and used herein have the meanings given to them in the Credit Agreement.

     

    	
            [NAME OF PARTICIPANT]

          
	 
	
            By:

            

          	 
	 	
            Name:

          
	 	
            Title:

          

     

    Date: ________ __, 20[  ]

     

    
      
        

    

    
      EXHIBIT D-3

    

     

    

    [FORM OF]

     

    U.S. TAX COMPLIANCE CERTIFICATE

    (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)

     

    Reference is made to the Credit Agreement dated as of May 26, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among HP Inc. (the “Company”), the
      Borrowing Subsidiaries from time to time party thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”).

     

    Pursuant to the provisions of Section 2.15 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this
      certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a 10-percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign
      corporation related to the Company as described in Section 881(c)(3)(C) of the Code.

     

    The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable.  By executing this certificate, the
      undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and
      currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

     

    Unless otherwise defined herein, terms defined in the Credit Agreement and used herein have the meanings given to them in the Credit Agreement.

     

    	
            [NAME OF PARTICIPANT]

          
	 
	
            By:

            

          	 
	 	
            Name:

          
	 	
            Title:

          

     

    Date: ________ __, 20[  ]

     

    
      
        

    

    
      EXHIBIT D-4

    

     

    

    [FORM OF]

     

    U.S. TAX COMPLIANCE CERTIFICATE

    (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

     

    Reference is made to the Credit Agreement dated as of May 26, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among HP Inc. (the “Company”), the
      Borrowing Subsidiaries from time to time party thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”).

     

    Pursuant to the provisions of Section 2.15 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any promissory note(s) evidencing such Loan(s)) in
      respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any promissory note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit
      pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or
      business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a 10-percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or
      indirect partners/members is a controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code.

     

    The undersigned has furnished the Administrative Agent and the Company with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption:
      (i) an IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable, from each of such partner's/member's beneficial
      owners that is claiming the portfolio interest exemption.  By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Company and the
      Administrative Agent, and (2) the undersigned shall have at all times furnished the Company and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to
      the undersigned, or in either of the two calendar years preceding such payments.

     

    Unless otherwise defined herein, terms defined in the Credit Agreement and used herein have the meanings given to them in the Credit Agreement.

     

    	
            [NAME OF LENDER]

          
	 
	
            By:

            

          	 
	 	
            Name:

          
	 	
            Title:

          

     

    Date: ________ __, 20[  ]

     

    

    
      
        

    

    
      EXHIBIT E

      

      

      [FORM OF] PRICING CERTIFICATE

      

      

      JPMorgan Chase Bank, N.A.,

      as Administrative Agent

      500 Stanton Christiana Road

      NCC5 / 1st Floor

      Newark, Delaware 19713

      Fax: (302) 455-3768

      Email: bryan.a.cook@jpmchase.com

      

      

      	Attention:	
              Loan & Agency Services Group

            

      

      

      [Date]

      

      

      Ladies and Gentlemen:

      

      

      Reference is hereby made to the Credit Agreement dated as of May
          26, 2021 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among HP Inc. (the “Company”), the Borrowing Subsidiaries from time to time party thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.  Unless

          otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.  This Pricing Certificate (this “Certificate”)

          is furnished pursuant to Section 5.01(e) of the Credit Agreement.

      

      

      THE UNDERSIGNED HEREBY CERTIFIES SOLELY IN [HIS/HER] CAPACITY AS FINANCIAL OFFICER OF THE COMPANY AND NOT IN AN INDIVIDUAL CAPACITY (AND WITHOUT
        PERSONAL LIABILITY) THAT:

      

      

      1.         I am a duly
            elected Financial Officer of the Company, and I am authorized to deliver this Certificate on behalf of the Company;

      

      

      2.         Attached as Annex A hereto is a true and correct copy of the KPI Metrics Report for the 20[__] fiscal year; and

      

      

      3.         The Sustainability Fee Adjustment in respect of the 20[__] fiscal year is [+][-][___]% per annum, and the Sustainability Rate Adjustment in respect of the 20[__] fiscal year is [+][-][___]% per annum, in
            each case as computed as set forth on Annex B hereto.

      

      

      4.         To the extent not already included in the KPI Metrics Report, attached as Annex
                C hereto is a true and correct copy of the review report of the KPI Metrics Auditor confirming that, with respect to the computations of the GHG Reduction, the
              KPI Metrics Auditor is not aware of any material modifications that should be made to such computations in order for them to be presented in all material respects in conformity with the applicable reporting criteria.

      

      

      The foregoing certifications are made and delivered this _____ day of __________, 20[__].

      

      

      
        
          

      

      	 	
              Very truly yours,

            
	 	 
	 	
              HP INC.,

            
	 	
              as the Company

            
	 	 
	 	
              By:

            	

            	

            
	 	 	
              Name:

            
	 	 	
              Title:EX-10.1

 Exhibit 10.1 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) PRIVATE OR CONFIDENTIAL. SUCH
EXCLUDED INFORMATION IS IDENTIFIED HEREIN WITH “[***].” SCHEDULES AND EXHIBITS HAVE BEEN OMITTED PURSUANT TO ITEM 601(A)(5) OF REGULATION S-K. 

Execution Version 
  

 
 COINSURANCE AND MODIFIED
COINSURANCE AGREEMENT 
 Between 

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY 

(referred to as the Ceding Company) 

and 
 CORPORATE
SOLUTIONS LIFE REINSURANCE COMPANY 
 (referred to as the Reinsurer) 

 
  

 TABLE OF CONTENTS 
  

							
	 ARTICLE I. DEFINITIONS
	  	 	1	 
			
	 Section 1.1.
	 	Definitions	  	 	1	 
		
	 ARTICLE II. BASIS OF REINSURANCE AND BUSINESS REINSURED
	  	 	18	 
			
	 Section 2.1.
	 	Coverage	  	 	18	 
	 Section 2.2.
	 	Insurance Contract Changes	  	 	18	 
	 Section 2.3.
	 	Liability	  	 	18	 
	 Section 2.4.
	 	Indemnity Reinsurance	  	 	18	 
	 Section 2.5.
	 	Territory	  	 	18	 
	 Section 2.6.
	 	Reinstatements	  	 	19	 
	 Section 2.7.
	 	Discovered In-Force Policies and Lapsed Policies	  	 	19	 
	 Section 2.8.
	 	Non-Guaranteed Elements	  	 	20	 
	 Section 2.9.
	 	Retrocession	  	 	20	 
	 Section 2.10.
	 	Separate Accounts	  	 	21	 
	 Section 2.11.
	 	Risk Management	  	 	21	 
	 Section 2.12.
	 	[***]	  	 	22	 
	 Section 2.13.
	 	Significant Transactions	  	 	22	 
	 Section 2.14.
	 	Restrictions on Redomestication	  	 	22	 
		
	 ARTICLE III. PAYMENTS; ADDITIONAL CONSIDERATION
	  	 	22	 
			
	 Section 3.1.
	 	Initial Reinsurance Premium	  	 	22	 
	 Section 3.2.
	 	Additional Consideration	  	 	23	 
	 Section 3.3.
	 	Net Settlement	  	 	23	 
	 Section 3.4.
	 	Delayed Payments	  	 	25	 
	 Section 3.5.
	 	Defenses	  	 	25	 
	 Section 3.6.
	 	Offset	  	 	25	 
	 Section 3.7.
	 	Premium Taxes	  	 	25	 
	 Section 3.8.
	 	Reports from the Reinsurer	  	 	25	 
	 Section 3.9.
	 	Reports from the Ceding Company	  	 	27	 
		
	 ARTICLE IV. ADMINISTRATION
	  	 	27	 
			
	 Section 4.1.
	 	Administration	  	 	27	 
	 Section 4.2.
	 	Current Practices	  	 	28	 
	 Section 4.3.
	 	Performance Standards	  	 	28	 
	 Section 4.4.
	 	Administrative Expense Allowance	  	 	28	 
	 Section 4.5.
	 	Designated Administrative Account	  	 	28	 
	 Section 4.6.
	 	Producers; Selling and Other Agreements	  	 	29	 
	 Section 4.7.
	 	Books and Records and Access	  	 	29	 
	 Section 4.8.
	 	Programs of Internal Replacement; Exchange Programs; Buy-Out Programs	  	 	29	 
	 Section 4.9.
	 	[***]	  	 	30	 
		
	 ARTICLE V. LICENSES; RESERVE CREDIT; SECURITY
	  	 	30	 
			
	 Section 5.1.
	 	Licenses; Reserve Credit	  	 	30	 
	 Section 5.2.
	 	Security	  	 	31	 
	 Section 5.3.
	 	Trust Account and Settlements	  	 	31	 
	 Section 5.4.
	 	Eligible Assets	  	 	31	 

  
 - i - 

							
	 Section 5.5.
	 	Deposit of Assets	  	 	32	 
	 Section 5.6.
	 	Modification Following Certain Events	  	 	32	 
	 Section 5.7.
	 	Withdrawal of Assets from the Trust Account	  	 	33	 
	 Section 5.8.
	 	Adjustment of Security and Withdrawals	  	 	34	 
	 Section 5.9.
	 	Continuation of a Triggering Event	  	 	39	 
		
	 ARTICLE VI. OVERSIGHTS; COOPERATION
	  	 	39	 
			
	 Section 6.1.
	 	Oversights	  	 	39	 
	 Section 6.2.
	 	Cooperation	  	 	39	 
	 Section 6.3.
	 	Changes to RBC	  	 	39	 
		
	 ARTICLE VII. INSOLVENCY
	  	 	40	 
			
	 Section 7.1.
	 	Insolvency of the Ceding Company	  	 	40	 
		
	 ARTICLE VIII. DURATION; RECAPTURE
	  	 	40	 
			
	 Section 8.1.
	 	Duration	  	 	40	 
	 Section 8.2.
	 	Survival	  	 	41	 
	 Section 8.3.
	 	Recapture	  	 	41	 
	 Section 8.4.
	 	Recapture Payments	  	 	42	 
	 Section 8.5.
	 	Termination for Failure to Pay Amounts Due to Reinsurer	  	 	43	 
	 Section 8.6.
	 	Termination Payments	  	 	44	 
	 Section 8.7.
	 	Termination of Trust Account	  	 	45	 
		
	 ARTICLE IX. INDEMNIFICATION
	  	 	45	 
			
	 Section 9.1.
	 	Reinsurer’s Obligation to Indemnify	  	 	45	 
	 Section 9.2.
	 	Ceding Company’s Obligation to Indemnify	  	 	45	 
	 Section 9.3.
	 	Applicability of Master Transaction Agreement	  	 	45	 
	 Section 9.4.
	 	Good Faith	  	 	46	 
		
	 ARTICLE X. TAXES
	  	 	46	 
			
	 Section 10.1.
	 	Withholding	  	 	46	 
	 Section 10.2.
	 	DAC Tax Adjustment	  	 	46	 
		
	 ARTICLE XI. MISCELLANEOUS
	  	 	47	 
			
	 Section 11.1.
	 	Expenses	  	 	47	 
	 Section 11.2.
	 	Notices	  	 	47	 
	 Section 11.3.
	 	Severability	  	 	48	 
	 Section 11.4.
	 	Entire Agreement	  	 	48	 
	 Section 11.5.
	 	Assignment	  	 	48	 
	 Section 11.6.
	 	No Third Party Beneficiaries	  	 	49	 
	 Section 11.7.
	 	Amendment	  	 	49	 
	 Section 11.8.
	 	Submission to Jurisdiction	  	 	49	 
	 Section 11.9.
	 	Governing Law	  	 	49	 
	 Section 11.10.
	 	Waiver of Jury Trial	  	 	49	 
	 Section 11.11.
	 	Specific Performance	  	 	49	 
	 Section 11.12.
	 	Waivers	  	 	50	 
	 Section 11.13.
	 	Rules of Construction	  	 	50	 
	 Section 11.14.
	 	Counterparts	  	 	51	 

  
 - ii - 

							
	 Section 11.15.
	 	Treatment of Confidential Information	  	 	51	 
	 Section 11.16.
	 	Incontestability	  	 	52	 

  

			
	 INDEX OF SCHEDULES AND EXHIBITS

		
	Schedule A	  	Expense Allowances
	Schedule B	  	Investment Guidelines
	Schedule C	  	Types of Reinsured Contracts
	Schedule D	  	Seriatim File
	 Schedule E-1

Schedule E-2
	  	 Required Balance Model and Calculation Methodologies

Milliman CTE Model and Calculation Methodologies

	 Schedule F-1

Schedule F-2
	  	 Reinsurer Sensitivity Grid
 Ceding Company
Sensitivity Grid

	 Schedule G-1

Schedule G-2
 Schedule G-3
	  	 Risk Management Policy
 FMV Derivatives
Report
 Daily Derivatives Report

	Schedule H	  	Recapture Terminal Settlement
	Schedule I	  	Termination Terminal Settlement
	Schedule J	  	Separate Accounts
	Schedule K	  	Fair Market Value Methodologies
	 Schedule L
 Schedule M

Schedule N
 Schedule O

Schedule P
	  	 Permitted Replacement Programs, Exchange Programs and Buyout Programs

Reserve Grade-In
 Ceding
Company Reporting
 Exceptions
 Risk Management Policy
Compliance

		
	 Exhibit 1
 Exhibit 2
	  	 Form of Settlement Statement
 Form of Trust
Agreement

	Exhibit 3	  	Form of Guarantee

  
 - iii - 

 COINSURANCE AND MODIFIED COINSURANCE AGREEMENT 

THIS COINSURANCE AND MODIFIED COINSURANCE AGREEMENT (this “Agreement”) is made and entered into on June 1,
2021 (the “Closing Date”) and effective as of the Effective Time by and between Equitable Financial Life Insurance Company, a New York-domiciled insurance company (the “Ceding Company”), and Corporate Solutions Life
Reinsurance Company, a Delaware-domiciled insurance company (the “Reinsurer”). For purposes of this Agreement, the Ceding Company and the Reinsurer shall each be deemed a “Party” and together the
“Parties.” 
 WHEREAS, Equitable Holdings, Inc., Venerable Insurance and Annuity Company and, solely with respect to
Article XIV thereof, Venerable Holdings, Inc., a Delaware corporation (“Venerable Holdings”), have entered into a Master Transaction Agreement dated as of October 27, 2020 (the “Master Transaction Agreement”);

 WHEREAS, the Master Transaction Agreement provides, among other things, for the Ceding Company and the Reinsurer to enter into
this Agreement; 
 WHEREAS, simultaneously with the execution and delivery of this Agreement on the date hereof, the Ceding Company,
the Reinsurer and the Trustee (as defined below) will enter into the Trust Agreement (as defined below) pursuant to which the Trustee will hold assets as security for the satisfaction of the obligations of the Reinsurer to the Ceding Company under
this Agreement; and 
 WHEREAS, simultaneously with the execution and delivery of this Agreement on the date hereof, Venerable
Holdings and VA Capital Company LLC, a Delaware limited liability company (“VA Capital”), will enter into the Guarantee (as defined below) pursuant to which Venerable Holdings and any additional Guarantor (as defined below) under
the Guarantee will guaranty the Reinsurer’s payment obligations to the Ceding Company hereunder. 
 NOW, THEREFORE, in
consideration of the mutual and several promises and undertakings herein contained, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Ceding Company and the Reinsurer agree as follows: 

ARTICLE I. 
 DEFINITIONS

 Section 1.1.    Definitions. The following terms have the
respective meanings set forth below throughout this Agreement: 
 “Action” means any claim, action, suit, litigation,
arbitration or proceeding by or before any Governmental Authority or arbitrator or arbitration panel or similar Person or body. 

“Additional Consideration” has the meaning set forth in Section 3.2. 

“Adjusted Month-End Required Balance” has the meaning set forth in
Section 5.8(a). 
 “Adjusted Net Worth” means, with respect to any Person, all of the assets of
such Person minus all of the liabilities of such Person; provided, that for purposes of calculating the assets of such Person, the value of any Subsidiary of such Person that is a licensed insurance company shall be equal to the “total
adjusted capital” of such Subsidiary, as calculated in accordance with the statutory accounting principles applicable to such Subsidiary as of such date. 

  
 - 1 - 

 “Affiliate” means, with respect to any specified Person, any other Person
that, at the time of determination, directly or indirectly through one or more intermediaries, Controls, is Controlled by or is under common Control with such specified Person; provided, that, following the Closing Date, with respect to the
Ceding Company, “Affiliate” means Equitable Holdings, Inc. and its direct and indirect Subsidiaries, but, for the avoidance of doubt, does not include the Reinsurer. 

“Affiliate Retrocessionaire” means any Retrocessionaire that is Affiliated with the Reinsurer at the time of the initial
retrocession or any time thereafter. 
 “Agreement” has the meaning set forth in the preamble. 

“Allocated Premium Taxes” means, in respect of any Monthly Accounting Period, Premium Taxes allocable to the Reinsured
Contracts which shall be an amount equal to the Premiums received under the Reinsured Contracts in such Monthly Accounting Period multiplied by 1.2 basis points; provided, however, the Parties agree to increase or decrease this amount, as
appropriate, should either (i) any jurisdictions which do not as of the Effective Time impose a Premium Tax on annuities adopt such a tax following the Effective Time or (ii) any jurisdictions which do as of the Effective Time impose a
Premium Tax on annuities no longer impose such a tax following the Effective Time. 
 “Applicable Tax
Gross-Up Percentage” means one minus the highest federal tax rate applicable to United States corporations as of the Effective Time or, in the event of a recapture or termination, the Recapture
Date or Termination Date, as applicable. 
 [***] 

“Benefit Base” means the guaranteed balance (as described in the applicable prospectus) used to determine claims payable to
Policyholders of the Reinsured Contracts under guaranteed minimum income benefit provisions of the Reinsured Contracts in deferred status. 

“Books and Records” means all books and records that relate to the Reinsured Contracts and the Separate Accounts, including
administrative records, claim records, sales records, underwriting records, financial records, reinsurance records, compliance records and other records, in whatever form maintained, but excluding certificates of incorporation, bylaws, corporate
seals, licenses to do business, minute books and other corporate records relating to the corporate organization or capitalization of Ceding Company or its Affiliates, tax returns or records, records of any employee of Ceding Company or its
Affiliates, benefit plan records with respect to any employee of Ceding Company or its Affiliates, and books and records that are subject to the attorney-client, work product, or other similar privilege or doctrine. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in the City of New York,
New York are required or authorized by Law to be closed. 
 “Capital Reporting Deadline” means, with respect to a calendar
month other than the last month of a calendar year, the date that is thirty (30) calendar days after the end of such calendar month, and with respect to the last calendar month of a calendar year, the date that is sixty (60) calendar days
after the end of such calendar month; provided, however, that in the event the RBC 

  
 - 2 - 

 
Ratio of the Reinsurer or any Affiliate Retrocessionaire as of any calendar month-end other than a calendar
month-end that is also a calendar year-end was below the amount described in clause (b) of the definition of “FMV Triggering Event” or in clause
(b) of the definition of “Recapture Event,” the Capital Reporting Deadline for the Reinsurer or such Affiliate Retrocessionaire, as applicable, for the following calendar month (regardless of whether such calendar month end-date is also the last calendar month of a calendar year) shall be the date that is twenty (20) calendar days after the end of such calendar month. 

“Capital Stock” means any capital stock of, or other type of equity ownership interest in, as applicable, a Person. 

“Ceding Company” has the meaning set forth in the preamble. 

[***] 
 “Ceding Company
Domiciliary State” means the State of New York, or, if the Ceding Company changes its state of domicile to another state within the United States, such other state. 

[***] 
 “Ceding Company
Extra-Contractual Obligations” means all Extra-Contractual Obligations other than Reinsurer Extra-Contractual Obligations. 

“Ceding Company Indemnified Parties” has the meaning set forth in Section 9.1. 

“Ceding Company Sensitivity Grid” has the meaning set forth in
Schedule F-2. 
 “Ceding Company Statutory Reserves”
means, as of any date of determination, the aggregate statutory reserve (including unearned premium reserves and other premium accruals) amount for the General Account Liabilities calculated in accordance with the Ceding Company Domiciliary State
SAP that would be applicable to Ceding Company (as would be reflected on Line 1, column 1 of the Liabilities section and Exhibit 5 and Line 3, column 1 of the Liabilities section and Exhibit 7 of the Ceding Company’s Statutory Financial
Statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2019)), as calculated as of such date (without giving effect to this Agreement) using
the same process and methodologies for modeling and setting assumptions as used by the Ceding Company in calculating the statutory reserves of the Ceding Company’s variable annuity business that is not reinsured hereunder or reinsured to a
third party under any other agreement; provided, however, that Ceding Company Statutory Reserves shall at all times (i) be calculated on a stand-alone basis without regard to any other business of the Ceding Company and
(ii) include any additional reserves that would be required as a result of stand-alone asset adequacy testing for the General Account Liabilities if they were not reinsured. For this purpose, stand-alone asset adequacy testing shall
reflect assets and derivative positions consistent with how the General Account Liabilities would be managed if they were not reinsured. 

“Ceding Commission” means $105,000,000. 

“Closing Date” has the meaning set forth in the preamble. 

  
 - 3 - 

 “Code” means the United States Internal Revenue Code of 1986. 

“Company Action Level RBC” means, with respect to any insurance company, company action level RBC as calculated in accordance
with the applicable Laws of such insurance company’s state of domicile. 
 [***] 

“Confidential Information” with respect to a Party, means any and all information provided by, made available by or obtained
on behalf of such Party, any of its Affiliates or Representatives, on, before or after the date hereof, including, with respect to the Ceding Company, Non-Public Personal Information and all data relating to
the Policyholders of the Reinsured Contracts which are maintained, processed or generated by the Ceding Company or, if applicable, the Reinsurer in connection with the Reinsured Liabilities and including the contents of this Agreement or the other
Transaction Agreements not otherwise publicly disclosed, but shall not include the existence of this Agreement and the identity of the Parties; provided, that Confidential Information does not include information that (a) is generally
available to the public other than as a result of a disclosure by the receiving Party in violation of its confidentiality obligation, (b) is independently developed by the receiving Party, its Affiliates or any of its Representatives without
use or access to the disclosing Party’s Confidential Information, or (c) is rightfully obtained by the receiving Party from a third party without, to the knowledge of the receiving Party, breach by such third party of a duty of
confidentiality of any nature to the disclosing Party; and provided, further, that the foregoing exceptions shall not supersede the obligations of the receiving Party with respect to any
Non-Public Personal Information. 
 “Control” means, with respect to any Person,
the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. Control will be presumed to exist if any Person directly or indirectly owns,
controls or holds with the power to vote ten percent or more of the voting securities of any other Person. The terms “Controlled,” “Controlled by,” “under common Control with” and “Controlling” shall have
correlative meanings. 
 “CTEX Amount” means, as of any date of determination, an amount equal to the arithmetic mean of
the statutory carrying value of assets required as of such date to satisfy contractholder obligations (or the greatest present value of accumulated deficiencies) as defined in the VM-21 guidelines relating to
the Reinsured Contracts (other than with respect to which periodic contract payments are being made as of the applicable date of determination) in the worst Y of the 1,000 statutory stochastic capital market scenarios determined in accordance with
the Required Balance Model and Calculation Methodologies, where (a) X is 70 as of the Effective Time but will be adjusted in accordance with Schedule E-1 and (b) Y is equal to the sum of (i)
1,000 minus (ii) the product of X as of such date of determination and 10. 
 “DAC Tax Election” has the meaning
specified in Section 10.2(a). 
 [***] 

“Daily Derivatives Report” has the meaning set forth in [***]. 

  
 - 4 - 

 [***] 

“Derivative Collateral Account” has the meaning set forth in the Trust Agreement. 

[***] 
 “Designated
Administrative Account” means a bank account of the Ceding Company at a bank reasonably acceptable to the Reinsurer to be used by the Ceding Company to pay General Account Liabilities. 

“Discovered Contract” has the meaning specified in Section 2.7(a). 

“Discovered Contract Transfer Amount” means, with respect to all of the Discovered Contracts transferred pursuant to
Section 2.7(a), in the aggregate, the sum of the following amounts: (a) the difference between (i) the Quota Share of the Milliman CTE61.1 Amount in respect of the Reinsured Risks, inclusive of all of the
Discovered Contracts, minus (ii) the Quota Share of the Milliman CTE61.1 Amount in respect of the Reinsured Risks, excluding all of the Discovered Contracts, in the case of each of (i) and (ii), determined as of the Discovered
Contract Transfer Time and in accordance with the Milliman CTE Model and Calculation Methodologies that were used to calculate the Milliman CTE61.1 Amount transferred at the Effective Time; plus (b) the Quota Share of the Existing IMR
Amount determined solely in respect of such Discovered Contracts as of the Discovered Contract Transfer Time, divided by the Applicable Tax Gross-Up Percentage; plus (c) the Transaction IMR
Amount determined solely in respect of such Discovered Contracts as of the Discovered Contract Transfer Time, divided by the Applicable Tax Gross-Up Percentage; minus (d) the Policy Loan
Balance determined solely in respect of such Discovered Contracts as of the Discovered Contract Transfer Time; minus (e) the amount of Uncollected/Deferred Premiums determined solely in respect of such Discovered Contracts as of the
Discovered Contract Transfer Time. 
 “Discovered Contract Transfer Time” means, with respect to Discovered Contracts
transferred pursuant to Section 2.7(a), 12:01 a.m. (New York time) on the date that is one hundred and eighty (180) calendar days after the Effective Time. 

[***] 
 “Effective
Time” means 12:01 a.m. (New York time) on June 1, 2021. 
 “Eligible Assets” has the meaning set forth in
Section 5.4. 
 “Estimated Closing Statement” has the meaning specified in the Master Transaction
Agreement. 
 “Estimated Initial Premium” has the meaning specified in the Master Transaction Agreement. 

“Estimated Initial Required Balance” has the meaning specified in the Master Transaction Agreement. 

“Estimated Recapture Terminal Settlement” has the meaning set forth in Section 8.4(a). 

  
 - 5 - 

 “Estimated Recapture Terminal Settlement Statement” has the meaning set
forth in Section 8.4(a). 
 “Estimated Termination Terminal Settlement” has the meaning set forth
in Section 8.6(a). 
 “Estimated Termination Terminal Settlement Statement” has the meaning set
forth in Section 8.6(a). 
 “Ex Gratia Payments” means a payment that is both
(a) outside the terms and conditions of the applicable Reinsured Contract and (b) made by or on behalf of the Ceding Company without the consent of the Reinsurer. For the avoidance of doubt, payments made in accordance with
Section 4.3(b) or Section 4.3(c) shall not be considered Ex Gratia Payments and shall be deemed Reinsured Liabilities hereunder. 

“Excluded Liabilities” means (a) any and all Ceding Company Extra-Contractual Obligations, (b) any and all
Liabilities resulting from changes to the terms and conditions of any Reinsured Contract after the Effective Time to the extent such changes are in violation of Section 2.2, and (c) any Ex Gratia Payments made
by or on behalf of the Ceding Company. 
 “Existing IMR Amount” means the amount of the Ceding Company’s existing IMR,
calculated on an after-tax basis, that has been allocated by the Ceding Company to the Reinsured Risks as of the Closing Date (but prior to the transfer of assets by the Ceding Company pursuant to
Section 3.1(b)), determined in accordance with SAP applicable to the Ceding Company. 
 “Expense
Allowances” means, for each Monthly Accounting Period, an amount determined in accordance with Schedule A. 

“Extra-Contractual Obligations” means all Liabilities to any Person or Persons arising out of or relating to the Reinsured
Contracts (other than Liabilities arising under the terms and conditions and within the policy limits of the Reinsured Contracts), including any loss in excess of the limits arising under or covered by any Reinsured Contract, any Liabilities for
fines, penalties, Taxes, fees, forfeitures, compensatory, consequential, punitive, exemplary, special, treble, bad faith, tort, statutory or any other form of extra-contractual damages, as well as all legal fees and expenses relating thereto, which
Liabilities arise out of or result from any act, error or omission, whether or not intentional, negligent, fraudulent, in bad faith or otherwise (actual or alleged), arising out of or relating to the Reinsured Contracts, including (a) the form,
sale, marketing, distribution, underwriting, production, issuance, cancellation or administration of the Reinsured Contracts, (b) the investigation, defense, prosecution, trial, settlement (including the failure to settle) or handling of
claims, benefits, or payments under the Reinsured Contracts, (c) the failure to pay or the delay in payment or errors in calculating or administering the payment of benefits, claims or any other amounts due or alleged to be due under or in
connection with the Reinsured Contracts, (d) the failure of the Reinsured Contracts to qualify for their intended tax status, or (e) any fines, penalties, Taxes, fees, forfeitures, or other damages with respect to escheat or unclaimed
property Liabilities arising under or relating to the Reinsured Contracts. 
 “Fair Market Value” means, with respect to
any asset, the value thereof calculated in accordance with the methodology set forth on Schedule K. 
 [***] 

  
 - 6 - 

 “FMV Triggering Event” means any of the following occurrences: 

(a)    the RBC Ratio of the Reinsurer or any Affiliate Retrocessionaire that assumes Reinsured Risks with respect to
Reinsured Contracts that are in pre-payout status as of any calendar year-end is below [***]% and the Reinsurer or such Affiliate Retrocessionaire, as applicable, has
not cured such shortfall as of the applicable Capital Reporting Deadline; provided, that in the event that such Affiliate Retrocessionaire is not a U.S. domiciled insurance company, the foregoing RBC Ratios shall refer to equivalent capital
adequacy ratios determined under the laws of such Affiliate Retrocessionaire’s jurisdiction of domicile as mutually agreed by the Parties; provided, further, that (i) if the Required Balance with respect to Reinsured
Contracts in payout status as of any date of determination is greater than or equal to [***]% of the aggregate Required Balance as of such date and (ii) the CTEX Amount in respect of the Reinsured Contracts in
pre-payout status as of such date is less than $[***], then the RBC Ratio for purposes of this clause (a) shall be [***]%; 

(b)    the RBC Ratio of the Reinsurer or any Affiliate Retrocessionaire that assumes Reinsured Risks with respect to
Reinsured Contracts that are in pre-payout status is below [***]% for two consecutive calendar month-end dates, and the Reinsurer or such Affiliate Retrocessionaire, as
applicable, has not cured such shortfall as of the applicable Capital Reporting Deadline; provided, that in the event that such Affiliate Retrocessionaire is not a U.S. domiciled insurance company, the foregoing RBC Ratios shall refer to
equivalent capital adequacy ratios determined under the laws of such Retrocessionaire’s jurisdiction of domicile as mutually agreed by the Parties; provided, further, that (i) if the Required Balance with respect to Reinsured
Contracts in payout status as of any date of determination is greater than or equal to [***]% of the aggregate Required Balance as of such date, and (ii) the CTEX Amount in respect of the Reinsured Contracts in
pre-payout status as of such date is less than $[***], then the RBC Ratio for purposes of this clause (b) shall be [***]%; 

(c)    the Adjusted Net Worth of all Guarantors in the aggregate is less than the product of (i) $[***] million and
(ii) the In-Force Percentage; 
 (d)    there has been a failure by the
Reinsurer (i) to timely pay Net Settlement amounts in accordance with Section 3.3(a) or Section 3.3(c) and such breach has not been cured within [***] calendar days after written notice
thereof from the Ceding Company; or (ii) to timely fund the Trust Account in accordance with Sections 5.8(f)(i)(1) or 5.8(f)(ii)(1), as applicable, and such breach has not been cured within [***] Business Days, provided,
that such [***] Business Day cure period shall only apply if (A) by 9:00 a.m. (New York time) on the Business Day immediately following such breach, the Reinsurer provides to the Ceding Company a Daily Derivatives Report demonstrating the
Reinsurer’s compliance with the Risk Management Policy as of the close of business on the day that is two Business Days prior to such Business Day and (B) by 1:00 p.m. (New York time) on the Business Day immediately following such breach
and on each subsequent Business Day during such cure period, the Reinsurer provides to the Ceding Company a Daily Derivatives Report demonstrating the Reinsurer’s compliance with the Risk Management Policy (as determined in accordance with
Schedule P) as of the close of business on the immediately preceding Business Day; 
 (e)    a Reserve Credit
Triggering Event has occurred; or 
 (f)    the Reinsurer has been placed into liquidation, rehabilitation,
conservation, supervision, receivership or similar proceedings (whether voluntary or involuntary), or there has been 

  
 - 7 - 

 
instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in bankruptcy, or other agent known by whatever name, to take possession of
its assets or assume control of its operations. 
 “Funding Reports” has the meaning set forth in
Section 5.8(c). 
 [***] 

“General Account Liabilities” means all Liabilities of the Ceding Company (and with respect to clause (c) of this
definition, all Liabilities of any of its Affiliates arising out of or resulting from the Reinsured Contracts, but excluding Separate Account Liabilities and Excluded Liabilities, whether incurred before, at or after the Effective Time, calculated
in accordance with the Ceding Company Domiciliary State SAP. Without limiting the foregoing, “General Account Liabilities” shall include, but not be limited to, any and all of the following Liabilities, but excluding Separate Account
Liabilities and Excluded Liabilities: 
 (a)    all Liabilities for (i) claims, benefits, interest on claims or
unearned premiums, interest on policy funds, withdrawals, surrenders, policy loans, amounts payable for returns or refunds of premiums, guaranteed minimum death benefits, guaranteed minimum income benefits, incurred but not reported claims, pending
claims and benefits (including death benefits, lump sum payments, annuitization payments, deferred payments, payments in respect of market value adjustments, and any other settlement options), unearned premiums, and other contract benefits, in each
case, arising under the terms and conditions of the Reinsured Contracts and whether such amounts are escheated or paid to policyholders or beneficiaries of the Reinsured Contracts and (ii) claim expenses (including all reasonable litigation
expenses related thereto); 
 (b)    all Liabilities arising out of changes to the terms and conditions of the Reinsured
Contracts permitted or required by Section 2.2; 
 (c)    all commissions, expense allowances,
other compensation and obligations payable to Producers with respect to premium paid under the Reinsured Contracts; 

(d)    all assessments and similar charges payable on or after the Effective Time with respect to the Reinsured Contracts
in connection with participation by the Ceding Company or the Reinsurer, whether voluntary or involuntary, in any guaranty association established or governed by any state or other jurisdiction, arising on account of insolvencies, rehabilitations or
similar proceedings occurring before, on or after the Effective Time; 
 (e)    all Allocated Premium Taxes; 

(f)    all Liabilities which relate to Reinsured Contracts that (i) are amounts held in the general account of the
Ceding Company pending transfer to the Separate Accounts, or (ii) contemplate payment from a Separate Account the amount of which exceeds the assets of such Separate Account (without duplication of the amounts set forth in clause
(a) above); and 
 (g)    all Reinsurer Extra-Contractual Obligations. 

“Grade-In Period” has the meaning set forth in Schedule M. 

  
 - 8 - 

 “Grade-In Ratio” has the meaning
set forth in Schedule M. 
 “Grade-In Valuation Date” has the meaning set
forth in Schedule M. 
 “Governmental Authority” means any United States or
non-United States federal, state or local or any supra-national, political subdivision, governmental, legislative, tax, regulatory or administrative authority, instrumentality, agency, body or commission,
self-regulatory organization or any court, tribunal, or judicial or arbitral body having jurisdiction over a Party. 
 “Governmental
Order” means any binding and enforceable order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Authority. 

“Guarantee” means that certain Guarantee, dated as of the date hereof, by Venerable Holdings and VA Capital in favor of the
Ceding Company, substantially in the form attached as Exhibit 3.  
 “Guarantor” means
Venerable Holdings and any additional “Guarantor” under the Guarantee. 
 [***] 

“IMR” means an interest maintenance reserve. 

“IMR Amount” means (a) the Existing IMR Amount plus (b) the Transaction IMR Amount plus (c) the
Post-Closing Date IMR Amount. 
 “In-Force Percentage” means, as of any date of
determination, the number of in-force Reinsured Contracts as of such date divided by the number of in-force Reinsured Contracts as of the Effective Time. 

“Indemnitee” means a Ceding Company Indemnified Party or Reinsurer Indemnified Party, in each case, which is entitled to
indemnification under this Agreement. 
 “Independent Accounting Firm” has the meaning set forth in
Section 5.8(h). 
 “Independent Actuary” has the meaning set forth in
Section 5.8(h). 
 “Initial Premium” has the meaning set forth in
Section 3.1(a). 
 “Initial Required Balance” means the Required Balance as of the Closing Date.

 “Insolvency” has the meaning set forth in Section 5.7(a). 

“Insurance Regulator” means, with respect to any insurance or reinsurance company, the insurance regulator of the
jurisdiction of domicile of such insurance or reinsurance company. 
 “Interest Rate” means the sum of (a) one hundred
(100) basis points (expressed as a rate per annum) plus (b) the average of the daily “prime rate” (expressed as a rate per annum) published in The Wall Street Journal, for each of the days in the applicable period, but in
any event not less than zero (0). 
 [***] 

  
 - 9 - 

 “Investment Guidelines” means the Investment Guidelines set forth in
Schedule B. 
 “Law” means any United States or
non-United States federal, state or local statute, law, ordinance, regulation, code, Governmental Order or other requirement or rule of law. 

“Liabilities” means any and all debts, liabilities, commitments or obligations, whether direct or indirect, accrued or fixed,
known or unknown, absolute or contingent, matured or unmatured or determined or determinable, whether arising in the past, present or future. 

“Listed Instrument” means a derivative that is listed and trades on a regulated exchange. 

“Losses” means any and all damages, judgments, awards, liabilities, losses, Taxes, obligations, claims of any kind or nature,
fines and costs and expenses (including reasonable fees and expenses of attorneys, auditors, consultants and other agents) other than amounts constituting special or punitive damages, except to the extent that any such damages are recovered against
an Indemnitee pursuant to a third party claim. 
 “Master Transaction Agreement” has the meaning set forth in the Recitals.

 “Milliman CTE Model and Calculation Methodologies” means the principles, practices and methodologies set forth on
Schedule E-2. 
 “Milliman CTE61.1 Amount” means, as of
any date of determination, an amount equal to the arithmetic mean of the statutory carrying value of assets required as of such date to satisfy contractholder obligations (or the greatest present value of accumulated deficiencies) as defined in the VM-21 guidelines relating to the Reinsured Contracts (other than with respect to which periodic contract payments are being made as of the applicable date of determination) in the worst [***] of the 1,000 statutory
stochastic capital market scenarios determined in accordance with the Milliman CTE Model and Calculation Methodologies. 
 “Month-End Required Balance” has the meaning set forth in Section 5.8(a). 

“Month-End Required Balance Report” has the meaning set forth in
Section 5.8(a). 
 “Monthly Accounting Period” means each successive calendar month during the
term of this Agreement or any fraction thereof, beginning at the Effective Time and ending on the Recapture Date or the date this Agreement is otherwise terminated in accordance with Article VIII, as applicable. 

“Monthly Funding Date” means, in respect of each Month-End Required Balance Report
delivered by the Reinsurer to the Ceding Company in accordance with Section 5.8, the Business Day on which the Ceding Company receives such Month-End Required Balance Report. 

“Monthly Funding Limit” means (a) for the period commencing on the Closing Date and ending on December 31, 2021,
$19.8 million per month and (b) for each calendar year thereafter, the excess (if any) for the immediately preceding calendar year of (i) the average amount of monthly General Account Liabilities paid, over (ii) the average
amount of monthly Premium payments (other than Premiums allocated to the Separate Accounts) received under the Reinsured Contracts; provided, that, in each case, the Ceding Company may propose to the Reinsurer to increase the Monthly
Funding Limit for one or more months to accommodate reasonable seasonal experience or other factors, and the Reinsurer’s consent to any such proposal shall not be unreasonably withheld, delayed or conditioned. 

  
 - 10 - 

 “Monthly Net Settlement” has the meaning set forth in
Section 3.3(c). 
 “Monthly Settlement Statement” has the meaning set forth in
Section 3.3(c). 
 “Net Settlement” has the meaning set forth in
Section 3.3(c). 
 “Non-Guaranteed Elements” means the cost of insurance charges, credited interest rates, mortality and expense charges, administrative expense risk charges, lump sum payment options, policy loads and any other policy features
that are subject to change by the Ceding Company, and those items set forth in Actuarial Standard of Practice 2-Non-Guaranteed Charges or Benefits for Life Insurance
Policies and Annuity Contracts in effect as of the Effective Time and any successor rules for such Non-Guaranteed Elements as in effect from time to time. 

“Non-Public Personal Information” means any
non-public personally identifiable information concerning or relating to the Ceding Company’s past, current or prospective applicants, customers, clients, policy owners, contract holders, insureds,
claimants, and beneficiaries of Reinsured Contracts or other contracts issued by the Ceding Company, and its representatives, including (a) “non-public personal information” as that term is defined
in the Gramm-Leach-Bliley Act, as amended, and implementing regulations, 15 U.S.C. § 6809(4) or “protected health information” as defined in 45 C.F.R. § 160.103; and (b) “Personal Information” as defined
in the California Consumer Privacy Act of 2018 (Cal. Civ. Code Division 3, Part 4, Title 1.81.5); provided, that information that is otherwise publicly available shall not be considered “Non-Public
Personal Information”; and, provided, further, that “Non-Public Personal Information” does not include de-identified personal data,
(i.e., information that does not identify, or could not reasonably be associated with, an individual). 
 [***] 

“Parties” has the meaning set forth in the preamble. 

“Party” has the meaning set forth in the preamble. 

“Person” means any natural person, general or limited partnership, corporation, limited liability company, limited liability
partnership, firm, association or organization or other legal entity. 
 “Policy Loan Balance” means, with respect to any
date of determination, the amount of contract loans in respect of the Reinsured Contracts, as of such date, as would be reflected in Line 6, column 1 of the “Assets” section of the Ceding Company’s Statutory Financial Statement (or
the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2019), net of any unearned policy loan interest on such loans but including any due and accrued
interest thereon. 
 “Policyholder” means the holder of any Reinsured Contract. 

“Post-Closing Date IMR Amount” means the amount of IMR, calculated on an after-tax
basis, that is created following the Closing Date with respect to the assets supporting the Reinsured Contracts determined in accordance with SAP applicable to the Ceding Company. 

  
 - 11 - 

 [***] 

“Premium Taxes” means all taxes assessed in respect of the Premiums under the Reinsured Contracts by any Governmental
Authority. 
 “Premiums” means premiums, considerations, policy loan repayments, deposits and similar amounts collected by
or on behalf of the Ceding Company in respect of the Reinsured Contracts. 
 “Producer” means any broker, insurance
producer, agent, general agent, managing general agent, master broker agency, broker general agency, financial specialist or other Person, including any employee of Seller or its Affiliates, responsible for writing, marketing, producing, selling or
soliciting Reinsured Contracts. 
 “Quarterly Risk Management Report” has the meaning set forth in
Section 2.11(a). 
 “Quota Share” means one hundred percent (100%). 

“RBC Ratio” means, with respect to any U.S. domiciled insurance or reinsurance company, the percentage equal to (a) the
quotient of the Total Adjusted Capital of such insurance or reinsurance company divided by the Company Action Level RBC, multiplied by (b) 100; provided, that any calculation of the RBC Ratio (i) as of a calendar month-end other than the last day of a calendar year or (ii) as of the last day of a calendar year where such calculation is required to be provided within twenty (20) calendar days pursuant to the
definition of “Capital Reporting Deadline,” shall be based on such insurance company’s good faith estimate using, to the extent any factors are not reasonably available, amounts based on reasonable estimation and annualization. 

“Recapture Date” has the meaning set forth in Section 8.3(b). 

[***] 
 “Recapture
Notice” has the meaning set forth in [***]. 
 “Recapture Terminal Settlement” has the meaning set forth in
Section 8.4(b). 
 “Recapture Terminal Settlement Statement” has the meaning set forth in
Section 8.4(b). 
 “Recapture Transaction IMR Amount” means the amount of the IMR, calculated on
an after-tax basis, that is created on the date of payment of the Recapture Terminal Settlement, Termination Terminal Settlement or Terminated Contract Transfer Amount, as applicable, as a direct result of the
transfer of assets by the Reinsurer to the Ceding Company pursuant to Section 8.4(a) or (d), Section 8.6(a) or (d) or Section 2.7(c), as applicable,
determined in accordance with SAP applicable to the Ceding Company. 
 “Recapture Triggering Event” means any of the
following occurrences: 
 (a)    the RBC Ratio of the Reinsurer or any Affiliate Retrocessionaire that assumes Reinsured
Risks with respect to Reinsured Contracts that are in pre-payout status as of any calendar year-end is below [***]% and the Reinsurer or such Affiliate Retrocessionaire,
as applicable, has not cured such shortfall as of the applicable Capital Reporting Deadline; provided, that in the event that 

  
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such Affiliate Retrocessionaire is not a U.S. domiciled insurance company, the foregoing RBC Ratios shall refer to equivalent capital adequacy ratios determined under the laws of such Affiliate
Retrocessionaire’s jurisdiction of domicile as mutually agreed by the Parties; 
 (b)    the RBC Ratio of the
Reinsurer or any Affiliate Retrocessionaire that assumes Reinsured Risks with respect to Reinsured Contracts that are in pre-payout status is below [***]% for two consecutive calendar month-end dates, and the Reinsurer or such Affiliate Retrocessionaire, as applicable, has not cured such shortfall as of the applicable Capital Reporting Deadline; provided, that in the event that such
Affiliate Retrocessionaire is not a U.S. domiciled insurance company, the foregoing RBC Ratios shall refer to equivalent capital adequacy ratios determined under the laws of such Affiliate Retrocessionaire’s jurisdiction of domicile as mutually
agreed by the Parties; 
 (c)    the Adjusted Net Worth of all Guarantors in the aggregate is less than the product of
(i) $[***] and (ii) the In-Force Percentage; 
 (d)    there has been a
failure by the Reinsurer (i) to timely pay any undisputed Net Settlement amounts in accordance with Section 3.3(a) or Section 3.3(c) in an aggregate amount that, when added to the aggregate
amount that the Reinsurer has failed to fund in accordance with Sections 5.8(f)(i)(1) or 5.8(f)(ii)(1), as applicable, that has not been cured, exceeds $[***], and the Reinsurer’s failure to pay undisputed Net Settlements has not
been cured within [***] calendar days after written notice thereof from the Ceding Company; or (ii) to timely fund the Trust Account in accordance with Sections 5.8(f)(i)(1) or 5.8(f)(ii)(1), as applicable, in an aggregate amount
that, when added to the aggregate amount of undisputed amounts that the Reinsurer has failed to timely pay in accordance with Section 3.3(a) or Section 3.3(c) that has not been cured, exceeds
[***], and the Reinsurer’s failure to fund the Trust Account has not been cured within [***] Business Days, provided, that such [***] Business Day cure period shall only apply if (A) by 9:00 a.m. (New York time) on the Business Day
immediately following such breach, the Reinsurer provides to the Ceding Company a Daily Derivatives Report demonstrating the Reinsurer’s compliance with the Risk Management Policy as of the close of business on the day that is two Business Days
prior to such Business Day; (B) by 1:00 p.m. (New York time) on the Business Day immediately following such breach, the Reinsurer provides to the Ceding Company an attestation that the Reinsurer intends to fully fund the Trust Account by the
end of the cure period and (C) by 1:00 p.m. (New York time) on the Business Day immediately following such breach and on each subsequent Business Day during such cure period until such breach is cured, the Reinsurer provides to the Ceding
Company a Daily Derivatives Report demonstrating the Reinsurer’s compliance with the Risk Management Policy (as determined in accordance with Schedule P) as of the close of business on the immediately preceding Business Day; 

(e)    a Reserve Credit Event has occurred and the Reinsurer has not remedied such event in accordance with the timelines
in Article V; 
 (f)    the Reinsurer or a Guarantor has been placed into liquidation, rehabilitation,
conservation, supervision, receivership or similar proceedings (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in
bankruptcy, or other agent known by whatever name, to take possession of its assets or assume control of its operations; or 

(g)    the Reinsurer provides notice pursuant to Section 2.13 that it proposes to enter into a
Significant Transaction. 

  
 - 13 - 

 “Reference Statutory Reserves” has the meaning set forth in Schedule
M. 
 “Reinsured Contracts” means (a) those variable annuity contracts of the types described on Schedule C
and listed in the seriatim file set forth in Schedule D and are not in payout status as of the Effective Time, and (b) Discovered Contracts that have been reinsured pursuant to Section 2.7, in
each case of (a) and (b), including all binders, slips, certificates, applications therefor, supplements, endorsements, settlement options and riders thereto issued or entered into in connection with such contracts. 

“Reinsured Liabilities” means, collectively, the General Account Liabilities and the Separate Account Liabilities;
provided, that in no event shall “Reinsured Liabilities” include any Excluded Liabilities. 
 “Reinsured
Risks” has the meaning set forth in Section 2.1. 
 “Reinsurer” has the meaning set
forth in the preamble. 
 [***] 

“Reinsurer Domiciliary State” means the State of Delaware, or, if the Reinsurer changes its domiciliary state to another
state within the United States, such other state. 
 “Reinsurer Extra-Contractual Obligations” means all Extra-Contractual
Obligations that arise out of or relate to (a) any act, error or omission taken by the Ceding Company or any of its Affiliates at the written direction or request or with the written consent of the Reinsurer; or (b) any act, error or
omission taken by the Reinsurer or any of its Affiliates. 
 “Reinsurer Indemnified Parties” has the meaning set forth in
Section 9.2. 
 “Reinsurer Sensitivity Grid” has the meaning set forth in
Schedule F-1. 
 “Reinsurer Statutory Reserves” means, as
of any date of determination, the aggregate statutory reserve (including unearned premium reserves and other premium accruals) amount for the General Account Liabilities calculated under the Reinsurer Domiciliary State SAP that would be applicable
to the Reinsurer (as would be reflected on Line 1, column 1 of the Liabilities section and Exhibit 5 and Line 3, column 1 of the Liabilities section and Exhibit 7 of the Reinsurer’s Statutory Financial Statement (or the equivalent exhibits or
lines in the event of changes to the Reinsurer’s Statutory Financial Statement subsequent to December 31, 2019)), as calculated as of such date (without giving effect to any retrocession by the Reinsurer of any Reinsured Risks). 

“Representative” of a Person means the directors, officers, employees, advisors, agents, stockholders or other equity holders
or investors, consultants, independent accountants, investment bankers, counsel or other representatives of such Person and of such Person’s Affiliates. 

“Required Balance” means [***] 

“Regulation 114 Assets” has the meaning set forth in Section 5.4. 

  
 - 14 - 

 “Required Balance Model and Calculation Methodologies” means the
principles, practices and methodologies set forth on Schedule E-1. 

“Reserve Credit” means full statutory financial statement credit for the reinsurance ceded to the Reinsurer under this
Agreement in the Ceding Company’s Statutory Financial Statements required to be filed by the Ceding Company with the Governmental Authority charged with supervision of insurance companies in the Ceding Company Domiciliary State. 

“Reserve Credit Event” means any event that would cause the Ceding Company to not be permitted to receive Reserve Credit in
the Ceding Company Domiciliary State. 
 “Reserve Credit Triggering Event” means that a Reserve Credit Event has occurred
and is continuing as of the third (3rd) Business Day prior to the end of the calendar quarter during which such Reserve Credit Event occurred. 

“Restricted Asset” has the meaning set forth in the Trust Agreement. 

“Restricted Asset Exceptions” has the meaning set forth in the Trust Agreement. 

“Retrocessionaire” means any Person to whom the Reinsurer retrocedes the Reinsured Risks. 

“Risk Management Policy” has the meaning set forth in Section 2.11(a). 

“SAP” means, with respect to either Party, the statutory accounting principles prescribed or permitted by the Insurance
Regulator for the jurisdiction in which such insurance company is domiciled consistently applied. 
 “Security Funding
Date” means any [***] or Monthly Funding Date, as applicable. 
 “Separate Account Charges” has the meaning set
forth in Section 3.2(b). 
 “Separate Account Liabilities” has the meaning set forth in
Section 2.10. 
 “Separate Account Reserves” means, as of any date of determination, the
aggregate amount of statutory reserves of the Ceding Company with respect to the Separate Account Liabilities (as would be described in Line 1, column 1 of the Liabilities section and Exhibit 3 of the Statutory Financial Statements related to
separate accounts of the Ceding Company (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2019)), calculated in accordance with the Ceding Company
Domiciliary State SAP. 
 “Separate Accounts” means the registered and unregistered separate accounts of the Ceding Company
applicable to the Reinsured Contracts identified in Schedule J. 
 “Significant Transaction” has
the meaning set forth in Section 2.13. 
 “Statutory Book Value” means, with respect to any asset
held in the Trust Account, the amount permitted to be carried by the Reinsurer as an admitted asset consistent with SAP applicable to the Ceding Company, consistently applied. 

  
 - 15 - 

 “Statutory Financial Statements” means, with respect to any Person, the
annual and quarterly statutory financial statements of such Person filed with the Governmental Authority charged with supervision of such Person. 

“Subsidiary” of any Person means any corporation, general or limited partnership, joint venture, limited liability company,
limited liability partnership or other Person that is a legal entity, trust or estate of which (or in which) at the time of determination (a) the issued and outstanding Capital Stock having ordinary voting power to elect a majority of the board
of directors (or a majority of another body performing similar functions) of such corporation or other Person (irrespective of whether at the time Capital Stock of any other class or classes of such corporation or other Person shall or might have
voting power upon the occurrence of any contingency), (b) more than fifty percent (50%) of the interest in the capital or profits of such partnership, joint venture or limited liability company or (c) more than fifty percent (50%) of the
beneficial interest in such trust or estate, is directly or indirectly owned by such Person. 
 “Tax” or
“Taxes” has the meaning specified in the Master Transaction Agreement. 
 “Terminated Contract” has the
meaning specified in Section 2.7(c). 
 “Terminated Contract Transfer Amount” means, with respect
to each Terminated Contract transferred pursuant to Section 2.7(c), the sum of the following amounts to the extent related to such Terminated Contract: (a) an amount equal to the difference between (i) the Quota
Share of the Milliman CTE61.1 Amount in respect of the Reinsured Risks, inclusive of the Terminated Contract, minus (ii) the Quota Share of the Milliman CTE61.1 Amount in respect of the Reinsured Risks, excluding such Terminated
Contract, in the case of each of (i) and (ii), determined as of the date such Terminated Contract is identified and in accordance with the Milliman CTE Model and Calculation Methodologies that were used to calculate the Milliman CTE61.1 Amount
transferred at the Effective Time; plus (b) solely to the extent the IMR Amount with respect to such Terminated Contract may, in the Reinsurer’s reasonable judgment, be released on the Reinsurer’s statutory financial statements
due to such Terminated Contract ceasing to be a Reinsured Contract, the Quota Share of the Unamortized IMR Amount determined solely in respect of such Terminated Contract as of the date such Terminated Contract was identified, divided by the
Applicable Tax Gross-Up Percentage; plus (c) solely to extent that the IMR Amount with respect to such Terminated Contract can, in the Reinsurer’s reasonable judgment, be released on the
Reinsurer’s statutory financial statements and such IMR Amount is required to be established on the Ceding Company’s statutory financial statements, the Recapture Transaction IMR Amount determined solely in respect of such Terminated
Contract, if any, as of the date the applicable Terminated Contract Transfer Amount was paid, divided by the Applicable Tax Gross-Up Percentage; plus (d) the Quota Share of the Additional Consideration
actually received by the Reinsurer in respect of such Terminated Contract from and after the Effective Time; minus (e) the Quota Share of the General Account Liabilities actually paid by the Reinsurer in respect of such Terminated
Contract from and after the Effective Time; minus (f) the Expense Allowance for such Terminated Contract from and after the Effective Time, in the case of (d), (e) and (f) until the date the Terminated Contract Transfer Amount
is paid to the Ceding Company. 
 “Termination Date” has the meaning set forth in Section 8.5(b).

 “Termination Terminal Settlement” has the meaning set forth in Section 8.6(b). 

  
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 “Termination Terminal Settlement Statement” has the meaning set forth in
Section 8.6(b). 
 “Termination Triggering Event” means there has been a failure by the Ceding
Company to pay any undisputed Net Settlement amounts in accordance with Section 3.3(a) or Section 3.3(c) in an aggregate amount in excess of [***], and such breach has not been cured within ten
(10) calendar days after notice thereof from the Reinsurer. 
 “Total Adjusted Capital” means, with respect to any
U.S. domiciled insurance company, total adjusted capital as calculated in accordance with the applicable Laws of such insurance company’s domiciliary state. 

“Transaction Agreements” means, collectively, this Agreement, the Master Transaction Agreement, the Trust Agreement and the
Guarantee. 
 [***] 

“Transaction IMR Amount” means the amount of the IMR, calculated on an after-tax
basis, that is created on the Closing Date as a direct result of the transfer of assets by the Ceding Company to the Reinsurer pursuant to Section 3.1(a), determined in accordance with SAP applicable to the Ceding Company.

 “Transferred Assets” has the meaning set forth in the Master Transaction Agreement. 

“Trust Account” means the trust account established by the Reinsurer for the benefit of the Ceding Company under the Trust
Agreement. 
 “Trust Adjustment Threshold” has the meaning set forth in Section 5.8(f)(i)(1).

 “Trust Agreement” means that certain Trust Agreement dated as of the date hereof by and among the Reinsurer, the Ceding
Company and the Trustee, substantially in the form attached as Exhibit 2. 
 “Trustee” means the
trustee under the Trust Agreement. 
 “Unamortized IMR Amount” means, with respect to any date of determination, an amount
equal to the portion of the IMR Amount which remains unamortized as of such date, determined in accordance with SAP applicable to the Ceding Company. 

“Uncollected/Deferred Premiums” means, as of any date of determination, the sum of (i) uncollected premiums in the
course of collection in respect of the Reinsured Contracts, as of such date, as would be reflected in Line 15.1, column 1 in the “Assets” section of the Ceding Company’s Statutory Financial Statement (or the equivalent exhibits or
lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2019), plus (ii) deferred premiums booked but deferred and not yet due in respect of the Reinsured Contracts, as of
such date, as would be reflected in Line 15.2, column 1 in the “Assets” section of the Ceding Company’s Statutory Financial Statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory
Financial Statement subsequent to December 31, 2019). 
 “VA Capital” has the meaning set forth in the Recitals. 

  
 - 17 - 

 “Valuation Date” has the meaning set forth in
Section 5.8(d). 
 “Venerable Holdings” has the meaning set forth in the Recitals. 

“Weekly Accounting Period” means each successive calendar week during the term of this Agreement or any fraction thereof,
beginning at the Effective Time and ending on the Recapture Date or the date this Agreement is otherwise terminated in accordance with Article VIII, as applicable. 

“Weekly Net Settlement” has the meaning set forth in Section 3.3(a). 

“Weekly Settlement Statement” has the meaning set forth in Section 3.3(a). 

ARTICLE II. 
 BASIS OF
REINSURANCE AND BUSINESS REINSURED 
 Section 2.1.    Coverage. Upon the
terms and subject to the conditions and other provisions of this Agreement, as of the Effective Time, the Ceding Company hereby cedes to the Reinsurer, and the Reinsurer hereby agrees to reinsure and indemnify the Ceding Company (a) on a
coinsurance basis for the Quota Share of the General Account Liabilities and (b) on a modified coinsurance basis for the Quota Share of the Separate Account Liabilities, in each case, that have not been paid by the Ceding Company prior to the
Effective Time (collectively, the “Reinsured Risks”). The reinsurance effective under this Agreement shall be maintained in force, without reduction, unless such reinsurance is terminated or recaptured as provided herein. 

Section 2.2.    Insurance Contract Changes. Except (a) as directed or
agreed by the Reinsurer in advance in writing, (b) for any changes initiated by the applicable Policyholder of any Reinsured Contract pursuant to the terms of such Reinsured Contract or (c) for any changes mandated by any Governmental
Authority or applicable Law, the Ceding Company shall not change the terms of any Reinsured Contract. This Section 2.2 shall not apply to any changes to Non-Guaranteed Elements, which
shall be governed exclusively by Section 2.8. 

Section 2.3.    Liability. Subject to the terms and conditions of this
Agreement, the Reinsurer’s liability under this Agreement shall attach as of the Effective Time and the Reinsurer’s Liability under this Agreement shall be subject in all respects to the same terms, rates and conditions as the Ceding
Company, and, to the same modifications, alterations and cancellations of the Reinsured Contracts as the Ceding Company, the true intent of this Agreement being that the Reinsurer shall, subject to the terms and conditions of this Agreement, follow
the fortunes of the Ceding Company with respect to the Reinsured Liabilities. 

Section 2.4.    Indemnity Reinsurance. This Agreement is an indemnity
coinsurance agreement solely between the Ceding Company and the Reinsurer, and the performance of the obligations of each Party under this Agreement shall be rendered solely to the other Party. The Ceding Company shall be and shall remain the only
Party hereunder that is liable to any insured, Policyholder, claimant or beneficiary under any policy reinsured hereunder. 

Section 2.5.    Territory. The territorial limits of this Agreement shall
be identical with those of the Reinsured Contracts. 

  
 - 18 - 

Section 2.6.    Reinstatements. If any Reinsured Contract that has lapsed is
subsequently reinstated prior to the termination of this Agreement, the reinsurance for such Reinsured Contract under this Agreement shall be reinstated automatically. The Ceding Company shall pay the Reinsurer the Quota Share of all amounts
received by the Ceding Company in connection with the reinstatement of such Reinsured Contract. 

Section 2.7.    Discovered In-Force
Policies and Lapsed Policies. 
 (a)    Subject to Section 2.7(b), if during the first
six (6) months following the Closing Date either the Ceding Company or the Reinsurer discovers one or more policies, contracts or other evidences of insurance of the type described on Schedule C as being included as a
Reinsured Contract but was not included as a Reinsured Contract on Schedule D (a “Discovered Contract”), such Party shall promptly notify the other Party in writing of the existence of such Discovered
Contract(s). If the aggregate number of Discovered Contracts (by policy count) identified during such six (6) month period following the Closing Date is less than [***] of the aggregate number of Reinsured Contracts (by policy count) ceded as
of the Effective Time, then each Discovered Contract identified during such six (6) month period shall be reinsured under this Agreement as a Reinsured Contract as described in this Section 2.7(a). The Ceding Company
shall calculate, and the Parties shall mutually agree upon, the Discovered Contract Transfer Amount for all Discovered Contracts to be reinsured. The effective date with respect to the transfer of any Discovered Contract pursuant to this
Section 2.7(a) shall be the Discovered Contract Transfer Time. With respect to any Discovered Contracts ceded pursuant to this Section 2.7(a), the Ceding Company shall transfer to the Trust Account
cash and/or other Eligible Assets having a Fair Market Value equal to such Discovered Contract Transfer Amount within five (5) Business Days of the Discovered Contract Transfer Time. 

(b)    If (i) the Ceding Company or the Reinsurer discovers any Discovered Contracts at any time on or after the day
that is six (6) months after the Closing Date, or (ii) the aggregate number (by policy count) of Discovered Contracts identified by the Ceding Company during the six (6) month period following the Closing Date is greater than [***] of
the aggregate number (by policy count) of Reinsured Contracts ceded as of the Effective Time, then, in each case, the Reinsurer shall have the option, in its sole discretion, to determine whether to reinsure any such Discovered Contracts. In the
event Reinsurer elects such option, the Parties will use reasonable best efforts and reasonably cooperate to develop and implement an agreement to transfer the Discovered Contracts, including with respect to the amounts and assets to be transferred.

 (c)    If, at any time following the Closing Date, either the Ceding Company or the Reinsurer finds that a policy
listed on Schedule D had terminated prior to the Effective Time (a “Terminated Contract”), such Party shall promptly notify the other Party in writing of the existence of such Terminated Contract. Any
Terminated Contract discovered during such period shall be deemed to be removed from Schedule D. The Ceding Company shall calculate, and the Parties shall mutually agree upon, the Terminated Contract Transfer Amount for
such Terminated Contract. The Reinsurer shall transfer to the Ceding Company cash and/or other Eligible Assets having a Fair Market Value equal to such Terminated Contract Transfer Amount within five (5) Business Days after the calculation
thereof. The effective date with respect to the transfer of any Terminated Contract pursuant to this Section 2.7(c) shall be the date assets in the relevant amount in respect thereof are transferred to the receiving Party.

  
 - 19 - 

 Section 2.8.    Non-Guaranteed Elements. From and after the Closing Date, the Reinsurer may, from time to time, make recommendations to the Ceding Company with respect to
Non-Guaranteed Elements so long as the recommendations comply with the written terms of the Reinsured Contracts, applicable Law and Actuarial Standards of Practice promulgated by the Actuarial Standard Board
governing redetermination of non-guaranteed charges. The Ceding Company shall fully consider any such recommendations and act reasonably and in good faith in determining whether any such recommendations should
be accepted and shall not unreasonably delay implementation of any accepted recommendations. The Ceding Company shall (a) consult with the Reinsurer periodically on the setting of Non-Guaranteed Elements
prior to making any material changes thereto and (b) other than as set forth in this Section 2.8, set Non-Guaranteed Elements in a manner consistent in all material respects with
the manner in which the Ceding Company sets non-guaranteed elements with respect to its variable annuity contracts that are not reinsured to the Reinsurer or any other third party. 

Section 2.9.    Retrocession. 

(a)    The Reinsurer may retrocede the Reinsured Risks with respect to Reinsured Contracts that are not in payout status
to (i) U.S. domiciled insurance companies that are Affiliated with the Reinsurer with an RBC Ratio of [***]% or higher at the time of such retrocession and (ii) insurance companies that are not domiciled in the U.S. or are not Affiliated
with the Reinsurer only with the prior written consent of the Ceding Company (such consent not to be unreasonably withheld, conditioned or delayed, it being agreed and acknowledged by the Parties that it would not be unreasonable for the Ceding
Company to withhold its consent to any retrocession if the Retrocessionaire has not agreed to include in its retrocession agreement with the Reinsurer all of the provisions in Section 2.11(b) as if such Retrocessionaire was
an Affiliate Retrocessionaire); provided, that, with respect to any retrocession contemplated in clause (i) or (ii), the Reinsurer shall retain net for its own account (and not reinsured or retroceded) at least ten percent (10%) of the
Reinsurer Statutory Reserves. The Reinsurer shall cause any Retrocessionaire with respect to Reinsured Contracts that are not in payout status to agree to all of the foregoing restrictions in this Section 2.9(a) and shall
use its reasonable best efforts to enforce such provisions. Notwithstanding anything in this Agreement to the contrary, without the prior written consent of the New York State Department of Financial Services, the Reinsurer shall not retrocede any
of the Reinsured Risks to a captive reinsurer. 
 (b)    The Reinsurer may retrocede the Reinsured Risks with respect to
Reinsured Contracts that are in payout status to any insurance company with (i) both (A) an RBC Ratio of [***]% or higher at the time of such retrocession and (B) a financial strength rating of at least [***] (or the equivalent thereof) as
assigned by any nationally recognized statistical rating organization at the time of such retrocession or (iii) the prior written consent of the Ceding Company (such consent not to be unreasonably withheld, conditioned or delayed). The
Reinsurer shall cause any Retrocessionaire with respect to Reinsured Contracts that are in payout status to agree to the foregoing restrictions in this Section 2.9(b) and shall use its reasonable best efforts to enforce
such provisions. 
 (c)    Except as set forth in this Section 2.9, the Reinsurer may not
retrocede or otherwise transfer all or any portion of the Reinsured Risks. For the avoidance of doubt, no retrocession by the Reinsurer of any Reinsured Risks shall relieve the Reinsurer of any of its obligations under this Agreement or the Trust
Agreement. 
 (d)    For Retrocessionaires that are not domiciled in the U.S., the RBC Ratio requirements in this
Section 2.9 shall refer to equivalent capital adequacy ratios determined under the laws of such Retrocessionaire’s jurisdiction of domicile as mutually agreed by the Parties prior to any such retrocession. 

  
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 Section 2.10.    Separate
Accounts. Notwithstanding anything contained in this Agreement to the contrary, for each of the Reinsured Contracts that relate to the Separate Account Liabilities, the amount invested on a variable basis in accordance with the terms of such
Reinsured Contracts shall be held by the Ceding Company in the Separate Accounts, and Premiums with respect to such Reinsured Contracts shall be deposited in the Separate Accounts to the extent required to be deposited therein by the terms of such
Reinsured Contracts. From and after the Closing Date, the Ceding Company shall retain and own all assets contained in the Separate Accounts and shall hold the Separate Account Reserves with respect to the Reinsured Contracts that are funded, in
whole or in part, by one or more of the Separate Accounts and such Separate Account Reserves shall be reported by the Ceding Company on its Separate Account balance sheets, consistent with the Ceding Company Domiciliary State SAP. For each Reinsured
Contract that relates to the Separate Account Liabilities, the Reinsurer shall deposit, shall cause to be deposited, or shall transfer to the Ceding Company for deposit any additional amounts required to be deposited into the Separate Accounts after
the Closing Date pursuant to the terms of the applicable Reinsured Contract, in each case, except to the extent that such amounts have been previously paid (or provided for) pursuant to the Net Settlement, and all amounts to be paid with respect to
surrenders, annuitization payments, death benefits, compensation or any other amounts with respect to such Reinsured Contracts that by the terms of such Reinsured Contracts contemplate payment from the Separate Accounts (the “Separate
Account Liabilities”) shall be paid out of the Separate Accounts to the extent so contemplated. For the avoidance of doubt, Separate Account Liabilities exclude any Excluded Liabilities. As of the Closing Date, the Parties will record on
their respective books and records an initial modco reserve adjustment to the extent necessary to reflect the cession of the Separate Account Liabilities hereunder on a modified coinsurance basis. 

Section 2.11.    Risk Management. 

(a)    During the term of this Agreement, the Reinsurer shall implement a risk management policy consistent with the
principles agreed by the Parties and set forth on Schedule G-1 (the “Risk Management Policy”). Following the Closing Date, the Reinsurer shall have the right to make
changes to the Risk Management Policy; provided, that, without the Ceding Company’s prior written consent, such changes may not, individually or in the aggregate, reduce in any material respect the protections afforded to the Ceding
Company by the Risk Management Policy in effect as of the Closing Date (it being agreed and acknowledged by the Parties that any changes to Section 1 of Schedule G-1 (titled Specific Risk Controls Added
in Respect of the Agreement), including any of the shock scenarios or the modeling methodology with which the shock scenarios are run, would materially reduce the protections afforded to the Ceding Company by the Risk Management Plan);
provided, further, that the Ceding Company’s consent shall not be required for changes to the Risk Management Policy during any period in which the aggregate Benefit Base under all in-force
Reinsured Contracts is less than $[***]. No later than thirty (30) calendar days after the end of each calendar quarter, the Reinsurer shall provide to the Ceding Company a report (a “Quarterly Risk Management Report”) that
(i) demonstrates to the reasonable satisfaction of the Ceding Company the effectiveness of the Reinsurer’s Risk Management Policy (A) during the preceding calendar quarter and (B) with respect to the occurrence of the capital
markets and interest rate scenarios set forth in Schedule G-1 assuming the occurrence of such scenarios during the calendar quarter in which the report is provided and
(ii) includes a certification from the Reinsurer that (A) the Reinsurer is in 

  
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compliance in all material respects with its then-current Risk Management Policy and (B) such Risk Management Policy provides in all material respects the same protections afforded to the
Ceding Company by the Risk Management Policy in effect as of the Closing Date. In addition, the Reinsurer shall provide written notice to the Ceding Company at any time that the Reinsurer fails to comply in any material respect with its Risk
Management Policy within two (2) Business Days after it becomes aware of such failure. The Reinsurer shall cooperate fully with the Ceding Company and promptly respond to the Ceding Company’s reasonable inquiries from time to time
concerning the Reinsurer’s Risk Management Policy or any Quarterly Risk Management Report. 
 (b)    The Reinsurer
shall cause each retrocession agreement pursuant to which the Reinsurer retrocedes any Reinsured Risks with respect to Reinsured Contracts that are in pre-payout status to a U.S. domiciled Affiliate
Retrocessionaire to include provisions (i) that require such Affiliate Retrocessionaire to comply with the then-current Risk Management Policy with respect to the Reinsured Risks reinsured by such Affiliate Retrocessionaire; (ii) deliver
to the Ceding Company (A) Quarterly Risk Management Reports with respect to such Affiliate Retrocessionaire’s derivatives portfolio and (B) written notices of non-compliance by the Affiliate
Retrocessionaire with the then-current Risk Management Policy, in each case of (A) and (B), in accordance with the requirements in Section 2.11(a) and (iii) give the Ceding Company third-party beneficiary rights
under the retrocession agreement to enforce any breach by such Affiliate Retrocessionaire of the provisions in clauses (i) and (ii) above. 

Section 2.12.    [***] 

Section 2.13.    Significant Transactions. The Reinsurer shall give written
notice to the Ceding Company at least thirty (30) calendar days prior to entering into any [***] (a “Significant Transaction”), provided that the Reinsurer shall have no obligation to provide the identity of the counterparty or
any other details regarding any Significant Transaction. In accordance with Article VIII, the Ceding Company shall have the right (but not the obligation) to recapture all, and not less than all, of the Reinsured Risks with effect prior to
the consummation of any Significant Transaction. 
 Section 2.14.    Restrictions
on Redomestication. From and after the date hereof, Reinsurer shall not redomesticate to any jurisdiction, including Iowa, whereby due to Law the first priority and exclusive lien in favor of the Ceding Company pursuant to the Trust
Agreement is, or would reasonably be expected to be, adversely affected. 
 ARTICLE III. 

PAYMENTS; ADDITIONAL CONSIDERATION 

Section 3.1.    Initial Reinsurance Premium. 

(a)    As initial consideration for the Reinsurer entering into this Agreement (the “Initial Premium”),
the Reinsurer shall be entitled to cash and/or Eligible Assets having an aggregate Fair Market Value as of the Effective Time equal to the sum of: 
  

	 	(i)	 the Quota Share of the Milliman CTE61.1 Amount as of the Effective Time; plus 

  
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	 	(ii)	 the Quota Share of the Existing IMR Amount as of the Effective Time, divided by, the Applicable Tax Gross-up Percentage, plus 

  

	 	(iii)	 the Transaction IMR Amount as of the Effective Time, divided by the Applicable Tax Gross-up Percentage, minus 

  

	 	(iv)	 the Policy Loan Balance as of the Effective Time, minus 

 

	 	(v)	 the amount of Uncollected/Deferred Premiums as of the Effective Time. 

(b)    On the Closing Date, the Ceding Company shall transfer to the Trust Account, on behalf of the Reinsurer, the
Transferred Assets in an amount equal to the Estimated Initial Premium pursuant to Section 2.03 of the Master Transaction Agreement and as set forth in the Estimated Closing Statement delivered thereunder. To the extent required pursuant to
Section 5.2(b), the Reinsurer shall deposit additional Eligible Assets into the Trust Account on the Closing Date. Each of the Initial Premium, Transferred Assets and Initial Required Balance will be determined, adjusted,
settled and paid in accordance with Article II of the Master Transaction Agreement. 
 (c)    The Ceding Company
and the Reinsurer agree that the Existing IMR Amount and the Transaction IMR Amount shall be calculated by the Ceding Company and ceded to and held by the Reinsurer and the Ceding Company shall have no obligation to maintain any net IMR relating to
any Existing IMR Amount, Transaction IMR Amount or any other IMR Amount. 

Section 3.2.    Additional Consideration. As additional consideration for
the Reinsurer entering into this Agreement, the Reinsurer shall be entitled to the Quota Share of the following amounts received at or after the Effective Time by the Ceding Company (the “Additional Consideration”): 

(a)    Premiums; 

(b)    (i) mortality and expense risk charges, administrative expense charges, rider charges, contract maintenance
charges, back-end sales loads and other considerations billed separately for the Reinsured Contracts collected or collectible by the Ceding Company, and any other charges, fees, and similar amounts received or
receivable by the Ceding Company from the Separate Accounts with respect to the Reinsured Contracts, (ii) all revenue sharing fees, service fees, distribution fees and other amounts received by the Ceding Company or any of its Affiliates from
or in respect of any mutual fund organization’s mutual funds as funding vehicles to the extent attributable to the Reinsured Contracts, including amounts received pursuant to a plan adopted pursuant to Rule
12b-1 under the Investment Company Act of 1940, as amended, and (iii) all other amounts received by the Ceding Company with respect to the Reinsured Contracts (other than with respect to Excluded
Liabilities) (collectively, the “Separate Account Charges”); and 
 (c)    all amounts that are
transferrable from the Separate Accounts to the general account of the Ceding Company in respect of the Reinsured Contracts. 

Section 3.3.    Net Settlement. 

(a)    During the term of this Agreement, a settlement amount between the Ceding Company and the Reinsurer as of the last
day of each Weekly Accounting Period (the “Weekly Net  

  
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Settlement”) shall be calculated by the Ceding Company, and a statement setting forth details of such calculation (the “Weekly Settlement Statement”) in the form as
set forth as Exhibit 1 shall be delivered by the Ceding Company to the Reinsurer within four (4) Business Days following the end of such Weekly Accounting Period. If the amount of the Weekly Net Settlement for such Weekly Accounting
Period is positive, the Ceding Company shall pay such amount in cash to the Reinsurer within six (6) Business Days following the end of such Weekly Accounting Period. If the amount of the Weekly Net Settlement for such Weekly Accounting Period
is negative, the Reinsurer shall pay the absolute value of such amount in cash to the Ceding Company within six (6) Business Days following the end of such Weekly Accounting Period. 

(b)    The Weekly Net Settlement with respect to each Weekly Accounting Period shall be an amount equal to the following:

  

	 	(i)	 the Quota Share of the Additional Consideration received by the Ceding Company during such Weekly Accounting
Period; minus 

  

	 	(ii)	 the Quota Share of the Reinsured Liabilities (other than with respect to surrender payments, death benefits,
and other Reinsured Liabilities that will be settled on a monthly or quarterly basis in accordance with Exhibit 1) paid by the Ceding Company during such Weekly Accounting Period; plus 

 

	 	(iii)	 the Quota Share of the Reinsured Liabilities (other than with respect to surrender payments, death benefits,
and other Reinsured Liabilities that will be settled on a monthly or quarterly basis in accordance with Exhibit 1) paid by the Ceding Company with assets in the Designated Administrative Account during such Weekly Accounting Period.

 (c)    During the term of this Agreement, a settlement amount between the Ceding Company and the
Reinsurer as of the last day of each Monthly Accounting Period (the “Monthly Net Settlement” and together with the Weekly Net Settlement, a “Net Settlement”) shall be calculated by the Ceding Company, and a
statement setting forth details of such calculation (the “Monthly Settlement Statement”) in the form as set forth as Exhibit 1 shall be delivered by the Ceding Company to the Reinsurer (i) in preliminary form, no later
than five (5) Business Days following the end of such Monthly Accounting Period, and (ii) in final form, no later than ten (10) Business Days following the end of such Monthly Accounting Period, provided, that the Ceding Company shall
strive to deliver the Monthly Settlement Statement in final form on the eighth (8th) Business Day following the end of such Monthly Accounting Period. If the amount of the Monthly Net Settlement for such Monthly Accounting Period is positive, the
Ceding Company shall pay such amount in cash to the Reinsurer within five (5) Business Days of its delivery of the final Monthly Settlement Statement for such period to the Reinsurer. If the amount of the Monthly Net Settlement for such Monthly
Accounting Period is negative, the Reinsurer shall pay the absolute value of such amount in cash to the Ceding Company within five (5) Business Days of its receipt of the final Monthly Settlement Statement for such period. 

(d)    The Monthly Net Settlement with respect to each Monthly Accounting Period shall be an amount equal to the
following: 
  

	 	(i)	 the Quota Share of the Additional Consideration received by the Ceding Company during such Monthly Accounting
Period; minus 

  
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	 	(ii)	 the Quota Share of the Reinsured Liabilities paid by the Ceding Company during such Monthly Accounting Period;
plus 

  

	 	(iii)	 the Quota Share of the Reinsured Liabilities paid by the Ceding Company with assets in the Designated
Administrative Account during such Monthly Accounting Period; minus 

  

	 	(iv)	 the Expense Allowances for such Monthly Accounting Period, minus 

 

	 	(v)	 the aggregate Weekly Net Settlements paid during such Monthly Accounting Period. 

Section 3.4.    Delayed Payments. If there is a delayed settlement of any
payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.4, a payment will be considered overdue, and such interest will begin to
accrue, on the first day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision. 

Section 3.5.    Defenses. The Reinsurer accepts, reinsures and
assumes the Reinsured Risks subject to any and all defenses, set-offs and counterclaims to which the Ceding Company would be entitled with respect to the Reinsured Risks, it being expressly understood and
agreed to by the Parties hereto that no such defenses, set-offs, or counterclaims are or shall be waived by the execution and delivery of this Agreement or the consummation of the transactions contemplated
hereby and that the Reinsurer is and shall be fully subrogated in and to all such defenses, set-offs and counterclaims. 

Section 3.6.    Offset. Except as otherwise provided under applicable Law,
any undisputed debits or credits incurred between the Parties on and after the Effective Time in favor of or against either the Ceding Company or the Reinsurer with respect to this Agreement are deemed mutual debits or credits, as the case may be,
and shall be set off or recouped, and only the net balance shall be allowed or paid. In the event of any liquidation, insolvency, rehabilitation, conservatorship or comparable proceeding by or against the Ceding Company or the Reinsurer, the rights
of offset and recoupment set forth in this Section 3.6 shall apply to the fullest extent permitted by applicable Law. 

Section 3.7.    Premium Taxes. For each Monthly Accounting Period, the
Parties shall cooperate and provide the other with information regarding Allocated Premium Taxes which is reasonably necessary to calculate the Monthly Net Settlement. 

Section 3.8.    Reports from the Reinsurer. 

(a)    Each calendar month, the Reinsurer shall provide to the Ceding Company, by the relevant Capital Reporting Deadline,
a calculation of the RBC Ratio of the Reinsurer as of the last day of the immediately preceding calendar month, (x) with respect to months other than the last month of a calendar year, based on the Reinsurer’s good faith estimate using, to
the extent any factors are not reasonably available, amounts based on reasonable estimation and annualization and (y) with respect to the last month of a calendar year, as calculated by the Reinsurer. In addition, if the RBC Ratio of the
Reinsurer as of any calendar month-end is below the amount described in clause (a) or clause (b), as applicable, of the definition of “FMV Triggering Event” herein and has been cured, the
Reinsurer shall provide to the Ceding Company evidence that such shortfall has been cured by the applicable Capital Reporting Deadline. Each such calculation shall include reasonable supporting detail with respect to such calculation. 

  
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 (b)    Each calendar month, the Reinsurer shall cause each Affiliate
Retrocessionaire to provide to the Ceding Company, by the relevant Capital Reporting Deadline, a calculation of the RBC Ratio of such Affiliate Retrocessionaire (or equivalent capital adequacy ratio of such Affiliate Retrocessionaire as mutually
agreed by the Parties) as of the last day of the immediately preceding calendar month, (x) with respect to months other than the last month of a calendar year, based on the Affiliate Retrocessionaire’s good faith estimate using, to the
extent any factors are not reasonably available, amounts based on reasonable estimation and annualization and (y) with respect to the last month of a calendar year, as calculated by the Affiliate Retrocessionaire. In addition, if the RBC Ratio
of any Affiliate Retrocessionaire as of any calendar month-end is below the amount described in clause (a) or clause (b), as applicable, of the definition of “FMV Triggering Event” herein and
has been cured, the Reinsurer shall provide to the Ceding Company evidence that such shortfall has been cured by the applicable Capital Reporting Deadline. Each such calculation shall include reasonable supporting detail with respect to such
calculation. 
 (c)    The Reinsurer shall provide written notice to the Ceding Company of the occurrence of any FMV
Triggering Event or Recapture Triggering Event within two (2) Business Days after it becomes aware of such occurrence. In addition, the Reinsurer shall cooperate fully with the Ceding Company and promptly respond to the Ceding Company’s
reasonable inquiries from time to time concerning the determination of whether a FMV Triggering Event or Recapture Triggering Event has occurred or is likely to occur. 

(d)    At the Ceding Company’s request, the Reinsurer shall provide to the Ceding Company (i) a copy of the
Reinsurer’s annual and quarterly Statutory Financial Statement and a copy of its annual audited Statutory Financial Statements, along with the audit report thereon and (ii) for each Affiliate Retrocessionaire to which the Reinsurer
retrocedes any portion of the Reinsured Risks, a copy of the annual and quarterly Statutory Financial Statements and a copy of the annual audited Statutory Financial Statements of such Affiliate Retrocessionaires, along with the audit report thereon
(or comparable financial statements if the Affiliate Retrocessionaire is a non-U.S. insurer). 

(e)    At the Ceding Company’s reasonable request, the Reinsurer shall meet with the Ceding Company and its
Representatives upon reasonable notice and during business hours and for a reasonable period of time (but no more than once per calendar quarter in the absence of the continuation of a FMV Triggering Event), and, subject to applicable Law, will
provide to the Ceding Company additional financial and operational materials, as well as access to the Reinsurer’s senior financial officers, provided such access shall not unreasonably interfere with the conduct of the business of the
Reinsurer, designed to provide to the Ceding Company a comprehensive perspective on (i) the Reinsurer’s or any Affiliate Retrocessionaire’s then-current financial condition and continuing creditworthiness, (ii) the
Reinsurer’s Risk Management Policy and (iii) the Reinsurer’s valuation and other information requested by the Ceding Company with respect to the assets held in the Trust Account. Nothing herein shall (x) require the Reinsurer to
disclose any information to the Ceding Company or its Representatives if such disclosure would jeopardize any attorney-client privilege, the work product immunity or any other legal privilege or similar doctrine or contravene any applicable Law or
any contract (including any confidentiality agreement to which the Reinsurer or any of its Affiliates is a party); it being understood that the Reinsurer shall use its reasonable best efforts to enable such information to be furnished or made
available to the Ceding Company or its 

  
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Representatives without so jeopardizing privilege or contravening such applicable Law (including redacting information or entering into joint defense agreements with the Ceding Company on
mutually agreeable terms) or (y) require the Reinsurer to disclose its Tax records or any personnel or related records (except with respect to Premium Taxes and other Taxes expressly covered by this Agreement). 

(f)    For purposes of any report or other item required to be delivered during the continuation of a FMV Triggering
Event, such report or other items shall also be required to be delivered during the continuation of a Recapture Triggering Event. 

Section 3.9.    Reports from the Ceding Company. The Ceding Company shall
deliver to the Reinsurer (a) the information set forth on Schedule N in accordance with the scope and timeframes set forth therein and (b) such other information that is reasonably requested by the Reinsurer, reasonably related
to the Reinsured Risks and is not unduly burdensome to the Ceding Company; provided, that the Reinsurer shall reimburse the Ceding Company for the Ceding Company’s reasonable out-of-pocket costs and expenses related to the provision of such other information. In the event the Reinsurer’s request for such other information is unduly burdensome to the Ceding Company, the
Parties agree to discuss alternative means by which the Reinsurer may be able to obtain such information. 
 ARTICLE IV. 

ADMINISTRATION 

Section 4.1.    Administration. 

(a)    The Ceding Company shall remain responsible for the administration of the Reinsured Contracts. The Ceding Company
may subcontract or assign such responsibility so long as the Ceding Company remains liable to the Reinsurer for the acts of any such subcontractor or assignee as if the Ceding Company was performing such administration itself. A subcontractor or
assignee can either be an Affiliate of the Ceding Company or a third party; provided, however, that the Ceding Company shall not change or engage any subcontractor of any services material to the administration of the Reinsured
Contracts without the Reinsurer’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed); provided, further, however, that no such consent of the Reinsurer is required to
subcontract any service to (A) an Affiliate of Ceding Company or (B) any subcontractor that provides the same or similar services to the Ceding Company with respect to variable annuity contracts of the Ceding Company that are not reinsured
hereunder or reinsured to a third party under any other agreement. In the event that the Ceding Company engages a new subcontractor to perform a material service in respect of the Reinsured Contracts and such engagement does not require the
Reinsurer’s consent hereunder, the Ceding Company shall provide notification to the Reinsurer as promptly as reasonably practicable following such engagement. 

(b)    The Ceding Company shall have full authority to determine liability on any Reinsured Liabilities reinsured
hereunder and may pay or settle such liabilities as it deems appropriate; provided, that the Ceding Company, and each of its subcontractors and assignees authorized pursuant to Section 4.1(a), acts in accordance with
the terms and conditions of this Agreement. 

  
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 Section 4.2.    Current
Practices. The Ceding Company shall not change, alter or otherwise compromise, and shall not allow any subcontractor to change, alter or otherwise compromise, its claims paying or administrative practices with respect to the Reinsured
Contracts without the prior written consent of the Reinsurer, which consent shall not be unreasonably withheld, conditioned, or delayed; provided, however, that no such consent of the Reinsurer is required for any change or alteration
in its claims paying or administrative practices if such change or alteration is also being made with respect to variable annuity contracts of the Ceding Company that are not reinsured hereunder or reinsured to a third party under any other
agreement. At the reasonable request of the Reinsurer, the Ceding Company shall provide to the Reinsurer information relating to any changes, alterations or compromises that do not require the Reinsurer’s consent under this
Section 4.2. 
 Section 4.3.    Performance
Standards. 
 (a)    The Ceding Company shall administer, or shall cause to be administered, the Reinsured
Contracts (i) with the skill, diligence and expertise that would reasonably be expected from experienced and qualified personnel performing such duties in like circumstances; (ii) using a standard of care and policies and procedures
generally that are, in the aggregate, at least as stringent as that employed by the Ceding Company (a) with respect to the Reinsured Contracts during the one (1)-year period immediately preceding the Effective Time and (b) to administer
its other similar businesses, and (iii) in all material respects in accordance with the terms and conditions of the Reinsured Contracts and applicable Laws, including the maintenance by the Ceding Company of all permits from Governmental
Authorities necessary to perform the administration contemplated by this Article IV. 

(b)    [***]. The Parties agree and acknowledge that payments with respect to any Reinsured Contracts that are made as
part of any exception satisfying this Section 4.3(b) shall be deemed Reinsured Liabilities and not Ex Gratia Payments. For the avoidance of doubt, the limitations set forth in Section 4.3(c)
below do not apply to the exceptions described in this Section 4.3(b). 
 (c)    [***]. 

Section 4.4.    Administrative Expense Allowance. For each Monthly
Accounting Period, the Reinsurer shall pay to the Ceding Company an amount equal to the Expense Allowances for such Monthly Accounting Period in consideration for the administration of the Reinsured Contracts. Such amount shall be paid as part of
the Monthly Net Settlements pursuant to Section 3.3(c). 

Section 4.5.    Designated Administrative Account. In accordance with the
provisions set forth in Section 5.7, the Ceding Company may request the Reinsurer to withdraw cash and cash equivalents maintained in the Trust Account on a monthly basis in an amount determined by the Ceding Company up to
the Monthly Funding Limit, and transfer such cash and cash equivalents to the Designated Administrative Account. As soon as reasonably practicable following its receipt of such request, the Reinsurer shall withdraw such amounts from the Trust
Account and transfer such amounts to the Ceding Company; provided, however, that if the Reinsurer fails to transfer such amounts within three (3) Business Days following its receipt of such request or, during the continuation of a
FMV Triggering Event, the Ceding Company may directly withdraw such amounts from the Trust Account. The funds in the Designated Administrative Account may be used by the Ceding Company at any time to pay General Account Liabilities. Such amounts
shall be withdrawn in accordance with the terms of the Trust Agreement. The Ceding Company and the Reinsurer agree 

  
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to promptly notify the Trustee of each change to the Monthly Funding Limit. If, following the Closing Date, the Ceding Company elects to fund the Designated Administrative Account, following
reasonable written notice thereof from the Ceding Company to the Reinsurer, the Reinsurer shall provide for sufficient cash and cash equivalents in the Trust Account on a monthly basis for such purpose. 

Section 4.6.    Producers; Selling and Other Agreements. The Ceding Company
shall not modify, terminate or amend, or waive (a) any of its rights or obligations under any agreement or portion thereof between it or any of its Affiliates, on the one hand, and any Producer who has solicited, sold, marketed, produced or
serviced any of the Reinsured Contracts, on the other hand, to the extent such modification, termination, amendment or waiver would adversely impact the Reinsurer or increase the Reinsurer’s liability hereunder; (b) any of its rights or
obligations under any agreement between it or any of its Affiliates, on the one hand, and any third party, on the other hand, to the extent related to the Separate Account Charges; or (c) any of the settlement options or policyholder investment
options chosen by the Ceding Company, including any underlying investment funds for which the Ceding Company has the right to control the modification, termination or amendment for any policyholder investment options, offered pursuant to the
Reinsured Contracts, except, in each case of (a) through (c), (i) to the extent not related to the Reinsured Contracts or (ii) with the Reinsurer’s prior written consent. 

Section 4.7.    Books and Records and Access. Each of the Ceding Company
and the Reinsurer shall maintain its respective Books and Records relating to the Reinsured Contracts. During the term of this Agreement, upon any reasonable request from the Reinsurer or its Representatives, the Ceding Company shall
(i) provide to the Reinsurer and its Representatives reasonable access during normal business hours to the Ceding Company’s Books and Records pertaining to the Reinsured Contracts, the Reinsured Liabilities, this Agreement or the
Reinsurer’s rights hereunder, provided such access shall not unreasonably interfere with the conduct of the business of the Ceding Company, (ii) permit the Reinsurer and its Representatives to inspect, photocopy and audit copies of such
Books and Records at their own cost, including as pertains to the payment of Reinsured Liabilities and the administration of the Reinsured Contracts and (iii) make available to the Reinsurer its personnel knowledgeable with respect thereto to
facilitate such inspection and audit. In furtherance of the foregoing, at the Reinsurer’ reasonable request, the Ceding Company shall meet with the Reinsurer and its Representatives upon reasonable notice and during business hours and for a
reasonable period of time (but no more than once per calendar quarter) to discuss the Ceding Company’s administration of the Reinsured Contracts. Nothing herein shall (x) require the Ceding Company to disclose any information to the
Reinsurer or its Representatives if such disclosure would jeopardize any attorney-client privilege, the work product immunity or any other legal privilege or similar doctrine or contravene any applicable Law or any contract (including any
confidentiality agreement to which the Ceding Company or any of its Affiliates is a party); it being understood that the Ceding Company shall use its reasonable best efforts to enable such information to be furnished or made available to the
Reinsurer or its Representatives without so jeopardizing privilege or contravening such applicable Law (including redacting information or entering into joint defense agreements with the Reinsurer on mutually agreeable terms) or (y) require the
Ceding Company to disclose its Tax records or any personnel or related records (except with respect to Premium Taxes and other Taxes expressly covered by this Agreement). 

Section 4.8.    Programs of Internal Replacement; Exchange Programs; Buy-Out Programs. Except for those programs in effect prior to the Closing Date and listed on Schedule L 

  
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attached hereto, unless otherwise agreed by the Parties, the Ceding Company will not, and will cause its Affiliates not to, directly or indirectly, undertake, solicit, sponsor or support any
exchange program in respect of the Reinsured Contracts or otherwise target in a directed, programmatic or systematic manner the Reinsured Contracts for replacement or take any actions with respect to the Reinsured Contracts designed or intended to
cause Policyholders of the Reinsured Contracts to surrender, lapse or annuitize, including any “buy-out” or “enhanced surrender value” program. Notwithstanding anything in this
Section 4.8 to the contrary, (a) the offering by the Ceding Company or any of its Affiliates to new clients and the Policyholders of the Reinsured Contracts of an insurance, annuity or investment product that offers
then-market terms that are more favorable to the Policyholders of the Reinsured Contacts in the normal course of the Ceding Company’s or such Affiliate’s business shall not be a violation of this Section, provided that the Ceding Company
does not increase the surrender benefits or other amounts payable under the Reinsured Contracts as an inducement for the exchange of the Reinsured Contracts for any such insurance, annuity or investment product and (b) correspondence to
Policyholders of the Reinsured Contracts informing them of settlement options available under their Reinsured Contracts shall not be a violation of this Section to the extent such correspondence is (i) consistent in all material respects with
correspondence to owners of variable annuity contracts that are not reinsured to the Reinsurer or any other third party or (ii) required by applicable Law.     

Section 4.9.    [***] 

ARTICLE V. 
 LICENSES;
RESERVE CREDIT; SECURITY 
 Section 5.1.    Licenses; Reserve Credit.

 (a)    At all times during the term of this Agreement, the Reinsurer shall (a) use its reasonable best efforts
to hold and maintain its license status in the Ceding Company Domiciliary State and (b) take all other actions necessary so that the Ceding Company may receive Reserve Credit. Should the Reinsurer fail to maintain such status, the Reinsurer
shall, at its own expense, take all steps necessary so as to permit the Ceding Company to obtain Reserve Credit no later than the third (3rd) Business Day prior to the end of the calendar quarter
during which such event occurred. The Reinsurer shall promptly notify the Ceding Company of any event or change in its licensing status in the Ceding Company Domiciliary State or other conditions that would be reasonably likely to result or have
resulted in any loss of, or impairment to, Reserve Credit. In addition, in furtherance of the performance of the Reinsurer’s obligations under this Section 5.1(a), the Ceding Company and the Reinsurer agree to amend
this Agreement, the Trust Agreement or any other Transaction Agreement or execute such additional documents as may be required to ensure continued Reserve Credit in the Ceding Company Domiciliary State. 

(b)    Notwithstanding the provisions of Section 5.1(a), if, without the prior written consent
of the Reinsurer, the Ceding Company has changed the Ceding Company Domiciliary State following the date hereof, the Reinsurer shall not be required to modify, amend or alter this Agreement or any other Transaction Agreement, or enter into any
arrangements or otherwise take any steps that it would not otherwise be required to take had the Ceding Company not changed the Ceding Company Domiciliary State if such steps would adversely affect the economic benefits the Reinsurer expects to
derive from this Agreement and the other Transaction Agreements, and the transactions contemplated hereunder and thereunder, in more than a de minimis manner. 

  
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 (c)    In the event that any Insurance Regulator takes a position with
respect to the provision of Reserve Credit that is unexpected by either Party, the Parties agree to reasonably cooperate with each other to attempt to minimize the impact of such position. In furtherance of the foregoing, the Ceding Company shall
reasonably participate with the Reinsurer in discussions with such Insurance Regulator regarding such unexpected position and reasonably cooperate with the Reinsurer in any written submissions to such Insurance Regulator in connection therewith.

 Section 5.2.    Security. 

(a)    On or prior to the Closing Date, the Reinsurer, as grantor, shall establish and thereafter shall maintain, at its
sole cost and expense, the Trust Account with the Trustee, naming the Ceding Company as sole beneficiary thereof to secure the Reinsurer’s obligations hereunder and, if required, to provide Reserve Credit. The Reinsurer shall maintain the Trust
Account in accordance with the terms of this Agreement and the Trust Agreement. 
 (b)    Concurrently with the
execution of this Agreement, the Trust Account is being funded with Eligible Assets in accordance with Section 3.1(b). In addition, if the Estimated Initial Required Balance exceeds the Estimated Initial Premium, on the
Closing Date, the Reinsurer will be required to deposit additional Eligible Assets into the Trust Account having a Statutory Book Value at least equal to such excess. 

(c)    In accordance with the terms set forth herein and in the Trust Agreement, and subject to the provisions of
Sections 5.6, 5.7 and 5.8 hereof, the Reinsurer shall ensure that (i) at all times that a FMV Triggering Event is not continuing, the Trust Account holds Eligible Assets in accordance with the terms hereof with a Statutory
Book Value not less than the Required Balance and (ii) at all times during the continuation of a FMV Triggering Event, the Trust Account holds Eligible Assets in accordance with the terms hereof with a Statutory Book Value and a Fair Market
Value not less than the Required Balance. All transfers to and withdrawals from the Trust Account shall be in accordance with and subject to the requirements set forth herein and in the Trust Agreement. Subject to the limitations set forth in the
Trust Agreement, the Parties agree that the cash and cash equivalents included in any Derivative Collateral Account shall be included in the calculation of the Eligible Assets in the Trust Account. 

(d)    During the term of the Trust Agreement, the Reinsurer shall not, and shall direct that the Trustee shall not, grant
or cause or permit to be created or granted in favor of any third person any security interest whatsoever in any of the assets in the Trust Account. 

Section 5.3.    Trust Account and Settlements. The Trustee shall hold
assets in the Trust Account pursuant to the terms of the Trust Agreement. All settlements of account under this Agreement between the Ceding Company and the Reinsurer shall be made in United States dollars in cash. 

Section 5.4.    Eligible Assets. The assets that may be held in the Trust
Account shall consist of cash or investments of the type consistent with the requirements for authorized investments and admitted assets under the insurance laws of the Ceding Company Domiciliary State; provided, that during the continuation
of a Reserve Credit Triggering Event such assets shall consist only of cash 

  
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(United States legal tender), certificates of deposit (issued by a United States bank and payable in United States legal tender), and other assets that qualify as investments of the types
specified in paragraphs (1), (2), (3), (8), or (10) of subsection (a) of Section 1404 of the New York Insurance Law or any successor thereto (assets meeting the requirements of this proviso and the requirement in clause
(a) below, “Regulation 114 Assets”); provided, further, that at all times, (a) each such investment that is a security is issued by an institution that is not the parent, subsidiary or Affiliate of either the
Reinsurer or the Ceding Company and (b) such investments comply with the Investment Guidelines set forth in Schedule B; (the assets meeting the requirements of this sentence being the “Eligible
Assets”). Any Restricted Asset in the Trust Account shall also be subject to the limitations set forth in the Trust Agreement. No later than eight (8) Business Days following the end of each Monthly Accounting Period, the Reinsurer
shall provide to the Ceding Company a monthly report listing each asset in the Trust Account and the Fair Market Value and Statutory Book Value of each such asset as of the end of the relevant Monthly Accounting Period and certify that each such
asset is an Eligible Asset. In addition, during the continuation of a Reserve Credit Triggering Event, each monthly asset listing shall indicate for each asset in the Trust Account whether or not such asset is a Regulation 114 Asset. The Parties
acknowledge that the statutory financial statement credit for the reinsurance ceded to the Reinsurer under this Agreement in the Ceding Company’s Statutory Financial Statements in respect of the assets in the Trust Account shall not exceed the
aggregate Fair Market Value of the Regulation 114 Assets in the Trust Account. 

Section 5.5.    Deposit of Assets. Subject to the Restricted Asset
Exceptions to the extent permitted under the Trust Agreement, prior to depositing assets in the Trust Account, the Reinsurer will execute assignments or endorsements in blank, or transfer legal title to the Trustee of all shares, obligations or any
other assets requiring assignments, in order that the Ceding Company, or the Trustee upon the direction of the Ceding Company, may whenever necessary negotiate any such assets without the consent or signature from the Reinsurer or any other entity.

 Section 5.6.    Modification Following Certain Events. The Parties
acknowledge and agree that, upon the occurrence of, and solely for the duration of the continuation of, a FMV Triggering Event or a Reserve Credit Triggering Event, as applicable, certain provisions of this Agreement and the Trust Agreement shall
cease to be effective, and other provisions shall automatically be effective, as described herein and in the Trust Agreement. Provisions of the Trust Agreement that will automatically become modified upon the occurrence of a FMV Triggering Event or
a Reserve Credit Triggering Event, as applicable, are specified in the Trust Agreement. Provisions of this Agreement that will automatically be modified during the continuation of a FMV Triggering Event or a Reserve Credit Triggering Event, as
applicable, are: (a) solely in the case of a Reserve Credit Triggering Event, the assets constituting Eligible Assets shall be modified as set forth in Section 5.4; (b) the valuation of Eligible Assets in the
Trust Account shall be valued at both Statutory Book Value and Fair Market Value; (c) solely in the case of a Reserve Credit Triggering Event, Section 5.7(a) governing the use and application of assets in the Trust
Account by the Ceding Company in the absence of a Reserve Credit Triggering Event shall not apply and Section 5.7(b) governing the use and application of assets in the Trust Account by the Ceding Company during the
continuation of a Reserve Credit Triggering Event shall apply; (d) Section 5.8(f)(i) governing the adjustment of security and withdrawal of assets in the Trust Account in the absence of a FMV Triggering Event shall not apply and
Section 5.8(f)(ii) governing the adjustment of security and withdrawal of assets in the Trust Account during the continuation of a FMV Triggering Event shall apply; and (e) solely in the case of a Reserve Credit
Triggering Event, the definition of Required Balance shall be modified as set forth therein. 

  
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 Section 5.7.    Withdrawal of Assets
from the Trust Account. 
 (a)    In the Absence of a Reserve Credit Triggering Event. So long as no
Reserve Credit Triggering Event has occurred and is continuing, the Ceding Company and Reinsurer agree that the assets maintained in the Trust Account may be withdrawn by the Ceding Company (or any successor by operation of law of the Ceding
Company, including any liquidator, rehabilitator, receiver or conservator of the Ceding Company) without diminution because of any insolvency, rehabilitation, conservatorship or comparable proceeding (an “Insolvency”) on the part of
the Ceding Company or the Reinsurer, in accordance with the terms of the Trust Agreement, in order to (i) pay or reimburse the Ceding Company for any undisputed amounts due from the Reinsurer under this Agreement and not yet recovered from the
Reinsurer, including any Reinsured Risks or other amounts due under this Agreement, (A) which amounts have not been paid by the Reinsurer within five (5) Business Days following its receipt of a specific written notice thereof or
(B) otherwise with the consent of the Reinsurer or (ii) to pay to the Ceding Company the Estimated Recapture Terminal Settlement as contemplated by Section 8.4(a) or the Estimated Termination Terminal Settlement
as contemplated by Section 8.6(a). The amount of any such withdrawal in excess of amounts then due to the Ceding Company hereunder shall be deemed maintained in trust by the Ceding Company for the benefit of the Reinsurer
and promptly returned to the Trust Account, along with interest on such amounts at the Interest Rate for the period that such amounts are held by the Ceding Company. 

(b)    During a Reserve Credit Triggering Event. During the continuation of a Reserve Credit Triggering Event, the
Ceding Company and the Reinsurer agree that the assets maintained in the Trust Account may be withdrawn by the Ceding Company at any time, notwithstanding any other provisions of this Agreement, and shall be utilized and applied by the Ceding
Company or any successor by operation of law of the Ceding Company, including any liquidator, rehabilitator, receiver or conservator of the Ceding Company, without diminution because of Insolvency on the part of the Ceding Company or Reinsurer only
for the following purposes: 
  

	 	(i)	 to reimburse the Ceding Company for the Reinsurer’s share of premiums returned to the owners of the
Reinsured Contracts on account of cancellations of such Reinsured Contracts; 

  

	 	(ii)	 to reimburse the Ceding Company for the Reinsurer’s share of surrenders and benefits or losses paid by the
Ceding Company pursuant to the provisions of the Reinsured Contracts; 

  

	 	(iii)	 to fund an account with the Ceding Company in an amount at least equal to the deduction, for reinsurance ceded,
from the Ceding Company’s liabilities for Reinsured Contracts. Such account shall include, but not be limited to, amounts for policy reserves, reserves for claims and losses incurred (including losses incurred but not reported), loss adjustment
expenses, and unearned premiums; and 

  

	 	(iv)	 to pay any other amounts the Ceding Company claims are due under this Agreement. 

The Ceding Company shall return to the Trust Account within five (5) Business Days of withdrawal, assets withdrawn in excess of all amounts due
under Sections 5.7(b)(i), (ii) and (iii), or, in the case of 

  
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Section 5.7(b)(iv), assets that are subsequently determined not to be due. The Ceding Company shall pay to the Reinsurer interest on amounts held pursuant to Sections
5.7(b)(iii) at the average of the daily “prime rate” published in The Wall Street Journal for each of the days in the applicable period, but in any event not less than zero, for the period that such assets are held by the Ceding
Company. Any excess amount shall at all times be held by the Ceding Company (or any successor by operation of law of the Ceding Company, including any liquidator, rehabilitator, receiver or conservator of the Ceding Company) in trust for the benefit
of the Reinsurer and be maintained in a segregated account, separate and apart from any assets of the Ceding Company for the sole purpose of funding the payments and reimbursements described in paragraphs (i), (ii) and
(iv) of Section 5.7(b). 
 (c)    In addition to the provisions of
Section 5.7(a) and (b), the Ceding Company and the Reinsurer agree that the assets maintained in the Trust Account may be withdrawn by the Ceding Company (or any successor by operation of law of the Ceding Company,
including any liquidator, rehabilitator, receiver or conservator of the Ceding Company) without diminution because of any Insolvency on the part of the Ceding Company or the Reinsurer, in accordance with the terms of the Trust Agreement, to
(i) fund the Designated Administrative Account as permitted in accordance with Section 4.5 and (ii) fund all costs and expenses of the Ceding Company to purchase derivatives in compliance with
Section 2.12. 
 Section 5.8.    Adjustment of Security
and Withdrawals. 
 (a)    The Reinsurer shall furnish a report (a
“Month-End Required Balance Report”) to the Ceding Company following the end of each calendar month containing (i) the Reinsurer’s calculation of the Required Balance as of the end
of such calendar month, in each case prepared in accordance with the Required Balance Model and Calculation Methodologies, the Ceding Company Statutory Reserves report received by the Reinsurer pursuant to this
Section 5.8(a) and the other terms and conditions of this Agreement (in each case, the “Month-End Required Balance”), (ii) an updated Reinsurer Sensitivity Grid
prepared in accordance with Schedule F-1 for use in calculating the Required Balances used for purposes of rebalancing the Trust Account on the applicable Monthly Funding Date [***]
thereafter until such time as the Month-End Required Balance and the Reinsurer Sensitivity Grid are subsequently updated in accordance with this Section 5.8(a), and (iii) a
calculation of the Required Balance as of the end of the Business Day immediately preceding the date upon which the Month-End Required Balance Report is furnished to the Ceding Company, calculated using such Month-End Required Balance, as adjusted by the updated Reinsurer Sensitivity Grid and, if applicable, the Ceding Company Sensitivity Grid (the “Adjusted Month-End
Required Balance”). The Reinsurer shall deliver each Month-End Required Balance Report no later than 6:00 p.m. (New York time) on the tenth (10th) Business Day following the end of each calendar
month; provided, however, that for each calendar month ending during a continuation of a FMV Triggering Event, the Reinsurer shall deliver the Month-End Required Balance Report no later than 6:00
p.m. (New York time) on the earlier of (x) the second (2nd) Business Day following the day on which the Reinsurer receives from the Ceding Company the Ceding Company’s calculation of the
Ceding Company Statutory Reserves and the updated Ceding Company Sensitivity Grid for such calendar month and (y) the sixteenth (16th) Business Day following the end of each calendar month;
provided, that in no event shall the Reinsurer be required to deliver the Month-End Required Balance Report prior to the tenth (10th) Business Day following the end of each calendar month. In order for
the Reinsurer to prepare the Month-End Required Balance Reports for each calendar month during a continuation of a FMV Triggering Event, no later than fifteen (15) Business Days following the end of each
calendar month, the Ceding Company shall provide to the Reinsurer (1) a calculation of the Ceding Company 

  
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Statutory Reserves as of the end of such calendar month and (2) an updated Ceding Company Sensitivity Grid prepared in accordance with
Schedule F-2, provided, that the Ceding Company shall strive to deliver its calculation of the Ceding Company Statutory Reserves and the updated Ceding Company Sensitivity Grid by the
ninth (9th) Business Day following the end of each calendar month. So long as no FMV Triggering Event is continuing, no later than thirty (30) calendar days following the end of each calendar quarter other than the last calendar quarter of a
calendar year, and with respect to the last calendar quarter of a calendar year, no later than sixty (60) calendar days following the end of such calendar quarter, the Ceding Company shall provide to the Reinsurer, for informational purposes
only, a calculation of the Ceding Company Statutory Reserves as of the end of such calendar quarter. For the avoidance of doubt, (A) all components of the Required Balance will be determined as of the end of each calendar month except that
[***] will be determined on a quarterly basis in a manner consistent with Schedule E-1, (B) when calculating the Adjusted Month-End Required Balance [***], the
Reinsurer Sensitivity Grid will be used only to update the CTEX Amount component of the Required Balance and (C) during the continuation of a FMV Triggering Event, the Ceding Company Sensitivity Grid will be used only to update the Ceding
Company Statutory Reserves portions of the Reference Statutory Reserves components of the Required Balance. 
 (b)    In
accordance with Section 5.8(f), the Adjusted Month-End Required Balance contained in any Month-End Required Balance Report shall be used for
purposes of rebalancing the Trust Account on the applicable Monthly Funding Date. 
 (c)    [***] 

(d)    [***] 

(e)    Within fifteen (15) Business Days following the occurrence of a FMV Triggering Event, the Ceding Company shall
provide to the Reinsurer an initial Ceding Company Sensitivity Grid to be used for purposes of rebalancing the Trust Account on each Monthly Funding Date [***] thereafter until the Month-End Required Balance
and the Ceding Company Sensitivity Grid are subsequently updated in accordance with Section 5.8(a). 

(f)    The amount of security required to be provided by the Reinsurer hereunder shall be adjusted (i) (A) on each
Monthly Funding Date, based on the applicable Adjusted Month-End Required Balance and [***]; and (ii) based on the aggregate Statutory Book Value and/or aggregate Fair Market Value (as applicable) of
Eligible Assets in the Trust Account as of the end of the applicable Valuation Date [***]. The Reinsurer shall also indicate in the [***] if it believes that any asset in the Trust Account is not an Eligible Asset. The amount of security held in the
Trust Account shall be adjusted on each Security Funding Date as follows: 
  

	 	(i)	 So long as no FMV Triggering Event is continuing: 

 

	 	(1)	 If the aggregate Statutory Book Value of the Eligible Assets held in the Trust Account as of the end of the
applicable Valuation Date is less than the Adjusted Month-End Required Balance [***], as of such Security Funding Date, calculated based on the applicable Funding Report delivered pursuant to
Section 5.8(a) or Section 5.8(c) [***], then the Reinsurer shall, no later than 3:00 p.m. (New York time) on 

  
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the Security Funding Date, transfer additional Eligible Assets to the Trust Account so that the aggregate Statutory Book Value of the Eligible Assets held in the Trust Account is not less than
such Adjusted Month-End Required Balance [***]; provided, however, that, except in the case of a Monthly Funding Date, the Reinsurer shall have no obligation to deposit assets into the Trust
Account on any Security Funding Date pursuant to this Section 5.8(f)(i)(1) if the amount otherwise required to be deposited on such date is less than [***] (as applicable, the “Trust Adjustment Threshold”);
and provided, further, however, that if by 2:00 p.m. (New York time) on any Security Funding Date, the Reinsurer has not received amounts that are due on such date from any counterparties to the Reinsurer’s derivatives
contracts covering the Reinsured Risks, the Reinsurer shall have until 6:00 p.m. (New York time) on such Security Funding Date to deposit the portion of the required deposit that the Reinsurer expected to be funded by such amounts.

  

	 	(2)	 If the aggregate Statutory Book Value of the Eligible Assets in the Trust Account as of the end of the
applicable Valuation Date exceeds the Adjusted Month-End Required Balance [***], as of such Security Funding Date, calculated based on the applicable Funding Report delivered pursuant to
Section 5.8(a) or 5.8(c) [***], then the Reinsurer shall have the right to withdraw such excess on the Security Funding Date in accordance with the terms of the Trust Agreement; provided, that except in the
case of a Monthly Funding Date, the Reinsurer shall have no right to withdraw assets from the Trust Account on any Security Funding Date pursuant to this Section 5.8(f)(i)(2) if the amount otherwise permitted to be
withdrawn is less than the applicable Trust Adjustment Threshold. 

  

	 	(3)	 If the Reinsurer seeks to cause the Trustee to substitute new Eligible Assets for Eligible Assets held in the
Trust Account, which new Eligible Assets have (x) an aggregate Statutory Book Value at least equal to the aggregate Statutory Book Value of the substituted Eligible Assets held in the Trust Account immediately prior to such substitution and
(y) an aggregate Fair Market at least equal to 95% of the aggregate Fair Market Value of the substituted Eligible Assets held in the Trust Account immediately prior to such substitution, then the Reinsurer shall have the right to cause (and
shall only cause) the Trustee to effect such substitution in accordance with the procedures set forth in the Trust Agreement. 

  

	 	(ii)	 During the continuation of a FMV Triggering Event: 

 

	 	(1)	 If the aggregate Statutory Book Value or aggregate Fair Market Value of the Eligible Assets held in the Trust
Account as of the end of the applicable Valuation Date is less than the Adjusted Month-End Required Balance [***], as of such Security Funding Date, calculated

  
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based on the applicable Funding Report delivered pursuant to Section 5.8(a) or 5.8(c) [***], then the Reinsurer shall, no later than 3:00 p.m. (New York time) on
the Security Funding Date, transfer additional Eligible Assets to the Trust Account so that the aggregate Statutory Book Value and aggregate Fair Market Value of the Eligible Assets held in the Trust Account is not less than such Adjusted Month-End Required Balance [***]; provided, however, that if by 2:00 p.m. (New York time) on any Security Funding Date, the Reinsurer has not received amounts that are due on such date from any
counterparties to the Reinsurer’s derivatives contracts covering the Reinsured Risks, the Reinsurer shall have until 6:00 p.m. (New York time) on such Security Funding Date to deposit the portion of the required deposit that the Reinsurer
expected to be funded by such amounts. For the sake of clarity, due to the modifications to this Agreement during the continuation of a FMV Triggering Event pursuant to Section 5.6, including (x) the requirement to
value the assets at both Statutory Book Value and Fair Market Value and any changes to the Investment Guidelines, on the Security Funding Date immediately following the date on which the Reinsurer becomes aware of the occurrence of a FMV Triggering
Event, the Reinsurer shall be required to make additional deposits of Eligible Assets into the Trust Account if necessary to ensure that the aggregate Statutory Book Value and aggregate Fair Market Value of the Eligible Assets in the Trust Account
is not less than the Required Balance as of such Security Funding Date and, in the event of a Reserve Credit Triggering Event, replace at Fair Market Value any asset in the Trust Account that no longer qualifies as an Eligible Asset.

  

	 	(2)	 If the aggregate Statutory Book Value and the aggregate Fair Market Value of the Eligible Assets held in the
Trust Account as of the end of the applicable Valuation Date exceed the Adjusted Month-End Required Balance [***], as of such Security Funding Date, calculated based on the applicable Funding Report delivered
pursuant to Section 5.8(a) or 5.8(c) [***], then the Reinsurer shall have the right to withdraw excess assets on the Security Funding Date in accordance with the terms of the Trust Agreement upon the prior written
consent of the Ceding Company, which consent shall not be unreasonably withheld, delayed or conditioned, it being understood that the Ceding Company’s consent shall be deemed to have been provided if the Ceding Company has not responded to such
request for consent within two and one-half hours following the delivery of such request to the Beneficiary on a Business Day. 

 

	 	(3)	 If the Reinsurer seeks to cause the Trustee to substitute new Eligible Assets for Eligible Assets held in the
Trust Account, which new Eligible Assets have an aggregate Fair Market Value at least equal to the aggregate Fair Market Value of the substituted Eligible Assets held in the Trust Account immediately prior to such substitution, and the

  
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aggregate Statutory Book Value of the Eligible Assets in the Trust Account immediately following such substitution would not be less than the Required Balance, then the Reinsurer shall have the
right to cause the Trustee to effect such substitution only with the prior written consent of the Ceding Company, which consent the Ceding Company shall deliver as promptly as reasonably practicable following the Ceding Company’s confirmation
of the aggregate Statutory Book Values and aggregate Fair Market Values of the Eligible Assets, including the Eligible Assets to be substituted and being replaced. 

(g)    Without limiting the Reinsurer’s obligations to fund the Trust Account in accordance with the timelines
required in Section 5.8(f), in the event that the Parties disagree with the calculation of the Required Balance or of the Statutory Book Value or Fair Market Value of any Eligible Asset or whether any asset in the Trust
Account is an Eligible Asset as set forth in any Funding Report [***], any Party may deliver written notice to the other Party of such disagreement and the Parties shall attempt in good faith to resolve such disagreement. 

(h)    Any resolution as to disagreements arising under Section 5.8(g) agreed to in writing by
the Parties shall be final and binding upon the Parties. If the Parties are unable to resolve any disagreement as to the calculation of the Required Balance or of the Statutory Book Value or Fair Market Value, as applicable, of any Eligible Asset or
whether any asset is an Eligible Asset within two (2) Business Days after either Party delivers written notice of any such disagreement to the other Party, the Parties shall jointly request (A) an accounting firm of national reputation or
any other Person, as mutually agreed by the Parties hereto (the “Independent Accounting Firm”), to make a determination with respect to all matters in dispute, other than with respect to the calculation of the Reinsurer Statutory
Reserves, the Ceding Company Statutory Reserves, [***], the CTEX Amount or whether the CTEX Amount and [***] were determined in accordance with the Required Balance Model and Calculation Methodologies, or (B) with respect to the calculation of
the Reinsurer Statutory Reserves, the Ceding Company Statutory Reserves, [***] the CTEX Amount or whether the CTEX Amount and [***] were determined in accordance with the Required Balance Model and Calculation Methodologies, an actuarial firm of
national reputation, as mutually agreed by the Parties hereto (the “Independent Actuary”) to determine the matters in dispute; provided, that, if no firm is willing or able to serve, unless otherwise agreed by the Parties,
such dispute shall be resolved in accordance with Section 11.8. The Independent Accounting Firm’s determination of the Required Balance and/or of the Statutory Book Value or Fair Market Value, as applicable, of the
disputed Eligible Asset or whether the disputed asset is an Eligible Asset shall be final and binding upon the Parties. The Independent Actuary’s determination of the Reinsurer Statutory Reserves, the Ceding Company Statutory Reserves, [***]
the CTEX Amount or whether the CTEX Amount and [***] were determined in accordance with the Required Balance Model and Calculation Methodologies shall be final and binding upon the Parties. All fees and expenses relating to the work of the
Independent Accounting Firm and the Independent Actuary shall be paid by the Party (that is, the Ceding Company or the Reinsurer) whose position with respect to the matter in dispute is furthest from the Independent Accounting Firm’s or
Independent Actuary’s, as applicable, final determination. After a final and binding resolution of any dispute described in this Section 5.8(h) is reached, the Parties agree to promptly make any necessary adjustments
under Section 5.8(f) so that the Statutory Book Value and/or the Fair Market Value, as applicable, of the Eligible Assets held in the Trust Account is not less than the amount required pursuant to
Section 5.8(f)(i) or 5.8(f)(ii), as applicable. 

  
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 (i)    The Reinsurer shall keep full and complete records of all
withdrawals by the Reinsurer from the Trust Account. Upon the reasonable written request of the Ceding Company, but not more than once per calendar quarter, the Reinsurer shall provide the Ceding Company a report of withdrawals from the Trust
Account. 
 Section 5.9.    Continuation of a Triggering Event. Upon the
occurrence of any FMV Triggering Event or Recapture Triggering Event, such FMV Triggering Event or Recapture Triggering Event, as applicable, shall be deemed to be continuing unless (a) such FMV Triggering Event or Recapture Triggering Event,
as applicable, has been cured and (b) no other FMV Triggering Event or Recapture Triggering Event, as applicable, has occurred during a period of six (6) months commencing with the date of such cure. A Reserve Credit Triggering Event shall
be deemed to be continuing unless no Reserve Credit Event exists or would exist but for the modifications of this Agreement in connection with a Reserve Credit Triggering Event as set forth in Section 5.6. The Ceding
Company agrees to deliver a cure notice to the Trustee promptly upon becoming aware that a FMV Triggering Event or Reserve Credit Triggering Event is no longer continuing in accordance with the terms of this Section 5.9.

 ARTICLE VI. 

OVERSIGHTS; COOPERATION 

Section 6.1.    Oversights. Inadvertent delays, oversights, errors or
omissions made in connection with this Agreement or any transaction hereunder shall not relieve either Party from any liability that would have attached had such delay, oversight, error or omission not occurred. The Parties shall nevertheless
cooperate in good faith to rectify such delay, oversight, error or omission as soon as possible after discovery so that both Parties shall be restored as closely as possible to the positions they would have occupied if no delay, oversight, error or
omission had occurred. 
 Section 6.2.    Cooperation. The Ceding Company
and the Reinsurer shall cooperate with each other in order to accomplish the objectives of this Agreement by furnishing additional information and executing and delivering any additional documents as may be reasonably requested by the other to
further perfect or evidence the consummation of, or otherwise implement, any transaction contemplated by this Agreement or the other Transaction Agreements, or to aid in the preparation of any regulatory filing or financial statement;
provided, however, that any such additional documents must be reasonably satisfactory to each Party and not impose upon either Party any material liability, risk, obligation, loss, cost or expense not contemplated by this Agreement or
the other Transaction Agreements. 
 Section 6.3.    Changes to RBC.
In the event of a material change to or elimination by applicable Law of the requirement for the Reinsurer or any Affiliate Retrocessionaire, as applicable, to calculate risk-based capital or in the event there is a material change relating to
the framework, factors and/or formulae prescribed by the insurance regulatory authority in the Reinsurer’s or such Affiliate Retrocessionaire’s jurisdiction of domicile that are used to calculate RBC Ratios (or, in the event that an
Affiliate Retrocessionaire is not a U.S. domiciled insurance company, the equivalent capital adequacy ratios determined in accordance with the terms of this Agreement) from those in effect at the Effective Time, the Parties shall amend this
Agreement to adjust the RBC Ratios (or such equivalent capital adequacy ratios) reflected in the definitions of FMV Triggering Event, Recapture Triggering Event or otherwise required under this Agreement so that such adjusted RBC Ratio (or

  
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such equivalent capital adequacy ratio) or any replacement formula as determined after such material change or elimination will reasonably correspond to the relevant RBC Ratio (or such equivalent
capital adequacy ratio) requirements in effect as of the Effective Time within thirty (30) days after the implementation of such change, and, if the Parties cannot agree on any such adjustments, the Reinsurer shall, and shall cause such
Affiliate Retrocessionaire to, continue to calculate its RBC Ratio (or such equivalent capital adequacy ratio) as if such material change or elimination had not occurred; provided, however, that any such change (together with any
previous changes or series of changes) that, in the aggregate, requires an adjustment of ten (10) percentage points or less to the applicable RBC Ratio (or an equivalent adjustment to such equivalent capital adequacy ratio) requirement in
effect as of the Effective Time (or, to the extent previously adjusted hereunder, the RBC Ratio (or such equivalent capital adequacy ratios) requirement in effect as of the last adjustment date) shall not be deemed “material” for purposes
of this Section 6.3. 
 ARTICLE VII. 

INSOLVENCY 

Section 7.1.    Insolvency of the Ceding Company. 

(a)    In the event of the insolvency of the Ceding Company, all reinsurance made, ceded, renewed or otherwise becoming
effective under this Agreement shall be payable by the Reinsurer directly to the Ceding Company or its statutory liquidator, receiver or statutory successor on the basis of the liability of the Ceding Company under the Reinsured Contracts without
diminution because of the insolvency of the Ceding Company. 
 (b)    It is understood, however, that in the event of
such an insolvency of the Ceding Company, the liquidator, receiver or statutory successor of the Ceding Company shall give written notice of the pendency of a claim against the Ceding Company on a Reinsured Contract within a reasonable period of
time after such claim is filed in the applicable Insolvency proceedings and that during the pendency of such claim the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated,
any defense or defenses which it may deem available to the Ceding Company or its liquidator, receiver or statutory successor. It is further understood that the expense thus incurred by the Reinsurer will be chargeable, subject to applicable Law and
court approval, against the Ceding Company as part of the expense of liquidation to the extent of a proportionate share of the benefit which may accrue to the Ceding Company solely as a result of the defense undertaken by the Reinsurer. 

ARTICLE VIII. 

DURATION; RECAPTURE 

Section 8.1.    Duration. This Agreement shall continue in force until such
time as (i) the Ceding Company’s Liability arising out of or related to all Reinsured Contracts is terminated in accordance with their respective terms and each Party has received payments which discharge the other Party’s liabilities
incurred hereunder prior to such termination, (ii) in accordance with Section 8.3, if the Ceding Company has elected to recapture the reinsurance of the Reinsured Contracts, and each Party has received payments which
discharge the other Party’s liability in full in accordance with Section 8.4 and the other terms of this Agreement, or (iii) in accordance with 

  
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Section 8.5, if the Reinsurer has elected to terminate the reinsurance of the Reinsured Contracts, and each Party has received payments which discharge the other
Party’s liability in full in accordance with Section 8.6 and the other terms of this Agreement. 

Section 8.2.    Survival. Notwithstanding the other provisions of this
Article VIII, the terms and conditions of Articles I , VIII and IX, and the provisions of Sections 3.6, 11.1, 11.2, 11.3, 11.4, 11.5,
11.6, 11.8, 11.9, 11.10, 11.11, 11.13 and 11.15 shall remain in full force and effect after the termination of this Agreement. 

Section 8.3.    Recapture. 

(a)    For a period of one hundred and eighty (180) calendar days following receipt of notice of the occurrence of a
Recapture Triggering Event, the Ceding Company shall have the right (but not the obligation) to recapture all, and not less than all, of the Reinsured Risks ceded under this Agreement, by providing the Reinsurer with written notice of its intent to
effect such a recapture; provided, however, that during the continuation of a Recapture Triggering Event described in clause (a) or (b) of the definition of “Recapture Triggering Event,” if the RBC Ratio of the Reinsurer
or an Affiliate Retrocessionaire, as applicable, has further decreased at least [***] percentage points below the applicable RBC Ratio set forth in clause (a) or (b) of the definition of “Recapture Triggering Event,” then for a period
of one hundred and eighty (180) calendar days following receipt of notice of such decrease, the Ceding Company shall have the right (but not the obligation) to recapture all, and not less than all, of the Reinsured Risks ceded under this
Agreement notwithstanding the expiration of the initial one hundred and eighty (180) calendar day period. 

(b)    Any recapture pursuant to Section 8.3(a) shall be effective (i) as of 11:59 p.m.
(New York time) on the last Business Day of the calendar month during which the Ceding Company delivers a Recapture Notice to the Reinsurer; provided, that if such Recapture Notice was delivered less than seven (7) calendar days prior to
the end of such calendar month, then as of 11:59 p.m. (New York time) on the last Business Day of the following calendar month (unless an early effective date and time is necessary in order to effectuate the recapture prior to any loss of Reserve
Credit hereunder, in which case any recapture pursuant to Section 8.3(a) shall be effective as of such earlier date and time) or (ii) on such later date and time as set forth in the Ceding Company’s Recapture
Notice (provided such later date is the last day of a calendar month and is not later than ninety (90) calendar days following the delivery by the Ceding Company of a notice of recapture to the Reinsurer) (the “Recapture
Date”). 
 (c)    Following a recapture pursuant to Section 8.3(a), subject to the
satisfaction of payment obligations described in Section 8.4, (i) both the Ceding Company and the Reinsurer will be fully and finally released from all rights and obligations under this Agreement in respect of the
Reinsured Risks other than the obligations under the provisions that expressly survive termination as provided in Section 8.2 and (ii) no Additional Consideration shall be payable to the Reinsurer with respect to the
Reinsured Risks. 
 (d)    Notwithstanding the remedies contemplated by this Article VIII or
the other Transaction Agreements, the Ceding Company may, in its sole discretion, require direct payment by the Reinsurer of any sum in default under this Agreement or any other Transaction Agreement or pursue any other remedy to which the Ceding
Company may be entitled hereunder or at law or in equity in lieu of exercising the remedies in this Article VIII, and it shall be no defense to any such claim that the Ceding Company might have had other recourse. 

  
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 Section 8.4.    Recapture Payments 

(a)    In connection with a recapture pursuant to Section 8.3(a), subject to the shorter time
frames required by Section 8.4(e), no later than three (3) days prior to the Recapture Date, the Ceding Company shall prepare and provide to the Reinsurer a settlement statement (the “Estimated Recapture
Terminal Settlement Statement”) setting forth an estimated calculation of the Recapture Terminal Settlement (the “Estimated Recapture Terminal Settlement”), provided such estimate shall be based on the last Month-End Required Balance Report delivered by the Reinsurer to the Ceding Company pursuant to Section 5.8(a). If the amount of the Estimated Recapture Terminal Settlement is positive, then
on the Recapture Date (i) the Ceding Company may instruct the Trustee pursuant to the Trust Agreement to transfer to the Ceding Company assets having a Fair Market Value equal to the Estimated Recapture Terminal Settlement (or if the assets in
the Trust Account are insufficient for such payment, instruct the Trustee to transfer all assets remaining in the Trust Account to the Ceding Company) and (ii) if the assets in the Trust Account are insufficient for payment of such amount, the
Reinsurer shall pay any shortfall to the Ceding Company in cash. If the amount of the Estimated Recapture Terminal Settlement is negative, then on the Recapture Date, the Ceding Company shall pay the absolute value of such amount to the Reinsurer in
cash. 
 (b)    No later than sixty (60) days after the Recapture Date, the Ceding Company shall prepare and
provide to the Reinsurer a statement (the “Recapture Terminal Settlement Statement”) setting forth a calculation of the terminal settlement with respect to the recapture calculated in accordance with Schedule H (the
“Recapture Terminal Settlement”). 
 (c)    In the event that the Reinsurer disagrees with any portion
of the calculation of the Recapture Terminal Settlement, the Reinsurer shall within five (5) Business Days after its receipt of such report deliver written notice to the Ceding Company setting forth, in reasonable detail, each disputed item,
the amount in dispute and the basis of such disagreement and the Parties shall attempt in good faith to resolve such disagreement. Any resolution agreed to in writing by the Parties shall be final and binding upon the Parties. If the Parties are
unable to resolve any disagreement within ten (10) Business Days after the Reinsurer delivers written notice of any such disagreement to the Ceding Company, either Party may request (i) an Independent Accounting Firm to make a
determination with respect to all matters in dispute, other than with respect to the calculation of the Reinsurer Statutory Reserves, the Ceding Company Statutory Reserves, [***] the CTEX Amount or whether the CTEX Amount and [***] were determined
in accordance with the Required Balance Model and Calculation Methodologies, or (ii) with respect to the calculation of the Reinsurer Statutory Reserves, the Ceding Company Statutory Reserves, [***] the CTEX Amount or whether the CTEX Amount
and [***] were determined in accordance with the Required Balance Model and Calculation Methodologies, an Independent Actuary to determine the matters in dispute; provided, that, if no accounting firm or actuarial firm, as applicable, is
willing or able to serve, unless otherwise agreed by the Parties, such dispute shall be resolved in accordance with Section 11.8. The Independent Accounting Firm’s and/or Independent Actuary’s determination, as
applicable, shall be final and binding upon the Parties. All fees and expenses relating to the work of the Independent Accounting Firm and the Independent Actuary shall be paid by the Party (that is, the Ceding Company or the Reinsurer) whose
position with respect to the matter in dispute is furthest from the Independent Accounting Firm’s or Independent Actuary’s, as applicable, final determination. 

  
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 (d)    Within five (5) Business Days after a final and binding
resolution of any dispute described in Section 8.4(c) is reached, the Parties agree to make any necessary adjustments. On the date on which the payments set forth in this Section 8.4(d) are made,
(i) if the Recapture Terminal Settlement exceeds the Estimated Recapture Terminal Settlement, the Reinsurer shall pay to the Ceding Company an amount equal to such excess; and (ii) if the Estimated Recapture Terminal Settlement exceeds the
Recapture Terminal Settlement, the Ceding Company shall pay to the Reinsurer an amount equal to such excess. Any payment required to be made by any Party pursuant to this Section 8.4(d) shall incur interest at the Interest
Rate for the period from and including the Recapture Date to but not including the date of payment, and will be made by wire transfer of immediately available funds to an account or accounts designated by the recipient in writing prior to such
payment. 
 (e)    Notwithstanding the timelines set forth in this Section 8.4, if the
recapture is due to a Reserve Credit Event or the Reinsurer’s intention to enter into a Significant Transaction, the Parties shall reasonably expedite or amend the procedures set forth in this Section 8.4 in order to
effectuate the recapture and complete the payment of the Recapture Terminal Settlement prior to any loss of Reserve Credit or the consummation of such Significant Transaction, as applicable; provided, that such change to the procedures set
forth in Section 8.4 shall not affect the right of the Reinsurer to subsequently dispute any calculation related to such recapture consistent with Section 8.4(c). 

Section 8.5.    Termination for Failure to Pay Amounts Due to Reinsurer.

 (a)    For a period of one hundred and eighty (180) days following receipt of notice of the occurrence of a
Termination Triggering Event, the Reinsurer shall have the right (but not the obligation) to terminate this Agreement in full, by providing the Ceding Company with written notice of its intent to effect such a termination. 

(b)    Any termination pursuant to Section 8.5(a) shall be effective (i) as of 11:59 p.m.
(New York time) on the last Business Day of the calendar month during which the Reinsurer delivers a termination notice to the Ceding Company; provided that if such termination notice was delivered less than ten (10) Business Days prior to the
last Business Day of such calendar month, then as of 11:59 p.m. (New York time) on the last Business Day of the following calendar month or (ii) on such later date as set forth in the Reinsurer’s termination notice (provided such later
date is the last day of a calendar month and is not later than ninety (90) calendar days following the delivery by the Reinsurer of a notice of termination to the Ceding Company) (the “Termination Date”). 

(c)    Following a termination pursuant to Section 8.5(a), subject to the satisfaction of
payment obligations described in Section 8.6, (i) both the Ceding Company and the Reinsurer will be fully and finally released from all rights and obligations under this Agreement in respect of the Reinsured Risks
other than the obligations under the provisions that expressly survive termination as provided in Section 8.2 and (ii) no Additional Consideration shall be payable to the Reinsurer with respect to the Reinsured Risks.

 (d)    Notwithstanding the remedies contemplated by this Article VIII or the other
Transaction Agreements, Reinsurer may, in its sole discretion, require direct payment by the Ceding Company of any sum in default under this Agreement or any other Transaction Agreement or pursue any other remedy to which the Reinsurer may be
entitled hereunder or at law or in equity in lieu of exercising the remedies in this Article VIII, and it shall be no defense to any such claim that the Reinsurer might have had other recourse. 

  
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 Section 8.6.    Termination
Payments. 
 (a)    In connection with a termination pursuant to Section 8.5(a), no
later than three (3) days prior to the Termination Date, the Reinsurer shall prepare and provide to the Ceding Company a settlement statement (the “Estimated Termination Terminal Settlement Statement”) setting forth an
estimated calculation of the Termination Terminal Settlement (the “Estimated Termination Terminal Settlement”), provided such estimate shall be based on the last Month-End Required Balance
Report delivered by the Reinsurer to the Ceding Company pursuant to Section 5.8(a). If the amount of the Estimated Termination Terminal Settlement is positive, then on the Termination Date (i) the Ceding Company may
instruct the Trustee pursuant to the Trust Agreement to transfer to the Ceding Company assets having a Fair Market Value equal to the Estimated Termination Terminal Settlement (or if the assets in the Trust Account are insufficient for such payment,
instruct the Trustee to transfer all assets remaining in the Trust Account to the Ceding Company) and (ii) if the assets in the Trust Account are insufficient for payment of such amount, the Reinsurer shall pay any shortfall to the Ceding
Company in cash. If the amount of the Estimated Termination Terminal Settlement is negative, then on the Termination Date, the Ceding Company shall pay the absolute value of such amount to the Reinsurer in cash. 

(b)    No later than sixty (60) days after the Termination Date, the Reinsurer shall prepare and deliver to the
Ceding Company a statement (the “Termination Terminal Settlement Statement”) setting forth a calculation of the terminal settlement with respect to the termination calculated in accordance with Schedule I (the
“Termination Terminal Settlement”). 
 (c)    In the event that the Ceding Company disagrees with any
portion of the calculation of the Termination Terminal Settlement, the Ceding Company shall within five (5) Business Days after its receipt of such report deliver written notice to the Reinsurer setting forth, in reasonable detail, each
disputed item, the amount in dispute and the basis of such disagreement and the Parties shall attempt in good faith to resolve such disagreement. Any resolution agreed to in writing by the Parties shall be final and binding upon the Parties. If the
Parties are unable to resolve any disagreement within ten (10) Business Days after the Ceding Company delivers written notice of any such disagreement to the Reinsurer, either Party may request (i) an Independent Accounting Firm to make a
determination with respect to all matters in dispute, other than with respect to the calculation of the Reinsurer Statutory Reserves or the Ceding Company Statutory Reserves, or (ii) with respect to the calculation of the Reinsurer Statutory
Reserves or the Ceding Company Statutory Reserves, an Independent Actuary to determine the matters in dispute; provided, that, if no accounting or actuarial firm, as applicable, is willing or able to serve, unless otherwise agreed by the
Parties, such dispute shall be resolved in accordance with Section 11.8. The Independent Accounting Firm’s and/or Independent Actuary’s determination, as applicable, shall be final and binding upon the Parties.
All fees and expenses relating to the work of the Independent Accounting Firm and the Independent Actuary shall be paid by the Party (that is, the Ceding Company or the Reinsurer) whose position with respect to the matter in dispute is furthest from
the Independent Accounting Firm’s or Independent Actuary’s, as applicable, final determination. 

(d)    Within five (5) Business Days after a final and binding resolution of any dispute described in
Section 8.6(c) is reached, the Parties agree to make any necessary adjustments. 

  
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On the date on which the payments set forth in this Section 8.6(d) are made, (i) if the Termination Terminal Settlement exceeds the Estimated Termination Terminal
Settlement, the Reinsurer shall pay to the Ceding Company an amount equal to such excess; and (ii) if the Estimated Termination Terminal Settlement exceeds the Termination Terminal Settlement, the Ceding Company shall pay to the Reinsurer an
amount equal to such excess. Any payment required to be made by any Party pursuant to this Section 8.6(d) shall incur interest at the Interest Rate for the period from and including the Termination Date to but not including
the date of payment, and will be made by wire transfer of immediately available funds to an account or accounts designated by the recipient in writing prior to such payment. 

Section 8.7.    Termination of Trust Account. Following (i) the recapture of
Reinsured Risks hereunder pursuant to Section 8.3 and the payment in full of the Recapture Terminal Settlements thereof (including the resolution of all disputed items in accordance with
Section 8.4(c)) or (ii) a termination of Reinsured Risks hereunder pursuant to Section 8.5 and the payment in full of the Termination Terminal Settlements thereof (including the resolution of
all disputed items in accordance with Section 8.6(c)), the Trust Account shall be terminated and any remaining amounts or amount held in trust pursuant to Article V shall be released to the
Reinsurer. The Ceding Company shall promptly take all actions, including providing written consent to the Trustee, to permit such termination of the Trust Account and release of such assets to the Reinsurer. 

ARTICLE IX. 

INDEMNIFICATION 

Section 9.1.    Reinsurer’s Obligation to
Indemnify. The Reinsurer hereby agrees to indemnify, defend and hold harmless the Ceding Company and its Affiliates and their respective officers, directors, stockholders, employees, representatives, successors and assigns (collectively, the
“Ceding Company Indemnified Parties”) from and against any and all Losses incurred by the Ceding Company Indemnified Parties to the extent arising from (i) any breach by the Reinsurer of the covenants and agreements of the
Reinsurer contained in this Agreement; (ii) the Ceding Company’s acceptance and implementation of the Reinsurer’s recommendations with respect to Non-Guaranteed Elements pursuant to
Section 2.8, (iii) [***], (iv) the Ceding Company’s enforcement of the Guarantee; (v) Section 9(c)(ii) of the Trust Agreement; and (vi) any successful enforcement of this indemnity. 

Section 9.2.    Ceding Company’s Obligation to
Indemnify. The Ceding Company hereby agrees to indemnify, defend and hold harmless the Reinsurer and its Affiliates and their respective officers, directors, stockholders, employees, representatives, successors and assigns (collectively, the
“Reinsurer Indemnified Parties”) from and against any and all Losses incurred by the Reinsurer Indemnified Parties to the extent arising from (i) any breach by the Ceding Company of the covenants and agreements of the Ceding
Company contained in this Agreement; (ii) any Excluded Liability; and (iii) any successful enforcement of this indemnity. 

Section 9.3.    Applicability of Master Transaction Agreement. The procedures set
forth in Section 13.05 (Procedures for Third Party Claims), Section 13.06 (Direct Claims) and Section 13.07 (Sole Remedy) of the Master Transaction Agreement shall apply to Losses under this
Article IX. 

  
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 Section 9.4.    Good
Faith. The Ceding Company and the Reinsurer each hereby covenants and agrees that from and after the Closing Date it shall act in good faith and deal fairly with each other in order to accomplish the objectives of this Agreement and the
other Transaction Agreements; provided, that each Party absolutely and irrevocably waives resort to the duty of “utmost good faith” or any similar principle in connection with the formation of this Agreement or any other Transaction
Agreement. 
 ARTICLE X. 

TAXES 

Section 10.1.    Withholding. Each Party and any of their agents shall be
entitled to deduct and withhold from any amount otherwise payable pursuant to this Agreement such amounts as it is required to deduct and withhold with respect to the making of such payment under any provision of federal, state, local or foreign
applicable Tax Law. If a Party determines that an amount is required to be deducted or withheld, such Party shall use reasonable best efforts to: (i) provide written notice to the other Party, at least five (5) Business Days before the
relevant payment of such deduction or withholding, (ii) cooperate in good faith with the other Party to reduce or eliminate the deduction or withholding of such amount and (iii) provide the other Party a reasonable opportunity to provide
forms or documentation that would exempt such amounts from withholding. If any amount is so withheld and paid over to the applicable Governmental Authority, such amounts paid to the applicable Governmental Authority shall be treated for all purposes
of this Agreement as having been paid to the Person with respect to which such deduction or withholding was imposed. Without limiting the generality of the foregoing, each Party agrees to provide to the other on or before the date hereof an accurate
and complete copy of IRS Form W-9 and shall deliver renewals or additional copies of such forms (or successor forms) to the other Party on or before the date that such forms expire or become obsolete.

 Section 10.2.    DAC Tax Adjustment. 

(a)    To the extent that Section 848 of the Code and corresponding Treasury Regulations Section 1.848-2 are applicable to the Reinsured Contracts, the Ceding Company and the Reinsurer hereby make the joint election provided for in Treasury Regulations
Section 1.848-2(g)(8) (the “DAC Tax Election”) and agree as follows: 
  

	 	(i)	 The Parties will attach a schedule to their respective U.S. federal income tax returns identifying this
Agreement as a reinsurance agreement for which the DAC Tax Election has been made, and will otherwise file their respective federal income tax returns in a manner consistent with the DAC Tax Election. Such schedule shall be attached to each
Party’s U.S. federal income tax return filed for the first taxable year ending after the DAC Tax Election becomes effective. 

  

	 	(ii)	 The Party with the net positive consideration for this Agreement for each taxable year will capitalize
specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1) of the Code. 

  
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	 	(iii)	 The Parties agree to exchange information pertaining to the amount of the net consideration under this
Agreement each year to ensure consistency or as otherwise required by the Code or the Internal Revenue Service. 

  

	 	(iv)	 The DAC Tax Election shall be effective for the first taxable year in which this Agreement is effective and for
all years for which this Agreement remains in effect. 

 (b)    As used in this
Article X, the terms “net consideration,” “net positive consideration,” “specified policy acquisitions expenses” and “general deductions limitation” are defined by reference to
Treasury Regulations Section 1.848-2 and Section 848 of the Code, in effect as of the Effective Time. 

(c)    Each of the Parties represents and warrants that it is subject to U.S. taxation under the provisions of Subchapter L
of Chapter 1 of Subtitle A of the Code. 
 ARTICLE XI. 

MISCELLANEOUS 

Section 11.1.    Expenses. Except as may be otherwise specified in this
Agreement, all costs and expenses, including fees and disbursements of counsel, financial advisers and independent accountants, incurred in connection with this Agreement and the transactions contemplated herein shall be paid by the Person incurring
such costs and expenses. 
 Section 11.2.    Notices. All notices,
requests, consents, claims, demands and other communications under this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service,
by electronic mail (followed by delivery of an original via overnight courier service, except with respect to [***]) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties hereto at the following
respective addresses (or at such other address for a Party hereto as shall be specified in a notice given in accordance with this Section 11.2). 

(a)     if to the Ceding Company: 

Equitable Financial Life Insurance Company 

1290 Avenue of the Americas 

New York, NY 10104 

Attention:    Jose Gonzalez 

Tel:            
  212-554-1234 

E-mail:        jose.gonzalez@equitable.com 

with a copy to: 
 Willkie
Farr & Gallagher LLP 
 787 Seventh Avenue 

New York, New York 10019 

Attention:     John M. Schwolsky 

                     Elizabeth B.
Bannigan 

  
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	Tel:	  	(212) 728-8232
		  	(212) 728-8135
	 E-mail:
	  	jschwolsky@willkie.com
		  	ebannigan@willkie.com

 (b)     if to the Reinsurer: 

Corporate Solutions Life Reinsurance Company 

1475 Dunwoody Drive 
 West
Chester, PA 19380 
 Attention: Greg Smith 

			
		    	Timothy Brown
	 Email:
	    	Gregory.Smith@venerable.com
		    	Timothy.Brown@venerable.com

 with a copy (which shall not constitute notice) to: 

Sidley Austin LLP 
 One South
Dearborn 
 Chicago, IL, 60603 

Attention: Perry J. Shwachman, Jonathan Kelly 

Email address: pshwachman@sidley.com 

                       
  jjkelly@sidley.com 
 Section 11.3.    Severability. If any
term or other provision of this Agreement is invalid, illegal or incapable of being enforced under any Law or as a matter of public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so
long as the economic or legal substance of the transactions contemplated herein is not affected in any manner materially adverse to either Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being
enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated herein be consummated
as originally contemplated to the greatest extent possible. 
 Section 11.4.    Entire
Agreement. This Agreement (including all exhibits and schedules hereto) and the other Transaction Agreements constitute the entire agreement of the Parties with respect to the subject matter of this Agreement and the other Transaction
Agreements and supersede all prior agreements and undertakings, both written and oral, between or on behalf of the Ceding Company and/or its Affiliates, on the one hand, and the Reinsurer and/or its Affiliates, on the other hand, with respect to the
subject matter of this Agreement and the other Transaction Agreements. 

Section 11.5.    Assignment. This Agreement shall not be assigned by any
Party without the prior written consent of the other Party. Any attempted assignment in violation of this Section 11.5 shall be void. This Agreement shall be binding upon, shall inure to the benefit of, and shall be
enforceable by the Parties and their permitted successors and assigns. 

  
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 Section 11.6.    No Third Party
Beneficiaries. Except as otherwise provided herein, this Agreement is for the sole benefit of the Parties and their permitted successors and assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any
other Person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

Section 11.7.    Amendment. No provision of this Agreement may be amended,
supplemented or modified except by a written instrument signed by each Party. 

Section 11.8.    Submission to Jurisdiction. 

(a)    Each of the Ceding Company and the Reinsurer irrevocably and unconditionally submits for itself and its property in
any Action arising out of or relating to this Agreement, the transactions contemplated hereby, the formation, breach, termination or validity of this Agreement or the recognition and enforcement of any judgment in respect of this Agreement, to the
exclusive jurisdiction of the courts of the State of New York sitting in the County of New York, the federal courts for the Southern District of New York, and appellate courts having jurisdiction of appeals from any of the foregoing, and all claims
in respect of any such Action shall be heard and determined in such New York courts or, to the extent permitted by Law, in such federal court. 

(b)    Any such Action may and shall be brought in such courts and each of the Ceding Company and the Reinsurer
irrevocably and unconditionally waives any objection that it may now or hereafter have to the venue or jurisdiction of any such Action in any such court or that such Action was brought in an inconvenient court and shall not plead or claim the same.

 (c)    Service of process in any Action may be effected by mailing a copy of such process by registered or certified
mail (or any substantially similar form of mail), postage prepaid, to such Party at its address as provided in Section 11.2. 

(d)    Nothing in this Agreement shall affect the right to effect service of process in any other manner permitted by the
Laws of the State of New York. 
 Section 11.9.    Governing Law. This
Agreement, and the formation, termination or validity of any part of this Agreement shall in all respects be governed by, and construed in accordance with, the Laws of the State of New York. 

Section 11.10.    Waiver of Jury Trial. EACH PARTY HERETO IRREVOCABLY AND
UNCONDITIONALLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, OR ITS PERFORMANCE UNDER OR THE ENFORCEMENT OF THIS
AGREEMENT. 
 Section 11.11.    Specific Performance.
The Parties agree that irreparable damage would occur in the event that any of the covenants or obligations contained in this Agreement are not performed in accordance with their specific terms or were otherwise breached. Accordingly, each of
the Parties shall be entitled to injunctive or other equitable relief to prevent or cure any breach by the other Party of its covenants or obligations contained in this Agreement and to specifically enforce such covenants and obligations in any
court referenced in Section 11.8(a) having jurisdiction, such remedy being in addition to any other remedy to which either Party may be entitled hereunder or at law or in equity.

  
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Each of the Parties acknowledges and agrees that it shall not oppose the granting of an injunction, specific performance and other equitable relief when expressly available pursuant to the terms
of this Agreement, and hereby waives (x) any defenses in any Action for an injunction, specific performance or other equitable relief, including the defense that the other Parties have an adequate remedy at Law or an award of specific
performance is not an appropriate remedy for any reason at Law or equity, and (y) any requirement under Law to post a bond, undertaking or other security as a prerequisite to obtaining equitable relief. 

Section 11.12.    Waivers. Any term or provision of this Agreement may be waived,
or the time for its performance may be extended, in writing at any time by the Party or Parties entitled to the benefit thereof. Any such waiver shall be validly and sufficiently authorized for the purposes of this Agreement if, as to any Party, it
is authorized in writing by an authorized Representative of such Party. The failure of any Party hereto to enforce at any time any provision of this Agreement shall not be construed to be a waiver of such provision, nor in any way to affect the
validity of this Agreement or any part hereof or the right of any Party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to constitute a waiver of any preceding or subsequent breach. 

Section 11.13.    Rules of Construction. Interpretation of this Agreement shall be
governed by the following rules of construction: (a) words in the singular shall be held to include the plural and vice versa, and words of one gender shall be held to include the other gender as the context requires; (b) references to
Articles, Sections, paragraphs, Exhibits and Schedules are references to the Articles, Sections, paragraphs, Exhibits and Schedules to this Agreement unless otherwise specified; (c) references to “$” shall mean United
States dollars; (d) the word “including” and words of similar import when used in this Agreement shall mean “including without limiting the generality of the foregoing,” unless otherwise specified;
(e) the table of contents, articles, titles and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement; (f) this Agreement shall be construed
without regard to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be drafted; (g) the Schedules and Exhibits referred to herein shall be construed with and as an integral
part of this Agreement to the same extent as if they were set forth verbatim herein; (h) unless the context otherwise requires, the words “hereof,” “herein” and “hereunder” and words of similar
import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; (i) all terms defined in this Agreement shall have the defined meanings when used in any certificate or other
document made or delivered pursuant hereto unless otherwise defined therein; (j) any agreement or instrument defined or referred to herein or any agreement or instrument that is referred to herein means such agreement or instrument as from time
to time amended, modified or supplemented, including by waiver or consent, and references to all attachments thereto and instruments incorporated therein; (k) unless otherwise specified herein, any statute or regulation referred to herein means
such statute or regulation as amended, modified, supplemented or replaced from time to time (and, in the case of any statute, includes any rules and regulations promulgated under such statute), and references to any section of any statute or
regulation include any successor to such section; (l) all time periods within or following which any payment is to be made or act to be done shall be calculated by excluding the date on which the period commences and including the date on which
the period ends and by extending the period to the first succeeding Business Day if the last day of the period is not a Business Day; (m) references to any Person include such Person’s predecessors or successors, whether by merger,
consolidation, amalgamation, reorganization or otherwise; and (n) references to any contract (including this Agreement) or organizational document are to the contract or organizational document as amended, modified, supplemented or replaced
from time to time, unless otherwise stated. 

  
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 Section 11.14.    Counterparts.
This Agreement may be executed in two (2) or more counterparts, and by the different Parties to this Agreement in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or other means of electronic transmission utilizing reasonable image scan technology shall be as effective as delivery of a
manually executed counterpart of this Agreement. 
 Section 11.15.    Treatment of
Confidential Information. 
 (a)    The Ceding Company and the Reinsurer agree to hold each other’s
Confidential Information in strict confidence and to take all commercially reasonable steps to ensure that Confidential Information is not disclosed in any form by any means by such Party, its Affiliates, by any of its Representatives or
subcontractors to third parties of any kind, other than the Representatives performing services for such Party who need access to such Confidential Information in the course and scope of providing such services or any equity investors of VA Capital
Company LLC, except as is authorized by the other Party in advance and in compliance with all applicable Law. If any Confidential Information needs to be disclosed as required by applicable Law or court order, the disclosing Party shall (if
permitted by applicable Law) provide prompt notice to the other Party prior to such disclosure so that such other Party may (at its expense) seek a protection order or other appropriate remedy which is necessary to protect its interest. 

(b)    In the ordinary course of business, Ceding Company will not transfer, disclose, share, furnish, or provide Non-Public Personal Information to Reinsurer under this Agreement. In those limited circumstances where it is strictly necessary for Ceding Company to transfer Non-Public
Personal Information to Reinsurer for purposes of this Agreement, Reinsurer will (i) comply in all material respects with applicable Laws with respect to the processing of such Non-Public Personal
Information; (ii) retain, use, process, and disclose all Non-Public Personal Information created by Reinsurer on behalf of Ceding Company only to monitor and ensure the Ceding Company’s compliance
with the terms of this Agreement, perform the services or its obligations under this Agreement, or as otherwise instructed by Ceding Company or permitted by this Agreement; (iii) refrain from selling such
Non-Public Personal Information or using such Non-Public Personal Information for reasons unrelated to Reinsurer’s business relationship with Ceding Company;
(iv) take commercially reasonable steps to ensure that all Non-Public Personal Information created by the Reinsurer on behalf of the Ceding Company is not subject to unauthorized alteration or deletion,
unlawful destruction or accidental loss while such Non-Public Personal Information is under the direct control and possession of Reinsurer; (v) subject to applicable Law and the terms of the
Reinsurer’s record retention policies, take commercially reasonable steps to comply with the provisions of this Agreement and the reasonable instructions of the Ceding Company to return or destroy the
Non-Public Personal Information; and (vi) take commercially reasonable steps to limit access to and possession of Non-Public Personal Information in a manner
consistent with the nature and sensitivity of such information. 
 (c)    If either Party receives a third party demand
pursuant to subpoena, summons, or court or Governmental Order or request, to disclose Confidential Information provided by the other Party, the receiving Party shall, if legally permitted, provide the disclosing Party with prompt written

  
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notice of any subpoena, summons, or court or Governmental Order or request, within a reasonable time prior to such release or disclosure. Unless the disclosing Party has given its prior
permission to release or disclose the proprietary information, the receiving Party shall not comply with the subpoena prior to the actual date required by the subpoena. If a protective order or appropriate remedy is not obtained, the receiving Party
may disclose only that portion of the proprietary information that it is legally obligated to disclose and shall use reasonable best efforts to treat such proprietary information as confidential. However, notwithstanding anything to the contrary in
this Agreement, this Section 11.15(c) shall not be construed as requiring the receiving Party to act in any way that would not comply with the subpoena, summons, or court or Governmental Order. 

(d)    The Reinsurer shall establish and maintain (i) administrative, technical, and physical safeguards designed to
protect against the destruction, loss, or alteration of Confidential and Non-Public Personal Information, and (ii) appropriate security measures designed to protect Confidential and Non-Public Personal Information in compliance with the requirements of all applicable Laws relating to personal information security. 

(e)    As needed to comply with applicable Laws concerning the processing of
Non-Public Personal Information, the Parties agree to work cooperatively and in good faith to amend this Agreement in a mutually agreeable and timely manner, or to enter into further mutually agreeable
agreements to the extent required by Law to comply with any such applicable Laws applicable to the Parties. 

(f)    The Parties agree that the breach, or threatened breach, of any of the confidentiality provisions of this Agreement
may cause irreparable harm without adequate remedy at law. Upon any such breach, the disclosing Party will be entitled to injunctive relief to prevent the receiving Party from commencing or continuing any action constituting such breach, without
having to post a bond or other security and without having to prove the inadequacy of other available remedies. Nothing in this Section 11.15(f) will limit any other remedy available to either Party. 

Section 11.16.    Incontestability. In consideration of the mutual covenants and
agreements contained herein, each Party agrees that this Agreement, and each and every provision hereof, is and shall be enforceable by and between them according to its terms, and each Party does hereby agree that it shall not contest the validity
or enforceability hereof. 
 [The rest of this page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed on the day and year
first above written. 
  

					
	EQUITABLE FINANCIAL LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Robin Raju

		 	Name:	 	Robin Raju
		 	Title:	 	Senior Executive Director and CFO
	
	CORPORATE SOLUTIONS LIFE REINSURANCE COMPANY
		
	By:	 	 /s/ Patrick D. Lusk

		 	Name:	 	Patrick D. Lusk
		 	Title:	 	President and Chief Executive Officer

 Signature Page to Coinsurance and Modified Coinsurance Agreement

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