Document:

EX-4.2

 Exhibit 4.2 

4.400% SENIOR NOTES DUE 2046 

FOURTH SUPPLEMENTAL INDENTURE 

among 
 DELPHI AUTOMOTIVE PLC,

 as Issuer 
 THE GUARANTORS
FROM TIME TO TIME PARTY HERETO, 
 as Guarantors 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Trustee 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Registrar, Paying Agent and Authenticating Agent 

Dated as of September 20, 2016 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	PAGE	 
	ARTICLE 1	  			
	DEFINITIONS	  			
			
	 Section 1.01.
	 	Definition of Terms	  	 	1	  
	 Section 1.02.
	 	Other Definitions	  	 	6	  
		
	ARTICLE 2	  			
	TERMS AND CONDITIONS OF THE NOTES	  			
			
	 Section 2.01.
	 	Terms of the Notes	  	 	7	  
	 Section 2.02.
	 	Execution and Authentication	  	 	9	  
		
	ARTICLE 3	  			
	REDEMPTION OF THE NOTES	  			
			
	 Section 3.01.
	 	Optional Redemption	  	 	9	  
	 Section 3.02.
	 	Tax Redemption	  	 	10	  
	 Section 3.03.
	 	[Reserved]	  	 	11	  
		
	ARTICLE 4	  			
	NOTE GUARANTEES	  			
			
	 Section 4.01.
	 	Note Guarantees	  	 	11	  
	 Section 4.02.
	 	Future Guarantees	  	 	12	  
		
	ARTICLE 5	  			
	COVENANTS	  			
			
	 Section 5.01.
	 	Limitation on Liens	  	 	12	  
	 Section 5.02.
	 	Limitation on Sale/Leaseback Transactions	  	 	15	  
	 Section 5.03.
	 	Payments of Additional Amounts	  	 	15	  
	 Section 5.04.
	 	Change of Control Triggering Event	  	 	18	  
		
	ARTICLE 6	  			
	CONSOLIDATION, MERGER AND SALE OF ASSETS	  			
			
	 Section 6.01.
	 	Consolidation, Merger and Sale of Assets of Guarantors	  	 	19	  
		
	ARTICLE 7	  			
	EVENTS OF DEFAULT	  			
			
	 Section 7.01.
	 	Events of Default	  	 	20	  
	 Section 7.02.
	 	Limitations on Suits	  	 	20	  

  
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	ARTICLE 8	  			
	AMENDMENTS AND WAIVERS	  			
			
	 Section 8.01.
	 	Without Consent of Holder	  	 	21	  
		
	ARTICLE 9	  			
	MISCELLANEOUS	  			
			
	 Section 9.01.
	 	Ratification of Base Indenture	  	 	21	  
	 Section 9.02.
	 	Governing Law	  	 	21	  
	 Section 9.03.
	 	Separability	  	 	21	  
	 Section 9.04.
	 	Counterparts	  	 	21	  
			
	 EXHIBITS
	 		  			
			
	 Exhibit A
	 	Form of 2046 Note	  			

  
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 FOURTH SUPPLEMENTAL INDENTURE, dated as of September 20, 2016 (this “Fourth
Supplemental Indenture”), among Delphi Automotive PLC, a public limited company formed under the laws of Jersey (the “Issuer”), the guarantors from time to time party hereto, Wilmington Trust, National Association, as
trustee (together with its successors and assigns in such capacity, the “Trustee”), and Deutsche Bank Trust Company Americas, a New York banking corporation, as Registrar, Paying Agent and Authenticating Agent under the Senior
Indenture, dated as of March 10, 2015, among the Issuer, the guarantors from time to time party thereto, Deutsche Bank Trust Company Americas, as Registrar, Paying Agent and Authenticating Agent, and the Trustee (the “Base
Indenture” and, together with this Fourth Supplemental Indenture, the “Indenture”). 
 WHEREAS, the Issuer
executed and delivered the Base Indenture to the Trustee to provide, among other things, for the future issuance of the Issuer’s Notes to be issued from time to time in one or more series as might be determined by the Issuer under the Base
Indenture, in an unlimited aggregate principal amount which may be authenticated and delivered as provided in the Indenture; 
 WHEREAS,
Section 2.03 of the Base Indenture provides for various matters with respect to any series of Notes issued under the Base Indenture to be established in an indenture supplemental to the Base Indenture; 

WHEREAS, Section 9.01 of the Base Indenture provides for the Issuer and the Trustee to enter into a supplemental indenture to the Base
Indenture to establish the form or terms of Notes of any series as permitted by Section 2.03 of the Base Indenture; 
 WHEREAS,
pursuant to the terms of the Base Indenture, the Issuer desires to provide for the establishment of a new series of Notes to be known as its 4.400% Senior Notes due 2046 (the “2046 Notes”), the form and substance of such 2046 Notes
and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture and this Fourth Supplemental Indenture; and 

WHEREAS, the Issuer has requested that the Trustee execute and deliver this Fourth Supplemental Indenture and all requirements necessary to
make (i) this Fourth Supplemental Indenture a valid instrument in accordance with its terms, and (ii) the 2046 Notes, when executed by the Issuer and authenticated and delivered by the Authenticating Agent, the valid obligations of the
Issuer, have been performed, and the execution and delivery of this Fourth Supplemental Indenture has been duly authorized in all respects. 

NOW THEREFORE, in consideration of the purchase and acceptance of the 2046 Notes by the Holders thereof, and for the purpose of setting forth,
as provided in the Base Indenture and the form 2046 Note, and substance of the 2046 Notes, and the terms, provisions and conditions thereof, the Issuer and the Guarantors covenant and agree with the Trustee as follows: 

ARTICLE 1 
 DEFINITIONS 

Section 1.01. Definition of Terms. Unless the context otherwise requires: 

(a) a term defined in the Base Indenture has the same meaning when used in this Fourth Supplemental Indenture unless the definition of such
term is otherwise provided pursuant to this Fourth Supplemental Indenture, in which case the definition in this Fourth Supplemental Indenture shall govern solely with respect to the 2046 Notes; 

 (b) a term defined anywhere in this Fourth Supplemental Indenture has the same meaning
throughout; 
 (c) the singular includes the plural and vice versa; 

(d) unless stated otherwise, a reference to a Section or Article is to a Section or Article in this Fourth Supplemental Indenture; 

(e) headings are for convenience of reference only and do not affect interpretation; and 

(f) the following terms have the meanings given to them in this Section 1.01(f): 

“Additional 2046 Notes” means additional 2046 Notes constituting part of the same series as the 2046 Notes issued on
the Issue Date having identical terms and conditions to the 2046 Notes, except with respect to issue date, issue price and interest prior to the first Interest Payment Date. 

“Attributable Debt” means, with respect to any Sale and Leaseback Transaction that does not result in a Capitalized
Lease Obligation, the present value (computed in accordance with GAAP) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such Sale and Leaseback Transaction (including any period for which
such lease has been extended). In the case of any lease which is terminable by the lessee upon payment of a penalty, the Attributable Debt shall be the lesser of: 

(1) the Attributable Debt determined assuming termination upon the first date such lease may be terminated (in which case the
Attributable Debt shall also include the amount of the penalty, but no rent shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated); and 

(2) the Attributable Debt determined assuming no such termination. 

“Business Day” means each day which is not a Legal Holiday. 

“Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options,
participations or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock, but excluding any debt securities convertible into such equity. 

“Capitalized Lease Obligations” means an obligation that is required to be classified and accounted for as a
capitalized lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with GAAP. 

“Cash Management Obligations” means obligations in respect of overdraft and related liabilities arising from treasury,
depositary and cash management services or any automated clearing house transfers of funds or participating in commercial (or purchasing) card programs. 

“Consolidated Total Assets” means, at any time, the total consolidated assets of Delphi LLP and its Subsidiaries, as
shown on the most recent balance sheet of Delphi LLP at such time calculated on a pro forma basis to give effect to any acquisition or disposition of any Person or line of business after the date thereof. 

  
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 “Credit Agreement” means, the Amended and Restated Credit Agreement,
dated as of August 17, 2016 by and among the Issuer, Delphi LLP, Delphi Automotive Holdings US Limited, Delphi Corporation, the several lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (including,
without limitation, any guarantee agreements and security documents), in each case as such agreements may be further amended (including any amendment and restatement thereof), supplemented, extended or otherwise modified from time to time.

 “Credit Facilities” means (1) the Credit Agreement and (2) one or more debt facilities, indentures
or other agreements refinancing, replacing, amending, restating or supplementing (whether or not contemporaneously and whether or not related to the agreements specified above) or otherwise restructuring or increasing the amount of available
borrowings or other credit extensions under or making Subsidiaries of Delphi LLP a borrower, additional borrower or guarantor under, all or any portion of the Indebtedness under such agreement or any successor, replacement or supplemental agreement
and whether including any additional obligors or with the same or any other agent, lender or group of lenders or with other financial institutions or lenders. 

“Delphi LLP” means Delphi Automotive LLP, a limited liability partnership organized under the laws of England and
Wales (and its successors). 
 “Domestic Subsidiary” means any Subsidiary that was formed under the laws of
the United States, any state of the United States or the District of Columbia. 
 “Existing Notes” means Delphi
Corporation’s 5.00% Senior Notes due 2023. 
 “GAAP” means generally accepted accounting principles in the
United States of America as in effect as of the Issue Date set forth in: 
 (1) the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants, 
 (2) statements and pronouncements
of the Financial Accounting Standards Board, 
 (3) such other statements by such other entities as approved by a significant
segment of the accounting profession, and 
 (4) the rules and regulations of the SEC governing the inclusion of financial
statements (including pro forma financial statements) in periodic reports required to be filed pursuant to Section 13 of the Exchange Act, including opinions and pronouncements in staff accounting bulletins and similar written statements from
the accounting staff of the SEC. 
 “Guarantor” means Delphi LLP, Delphi Automotive Holdings US Limited, Delphi Corporation
and any Person that provides a Note Guarantee of the 2046 Notes under the Indenture, until released as provided in Section 10.05 of the Base Indenture or Section 4.02 of this Fourth Supplemental Indenture. 

“Indebtedness” means the principal of and premium (if any) in respect of indebtedness of such Person for borrowed money. 

Notwithstanding the foregoing, (i) in connection with the purchase by Delphi LLP or any Subsidiary of any business, the term “Indebtedness”
will exclude bona fide post-closing payment adjustments to which the seller may become entitled to the extent such payment is determined by a final closing balance sheet or such payment depends on the performance of such business after the closing;
provided, however, that, 

  
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at the time of closing, the amount of any such payment is not determinable and, to the extent such payment thereafter becomes fixed and determined, the amount is paid within 30 days thereafter
and (ii) Cash Management Obligations and other obligations in respect of card obligations, netting services, overdraft protections, cash management services and similar arrangements shall not constitute Indebtedness. 

The amount of Indebtedness of any Person at any date shall be the outstanding balance at such date of all unconditional obligations as
described above; provided, however, that in the case of Indebtedness sold at a discount, the amount of such Indebtedness at any time will be the accreted value thereof at such time. 

“interest” means, with respect to 2046 Notes, interest on the 2046 Notes and any Additional Amounts in respect thereof. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the
equivalent) by Standard & Poor’s, or if Moody’s or Standard & Poor’s shall cease to provide a rating of the 2046 Notes, an equivalent rating by any other Ratings Agency. 

“Issue Date” means September 20, 2016. 

“Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge in the nature of an encumbrance of any kind
(including any conditional sale or other title retention agreement or lease in the nature thereof); provided that any obligation in respect of an operating lease shall not be deemed a lien. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating business. 

“Note Guarantee” means each guarantee of the obligations with respect to the 2046 Notes issued by a Guarantor pursuant to the
terms of the Indenture. 
 “principal”, with respect to a 2046 Note, means the principal of the 2046 Note plus the premium,
if any, payable on the 2046 Note which is due or overdue or is to become due at the relevant time and any Additional Amounts in respect thereof. 

“Principal Property” means any manufacturing or production plant located in the United States of America (including fixtures
but excluding leases and other contract rights which might otherwise be deemed real property) owned by Delphi LLP or any Restricted Subsidiary, whether owned on the date hereof or thereafter, provided each such plant has a net book value at the date
as of which the determination is being made of in excess of 1% of the Consolidated Total Assets of Delphi LLP and its Subsidiaries, other than any such plant which, in the opinion of the Board of Directors (evidenced by a certified board resolution
thereof delivered to the Trustee), is not of material importance to the business conducted by Delphi LLP and its Subsidiaries taken as a whole. As of the Issue Date, neither the Company nor any Restricted Subsidiary owns any Principal Property. If
the Company acquires property in the future that is Principal Property, it will be subject to Section 5.01 
 “Ratings
Agency” means Standard & Poor’s and Moody’s or, if Standard & Poor’s or Moody’s or either or both of them shall not make a rating on the 2046 Notes publicly available, a nationally recognized
statistical rating agency or agencies, as the case may be, selected by Delphi LLP (as certified by a resolution of the Board of Directors) which shall be substituted for Standard & Poor’s or Moody’s or either or both of them, as
the case may be. 

  
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 “Refinance” means, in respect of any Indebtedness, to refinance, extend,
renew, refund, repay, prepay, redeem, defease or retire, or to issue other Indebtedness in exchange or replacement for, such Indebtedness, including, in any such case from time to time, after the discharge of the Indebtedness being Refinanced.
“Refinanced” and “Refinancing” shall have correlative meanings. 
 “Refinancing
Indebtedness” means Indebtedness that is incurred to Refinance (including pursuant to any defeasance or discharge mechanism) any Indebtedness of Delphi LLP or any Subsidiary existing on the Issue Date or incurred in compliance with the
Indenture (including Indebtedness that Refinances Refinancing Indebtedness); provided, however, such Refinancing Indebtedness is incurred in an aggregate principal amount (or if incurred with original issue
discount, an aggregate issue price) that is equal to or less than the aggregate principal amount of the Indebtedness being refinanced (or if issued with original issue discount, the aggregate accreted value) then outstanding (or that would be
outstanding if the entire committed amount of any credit facility being Refinanced were fully drawn) (plus fees and expenses, including any premium and defeasance costs and accrued interest). 

“Restricted Subsidiary” means any Domestic Subsidiary of Delphi LLP that directly owns any Principal Property. 

“Sale and Leaseback Transaction” means an arrangement relating to property, plant or equipment now owned or hereafter
acquired by Delphi LLP or a Restricted Subsidiary whereby Delphi LLP or a Restricted Subsidiary transfers such property to a Person and Delphi LLP or such Restricted Subsidiary leases it from such Person, other than (i) leases between Delphi
LLP and a Subsidiary or between Subsidiaries or (ii) any such transaction entered into with respect to any property, plant or equipment or any improvements thereto at the time of, or within 180 days after, the acquisition or completion of
construction of such property, plant or equipment or such improvements (or, if later, the commencement of commercial operation of any such property, plant or equipment), as the case may be, to finance the cost of such property, plant or equipment or
such improvements, as the case may be. 
 “Significant Subsidiary” means any Restricted Subsidiary that would
be a “Significant Subsidiary” of Delphi LLP within the meaning of Rule 1-02(w)(1) or (2) under Regulation S-X promulgated by the SEC as in effect on the Issue Date. 

“Standard & Poor’s” means Standard & Poor’s Financial Services LLC, a division of S&P
Global Inc., and any successor to its rating business. 
 “Subsidiary” of any Person means any corporation,
association, partnership or other business entity of which more than 50% of the total voting power of shares of Capital Stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote
in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by: 

(1) such Person, 

(2) such Person and one or more Subsidiaries of such Person or 

(3) one or more Subsidiaries of such Person. 

Unless otherwise specified herein or context otherwise requires, all references to any Subsidiary shall be to a Subsidiary of Delphi LLP. For
the avoidance of doubt, BDWY, a Chinese corporation, is a Subsidiary of Delphi LLP pursuant to its governance structure as in effect on the Issue Date. 

  
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 “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§
77aaa-77bbbb) as in effect on the Issue Date. 
 “Voting Stock” of a Person means all classes of Capital Stock or
other interests (including partnership interests) of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 

Section 1.02. Other Definitions. 
  

			
	 Term
	  	Defined in Section
	 Acceleration Notice
	  	7.02
	 Additional Amounts
	  	5.03
	 Base Indenture
	  	Preamble
	 Calculation Date
	  	3.01
	 Change in Tax Law
	  	3.02
	 Change of Control
	  	5.04
	 Change of Control Offer
	  	5.04
	 Change of Control Triggering Event
	  	5.04
	 Comparable Treasury Issue
	  	3.01
	 Comparable Treasury Price
	  	3.01
	 DTC
	  	2.01
	 Event of Default
	  	7.01
	 Fourth Supplemental Indenture
	  	Preamble
	 Global Note
	  	2.01
	 Indenture
	  	Preamble
	 Independent Investment Banker
	  	3.01
	 Initial Lien
	  	5.01
	 Interest Payment Date
	  	2.01
	 Issuer
	  	Preamble
	 Permitted Liens
	  	5.01
	 Primary Treasury Dealer
	  	3.01
	 Reference Treasury Dealer
	  	3.01
	 Reference Treasury Dealer Quotations
	  	3.01
	 Relevant Jurisdiction
	  	5.03
	 Remaining Life
	  	3.01(d)
	 Successor Guarantor
	  	6.01
	 Tax Redemption Date
	  	3.02
	 Taxes
	  	5.03
	 Treasury Rate
	  	3.01
	 Trigger Period
	  	5.04
	 Trustee
	  	Preamble
	 2046 Notes
	  	Preamble

  
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 ARTICLE 2 

TERMS AND CONDITIONS OF THE NOTES 

Section 2.01. Terms of the Notes. The following terms relating to the 2046 Notes are hereby established: 

(a) Designation, Maturity and Principal Amount. There is hereby authorized a series of Notes designated the “4.400% Senior
Notes due 2046” initially offered in the aggregate principal amount of $300,000,000, which amount shall be as set forth in an Authentication Order for the authentication and delivery of such 2046 Notes pursuant to Section 2.02 of the Base
Indenture. 
 (b) Form of the Notes. The 2046 Notes are to be substantially in the form of Exhibit A hereto.
The 2046 Notes shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plans as the Officer of the Issuer executing the same may determine with the approval of the Trustee. 

(c) Note Guarantees. The 2046 Notes shall have the benefit of the Note Guarantees by the Guarantors executing this Fourth
Supplemental Indenture and future Guarantors pursuant to Section 4.02 hereof. 
 (d) Additional Notes. The Issuer
may, without notice to or the consent of the Holders of the 2046 Notes, issue Additional 2046 Notes having identical terms and conditions as the 2046 Notes, except for the issue date, issue price and first Interest Payment Date, in an unlimited
aggregate principal amount. Any such additional notes will be part of the same series as the 2046 Notes, and will be treated as one class with such series of 2046 Notes, including, without limitation, for purposes of voting and redemptions;
provided, however, that if such Additional 2046 Notes are not fungible with the other 2046 Notes for U.S. federal income tax purposes, such Additional 2046 Notes shall not have the same “ISIN” or “CUSIP” number as
the other 2046 Notes. 
 (e) Principal Payment. The 2046 Notes will mature on October 1, 2046. 

(f) Interest Rate; Interest Payment Date; Computation of Interest. 

(i) The 2046 Notes will bear interest at the rate of 4.400% per annum from the most recent Interest Payment Date (as
defined below) to which interest has been paid or duly provided for or, if no interest has been paid, from the Issue Date (or, in the case of Additional 2046 Notes, from date of issuance thereof) until the principal thereof becomes due and payable.
The amount of interest payable for any period will be computed on the basis of a 360-day year comprised of twelve 30-day months. 

(ii) Interest on the 2046 Notes is payable semi-annually in arrears on April 1 and October 1 of each year (each, an
“Interest Payment Date”), commencing on April 1, 2017 (or such later first Interest Payment Date, in the case of Additional 2046 Notes), to the Person in whose name such 2046 Note is registered, at the close of business on the
Regular Record Date for such interest installment, which shall be the close of business on March 15 or September 15 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date, and at the foregoing
respective rates on overdue principal. In the event that any Interest Payment Date is not a Business Day, then payment of the interest payable on such Interest Payment Date will be made on the next succeeding day which is a Business Day (and without
any interest or other payment in respect of any such delay) with the same force and effect as if made on the Interest Payment Date such payment was originally payable. 

  
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 (g) Place of Payment of Principal and Interest. Section 4.02 of the Base Indenture
shall apply to the 2046 Notes. 
 (h) Optional Redemption. The 2046 Notes shall be redeemable as specified in Article 3 of this
Fourth Supplemental Indenture and Article 3 of the Base Indenture. 
 (i) Mandatory Redemption. Except as set forth in
Section 5.04 hereof, the Issuer shall not be required to make mandatory redemption or sinking fund payments with respect to the 2046 Notes. 

(j) Denominations. The 2046 Notes shall be issuable only in registered form, without coupons, in minimum denominations of $2,000
and integral multiples of $1,000 in excess of thereof. 
 (k) Acceleration. 100% of the principal amount of the 2046
Notes shall be payable upon declaration of acceleration of the Stated Maturity thereof. 
 (l) Currency of the Notes. The 2046
Notes shall be denominated, and payment of principal and interest of the 2046 Notes shall be payable in the currency of the United States of America. 

(m) Currency of Payment. The principal of and interest on the 2046 Notes shall be payable in U.S. dollars. 

(n) Exchange or Conversion. The 2046 Notes shall not be exchangeable for or convertible into the ordinary shares of the Issuer or
any other security. 
 (o) Additional Amounts. The Issuer will pay any additional amounts on the 2046 Notes as set forth
in Section 5.03. 
 (p) Global Form; Definitive Form. The 2046 Notes shall each be issued initially in the form of one
or more permanent Global Notes in registered form, without coupons, substantially in the form herein below recited (each, a “Global Note” and collectively, the “Global Notes”), deposited
with the Registrar, as custodian for the Depositary, duly executed by the Issuer and authenticated by the Authenticating Agent as herein provided. The 2046 Notes may each be issued in definitive form pursuant to the terms of the Base Indenture. The
aggregate principal amount of each Global Note may from time to time be increased or decreased by adjustments made on the records of the Registrar as provided in Section 2.01(b) of the Base Indenture. 

(q) Trustee; Registrar; Paying Agent; Authenticating Agent. Wilmington Trust, National Association shall initially act as
Trustee. Deutsche Bank Trust Company Americas, a New York banking corporation, shall initially act as Registrar, Paying Agent and Authenticating Agent for the 2046 Notes. 

(r) Defeasance. Article 8 of the Base Indenture shall apply to the 2046 Notes. 

(s) Depositary. The Depositary for any 2046 Notes issued as Global Notes shall initially be The Depository Trust Company in The
City of New York (“DTC”) (or any successor to DTC). 
 (t) Events of Default; Covenants.
The Events of Default in Section 6.01 of the Base Indenture and the additional Events of Default set forth in Section 7.01 of this Fourth Supplemental Indenture and the covenants set forth in Article 4 of the Base Indenture and Article 5
of this Fourth Supplemental Indenture shall apply to the 2046 Notes. 

  
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 (u) Additional Terms. Other terms applicable to the 2046 Notes are as otherwise
provided for below. 
 Section 2.02. Execution and Authentication. The 2046 Notes having an aggregate principal amount of
$300,000,000 may, upon execution of this Fourth Supplemental Indenture, be executed by the Issuer and delivered to the Authenticating Agent for authentication, and the Authenticating Agent shall thereupon authenticate and deliver said 2046 Notes,
upon receipt of an Authentication Order, signed by an Officer of the Issuer, without any further action by the Issuer, except as otherwise required by the Base Indenture. 

ARTICLE 3 
 REDEMPTION OF THE NOTES

 Section 3.01. Optional Redemption. 

(a) At any time prior to April 1, 2046, the Issuer may at its option redeem the 2046 Notes, in whole or in part, at a redemption price
equal to the greater of: 
 (i) 100% of the principal amount of the 2046 Notes to be redeemed; and 

(ii) the sum of the present value of (i) the redemption price (100% of the principal amount of the 2046 Notes to be
redeemed) on April 1, 2046 and (ii) all required remaining scheduled interest payments due on the 2046 Notes to be redeemed through April 1, 2046 (not including any portion of such payments of interest accrued and unpaid to the
Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points, 

plus accrued and unpaid interest on the principal amount of the 2046 Notes to be redeemed to, but not including, the
Redemption Date. The Treasury Rate will be calculated on the third Business Day next preceding the Redemption Date (the “Calculation Date”). 

(b) If the 2046 Notes are redeemed at any time on or after April 1, 2046, the 2046 Notes may be redeemed at a redemption price equal to
100% of the principal amount of the 2046 Notes to be redeemed plus accrued and unpaid interest thereon to, but not including, the Redemption Date. 

(c) Notice of any such redemption must be mailed by first-class mail to each Holder’s registered address, or delivered electronically if
held by any depositary in accordance with such depositary’s customary procedures, not less than 15 nor more than 60 days prior to the Redemption Date. 

(d) The following terms have the meanings given to them in this Section 3.01(d): 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment
Banker as having a maturity comparable to the remaining term of the 2046 Notes to be redeemed from the redemption date to April 1, 2046 (“Remaining Life”) that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life of such 2046 Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the
average of all such quotations. 

  
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 “Independent Investment Banker” means one of the Reference
Treasury Dealers as specified by the Issuer, or, if those firms are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Issuer. 

“Reference Treasury Dealer” means each of (1) Citigroup Global Markets Inc., Goldman, Sachs &
Co., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated or their respective successors, provided, however, that if any of the foregoing ceases to be a primary U.S. government securities dealer in the United
States (a “Primary Treasury Dealer”), the Issuer will substitute therefor another Primary Treasury Dealer and (2) any two other Primary Treasury Dealers selected by the Issuer after consultation with an Independent Investment
Banker. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and
any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent
Investment Banker at 5:00 p.m., New York City time, on the Calculation Date. 
 “Treasury Rate” means, with
respect to any Redemption Date for each of the 2046 Notes, (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated
“H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity
under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life (as defined below), yields for the two published
maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or; (2) if such
release (or any successor release) is not published during the week preceding the Calculation Date or does not contain such yields, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated
using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

(e) If the Issuer partially redeems the 2046 Notes, such Notes to be redeemed shall be selected in accordance with the applicable procedures of
the Depositary, although no 2046 Notes less than $2,000 in original principal amount will be redeemed in part. 
 (f) Any redemption of 2046
Notes pursuant to this Section 3.01 shall be conducted in accordance with the applicable procedures set forth in Article 3 of the Base Indenture to the extent not otherwise set forth herein. 

Section 3.02. Tax Redemption. 

(a) The Issuer may redeem the 2046 Notes as a whole but not in part, at its option at any time prior to maturity, upon the giving of a written
notice of redemption to the holders, with a copy to the Trustee, if it determines that, as a result of: 

  
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 (i) any change in or amendment to the laws, or any regulations or rulings
promulgated under the laws, of a Relevant Jurisdiction (as defined in Section 5.03) affecting taxation, or 
 (ii) any
change in or amendment to an official position regarding the application or interpretation of the laws, regulations or rulings referred to above, 

(b) which change or amendment is announced and becomes effective after the Issue Date (or, if the Relevant Jurisdiction becomes a
Relevant Jurisdiction on a date after the Issue Date, after such later date) (each of the foregoing, a “Change in Tax Law”), the Issuer or any Guarantor is or will become obligated to pay Additional Amounts with respect to the 2046
Notes or the Note Guarantees on the next succeeding interest payment date, pursuant to Section 5.03 (but in the case of a Guarantor, only if the payments giving rise to such obligation cannot be made by the Issuer or another Guarantor without
the obligation to pay Additional Amounts) and the payment of such Additional Amounts cannot be avoided by the use of reasonable measures available to the Issuer or the Guarantor. The redemption price will be equal to 100% of the principal amount of
the 2046 Notes plus accrued and unpaid interest to but excluding the date fixed for redemption (a “Tax Redemption Date”), and all Additional Amounts (if any) then due or which will become due on the Tax Redemption Date as a result
of the redemption or otherwise (subject to the right of Holders of the 2046 Notes on any record date occurring prior to the Tax Redemption Date to receive interest due on the relevant interest payment date and Additional Amounts (if any) in respect
thereof). The date and the applicable redemption price will be specified in the notice of tax redemption. Notice of such redemption will be irrevocable, and must be mailed by first-class mail to each Holder’s registered address, or delivered
electronically if held by any depositary in accordance with such depositary’s customary procedures, not less than 15 nor more than 60 days prior to the earliest date on which the Issuer would be obligated to pay such Additional Amounts if a
payment in respect of the 2046 Notes were actually due on such date. No such notice of redemption will be given unless, at the time such notification of redemption is given, such obligation to pay such Additional Amounts remains in effect. 

 (c) Prior to giving the notice of tax redemption, the Issuer will deliver to the Trustee: 

(i) a certificate signed by a duly authorized officer stating that the Issuer is entitled to effect the redemption and setting
forth a statement of facts showing that the conditions precedent to the right of the Issuer to so redeem have occurred; and 

(ii) an opinion of independent tax counsel of recognized standing qualified under the laws of the Relevant Jurisdiction,
selected by the Issuer, to the effect that the Issuer is or would be obligated to pay Additional Amounts as a result of a Change in Tax Law. 

(d) The foregoing provisions shall apply mutatis mutandis to any successor to the Issuer. 

Section 3.03. [Reserved] 

ARTICLE 4 
 NOTE GUARANTEES 

Section 4.01. Note Guarantees. Each Guarantor hereby unconditionally and irrevocably expressly assumes, confirms and agrees to
perform and observe each and any of the covenants, agreements, terms, conditions, obligations, appointments, duties, promises and liabilities of a Guarantor under the Base Indenture with respect to the 2046 Notes as if it were an original signatory
thereto. The Note Guarantee of any Guarantor will be released without any further action required on the part of the Trustee or any holder: (1) upon (i) the sale or other disposition (including by way of consolidation, 

  
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merger, dissolution or otherwise) of the Capital Stock of such Guarantor such that it is no longer a Subsidiary of the Issuer or (ii) the sale or other disposition of all or substantially
all of the assets of such Guarantor; (2) when such Guarantor is no longer an obligor (whether as an issuer or guarantor) on any of Delphi Corporation’s senior notes outstanding on the Issue Date; or (3) upon legal or covenant
defeasance or satisfaction and discharge of the 2046 Notes. 
 Section 4.02. Future Guarantees. (a) If any Domestic
Subsidiary of the Issuer guarantees any of the Existing Notes, each such Subsidiary shall, within 30 days, execute and deliver to the Trustee a supplemental indenture pursuant to which such Domestic Subsidiary will provide a Note Guarantee to the
2046 Notes for so long as such Existing Notes remain outstanding and are guaranteed by such Subsidiary. For the avoidance of doubt, any such Note Guarantee referred to in this Section 4.02(a) shall be automatically released if (1) the
Existing Notes cease to be outstanding or (2) the Existing Notes are no longer guaranteed by the Domestic Subsidiary providing such Note Guarantee. 

(b) The Issuer, at its option, may cause any Subsidiary of the Issuer to become a Guarantor of the 2046 Notes and if such Subsidiary is not
otherwise required under the Indenture to provide a Note Guarantee to the 2046 Notes, the Issuer, at its option, may cause any such Note Guarantee to be released, subject to applicable law. 

ARTICLE 5 
 COVENANTS 

The following covenants will apply to the 2046 Notes in addition to the covenants in Article 4 of the Base Indenture: 

Section 5.01. Limitation on Liens. 

(a) Delphi LLP will not, and will not permit any Restricted Subsidiary to, directly or indirectly, incur or permit to exist any Lien (the
“Initial Lien”) of any nature whatsoever on any Principal Property or Capital Stock of a Restricted Subsidiary, whether owned at the Issue Date or thereafter acquired, which Initial Lien secures any Indebtedness, without effectively
providing that the 2046 Notes shall be secured equally and ratably with (or prior to) the obligations so secured for so long as such obligations are so secured other than the following (“Permitted Liens”): 

(1) Liens securing Indebtedness under Credit Facilities in an aggregate principal amount not to exceed $2,075 million; 

(2) pledges or deposits by such Person under workers’ compensation laws, unemployment insurance laws or similar
legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases, subleases, licenses or sublicenses to which such Person is a party, or deposits to secure public or statutory
obligations of such Person or deposits of cash or United States government bonds to secure surety, stay, customs, replevin or appeal bonds to which such Person is a party, or deposits as security or for the payment of rent, in each case incurred in
the ordinary course of business; 
 (3) Liens imposed by law, such as carriers’, warehousemen’s and
mechanics’, materialman’s, repairman’s, landlord’s, workman’s, supplier’s and other like Liens, in each case for sums not yet due or being contested in good faith by appropriate proceedings or other Liens arising out of
judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; 

  
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 (4) Liens for taxes, assessments or other governmental charges not yet due or
payable or subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings; 
 (5)
Liens in favor of issuers of surety or performance bonds or letters of credit, bank guarantees, bankers’ acceptances or similar credit transactions issued pursuant to the request of and for the account of such Person in the ordinary course of
its business; 
 (6) survey exceptions, encumbrances, easements or reservations of, or rights of others for, licenses,
rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real property or Liens incidental to the conduct of the business of such Person or to the ownership of
its properties which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

(7) Liens securing Indebtedness incurred to finance the construction, purchase or lease of, or repairs, improvements or
additions to, property of such Person; provided, however, that the Lien may not extend to any other property (other than accessions thereto, proceeds and products thereof and property related to the property being financed or through
cross-collateralization of individual financings of equipment provided by the same lender) owned by such Person or any of its Subsidiaries at the time the Lien is incurred, and the Indebtedness (other than any interest thereon) secured by the Lien
may not be incurred more than 270 days after the later of the acquisition, completion of construction, repair, improvement, addition or commencement of full operation of the property subject to the Lien; 

(8) Liens existing on the Issue Date and extensions, renewals, refinancings and replacements of any such Liens (including any
future Liens securing Indebtedness that Delphi LLP designates as a “replacement” of such Liens for purposes of this clause, even if such new Indebtedness is not issued concurrently with the repayment of the indebtedness so secured, the
proceeds thereof are not used to repay such Indebtedness secured by such Liens or such Indebtedness is incurred for different purposes and by a different borrower) so long as the principal amount of Indebtedness (including for this purpose,
revolving commitments under the Credit Agreement as in effect on the Issue Date immediately before the issuance of the 2046 Notes, which shall be deemed to be outstanding for these purposes even if undrawn) or other obligations secured thereby is
not increased (other than to cover premiums, fees, accrued interest and any expenses of such extension, renewal, refinancing or replacement) and so long as such Liens are not extended to any other property of Delphi LLP or any of its Subsidiaries
(other than pursuant to blanket lien or after acquired property clauses existing in the applicable agreements (including any obligation to have new guarantors provide Liens on the same assets owned by it)); 

(9) Liens on property or shares of stock of another Person at the time such other Person becomes a Subsidiary of such
Person; provided, however, that such Liens are not created, incurred or assumed in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided further, however, that such Liens do not
extend to any other property owned by such Person or any of its Subsidiaries, except proceeds and products thereof and improvements thereon or pursuant to after acquired property clauses existing in the applicable agreements at the time such Person
becomes a Subsidiary which do not extend to property transferred to such Person by Delphi LLP or a Restricted Subsidiary; 

  
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 (10) Liens on property at the time such Person or any of its Subsidiaries
acquires the property, including any acquisition by means of a merger or consolidation with or into such Person or any Subsidiary of such Person; provided, however, that such Liens are not created, incurred or assumed in connection
with, or in contemplation of, such acquisition; provided further, however, that the Liens do not extend to any other property owned by such Person or any of its Subsidiaries other than proceeds or products thereof and accessions thereto;

 (11) Liens securing Indebtedness or other obligations of Delphi LLP or a Subsidiary owing to Delphi LLP or a
Subsidiary of Delphi LLP; 
 (12) Liens to secure any Refinancing (or successive Refinancings) as a whole, or in part,
of any Indebtedness secured by any Lien referred to in the foregoing clauses (7), (9) and (10); provided, however, that: 

(A) such new Lien shall be limited to all or part of the same property that secured the original Lien (plus improvements,
accessions, proceeds, dividends or distributions in respect thereof) and 
 (B) the Indebtedness secured by such Lien at such
time is not increased to any amount greater than the sum of: 
 (i) the outstanding principal amount or, if greater,
committed amount of the indebtedness secured by Liens described under clauses (7), (9) or (10) at the time the original Lien became a Permitted Lien under the Indenture; and 

(ii) an amount necessary to pay any fees and expenses, including premiums, related to such Refinancings; 

(13) judgment Liens not giving rise to an Event of Default; 

(14) Liens securing Indebtedness consisting of (A) the financing of insurance premiums with the providers of such
insurance or their affiliates and (B) take-or-pay obligations contained in supply arrangements in the ordinary course of business; and 

(15) other Liens to secure Indebtedness as long as the amount of outstanding Indebtedness secured by Liens incurred
pursuant to this clause (15), when aggregated with the amount of Attributable Debt outstanding and incurred in reliance on Section 5.02(e), does not exceed 15.0% of Consolidated Total Assets at the time any such Lien is granted;
provided, however, notwithstanding whether this clause (15) would otherwise be available to secure Indebtedness, Liens securing Indebtedness originally secured pursuant to this clause (15) may secure Refinancing Indebtedness
in respect of such Indebtedness and such Refinancing Indebtedness shall be deemed to have been secured pursuant to this clause (15). 

(b) Any Lien created for the benefit of the Holders of the 2046 Notes pursuant to Section 5.01(a) shall provide by its terms that such
Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Initial Lien. 
 (c) For
purposes of determining compliance with this Section 5.01, (A) a Lien securing an item of Indebtedness need not be permitted solely by reference to one category of permitted Liens described in the definition of “Permitted Liens”
but may be permitted in part under any combination thereof and (B) in the event that a Lien securing an item of Indebtedness (or any portion thereof) meets 

  
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the criteria of one or more of the categories of permitted Liens described in the definition of “Permitted Liens,” Delphi LLP shall, in its sole discretion, classify or reclassify, or
later divide, classify or reclassify, such Lien securing such item of Indebtedness (or any portion thereof) in any manner that complies with this covenant and will only be required to include the amount and type of such Lien or such item of
Indebtedness secured by such Lien in one of the clauses of the definition of “Permitted Liens” and such Lien securing such item of Indebtedness will be treated as being incurred or existing pursuant to only one of such clauses. 

Section 5.02. Limitation on Sale/Leaseback Transactions. Delphi LLP will not, and will not permit any Restricted Subsidiary to,
enter into any Sale and Leaseback Transaction with respect to any Principal Property unless: 
 (a) the Sale and Leaseback Transaction is
solely with Delphi LLP or a Subsidiary of Delphi LLP; 
 (b) the lease is for a period not in excess of 24 months, including renewals; 

(c) Delphi LLP or such Restricted Subsidiary would (at the time of entering into such arrangement) be entitled as described in clauses
(1) through (14) of the definition of “Permitted Liens,” without equally and ratably securing the 2046 Notes then outstanding under the Indenture, to create, incur, issue, assume or guarantee Indebtedness secured by a Lien on
such property in the amount of the Attributable Debt arising from such Sale and Leaseback Transaction; 
 (d) Delphi LLP or such Restricted
Subsidiary within 360 days after the sale of such Principal Property in connection with such Sale and Leaseback Transaction is completed, applies an amount equal to the net proceeds of the sale of such Principal Property to (i) the permanent
retirement of 2046 Notes, other Indebtedness of the Issuer ranking on a parity with the 2046 Notes or Indebtedness of Delphi LLP or a Subsidiary of Delphi LLP or (ii) the purchase of property; or 

(e) the Attributable Debt of Delphi LLP and its Restricted Subsidiaries in respect of such Sale and Leaseback Transaction and all other Sale
and Leaseback Transactions entered into after the Issue Date with respect to Principal Property (other than any such Sale and Leaseback Transaction as would be permitted as described in clauses (a) through (d) above), plus the aggregate
principal amount of Indebtedness secured by Liens on Principal Properties then outstanding (not including any such Indebtedness secured by Liens described in clauses (1) through (14) of the definition of “Permitted Liens”) which
do not equally and ratably secure such outstanding 2046 Notes (or secure such outstanding 2046 Notes on a basis that is prior to other Indebtedness secured thereby), would not exceed 15% of Consolidated Total Assets. 

Section 5.03. Payments of Additional Amounts. 

(a) Payments made by the Issuer, a Guarantor or a Paying Agent, as applicable, on the 2046 Notes or in respect of a Note Guarantee will be made
free and clear of, and without withholding or deduction for or on account of, any present or future income, stamp or other tax, duty, levy, impost, assessment or other governmental charge of any nature whatsoever (“Taxes”), unless
the Issuer, a Guarantor or a Paying Agent is required to withhold or deduct Taxes by law. 
 (b) If any withholding or deduction for or on
account of Taxes imposed or levied by or on behalf of the United States, the United Kingdom, Jersey, any other jurisdiction in which the Issuer or any Guarantor is incorporated, organized, engaged in business or otherwise resident for tax purposes,
or any other jurisdiction from or through which such payment is made, or in each case any political subdivision 

  
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or taxing authority or agency thereof or therein (each, a “Relevant Jurisdiction”) is at any time required by law to be made from any payment made with respect to the 2046 Notes
or the Note Guarantee, the Issuer or the applicable Guarantor, as applicable, will pay such additional amounts (“Additional Amounts”) on the 2046 Notes or in respect of the applicable Note Guarantee as may be necessary so that the
net amount received by each holder of the 2046 Notes (including Additional Amounts) after such withholding or deduction will not be less than the amount the holder would have received if such Taxes had not been withheld or deducted; provided that no
Additional Amounts will be payable with respect to Taxes: 
  

	 	(i)	that would not have been imposed but for the Holder or the beneficial owner of such Note (or a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if
such Holder or beneficial owner is an estate, trust, partnership or corporation) being considered as having a present or former connection with a Relevant Jurisdiction (other than a connection arising solely as a result of the acquisition, ownership
or disposition of the 2046 Notes, the receipt of any payment under or with respect to the 2046 Notes or any Note Guarantee, or the exercise or enforcement of any rights under or with respect to the 2046 Notes, the Indenture or any Note Guarantee),
including, without limitation, such Holder or beneficial owner (or such fiduciary, settlor, beneficiary, member, shareholder or possessor) being or having been a citizen or resident thereof or treated as a resident thereof or domiciled therein or a
national thereof or being or having been engaged in a trade or business therein or having or having had a permanent establishment therein; 

  

	 	(ii)	that would not have been imposed but for the failure of the Holder or any other person to comply with certification, identification or information reporting requirements concerning the nationality, residence, identity
or connection with the Relevant Jurisdiction of the Holder or beneficial owner, if compliance is required by statute, by regulation of the Relevant Jurisdiction by an applicable income tax treaty to which the Relevant Jurisdiction is a party as a
precondition to exemption from such Tax; 

  

	 	(iii)	payable other than by withholding from payments of principal of or interest on the 2046 Notes or from payments in respect of a Note Guarantee; 

 

	 	(iv)	that would not have been imposed but for a change in law, regulation or administrative or judicial interpretation that becomes effective more than 15 days after the payment becomes due or is duly provided for, whichever
occurs later; 

  

	 	(v)	that are estate, inheritance, gift, sales, excise, transfer, wealth, capital gains or personal property or similar Taxes; 

  

	 	(vi)	that are imposed on a payment to an individual and that is required to be made pursuant to, or to any law implementing or complying with, or introduced in order to conform to, any European Union Directive on the
taxation of savings; 

  

	 	(vii)	required to be withheld by any Paying Agent from any payment of principal of or interest on any 2046 Note, if such payment can be made without such withholding by at least one other Paying Agent; 

 

	 	(viii)	that would not have been imposed but for the presentation by the holder of any 2046 Note, where presentation is required, for payment on a date more than 30 days after the date on which such payment became due and
payable or the date on which payment thereof was duly provided for, whichever occurred later (except to the extent that the holder would have been entitled to Additional Amounts had the 2046 Note been presented on the last day of such 30-day
period); 

  
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	 	(ix)	that are U.S. federal income Taxes imposed by reason of the Holder or beneficial owner of the 2046 Notes (i) being considered as (a) being or having been a controlled foreign corporation for U.S. federal
income tax purposes or a corporation that has accumulated earnings to avoid U.S. federal income tax; (b) being or having been a “10-percent shareholder” of the Issuer as defined in section 871(h)(3) of the Code (or any amended or
successor provision); or (c) being or having been a bank receiving payments on an extension of credit made pursuant to a loan agreement entered into in the ordinary course of its trade or business or (ii) failing to provide an applicable
IRS Form W-8 certifying as to such person’s non-U.S. status; 

  

	 	(x)	that are imposed under Sections 1471 through 1474 of the Code as of the Issue Date (or any amended or successor provision that is substantively comparable), any current or future regulations or official interpretations
thereof, any agreement entered into pursuant to Section 1471(b) of the Code as of the Issue Date (or any amended or successor provision that is substantively comparable) or any fiscal or regulatory legislation, rules or practices adopted
pursuant to any intergovernmental agreement entered into in connection with the implementation of such sections of the Code; or 

  

	 	(xi)	in the case of any combination of clauses (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix) and (x); 

nor shall Additional Amounts be paid with respect to any payment of the principal of or interest, if any, on any 2046 Note or any payment in
respect of a Note Guarantee to any such holder who is a fiduciary or a partnership or a beneficial owner that is not the sole beneficial owner of such payment to the extent a beneficiary or settlor with respect to such fiduciary or a member of such
partnership or a beneficial owner would not have been entitled to such Additional Amounts had it been the holder of the 2046 Note. 
 (c) The
Issuer, a Guarantor or the Paying Agent, as applicable, will (i) make any required withholding or deduction, and (ii) remit the full amount deducted or withheld by it to the Relevant Jurisdiction in accordance with applicable law. 

(d) All references in this Indenture, other than in Section 2.01(s) of this Fourth Supplemental Indenture and Sections 8.02, 8.03 and 8.06
of the Base Indenture, to the payment of the principal or interest, if any, on or the net proceeds received on the sale or exchange of, any 2046 Notes or any payment made under the Note Guarantee shall be deemed to include Additional Amounts to the
extent that, in that context, Additional Amounts are, were or would be payable. 
 (e) In addition, the Issuer shall pay any present or
future stamp, issue, registration, court, documentary, excise, property, or similar Taxes (i) imposed by any Relevant Jurisdiction in respect of the execution, issuance, delivery, or registration of the 2046 Notes, any Note Guarantee, the
Indenture, or any other document or instrument referred to therein, or the receipt of any payments with respect to the 2046 Notes, or (ii) imposed by any jurisdiction in respect of the enforcement of the 2046 Notes, any Note Guarantee, the
Indenture, or any other document or instrument referred to therein. 
 (f) The Issuer’s and a Guarantor’s obligations to pay
Additional Amounts if and when due will survive the termination of the Indenture and the payment of all other amounts in respect of the 2046 Notes and shall apply mutatis mutandis to any successor of the Issuer or any Guarantor, and to any
jurisdiction in which such successor is incorporated, organized, engaged in business or otherwise resident for tax purposes, and any political subdivision or governmental authority thereof or therein. 

  
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 Section 5.04. Change of Control Triggering Event. Upon the occurrence of a Change of
Control Triggering Event, each Holder of 2046 Notes will have the right to require the Issuer to purchase all or any part of such Holder’s 2046 Notes at a purchase price in cash equal to 101% of the principal amount thereof plus accrued and
unpaid interest to the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date). 

“Change of Control” means the occurrence of any of the following: 

(1) any transaction occurs (including a merger or consolidation of the Issuer) following which any “person” (as such
term is used in Sections 13(d) and 14(d) of the Exchange Act) is the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Issuer;
or 
 (2) sale, lease or transfer (for the avoidance of doubt, other than a transfer to the Issuer or one of its
Subsidiaries), in one or a series of related transactions, of all or substantially all the assets of the Issuer and its Subsidiaries, taken as a whole, to a Person in which any person (as defined above) holds or acquires beneficial ownership (within
the meaning of Rule 13d-3 under the Exchange Act) of 50% or more of the total voting power of the Voting Stock of such transferee Person. 

“Change of Control Triggering Event” means (1) the ratings of the 2046 Notes are downgraded by each of the
Ratings Agencies during the 60-day period (the “Trigger Period”) commencing on the earlier of (i) the occurrence of a Change of Control or (ii) the first public announcement of the occurrence of a Change of Control or the
Issuer’s intention to effect a Change of Control (which Trigger Period will be extended so long as the ratings of the 2046 Notes are under publicly announced consideration for possible downgrade by any of the Ratings Agencies) and (2) the
2046 Notes are rated below an Investment Grade Rating by each of the Ratings Agencies on any date during the Trigger Period; provided that (x) a Change of Control Triggering Event will not be deemed to have occurred in
respect of a particular Change of Control if each Ratings Agency does not publicly announce or confirm or inform the Trustee in writing at the Issuer’s request that the reduction was the result of the Change of Control (whether or not the
applicable Change of Control has occurred at the time of the Change of Control Triggering Event) and (y) the Trigger Period will terminate with respect to each Ratings Agency when such Ratings Agency takes action (including affirming its
existing ratings) with respect to such Change of Control. Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of
Control has actually been consummated. 
 Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of
Control if (1) the Issuer becomes a direct or indirect Subsidiary of a holding company and (2) no person (as defined above) (other than a holding company) owns, directly or indirectly, a majority of the voting power of the Equity Interests
of such holding company. 
 Within 30 days following any Change of Control Triggering Event, the Issuer shall (unless prior to such
date such Change of Control Triggering Event ceases to exist) deliver by mail or electronic means a notice to each Holder with a copy to the Trustee (the “Change of Control Offer”), stating: 

(1) that a Change of Control Triggering Event has occurred and that such Holder has the right to require the Issuer to purchase
all or a portion of such Holder’s 2046 Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest to the date of purchase (subject to the right of Holders of record on the relevant record
date to receive interest on the relevant interest payment date); 

  
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 (2) the circumstances and relevant facts and financial information regarding such
Change of Control Triggering Event; 
 (3) the purchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is delivered); and 
 (4) the instructions determined by the Issuer, consistent with this covenant,
that a Holder must follow in order to have its 2046 Notes purchased. 
 The Issuer will not be required to make a Change of Control Offer
upon a Change of Control Triggering Event if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 5.04 and purchases all 2046 Notes validly
tendered and not withdrawn under such Change of Control Offer. In addition, the Issuer will not be required to make a Change of Control Offer upon a Change of Control Triggering Event if the 2046 Notes have been or are called for redemption by the
Issuer prior to it being required to deliver notice of the Change of Control Offer, and thereafter redeems all 2046 Notes called for redemption in accordance with the terms set forth in such redemption notice. Notwithstanding anything to the
contrary contained herein, a revocable Change of Control Offer may be made in advance of a Change of Control Triggering Event, conditioned upon the consummation of the relevant Change of Control, if a definitive agreement is in place for such Change
of Control at the time the Change of Control Offer is made. 
 The Issuer will comply, to the extent applicable, with the requirements of
Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the purchase of 2046 Notes pursuant to this Section 5.04. To the extent that the provisions of any securities laws or regulations conflict
with provisions of this Section 5.04, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 5.04 by virtue thereof. 

Notwithstanding any provisions in the Base Indenture to the contrary, but subject to Section 6.07 of the Base Indenture, the
Issuer’s obligations to make a Change of Control Offer as a result of a Change of Control Triggering Event with respect to the 2046 Notes may be waived or modified with the written consent of the Holders of a majority in principal amount of the
then outstanding 2046 Notes. 
 ARTICLE 6 

CONSOLIDATION, MERGER AND SALE OF ASSETS 

Section 6.01. Consolidation, Merger and Sale of Assets of Guarantors. (a) Delphi LLP will not and will not permit any other
Guarantor to, directly or indirectly, consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its assets in one or a series of related transactions to, any Person unless: 

(1)(A) the resulting, surviving or transferee Person (the “Successor Guarantor”) will be a corporation,
limited liability partnership, limited liability company, limited company, or other similar organization (and in the case of any such transaction involving Delphi LLP, such Successor Guarantor shall be organized under the laws of the jurisdiction of
organization of the United States of America (or any state thereof or the District of Columbia), the United Kingdom, Jersey and any other jurisdiction in the Channel Islands, any member state of the European Union as in effect on the Issue Date,
Switzerland, Bermuda, The Cayman Islands or Singapore), and such Person (if not such Guarantor) will expressly assume, by a supplemental indenture, executed and delivered to the Trustee, all the obligations of such Guarantor under its Note
Guarantee; 

  
 -19- 

 (B) immediately after giving effect to such transaction, no Default shall have
occurred and be continuing; and 
 (C) the Issuer will have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with the Indenture; or 

(2) such Guarantor will be released from its Note Guarantee in connection therewith as provided in the Indenture. 

(b) Notwithstanding Section 5.02 of the Base Indenture or clause (a) of this Section 6.01: 

(A) any Subsidiary of Delphi LLP may consolidate with, merge into or transfer all or part of its properties and assets to the
Issuer, any Guarantor or any Subsidiary of Delphi LLP; and 
 (B) the Issuer and any Guarantor may merge with an Affiliate
organized solely for the purpose of reorganizing the Issuer or such Guarantor in another jurisdiction. 
 ARTICLE 7 

EVENTS OF DEFAULT 

Section 7.01. Events of Default. In addition to the Events of Default set forth in Section 6.01 of the Base Indenture, the
following is an “Event of Default” with respect to the 2046 Notes: 
 (1) the failure by the Issuer or any Note
Guarantor to comply with its obligations under Section 6.01 of this Fourth Supplemental Indenture in respect of the 2046 Notes; 

(2) the failure by the Issuer or any Restricted Subsidiary to comply for 60 days after notice with any of its obligations under
Section 5.04 of this Fourth Supplemental Indenture in respect of the 2046 Notes (in each case, other than a failure to purchase 2046 Notes); and 

(3) any Note Guarantee of Delphi LLP or any Significant Subsidiary (or group of Subsidiaries that together would constitute a
Significant Subsidiary) ceases to be in full force and effect in all material respects (except as contemplated by the terms thereof) or any Guarantor denies or disaffirms such Guarantor’s obligations under the Indenture or any Note Guarantee of
the 2046 Notes and such Default continues for 10 days after receipt of the notice as specified in the Indenture. 
 However, a default under
clauses (2) or (3) will not constitute an Event of Default with respect to any 2046 Notes until the Trustee notifies the Issuer, or the Holders of at least 25% in principal amount of the outstanding 2046 Notes and notes of all series
affected thereby notify the Issuer and the Trustee, of the default and the Issuer or the Guarantor, as applicable, does not cure such default within the time specified in clauses (2) or (3) hereof after receipt of such notice. 

Section 7.02. Limitations on Suits. With respect to the 2046 Notes, the first sentence of Section 6.06 of the Base Indenture
shall be amended by deleting the “A” at the beginning of the sentence and replacing it with the following: “Except to enforce the right to receive payment of principal, premium (if any) or interest when due, a”. 

  
 -20- 

 ARTICLE 8 

AMENDMENTS AND WAIVERS 

Section 8.01. Without Consent of Holder. In addition to the provisions of Section 9.01 of the Base Indenture, the Issuer, the
Guarantors and the Trustee may, as applicable, amend or supplement this Fourth Supplemental Indenture, the Note Guarantees or the 2046 Notes, without the consent of any Holder of a Note of such series to: 

(a) convey, transfer, assign, mortgage or pledge as security for the 2046 Notes any property or assets in accordance with Section 5.01 of
this Fourth Supplemental Indenture and confirm or evidence any release thereof permitted by the Indenture. 
 ARTICLE 9 

MISCELLANEOUS 
 Section 9.01.
Ratification of Base Indenture. The Base Indenture, as supplemented by this Fourth Supplemental Indenture, is in all respects ratified and confirmed, and this Fourth Supplemental Indenture shall be deemed part of the Indenture in the manner
and to the extent herein and therein provided. 
 Section 9.02. Governing Law. This Fourth Supplemental Indenture and the 2046
Notes shall be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of laws. 

Section 9.03. Separability. In case any one or more of the provisions contained in this Fourth Supplemental Indenture or in the
2046 Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Fourth Supplemental Indenture or of the 2046 Notes, but
this Fourth Supplemental Indenture and the 2046 Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 

Section 9.04. Counterparts. This Fourth Supplemental Indenture may be executed in any number of counterparts each of which shall
be an original; but such counterparts shall together constitute but one and the same instrument. 
 [Signature Pages Follow] 

  
 -21- 

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

			
	 ISSUER:
  

	 DELPHI AUTOMOTIVE PLC
  

	By:	 	 /s/ Bradley A. Spiegel

		 	Name: Bradley A. Spiegel
		 	Title: Vice President, Business Planning & Finance Operations
	  
 GUARANTORS:

 

	 DELPHI CORPORATION
  

	By:	 	 /s/ Bradley A. Spiegel

		 	Name: Bradley A. Spiegel
		 	Title: Vice President, Business Planning & Finance Operations
	  
 DELPHI AUTOMOTIVE LLP

 

	By:	 	 /s/ Bradley A. Spiegel

		 	Name: Bradley A. Spiegel
		 	Title: Authorized Representative
	  
 DELPHI AUTOMOTIVE HOLDINGS US LIMITED

 

	By:	 	 /s/ Bradley A. Spiegel

		 	Name: Bradley A. Spiegel
		 	Title: Authorized Representative

  
 -22- 

 
			
	TRUSTEE:
	  
 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee

 

	By:	 	 /s/ Boris Treyger

		 	Name: Boris Treyger
		 	Title: Vice President

  
 -23- 

 
			
	 REGISTRAR, PAYING AGENT AND AUTHENTICATING AGENT:

 

	 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Registrar, Paying Agent, and Authenticating Agent

 

	By:	 	Deutsche Bank National Trust Company
		
	By:	 	 /s/ Irina Golovashchuk

		 	Name: Irina Golovashchuk
		 	Title: Vice President
		
	By:	 	 /s/ Jeffrey Schoenfeld

		 	Name: Jeffrey Schoenfeld
		 	Title: Vice President

  
 -24- 

 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 [Global
Note Legend] 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS 2046 NOTE) OR ITS NOMINEE. THIS
GLOBAL NOTE IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITARY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

  
 B-1 

 CUSIP: 24713G AD4 

ISIN: US24713GAD43 
 GLOBAL NOTE 

4.400% Senior Notes due 2046 
  

					
	No. ___	  	 	$[            ]	  

 DELPHI AUTOMOTIVE PLC 

promises to pay to Cede & Co., or registered assigns, 

the principal sum of             U.S. DOLLARS on October 1, 2046, as such amount may be
changed from time to time pursuant to the Schedule of Exchanges of Interests attached hereto. 
 Interest Payment Dates: April 1 and October 1

 Record Dates: March 15 and September 15 

  
 B-2 

 
			
	 DELPHI AUTOMOTIVE PLC
  

	By:	 	  

	Name:	 	
	Title:	 	

  
 B-3 

			
	 This is one of the 2046 Notes referred to in the

within-mentioned Fourth Supplemental Indenture:
  

	 DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Authenticating Agent
  

	By:	 	Deutsche Bank National Trust Company
		
	By:	 	  

		 	Name:
		 	Title:
	  
 Dated:
            , 20     

		 	

  
 B-4 

 [Form of reverse side of 2046 Note] 

4.400% Senior Note due 2046 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1. INTEREST. Delphi Automotive PLC (the “Issuer”) promises to pay interest on the principal amount of
this 2046 Note at a rate per annum of 4.400% from September 20, 2016 until maturity or pursuant to Section 7.02 of the Fourth Supplemental Indenture. The Issuer will pay interest on this 2046 Note semi-annually in arrears on
April 1 and October 1 of each year, commencing on April 1, 2017, or, if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). The Issuer will make each
interest payment to the Holder of record of this 2046 Note on the immediately preceding March 15 or September 15 (the “Regular Record Date”), as the case may be. Interest on this 2046 Note will accrue from the most
recent date to which interest has been paid or, if no interest has been paid, from and including September 20, 2016. The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal
and premium, if any, from time to time on demand at the rate borne by this 2046 Note; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any
applicable grace periods) from time to time on demand at the rate borne by this 2046 Note. Interest will be computed on the basis of a 360-day year comprise of twelve 30-day months. 

2. METHOD OF PAYMENT. The Issuer will pay interest on this 2046 Note to the Person who is the registered Holder of this 2046 Note at the close
of business on the Record Date (whether or not a Business Day) next preceding the Interest Payment Date, even if this 2046 Note is cancelled after such record date and on or before such Interest Payment Date, except as provided in
Section 2.13 of the Base Indenture with respect to defaulted interest. Payment of interest may be made by check mailed to the Holders at their addresses set forth in the Note Register of Holders, provided that (a) all
payments of principal, premium, if any, and interest on, 2046 Notes represented by Global Notes registered in the name of or held by the DTC or its nominee will be made by wire transfer of immediately available funds to the accounts specified by the
Holder or Holders thereof and (b) all payments of principal, premium, if any, and interest with respect to Certificated Notes will be made by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if
such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the
Trustee or the Paying Agent may accept in its discretion). Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debt. 

3. AUTHENTICATING AGENT, PAYING AGENT AND REGISTRAR. Initially, Deutsche Bank Trust Company Americas will act as Authenticating Agent, Paying
Agent and Registrar. The Issuer may change any Authenticating Agent, Paying Agent or Registrar without notice to the Holders. Delphi LLP or any of its Subsidiaries may act in any such capacity. 

4. INDENTURE. The Issuer issued the 2046 Notes under the Senior Indenture (the “Base Indenture”), dated as of
March 10, 2015, among the Issuer, the Guarantors party thereto, Wilmington Trust, National Association, as trustee (the “Trustee”) and Deutsche Bank Trust Company Americas, a New York banking corporation, as Registrar,
Paying Agent and Authenticating Agent. The Issuer shall be entitled to issue Additional 2046 Notes pursuant to the Base Indenture. The terms of the 2046 Notes include those stated in the Base Indenture and those made part of the Base Indenture by
reference to the 

  
 B-5 

 
fourth supplemental indenture, among the Issuer, the Guarantors party thereto, the Trustee and the Registrar and Paying Agent, dated as of September 20, 2016 (the “Fourth
Supplemental Indenture” and together with the Base Indenture, the “Indenture”), setting forth the additional terms of the 2046 Notes pursuant to Section 2.03 of the Base Indenture and the provisions
of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). The 2046 Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of such terms. To
the extent any provision of this 2046 Note conflicts with the express provisions of the Indenture and those other provisions forming a part thereof with respect to the 2046 Notes, the provisions of the Indenture and such other provisions with
respect to the 2046 Notes shall govern and be controlling. 
 5. OPTIONAL REDEMPTION. At any time prior to April 1, 2046, the Issuer
may at its option redeem the 2046 Notes, in whole or in part, at a redemption price equal to the greater of: 
 (i) 100% of
the principal amount of the 2046 Notes to be redeemed; and 
 (ii) the sum of the present value of (i) the redemption
price (100% of the principal amount of the 2046 Notes to be redeemed) on April 1, 2046 and (ii) all required remaining scheduled interest payments due on the 2046 Notes to be redeemed through April 1, 2046 (not including any portion
of such payments of interest accrued and unpaid to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points. 

plus accrued and unpaid interest on the principal amount of the 2046 Notes to be redeemed to, but not including, the Redemption Date.
The Treasury Rate will be calculated on the Calculation Date. 
 If the 2046 Notes are redeemed at any time on or after April 1, 2046,
the 2046 Notes may be redeemed at a redemption price equal to 100% of the principal amount of the 2046 Notes to be redeemed plus accrued and unpaid interest thereon to, but not including, the Redemption Date. 

Notice of such redemption must be mailed by first-class mail to each Holder’s registered address, or delivered electronically if held by
any depositary in accordance with such depositary’s customary procedures, not less than 15 nor more than 60 days prior to the redemption date. If the Issuer partially redeems the 2046 Notes, the Registrar and Paying Agent, subject to the
procedures of The Depository Trust Company, will select the 2046 Notes to be redeemed on a pro rata basis, by lot or by such other method in accordance with the procedures of The Depository Trust Company, although no 2046 Note less than $2,000 in
original principal amount will be redeemed in part. If the Issuer redeems any 2046 Note in part only, the notice of redemption relating to such 2046 Note shall state the portion of the principal amount thereof to be redeemed. A new 2046 Note in
principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original 2046 Note. On and after the redemption date, interest will cease to accrue on 2046 Notes or portions of such
2046 Notes called for redemption so long as the Issuer has deposited with the Registrar and Paying Agent funds sufficient to pay the principal of the 2046 Notes to be redeemed, plus accrued and unpaid interest thereon. Any notice of redemption may
be conditioned on the satisfaction of one or more conditions precedent. 
 6. TAX REDEMPTION. The Issuer may redeem the 2046 Notes as a
whole but not in part, at its option at any time prior to maturity, upon the giving of a written notice of redemption to the holders, with a copy to the Trustee, if it determines that, as a result of: 

(i) any change in or amendment to the laws, or any regulations or rulings promulgated under the laws, of a Relevant
Jurisdiction affecting taxation, or 

  
 B-6 

 (ii) any change in or amendment to an official position regarding the application
or interpretation of the laws, regulations or rulings referred to above, which change or amendment is announced and becomes effective after the Issue Date (or, if the Relevant Jurisdiction becomes a Relevant Jurisdiction on a date after the Issue
Date, after such later date) (each of the foregoing, a “Change in Tax Law”), the Issuer or any Guarantor is or will become obligated to pay Additional Amounts with respect to the 2046 Notes or the Note Guarantees on the next
succeeding interest payment date, pursuant to Section 5.03 (but in the case of a Guarantor, only if the payments giving rise to such obligation cannot be made by the Issuer or another Guarantor without the obligation to pay Additional
Amounts) and the payment of such Additional Amounts cannot be avoided by the use of reasonable measures available to the Issuer or the Guarantor. The redemption price will be equal to 100% of the principal amount of the 2046 Notes plus accrued and
unpaid interest to but excluding the date fixed for redemption (a “Tax Redemption Date”), and all Additional Amounts (if any) then due or which will become due on the Tax Redemption Date as a result of the redemption or
otherwise (subject to the right of Holders of the 2046 Notes on any record date occurring prior to the Tax Redemption Date to receive interest due on the relevant interest payment date and Additional Amounts (if any) in respect thereof). The date
and the applicable redemption price will be specified in the notice of tax redemption. Notice of such redemption will be irrevocable, and must be mailed by first-class mail to each Holder’s registered address, or delivered electronically if
held by any depositary in accordance with such depositary’s customary procedures, not less than 15 nor more than 60 days prior to the earliest date on which the Issuer would be obligated to pay such Additional Amounts if a payment in respect of
the 2046 Notes were actually due on such date. No such notice of redemption will be given unless, at the time such notification of redemption is given, such obligation to pay such Additional Amounts remains in effect. 

Prior to giving the notice of tax redemption, the Issuer will deliver to the Trustee: 

(i) a certificate signed by a duly authorized officer stating that the Issuer is entitled to effect the redemption and setting
forth a statement of facts showing that the conditions precedent to the right of the Issuer to so redeem have occurred; and 

(ii) an opinion of independent tax counsel of recognized standing qualified under the laws of the Relevant Jurisdiction,
selected by the Issuer, to the effect that the Issuer is or would be obligated to pay Additional Amounts as a result of a Change in Tax Law. 

The foregoing provisions shall apply mutatis mutandis to any successor to the Issuer. 

7. MANDATORY REDEMPTION. Except as set forth in Section 5.04 of the Fourth Supplemental Indenture, the Issuer shall not be
required to make mandatory redemption or sinking fund payments with respect to the 2046 Notes. 
 8. NOTICE OF REDEMPTION. At least 15 days
but not more than 60 days before a Redemption Date, the Issuer shall mail or cause to be mailed, by first class mail to each Holder’s registered address, or deliver electronically if held by any depositary in accordance with such
depositary’s customary procedures, a notice of redemption to each Holder whose 2046 Notes are to be redeemed. Any redemption and notice thereof may, in the Issuer’s discretion, be subject to the satisfaction of one or more conditions
precedent. 
 9. OFFERS TO REPURCHASE. Upon the occurrence of a Change of Control Triggering Event, the Issuer shall make a Change of
Control Offer in accordance with Section 5.04 of the Fourth Supplemental Indenture. 

  
 B-7 

 10. DENOMINATIONS, TRANSFER, EXCHANGE. The 2046 Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of 2046 Notes may be registered and 2046 Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents and the Issuer may require Holders to pay any transfer tax or other similar governmental charge payable in connection with such transfer and exchange that are required by law or
permitted by the Indenture. The Registrar shall not be required to register the transfer of or exchange of (a) any 2046 Note selected for redemption in whole or in part pursuant to Article 3 of the Base Indenture, except the unredeemed portion
of any such 2046 Note being redeemed in part, or (b) any such 2046 Note for a period beginning 15 days before the mailing of a notice of an offer to repurchase or redeem such 2046 Notes or 15 days before an Interest Payment Date (whether or not
an Interest Payment Date or other date determined for the payment of interest), and ending on such mailing date or Interest Payment Date, as the case may be. 

11. PERSONS DEEMED OWNERS. The registered Holder of this 2046 Note may be treated as its owner for all purposes. 

12. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Note Guarantees to the 2046 Notes or the 2046 Notes may be amended or supplemented as
provided in the Indenture. 
 13. DEFAULTS AND REMEDIES. The Events of Default relating to the 2046 Notes are defined in
Section 6.01 of the Base Indenture, as supplemented by Section 7.01 of the Fourth Supplemental Indenture. If any Event of Default (other than an Event of Default arising from certain events of bankruptcy or insolvency) occurs
and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding 2046 Notes and all other notes issued under the Indenture affected thereby (all such series voting as a single class) may declare the principal
of and accrued but unpaid interest on all the 2046 Notes to be due and payable immediately by notice in writing to the Issuer and the Trustee (if given by the Holders) specifying the respective Event of Default and that it is a “notice of
acceleration”, and the same shall become immediately due and payable. If an Event of Default arising from certain events of bankruptcy or insolvency occurs and is continuing, then all unpaid principal of, and premium, if any, and accrued and
unpaid interest on all the outstanding 2046 Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Holders may not enforce the Indenture, the 2046 Notes or the
Note Guarantees to the 2046 Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding 2046 Notes and all other notes of all series affected thereby may
direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding
notice is in their interest. The Holders of a majority in aggregate principal amount of the then outstanding 2046 Notes and all other notes issued under the Indenture affected thereby (all such series voting as a single class) by written notice to
the Trustee may on behalf of the Holders of all of the 2046 Notes waive any existing Default and its consequences under the Indenture with respect to the 2046 Notes except a continuing Default in payment of the principal of, premium, if any, or
interest on, any of the 2046 Notes held by a non-consenting Holder. The Issuer is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Issuer is required within 30 Business Days after becoming
aware of any Default with respect to the 2046 Notes, to deliver to the Trustee a statement specifying such Default and what action the Issuer proposes to take with respect thereto. 

  
 B-8 

 14. AUTHENTICATION. This 2046 Note shall not be entitled to any benefit under the Indenture or be
valid or obligatory for any purpose until authenticated by the manual signature of the Trustee or Authenticating Agent. 
 15. GOVERNING
LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THE 2046 NOTES OF THIS SERIES AND THE NOTE GUARANTEES TO THE 2046 NOTES. 

16. CUSIP AND ISIN NUMBERS. The Issuer has caused CUSIP and ISIN numbers to be printed on the 2046 Notes of this series and the Trustee or
Registrar may use CUSIP and ISIN numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the 2046 Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon. 
 The Issuer will furnish to any Holder upon written request and
without charge a copy of the Indenture. Requests may be made to the Issuer at the following address: 
 Delphi Automotive
PLC 
 c/o Delphi Automotive Systems, LLC 

5725 Delphi Drive 

Troy, Michigan 48098 

Facsimile: (248) 813-2491 

Attention: Treasurer 

  
 B-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 (I) or (we)
assign and transfer this Note to:
                                         
                                         
       
             (Insert assignee’s legal name) 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                         
                                         
                                         
          to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 
  

	
	Date:                             
	  
 Your Signature:
                                         
                   

	
                          
(Sign exactly as your name appears

                          on
the face of this Note)

	  
 Signature Guarantee*:
                                         
               

	

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 B-10 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is $            . The
following exchanges of a part of this Global Note for an interest in another Global Note or for a Certificated Note, or exchanges of a part of another Global or Certificated Note for an interest in this Global Note, have been made: 

 

									
	 Date of Exchange
	  	 Amount of

decrease in
 Principal

Amount of this
 Global
Note
	  	 Amount of

increase in
 Principal

Amount of this
 Global
Note
	  	Principal
Amount of this
Global Note
following such
decrease or
increase	  	 Signature of

authorized
 officer of

Trustee or

Custodian

  

 

	*	This schedule should be included only if the Note is issued in global form. 

  
 B-11EX-4.1

 Exhibit 4.1 

HERCULES INCORPORATED 
 LONG TERM
INCENTIVE COMPENSATION PLAN 
 (AS AMENDED AND RESTATED) 
  

			
		  	 [HERCULES LOGO]
 Hercules Plaza

Wilmington, DE 19894-0001
 April 29, 1999

 TABLE OF CONTENTS 
  

					
	 	  	PAGE	 
	 ARTICLE I       PURPOSE
	  	 	1	  
		
	 ARTICLE II      DEFINITIONS AND CONSTRUCTION
	  	 	1	  
	 Section 2.1 Definitions
	  	 	1	  
	 (1) Accelerated Date
	  	 	1	  
	 (2) Act
	  	 	1	  
	 (3) APD Election
	  	 	1	  
	 (4) Attributable Shares
	  	 	1	  
	 (5) Award
	  	 	1	  
	 (6) Award Commitment
	  	 	1	  
	 (7) Award Items
	  	 	2	  
	 (8) Base Salary
	  	 	2	  
	 (9) Beneficiary
	  	 	2	  
	 (10) Board
	  	 	2	  
	 (11) Bonus
	  	 	2	  
	 (12) Cash Value Award or CVA
	  	 	2	  
	 (13) CEO
	  	 	2	  
	 (14) Change in Control
	  	 	2	  
	 (15) Code
	  	 	2	  
	 (16) Committee
	  	 	2	  
	 (17) Common Stock
	  	 	2	  
	 (18) Company
	  	 	2	  
	 (19) Date of Grant
	  	 	2	  
	 (20) Designated Retirement Date
	  	 	2	  
	 (21) Disability
	  	 	2	  
	 (22) Fair Market Value
	  	 	3	  
	 (23) Grantee
	  	 	3	  
	 (24) Grantor
	  	 	3	  
	 (25) Hercules Incorporated Deferred Compensation Plan
	  	 	3	  
	 (26) Hercules Incorporated Non-Qualified Savings Plan
	  	 	3	  
	 (27) Hercules Pension Plan
	  	 	3	  
	 (28) Hercules Pension Restoration Plan
	  	 	3	  
	 (29) Incentive Stock Option or ISO
	  	 	3	  
	 (30) Management Incentive Compensation Plan
	  	 	3	  
	 (31) Maximum Award
	  	 	3	  
	 (32) Minimum Award
	  	 	3	  
	 (33) Nonqualified Option
	  	 	4	  
	 (34) Nonreporting Person
	  	 	4	  
	 (35) Normal Retirement Date
	  	 	4	  
	 (36) Normal Vesting Date
	  	 	4	  
	 (37) Option or Stock Option
	  	 	4	  
	 (38) Optionee
	  	 	4	  
	 (39) Option Period
	  	 	4	  
	 (40) Option Price
	  	 	4	  
	 (41) Other Market-Based Awards
	  	 	4	  
	 (42) Other Performance-Based Awards
	  	 	4	  
	 (43) Participating Subsidiary
	  	 	4	  
	 (44) PASO Period
	  	 	4	  

  
 i 

					
	 (45) Payout Schedule
	  	 	4	  
	 (46) Performance Accelerated Stock Option or “PASO”
	  	 	4	  
	 (47) Performance Goal
	  	 	4	  
	 (48) Performance Period
	  	 	4	  
	 (49) Performance Share
	  	 	4	  
	 (50) Performance Share Award
	  	 	5	  
	 (51) Performance Share Fair Market Value
	  	 	5	  
	 (52) Phantom Unit
	  	 	5	  
	 (53) Phantom Unit Award
	  	 	5	  
	 (54) Phantom Unit Fair Market Value
	  	 	5	  
	 (55) Reduction in Force
	  	 	5	  
	 (56) Related Entity
	  	 	5	  
	 (57) Reporting Person
	  	 	5	  
	 (58) Restricted Stock
	  	 	5	  
	 (59) Restricted Stock Award
	  	 	5	  
	 (60) Restricted Stock Unit
	  	 	5	  
	 (61) Restricted Stock Unit Award
	  	 	5	  
	 (62) Restricted Period
	  	 	5	  
	 (63) Restriction Range
	  	 	5	  
	 (64) Retirement
	  	 	5	  
	 (65) Rule 16b-3
	  	 	5	  
	 (66) SAR
	  	 	6	  
	 (67) SAR Fair Market Value
	  	 	6	  
	 (68) Stock Appreciation Right
	  	 	6	  
	 (69) Stock Appreciation Right Award
	  	 	6	  
	 (70) Stock Option Award
	  	 	6	  
	 (71) Subsidiary
	  	 	6	  
	 (72) Substitution Awards
	  	 	6	  
	 (73) Suspension Period
	  	 	6	  
	 (74) Target Award
	  	 	6	  
	 Section 2.2 Construction
	  	 	6	  
		
	 ARTICLE III       STOCK AVAILABLE FOR AWARDS
	  	 	7	  
	 Section 3.1         Common Stock
	  	 	7	  
	 Section 3.2         Number of Shares Deliverable
	  	 	7	  
	 Section 3.3         Reusable Shares
	  	 	7	  
	 Section 3.4         Shares Not Charged Against Available
Shares
	  	 	7	  
		
	 ARTICLE IV       AWARDS AND AWARD AGREEMENTS
	  	 	7	  
	 Section 4.1         General
	  	 	7	  
	 Section 4.2         Eligibility
	  	 	8	  
	 Section 4.3         Terms and Conditions; Award
Commitments
	  	 	8	  
	 4.3.1     Terms And Conditions
	  	 	8	  
	 4.3.2     Award Commitments
	  	 	8	  
		
	 ARTICLE V       OPTIONS AND STOCK APPRECIATION RIGHTS
	  	 	8	  
	 Section 5.1         Award of Options
	  	 	8	  
	 5.1.1     Grants
	  	 	8	  
	 5.1.2     Types of Options
	  	 	9	  
	 5.1.3     Substantial Stockholder
	  	 	9	  
	 5.1.4     Maximum Award
	  	 	9	  
	 Section 5.2         Option Price
	  	 	9	  
	 Section 5.3         Option Periods
	  	 	9	  
	 Section 5.4         Exercise of Options
	  	 	9	  
	 5.4.1     Exercisability
	  	 	9	  

  
 ii 

					
	 5.4.2     Certain Limitations
	  	 	9	  
	 5.4.3     Method of Exercise
	  	 	9	  
	 Section 5.5         Time and Method
	  	 	10	  
	 5.5.1     Form of Payment
	  	 	10	  
	 5.5.2     Time of Payment
	  	 	10	  
	 5.5.3     Methods for Tendering Shares
	  	 	10	  
	 5.5.4     ISO Limitation
	  	 	10	  
	 Section 5.6         Delivery of Shares
	  	 	10	  
	 Section 5.7         Stockholder Rights
	  	 	10	  
	 Section 5.8         Incentive Stock Options
	  	 	10	  
	 5.8.1     Individual Limitation
	  	 	10	  
	 5.8.2     Code Qualification
	  	 	10	  
	 5.8.3     Notice of Disposition
	  	 	11	  
	 Section 5.9         Stock Appreciation Rights
Awards
	  	 	11	  
	 5.9.1     Grants
	  	 	11	  
	 5.9.2     SAR Exercise
	  	 	11	  
	 5.9.3     Value of SAR Payment
	  	 	11	  
	 5.9.4     Time and Method of Payment
	  	 	11	  
	 5.9.5     Effect of SAR and Option Exercises
	  	 	12	  
	 5.9.6     Nature of SARs
	  	 	12	  
	 Section 5.10         Performance Accelerated Stock Options
Awards
	  	 	12	  
	 5.10.1     Grants
	  	 	12	  
	 5.10.2     Accelerated Date
	  	 	12	  
	 5.10.3     PASO Period
	  	 	12	  
	 5.10.4     Exercisability
	  	 	13	  
	 5.10.5     Corporate or Business Goals
	  	 	13	  
	 5.10.6     PASOs Treated Like Options
	  	 	13	  
		
	 ARTICLE VI        PERFORMANCE SHARE AWARDS
	  	 	13	  
	 Section 6.1         Grants
	  	 	13	  
	 Section 6.2         Performance Period
	  	 	13	  
	 Section 6.3         Performance Goals
	  	 	13	  
	 Section 6.4         Payout Schedule
	  	 	14	  
	 Section 6.5         Issuance of Stock and Stock
Certificates
	  	 	14	  
	 6.5.1     Issuance
	  	 	14	  
	 6.5.2     Custody and Legends
	  	 	14	  
	 Section 6.6         Restrictions and Forfeitures
	  	 	14	  
	 Section 6.7         Stockholder Rights
	  	 	15	  
	 Section 6.8         Delivery of Shares and Cash
Payments
	  	 	15	  
	 6.8.1     Determination of Performance Results and Award Settlement
	  	 	15	  
	 6.8.2     Delivery of Shares and Payment of Cash
	  	 	15	  
	 6.8.3     Revisions for Significant Events
	  	 	16	  
	 6.8.4     Conditions Precedent
	  	 	16	  
	 6.8.5     Performance Share Fair Market Value
	  	 	16	  
		
	 ARTICLE VII       RESTRICTED STOCK AWARDS
	  	 	17	  
	 Section 7.1         Grants
	  	 	17	  
	 Section 7.2         Restricted Period
	  	 	17	  
	 Section 7.3         Restrictions and Forfeiture
	  	 	17	  
	 Section 7.4         Issuance of Stock and Stock
Certificate
	  	 	17	  
	 7.4.1     Issuance
	  	 	17	  
	 7.4.2     Custody and Legends
	  	 	18	  
	 Section 7.5         Stockholder Rights
	  	 	18	  
	 Section 7.6         Delivery of Shares
	  	 	18	  

  
 iii 

					
		
	 ARTICLE VIII    PHANTOM UNIT AWARDS
	  	 	18	  
	 Section 8.1         Grants
	  	 	18	  
	 Section 8.2         Vesting of Awards
	  	 	19	  
	 Section 8.3         Value of Phantom Units
Payments
	  	 	19	  
	 Section 8.4         Time and Method of Payment
	  	 	19	  
	 Section 8.5         Forfeiture of Phantom Units
	  	 	19	  
	 Section 8.6         Nature of Phantom Units
	  	 	19	  
		
	 ARTICLE IX      CASH VALUE AWARDS
	  	 	20	  
	 Section 9.1         Grants
	  	 	20	  
	 Section 9.2         Performance Period
	  	 	20	  
	 Section 9.3         Performance Goals
	  	 	20	  
	 Section 9.4         Payout Schedule
	  	 	20	  
	 Section 9.5         Form Of Payout
	  	 	20	  
	 Section 9.6         Calculation Of Payout
	  	 	20	  
		
	 ARTICLE X       OTHER AWARDS
	  	 	21	  
	 Section 10.1         Other Market-Based Awards
	  	 	21	  
	 Section 10.2         Other Performance-Based
Awards
	  	 	21	  
	 Section 10.3         Terms of Other Awards
	  	 	21	  
	 Section 10.4         Stock Option Dividend
Equivalents
	  	 	21	  
	 10.4.1     Grants
	  	 	21	  
	 10.4.2     Interest
	  	 	22	  
	 10.4.3     Forfeiture
	  	 	22	  
		
	 ARTICLE XI      SUBSTITUTION AWARDS
	  	 	22	  
	 Section 11.1         Substitution of Performance
Shares
	  	 	22	  
	 Section 11.2         Substitution of Restricted
Stock
	  	 	22	  
	 Section 11.3         Substitution Procedures
	  	 	22	  
	 Section 11.4         Substitutions in Contemplation of
Retirement
	  	 	22	  
		
	 ARTICLE XII    TERMINATION OF EMPLOYMENT
	  	 	23	  
	 Section 12.1         Retirement
	  	 	23	  
	 12.1.1     Stock Options and SARs
	  	 	23	  
	 12.1.2     Performance Share, Restricted Stock, Phantom Unit, and Cash Value
Awards
	  	 	23	  
	 12.1.3     Performance Accelerated Stock Options
	  	 	23	  
	 12.1.4     Restricted Stock Unit
	  	 	23	  
	 Section 12.2         Reduction in Force
	  	 	23	  
	 12.2.1     Stock Options and SARs
	  	 	23	  
	 12.2.2     Performance Share, Restricted Stock, Restricted Stock Unit, Phantom
Unit and Cash Value Awards
	  	 	24	  
	 12.2.3     Performance Accelerated Stock Options
	  	 	24	  
	 Section 12.3         Transfers to Certain Related
Entities
	  	 	24	  
	 12.3.1     Stock Options and SARs
	  	 	24	  
	 12.3.2     Performance Share, Restricted Stock, Restricted Stock Unit, Phantom
Unit and Cash Value Awards
	  	 	24	  
	 12.3.3     Performance Accelerated Stock Options
	  	 	24	  
	 Section 12.4         Disability or Death
	  	 	24	  
	 12.4.1     Stock Options and SARs
	  	 	24	  
	 12.4.2     Performance Share, Restricted Stock, Restricted Stock Unit, Phantom
Unit and Cash Value Awards
	  	 	25	  
	 12.4.3     Performance Accelerated Stock Options
	  	 	25	  

  
 iv 

					
	 Section 12.5         Resignation
	  	 	25	  
	 12.5.1     Stock Options, SARs and Performance Accelerated Stock
Options
	  	 	25	  
	 12.5.2     Performance Share, Restricted Stock, Restricted Stock Unit, Phantom
Unit and Cash Value Awards
	  	 	25	  
	 Section 12.6         Decrease in Company
Ownership
	  	 	26	  
	 12.6.1     Stock Options and SARs
	  	 	26	  
	 12.6.2     Performance Share, Restricted Stock, Restricted Stock Unit, Phantom
Unit and Cash Value Awards
	  	 	26	  
	 12.6.3     Performance Accelerated Stock Options
	  	 	26	  
	 Section 12.7         Termination of Employment for Other
Reasons
	  	 	26	  
	 12.7.1     Stock Options, SARs and Performance Accelerated Stock
Options
	  	 	26	  
	 12.7.2     Performance Share, Restricted Stock, Restricted Stock Unit, Phantom
Unit and Cash Value Awards
	  	 	26	  
	 Section 12.8         Termination Date
	  	 	26	  
	 Section 12.9         Reporting Person Limitation
	  	 	27	  
		
	 ARTICLE XIII      EXCHANGE AWARDS; ABOVE TARGET MICP AWARDS
	  	 	27	  
	 Section 13.1         Salary/Bonus Reductions
	  	 	27	  
	 13.1.1     Restricted Stock
	  	 	27	  
	 13.1.2     Options
	  	 	27	  
	 Section 13.2         Deferred Accounts
	  	 	28	  
	 13.2.1     Deferred Compensation Plan Accounts
	  	 	28	  
	 13.2.2     Non-Qualified Savings Plan Accounts
	  	 	28	  
	 Section 13.3         Termination of Employment
	  	 	28	  
	 13.3.1     Death, Disability and Reduction in Force
	  	 	28	  
	 13.3.2     Retirement
	  	 	29	  
	 13.3.3     Resignation or Termination for Cause
	  	 	29	  
	 Section 13.4         Avoidance of Pension
Diminution
	  	 	29	  
	 13.4.1     Governing Provisions
	  	 	29	  
	 13.4.2     Exchange Awards
	  	 	29	  
	 13.4.3     Designated Retirement Date
	  	 	30	  
	 Section 13.5         Irrevocability
	  	 	30	  
	 Section 13.6         Equivalency
	  	 	30	  
	 Section 13.7         MICP Awards
	  	 	30	  
	 Section 13.8         Definition
	  	 	30	  
		
	 ARTICLE XIV      CERTAIN TERMS APPLICABLE TO ALL AWARDS
	  	 	31	  
	 Section 14.1         Withholding Taxes
	  	 	31	  
	 Section 14.2         Adjustments to Reflect Capital
Changes
	  	 	31	  
	 14.2.1     Recapitalization
	  	 	31	  
	 14.2.2     Sale or Reorganization
	  	 	32	  
	 14.2.3     Options to Purchase Stock of Acquired Companies
	  	 	32	  
	 Section 14.3         Failure to Comply With Terms and
Conditions
	  	 	32	  
	 Section 14.4         Forfeiture Upon Occurrence of Certain
Events
	  	 	32	  
	 Section 14.5         Regulatory Approvals and
Listing
	  	 	32	  
	 Section 14.6         Restrictions Upon Resale of
Stock
	  	 	33	  
	 Section 14.7         Reporting Person Limitation
	  	 	33	  
		
	 ARTICLE XV       DISPUTES
	  	 	33	  
		
	 ARTICLE XVI      ADMINISTRATION OF THE PLAN
	  	 	34	  
	 Section 16.1         Committee
	  	 	34	  
	 Section 16.2         Committee Actions
	  	 	34	  
	 Section 16.3         No Liability of Committee
Members
	  	 	34	  

  
 v 

					
		
	 ARTICLE XVII       EFFECTIVE DATE, TERM OF THE PLAN AND STOCKHOLDER
APPROVAL
	  	 	34	  
		
	 ARTICLE XVIII      CHANGE IN CORPORATE CONTROL
	  	 	34	  
	 Section 18.1         Options
	  	 	34	  
	 Section 18.2         SARs
	  	 	35	  
	 Section 18.3         All Other Awards
	  	 	35	  
	 Section 18.4         Definitions
	  	 	35	  
		
	 ARTICLE XIX      AMENDMENT AND TERMINATION
	  	 	35	  
	 Section 19.1         Amendment
	  	 	35	  
	 Section 19.2         Suspension or Termination
	  	 	36	  
	 Section 19.3         No Repricing of Options
	  	 	36	  
		
	 ARTICLE XX      MISCELLANEOUS
	  	 	37	  
	 Section 20.1         Deferral Election
	  	 	37	  
	 Section 20.2         Designation of Beneficiary
	  	 	37	  
	 Section 20.3         No Right to an Award or to Continued
Employment
	  	 	37	  
	 Section 20.4         Discretion of the Committee and the
CEO
	  	 	37	  
	 Section 20.5         Indemnification and
Exculpation
	  	 	38	  
	 20.5.1     Indemnification
	  	 	38	  
	 20.5.2     Exculpation
	  	 	38	  
	 Section 20.6         Unfunded Plan
	  	 	38	  
	 Section 20.7         Inalienability of Rights and
Interests
	  	 	38	  
	 Section 20.8         Awards Not Includable for Benefit
Purposes
	  	 	39	  
	 Section 20.9         No Issuance of Fractional
Shares
	  	 	39	  
	 Section 20.10         Modification for Overseas
Grantees
	  	 	39	  
	 Section 20.11         Leaves of Absence
	  	 	39	  
	 Section 20.12         Communications
	  	 	39	  
	 20.12.1     Communications by the Committee
	  	 	39	  
	 20.12.2     Communications by the Participants and Others
	  	 	39	  
	 Section 20.13         Parties in Interest
	  	 	39	  
	 Section 20.14         Severability
	  	 	40	  
	 Section 20.15         Compliance with Laws
	  	 	40	  
	 Section 20.16         No Strict Construction
	  	 	40	  
	 Section 20.17         Modification
	  	 	40	  
	 Section 20.18         Governing Law
	  	 	40	  

  
 vi 

 HERCULES INCORPORATED 

LONG TERM INCENTIVE COMPENSATION PLAN 

ARTICLE I 
 PURPOSE 

The Hercules Incorporated Long Term Incentive Compensation Plan, the terms of which are herein set forth (as the same is now in effect or as
hereafter amended from time to time, the “Plan”), is intended to advance the interests of Hercules Incorporated, a Delaware corporation (the “Company”), and its stockholders by providing a means by which the Company and its
participating subsidiaries and affiliates shall be able to motivate selected key employees (including officers and directors who are employees) to direct their efforts to those activities that will contribute materially to the Company’s
success. The Plan is also intended to serve the best interests of the stockholders by linking remunerative benefits paid to employees who have substantial responsibility for the successful operation, administration and management of the Company
and/or its participating subsidiaries and affiliates with the enhancement of stockholder value while such key employees increase their proprietary interest in the Company. Finally, the Plan is intended to enable the Company to attract and retain in
its employ highly qualified persons for the successful conduct of its business. 
 The Plan became effective as of April 1, 1991, and was
amended and restated as of June 30, 1993, April 27, 1995, April 24, 1997, and is hereby further amended and restated as of April 29, 1999. Notwithstanding anything to the contrary, the said amended and restated Plan shall not terminate or adversely
affect any Awards granted prior hereto. 
 ARTICLE II 

DEFINITIONS AND CONSTRUCTION 

SECTION 2.1 DEFINITIONS 
 The
following words and phrases when used in the Plan with an initial capital letter, unless their context clearly indicates to the contrary, shall have the respective meanings set forth below in this Section 2.1: 

(1) Accelerated Date. As defined in Subsection 5.10.2. 

(2) Act. The Securities Exchange Act of 1934, as now in effect or as hereafter amended from time to time. References to any
section or subsection of the Act are to such section or subsection as the same may from time to time be amended or renumbered and/or any comparable or succeeding provisions of any legislation that amends, supplements or replaces such section or
subsection. 
 (3) APD Election. As defined in Subsection 13.4.2 

(4) Attributable Shares. As defined in Subsection 9.6. 

(5) Award. A grant of Award Items in accordance with the provisions of the Plan. A grant of a particular Award Item may
sometimes be referred to as follows: “Stock Option Award” for a grant of Stock Options; “Stock Appreciation Right Award” for Stock Appreciation Rights; “PASO Award” for Performance Accelerated Stock Options; “CVA
Award” for Cash Value Awards; “Performance Shares Award” for Performance Shares; “Restricted Stock Award” for Restricted Stock; and “Phantom Unit Award” for Phantom Units. 

(6) Award Commitment. The written commitment delivered by the Company to the Grantee evidencing an Award and setting forth such
terms and conditions of the Award as may be deemed appropriate by the Committee. The Award Commitment shall be in a form approved by the Committee, and shall be deemed amended from time to time to include such additional terms and conditions as the
Committee may specify after the execution in the exercise of its powers under the Plan. 

  
 1 

 (7) Award Items. Individually and collectively, as the case may be, the items
awarded to any Grantee in accordance with the provisions of the Plan in the form of Options, Stock Appreciation Rights, Performance Accelerated Stock Options, Cash Value Awards, Performance Shares, Restricted Stock, Phantom Units or other award, or
any combination of the foregoing. 
 (8) Base Salary. The regular salary paid to an employee. Base salary shall not include
bonuses or other forms of compensation which are not considered regular earnings by the Committee. 
 (9) Beneficiary. Any
individual, estate or trust who or which by designation of the Grantee pursuant to Section 20.2 or operation of law succeeds to the rights and obligations of the Grantee under the Plan and Award Commitment upon the Grantee’s death. 

(10) Board. The Board of Directors of the Company. 

(11) Bonus. An amount payable pursuant to the Management Incentive Compensation Plan or any other short term incentive
compensation plan approved by the Committee. 
 (12) Cash Value Award or CVA. A grant in accordance with the provisions of
the Plan in the form of a designated cash value payable in cash, Common Stock or Restricted Stock, or a combination thereof, all as determined by the Grantor at the Payout Date. 

(13) CEO. The Chief Executive Officer of the Company. 

(14) Change in Control. The occurrence of an event defined in Section 18.4, which event is of a nature that would be required
to be reported in response to Item 6(e) of Schedule 14A promulgated under the Act as in effect on the date hereof or, if Item 6(e) is no longer in effect, any regulations issued by the Securities and Exchange Commission pursuant to the Act which
serves similar purposes. 
 (15) Code. The Internal Revenue Code of 1986, as now in effect or as hereafter amended from time
to time, and as construed and interpreted by valid regulations issued by the United States Internal Revenue Service thereunder. References to any section or subsection of the Code are to such section or subsection as the same may from time to time
be amended or renumbered and/or any comparable or succeeding provisions of any legislation that amends, supplements or replaces such section or subsection. 

(16) Committee. The Compensation Committee of the Board or such other committee as may be designated by the Board to administer
the Plan. 
 (17) Common Stock. Voting common stock authorized for issuance by the Company and issued and outstanding. 

(18) Company. Hercules Incorporated and its successors and assigns. 

(19) Date of Grant. The date designated by the Grantor as the date as of which the Grantor grants an Award, which shall not be
earlier than the date on which the Grantor approves the granting of such Award. 
 (20) Designated Retirement Date. As
defined in Section 13.4.3. 
 (21) Disability. A physical or mental impairment sufficient to make the individual eligible for
benefits under the Long-Term Disability Plan of Hercules Incorporated or under a disability plan of one of the Participating Subsidiaries (whether or not a participant in such disability plan), so long as for Incentive Stock Options such impairment
also constitutes a disability within the meaning of Section 22(e)(3) of the Code. 

  
 2 

 (22) Fair Market Value. Unless otherwise indicated in the provisions of the Plan,
as of any date the closing price for one share of Common Stock as reported on the Composite Tape for New York Stock Exchange Listed Companies and published in the Eastern Edition of The Wall Street Journal, or, if there is no trading on the date in
question, the closing price of the Common Stock, as so reported and published, on the next preceding date on which there was trading in Common Stock. 

(23) Grantee. An employee of the Company or any Participating Subsidiary to whom an Award is granted. At the time of award,
such employee (including any director or officer who is also an employee) must be in the regular full-time employment of the Company or any Participating Subsidiary, without limitation as to length of service. 

(24) Grantor. The Committee or the CEO, as the case may be, who grants an Award. The Committee shall (i) grant Awards to
Reporting Persons and (ii) establish the maximum aggregate amount of particular Award Items to be granted to Nonreporting Persons as a group and (iii) establish the guidelines and oversight under which, pursuant to authorities granted by the
Committee, the CEO may grant Awards to Nonreporting Persons. Notwithstanding anything to the contrary, the CEO is not intended to be nor shall be construed as a member of the Committee. In making awards to Nonreporting Persons, the CEO is acting as
a delegee of the Committee and is at all times accountable to the Committee and authorized to act only in accordance with the provisions of the Plan and the guidelines and direction provided by the Committee from time to time. 

(25) Hercules Incorporated Deferred Compensation Plan. The Hercules Incorporated Deferred Compensation Plan as the same is now
in effect or as hereafter amended from time to time. 
 (26) Hercules Incorporated Non-Qualified Savings Plan. The Hercules
Incorporated Non-Qualified Savings Plan (a portion of the Hercules Incorporated Deferred Compensation Plan) as the same is now in effect or as hereafter amended from time to time. 

(27) Hercules Pension Plan. The Hercules Pension Plan as the same is now in effect or as hereafter amended from time to time.

 (28) Hercules Pension Restoration Plan. The Hercules Employee Pension Restoration Plan as the same is now in effect or as
hereafter amended from time to time. 
 (29) Incentive Stock Option or ISO. An Option granted pursuant to Section 5.1 which
is intended to meet, and structured with a view to satisfying, the requirements of Section 422 of the Code and is designated by the Committee as an Incentive Stock Option. The Award of an Incentive Stock Option shall contain such provisions as are
necessary to comply with such Section 422. 
 (30) Management Incentive Compensation Plan. The Hercules Incorporated Annual
Management Incentive Compensation Plan as the same is now in effect or as hereafter amended from time to time. 
 (31)
Maximum Award. The number or amount of Performance Accelerated Stock Options, Cash Value Awards, or Performance Shares, as the case may be, which vest when the maximum performance in the relevant Performance Range is achieved. 

(32) Minimum Award. The number or amount of Performance Accelerated Stock Options, Cash Value Awards, or Performance Shares, as
the case may be, which vest when the minimum performance in the relevant Performance Range is achieved. 

  
 3 

 (33) Nonqualified Option. An Option granted pursuant to Section 5.1 which does
not qualify as, and is not designated by the Committee as, an Incentive Stock Option and is designated as a Nonqualified Option. 

(34) Nonreporting Person. A Grantee who is not subject to Section 16 of the Act. 

(35) Normal Retirement Date. Age 65. 

(36) Normal Vesting Date. As defined in Subsection 5.10.1. 

(37) Option or Stock Option. A right granted pursuant to Article V that for a specified period of time entitles the holder
thereof to purchase full shares of Common Stock at a stated price. At the discretion of the Committee, an Option may be an Incentive Stock Option or a Nonqualified Stock Option. 

(38) Optionee. A Grantee to whom an Option or Stock Appreciation Right or Performance Accelerated Stock Option, as the case may
be, is granted pursuant to Article V. 
 (39) Option Period. As defined in Section 5.3. 

(40) Option Price. The per share price at which shares of Common Stock may be purchased upon exercise of a particular Option or
Performance Accelerated Stock Option. 
 (41) Other Market-Based Awards. Awards granted in accordance with Section 9.1. 

(42) Other Performance-Based Awards. Awards granted in accordance with Section 9.2. 

(43) Participating Subsidiary. Any Subsidiary (existing from time to time) designated by the Board as a Participating
Subsidiary; provided, however, for Incentive Stock Options only, “Participating Subsidiary” means any such Subsidiary which at the time such Option is granted qualifies as a “Subsidiary” of the Company under Section 424(b) of the
Code. 
 (44) PASO Period. As defined in Subsection 5.10.3. 

(45) Payout Schedule. The distribution scheme for applicable Award Items for a given Plan Year upon performance of varying
goals, all as established by either the Committee with respect to the Company, or by the CEO (or his designee or designees) with respect to a given subsidiary, business unit, corporate staff group or individual. 

(46) Performance Accelerated Stock Option or “PASO”. Stock Option with a normal vesting date established by the
Committee; provided, however, that under certain circumstances such vesting date may be accelerated by the Committee to an earlier date if the Committee determines that the applicable Performance Goal has been met. 

(47) Performance Goal. The level of performance established by the Grantor, which must be achieved in order to earn or vest the
applicable Minimum Award, Target Award, Maximum Award or intermediate level of Award Items. 
 (48) Performance Period. The
period of time selected by the Committee during which the achievement of Performance Goals is measured for purposes of determining the extent to which an applicable Award Item has been earned or will vest. 

(49) Performance Share. A contingent right to receive, when certain performance criteria have been attained, without payment to
the Company, the amounts of Common Stock and cash determined under Article VI. Such rights are subject to forfeiture or reduction if the applicable Performance Goals are not met within the applicable Performance Period. 

  
 4 

 (50) Performance Share Award. A Performance Share Award under Article VI,
settlement of which is contingent upon attainment during a Performance Period of Performance Goals. 
 (51) Performance Share
Fair Market Value. As defined in Subsection 6.8.5. 
 (52) Phantom Unit. A right to receive, without payment to the Company,
an amount of cash equal to the value of a share of Common Stock as of a future date, plus dividend equivalents and interest payments provided for in Article VIII. A “unit” of phantom units does not represent or entitle the recipient to any
equity securities of the Company, but instead involves the creation of an unfunded account for the recipient, the value of which is measured by reference to the value of Common Stock. 

(53) Phantom Unit Award. An Award of Phantom Units under Article VIII, subject to such forfeiture provisions as are set forth
in the Award Commitment. 
 (54) Phantom Unit Fair Market Value. As defined in Section 8.3. 

(55) Reduction in Force. Termination of employment by the Company or a Participating Subsidiary in such a manner that the
employee so terminated is eligible to receive benefits under the Company or a Participating Subsidiary dismissal salary plan. 

(56) Related Entity. A corporation, partnership, joint venture or other entity not more than 50% but at least 20% of whose
outstanding voting stock or voting power for the election of directors is beneficially owned directly or indirectly by the Company. 

(57) Reporting Person. A Grantee who is subject to Section 16 of the Act. 

(58) Restricted Stock. Shares of Common Stock issued, without payment to the Company, pursuant to a Restricted Stock Award
granted under Article VII. For a specific period of time such shares are subject to a substantial risk of forfeiture and to such restrictions against sale, transfer or other disposition, as determined by the Committee at the time of grant. 

(59) Restricted Stock Award. An Award of Restricted Stock under Article VII. 

(60) Restricted Stock Unit. A right to receive, without payment to the Company, a number of shares of Common Stock as of a
future date, plus dividend equivalents and interest payments provided for in Article VIII. A unit of a Restricted Stock Unit does not represent or entitle the recipient to any equity securities of the Company until such future date. In the interim,
the unit represents an unfunded account for the recipient, the value which is measured by reference to the value of Common Stock. 

(61) Restricted Stock Unit Award. An award of Restricted Stock Units under Article VIII, subject to such forfeiture provisions
as are set forth in the Award Commitment. 
 (62) Restricted Period. As defined in Section 7.2. 

(63) Restriction Range. As defined in Section 7.2. 

(64) Retirement. Termination of employment at Normal Retirement Date or with consent of the Company with immediate eligibility
for retirement benefits under a retirement or pension plan maintained by the Company, a Participating Subsidiary or Related Entity. 

(65) Rule 16b-3. Rule 16b-3 of the General Rules and Regulations under the Act, or any law, rule, regulation or other provision
that may hereafter replace such Rule. 

  
 5 

 (66) SAR. A Stock Appreciation Right, as defined below. 

(67) SAR Fair Market Value. As defined in Subsection 5.9.3. 

(68) Stock Appreciation Right. A right granted pursuant to Article V pursuant to which the holder of a related Option, upon
exercise of the Stock Appreciation Right and in lieu of exercising the related Option, is entitled to surrender the related Option, or any applicable portion thereof, to the extent unexercised, and to receive an amount equal to the appreciation in
market value of a fixed number of shares of Common Stock from the Date of Grant. Stock Appreciation Rights may be payable in shares of Common Stock or cash, or a combination of both. Under the Plan, Stock Appreciation Rights are granted in tandem
with Options. 
 (69) Stock Appreciation Right Award. An Award of Stock Appreciation Rights under Article V. 

(70) Stock Option Award. An Award of Options under Article V. 

(71) Subsidiary. Any corporation, partnership, joint venture or other entity in which the Company owns, directly or indirectly
through one or more intermediaries, at least 50% of the outstanding voting stock or voting power for the election of directors or equivalent governing body. In the case of Incentive Stock Options, Subsidiary shall mean any corporation that qualifies
as a “subsidiary corporation” of the Company under Section 424(f) of the Code. 
 (72) Substitution Awards. As
defined in Section 11. 
 (73) Suspension Period. As defined in Article XIII. 

(74) Target Award. The number or amount of Performance Accelerated Stock Options, Cash Value Awards or Performance Shares, as
the case may be, which vest when the target performance in the relevant Performance Range is achieved. 
 SECTION 2.2 CONSTRUCTION 

Whenever any words are used herein in the masculine gender, they shall be construed as though they were also used in the feminine gender in all
cases where they would so apply, and wherever any words are used herein in the singular form they shall be construed as though they were also used in the plural form in all cases where they would so apply. Headings of sections and subsections of
this Plan are inserted for convenience of reference, are not a part of this Plan, and are not to be considered in the construction hereof. The words “hereof,” “herein,” “hereunder” and other similar compounds of the
word “here” shall mean and refer to the entire Plan, and not to any particular provision or section. The words “includes”, “including” and other similar compounds of the word “include” shall mean and refer to
including without limitation. All references herein to specific Articles, Sections or Subsections shall mean Articles, Sections or Subsections of this document unless otherwise qualified. 

  
 6 

 ARTICLE III 

STOCK AVAILABLE FOR AWARDS 

SECTION 3.1 COMMON STOCK 
 Only
Common Stock may be delivered under this Plan, such shares to be made available from authorized but unissued shares or from shares reacquired by the Company, including shares purchased in the open market. 

SECTION 3.2 NUMBER OF SHARES DELIVERABLE 

Subject to adjustments as provided in Section 14.2: (i) during the period of October 1, 1996, through April 30, 2002, the maximum aggregate
number of shares for all Award Items shall be 15,000,000; and (ii) of the maximum 15,000,000 shares available, no more than 8,200,000 shares may be granted for Award Items which are other than Options. 

SECTION 3.3 REUSABLE SHARES 
 In
the event that shares of Common Stock underlying an Award are returned to the Company for any reason (including forfeited or unexercised items) other than the surrender of Options upon the exercise of a Stock Appreciation Rights, the shares so
affected shall be available for use under this Plan to the same Grantee or other Grantee by way of any type or form of Option or Award authorized under the Plan; provided, however, that shares received by the Company upon the exercise of an ISO and
shares subject to an ISO surrendered upon exercise of a SAR shall not be available for the subsequent award of ISOs under this Plan, and that shares received by the Company upon the return (whether due to forfeiture or otherwise) of Restricted Stock
or Performance Shares shall not be available for a subsequent Award under this Plan. 
 SECTION 3.4 SHARES NOT CHARGED AGAINST AVAILABLE
SHARES 
 Shares of Common Stock issued in payment of Stock Appreciation Rights shall not be charged against the number of shares of Common
Stock available for subsequent Awards. Shares of Common Stock substituted in accordance with Article XI for shares previously awarded under this Plan or the Hercules Incorporated Restricted Stock Plan of 1986 shall not be counted against the
authorized aggregate number of shares which may be issued under the Plan. 
 ARTICLE IV 

AWARDS AND AWARD COMMITMENTS 

SECTION 4.1 GENERAL 
 4.1.1
Subject to the provisions of this Plan, the Committee may (i) determine and designate at any time and from time to time those Reporting Persons to whom Awards are to be granted; (ii) determine the time or times when Awards shall be granted; (iii)
determine the form or forms of Awards to be granted to any Reporting Person or to Nonreporting Persons, as a group; (iv) determine the number of Award Items subject to each Award to be granted to any Reporting Person; (v) determine the maximum
aggregate number of shares of Award Items subject to Awards to be granted to Nonreporting Persons, as a group; (vi) determine the terms and conditions of each Award; (vii) determine the number of shares of Restricted Stock a Reporting Person may
acquire by exchange pursuant to Section 13.1 and the time or times of such acquisition; and (viii) determine the number of Options a Reporting or Nonreporting Person may acquire by exchange pursuant to Section 13.1 and the time or times of
acquisition. 
 4.1.2 The CEO shall, subject to the provisions of the Plan, (i) determine and designate at any time and from time to time
those Nonreporting Persons to whom Awards are to be granted; (ii) determine the form or forms of Award to be granted any Nonreporting Person and (iii) determine the number of Award Items subject to each

  
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Award to be granted to any Nonreporting Person. Awards may be granted singly, in combination or in tandem and may be made in combination or in tandem with or in replacement of, or as alternatives
to awards or grants under any other employee plan maintained by the Company or its present or future Participating Subsidiaries. Unless this Plan is extended, no Awards shall be granted or exchanges effected under the Plan after April 30, 2002, but
any then-current restrictions applicable to any Awards theretofore granted or exchanges theretofore effected shall extend beyond that date in accordance with their provisions and any shares of Common Stock used in payment of Cash Value Awards and/or
Performance Shares originally granted before April 30, 2002, may be delivered after April 30, 2002, in accordance with the provisions of the applicable Award. Notwithstanding the later delivery of such shares of Common Stock, the number of such
shares shall be credited against the maximum aggregate number in effect under Section 3.2 at the date of such original grant. 
 SECTION 4.2
ELIGIBILITY 
 The persons who shall be eligible to receive Awards granted pursuant to this Plan shall be such employees (including directors
and officers who are also employees) of the Company or any of the Participating Subsidiaries as the relevant Grantor shall select from time to time from among those who contribute or may be expected to contribute to the successful performance of the
Company or any Participating Subsidiary. Employees eligible for Phantom Unit Awards shall include, in addition to employees of the Company or any of the Participating Subsidiaries, any employees of any other Subsidiary or Related Entity. 

SECTION 4.3 TERMS AND CONDITIONS; AWARD COMMITMENTS 

4.3.1 Terms And Conditions. Each Award granted pursuant to this Plan shall be subject to all of the terms, conditions and restrictions provided
in this Plan and such other terms, conditions and restrictions, if any, as may be specified by the Committee with respect to the Award in question at the time of the making of the Award or as may be specified thereafter by the Committee in the
exercise of its powers under the Plan. Without limiting the foregoing, it is understood that the Committee may, at any time and from time to time after the granting of an Award hereunder, specify such additional terms, conditions and restrictions
with respect to such Award as may be deemed necessary or appropriate to ensure compliance with any and all applicable laws, including, but not limited to, terms and conditions for compliance with Federal and state securities laws and methods of
withholding or providing for the payment of required taxes. The terms, conditions and restrictions with respect to any Award, Grantee or Award Commitment need not be identical with the terms, conditions and restrictions with respect to any other
Award, Grantee or Award Commitment. 
 4.3.2 Award Commitments. Each Award granted pursuant to the Plan shall be subject to all the terms,
conditions and restrictions provided in the Plan and such other terms, conditions and restrictions, if any, as may be specified by the Committee with respect to the Award in question at the time of the making of the Award or as may be specified
thereafter by the Committee in the exercise of its powers under the Plan. Each Award granted pursuant to the Plan shall be evidenced by an Award Commitment and shall comply with, and be subject to, the provisions of the Plan. The Award Commitment
shall not be a precondition to the granting of Awards; however, no person shall have any rights under any Award granted under the Plan unless and until the Company shall have executed and delivered an Award Commitment to the Grantee to whom such
Award shall have been granted. An executed original of the Award Commitment shall be provided to both the Company and the Grantee. 
 ARTICLE
V 
 OPTIONS AND STOCK APPRECIATION RIGHTS 

SECTION 5.1 AWARD OF OPTIONS 

5.1.1 Grants. From time to time and upon the recommendation of the CEO, the Committee may grant Stock Option Awards in such number as it may
determine to such Reporting Persons as the Committee may select. From time to time, the CEO may grant Stock Option Awards in such number as he may determine to such Nonreporting Persons as he may select; provided, however, each and all such grants
shall be subject to any maximum 

  
 8 

 
aggregate amount of Options established by the Committee for grants under the Plan for Nonreporting Persons as a group. The Committee shall determine the number of shares of Common Stock to which
each Option relates; provided, however, such number of shares of Common Stock shall automatically be reduced on a share for share basis to the extent that shares are issued pursuant to the exercise of the Option or shares subject to the Option are
the basis for the exercise of the related Stock Appreciation Right. 
 5.1.2 Types of Options. Options granted pursuant to the Plan may be
either in the form of Incentive Stock Options or in the form of Nonqualified Options. Incentive Stock Options and Nonqualified Options shall be granted separately hereunder. The Committee shall determine whether and to what extent Options granted
under the Plan shall be Incentive Stock Options or Nonqualified Options and the Option shall be so designated. 
 5.1.3 Substantial
Stockholder. No Option shall be granted hereunder to any person who, at the time such Option is to be granted, owns stock of the Company or of any of its Subsidiaries possessing more than 10% of the total combined voting power of all classes of
stock of the Company or of any such Subsidiary. For purposes of the preceding sentence, the attribution rules of stock ownership set forth in Section 424(d) of the Code shall apply. 

5.1.4 Maximum Award To An Individual. During the period from April 29, 1999, through April 30, 2002, no person shall be granted or receive
more than 1,500,000 Options and/or Performance Accelerated Stock Options in the aggregate. 
 SECTION 5.2 OPTION PRICE 

The Option Price of Common Stock covered by each Option shall be determined by the Committee but shall not be less than 100% of the Fair Market
Value of a share of Common Stock on the Date of Grant. 
 SECTION 5.3 OPTION PERIODS 

The Committee shall determine the term of each Option. Subject to earlier termination as provided in Articles XI, XII and XIII, the term shall
not exceed ten (10) years from the Date of Grant. 
 SECTION 5.4 EXERCISE OF OPTIONS 

5.4.1 Exercisability. Subject to Subsection 5.4.2 and Articles XII and XIII, each Option shall be exercisable at any time or times during the
Option Period and in such amount or amounts as the Committee may prescribe and specify in the applicable Award Commitment (subject further in the case of Incentive Stock Options, to such restrictions as may be imposed from time to time by the Code).

 5.4.2 Certain Limitations. The Committee may provide that an Option may not be exercised in whole or in part for any period or periods of
time, from zero to nine and one-half (9.5) years as specified in the Award Commitment. Except as provided in Article XII, or as otherwise determined by the Committee, an Option may be exercised only during the continuance of the Grantee’s
employment with the Company or any of its Subsidiaries. Options granted to a Reporting Person shall not be exercisable until at least six (6) months have elapsed from the Date of Grant of the Option. No Option may be exercised after the expiration
of the applicable Option Period. No Option may be exercised for a fractional share. 
 5.4.3 Method of Exercise. A Grantee may exercise an
Option, in whole or from time to time in part, by giving written notice of exercise to the Company. The notice of exercise shall be on a form approved by the Committee and shall state the number of shares with respect to which the Option is being
exercised. Such notice must be received by the office of the Company designated in the Award Commitment on or before the expiration date of the Option. 

  
 9 

 SECTION 5.5 TIME AND METHOD OF PAYMENT 

5.5.1 Form of Payment. The Optionee shall pay the Option Price in cash or, with the Committee’s permission and according to such rules as
they may prescribe, by delivering shares of Common Stock already owned by the Optionee for at least six months prior to the date of exercise and having a Fair Market Value on the date of exercise equal to the Option Price, or a combination of cash
and shares. The Committee may also permit payment in accordance with a cashless exercise program under which, if so instructed by the Optionee, shares of Common Stock may be issued directly to the Optionee’s broker or dealer upon receipt of the
purchase price in cash from the broker or dealer. 
 5.5.2 Time of Payment. The Optionee shall pay the Option Price not later than ten (10)
days after the date of a statement from the Company following exercise setting forth the Option Price, Fair Market Value of Common Stock on the exercise date, the number of shares of Common Stock that may be delivered in payment of the Option Price
(if applicable) and the amount of withholding tax due, if any. If the Optionee fails to pay the Option Price within the ten (10) day period, the Committee shall have the right to take whatever action it deems appropriate, including voiding the
Option exercise. 
 5.5.3 Methods for Tendering Shares. The Committee shall determine acceptable methods for tendering shares of Common
Stock as payment upon exercise of an Option and may impose such limitations and restrictions on the use of shares of Common stock to exercise an Option as it deems appropriate. 

5.5.4 ISO Limitation. Common Stock acquired by the Grantee which is identified as having been obtained through an Incentive Stock Option under
the Plan and still subject to Incentive Stock Option holding requirements as defined in the Code, may not be tendered in payment of the Option Price. 

SECTION 5.6 DELIVERY OF SHARES 

No shares of Common Stock shall be delivered pursuant to the exercise, in whole or in part, of any Option, unless and until (i) payment in full
of the Option Price therefor is received by the Company and (ii) compliance with all applicable requirements and conditions of this Plan, the Award Commitment and such rules and regulations as may be established by the Committee that are
preconditions to delivery, including, but not limited to, the requirements and conditions of Section 14.5. Promptly after exercise of the Option, payment in full of the Option Price and compliance with the conditions described in the preceding
sentence, the Company shall effect the issuance to the Optionee of such number of shares of Common Stock as are subject to the Option exercise. 

SECTION 5.7 STOCKHOLDER RIGHTS 

An Optionee shall have none of the rights or privileges of a stockholder with respect to any shares of Common Stock covered by an Option unless
and until the Optionee has given written notice of exercise of the Option, has paid in full the Option Price for such shares of Common Stock and has otherwise complied with this Plan, the Award Commitment and such rules and regulations as may be
established by the Committee, and the shares are issued to him. No adjustment shall be made for dividends in cash or property or other distributions or rights with respect to any such shares of Common Stock for which the record date is prior to the
date on which the Optionee or a transferee of the Option shall have become the holder of record of any such shares covered by the Option. Notwithstanding anything to the contrary, an Option may include dividend equivalents as described in Section
10.4. 
 SECTION 5.8 INCENTIVE STOCK OPTIONS 

5.8.1 Individual Limitation. No Grantee may be granted an ISO under this Plan (or any other plans of the Company or any Participating
Subsidiary) which would result in Common Stock with an aggregate Fair Market Value (measured as of the Date of Grant) of more than $100,000 first becoming exercisable in any one calendar year, or which would entitle such Grantee to purchase a number
of shares greater than the maximum number permitted by Section 422(d)(1) of the Code as in effect on the Date of Grant. 
 5.8.2 Code
Qualification. Whenever possible, each provision in the Plan and in every Option granted under this Plan which is designated by the Committee as an ISO shall be interpreted in such a manner as to entitle the Option to the tax treatment afforded by
Section 422 of the Code. If any provision of the Plan or any Option designated by the Committee as an ISO shall be held not to comply with requirements necessary to entitle such Option to such tax treatment, then (i) such provision shall be deemed
to have contained from the outset such language as shall be 

  
 10 

 
necessary to entitle such Option to the tax treatment afforded under Section 422 of the Code, and (ii) all other provisions of this Plan and the Award Commitment shall remain in full force and
effect. If any Award Commitment covering an Option designated by the Committee to be an ISO under the Plan shall not explicitly include any terms required to entitle such ISO to the tax treatment afforded by Section 422 of the Code, all such terms
shall be deemed implicit in the designation of such Option and such Option shall be deemed to have been granted subject to all such terms. 

5.8.3 Notice of Disposition. An Optionee shall give prompt notice to the Company of any disposition of shares of Common Stock acquired upon
exercise of an ISO if such disposition occurs within either two (2) years after grant or one year after receipt of such shares by such Optionee. Such Optionee shall also comply with any applicable withholding requirements. 

SECTION 5.9 STOCK APPRECIATION RIGHTS AWARDS 

5.9.1 Grants. The Committee may grant SARs at the same time as Optionees are awarded Options under the Plan. Each SAR shall be in tandem with
and relate to a specific Option under the Plan and shall specify that the number of Option Shares subject to the SAR shall be equal to the number of shares of Common Stock that the Optionee is entitled to receive pursuant to the related Option. 

5.9.2 SAR Exercise. A SAR may be exercised, in whole or in part, within the period specified for the exercise of the Option in the related
Option grant only upon surrender of the related Option (or portion thereof) by the Optionee. Each SAR shall be exercisable at such time or times, on the conditions and to the extent, but only to the extent, that the related Option is exercisable,
provided that no such SAR (except in the case of death or physical or mental incapacity) shall be exercisable prior to the expiration of six (6) months following the Date of Grant and, provided further, that any SAR granted hereunder may provide, at
the election of the Committee, that the SAR may be exercised only at a time when the Optionee to whom the SAR has been granted is subject to the provisions of Section 16(b) of the Act. Each SAR and all rights and obligations thereunder shall
terminate and may no longer be exercised upon the termination or exercise of the related Option. An Optionee may exercise a SAR by giving written notice of exercise to the Company stating the number of shares of Common Stock subject to exercisable
Options with respect to which the SARs are being exercised. The date upon which such written notice is received by the Company shall be the exercise date for the SARs. 

An Option and SAR covering the same share of Common Stock may not be exercised simultaneously. 

5.9.3 Value of SAR Payment. If an Optionee exercises a SAR, he shall receive an amount equal to the product of (i) the amount by which the SAR
Fair Market Value on the exercise date of one share of Common Stock exceeds the Option Price of the related Option, times (ii) the number of shares covered by the Option, or portion thereof, which is surrendered. For purposes of this Article V,
“SAR Fair Market Value” of a SAR or share of Common Stock on any date shall be the average of the daily closing prices of a share of Common Stock for five (5) consecutive business days immediately preceding the day in question as reported
on the Composite Tape for New York Stock Exchange Listed Companies and published in the Eastern Edition of The Wall Street Journal, subject to the provisions of Section 5.9.4. 

5.9.4 Time and Method of Payment 

5.9.4.1 Any payment which may become due from the Company by reason of an Optionee’s exercise of a SAR may be paid to the Optionee all in
cash, all in shares of Common Stock or partly in shares and partly in cash, as determined by the Committee. The Committee shall determine the timing of any payment made. 

5.9.4.2 If paid in cash, the amount thereof shall be the amount of appreciation determined under Subsection 5.9.3. The payments to be made, in
whole or in part, in cash upon the exercise of SARs by any Reporting Person shall be made in accordance with the provisions relating to the exercise of SARs of Rule 16b-3 of the General Rules and Regulations under the Act, as in effect at the time
of such exercise, or any law, rule, regulation or other provision that may hereafter replace such Rule. 

  
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 5.9.4.3 In the event that all or a portion of the payment is made in shares of Common Stock, the
number of shares of Common Stock received shall be determined by dividing the amount of the appreciation determined under Subsection 5.9.3 by the SAR Fair Market Value of a share of Common Stock on the exercise date of the SAR. Cash will be paid in
lieu of any fractional share of Common Stock or, if the Committee should so determine, the number of shares of Common Stock will be rounded downward to the next whole share of Common Stock. All shares shall be valued at their SAR Fair Market Value
as of the date of such exercise; provided, however, that with respect to exercises of SARs by an employee who is subject to the provisions of Section 16(b) of the Act during any period commencing on the third business day following the date of
release for publication of the quarterly or annual summary statements of the Company’s sales and earnings and ending on the twelfth business day following such date (a “window period”), the Committee may prescribe, by rule of general
application, such other measure of fair market value per share as the Committee may, in its discretion, determine, but not in excess of the highest sale price of the Common Stock reported on the Composite Tape for New York Stock Exchange Listed
Companies and published in the Eastern Edition of The Wall Street Journal during such window period. Notwithstanding the foregoing, the fair market value (or SAR Fair Market Value, if applicable) of SARs that relate to an ISO, shall not be in excess
of the maximum amount that would be permissible under Section 422 of the Code without disqualifying such option as an ISO under such Section 422. 

5.9.5 Effect of SAR and Option Exercises. Upon exercise of a SAR, the number of shares of Common Stock subject to exercise under the related
Option shall automatically be reduced by the number of shares of Common Stock represented by the Option or portion thereof surrendered, as provided in Subsection 5.1.1. Shares of Common Stock subject to Options or portions thereof surrendered upon
the exercise of SARs shall not be available for subsequent awards under the Plan. The exercise of any number of Options shall result in an equivalent reduction in the number of shares of Common Stock covered by the related SAR and such shares may
not again be subject to a SAR under this Plan. 
 5.9.6 Nature of SARs. SARs shall be used solely as a device for the measurement and
determination of the amount to be paid to Grantees as provided in the Plan. SARs shall not constitute or be treated as property or as a trust fund of any kind. All amounts at any time attributable to the SARs shall be and remain the sole property of
the Company and all Grantees’ rights hereunder are limited to the rights to receive cash and shares of Common Stock as provided in the Plan. 

SECTION 5.10 PERFORMANCE ACCELERATED STOCK OPTIONS AWARDS 

5.10.1 Grants. From time to time and upon the recommendation of the CEO, the Committee may grant PASOs in such number as it may determine to
such Reporting Persons as the Committee may select. From time to time, the CEO may grant PASOs in such number as he may determine to such Nonreporting Persons as he may select; provided, however, each and all such grants shall be subject to
Subsection 5.1.4 and any maximum aggregate amount of PASOs established by the Committee for grants under the Plan for Nonreporting Persons as a group. The Committee shall determine the number of PASOs to be awarded; provided, however, such number of
PASOs shall automatically be reduced on a share for share basis to the extent that shares are issued pursuant to the exercise of the PASO. Subject to Subsection 5.10.2, each PASO shall specify a normal vesting date (“Normal Vesting Date”)
(which shall be less than the PASO Period). 
 5.10.2 Accelerated Date. The date or event designated by the Grantor (which shall be earlier
than the Normal Vesting Date) at which the vesting of some or all PASOs shall occur if the Grantor determines that the applicable Performance Goals have been met. 

5.10.3 PASO Period. The Committee shall determine the term of each PASO. Subject to earlier termination as provided in Article XII, the term
shall not exceed ten (10) years. 

  
 12 

 5.10.4 Exercisability. Subject to Subsection 5.10.2 and Article XII, or as otherwise determined
by the Committee, each PASO shall be exercisable at any time or times during the PASO Period and in such amount or amounts as the Committee may prescribe and specify in the applicable Award Commitment. 

5.10.5 Corporate or Business Goals. From time to time, the Grantor shall determine Performance Goals to be used for, among other things,
purposes of determining the Accelerated Date. If the Grantor shall determine minimum target and/or maximum performance goals and (i) if the minimum performance goal is not reached, then the Normal Vesting Date of the affected PASOs shall not be
accelerated, and the Grantor may either determine new goals on the PASOs or allow the PASOs to vest at the Normal Vesting Date; (ii) if the minimum performance goal is reached but the target performance goal is not reached, then the Grantor may
accelerate the Normal Vesting Date to an Accelerated Date for part of the affected PASOs (as specified in the applicable Award Commitment), and for the remainder of the PASOs, the Grantor may determine new goals or allow the PASOs to vest at the
Normal Vesting Date; (iii) if the performance goal is reached and the maximum performance goal is not reached, then the Grantor may accelerate the Normal Vesting Date to an Accelerated Date for part of the affected PASOs, and for the remainder of
the PASOs, the Grantor may determine new goals or allow the PASOs to vest at the Normal Vesting Date; and (iv) if the maximum performance goal is reached, then the Normal Vesting Date for all affected PASOs shall be accelerated to the Accelerated
Date. 
 5.10.6 PASOs Treated Like Options. Except as otherwise provided in the Plan, PASOs shall be treated identical to Options; provided,
however, that if there is a conflict between a provision specifically covering PASOs and one generally covering Options, then the specific provision shall control as to PASOs. 

ARTICLE VI 
 PERFORMANCE SHARE
AWARDS 
 SECTION 6.1 GRANTS 

From time to time and upon the recommendation of the CEO, the Committee may grant Performance Share Awards in such number as it may determine
to such Reporting Persons as the Committee may select. From time to time, the CEO may grant in such number as he may determine Performance Share Awards to such Nonreporting Persons as he may select; provided, however, each and all such grants shall
be subject to any maximum aggregate number of Performance Shares established by the Committee for grants under the Plan for Nonreporting Persons as a group. 

SECTION 6.2 PERFORMANCE PERIOD 

At the time of a Performance Share Award grant, the Committee shall establish a Performance Period of not less than one year nor more than five
(5) years, commencing the Date of Grant of the Award. 
 SECTION 6.3 PERFORMANCE GOALS 

At the time of each grant, the Committee shall establish for all Performance Share Awards the Performance Goals for the Company and any
Participating Subsidiary, while the CEO (or his designee or designees) shall establish for each individual Performance Share Award the business unit, corporate staff group and individual Performance Goals (other than his own which will be the same
as the Performance Goals for the Company), if any. All of the designated Performance Goals must be met as a precondition to any distribution or payment being made with respect to the Performance Share Award following the end of the Performance
Period. Except as provided in Article XII, these Performance Goals (although their measurement, including adjustments, if any, as permitted under Subsection 6.8.3, will not occur until after the expiration of the applicable Performance Period) must
be met during the continuance of the Grantee’s employment with the Company or any Participating Subsidiary, prior to the expiration of the applicable Performance Period and prior to the lapse of restrictions and delivery of any shares of Common
Stock and/or the making of any payment with respect to the Performance Share Award. Performance Goals may vary among Grantees and among Awards to a Grantee. Performance Goals shall be based upon such performance criteria

  
 13 

 
or combination of factors as the Grantor may deem appropriate, including, but not limited to, specified levels of earnings per share, return on investment, return on stockholders’ equity and
such other goals related to the Company’s performance as are deemed appropriate by the Committee. 
 SECTION 6.4 PAYOUT SCHEDULE 

In tandem with the establishment of the Performance Goals, the Grantor shall establish a Payout Schedule for that Performance Period for each
Performance Share Award. Each Payout Schedule shall establish for each Performance Period minimum, target, maximum and intermediate performance and distribution levels for determining the shares of Common Stock deliverable and/or cash payable, if
any, upon settlement of the Performance Share Award at the conclusion of the Performance Period. 
 SECTION 6.5 ISSUANCE OF STOCK AND STOCK
CERTIFICATES 
 6.5.1 Issuance. As soon as possible after the Date of Grant of a Performance Share Award, the Company shall cause to be
issued to the Grantee such number of shares of Common Stock as prescribed by the applicable Payout Schedule for attainment of target level of performance, that is, the Target Award. Concurrently, the Company shall cause to be issued a stock
certificate or certificates, registered in the name of the Grantee and dated the Date of Grant, evidencing such shares. Each such issuance (of shares and of a stock certificate or certificates) shall be subject throughout the Performance Period to
the terms, conditions and restrictions (including forfeiture and restrictions against transfer provisions of Section 6.6) contained in this Plan and/or the Award Commitment entered into between the registered owner of such shares and the Company,
except as otherwise provided in this Plan. Although not a precondition to the granting of a Performance Share Award, each such issuance shall be subject to forfeiture to the Company as of the date of issuance if an Award Commitment and a stock power
endorsed by the Grantee in blank with respect to the shares of Common Stock covered by the Performance Share Award under this Article VI are not duly executed by the Grantee and timely returned to the Company. 

6.5.2 Custody and Legends. Each certificate for shares of Common Stock issued in respect of the Performance Share Award awarded under
Subsection 6.5.1 shall be held in custody by the Company for the Grantee’s account until the expiration or termination of the applicable Performance Period (except as provided in Article XII) and the satisfaction of any and all other conditions
of the Award Commitment applicable to Performance Shares covered by the Performance Share Award. Such certificate shall be imprinted with a legend to indicate that the transferability thereof and the shares of stock represented thereby are subject
to the terms, conditions and restrictions (including forfeiture and restrictions against transfer) contained in this Plan and/or an Award Commitment entered into between the registered owner of such shares and the Company, a copy of which Plan and
Award Commitment is on file in the office of the Company’s Corporate Secretary. Such legend shall not be removed from any stock certificate evidencing Performance Shares until the lapse or release of the restrictions as described in Section
6.8. Each certificate also shall be subject to appropriate stop-transfer orders. 
 SECTION 6.6 RESTRICTIONS AND FORFEITURES 

The shares of Common Stock issued to a Grantee pursuant to Section 6.5 shall be subject to the following restrictions until the expiration or
termination of the Performance Period established pursuant to Section 6.2: (i) a Grantee shall not be entitled to delivery of a certificate evidencing the shares of Common Stock covered by the Performance Share Award until the expiration or
termination of the Performance Period; (ii) none of such shares of Common Stock may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of during the Performance Period and until the satisfaction of any and all other
conditions; and (iii) all such Common Stock shall be forfeited and returned to the Company and all rights of the Grantee with respect to such Common Stock (including, but not limited to, those specified in Section 6.7) shall terminate without
further obligation on the part of the Company unless (x) the Grantee has remained a regular full time employee of the Company or any Participating Subsidiary until the expiration or termination of the Performance Period (except as provided in
Article XII) and (y) the satisfaction of any and all other conditions of the Award Commitment applicable to such Common Stock covered by the Performance Share Award is completed. Upon the forfeiture of any shares of Common Stock, ownership of such
forfeited shares shall be transferred to the Company without further acts by the Grantee. 

  
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 SECTION 6.7 STOCKHOLDER RIGHTS 

Following registration in the Grantee’s name, and subject to execution of the documents provided for in Section 6.5, during the
Performance Period the Grantee shall have the entire beneficial interest in, and all rights and privileges of a stockholder as to, such shares of Common Stock awarded to him with respect to the target level performance, including, but not limited
to, the right to vote and receive dividends, subject to the restrictions and forfeiture risks set forth in Section 6.6. Any shares of Common Stock distributed as a dividend or otherwise with respect to any shares issued under a Performance Share
Award as to which the restrictions have not yet lapsed shall be subject to the same restrictions as such shares. 
 SECTION 6.8 DELIVERY OF
SHARES AND CASH PAYMENTS 
 6.8.1 Determination of Performance Results and Award Settlement. As soon as practicable after the Performance
Period expires or otherwise terminates with respect to each Performance Share Award, the Committee shall determine whether and the extent to which any corporate Performance Goals were achieved during the Performance Period; and the Grantor shall
determine whether and the extent to which applicable business unit, corporate staff and individual Performance Goals, if any, were achieved during the Performance Period. Following such determinations, a calculation shall be made of the number of
shares of Common Stock whose restrictions shall lapse and shall be deliverable and the cash payable, if any, upon settlement of the Performance Share Award. The computation shall be made by application of the Payout Schedule to the degree of actual
performance achieved against Performance Goals (determined as provided in the preceding sentence). 
 6.8.2 Delivery of Shares and Payment
of Cash 
 6.8.2.1 In the event the minimum level of performance established by the Payout Schedule is not achieved, the entire Performance
Share Award is forfeited, including, without limitation, the shares of Common Stock held in custody pursuant to Section 6.5. 
 6.8.2.2
Should the minimum level of performance established by the Payout Schedule be achieved, the Grantee shall have earned (subject to adjustments as provided by Subsection 6.8.3) the applicable Minimum Award and in settlement thereof the Section 6.6
restrictions on that number of shares of Common Stock held in custody pursuant to Section 6.5 equal to the share number specified by the Payout Schedule for performance at the minimum level shall lapse and as promptly as administratively feasible
thereafter, the Company shall deliver to the Grantee a stock certificate or certificates for the number of shares of Common Stock earned. Upon such delivery, shares remaining in custody (which are the difference between the applicable Minimum Award
and the applicable Target Award) shall be forfeited and ownership transferred to the Company without further acts by the Grantee. 
 6.8.2.3
In the event the target level of the Payout Schedule is achieved, the Grantee shall have earned (subject to adjustments as provided by Subsection 6.8.3) the applicable Target Award and in settlement thereof the Section 6.6 restrictions on all of the
shares held in custody pursuant to Section 6.5 shall lapse and as soon as administratively feasible thereafter the Company shall deliver to the Grantee a stock certificate or certificates for the number of shares of Common Stock earned. 

6.8.2.4 For performance at a level between the minimum performance level of the Payout Schedule and the target level of the Payout Schedule
the Section 6.6 restrictions on that number of shares of Common Stock held in custody pursuant to Section 6.5 equal to the share number specified by the Payout Schedule for performance at the applicable intermediate level shall lapse and as promptly
as administratively feasible thereafter, the Company shall deliver to the Grantee a stock certificate or certificates for the number of shares of Common Stock earned. Upon such delivery, shares remaining in custody (which are the difference between
the number of shares prescribed for the level of performance achieved and the Target Award) shall be forfeited and ownership transferred to the Company without further acts by the Grantee. 

6.8.2.5 Should the maximum level of performance established by the Payout Schedule be attained or exceeded, the Grantee shall have earned
(subject to adjustments as provided by Subsection 6.8.3) the applicable Maximum Award and in settlement thereof (i) the restrictions on that number of shares of Common Stock held in 

  
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custody pursuant to Section 6.5 equal to the share number specified by the Payout Schedule for performance at the target level shall lapse and as promptly as administratively feasible thereafter
the Company shall deliver to the Grantee a stock certificate or certificates for the number of shares of Common Stock earned at the target level, and (ii) the share differential between the number of shares specified by the Payout Schedule for
performance at the target level and the number of shares specified in the Payout Schedule for performance at the maximum level of performance shall be paid in cash, shares of Common Stock or a combination thereof, as determined by the Committee.
Such share differential shall have a value which is the product of the number of shares constituting the share differential times the Performance Share Fair Market Value on the vesting date. 

6.8.2.6 For performance between the target level and the maximum level of performance specified in the Payout Schedule (i) the Section 6.6
restrictions on that number of shares of Common Stock held in custody pursuant to Section 6.5 equal to the share number specified by the Payout Schedule for performance at the target level shall lapse and as promptly as administratively feasible
thereafter, the Company shall deliver to the Grantee a stock certificate or certificates for the number of shares of Common Stock earned at the target level, and (ii) the share differential between the share number specified by the Payout Schedule
for performance at the target level and the share number specified by the Payout Schedule for performance at the applicable intermediate level shall be paid in cash, shares of Common Stock or a combination thereof, as determined by the Committee.
Such share differential shall have a value which is the product of the number of shares constituting the share differential times the Performance Share Fair Market Value on the vesting date. 

6.8.2.7 Cash payments normally will be made as soon as practicable following the end of the Performance Period. All shares delivered to a
Grantee pursuant to this Subsection 6.8.2 shall be without the legend described in Subsection 6.5.2 and shall be free of all restrictions and forfeitures, except as otherwise provided by Article XII or imposed by law. No payment will be required
from the Grantee upon the delivery of any shares of Common Stock, except that the amount necessary to satisfy applicable Federal, state or local tax requirements shall be paid by the Grantee in accordance with the requirements of Section 14.1. 

6.8.3 Revisions for Significant Events. When circumstances occur (including, but not limited to, unusual or nonrecurring events, changes in
tax laws or accounting principles or practices) that cause any Performance Goal, Payout Schedule and/or level of performance or distribution specified in a Payout Schedule to be inappropriate in the judgment of the party initially responsible for
establishing the Performance Goal, Payout Schedule and/or performance or distribution level, such party may make such changes as said party deems equitable in recognition of any unforeseen events or changes in circumstances or changed business or
economic conditions. 
 6.8.4 Conditions Precedent. Incentives shall be paid to the Grantee only upon compliance by the Grantee with all
obligations of such Grantee under the Plan and/or the Award Commitment with respect to such Performance Share Awards, including the requirement that, except as provided in Article XII, the Performance Goals (although their measurement, including
adjustments, if any, required by the Committee or the CEO, as provided herein, will not occur until after the expiration of the applicable Performance Period) must be met during the continuance of the Grantee’s employment with the Company or
any of the Participating Subsidiaries, prior to the expiration of the applicable Performance Period and prior to the lapse of restrictions and delivery of any shares of Common Stock and/or the making of any payment with respect to the Performance
Share Award. 
 6.8.5 Performance Share Fair Market Value. As used in this Article VI, “Performance Share Fair Market Value” of a
Performance Share Unit or a share of Common Stock on any date shall be the average of the daily closing prices for a share of Common Stock for the five (5) consecutive trading days immediately preceding the day in question as reported on the
Composite Tape for New York Stock Exchange Listed Companies and published in the Eastern Edition of The Wall Street Journal. 

  
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 ARTICLE VII 

RESTRICTED STOCK AWARDS 
 SECTION
7.1 GRANTS 
 From time to time and upon the recommendation of the CEO, the Committee may grant Restricted Stock Awards in such number as it
may determine to such Reporting Persons as the Committee may select. From time to time, the CEO may grant in such number as he may determine Restricted Stock Awards to such Nonreporting Persons as he may select; provided, however, each and all such
grants shall be subject to any maximum aggregate number of shares of Restricted Stock established by the Committee for grants under the Plan for Nonreporting Persons as a group. 

SECTION 7.2 RESTRICTED PERIOD 

At the time of a Restricted Stock Award grant, the Committee shall establish (for all Restricted Stock shares which are then being awarded to a
Participant or, if it is the intent that the total of such shares shall be divided into separate parts, for each part of such total) a Restricted Period of not less than one year or more than five (5) years (the “Restriction Range”),
commencing with the Date of Grant of the Award. Different Restricted Periods may be fixed within the Restriction Range for different parts of the shares of Restricted Stock which are being awarded to a Grantee. 

SECTION 7.3 RESTRICTIONS AND FORFEITURE 

The shares of Restricted Stock covered by the Restricted Stock Award granted to a Grantee pursuant to Section 7.1 shall be subject to the
following restrictions until the expiration or termination of the Restricted Period established pursuant to Section 7.2: (i) a Grantee shall not be entitled to delivery of a certificate evidencing the shares of Restricted Stock covered by the
Restricted Stock Award until the expiration or termination of the Restricted Period and the satisfaction of any and all other conditions specified in the Award Commitment applicable to such Restricted Stock shares; (ii) none of the shares of
Restricted Stock may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of during the Restriction Period and until the satisfaction of any and all other conditions specified in the Award Commitment applicable to such
Restricted Stock; and (iii) all of the shares of Restricted Stock shall be forfeited and returned to the Company and all rights of the Grantee with respect to such Restricted Stock shares (including, but not limited to, those specified in Section
7.5) shall terminate without further obligation on the part of the Company unless (x) the Grantee has remained a regular full time employee of the Company or any Participating Subsidiary until the expiration or termination of the Restricted Period
or Periods and (y) the satisfaction of any and all other conditions of the Award Commitment applicable to such Restricted Stock shares. Upon the forfeiture of any shares of Restricted Stock, such forfeited shares shall be transferred to the Company
without further acts by the Grantee. 
 SECTION 7.4 ISSUANCE OF STOCK AND STOCK CERTIFICATE 

7.4.1 Issuance. As soon as practicable after the Date of Grant of a Restricted Stock Award, the Company shall cause to be issued to the Grantee
such number of shares of Common Stock as constitutes the Restricted Stock shares awarded under the Restricted Stock Award. Concurrently, the Company shall cause to be issued a stock certificate or certificates, registered in the name of the Grantee
and dated as of the Date of Grant, evidencing such shares. Each such issuance (of shares and of a stock certificate or certificates) shall be subject throughout the Performance Period to the terms, conditions and restrictions (including forfeiture
and restrictions against transfer provisions of Section 7.3) contained in this Plan and/or the Award Commitment entered into between the registered owner of such shares and the Company, except as otherwise provided in this Plan. Although not a
precondition to the granting of a Performance Share Award, each such issuance shall be subject to forfeiture to the Company as of the Date of Grant if an Award Commitment and a stock power endorsed by the Grantee in blank with respect to the shares
of Restricted Stock covered by the Award under this Article VII are not duly exercised by the Grantee and timely returned to the Company. 

  
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 7.4.2 Custody and Legends. Each certificate for shares of Common Stock issued in respect of the
Restricted Stock Award granted under Section 7.1 shall be held in custody by the Company for the Grantee’s account until the expiration or termination of the applicable Restricted Period (except as provided in Article XII) and the satisfaction
of any and all other conditions of the Award Commitment applicable to such shares of Restricted Stock covered by the Restricted Stock Award. Such certificate shall be imprinted with a legend to indicate that the transferability thereof and the
shares of Common Stock represented thereby are subject to the terms, conditions and restrictions (including forfeiture and restrictions against transfer) contained in this Plan and/or an Award Commitment entered into between the registered owner of
such shares and the Company, a copy of which Plan and Award Commitment is on file in the office of the Company’s Corporate Secretary. Such legend shall not be removed from any stock certificate evidencing such Restricted Stock shares until the
lapse or release of the restrictions as described in Section 7.3. Each certificate also shall be subject to appropriate stop-transfer orders. 

SECTION 7.5 STOCKHOLDER RIGHTS 

Following registration in the Grantee’s name and subject to execution of the documents provided for in Section 7.4, during the Restricted
Period the Grantee shall have the entire beneficial interest in, and all rights and privileges of a stockholder as to, such shares of Common Stock covered by the Restricted Stock Award, including, but not limited to, the right to vote such shares
and the right to receive dividends, subject to the restrictions and forfeitures set forth in Section 7.3. Any shares of Common Stock distributed as a dividend or otherwise with respect to any shares of Restricted Stock as to which the restrictions
have not yet lapsed shall be subject to the same restrictions as such Restricted Stock shares. 
 SECTION 7.6 DELIVERY OF SHARES 

Upon the expiration (without a forfeiture) or earlier termination of the Restriction Period and the satisfaction of or release from any other
conditions by the Grantee under the Plan and/or the Award Commitment with respect to such shares of Restricted Stock, or at such earlier time as provided under the provisions of Article XII and/or Article XIII, all of such shares shall be released
from all restrictions and forfeiture provisions under Section 7.3, any similar restrictions and forfeiture provisions under the Award Commitment applicable to such shares and all other restrictions and forfeiture provisions of this Plan or such
Award Commitment. As promptly as administratively feasible thereafter the Company shall deliver or cause to be delivered to such Grantee a stock certificate or certificates for the appropriate number of shares of Common Stock, free of such
restrictions and forfeitures, except as otherwise provided by Article XIV or imposed by law. No payment will be required from the Grantee upon the delivery of any shares of Restricted Stock, except that amount necessary to satisfy applicable
Federal, state or local tax requirements shall be paid by the Grantee in accordance with the requirements of Section 14.1. 
 ARTICLE VIII

 PHANTOM UNIT AWARDS 
 SECTION
8.1 GRANTS 
 From time to time and upon the recommendation of the CEO, the Committee may grant Phantom Unit Awards in such number as it may
determine to such Reporting Persons as the Committee may select. From time to time, the CEO may grant Phantom Unit Awards in such number as he may determine to such Nonreporting Persons as he may select; provided, however, each and all such grants
shall be subject to any maximum aggregate number of Phantom Units established by the Committee for grants under the Plan for Nonreporting Persons as a group. 

Notwithstanding the above paragraph, the Committee may at its discretion grant Phantom Units payable in one share of Hercules Common Stock for
each unit at the time of vesting pursuant to Section 8.2. In these cases, such Phantom Units are referred to as Restricted Stock Units and during the period that such Restricted Stock Units are awarded, shall be subject to all the provisions of
Section 8.2 except, however, such payment shall be made in shares of Hercules Common Stock as contrasted to cash as provided above. 

  
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 SECTION 8.2 VESTING OF AWARDS 

The amounts credited with respect to each Phantom Unit shall become vested on the date or dates determined and set forth in the applicable
Award Commitment at the time of grant unless vested sooner as described in Article XII of the Plan. The vesting period shall be determined by the Committee, but in no case shall such period be less than one year or more than five (5) years. Vesting
shall be subject to the terms, conditions and provisions hereinafter with respect to forfeiture and termination of Awards or early vesting or forfeiture of Awards in accordance with the provisions of Article XII. 

SECTION 8.3 VALUE OF PHANTOM UNITS PAYMENTS 

The amount payable with respect to each vested Phantom Unit Award shall be the sum of (i) the dividends and interest credited to such account
and (ii) an amount determined by multiplying the number of Phantom Units posted to such account by the Phantom Unit Fair Market Value on the date of vesting. For the purpose of determining such amount the Company shall establish and maintain a
separate memorandum account for each Grantee granted a Phantom Unit Award pursuant to Section 8.1. As of the Date of Grant of each grant of a Phantom Unit Award the Company shall credit to the account of each Grantee who has been granted a Phantom
Unit Award such number of Phantom Units as is specified in the Award. From the Date of Grant until the date that payments under the Plan commence the account of each Grantee shall be credited quarterly with an amount determined by multiplying the
amount of Phantom Units credited to each account by the per share dividend paid quarterly by the Company on its Common Stock. In addition, each account (representing dividends and credited interest) shall be credited quarterly with an amount
determined by multiplying the account balance at the close of each quarter by an amount representing one-fourth of the average per annum rate of interest established by Morgan Guaranty Trust Company (or by such other major New York commercial bank
as the Committee shall designate) in New York from time to time during such quarter as its prime lending rate. As used in this Article VIII, “Phantom Unit Fair Market Value” of a Phantom Unit or a share of Common Stock on any date shall be
the average of the daily closing prices for a share of Common Stock for the five (5) consecutive trading days immediately preceding the day in question as reported on the Composite Tape for New York Stock Exchange Listed Companies and published in
the Eastern Edition of The Wall Street Journal. 
 SECTION 8.4 TIME AND METHOD OF PAYMENT 

Any payment which may become due from the Company upon the vesting of a Phantom Unit shall be paid to the Grantee in cash. The date or dates
upon which amounts determined pursuant to Section 8.3 shall be paid to the Grantee shall be determined by the Committee prior to the Date of Grant and set forth in the applicable Award Commitment or in accord with such rules and regulations as may
be adopted by the Committee. 
 SECTION 8.5 FORFEITURE OF PHANTOM UNITS 

Except as otherwise provided in Article XII, all of the Phantom Units credited to a Grantee’s account (including all dividend equivalents
and interest credited thereto) shall be forfeited and all rights of the Grantee with respect to such Phantom Units (including any dividend equivalents and interest related thereto) shall terminate without further obligation on the part of the
Company unless and until (i) the Grantee has remained a regular full time employee of the Company or any Participating Subsidiary until vesting as described in Section 8.2 and (ii) the satisfaction of any other conditions specified in the Plan
and/or Award Commitment applicable to such Phantom Units, except as may otherwise be determined by the Committee. 
 SECTION 8.6 NATURE OF
PHANTOM UNITS 
 Phantom Units shall be used solely as a device for the measurement and determination of the amount to be paid to Grantees as
provided in the Plan. Phantom Units shall not constitute or be treated as property or as a trust fund of any kind. All amounts at any time attributable to the Phantom Units shall be and remain the sole property of the Company and all Grantees’
rights hereunder are limited to the rights to receive cash and shares of Common Stock as provided in the Plan. 

  
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 ARTICLE IX 

CASH VALUE AWARDS 
 SECTION 9.1
GRANTS 
 From time to time and upon the recommendation of the CEO, the Committee may grant Cash Value Awards in such number as it may
determine to such Reporting Persons as the Committee may select. From time to time, the CEO may grant Cash Value Awards in such number as he may determine to such Nonreporting Persons as he may select; provided, however, each and all such grants
shall be subject to any maximum dollar value established by the Committee for grants under the Plan for Nonreporting Persons as a group. 

SECTION 9.2 PERFORMANCE PERIOD 

At the time of a Cash Value Award grant, the Committee shall establish a Performance Period of not less than one year nor more than five (5)
years, commencing on the Date of Grant of the Award. 
 SECTION 9.3 PERFORMANCE GOALS 

At the time of each grant, the Committee shall establish for all Cash Value Awards the Performance Goals for the Company and any Participating
Subsidiary, while the CEO (or his designee or designees) shall establish for each individual Cash Value Award the business unit, corporate staff group and individual Performance Goals (other than his own which will be the same as the Performance
Goals for the Company), if any. All of the designated Performance Goals must be met as a precondition to any distribution or payment being made with respect to the Cash Value Award following the end of the Performance Period. Except as provided in
Article XII, these Performance Goals (although their measurement, including adjustments, if any, will not occur until after the expiration of the applicable Performance Period) must be met during the continuance of the Grantee’s employment with
the Company or any Participating Subsidiary, prior to the expiration of the applicable Performance Period and prior to the making of any payment with respect to the Cash Value Award. Performance Goals may vary among Grantees and among Awards to a
Grantee. Performance Goals shall be based upon such performance criteria or combination of factors as the Grantor may deem appropriate, including, but not limited to, specified levels of earnings per share, return on investment, return on
stockholders’ equity and such other goals related to the Company’s performance as are deemed appropriate by the Committee. 

SECTION 9.4 PAYOUT SCHEDULE 
 In
tandem with the establishment of the Performance Goals, the Grantor shall establish a Payout Schedule for that Performance Period for each Cash Value Award. Each Payout Schedule shall establish for each Performance Period minimum, target, maximum
and intermediate performance and distribution levels for determining the payout of the Common Stock, if any, of the Cash Value Award at the conclusion of the Performance Period. 

SECTION 9.5 FORM OF PAYOUT 

Payment of a Cash Value Award shall be made in cash, Common Stock, Restricted Stock or any combination thereof as determined by the Grantor at
the time of the Payout. Restricted Stock shall be governed by Articles VII and XII; provided, however, that Restricted Stock granted at less than Fair Market Value shall also be governed by Section 9.6 and the Attributable Shares (defined below)
shall be governed by Section 13.3. 
 SECTION 9.6 CALCULATION OF PAYOUT 

As soon as practicable after the Performance Period expires with respect to the Cash Value Award, the Grantor shall determine whether and the
extent to which any Performance Goals were achieved during the Performance Period. The Grantor may also determine the amount and form of the Payout. If the Payout is to be paid in Restricted Stock, then the number of shares calculated by the Grantor
may be determined by using either 100% or 85% (as determined by the Committee) of the Fair Market Value on the date of issue. If the Grantor uses 85% of the Fair Market Value, then those shares attributable to the discount (i.e., 100% minus 85%)
(the “Attributable Shares”) shall be subject to the forfeiture provisions under Section 13.3; and otherwise, the Restricted Stock shall be subject to forfeiture under Article XII. 

  
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 ARTICLE X 

OTHER AWARDS 
 SECTION 10.1 OTHER
MARKET-BASED AWARDS 
 The Grantor may grant other Market-Based Awards, provided that the purchase price or base price for the equity
securities of the Company shall in no event be less than 100% of the Fair Market Value of such security on the Date of Grant. Such Other Market-Based Awards shall be in a form determined by the Committee, and the Committee shall have complete
authority to determine the terms, conditions and restrictions of the awards, not inconsistent with the terms of the Plan. The Committee, upon recommendation of the CEO, shall determine the time or times at which such Other Market-Based Awards shall
be made. Any such Other Market-Based Award shall be confirmed by an Award Commitment executed by the Company and the Grantee, which Agreement shall contain such provisions as the Committee determines to be necessary or appropriate to carry out the
intent of the Plan with respect to such Award. 
 SECTION 10.2 OTHER PERFORMANCE-BASED AWARDS 

The Grantor may grant Other Performance-Based Awards. Such Other Performance-Based Awards shall be in a form determined by the Committee, and
the Committee shall have complete authority to determine the terms, conditions and restrictions of the awards, not inconsistent with the terms of the Plan. The Committee, upon recommendation of the CEO, shall determine the time or times at which
such Other Performance-Based Awards shall be made. Any such Other Performance-Based Award shall be confirmed by an Award Commitment executed by the Company and the Grantee, which Agreement shall contain such provisions as the Committee determines to
be necessary or appropriate to carry out the intent of the Plan with respect to such Award. 
 SECTION 10.3 TERMS OF OTHER AWARDS 

In addition to the terms and conditions specified in the Award Commitment, awards made pursuant to this Article X shall be subject to the
following: 
 (a) Any shares of Common Stock subject to Awards made under this Article X may not be sold, assigned,
transferred, pledged or otherwise encumbered prior to the date on which the shares are issued, or, if later, the date on which any applicable restriction or performance period lapses; and 

(b) If specified by the Committee in the Award Commitment, the recipient of an Award under this Article X shall be entitled to
receive, currently or on a deferred basis, interest or dividends or dividend equivalents with respect to the Common Stock covered by the Award; and 

(c) The Award Commitment with respect to any Award shall contain provisions dealing with the disposition of such Award in the
event of a termination of employment prior to the exercise, realization or payment of such Award, whether such termination occurs because of retirement, disability, death or other reason, with such provisions to take account of the specific nature
and purpose of the Award. 
 SECTION 10.4 STOCK OPTION DIVIDEND EQUIVALENTS. 

10.4.1 Grants. The Grantor may provide that a Grantee to whom an Option has been granted which is exercisable in whole or in part at a future
time for shares of Common Stock (referred to in this subsection as “Share” or “Shares”) shall be entitled to receive an amount per Share equal in value to the cash dividends, if any, paid per Share on issued and outstanding
Shares, as of the dividend record dates occurring during the period between the Date of Grant and the time each such Share is delivered pursuant to exercise of such Stock Option or the related Stock Appreciation Right. Such amounts (herein called
“Dividend Equivalents”) shall be paid in cash at the time of the delivery of such Shares. 

  
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 10.4.2 Interest. The Grantor may authorize payment of interest on Dividend Equivalents. The
interest will be payable in cash at the same time the related Dividend Equivalents are paid. 
 10.4.3 Forfeiture. To the extent the Stock
Options to which Dividend Equivalents and interest are related shall be forfeited all accrued Dividend Equivalents and interest thereon shall also be forfeited. 

ARTICLE XI 
 SUBSTITUTION AWARDS

 SECTION 11.1 SUBSTITUTION OF PERFORMANCE SHARES 

Upon the request of the Grantee, the Committee may grant Restricted Stock Awards in substitution for such numbers of shares of Common Stock of
equal value held in custody pursuant to Section 6.5 whose restrictions shall lapse upon expiration or other termination of a Performance Period. The number of Performance Shares available for substitution shall be determined by the method described
in Section 11.3. Such Substitution Awards shall be subject to such Restricted Periods and other terms, conditions and restrictions as the Committee may from time to time determine. No substitution shall be permitted after termination of employment,
regardless of the reason for termination. Once substitution has been approved by the Committee, no payment will be made with respect to an original Award. 

SECTION 11.2 SUBSTITUTION OF RESTRICTED STOCK 

Upon request of the Grantee, the Committee may grant Restricted Stock Awards in substitution for shares of Restricted Stock previously awarded
either under this Plan or under the Hercules Incorporated Restricted Stock Plan of 1986. Such Awards shall be subject to such Restricted Periods and other terms, conditions and restrictions as the Committee may from time to time determine. No
substitution shall be permitted after termination of employment, regardless of the reason for termination. 
 SECTION 11.3 SUBSTITUTION
PROCEDURES 
 Any request of a Grantee pursuant to Section 11.1 or 11.2 shall be filed in writing with the Committee in accordance with such
rules and regulations, including any deadline for the making of such request, as the Committee may provide. No substitution shall be permitted past any termination of employment described in Article XII or past the occurrence of any of the events
specified in clauses (i), (ii) and (iii) of Section 14.4. 
 SECTION 11.4 SUBSTITUTIONS IN CONTEMPLATION OF RETIREMENT 

Prior to the expiration of the Performance Period or Restricted Period applicable to any Performance Shares or Restricted Stock Awards granted
to a Grantee prior to January 1, 1995, such Grantee may, with the consent of the Committee, surrender all or a portion of his Award in substitution for Phantom Unit Awards subject to the terms and conditions of Article VIII, and provided that: (i)
such surrender shall be treated as a forfeiture under the Plan; (ii) such substitution shall be made for retirement planning purposes; (iii) such substitution shall be made prior to December 31 of the year preceding the Grantee’s Normal
Retirement Date but not more than one year prior to the Grantee’s Normal Retirement Date; or, in cases where Retirement with consent occurs prior to the Grantee’s Normal Retirement Date, not less than sixty (60) nor more than three hundred
and sixty (360) days before an announced Retirement approved by the Company; and (iv) any Phantom Units shall be substituted as of the expiration date of the applicable Performance Period in an amount consistent with the number of shares calculated
for each Award being substituted. 

  
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 ARTICLE XII 

TERMINATION OF EMPLOYMENT 
 12.1
RETIREMENT 
 12.1.1 Stock Options and SARs. If prior to the expiration of the Option Period a Grantee who has been given an Option or SAR
under the Plan shall cease to be employed by the Company, any Participating Subsidiary or Related Entity because of his Retirement, (i) in the case of Nonqualified Options (except PASOs) and their related SARs, each Option and SAR shall become
immediately exercisable and shall remain exercisable for a period of five (5) years from the date of cessation of employment (with respect to options granted prior to May 1, 1994, the period shall be three (3) years from the date of cessation of
employment), but not beyond the end of the Option Period, and (ii) in the case of ISOs and their related SARs, each Option and SAR shall, at such time as it becomes exercisable under the Award Commitment covering such Option, remain exercisable for
a period of three (3) months from the cessation of employment, but not beyond the end of the Option Period. 
 12.1.2 Performance Share,
Restricted Stock, Phantom Unit, and Cash Value Awards. If prior to the expiration of the Performance or Restricted Period a Grantee who has been given a Performance Share, Restricted Stock, Phantom Unit or Cash Value Award under the Plan shall cease
to be employed by the Company, any Participating Subsidiary or Related Entity because of his Retirement, (i) that Grantee shall be entitled to Performance Shares or Cash Value at the end of the Performance Period based upon the extent to which the
Performance Goals were satisfied at the end of such period (provided, however, the Committee may provide for an earlier payment in settlement of such Performance Shares in such amount and under such terms and conditions as the Committee deems
appropriate or desirable); and (ii) all remaining restrictions with respect to such Grantee’s Restricted Stock and Phantom Unit Awards shall lapse as of the date of termination. 

12.1.3 Performance Accelerated Stock Options. If prior to the expiration of the PASO Period a Grantee who has been given a PASO Award under
the Plan shall cease to be employed by the Company, any Participating Subsidiary or Related Entity because of his Retirement, that Grantee shall be entitled to PASOs as follows: If the PASOs are exercisable on the date of Retirement, then the PASOs
will remain exercisable until the earlier of five (5) years or the end of the PASO period; if the PASOs are not yet exercisable, then they shall become exercisable at the earlier of (i) such time as the PASOs become exercisable through acceleration
due to performance, or (ii) four and one-half (4.5) years after Retirement regardless of performance, or (iii) the end of nine and one-half (9.5) years from the award date. Once the PASOs become exercisable, they shall remain exercisable until the
earlier of five (5) years after Retirement or the end of the PASO period, provided, however, the Grantor may provide for acceleration of the vesting date and/or an earlier settlement of such PASOs under such terms and conditions as the Grantor deems
appropriate or desirable. 
 12.1.4 Restricted Stock Unit. If prior to the expiration of the restriction period for a Restricted Stock Unit,
a grantee who has been granted a Restricted Stock Unit under the Plan, shall cease to be employed by the Company, any participating subsidiary or related entity because of his retirement, that grantee at his election no less than 60 days prior to
his designated retirement date, be entitled to defer the payout of such Restricted Stock Units to a future designated date and on such date all remaining restrictions with respect to such grantee“s Restricted Stock shall lapse as of such
designated date and shares shall be distributed to such grantee plus accrued dividend equivalents, plus interest thereon, or if no such election is filed, all remaining restrictions with respect to such grantee“s Restricted Stock shall lapse on
the date of termination and such shares shall be distributed along with accrued dividend equivalents, plus interest thereon. 
 SECTION 12.2
REDUCTION IN FORCE 
 12.2.1 Stock Options and SARs. If prior to the expiration of the Option Period a Grantee who has been given a Option or
SAR under the Plan shall cease to be employed by the Company or any Participating Subsidiary because of a Reduction in Force, (i) in the case of Nonqualified Options (except PASOs) and their related SARs, each Option and SAR shall become immediately
exercisable and shall remain exercisable for a period of one year from the date of cessation of employment, but not beyond the end of the Option Period, and (ii) in the case of an ISO, each Option and SAR shall, at such time as it becomes
exercisable under the Award Commitment covering such Option, remain exercisable for a period of three (3) months from the cessation of employment, but not beyond the end of the Option Period. 

  
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 12.2.2 Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit and Cash Value
Awards. If prior to the expiration of the Performance or Restricted Period a Grantee who has been given a Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit or Cash Value Award under the Plan shall cease to be employed by the
Company or any Participating Subsidiary because of a Reduction in Force, (i) that Grantee shall be entitled to a Minimum Award of Performance Shares or Cash Value at the end of the Performance Period prorated for the portion of the Performance
Period during which the Grantee was employed by the Company, any Participating Subsidiary (provided, however, the Committee may provide for an earlier payment in settlement of such Performance Shares or Cash Value in such amount and under such terms
and conditions as the Committee deems appropriate or desirable); and (ii) all remaining restrictions with respect to such Grantee’s Restricted Stock, Restricted Stock Unit and Phantom Unit Awards shall lapse, in an amount prorated for the
amount of time such Awards have remained under restriction, as of the date of termination. 
 12.2.3 Performance Accelerated Stock Options.
If prior to the expiration of the PASO Period a Grantee who has been given a PASO Award under the Plan shall cease to be employed by the Company or any Participating Subsidiary because of a Reduction in Force, the Grantor shall determine the timing,
terms and conditions of the exercise of the Award as the Grantor deems appropriate or desirable except that no PASO may be exercised beyond the end of the PASO Period. 

SECTION 12.3 TRANSFERS TO CERTAIN RELATED ENTITIES 

12.3.1 Stock Options and SARs. If prior to the expiration of the Option Period a Grantee who has been given a Option or SAR under the Plan
shall cease to be employed by the Company or any Participating Subsidiary because of a transfer to a Related Entity, (i) in the case of Nonqualified Options (except PASOs) and their related SARs, each Option and SAR shall become immediately
exercisable and shall remain exercisable for a period of three (3) years from the date of cessation of employment, but not beyond the end of the Option Period, and (ii) in the case of an ISO, each Option and SAR shall, at such time as it becomes
exercisable under the Award Commitment covering such Option, remain exercisable for a period of three (3) months from the cessation of employment, but not beyond the end of the Option Period. 

12.3.2 Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit and Cash Value Awards. If prior to the expiration of the
Performance or Restricted Period a Grantee who has been given a Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit or Cash Value Award under the Plan shall cease to be employed by the Company or any Participating Subsidiary
because of a transfer to a Related Entity, then all restrictions with respect to such Performance Shares, Restricted Stock, Restricted Stock Unit or Phantom Units shall remain in effect until the end of the Performance or Restricted Period;
provided, however, the Grantor may provide as the case may be for an earlier payment in settlement of such Performance Shares, Restricted Stock, Restricted Stock Units or Phantom Units and for payment of Cash Value Awards, all in such amount and
under such terms and conditions as the Grantor deems appropriate or desirable. 
 12.3.3 Performance Accelerated Stock Options. If prior to
the expiration of the PASO Period a Grantee who has been given a PASO Award under the Plan shall cease to be employed by the Company or any Participating Subsidiary because of a transfer to a Related Entity, the Grantor shall determine the timing,
terms and conditions of the exercise of the Award as the Grantor deems appropriate or desirable except that no PASO may be exercised beyond the end of the PASO Period. 

SECTION 12.4 DISABILITY OR DEATH 

12.4.1 Stock Options and SARs. If prior to the end of the Option Period a Grantee who has been granted a Option shall cease to be employed by
the Company, any Participating Subsidiary or Related Entity by reason of Death or Disability, (i) in the case of Nonqualified Options (excluding PASOs) and their related SARs, each Option and SAR shall become immediately exercisable and shall remain
exercisable for a period of one year from the date 

  
 24 

 
of cessation of employment, but not beyond the end of the Option Period, and (ii) in the case of an ISO, each Option and SAR shall, at such time as it becomes exercisable under the Award
Commitment covering such Option, remain exercisable for a period of one year from the cessation of employment, but not beyond the end of the Option Period. Notwithstanding the foregoing, the Committee may, in its sole discretion, on a case-by-case
basis, determine for new Options, or extend for outstanding Options, the period during which the Options may be exercised after the Grantee dies or suffers a Disability, provided that such post-termination exercise period may not extend beyond the
expiration of the stated Option Period. 
 12.4.2 Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit and Cash Value
Awards. If prior to the expiration of the Performance or Restricted Period a Grantee who has been given a Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit and Cash Value Award under the Plan shall cease to be employed by the
Company, any Participating Subsidiary or Related Entity by reason of Death or Disability, (i) that Grantee shall be entitled to Performance Shares or Cash Value (paid in cash) at the Target Award level on the date of termination; and (ii) all
remaining restrictions with respect to such Grantee’s Restricted Stock, Restricted Stock Unit, and Phantom Unit Awards shall lapse as of the date of termination. 

12.4.3 Performance Accelerated Stock Options. If prior to the expiration of the PASO Period, a Grantee who has been given a PASO Award under
the Plan shall cease to be employed by the Company, any Participating Subsidiary or Related Entity because of Disability or Death, then such Grantee (or the Beneficiary of such Grantee) shall be entitled to PASOs as follows: if the PASOs are
exercisable on the date of such Disability or Death, then the PASOs will remain exercisable until the earlier of one (1) year or the end of the PASO Period; if the PASOs are not yet exercisable, then they shall become exercisable at the earlier of
(i) such time as the PASOs become exercisable through acceleration due to performance, or (ii) six (6) months after such Disability or Death, or (iii) nine and one-half (9.5) years from the award date. Once the PASOs become exercisable, they shall
remain exercisable until the earlier of one (1) year after or the end of the PASO Period. Notwithstanding the foregoing, the Committee may, in its sole discretion, on a case-by-case basis, determine for new PASOs, or extend for outstanding PASOs,
the period during which the PASOs may be exercised after the Grantee dies or suffers a Disability, provided that such post-termination exercise period may not extend beyond the expiration of the stated PASO Period. 

SECTION 12.5 RESIGNATION 
 12.5.1
Stock Options, SARs and Performance Accelerated Stock Options. If the Grantee shall voluntarily resign before eligibility for Retirement (except for Retirement with approval of the Company), the Options (including PASOs) and SARs granted in tandem
shall be canceled coincident with the effective date of the termination of employment. 
 12.5.2 Performance Share, Restricted Stock,
Restricted Stock Unit, Phantom Unit and Cash Value Awards. If prior to the expiration of the Performance or Restricted Period a Grantee who has been given a Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit or Cash Value Award
under the Plan shall voluntarily resign (except for Retirement with approval of the Company), then all Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit and Cash Value Awards theretofore awarded to such Grantee as to which
there still remains an unexpired portion of the Performance or Restricted Period or the vesting period shall, upon such termination of employment, be forfeited by such Grantee to the Company, without the payment of any consideration by the Company.
Thereafter, neither the Grantee nor any heirs, assigns or personal representatives of such Grantee shall have any further rights or interest in such Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit or Cash Value Awards, and
the Grantee’s name shall thereupon be deleted from the list of the Company’s stockholders with respect to such Performance Shares, Restricted Stock, Restricted Stock Units, Phantom Units or Cash Value Award. Notwithstanding any other
provisions of this Subsection 12.5.2, the value of any vested and deferred Phantom Units shall be paid to the Grantee as soon as practicable. 

  
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 SECTION 12.6 DECREASE IN COMPANY OWNERSHIP 

12.6.1 Stock Options and SARs. If prior to the expiration of the Option Period a Grantee who has been given an Option or SAR under the Plan
shall cease to be employed by any Participating Subsidiary because of a decrease in the Company’s ownership interest in a Participating Subsidiary to below 50% but at or above 20%, (i) in the case of Nonqualified Options (except PASOs) and
their related SARs, each Option and SAR shall become immediately exercisable and shall remain exercisable for a period of three (3) years from the date of cessation of employment, but not beyond the end of the Option Period, and (ii) in the case of
an ISO, each Option and SAR shall, at such time as it becomes exercisable under the Award Commitment covering such Option, remain exercisable for a period of three (3) months from the cessation of employment, but not beyond the end of the Option
Period. 
 12.6.2 Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit and Cash Value Awards. If prior to the expiration
of the Performance or Restricted Period a Grantee who has been given a Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit or Cash Value Award under the Plan shall cease to be employed by any Participating Subsidiary because of
a decrease in the Company’s ownership interest in a Participating Subsidiary to below 50% but at or above 20%, then all restrictions with respect to such Performance Shares, Restricted Stock, Restricted Stock Units or Phantom Units shall remain
in effect until the end of the Performance Period or Restricted Period; provided, however, the Committee may provide, as the case may be, for an earlier payment in settlement of such Performance Shares, Restricted Stock, Restricted Stock Units or
Phantom Units and for payment of Cash Value Awards, all in such amount and under such terms and conditions as the Committee deems appropriate or desirable or make any other adjustment deemed appropriate due to the decrease in Company ownership. 

12.6.3 Performance Accelerated Stock Options. If prior to the expiration of the PASO Period a Grantee who has been given a PASO Award under
the Plan shall cease to be employed by the Company or any Participating Subsidiary because of a decrease in company ownership, the Grantor shall determine the timing, terms and conditions of the exercise of the Award as the Grantor deems appropriate
or desirable except that no PASO may be exercised beyond the end of the PASO Period. 
 SECTION 12.7 TERMINATION OF EMPLOYMENT FOR OTHER
REASONS 
 12.7.1 Stock Options, SARs and Performance Accelerated Stock Options. If the Grantee’s employment terminates for any reason
other than specified in Sections 12.1, 12.2, 12.3, 12.4, 12.5 or 12.6, each Option, SAR and PASO shall terminate; provided, however, the Grantor may provide for acceleration of the vesting date and/or an earlier settlement of such PASOs in such
amount and under such terms and conditions as the Grantor deems appropriate or desirable. 
 12.7.2 Performance Share, Restricted Stock,
Restricted Stock Unit, Phantom Unit and Cash Value Awards. If prior to the expiration of the Performance or Restricted Period a Grantee who has been given a Performance Share, Restricted Stock, Restricted Stock Unit, Phantom Unit or Cash Value Award
under the Plan shall cease to be employed by the Company, any Participating Subsidiary or Related Entity because of any reason other than specified in Sections 12.1, 12.2, 12.3, 12.4, 12.5 or 12.6, then all Performance Share, Restricted Stock,
Restricted Stock Unit, Phantom Unit and Cash Value Awards theretofore awarded to such Grantee as to which there still remains an unexpired portion of the Performance or Restricted Period shall, upon such termination of employment, be forfeited by
such Grantee to the Company, without the payment of any consideration by the Company; provided, however, the Grantor may provide for settlement of a Cash Value Award in such amount, at such time and under such terms and conditions as the Grantor
deems appropriate or desirable. Thereafter, neither the Grantee nor any heirs, assigns or personal representatives of such Grantee shall have any further rights or interest in such Performance Share, Restricted Stock, Restricted Stock Unit, Phantom
Unit or Cash Value Awards, and the Grantee’s name shall thereupon be deleted from the list of the Company’s stockholders with respect to such Performance Shares or Restricted Stock. Notwithstanding any other provisions of this Subsection
12.7.2, the value of any vested and deferred Phantom Units shall be paid to the Grantee as soon as practicable. 
 SECTION 12.8 TERMINATION
DATE 
 Termination of employment of a Grantee for any of the reasons enumerated in this Article XII shall, for purposes of the Plan, be
deemed to have occurred as of the date which is recorded in the ordinary course in the Company books and records in accordance with the then-prevailing procedures and practices of the Company. 

  
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 SECTION 12.9 REPORTING PERSON LIMITATION 

Notwithstanding any other provision of this Article XII, a Grantee who ceases to be a Reporting Person through retirement or any other
termination of employment shall not be entitled to exercise a SAR. 
 ARTICLE XIII 

EXCHANGE AWARDS; ABOVE TARGET MICP AWARDS 

SECTION 13.1 SALARY/BONUS REDUCTIONS 

13.1.1 Restricted Stock. A Grantee (including those described in Section 13.8) may elect to reduce and defer his or her current or future Base
Salary and/or earned Bonus and, thereafter, exchange such deferred amounts for Restricted Stock. Such elections shall direct deferrals and exchanges on a one-time (annual) basis or, in the alternative in the case of Base Salary, on an ongoing basis
covering a period not exceeding five (5) years. Should a Grantee elect a one-time (annual) exchange, the deferred amounts shall be credited to his or her deferred compensation account under this Plan and, thereafter, on the third (3rd) business day
following the public announcement of the Company’s annual earnings, the deferred amounts shall be exchanged for that number of shares of Restricted Stock that equals the number of whole shares determined by dividing the deferred amount forgone
by 85% of the Fair Market Value of one share of Common Stock on the date of the exchange. Should a Grantee elect an exchange of Base Salary on an ongoing basis for a period of one year or less, the number of shares of Restricted Stock he or she
shall acquire through such exchanges, which shall be effected on the third (3rd) business day following the public announcement of the Company’s annual earnings, shall be determined by dividing the total projected deferred amounts forgone for
the designated period by 85% of the Fair Market Value of one share of Common Stock on the date of the exchange. When the elected period extends beyond one year, the number of shares of Restricted Stock acquired through such exchanges, which shall be
effected on the third (3rd) business day following the public announcement of the Company’s annual earnings, shall equal that number of whole shares of Restricted Stock determined by dividing the discounted present value of the total projected
deferred amounts forgone for the designated period (using the appropriate Treasury Bill rates for the applicable period) by 85% of the Fair Market Value of one share of Common Stock on the date of the exchange. Restricted Stock acquired pursuant to
exchanges under this Subsection 13.1.1 shall have a Restricted Period of not less than three (3) years (such Restricted Period to be extended up to five (5) years to coincide with a deferral election that extends beyond three (3) years), as
determined by the Committee, and shall be subject to all of the terms, conditions and provisions of Article VII, except as may otherwise be determined by the Committee prior to their acquisition. 

13.1.2 Options. A Grantee may elect to reduce and defer his or her current or future Base Salary and/or earned Bonus and, thereafter, exchange
such deferred amounts for Nonqualified Options. Such elections shall direct deferrals and exchanges on a one-time (annual) basis or, in the alternative in the case of Base Salary, on an ongoing basis covering a period not exceeding five (5) years.
Should a Grantee elect a one-time (annual) exchange, the deferred amounts shall be credited to his or her deferred compensation account under this Plan and, thereafter, on the third (3rd) business day following the public announcement of the
Company’s annual earnings, the deferred amounts shall be exchanged for that number of Options as is determined by the Committee, in its discretion, to be the equivalent in value of that number of whole shares of Restricted Stock determined by
dividing the deferred amount forgone by 85% of the Fair Market Value of one share of the Common Stock on the date of the exchange. Should a Grantee elect an exchange of Base Salary on an ongoing basis for a period of one year or less, the number of
Options he or she shall acquire through such exchanges is that number of Options as is determined by the Committee, in its discretion, to be the equivalent in value of that number of whole shares of Restricted Stock determined by dividing the total
projected deferred amount forgone for the designated period by 85% of the Fair Market Value of one share of Common Stock on the date of the exchange. When the elected period extends beyond one year, the Options acquired through such exchanges, which
shall be effected on the third (3rd) business day following the public announcement of the Company’s annual earnings, shall be that number of Options determined by the Committee, in its discretion, to be the equivalent in value of that number
of whole shares of Restricted Stock determined by dividing the discounted present value of the total projected deferred amounts forgone for the designated period (using the appropriate Treasury Bill rates for the applicable period) by 85% of the
Fair Market Value of one share of the Common Stock on the date of the exchange. Options acquired pursuant to this Subsection 13.1.2 shall be exercisable according to the following three (3)-year schedule (unless the Grantee’s employment with
the Company or a Participating Subsidiary is terminated, in which case the provisions of Section 13.3 or Article XII, as apposite, shall govern): 

40% of the Options will be exercisable beginning one year after the exchange, a second 40% of the Options will be exercisable beginning two (2)
years after the exchange, and the final 20% of the Options will be exercisable beginning three (3) years after the exchange; 

  
 27 

 and shall be subject to all of the terms, conditions and provisions of Article V (as modified as to
exercisability by this Subsection 13.1.2), except as may otherwise be determined by the Committee prior to their acquisition. 
 SECTION
13.2 DEFERRED ACCOUNTS 
 13.2.1 Deferred Compensation Plan Accounts. Subject to the Company’s approval, amounts accrued under the
Hercules Incorporated Deferred Compensation Plan (other than under the Hercules Incorporated Non-qualified Savings Plan portion thereof) may, upon the Grantee’s request for a one-time (annual) exchange, be surrendered in exchange for Restricted
Stock and/or Nonqualified Options. The number of shares of Restricted Stock and Options acquired in this manner shall be determined in the same manner as is specified in Subsections 13.1.1 and 13.1.2, respectively, and all Restricted Stock and
Options so acquired shall be subject to all of the terms, conditions and provisions of Subsections 13.1.1 and 13.1.2, respectively. Exchanges under this Subsection 13.2.1 shall be effected the third (3rd) business day after the first public
announcement of the Company’s annual earnings. 
 13.2.2 Non-Qualified Savings Plan Accounts. Subject to the Company’s approval,
amounts accrued under the Hercules Incorporated Non-Qualified Savings Plan portion of the Hercules Deferred Compensation Plan may, upon the Grantee’s request for a one-time (annual) exchange, be surrendered in exchange for Restricted Stock
and/or Nonqualified Options. The number of shares of Restricted Stock and Options acquired in this manner shall be determined in the same manner as is specified in Subsections 13.1.1 and 13.1.2, respectively, except that the computation in each case
shall be based on 100% of the Fair Market Value of one share of Common Stock rather than the 85% of the Fair Market Value specified in Subsections 13.1.1 and 13.1.2. All Restricted Stock and Options so acquired shall be subject to all of the terms,
conditions and provisions of Subsections 13.1.1 and 13.1.2, respectively. Exchanges under this Subsection 13.2.2 shall be effected the third (3rd) business day after the first public announcement of the Company’s annual earnings. 

SECTION 13.3 TERMINATION OF EMPLOYMENT 

13.3.1 Death, Disability and Reduction in Force. Notwithstanding any provisions of Sections 12.2 and 12.4 to the contrary: 

(a) If prior to the expiration of an applicable Restricted Period a Grantee who has received Restricted Stock pursuant to
Subsections 13.1.1, 13.2.1 and/or 13.2.2 shall cease to be employed by the Company by reason of Death, Disability, Reduction in Force or Retirement directly attributable to a Reduction in Force, all restrictions and forfeiture provisions under this
Plan with respect to the Restricted Stock exchanged pursuant to this Article XIII shall lapse as of the date of termination of employment and delivery of such shares shall be governed by the provisions of Section 7.6. 

(b) If prior to the expiration of an applicable Option Period a Grantee who has received Options pursuant to Subsections
13.1.2, 13.2.1 and/or 13.2.2 shall cease to be employed by the Company by reason of Death, Disability, Reduction in Force or Retirement directly attributable to a Reduction in Force, the Option Period shall be adjusted to the lesser of the remaining
Option Period or one year from the date of employment termination. Notwithstanding the foregoing, the Committee may, in its sole discretion, on a case-by-case basis, determine for new Options, or extend for outstanding Options, the period during
which the Options may be exercised after the Grantee dies or suffers a Disability, provided that such post-termination exercise period may not extend beyond the expiration of the stated Option Period. 

  
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 13.3.2 Retirement. Notwithstanding any provisions of Section 12.1 to the contrary: 

(a) In the event of Retirement (not directly attributable to a Reduction in Force) by a Grantee who has received Restricted
Stock pursuant to Subsections 13.1.1, 13.2.1 and/or 13.2.2 prior to the expiration of an applicable Restricted Period, that number of shares of Restricted Stock equal to the amount attributable to the 15% discount made available under this Article
XIII, and prorated for the length of time remaining in the Restricted Period, shall be forfeited and returned to the Company. 

(b) If prior to the expiration of an applicable Option Period a Grantee who has received Options pursuant to Subsections
13.1.2, 13.2.1 and/or 13.2.2 shall cease to be employed by the Company by reason of his or her Retirement (not directly related to a Reduction in Force), the Option Period shall be adjusted to the lesser of the remaining Option Period or five (5)
years from the date of termination. In the event of Retirement (not directly attributable to a Reduction in Force) by a Grantee who has received Options pursuant to Subsections 13.1.2, 13.2.1 and/or 13.2.2, a number of Options equal to the amount
attributable to the 15% discount and prorated for the length of time remaining in the period during which Options may not be exercised shall be forfeited. 

13.3.3 Resignation or Termination for Cause. Notwithstanding any provisions of Sections 12.5 and 12.7 to the contrary: 

(a) In the event a Grantee who has received Restricted Shares pursuant to Subsections 13.1.1, 13.2.1 and/or 13.2.2 voluntarily
resigns (except for retirement with approval of the Company) or terminates employment for reasons other than any of those specified in Sections 12.1, 12.2, 12.3, 12.4 and 12.6 prior to the expiration of an applicable Restricted Period, all shares of
Restricted Stock shall be forfeited and returned to the Company and such Grantee shall receive a payment equal to the lower of the Fair Market Value of the Restricted Shares forfeited or the original amount exchanged. 

(b) In the event a Grantee who has received Options pursuant to Subsections 13.1.2, 13.2.1 and/or 13.2.2 voluntarily resigns
(except for retirement with approval of the Company) or terminates employment for reasons other than any of those specified in Sections 12.1, 12.2, 12.3, 12.4 and 12.6 prior to the expiration of the applicable Option Period, all Options shall be
forfeited and returned to the Company and such Grantee shall receive a payment equal to the lower of a value (as determined by the Committee) of the Options forfeited or the original amount exchanged. 

SECTION 13.4 AVOIDANCE OF PENSION DIMINUTION 

13.4.1 Governing Provisions. Grantees electing Base Salary and/or Bonus reductions under Section 13.1 may suffer a permanent diminution of
their qualified pension entitlement under the Hercules Pension Plan. To offset this diminution in part, exchange awards in respect of pensions otherwise payable as nonqualified pensions (as measured from the date of the APD Election defined next
below) may be requested within five (5) years of anticipated retirement. Subject to the Committee’s approval of such a request, all such exchanges shall be effected in accordance with the provisions of this Section 13.4. 

13.4.2 Exchange Awards. A Grantee who is within five (5) years (but not less than one year) of his or her anticipated retirement date may
elect (“APD Election”) to exchange the present value (as of the date of the APD Election) of his or her projected benefits payable as of the Designated Retirement Date (as defined below) under the Hercules Pension Restoration Plan
(utilizing the method and assumptions used to convert a pension to a partial cash payment under the Hercules Pension Plan) for Restricted Stock issuable under Subsection 13.1.1 and/or Options granted under Subsection 13.1.2. Restricted Stock and/or
Options received in such an exchange shall be in substitution of any pension entitlements under the Hercules Pension Restoration Plan, the rights to such entitlements being forfeited and canceled in consideration of such exchange. 

  
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 13.4.3 Designated Retirement Date. As a part of his or her APD Election, a Grantee shall
designate a retirement date (“Designated Retirement Date”). In the event of any termination of employment prior to the Designated Retirement Date, the following will apply: 

(a) If the Grantee elected Restricted Stock, that number of Restricted Stock shares shall be forfeited as has a value (on the
date of his or her APD Election) equivalent to the present value determined for purposes of Subsection 13.4.2 minus the present value (as of the APD Election date) of the amount due under the Hercules Pension Restoration Plan as of the date of
actual retirement, utilizing the method and assumptions used to convert a pension to a partial cash payment under the Hercules Pension Plan. Further, in the event that the Grantee’s actual retirement date occurs within three (3) years of the
APD Election, the Grantee shall forfeit that number of Restricted Stock shares (adjusted by the preceding sentence) attributable to the 15% discount made available under Subsection 13.1.1 and prorated for the length of time remaining in the three
(3)-year period commencing with the date of the APD Election. 
 (b) If the Grantee elected Nonqualified Options, that number
of Options shall be forfeited as the Committee in its discretion shall determine has a value (on the date of his or her APD Election) equivalent to the present value determined for purposes of Subsection 13.4.2 minus the present value (as of the
date of his or her APD Election) of the amount due under the Hercules Pension Restoration Plan as of the date of actual retirement, utilizing the method and assumptions used to convert a pension to a partial cash payment under the Hercules Pension
Plan. Further, in the event that the Grantee’s actual retirement date occurs within three (3) years of the APD Election, the Grantee shall forfeit that number of Options as the Committee in its discretion shall determine has a value equal to
that number of Restricted Stock shares (adjusted by the preceding sentence) attributable to the 15% discount made available under Subsection 13.1.2 and prorated for the length of time remaining in the period commencing with the date of the APD
Election. 
 (c) Notwithstanding (a) and (b) next above, in the event of the Grantee’s death, Disability or termination
of employment with the consent of the Company, the Committee may, in its discretion, waive any forfeitures otherwise applicable under this Subsection 13.4.3. 

SECTION 13.5 IRREVOCABILITY 
 Any
election under Sections 13.1, 13.2 or 13.4 shall be irrevocable. 
 SECTION 13.6 EQUIVALENCY 

Notwithstanding any provision in this Article XIII to the contrary, all elections under this Article XIII that involve an exchange of future
compensation or pension benefit entitlement shall in each instance be equalized (that is, recalculated using actual numbers) at the expiration of the period elected or termination of employment and forfeiture shall be applied, if appropriate. 

SECTION 13.7 MICP AWARDS 
 Any
payout under the Management Incentive Compensation Plan for performance above the target level Performance Goals for any Performance Period shall be in that number of whole shares of Restricted Stock obtained by dividing the dollar value of the
payout by 85% of the Fair Market Value of one share of Common Stock on the date of such award. Restricted Stock acquired pursuant to this Section 13.7 shall be subject to all of the terms, conditions and provisions of Article VII and Article XIII,
except as may otherwise be determined by the Committee prior to the Date of Award. 
 SECTION 13.8 DEFINITION 

For purposes of this Article XIII, the term “Grantee” includes all employees of the Company or any Participating Subsidiary who are
designated by the CEO to be eligible for purposes of this Article XIII. 

  
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 ARTICLE XIV 

CERTAIN TERMS APPLICABLE TO ALL AWARDS 

SECTION 14.1 WITHHOLDING TAXES 

The Company shall withhold (or secure payment from the Grantee in lieu of withholding) the amount of any withholding or other tax required by
law to be withheld or paid by the Company with respect to any amount payable and/or shares issuable under such Grantee’s Award, or with respect to any income recognized upon a disqualifying disposition of shares received pursuant to the
exercise of an ISO, and the Company may defer payment or issuance of the cash or stock upon exercise or vesting of an Award unless indemnified to its satisfaction against any liability for any such tax. The amount of such withholding or tax payment
shall be determined by the Committee and shall be payable by the Grantee at the time of delivery or when payment is made [except as otherwise payable under Section 14.1(c)] in accordance with the following rules: 

(a) With respect to Awards payable in cash, the Company will withhold an amount sufficient to satisfy applicable Federal, state
and local tax withholding requirements and remit the net award to the Grantee; 
 (b) With respect to Awards payable in
stock, the Company will notify the Grantee of the amount due from such Grantee to satisfy the tax withholding requirements with respect to the stock. The Grantee shall pay the amount due to satisfy the tax withholding requirements in cash; provided,
however, that the Grantee may elect to meet the tax withholding requirement by requesting the Company, in writing, to withhold from such Award and sell through a brokerage firm the appropriate number of shares of Common Stock, rounded up to the next
whole number, which would result in proceeds equal to the tax withholding requirement. Any election by a Grantee to have shares withheld under this Section 14.1 shall be subject to such terms and conditions as the Committee may specify, which may
include that the election shall be irrevocable and in the case of a Reporting Person, the election to have shares withheld under this Section 14.1 must be made either (i) not less than six (6) months prior to the date that the tax is to be withheld
by the Company, or (ii) during the period beginning on the third business day following the date of the release for publication of the Company’s quarterly or annual summary statements of earnings and ending on the twelfth business day following
such date. If the cash required (whether paid directly or indirectly through the sale of stock election described above) is not received by the Company within sixty (60) days of notification by the Company of the tax withholding due, the Committee
shall have the right to take whatever action it deems appropriate, including voiding the Award. The Company shall not deliver or pay the Award (net of the tax withholding) until the tax withholding obligation is satisfied. At the time that all other
restrictions lapse (other than being subject to Section 16 of the Act) a Reporting Person shall make the election described in Subsection (c) below. 

(c) If permitted under applicable Federal income tax laws, a Grantee may elect to include in gross income for Federal income
tax purposes in the year in which a stock Award is made, an amount equal to the Fair Market Value of the Award on the Date of Grant. If the Grantee makes such an election, the Grantee shall promptly notify the Company in writing and shall provide
the Company with a copy of the executed election form as filed with the Internal Revenue Service by no later than thirty (30) days from the Date of the Grant. Promptly following such notification, the Grantee shall pay directly to the Company, or
make arrangements satisfactory to the Committee, the cash amount determined by the Company to be sufficient to satisfy applicable Federal, state or local withholding tax requirements. If the Grantee shall fail to make such payments, the Company and
its Subsidiaries shall, to the extent permissible by law, have the right to deduct from any payment of any kind otherwise due to the Grantee any Federal, state or local taxes of any kind required by law to be withheld with respect to such Restricted
Stock. 
 SECTION 14.2 ADJUSTMENTS TO REFLECT CAPITAL CHANGES 

14.2.1 Recapitalization. In the event of any stock dividend, stock split, combination or exchange of shares, merger, consolidation or other
change in capitalization with a similar substantive effect upon the Plan or the Awards granted under the Plan, such adjustments shall be made in the number and kind of shares subject to outstanding Awards, the Option Price for such shares and the
number and kind of shares available for Awards subsequently granted under the Plan as may be determined appropriate by the Committee. 

  
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 14.2.2 Sale or Reorganization. After any reorganization, merger or consolidation in which the
Company is the surviving corporation, each Grantee shall, at no additional cost, be entitled upon any exercise of an Option or receipt of other Award to receive (subject to any required action by stockholders), in lieu of the number of shares of
Common Stock receivable or exercisable pursuant to such Award, the number and class of shares of stock or other securities to which such Grantee would have been entitled pursuant to the terms of the reorganization, merger or consolidation if, at the
time of such reorganization, merger or consolidation, such Grantee had been the holder of record of a number of shares of stock equal to the number of shares receivable or exercisable pursuant to such Award. Comparable rights shall accrue to each
Grantee in the event of successive reorganizations, mergers or consolidations of the character described above. 
 14.2.3 Options to
Purchase Stock of Acquired Companies. After any reorganization, merger or consolidation in which the Company or a Subsidiary shall be a surviving corporation, the Committee may grant substituted options under the provisions of the Plan, pursuant to
Section 424 of the Code, replacing old options granted under a plan of another party to the reorganization, merger or consolidation whose stock subject to the old options that may no longer be issued following such merger or consolidation. The
foregoing adjustments and manner of application of the foregoing provisions shall be determined by the Committee in its sole discretion. Any such adjustments may provide for the elimination of any fractional shares which might otherwise become
subject to any Options. 
 SECTION 14.3 FAILURE TO COMPLY WITH TERMS AND CONDITIONS 

Notwithstanding any other provision of the Plan, no payment or delivery with respect to any Award shall be made, and all rights of the Grantee
who receives such Award (or his designated Beneficiary or legal representative) to such payment or delivery under the Plan shall be forfeited, at the discretion of the Committee, if, prior to the time of such payment or delivery, the Grantee
breaches a restriction or any of the terms, restrictions and/or conditions of the Plan and/or the Award Commitment. 
 SECTION 14.4
FORFEITURE UPON OCCURRENCE OF CERTAIN EVENTS 
 Notwithstanding any other provision of the Plan, no payment of any Award shall be made and
all rights of the Grantee who received such Award (or his designated Beneficiary or legal representative) to the payment thereof under the Plan shall be forfeited if, prior to the time of such payment, the Grantee (i) without the Company’s
consent, shall be employed by a competitor of, or shall be engaged in any activity in competition with, the Company or a Subsidiary; (ii) divulges without the consent of the Company any secret or confidential information belonging to the Company or
a Subsidiary; or (iii) has been dishonest or fraudulent in any matter affecting the Company or a Subsidiary or has committed any act which, in the sole judgment of the Committee, has been substantially detrimental to the interests of the Company or
a Subsidiary. The Company shall give a Grantee written notice of the occurrence of any such event prior to making any such forfeiture. The determination of the Committee as to the occurrence of any of the events specified in clauses (i), (ii), and
(iii) of this Section 14.4 shall be conclusive and binding upon all persons for all purposes. Any Award shall be subject to forfeiture for the reasons provided in this Section 14.4 in such manner as shall be provided by the Committee. 

SECTION 14.5 REGULATORY APPROVALS AND LISTING 

The Company shall not be required to issue any certificate or certificates for shares of Common Stock under the Plan prior to (i) obtaining any
approval from any governmental agency which the Company shall, in its discretion, determine to be necessary or advisable, (ii) the admission of such shares to listing on any national securities exchange on which the Company’s Common Stock may
be listed, and (iii) the completion of any registration or other qualification of such shares of Common Stock under any state or Federal law or ruling or regulations of any governmental body which the Company shall, in its discretion, determine to
be necessary or advisable. 

  
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 SECTION 14.6 RESTRICTIONS UPON RESALE OF STOCK 

If the shares of Common Stock that have been issued to a Grantee pursuant to the terms of the Plan are not registered under the Securities Act
of 1933, as amended (“Securities Act”), pursuant to an effective registration statement, such Grantee, if the Committee shall deem it advisable, may be required to represent and agree in writing (i) that any such shares acquired by such
Grantee pursuant to the Plan will not be sold except pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption from registration under said Act and, (ii) that such Grantee is acquiring such shares for his
own account and not with a view to the distribution thereof. 
 SECTION 14.7 REPORTING PERSON LIMITATION 

Notwithstanding any other provision of the Plan, to the extent required to qualify for the exemption provided by Rule 16b-3 under the Act, and
any successor provision, (1) any Common Stock or other equity security offered under the Plan to a Reporting Person may not be sold for at least six (6) months after the earlier of acquisition of the security or the date of grant of the derivative
security, if any, pursuant to which the Common Stock or other equity security was acquired; and (2) any Option, SAR or other similar right related to an equity security, issued under the Plan to a Reporting Person shall not be transferable other
than by will or the laws of descent and distribution, or pursuant to a qualified domestic relations order and shall be exercisable during the Grantee’s lifetime only by the Grantee or the Grantee’s guardian or legal representative. 

ARTICLE XV 
 DISPUTES 

If the employment of a Grantee with the Company or any Participating Subsidiary shall terminate prior to the expiration of the Performance or
Restriction Period applicable to any Performance Share, Restricted Stock, Restricted Stock Unit or Phantom Unit Award awarded to such Grantee and there exists a dispute between such Grantee and the Company or the Committee as to the satisfaction of
the conditions to the release of such shares or units under the Plan or the terms and conditions of the Performance Share, Restricted Stock, Restricted Stock Unit, or Phantom Unit Award, the Performance Share, Restricted Stock, Restricted Stock Unit
or Phantom Unit Awards as to which such dispute shall exist shall remain subject to the restrictions of the Plan until the resolution of such dispute, regardless of any intervening expiration of the Performance or Restriction Period originally
applicable to such shares, except that any dividends which may be declared and which may be payable to the participant as of a date during the period from termination of such Grantee’s employment to the resolution of such dispute (the
“Suspension Period”) shall 
 (i) to the extent to which such dividends would have been payable to such Grantee on
such Performance Share, Restricted Stock, Restricted Stock Unit or Phantom Unit Award, be held by the Company as part of its general funds and shall be paid to or for the account of such Grantee only upon, and in the event of, a resolution of such
dispute in a manner favorable to such Grantee and then only with respect to such Performance Share, Restricted Stock, Restricted Stock Unit or Phantom Unit Award as to which such resolution shall be so favorable, and 

(ii) in the event the dispute is resolved in a manner unfavorable to the Grantee, be canceled as dividends payable upon
Performance Share, Restricted Stock, Restricted Stock Unit or Phantom Unit Award as to which such resolution shall be so unfavorable. 
 In
addition, to the extent that resolution of any such dispute shall be unfavorable to the Grantee, the Performance Shares, Restricted Stock, Restricted Stock Unit or Phantom Unit Award as to which such dispute shall have existed shall be forfeited in
accordance with the provisions of Article XII or Section 14.4. 

  
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 ARTICLE XVI 

ADMINISTRATION OF THE PLAN 

SECTION 16.1 COMMITTEE 
 The Plan
shall be administered by or under the direction of the Committee. No person shall be eligible or continue to serve as a member of the Committee unless such person is a director of the Company and is a “disinterested person” within the
meaning of Rule 16b-3, and no person shall be, or shall have been, eligible to receive an Award under the Plan to acquire stock, stock options, stock appreciation rights, performance shares or restricted stock of the Company or any Participating
Subsidiary at any time within the one (1) year immediately preceding the member’s appointment to the Committee. 
 SECTION 16.2
COMMITTEE ACTIONS 
 Except for matters required by the terms of this Plan to be decided by the CEO or his designee or designees, the
Committee shall have full power and authority to interpret and construe the Plan, to prescribe, amend and rescind rules, regulations, policies and practices, to impose such conditions and restrictions on Awards as it deems appropriate and to make
all other determinations necessary or desirable in connection with the administration of, or the performance of its responsibilities under, this Plan. Subject to the limitations of provisions of Section 20.4, each decision, determination,
interpretation or other action of the Committee made or taken pursuant to grants of authority under the Plan shall be final and shall be conclusive and binding on all persons for all purposes. The Committee’s decisions, determinations and
interpretations (including without limitations, the terms and provisions of such awards and the agreements evidencing same) need not be uniform and may be made selectively among Grantees who receive, or are eligible to receive, awards under the
Plan, whether or not such Grantees are similarly situated. The Committee may, to the extent that any such action will not prevent the Plan from complying with Rule 16b-3, delegate any of its powers and authority under the Plan as it deems
appropriate to designated officers or employees of the Company. 
 SECTION 16.3 NO LIABILITY OF COMMITTEE MEMBERS 

As and to the extent provided by Section 20.5, no past, present or future member of the Committee shall be personally liable by reason of any
contract or other instrument executed by him or on his behalf in his capacity as a member of the Committee, nor for any mistake of judgment made in good faith, and the Company shall indemnify and hold harmless each member of the Committee. 

ARTICLE XVII 
 EFFECTIVE DATE, TERM
OF THE PLAN AND STOCKHOLDER APPROVAL 
 The Plan became effective as of April 1, 1991, and was amended and restated as of June 30, 1993,
April 27, 1995, April 24, 1997, and is hereby further amended and restated as of April 29, 1999. The termination date of the Plan shall be April 30, 2002. No Award shall be granted under the Plan after such termination date. The Plan will continue
in effect for existing Awards as long as any such Awards are outstanding. 
 ARTICLE XVIII 

CHANGE IN CORPORATE CONTROL 

SECTION 18.1 OPTIONS AND PASOS 

In the event of a Change in Control, (i) all Options and PASOs outstanding on the date of such Change in Control shall become immediately and
fully exercisable, and (ii) a Grantee who is an elected officer or director of the Company will be permitted to surrender for cancellation within sixty (60) days after such Change in Control any 

  
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Option or PASO or portion thereof to the extent not yet exercised (or with respect to an Option or PASO or portion thereof granted less than six (6) months prior to the date of the Change in
Control, within sixty (60) days after the expiration of a six (6)-month period following the Date of Grant) and to receive a cash payment in an amount equal to the excess, if any, of (x) in the case of a Nonqualified Stock Option or PASO, the
adjusted Fair Market Value of the Common Stock subject to the Option or PASO or a portion thereof surrendered or (y) in the case of an ISO, the Fair Market Value of the Common Stock subject to the Option or PASO or portion thereof surrendered over
the Option Price. The provisions of this Section 18.1 shall be applicable to Nonqualified Stock Options, PASOs or ISOs. The provisions of this Section 18.1 shall not be applicable to any Options granted to a Grantee if any Change in Control results
from such Grantee’s beneficial ownership (within the meaning of Rule 13d(3) under the Act) of Common Stock or Company voting securities. 

SECTION 18.2 SARS 
 In the event
of a Change in Control, all SARs shall become immediately and fully exercisable but not before any related ISO is exercisable. Upon any exercise of a SAR (other than a SAR granted in tandem with a related ISO) or any portion thereof during the sixty
(60)-day period following the Change in Control, (or with respect to a SAR granted to an officer or director of the Company less than six (6) months prior to the date of the Change in Control, within sixty (60) days after the expiration of a six (6)
month period following the Date of Grant) the amount payable shall be determined by reference to the SAR Fair Market Value of the Common Stock and shall be paid in cash. SARs granted in connection with ISOs will be payable as determined by reference
to the Fair Market Value of the Common Stock on the date of such exercise and shall be paid in cash. The provisions of this Section 18.2 shall not be applicable to any SARs granted to a Grantee if any Change in Control results from such
Grantee’s beneficial ownership (within the meaning of Rule 13d(3) under the Act) of Common Stock or Company voting securities. 

SECTION 18.3 ALL OTHER AWARDS 

In the event of a Change of Control, all Performance Share Awards, Restricted Stock Awards, Phantom Unit Awards, Cash Value Awards, Other
Market-Based Awards (if any) and Other Performance-Based Awards (if any) shall immediately vest and become fully payable within thirty (30) days after a Change in Control to all Grantees who have been granted an Award. In the case of Performance
Share Awards and Cash Value Awards, all Awards shall vest at the Maximum Award. 
 SECTION 18.4 DEFINITIONS 

A Change in Control of the Company shall occur when there is an unsolicited Change in Control of the Company that is not initiated by the
Company, and is of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Act, as in effect on the effective date of the Plan; provided, however, that no Change in Control
shall be deemed to have occurred unless and until a “person” (as such term is used in Sections 13(d) and 14(d)(2) of the Act) together with all “affiliates” and “associates” of such person (as such terms respectively,
are defined in Rule 12b-2 of the General Rules and Regulations under the Act) is or becomes a beneficial owner, directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the Company’s then
outstanding securities. 
 ARTICLE XIX 

AMENDMENT AND TERMINATION 

SECTION 19.1 AMENDMENT 
 The
Board reserves the right at any time or times to modify, alter or amend, in whole or in part, any or all of the provisions of the Plan to any extent and in any manner that it may deem advisable, and no consent or approval by the stockholders of the
Company or by any other person, committee or entity of any kind shall be required to make any modification, alteration or amendment; provided, however, that the Board shall not, without the requisite

  
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affirmative approval of the stockholders of the Company, make any modification, alteration or amendment which (i) except as provided in Section 3, increases the maximum number of shares of Common
Stock available for Awards under this Plan, (ii) decreases the Option Price to less than 100% of the Fair Market Value on the Date of Grant of an Option, (iii) extends the period during which Awards may be granted under the Plan beyond April 30,
2002, (iv) changes the employee (or class of employees) eligible to receive Awards under the Plan, (v) materially increase the benefits accruing to a Grantee under the Plan, or (vi) requires stockholders’ approval under Rule 16b-3 or the Code,
unless such compliance is no longer desired, or under any other applicable law. No modification, alteration or amendment of the Plan may, without the consent of the Grantee (Beneficiaries in case of his death) to whom any Award shall theretofore
have been granted under the Plan adversely affect any right of such Grantee under such Award, except in accordance with the provisions of the Plan and/or any Award Commitment applicable to any such Award. Subject to the provisions of this Section
19.1, any modification, alteration or amendment of any provisions of the Plan may be made retroactively. 
 SECTION 19.2 SUSPENSION OR
TERMINATION 
 The Board reserves the right at any time to suspend or terminate, in whole or in part, any or all of the provisions of the
Plan for any reason and without the consent of or approval by the stockholders of the Company, any Grantee or Beneficiary or any other person, committee or entity of any kind; provided, however, that no such suspension or termination shall affect
any right or obligation with respect to any Award theretofore made except as herein otherwise provided. 
 SECTION 19.3 NO REPRICING OF
OPTIONS 
 Notwithstanding any other provision in the Plan, the Board shall not amend any outstanding Options to reduce the Option Price of
such Option, nor substitute new Options for previously granted Options having a higher Option Price. 

  
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 ARTICLE XX 

MISCELLANEOUS 
 SECTION 20.1
DEFERRAL ELECTION 
 At the discretion of the Committee payment of Phantom Units or any other cash award, or any portion thereof, may be
deferred by a Grantee until such time as the Committee may establish. All such deferrals shall be accomplished by the delivery of a written, irrevocable election by the Grantee at such times prior to the time payment would otherwise be made as the
Committee shall determine. All deferrals shall be made in accordance with such rules and regulations established by the Committee to ensure that such deferrals comply with all applicable requirements of the Code and its regulations. Deferred
payments shall be paid in a lump sum or installments, as determined by the Committee. The Committee also may credit interest at such rates to be determined by the Committee. 

SECTION 20.2 DESIGNATION OF BENEFICIARY 

Each Grantee shall file with the Company a written designation of one or more persons as the Beneficiary who shall be entitled to receive the
Award, if any, payable under the Plan upon his death. A Grantee may from time to time revoke or change his Beneficiary designation without the consent of any prior Beneficiary by filing a new designation with the Company. The last such designation
received by the Company shall be controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless received by the Company prior to the Grantee’s death, and in no event shall it be effective as of a
date prior to such receipt. If no such Beneficiary designation is in effect at the time of a Grantee’s death, or if no designated Beneficiary survives the Grantee or if such designation conflicts with law, the Grantee’s estate shall be
entitled to receive the Award, if any, payable under the Plan upon his death. If the Committee is in doubt as to the right of any person to receive such Award, the Company may retain such Award, without liability for any interest thereon, until the
Committee determines the rights thereto, or the Company may pay such Award into any court of appropriate jurisdiction and such payment shall be a complete discharge of the liability of the Company therefor. 

SECTION 20.3 NO RIGHT TO AN AWARD OR TO CONTINUED EMPLOYMENT 

No Grantee or other person shall have any claim or right to be granted an Award under the Plan. Neither the action of the Company in
establishing this Plan, nor any provisions hereof, nor any action taken by the Company, any Participating Subsidiary, the Committee or the CEO (or his designee or designees) pursuant to such provisions shall be construed as creating in any employee
or class of employees any right with respect to continuation of employment by the Company or any of the Participating Subsidiaries, and they shall not be deemed to interfere in any way with the Company’s or any Participating Subsidiary’s
right to employ, discipline, discharge, terminate, lay off or retire any Grantee with or without cause, to discipline any Employee, or to otherwise affect the Company’s right to make employment decisions with respect to any Grantee. 

SECTION 20.4 DISCRETION OF THE COMMITTEE AND THE CEO 

Whenever the terms of the Plan provide for or permit a decision to be made or an action to be taken by a Grantor, such decision may be made or
such action taken in the sole and absolute discretion of such Grantor and shall be final, conclusive and binding on all persons for all purposes; provided, however, that the Board may review any decision or action of the Grantor and if the Board
determines that any Award or other decision or act of the Grantor is inequitable or contrary to the provisions of this Plan, it may reverse or modify such Award, decision or act. As provided in Section 16.2 in the case of the Grantor’s
determinations under the Plan, including, without limitation the determination of the person to receive awards and the amount of such awards, need not be uniform and may be made by him selectively among persons who receive, or are eligible to
receive, awards under this Plan, whether or not such persons are similarly retired. 

  
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 SECTION 20.5 INDEMNIFICATION AND EXCULPATION 

20.5.1 Indemnification. Each person who is or shall have been a member of the Committee and each director, officer or employee of the Company
or any Participating Subsidiary to whom any duty or power related to the administration or interpretation of this Plan may be delegated, shall be indemnified and held harmless by the Company against and from any and all loss, cost, liability or
expense that may be imposed upon or reasonably incurred by him in connection with or resulting from any claim, action, suit or proceeding to which he may be or become a party or in which he may be or became involved by reason of any action taken or
failure to act under this Plan and against and from any and all amounts paid by him in settlement thereof (with the Company’s written approval) or paid by him in satisfaction of a judgment in any such action, suit or proceeding, except a
judgment in favor of the Company based upon a finding of his bad faith; subject, however, to the condition that upon the institution of any claim, action, suit or proceeding against him, he shall in writing give the Company an opportunity, at its
own expense, to handle and defend the same before he undertakes to handle and defend it on his own behalf. The foregoing right of indemnification shall not be exclusive of any other right to which such person may be entitled under the Company’s
Restated Certificate of Incorporation, as a matter of law or otherwise, or any power that the Company may have to indemnify him or hold him harmless. 

20.5.2 Exculpation. Each member of the Committee, and each director, officer and employee of the Company or of any Participating Subsidiary
shall be fully justified in relying or acting upon in good faith any information furnished in connection with the administration of this Plan by any appropriate person or persons other than himself. In no event shall any person who is or shall have
been a member of the Committee, or a director, officer or employee of the Company or any Participating Subsidiary be liable for any determination made or other action taken or any omission to act in reliance upon such report or information, for any
action (including the furnishing of information) taken or any failure to act, if in good faith. 
 SECTION 20.6 UNFUNDED PLAN 

This Plan is intended to constitute an unfunded, long-term incentive compensation plan for certain selected employees. No special or separate
fund shall be established and no segregation of assets shall be made to assure payment of such amounts, except as expressly set forth in the Plan with respect to Restricted Stock or Performance Shares held in custody accounts. The Company may, but
shall not be obligated to, acquire shares of its Common Stock from time to time in anticipation of its obligations under the Plan, but no Grantee shall have any right in or against any shares of stock so acquired. All such stock shall constitute
general assets of the Company and may be disposed of by the Company at such time and for such purposes as it may deem appropriate. No obligation or liability of the Company to any Grantee with respect to any right to receive a distribution or
payment under the Plan shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. 
 SECTION 20.7
INALIENABILITY OF RIGHTS AND INTERESTS 
 The rights and interests of a Grantee under this Plan are personal to the Grantee and to any person
or persons who may become entitled to distribution or payments under the Plan by reason of death of the Grantee, and the rights and interests of the Grantee or any such person (including, without limitation, any Award distributable or payable under
the Plan) shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any such attempted action shall be void and no such benefit or interest shall be any manner liable for or
subject to debts, contracts, liabilities, engagements or torts of any Grantees. If any Grantee shall attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge any of his rights or interests under the Plan, (including
without limitation, any Award payable under the Plan) then the Committee may hold or apply such benefit or any part thereof to or for the benefit of such Grantee or his Beneficiary, his spouse, children, blood relatives or other dependents, or any
of them, in such manner and in such proportions as the Committee may consider proper. 

  
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 SECTION 20.8 AWARDS NOT INCLUDABLE FOR BENEFIT PURPOSES 

Payments received by a Grantee pursuant to the provisions of the Plan shall not be included in the determination of benefits under any pension,
group insurance or other benefit plan applicable to the Grantee which are maintained by the Company or any of its Subsidiaries, except as may be determined by the Board. 

SECTION 20.9 NO ISSUANCE OF FRACTIONAL SHARES 

The Company shall not be required to deliver any fractional share of Common Stock but, as determined by the Committee, may pay in lieu thereof,
except as otherwise provided in this Plan, the Fair Market Value (determined as of the date of payment the restrictions terminate) of such fractional share to the Grantee or the Grantee’s beneficiary, as the case may be. 

SECTION 20.10 MODIFICATION FOR OVERSEAS GRANTEES 

Notwithstanding any provision to the contrary, the Committee may incorporate such provisions, or make such modifications or amendments in Award
Commitments of Grantees who reside or are employed outside of the United States of America, or who are citizens of a country other than the United States of America, as the Committee deems necessary or appropriate to accomplish the purposes of the
Plan with respect to such Grantee in light of differences in applicable law, tax policies or customs, and to ascertain compliance with all applicable laws. 

SECTION 20.11 LEAVES OF ABSENCE 

The Committee shall be entitled to make such rules, regulations and determinations as it deems appropriate under the Plan in respect of any
leave of absence taken by the recipient of any Award. Without limiting the generality of the foregoing, the Committee shall be entitled to determine (a) whether or not any such leave of absence shall constitute a termination of employment within the
meaning of the Plan and, (b) the impact, if any, of any such leave of absence on awards under the Plan theretofore made to any recipient who takes such leave of absence. 

SECTION 20.12 COMMUNICATIONS 

20.12.1 Communications by the Committee. All notices, statements, reports and other communications made, delivered or transmitted to a Grantee,
Beneficiary or other person under this Plan shall be deemed to have been duly given, made or transmitted when delivered to, or when mailed by first-class mail, postage prepaid and addressed to, such Grantee, Beneficiary or other person at his
address last appearing on the records of the Committee. 
 20.12.2 Communications by the Participants and Others. All elections,
designations, requests, notices, instructions and other communications made, delivered or transmitted by the Company, a Participating Subsidiary, Grantee, Beneficiary or other person to the Committee required or permitted under this Plan shall be in
such form as is prescribed from time to time by each such Committee, shall be mailed by first-class mail or delivered to such location as shall be specified by each such Committee, and shall be deemed to have been given and delivered only upon
actual receipt thereof by such Committee at such location. 
 SECTION 20.13 PARTIES IN INTEREST 

The provisions of the Plan and the terms and conditions of any Award shall, in accordance with their terms, be binding upon, and inure to the
benefit of, all successors of each Grantee, including, without limitation, such Grantee’s estate and the executors, administrators, or trustees thereof, heirs and legatees, and any receiver, trustee in bankruptcy or representative of creditors
of such Grantee. The obligations of the Company under the Plan shall be binding upon the Company and its successors and assigns. 

  
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 SECTION 20.14 SEVERABILITY 

Whenever possible, each provision in the Plan and every Award at any time granted under the Plan shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of the Plan or any Award at any time granted under the Plan shall be held to be prohibited by or invalid under applicable law, then (a) such provision shall be deemed amended to
accomplish the objectives of the provision as originally written to the fullest extent permitted by law, and (b) all other provisions of the Plan and every other Award at any time granted under the Plan shall remain in full force and effect. 

SECTION 20.15 COMPLIANCE WITH LAWS 

The Plan and the grant of Awards shall be subject to all applicable Federal and state laws, rules and regulations and to such approvals by any
government or regulatory agency as may be required. It is intended that the Plan be applied and administered in compliance with Rule 16b-3. If any provision of the Plan would be in violation of Rule 16b-3 if applied as written, such provision shall
not have effect as written and shall be given effect so as to comply with Rule 16b-3, as determined by the Committee. The Board is authorized to amend the Plan and to make any such modifications to Award Commitments to comply with Rule 16b-3, and to
make any such other amendments or modifications as it deems necessary or appropriate to better accomplish the purposes of the Plan in light of any amendments made to Rule 16b-3. 

SECTION 20.16 NO STRICT CONSTRUCTION 

No rule of strict construction shall be implied against the Company, the Committee, the CEO or any other person in the interpretation of any of
the terms of the Plan, any Award granted under the Plan or any rule or procedure established by the Committee. 
 SECTION 20.17 MODIFICATION

 This document contains all of the provisions of the Plan and no provisions may be waived, modified or otherwise altered except in a
writing adopted by the Board. 
 SECTION 20.18 GOVERNING LAW 

All questions pertaining to validity, construction and administration of the Plan and the rights of all persons hereunder shall be determined
with reference to, and the provisions of the Plan shall be governed by and shall be construed in conformity with, the internal laws of the State of Delaware. 

  
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