Document:

EX-4.3

Table of Contents

 Exhibit 4.3 

Sanderson Farms, Inc. and Affiliates Stock Incentive Plan 

(Amended and Restated as of February 13, 2020) 

Table of Contents

 Table of Contents 

 

					
	 ARTICLE 1—GENERAL PROVISIONS

	  	 	A-1	 
	 1.1 Establishment and Purposes of Plan
	  	 	A-1	 
	 1.2 Types of Awards
	  	 	A-1	 
	 1.3 Effective Date
	  	 	A-1	 
	 ARTICLE 2—DEFINITIONS
	  	 	A-1	 
	 ARTICLE 3—ADMINISTRATION
	  	 	A-4	 
	 3.1 General
	  	 	A-4	 
	 3.2 Authority of the Board
	  	 	A-5	 
	 3.3 Delegation of Authority
	  	 	A-5	 
	 3.4 Award Agreements
	  	 	A-5	 
	 3.5 Indemnification
	  	 	A-5	 
	 ARTICLE 4—SHARES SUBJECT TO THE
PLAN
	  	 	A-6	 
	 4.1 Number of Shares
	  	 	A-6	 
	 4.2 Individual Limits
	  	 	A-7	 
	 4.3 Adjustment of Shares
	  	 	A-7	 
	 ARTICLE 5—STOCK OPTIONS
	  	 	A-8	 
	 5.1 Grant of Options
	  	 	A-8	 
	 5.2 Agreement
	  	 	A-8	 
	 5.3 Option Price
	  	 	A-8	 
	 5.4 Duration of Options
	  	 	A-8	 
	 5.5 Exercise of Options
	  	 	A-8	 
	 5.6 Payment
	  	 	A-8	 
	 5.7 Nontransferability of Options
	  	 	A-8	 
	 5.8 Special Rules for ISOs
	  	 	A-9	 
	 ARTICLE 6—STOCK APPRECIATION
RIGHTS
	  	 	A-9	 
	 6.1 Grant of SARs
	  	 	A-9	 
	 6.2 Tandem SARs
	  	 	A-9	 
	 6.3 Payment
	  	 	A-9	 
	 6.4 Exercise of SARs
	  	 	A-10	 
	 ARTICLE 7—RESTRICTED STOCK
	  	 	A-10	 
	 7.1 Grant of Restricted Stock
	  	 	A-10	 
	 7.2 Restricted Stock Agreement
	  	 	A-10	 
	 7.3 Nontransferability
	  	 	A-10	 
	 7.4 Certificates
	  	 	A-10	 
	 7.5 Dividends and Other Distributions
	  	 	A-10	 
	 7.6 Restricted Stock Units (or RSUs)
	  	 	A-11	 
	 ARTICLE 8—PERFORMANCE
SHARES
	  	 	A-11	 
	 8.1 Grant of Performance Shares
	  	 	A-11	 
	 8.2 Performance Share Agreement
	  	 	A-11	 
	 8.3 Earning of Performance Shares
	  	 	A-11	 
	 8.4 Form and Timing of Payment of Performance Shares
	  	 	A-11	 
	 8.5 Nontransferability
	  	 	A-12	 
	 ARTICLE 9—PHANTOM STOCK
UNITS
	  	 	A-12	 
	 9.1 Grant of Phantom Stock Units
	  	 	A-12	 
	 9.2 Phantom Stock Agreement
	  	 	A-12	 
	 9.3 Amount, Form and Timing of Payment
	  	 	A-12	 
	 9.4 Nontransferability of Award
	  	 	A-12	 
	 ARTICLE 10—OTHER STOCK-BASED
AWARDS
	  	 	A-12	 
	 10.1 Terms of Other Stock-Based Awards
	  	 	A-12	 
	 10.2 Dividend Equivalents
	  	 	A-13	 
	 10.3 Nontransferability of Award
	  	 	A-13	 

  
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	 ARTICLE 11—MANAGEMENT SHARE PURCHASE
PLAN
	  	 	A-13	 
	 11.1 Share Purchase Rights
	  	 	A-13	 
	 11.2 Share Purchase Agreement
	  	 	A-13	 
	 11.3 Repurchase Option
	  	 	A-13	 
	 11.4 Transferability
	  	 	A-13	 
	 ARTICLE 12—PERFORMANCE
MEASURES
	  	 	A-14	 
	 ARTICLE 13—BENEFICIARY
DESIGNATION
	  	 	A-14	 
	 ARTICLE 14— DEFERRALS
	  	 	A-14	 
	 ARTICLE 15—WITHHOLDING
	  	 	A-15	 
	 15.1 Tax Withholding
	  	 	A-15	 
	 15.2 Share Withholding
	  	 	A-15	 
	 ARTICLE 16—FOREIGN
EMPLOYEES
	  	 	A-15	 
	 ARTICLE 17—AMENDMENT AND
TERMINATION
	  	 	A-15	 
	 17.1 Amendment of Plan
	  	 	A-15	 
	 17.2 Amendment of Award Agreement
	  	 	A-16	 
	 17.3 Termination of Plan
	  	 	A-16	 
	 17.4 Cancellation of Awards
	  	 	A-16	 
	 17.5 Adjustments Upon Change in Control and Other Events
	  	 	A-16	 
	 ARTICLE 18—MISCELLANEOUS
PROVISIONS
	  	 	A-17	 
	 18.1 Restrictions on Shares
	  	 	A-17	 
	 18.2 Rights of a Stockholder
	  	 	A-17	 
	 18.3 No Implied Rights
	  	 	A-17	 
	 18.4 Non-Uniform
Determinations
	  	 	A-17	 
	 18.5 Compliance with Laws
	  	 	A-17	 
	 18.6 Successors
	  	 	A-18	 
	 18.7 Tax Elections
	  	 	A-18	 
	 18.8 Legal Construction
	  	 	A-18	 
	 18.9 Plan Year
	  	 	A-19	 

  
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 Sanderson Farms, Inc. and Affiliates 

Stock Incentive Plan 

(Amended and Restated as of February 13, 2020) 
 Article 1—General Provisions 
 1.1 Establishment and Purposes of
Plan. Sanderson Farms, Inc., a Mississippi corporation (together with its affiliates and subsidiaries, the “Company”), hereby amends and restates its stock incentive plan known as the Sanderson Farms, Inc. and Affiliates Stock
Incentive Plan (the “Plan”), which was approved by the Company’s shareholders on February 11, 2016, and thereafter adopted by the Board on the same date, as set forth in this document. The objectives of the Plan are: (a) to
align closely the long-term financial interests of the management of the Company with the stockholders by reinforcing the relationship between Eligible Participants’ rewards and stockholder gains; (b) to provide management with an equity
ownership in the Company commensurate with Company performance, as reflected in increased stockholder value; (c) to attract, motivate and retain key employees and non-employee directors by maintaining
competitive compensation levels; and (d) 
to provide an incentive to management for continuous employment with or service to the Company. 
 1.2 Types of Awards. Awards
under the Plan may be made to Eligible Participants who are employees (including Directors who are also employees) in the form of (a) Incentive Stock Options, (b) Nonqualified Stock Options, (c) Stock Appreciation Rights,
(d) Restricted Stock, (e) Restricted Stock Units, (f) Performance Shares, (g) Phantom Stock Units, (h) Share Purchase Rights, (i) Other Stock-Based Awards, or any combination of the foregoing. Awards under the Plan may
be made to Eligible Participants who are Directors in the form of (i) Nonqualified Stock Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock, (iv) Restricted Stock Units, (v) Phantom Stock Units, (vi) Share
Purchase Rights, (vii) Other Stock-Based Awards, or any combination of the foregoing. 
 1.3 Effective Date. The Plan, as
amended and restated hereby, shall be effective on the date that it is approved by the holders of a majority of the Company’s Shares present in person or by proxy and voting at a duly called meeting of the stockholders and adopted by a majority
of the Board at a duly called meeting of the Board following such stockholders’ meeting (the “Effective Date”). 
 
Article 2—Definitions 
 Except where the context otherwise indicates, the following definitions apply: 

2.1 “Agreement” means the written agreement evidencing an Award granted to the Participant under the Plan. 

2.2 “Applicable Law” means the laws, rules and regulations relating to the administration of stock option plans and other stock incentive plans under
Mississippi law relating to corporations, applicable federal and state securities laws, the Code, any stock exchange or quotation system on which the Shares are listed or quoted, and the applicable laws, rules and regulations of any country or
jurisdiction where Awards are granted under the Plan. 
 2.3 “Award” means an award granted to a Participant under the Plan that is an Option, Stock
Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Share, Phantom Stock Unit, Share Purchase Right, Other Stock-Based Award, or a combination of these. 

2.4 “Board” means the Board of Directors of the Company, or, to the extent of any authority delegated to a Committee pursuant to Article 3, the
Committee. 
 2.5 “Cause” means, unless provided otherwise in the Agreement, the “Causes for Discharge” set forth in the Company’s employee
handbook, as it may be amended from time to time. The existence of “Cause” shall be determined by the Board. 

  
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 2.6 “Change in Control” means the occurrence, in a single transaction or in a series of related
transactions, of any one or more of the following events: 
  

	(a)	 The acquisition (other than an acquisition from or by the Company or by a Company-sponsored employee benefit plan or by a
person that directly or indirectly controls, is controlled by, or is under common control with the Company) by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act ) (a “Person”) of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50 percent of the then outstanding shares of common stock of the Company; or 

 

	(b)	 The consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of
the assets of the Company or the consummation of the acquisition by the Company of assets of another corporation (each of the foregoing, a “Business Combination”), in each case, unless, following such Business Combination, the individuals
and entities who were the beneficial owners, respectively, of the outstanding common stock of the Company immediately prior to such Business Combination beneficially own, directly or indirectly, more than fifty percent (50%) of the combined voting
power of the then outstanding voting securities entitled to vote generally in the election of directors of the corporation surviving or resulting from such Business Combination (or of a corporation which as a result of such transaction controls the
Company or owns all or substantially all of the Company’s assets either directly or through one or more subsidiaries), in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the common stock
of the Company; or 

  

	(c)	 individuals who, as of the close of business on February 13, 2020, constitute the Board of Directors (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to such date whose election, or nomination for election by the Company’s
stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual
whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person
other than the Board; or 

  

	(d)	 approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

 2.7 “Code” means the Internal Revenue Code of 1986, as now in effect or as hereafter amended. All citations to sections of the Code are
to such sections as they may from time to time be amended or renumbered. 
 2.8 “Committee” means the Compensation Committee of the Board or such other
committee as may be appointed by the Board to administer this Plan pursuant to Article 3. 
 2.9 “Company” means Sanderson Farms, Inc., a Mississippi
corporation, and its affiliates and subsidiaries, and their respective successors and assigns. 
 2.10 “Director” means any individual who is a member of
the Board of Directors of the Company; provided, however, that any Director who is employed by the Company or any other Employer shall also be considered an employee for purposes of the Plan. 

2.11 “Disability” (a) in the case of Incentive Stock Options, means permanent and total disability as defined under Section 22(e)(3) of the Code,
and (b) in all other cases, has such meaning as determined by the Board from time to time. 

  
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 2.12 “Effective Date” shall have the meaning ascribed to such term in Section 1.3 hereof. 

2.13 “Eligible Participant” means Directors and the executive officers and other key employees (including employees who are also Directors) of the Company who
occupy responsible managerial and professional positions and who have the capability of making substantial contributions to the success of the Company. 
 2.14
“Employer” means the Company and any entity during any period that it is a “parent corporation” or a “subsidiary corporation” with respect to the Company within the meaning of Code Sections 424(e) and 424(f). With
respect to all purposes of the Plan, including but not limited to, the establishment, amendment, termination, operation and administration of the Plan, Sanderson Farms, Inc. shall be authorized to act on behalf of all other entities included within
the definition of “Employer.” 
 2.15 “Exchange Act” means the Securities Exchange Act of 1934, as now in effect or as hereafter amended. All
citations to sections of the Exchange Act or rules thereunder are to such sections or rules as they may from time to time be amended or renumbered. 
 2.16 “Fair
Market Value” means, as of any date, the value of a Share, as determined in good faith by the Board, as follows: 
  

	(a)	 if the Share shall then be listed on a national securities exchange (including the Nasdaq Global Select Market), the last
sale price reported for the Share on the principal national exchange on which such Share is sold on such date; or, if no sale was reported on such date, the average of the closing bid and asked prices on the principal national securities exchange
(including the Nasdaq Global Select Market) on which the Share is listed or admitted to trading; or, if such exchange is closed on such date, the last sales price reported for the Company’s Shares on the last preceding day on which the
principal national exchange on which the such Share is sold was open, and if no sale of the Company’s Shares was reported on such preceding day, then the average of the closing bid and asked prices of the Share on such preceding day;

  

	(b)	 if the Share is not listed on the Nasdaq Global Select Market nor listed or admitted to trading on another national
securities exchange, then the average of the closing bid and asked prices, as reported by The Wall Street Journal for the over-the-counter market, on such date;

  

	(c)	 If (a) and (b) do not apply, on the basis of the good faith determination of the Board in its discretion.

 2.17 “Incentive Stock Option” or “ISO” means an Option granted to an Eligible Participant under Article 5 of the Plan
which is intended to meet the requirements of Section 422 of the Code. 
 2.18 “Insider” shall mean an individual who is, on the relevant date, subject
to the reporting requirements of Section 16(a) of the Exchange Act. 
 2.19 “Named Executive Officer” means an Eligible Participant who is a member of the
group of “covered employees” as defined in the regulations promulgated or other guidance issued under Code Section 162(m), as determined by the Board. 

2.20 “Nonqualified Stock Option” or “NQSO” means an Option granted to an Eligible Participant under Article 5 of the Plan which is not intended
to meet, or does not meet, the requirements of Section 422 of the Code. 
 2.21 “Option” means an Incentive Stock Option or a Nonqualified Stock
Option. An Option shall be designated as either an Incentive Stock Option or a Nonqualified Stock Option, and in the absence of such designation, shall be treated as a Nonqualified Stock Option. 

2.22 “Option Price” means the price at which a Share may be purchased by a Participant pursuant to an Option. 

  
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 2.23 “Other Stock-Based Award” means an Award granted pursuant to Article 10 of the Plan that is paid
with, valued in whole or in part by reference to, or is otherwise based on Shares. 
 2.24 “Participant” means an Eligible Participant to whom an Award has
been granted. 
 2.25 “Permitted Transferee” means any member of the immediate family of the Participant (i.e., spouse, children, and grandchildren), any
trust for the benefit of such family members or any partnership whose only partners are such family members. 
 2.26 “Performance Share” means an Award
under Article 8 of the Plan that is valued by reference to a Share, which value may be paid to the Participant by delivery of such property as the Board shall determine, including without limitation, cash or Shares, or any combination thereof,
upon achievement of such performance objectives during the relevant performance period as the Board shall establish at the time of such Award or thereafter, but not later than the time permitted by Code Section 162(m) in the case of a Named
Executive Officer, unless the Board determines not to comply with Code Section 162(m). 
 2.27 “Phantom Stock Unit” means an Award granted pursuant to
Article 9 of the Plan. 
 2.28 “Plan” means the Sanderson Farms, Inc. and Affiliates Stock Incentive Plan, as originally adopted and as amended hereby
and as it may be further amended from time to time. 
 2.29 “Prior Plan” shall have the meaning ascribed to such term in Section 4.1 hereof. 

2.30 “Restricted Stock” means an Award of Shares under Article 7 of the Plan, which Shares are issued with such restriction(s) as the Board, in its sole
discretion, may impose, including without limitation, any restriction on the right to retain such Shares, to sell, transfer, pledge or assign such Shares, to vote such Shares, and/or to receive any cash dividends with respect to such Shares, which
restrictions may lapse separately or in combination at such time or times, in installments or otherwise, as the Board may deem appropriate. 
 2.31 “Restricted
Stock Unit” or “RSU” means a right granted under Article 7 of the Plan to receive a number of Shares or a cash payment for each such Share equal to the Fair Market Value of a Share on a specified date. 

2.32 “Restriction Period” means the period commencing on the date an Award of Restricted Stock or Restricted Stock Units is granted and ending on such date as
the Board shall determine. 
 2.33 “Secretary” means the Secretary of the United States Department of the Treasury. 

2.34 “Share” means one share of common stock, par value $1.00 per share, of the Company, and as such Share may be adjusted pursuant to the provisions of
Section 4.3 of the Plan. 
 2.35 “Share Purchase Right” means an Award granted pursuant to Article 11 of the Plan. 

2.36 “Stock Appreciation Right” or “SAR” means an Award granted under Article 6 which provides for an amount payable in Shares and/or cash, as
determined by the Board, equal to the excess of the Fair Market Value of a Share on the day the Stock Appreciation Right is exercised over the specified exercise price. 

2.37 “Tandem SAR” means an SAR granted in connection with an Option. 
 Article 3—Administration 
 3.1 General. This Plan shall be
administered by the Board. The Board may by resolution delegate some or all of its authority under the Plan to a committee of the Board consisting of two or more Directors, each of whom qualifies as (a) a
“Non-Employee Director” within the meaning of Rule 16b-3 under the Exchange Act, and (b) an “outside director” within the meaning of Code
Section 162(m). 

  
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 3.2 Authority of the Board. 

 

	(a)	 The Board shall have the right to interpret, construe and administer the Plan and Awards granted pursuant to the Plan, to
select the Eligible Participants who are to receive an Award from time to time, and to act in all matters pertaining to the granting of an Award and the contents of the Agreement evidencing the Award, including without limitation, the determination
of the number of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Phantom Stock Units, Share Purchase Rights or Other Stock-Based Awards subject to an Award and the form, terms, conditions and
duration of each Award, and any amendment thereof consistent with the provisions of the Plan. The Board may adopt, amend and rescind such rules, regulations and procedures for the administration of this Plan as it deems appropriate.

  

	(b)	 Subject to Article 17 of the Plan, the Board may correct any defect, supply any omission or reconcile any inconsistency
in the Plan or any Agreement in the manner and to the extent it shall deem desirable to carry it into effect. 

  

	(c)	 If the Company shall assume outstanding employee benefit awards or the right or obligation to make future such awards in
connection with the acquisition of another corporation or business entity, the Board may, in its discretion, make such adjustments in the terms of Awards under the Plan as it shall deem appropriate. 

 

	(d)	 The Board 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 a Participant. Without limiting the generality of the foregoing, the Board shall be entitled to determine (i) whether or not any such leave of absence shall constitute a termination of employment within
the meaning of the Plan or a “separation from service” within the meaning of Section 409A(a)(2) of the Code, and (ii) the impact, if any, of any such leave of absence on Awards under the Plan theretofore made to any Participant
who takes a leave of absence. 

  

	(e)	 All acts, determinations and decisions of the Board made or taken pursuant to grants of authority under the Plan or with
respect to any questions arising in connection with the administration and interpretation of the Plan, including the severability of any and all of the provisions thereof, shall be in the Board’s sole discretion and shall be conclusive, final
and binding upon all parties, including the Company, its stockholders, Participants, Eligible Participants and their estates, beneficiaries and successors. 

3.3 Delegation of Authority. The Board may, at any time and from time to time, delegate to one or more persons or
committees any or all of its authority under Section 3.2, to the full extent permitted by Applicable Law. 
 3.4
Award Agreements. Each Award granted under the Plan shall be evidenced by a written Agreement. Each Agreement shall be subject to and incorporate, by reference or otherwise, the applicable terms and conditions of the Plan and any other terms
and conditions, not inconsistent with the Plan, as may be imposed by the Board, including without limitation provisions related to the consequences of termination of employment. A copy of such document shall be provided to the Participant and the
Board may, but need not, require that the Participant sign a copy of the Agreement. 
 3.5 Indemnification. In
addition to such other rights of indemnification as they may have as Directors or as members of the Committee, the members of the Board or Committee shall be indemnified by the Company against reasonable expenses, including attorney’s fees,
actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in
connection with the Plan or any Award granted thereunder, and against all amounts paid by them in settlement thereof, provided such settlement is approved by legal counsel selected by the Company, or

  
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paid by them in satisfaction of a judgment or settlement in any such action, suit or proceeding, except as to matters as to which the Board or Committee member has been grossly negligent or
engaged in willful misconduct in the performance of his duties; provided, that within sixty (60) days after institution of any such action, suit or proceeding, the member shall in writing offer the Company the opportunity, at its own expense,
to handle and defend the same. 
 Article 4—Shares Subject to the Plan 

4.1 Number of Shares. 
  

	(a)	 No further grants may be made under the Sanderson Farms, Inc. and Affiliates Stock Option Plan (as amended and restated
as of February 28, 2002) (the “Prior Plan”), but awards made under the Prior Plan shall remain outstanding in accordance with their terms and the terms of the Prior Plan and Shares issued or reserved for issuance pursuant to
outstanding awards under the Prior Plan shall count against the number of Shares otherwise available for issuance under the Plan. Subject to adjustment as provided in (b) below and in Section 4.3, the aggregate number of Shares which are
available for issuance pursuant to all Awards under the Plan and awards under the Prior Plan (including Shares that are already issued or reserved for issuance) is 4,800,000 Shares (2,250,000 of which were approved by stockholders in 2005, 1,250,000
of which were approved by stockholders in 2011, 700,000 of which were approved by stockholders in 2016 and 600,000 of which will be added subject to approval by stockholders in 2020). Not more than 2,112,500 of the Shares issued under the Plan may
be granted in the form of Restricted Stock (unless based on the achievement of Performance Measures). The aggregate number of Incentive Stock Options that may be issued under the Plan and the Prior Plan is 2,250,000. Such Shares shall be made
available from Shares currently authorized but unissued or to the extent permitted by Applicable Law, from Shares acquired by the Company for the purposes set forth herein. 

 

	(b)	 The following rules shall apply for purposes of the determination of the number of Shares available for grant under the
Plan: 

  

	 	(i)	 All the Shares issued upon exercise of an Option (including the Shares, if any, withheld for tax withholding
requirements) shall be counted as used when cash is used as full payment for such Shares. 

  

	 	(ii)	 Only the Shares issued (including the Shares, if any, withheld for tax withholding requirements) as a result of exercise
of a Stock Appreciation Right shall be counted as used. 

  

	 	(iii)	 Only the net Shares issued (including the Shares, if any, withheld for tax withholding requirements) shall be counted as
used when Shares are used as full or partial payment for Shares issued upon exercise of an Option. 

  

	 	(iv)	 Shares tendered (either by actual delivery or attestation) by a Participant as payment for Shares issued upon exercise of
an Option shall be available for subsequent issuance under the Plan if the Shares tendered were acquired by earlier exercise of an Option. 

  

	 	(v)	 Shares issued and withheld by the Company to satisfy the Participant’s tax withholding obligation with respect to
any Award shall be counted as used. 

  

	 	(vi)	 Shares subject to an Award shall not be counted as used unless and until they are actually issued and delivered to a
Participant. Therefore, Shares reserved for issuance with respect to Awards that expire or are forfeited or canceled prior to issuance or are settled without the delivery of Shares, or with respect to which the performance terms are not met, shall
again be available for issuance pursuant to another Award under the Plan. Also, if for any reason any 

  
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Shares subject to an Award under the Plan or the Prior Plan are issued but are reacquired by the Company, for reasons including, but not limited to, a forfeiture or repurchase of Restricted Stock
or other Award (“Returned Shares”), such Returned Shares shall again be available for issuance pursuant to another Award under the Plan. 

  

	 	(vii)	 The Board shall reserve one Share for each Restricted Stock Unit, Phantom Stock Unit or Other Stock-Based Award awarded
that may be settled in Shares. The Board shall reserve Shares to allow for issuance of the maximum number of Shares that may be awarded under an Agreement with respect to Performance Shares. Any such Awards that may not be settled in Shares shall
not require a reserve. 

  

	 	(viii)	 The Board shall reserve one Share for each Share subject to an Option or a Stock Appreciation Right that may be settled
in Shares. Stock Appreciation Rights that may not be settled in Shares shall not require a reserve. In addition, if a Stock Appreciation Right is granted in connection with an Option and the exercise of the Stock Appreciation Right results in the
termination of the Option, the reserved Shares that otherwise would have been issued upon the exercise of such related Option will again be available for issuance pursuant to another Award under the Plan. 

4.2 Individual Limits. Except to the extent the Board determines that an Award to a Named Executive Officer shall not comply with
the performance-based compensation provisions of Code Section 162(m), the following rules shall apply to Awards under the Plan: 
  

	(a)	 Options and SARs. The maximum number of Options and Stock Appreciation Rights that, in the aggregate, may be
granted in any one calendar year to any one Participant shall be 500,000. 

  

	(b)	 Other Awards. The maximum number of Shares of Restricted Stock, Performance Shares or Shares subject to Restricted
Stock Units, Phantom Stock Units, Share Purchase Rights or Other Stock-Based Awards (or their equivalent value in cash, Shares or other property) that may be granted pursuant to Awards in any one calendar year to any one Participant shall be the
higher of (i) 200,000 and (ii) the number of Shares obtained by dividing 5,000,000 by the fair market value of a Share on the respective dates of grant. 

4.3 Adjustment of Shares. If any change in corporate capitalization, such as a stock split, reverse stock split, stock dividend,
or any corporate transaction such as a reorganization, reclassification, merger or consolidation or separation, including a spin-off, of the Company or sale or other disposition by the Company of all or a
portion of its assets, any other change in the Company’s corporate structure, or any distribution to stockholders (other than a cash dividend) results in the outstanding Shares, or any securities exchanged therefor or received in their place,
being exchanged for a different number or class of shares or other securities of the Company, or for shares of stock or other securities of any other corporation; or new, different or additional shares or other securities of the Company or of any
other corporation being received by the holders of outstanding Shares; then appropriate adjustments shall be made by the Board to the following in order to preserve, but not to increase, the benefits intended to be provided to the Participants: 

 

	(a)	 the limitations on the aggregate number of Shares that may be awarded as set forth in Section 4.1, including,
without limitation, with respect to Incentive Stock Options; 

  

	(b)	 the limitations on the aggregate number of Shares that may be awarded to any one single Participant as set forth in
Section 4.2; 

  

	(c)	 the number and class of Shares that may be subject to an Award, and which have not been issued or transferred under an
outstanding Award; 

  

	(d)	 the Option Price under outstanding Options and the number of Shares to be transferred in settlement of outstanding Stock
Appreciation Rights; and 

  
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	(e)	 the terms, conditions or restrictions of any Award and Agreement, including the price payable for the acquisition of
Shares; provided, however, that all such adjustments made in respect of each Incentive Stock Option shall be accomplished so that such Option shall continue to be an Incentive Stock Option. 

Article 5—Stock Options 

5.1 Grant of Options. Options may be granted to Eligible Participants in such amounts and upon such terms as are consistent with
this Plan, and at any time and from time to time, as shall be determined by the Board. The Board shall have sole discretion in determining the number of Shares subject to Options granted to each Participant. The Board may grant a Participant ISOs,
NQSOs or a combination thereof, and may vary such Awards among Participants; provided that only an Employee may be granted ISOs. 
 5.2
Agreement. Each Option shall be evidenced by an Agreement that shall specify the Option Price, the duration of the Option, the number of Shares to which the Option pertains and such other provisions as the Board shall determine in its sole
discretion. The Option Agreement shall further specify whether the Award is intended to be an ISO or an NQSO. Any portion of an Option that is not designated as an ISO or that fails to meet the requirements of Section 422 of the Code (even if
designated as an ISO) shall be an NQSO. 
 5.3 Option Price. The Option Price for each grant of an Option shall not be less than
one hundred percent (100%) of the Fair Market Value of a Share on the date the Option is granted. 
 5.4 Duration of Options.
Each Option shall expire at such time as the Board shall determine at the time of grant; provided, however, that no Option shall be exercisable later than the tenth anniversary of its grant date. 

5.5 Exercise of Options. Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and
conditions as the Board shall in each instance approve, including conditions related to the employment of or provision of services by the Participant with the Company or any Employer, which need not be the same for each grant or for each
Participant. The exercise of any Option shall cancel a Tandem SAR, if any, proportionate in amount to the number of Shares purchased pursuant to the exercise of the Option. 

5.6 Payment. Except as otherwise provided in the applicable Agreement, Options shall be exercised by the delivery of a written
notice of exercise to the Company, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. The Option Price upon exercise of any Option shall be payable to the Company in
full, either: (a) in cash, (b) cash equivalent approved by the Board, (c) if approved by the Board, by tendering previously acquired Shares (or delivering a certification or attestation of ownership of such Shares) having an aggregate
Fair Market Value at the time of exercise equal to the total Option Price (provided that the tendered Shares must have been held by the Participant for any period required by the Board), or (d) by a combination of (a), (b) and (c). The
Board also may allow cashless exercises as permitted under Federal Reserve Board’s Regulation T, subject to applicable securities law restrictions, or by any other means which the Board determines to be consistent with the Plan’s
purpose and Applicable Law. 
 5.7 Nontransferability of Options. 

 

	(a)	 Incentive Stock Options. No ISO granted under the Plan may be sold, transferred, pledged, assigned, or otherwise
alienated or hypothecated by a Participant, other than by will or by the laws of descent and distribution of the state in which the Participant resided on the date of his death. Further, all ISOs granted to a Participant under the Plan shall be
exercisable during his or her lifetime only by such Participant or by his guardian or legal representative. 

  
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	(b)	 Nonqualified Stock Options. Except as otherwise provided in a Participant’s Award Agreement with respect to
transfers to Permitted Transferees (any such transfers being subject to Applicable Law), no NQSO granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated by a Participant, other than by will or by
the laws of descent and distribution of the state in which the Participant resided on the date of his death. Appropriate evidence of any transfer to Permitted Transferees shall be delivered to the Company at its principal executive office. If all or
part of an Option is transferred to a Permitted Transferee, the Permitted Transferee’s rights thereunder shall be subject to the same restrictions and limitations with respect to the Option as those of the Participant. Further, except as
otherwise provided in a Participant’s Award Agreement, all NQSOs granted to a Participant under the Plan shall be exercisable during his or her lifetime only by such Participant or by his guardian or legal representative. 

5.8 Special Rules for ISOs. Notwithstanding the above, in no event shall any Participant who owns (within the meaning of
Section 424(d) of the Code) stock of the Company possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company be eligible to receive an ISO at an Option Price less than one hundred ten
percent (110%) of the Fair Market Value of a Share on the date the ISO is granted or be eligible to receive an ISO that is exercisable later than the fifth anniversary date of its grant. To the extent that a Participant is granted ISOs (under the
Plan and all other incentive stock option plans of the Employer) which are first exercisable in any calendar year for Shares having an aggregate Fair Market Value (determined as of the date an Option is granted) that exceeds One Hundred Thousand
Dollars ($100,000), such Options shall be treated as NQSOs. For purposes of this Section 5.8, ISOs shall be taken into account in the order in which they were granted. 

Article 6—Stock Appreciation Rights 

6.1 Grant of SARs. A Stock Appreciation Right may be granted to an Eligible Participant in connection with an Option granted under
Article 5 of this Plan or may be granted independently of any Option. A Stock Appreciation Right shall entitle the holder, within the specified period, to exercise the SAR and receive in exchange therefor a payment having an aggregate value
equal to the amount by which the Fair Market Value of a Share on the date of exercise exceeds the exercise price, times the number of Shares with respect to which the SAR is exercised. A SAR granted in connection with an Option (a “Tandem
SAR”) shall entitle the holder of the related Option, within the period specified for the exercise of the Option, to surrender the unexercised Option, or a portion thereof, and to receive in exchange therefor a payment having an aggregate value
equal to the amount by which the Fair Market Value of a Share on the date of exercise exceeds the Option Price per Share, times the number of Shares under the Option, or portion thereof, which is surrendered. 

6.2 Tandem SARs. Each Tandem SAR shall be subject to the same terms and conditions as the related Option, including limitations on
transferability, and shall be exercisable only to the extent such Option is exercisable and shall terminate or lapse and cease to be exercisable when the related Option terminates or lapses. The grant of Stock Appreciation Rights related to ISOs
must be concurrent with the grant of the ISOs. With respect to NQSOs, the grant either may be concurrent with the grant of the NQSOs, or in connection with NQSOs previously granted under Article 5, which are unexercised and have not terminated
or lapsed. 
 6.3 Payment. The Board shall have sole discretion to determine in each Agreement whether the payment with respect
to the exercise of an SAR will be in the form of all cash, all Shares, or any combination thereof. If payment is to be made in Shares, the number of Shares shall be determined based on the Fair Market Value of a Share on the date of exercise. If the
Board elects to make full payment in Shares, no fractional Shares shall be issued and cash payments shall be made in lieu of fractional shares. The Board shall set forth in each Agreement in its sole discretion the timing of any payment due to the
Participant by virtue of the exercise of SARs. Payment may be made in a lump sum, in annual installments or may be otherwise deferred as set forth in the Agreement; and the Board shall have sole discretion to determine whether any deferred payments
may bear amounts equivalent to interest or cash dividends. 

  
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 6.4 Exercise of SARs. Upon exercise of a Tandem SAR, the number of Shares
subject to exercise under any related Option shall automatically be reduced by the number of Shares represented by the Option or portion thereof which is surrendered. 

Article 7—Restricted Stock 

7.1 Grant of Restricted Stock. Restricted Stock Awards may be made to Eligible Participants as a reward for past service or as an
incentive for the performance of future services that will contribute materially to the successful operation of the Employer. Awards of Restricted Stock may be made either alone or in addition to or in tandem with other Awards granted under the Plan
and may be current grants of Restricted Stock or deferred grants of Restricted Stock. 
 7.2 Restricted Stock Agreement. The
Restricted Stock Agreement shall set forth the terms of the Award, as determined by the Board, including, without limitation, the purchase price, if any, to be paid for such Restricted Stock, which may be more than, equal to, or less than Fair
Market Value and may be zero, subject to such minimum consideration as may be required by Applicable Law; the restrictions applicable to the grant or vesting of the Restricted Stock such as continued service or achievement of Performance Measures,
the length of the Restriction Period and whether any circumstances, such as death, retirement, Disability, or a Change in Control, will shorten or terminate the Restriction Period; and rights of the Participant to vote or receive dividends with
respect to the Shares during the Restriction Period. 
 Notwithstanding Section 3.4 of the Plan, a Restricted Stock Award must be accepted within a period of
sixty (60) days, or such other period as the Board may specify, by executing a Restricted Stock Agreement and paying whatever price, if any, is required. The prospective recipient of a Restricted Stock Award shall not have any rights with
respect to such Award, unless and until such recipient has executed a Restricted Stock Agreement and has delivered a fully executed copy thereof to the Board, and has otherwise complied with the applicable terms and conditions of such Award. 

7.3 Nontransferability. Except as otherwise provided in this Article 7, no shares of Restricted Stock received by a
Participant shall be sold, exchanged, transferred, pledged, hypothecated or otherwise disposed of during the Restriction Period. 
 7.4
Certificates. Upon an Award of Restricted Stock to a Participant, Shares of Restricted Stock shall be registered in the Participant’s name (or an appropriate book entry shall be made). Certificates, if issued, may either be held in
custody by the Company until the Restriction Period expires or until restrictions thereon otherwise lapse and/or be issued to the Participant and registered in the name of the Participant, bearing an appropriate restrictive legend and remaining
subject to appropriate stop-transfer orders. If required by the Board, the Participant shall deliver to the Company one or more stock powers endorsed in blank relating to the Restricted Stock. If and when the Restriction Period expires without a
prior forfeiture of the Restricted Stock subject to such Restriction Period, unrestricted certificates for such shares shall be delivered to the Participant; provided, however, that the Board may cause such legend or legends to be placed on any such
certificates as it may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission and any applicable federal or state law. 

7.5 Dividends and Other Distributions. Except as provided in this Article 7 or in the Award Agreement, a Participant
receiving a Restricted Stock Award shall have, with respect to such Restricted Stock Award, all of the rights of a stockholder of the Company, including the right to vote the Shares to the extent, if any, such Shares possess voting rights and the
right to receive any dividends; provided, however, the Board may require that any dividends on such Shares of Restricted Stock shall be automatically deferred and reinvested in additional Restricted Stock subject to the same restrictions as the
underlying Award, or may require that dividends and other distributions on Restricted Stock shall be paid to the Company for the account of the Participant. The Board shall determine whether interest shall be paid on such amounts, the rate of any
such interest, and the other terms applicable to such amounts. In addition, with respect to Named Executive Officers, the Board may apply any restrictions it deems appropriate to the payment of 

  
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dividends declared with respect to Restricted Stock such that the dividends and/or Restricted Stock maintain eligibility for the performance-based compensation exception under Code
Section 162(m). 
 7.6 Restricted Stock Units (or RSUs). Awards of Restricted Stock Units may be made to Eligible
Participants in accordance with the following terms and conditions: 
  

	(a)	 The Board, in its discretion, shall determine the number of RSUs to grant to a Participant, the Restriction Period and
other terms and conditions of the Award, including whether the Award will be paid in cash, Shares or a combination of the two and the time when the Award will be payable (i.e., at vesting, termination of employment, Change in Control or another
date). 

  

	(b)	 Unless the Agreement provides otherwise, RSUs shall not be sold, transferred or otherwise disposed of and shall not be
pledged or otherwise hypothecated. 

  

	(c)	 Restrictions upon RSUs awarded hereunder shall lapse at such time or times and on such terms and conditions as the Board
may provide in the Agreement. Unless the Agreement provides otherwise, in the event of a Change in Control, all restrictions upon any RSUs shall lapse immediately and all such RSUs shall become fully vested in the Participant. 

 

	(d)	 The Agreement shall set forth the terms and conditions that shall apply upon the termination of the Participant’s
employment with the Employer (including a forfeiture of RSUs for which the restrictions have not lapsed upon Participant’s ceasing to be employed) as the Board may, in its discretion, determine at the time the Award is granted. An Award of
Restricted Stock Units may provide the holder thereof with dividends or dividend equivalents, payable in cash or in additional Restricted Stock Units (or a combination thereof), as determined by the Board, on a current or deferred basis. Such
dividends or dividend equivalents may be subject to the same accrual, forfeiture, and payout restrictions as apply to dividends earned with respect to Restricted Stock, as set forth in Section 7.5 herein. 

Article 8—Performance Shares 

8.1 Grant of Performance Shares. Performance Shares may be granted to Eligible Participants in such amounts and upon such terms as
are consistent with this Plan, and at any time and from time to time, as shall be determined by the Board. 
 8.2 Performance Share
Agreement. In the Performance Share Agreement, the Board shall set the Performance Measures in its discretion which, depending on the extent to which they are met, will determine the number of Performance Shares that will be paid out to the
Participant. For purposes of this Article 8, the time period during which the Performance Measures must be met shall be called a “Performance Period.” 

8.3 Earning of Performance Shares. Subject to the terms of this Plan and the applicable Agreement, after the applicable
Performance Period has ended, the holder of Performance Shares shall be entitled to receive a payout of the number of Performance Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the
corresponding Performance Measures have been achieved. 
 8.4 Form and Timing of Payment of Performance Shares. Subject to the
terms of this Plan and the applicable Agreement, the Board, in its sole discretion, may pay earned Performance Shares in the form of cash or in Shares (or in a combination thereof) which has an aggregate Fair Market Value equal to the value of the
earned Performance Shares at the close of the applicable Performance Period. Such Shares may be granted subject to any restrictions deemed appropriate by the Board. The Board shall have sole discretion as to the timing of any payment made in cash or
Shares, or a combination thereof. The determination of the Board with respect to the form and timing of payout of such Awards shall be set forth in the Award Agreement pertaining to the grant of the Award. 

  
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 Except as otherwise provided in the Participant’s Award Agreement, a Participant shall be entitled to receive any
dividends declared subsequent to the end of the Performance Period with respect to earned grants of Performance Shares that have not yet been distributed to the Participant (such dividends shall be subject to the same accrual, forfeiture, and payout
restrictions as apply to dividends earned with respect to Restricted Stock, as set forth in Section 7.5 herein). In addition, unless otherwise provided in the Participant’s Award Agreement, a Participant shall be entitled to exercise full
voting rights with respect to earned Performance Shares. 
 8.5 Nontransferability. Except as otherwise provided in a
Participant’s Award Agreement, Performance Shares may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated by a Participant, other than by will or by the laws of descent and distribution of the state in which the
Participant resided on the date of his death. Further, except as otherwise provided in a Participant’s Award Agreement, a Participant’s rights under the Award shall be exercisable during the Participant’s lifetime only by the
Participant or the Participant’s guardian or legal representative. 
 Article 9–Phantom Stock Units

 9.1 Grant of Phantom Stock Units. Phantom Stock Units may be granted to Eligible Participants in such amounts and
upon such terms as are consistent with this Plan, and at any time and from time to time, as shall be determined by the Board. 
 9.2
Phantom Stock Agreement. The Phantom Stock Agreement shall set forth the terms of the Phantom Stock Units, as determined by the Board, including, without limitation, the vesting schedule, the period during which the Phantom Stock Units must
be converted, if at all, and the “Award Value” of each Phantom Stock Unit (which shall be the Fair Market Value of a Share as of the date of grant of the related Phantom Stock Unit). 

9.3 Amount, Form and Timing of Payment. Subject to the terms of this Plan and the applicable Agreement, a Phantom Stock Unit shall
entitle the holder, within the specified conversion period, to convert vested Phantom Stock Units into property with a value equal to the difference between the Award Value and the Fair Market Value of a Share on the conversion date times the number
of Phantom Stock Units converted. The Board, in its sole discretion, may pay the amount to which the holder is entitled in the form of cash or in Shares (or in a combination thereof). Shares issued in payment may contain such restrictions deemed
appropriate by the Board. If payment is to be made in Shares, the number of Shares shall be determined based on the Fair Market Value of a Share on the date of conversion. If the Board elects to make full payment in Shares, no fractional Shares
shall be issued and cash payments shall be made in lieu of fractional shares. The determination of the Board with respect to the form and timing of payout of Phantom Stock Units shall be set forth in the Award Agreement pertaining to the grant of
the Award. 
 9.4 Nontransferability of Award. Except as otherwise provided in a Participant’s Award Agreement, Phantom
Stock Units may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated by a Participant, other than by will or by the laws of descent and distribution of the state in which the Participant resided on the date of his
death. Further, except as otherwise provided in a Participant’s Award Agreement, a Participant’s rights under the Award shall be exercisable during the Participant’s lifetime only by the Participant or the Participant’s guardian
or legal representative. 
 Article 10—Other Stock-Based Awards 

10.1 Terms of Other Stock-Based Awards. Other Stock-Based Awards may be granted to Eligible Participants, in such amounts and upon
such terms as are consistent with this Plan, and at any time and from time to time, as shall be determined by the Board. An Other Stock-Based Award is an award, the value of which is based in whole or in part on the value of Shares, that is not an
Award specified in Article 5, 6, 7, 8 or 9 of the Plan. Other Stock-Based Awards may be awards of Shares or may be 

  
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denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible or exchangeable into or
exercisable for Shares), as determined by the Board, consistent with the purposes of the Plan. The Board may provide that such Awards are payable in cash or Shares (or a combination thereof). Shares issued in payment may contain such restrictions
deemed appropriate by the Board. If payment is to be made in Shares, the number of Shares shall be determined based on the Fair Market Value of a Share on the date that payment is due pursuant to the applicable Agreement. If the Board elects to make
full payment in Shares, no fractional Shares shall be issued and cash payments shall be made in lieu of fractional shares. The determination of the Board with respect to the form and timing of payout of Other Stock-Based Awards shall be set forth in
the Award Agreement pertaining to the grant of the Award. 
 10.2 Dividend Equivalents. An Other Stock-Based Award may provide
the holder thereof with dividends or dividend equivalents, payable in cash or in Shares (or a combination thereof), as determined by the Board, on a current or deferred basis. Such dividends or dividend equivalents may be subject to the same
accrual, forfeiture, and payout restrictions as apply to dividends earned with respect to Restricted Stock, as set forth in Section 
7.5 herein. 
 10.3 Nontransferability of Award. Except as otherwise provided in a Participant’s Award Agreement, Other
Stock-Based Awards may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated by a Participant, other than by will or by the laws of descent and distribution of the state in which the Participant resided on the date of
his death. Further, except as otherwise provided in a Participant’s Award Agreement, a Participant’s rights under an Award shall be exercisable during the Participant’s lifetime only by the Participant or the Participant’s
guardian or legal representative. 
 Article 11—Management Share Purchase Plan 

11.1 Share Purchase Rights. Share Purchase Rights may be granted to Participants upon such terms as are consistent with this Plan,
and at any time and from time to time, as shall be determined by the Board. Share Purchase Rights allow Eligible Participants to forego the receipt of all or a portion of cash compensation (including bonuses and, in the case of non-employee Directors, annual retainers and meeting fees) and to receive such compensation in the form of Shares or Restricted Stock Units. Such Shares or RSUs available for purchase will be subject to any
restrictions deemed appropriate by the Board, as set forth in the Share Purchase Agreement. 
 11.2 Share Purchase Agreement.
When the Board determines to award Share Purchase Rights to an Eligible Participant, it shall deliver a Share Purchase Agreement to the Eligible Participant setting forth all of the terms, conditions and restrictions related to the Award, including
the amount of compensation that the Eligible Participant may defer for the Share or RSU purchase, the price per Share or RSU to be paid, the vesting schedule, and the time within which the Eligible Participant must accept the Award. The Agreement
shall also set forth the terms of any Company matching contribution to be paid in the form of additional Shares or RSUs. The Award shall be accepted by execution and delivery of the Share Purchase Agreement in the form and by the time determined by
the Board. 
 11.3 Repurchase Option. The Share Purchase Agreement may grant the Company an option to repurchase Shares or RSUs
that have not vested, exercisable upon the voluntary or involuntary termination of the purchaser’s service with the Company for any reason (including death or disability). The purchase price for Shares or RSUs so repurchased shall be the
original price paid by the Participant and may be paid by cancellation of any indebtedness owed by the Participant to the Company. 

11.4 Transferability. Rights to purchase Shares or RSUs under a Share Purchase Agreement shall be transferable by the Participant
only upon such terms and conditions as are set forth in the Share Purchase Agreement; provided, however, that the transferability of Shares or RSUs purchased pursuant to the Agreement shall remain subject to any restrictions applicable to those
Shares or RSUs as set forth in the Share Purchase Agreement. 

  
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 Article 12—Performance Measures 

Until the Board proposes for stockholder vote and stockholders approve a change in the general Performance Measures set forth in this Article 12, the attainment of
which may determine the degree of payout and/or vesting with respect to Named Executive Officers’ Awards that are intended to qualify under the performance-based compensation provisions of Code Section 162(m), the Performance Measure(s) to
be used for purposes of such Awards shall be chosen from among the following: earnings, earnings per share, consolidated pre-tax earnings, net earnings, operating income, EBIT (earnings before interest and
taxes), EBITDA (earnings before interest, taxes, depreciation and amortization), gross margin, revenues, revenue growth, market value added, economic value added, return on equity, return on investment, return on assets, return on net assets, return
on capital employed, return on sales, total stockholder return, profit, economic profit, capitalized economic profit, after-tax profit, pre-tax profit, cash flow
measures, cash flow return, sales, sales volume, inventory turnover ratio, stock price, cost, and/or unit cost, or any function of any of the foregoing factors. The Board can establish other Performance Measures for performance Awards granted to
Eligible Participants that are not Named Executive Officers. For any Performance Period, the targeted level or levels of performance with respect to chosen Performance Measures may be established on an absolute basis or relative to a group of peer
companies selected by the Board, relative to internal goals or relative to levels attained in prior years. 
 The Board shall be authorized to make adjustments in
performance based criteria or in the terms and conditions of other Awards in recognition of unusual or nonrecurring events affecting the Company or its financial statements or changes in Applicable Law or accounting principles. The Board shall also
have the discretion to adjust the determinations of the degree of attainment of the pre-established Performance Measures. Notwithstanding the foregoing, with respect to Awards which are intended to qualify for
the performance-based compensation exception from the deductibility limitations of Code Section 162(m), and which are held by Named Executive Officers, (a) the amount of compensation payable under any such Award may not be adjusted upward,
but the Board shall retain the discretion to adjust such Awards downward, and (b) the Board may not adjust any such Award’s targeted level of attainment of Performance Measures after the first ninety (90) days of the Award’s
Performance Period, except, in either case, as a result of adjustments permitted by this paragraph and Code Section 162(m) and the regulations promulgated thereunder. 

If applicable tax and/or securities laws change to permit Board discretion to alter the governing Performance Measures without obtaining stockholder approval of such
changes, the Board shall have sole discretion to make such changes without obtaining stockholder approval. In addition, if the Board determines that it is advisable to grant Awards which shall not qualify for the performance-based compensation
exception from the deductibility limitations of Code Section 162(m), the Board may make such grants without satisfying the requirements of Code Section 162(m). 

Article 13—Beneficiary Designation 

Each Participant under the Plan may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under
the Plan is to be paid in case of his or her death before he or she receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Board, and will be
effective only when filed by the Participant in writing with the Board during the Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s
estate. 
 Article 14—Deferrals 

To the extent set forth in the Agreement evidencing an Award, the Board may permit or require a Participant to defer under this Plan or to a separate deferred
compensation arrangement of the Company such Participant’s receipt of the payment of cash or the delivery of Shares that would otherwise be due to 

  
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such Participant by virtue of the exercise of an Option, SAR, or Share Purchase Right, the lapse or waiver of restrictions with respect to Restricted Stock, the conversion or vesting of
Restricted Stock Units or Phantom Stock Units or the satisfaction of any requirements or goals with respect to Performance Shares or Other Stock-Based Awards. If any such deferral election is required or permitted, the Board shall, in its sole
discretion, establish rules and procedures for such payment deferrals. 
 Notwithstanding anything in this Plan or any Agreement to the contrary, however, with
respect to all compensation deferred under this Plan or any Agreement within the meaning of Section 409A(a)(1)(A) of the Code (other than Options lacking any deferral feature other than the feature that the Option holder has the right to
exercise the Option in the future), whether by action of the Board or by the election of the Participant, this Plan incorporates and makes applicable to such deferred compensation the requirements of paragraphs (2), (3) and (4) of
Section 409A(a) of the Code. If changes are made to Section 409A of the Code or regulations are promulgated thereunder, in either case to permit greater flexibility with respect to any Awards under the Plan that constitute deferred
compensation, the Board may, subject to the requirements of Article 
17, make any adjustments it deems appropriate. 
 Article 15—Withholding 

15.1 Tax Withholding. The Company shall have the power and the right to deduct or withhold from any cash or property payable to a
Participant under the Plan, or require a Participant to remit to the Company, an amount sufficient to satisfy Federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event
arising as a result of this Plan. 
 15.2 Share Withholding. With the consent of the Board, with respect to withholding required
upon the exercise of Options, SARS or Share Purchase Rights, upon the lapse of restrictions on Restricted Stock, or upon any other taxable event arising from the Company’s obligation to issue or transfer Shares to a Participant under the Plan,
the Participant may satisfy the withholding requirement by having the Company withhold Shares having a Fair Market Value on the date the withholding obligation is incurred equal to the amount of tax required to be withheld with respect to the
transaction. All such elections shall be subject to any restrictions or limitations that the Board, in its sole discretion, deems appropriate. 

Article 16—Foreign Employees 

In order to facilitate the making of any grant of Awards under this Plan, the Board may provide for such special terms for Awards to Participants who are foreign
nationals or who are employed by the Company or any Employer outside of the United States of America as the Board may consider necessary or appropriate to accommodate differences in local law, tax policy or custom, which special terms may be
contained in an Appendix attached hereto. Moreover, the Board may approve such supplements to or amendments, restatements or alternative versions of this Plan as it may consider necessary or appropriate for such purposes, without thereby affecting
the terms of this Plan as in effect for any other purpose, and the Secretary or other appropriate officer of the Company may certify any such document as having been approved and adopted in the same manner as this Plan. No such special terms,
supplements, amendments or restatements, however, shall include any provisions that are inconsistent with the terms of this Plan as then in effect unless this Plan could have been amended to eliminate such inconsistency without further approval by
the shareholders of the Company. 
 Article 17—Amendment and Termination 

17.1 Amendment of Plan. The Board may at any time terminate or from time to time amend the Plan in whole or in part, but no such
action shall adversely affect any rights or obligations with respect to any Awards previously granted under the Plan, unless the affected Participants consent in writing. To the extent required by Applicable Law, no amendment shall be effective
unless approved by the stockholders of the Company at an annual or special meeting. To the extent the Board deems it desirable to maintain the Plan’s eligibility for the benefits of Code Section 162(m) or 422, the Board shall obtain
stockholder approval of any Plan amendment to the extent necessary to comply with those provisions. 

  
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 17.2 Amendment of Award Agreement. The Board may, at any time, without further
action by the stockholders and without consent of or receiving further consideration from the affected Participants, amend outstanding Awards and Award Agreements in response to, or to comply with changes in, Applicable Law. To the extent not
inconsistent with the terms of the Plan, the Board may, at any time, amend an outstanding Agreement in a manner that is not unfavorable to the Participant without the consent of such Participant. The Board may amend Awards and Award Agreements
otherwise with the written consent of the Participant. Notwithstanding the above provision, the Board shall not have the authority to decrease the Option Price of any outstanding Option or the exercise price of any outstanding SAR, or to permit the
exchange of any Option or SAR for an Option or SAR with a lower Option Price or exercise price, except in accordance with Section 4.3, without the prior approval of the holders of a majority of the Company’s Shares present in person or by
proxy and voting at a duly called meeting of the stockholders of the Company. 
 17.3 Termination of Plan. No Awards shall be
granted under the Plan later than ten (10) years after the Effective Date; provided, however, that the Plan and all Awards made under the Plan prior to such date shall remain in effect until such Awards have been satisfied or terminated in
accordance with the Plan and the terms of such Awards. 
 17.4 Cancellation of Awards. The Board may provide in the Award
Agreement that if a Participant engages in any “Detrimental Activity” (as defined below) during the period that a Participant is employed by the Company or during the two (2) year period following the Participant’s voluntary
termination of employment or his termination by the Company for Cause (as defined in Section 2.5 above), the Board may, notwithstanding any other provision in this Plan to the contrary, (a) cancel, rescind, suspend, withhold or otherwise
restrict or limit any unexpired, unexercised, unpaid or deferred Award as of the first date the Participant engages in the Detrimental Activity, unless sooner terminated by operation of another term of this Plan or any other Agreement, and
(b) with respect to any exercised or paid Award, require the Participant, upon thirty (30) days’ written notice from the Company, to return to the Company, in immediately available funds, the excess of the fair market value of the
Shares subject to the Award as of the date of exercise or receipt over the total price paid by the Participant for such Shares. 
 For purposes of this Section,
engaging in “Detrimental Activity” means that the Participant, without the prior written consent of the Board, directly or indirectly, as employee, agent, consultant, stockholder, director,
co-partner or in any other individual or representative capacity, owns, operates, manages, controls, engages in, invests in or participates in any manner in, acts as a consultant or advisor to, renders
services for, or otherwise assists any person or entity that directly or indirectly engages in, the business of producing, marketing, distributing or selling poultry or processed food products anywhere that the Company is then doing business.
“Detrimental Activity” shall not include the passive investment by the Participant in publicly traded common equity of any entity that is engaged in the business of producing, marketing, distributing or selling poultry or processed food
products so long as such investment does not exceed two percent (2%) of the outstanding common equity of such entity. The determination of whether a Participant has engaged in Detrimental Activity shall be determined by the Board in good faith
and in its sole discretion, and any such determination by the Board shall be final and binding on the Participant. The Board may in any Agreement change the definition of “Detrimental Activity” to the extent necessary to comply with
Applicable Law. 
 17.5 Adjustments Upon Change in Control and Other Events. Subject to compliance with the applicable
requirements of paragraphs (2), (3) and (4) of Section 409A(a) of the Code in the case of any Award that constitutes compensation deferred under the Plan within the meaning of Section 409A(a)(1) of the Code, the Board may provide
in the Agreement for any Award for automatic accelerated vesting, lapse of any restrictions and any other rights upon the occurrence of a Change in Control of the Company or upon the occurrence of other events as specified in the Agreement, which
rights may or may not be conditioned on a successor corporation’s failure to assume the Award or issue an equivalent award. 

  
 A-16 

Table of Contents

 Article 18—Miscellaneous Provisions 

18.1 Restrictions on Shares. All certificates for Shares delivered under the Plan shall be subject to such stop-transfer orders
and other restrictions as the Board may deem advisable under Applicable Law, and the Board may cause a legend or legends to be placed on any such certificates to make appropriate reference to such restrictions. In making such determination, the
Board may rely upon an opinion of counsel for the Company. 
 18.2 Rights of a Stockholder. Except as otherwise provided in
Article 7 of the Plan and in the Restricted Stock Agreement, each Participant who receives an Award of Restricted Stock shall have all of the rights of a stockholder with respect to such Shares, including the right to vote the Shares to the
extent, if any, such Shares possess voting rights and receive dividends and other distributions. Except as provided otherwise in the Plan or in an Agreement, no Participant awarded an Option, Stock Appreciation Right, Restricted Stock Unit, Phantom
Stock Unit, Performance Share, Other Stock-Based Award or Share Purchase Right shall have any right as a stockholder with respect to any Shares covered by such Award prior to the date of issuance to him or her of a certificate or certificates for
such Shares. 
 18.3 No Implied Rights. Nothing in the Plan or any Award granted under the Plan shall confer upon any
Participant any right to continue in the service of the Employer, or to serve as a Director thereof, or interfere in any way with the right of the Employer (except as it may otherwise be limited by a written agreement between the Company and the
Participant) to terminate the Participant’s employment or other service relationship for any reason at any time. Unless agreed by the Board, no Award granted under the Plan shall be deemed salary or compensation for the purpose of computing
benefits under any employee benefit plan, severance program, or other arrangement of the Employer for the benefit of its employees. No Participant shall have any claim to an Award until it is actually granted under the Plan. To the extent that any
person acquires a right to receive payments from the Company under the Plan, such right shall, except as otherwise provided by the Board, be no greater than the right of an unsecured general creditor of the Company. 

18.4 Non-Uniform Determinations. The Board’s determinations under the Plan (including
without limitation determinations of the Eligible Participants to receive Awards, the form, amount and timing of such Awards, the terms and provisions of such Awards and the Agreements evidencing Awards) need not be uniform and may be made by it
selectively among Participants and Eligible Participants, whether or not such persons are similarly situated. 
 18.5 Compliance
with Laws. 
  

	(a)	 To the extent that the Board intends an Award to qualify as performance-based compensation for purposes of
Section 162(m)(4)(C) of the Code, it must be granted subject to the achievement of Performance Measures as described in Article 12 of the Plan and all other requirements of said Code Section 162(m)(4)(C) must be satisfied. In addition, if
changes are made to Code Section 162(m) to permit greater flexibility with respect to any Awards under the Plan, the Board may, subject to the requirements of Article 17, make any adjustments it deems appropriate. 

 

	(b)	 The Plan and the grant of Awards shall be subject to all Applicable Law and to such approvals by any United States
government or regulatory agency as may be required. Any provision herein relating to compliance with Rule 16b-3 under the Exchange Act shall not be applicable with respect to participation in the Plan by
Participants who are not Insiders. 

  

	(c)	 Notwithstanding any other provision of the Plan, the Company shall have no liability to deliver any Shares under the Plan
or make any other distribution of the benefits under the Plan unless such delivery or distribution would comply with all Applicable Laws (including, without limitation, the requirements of the Securities Act of 1933). 

  
 A-17 

Table of Contents

	(d)	 Each Award under the Plan shall be subject to the requirement that, if at any time the Board shall determine that
(i) the listing, registration or qualification of the Shares subject or related thereto upon any securities exchange or under any Applicable Law, or (ii) the consent or approval of any government regulatory body, or (iii) an agreement
by the grantee of an Award with respect to the disposition of Shares, is necessary or desirable as a condition of, or in connection with, the granting of such Award or the issue or purchase of Shares thereunder, such Award may not be consummated in
whole or in part unless such listing, registration, qualification, consent, approval or agreement shall have been effected or obtained free of any conditions not acceptable to the Board. 

 

	(e)	 As a condition to the issuance or transfer of any Shares pursuant to any Award, the Board may require the Participant to
represent and warrant at the time of such issuance or transfer that the Shares are being acquired only for investment and without any current intention to sell or distribute such Shares, if, in the opinion of counsel for the Company, such a
representation is advisable. 

 18.6 Successors. The terms of the Plan shall be binding upon the Company, and
its successors and assigns. 
 18.7 Tax Elections. Each Participant agrees to give the Board prompt written notice of any
election made by such Participant under Code Section 83(b) or any similar provision thereof. 
 18.8 Legal Construction.

  

	(a)	 Severability. If any provision of this Plan or an Agreement is or becomes or is deemed invalid, illegal or
unenforceable in any jurisdiction, or would disqualify the Plan or any Agreement under any law with respect to which the Plan is intended to qualify, such provision shall be construed or deemed amended to conform to Applicable Law or, if it cannot
be construed or deemed amended without, in the determination of the Board, materially altering the intent of the Plan or the Agreement, it shall be stricken and the remainder of the Plan or the Agreement shall remain in full force and effect.

  

	(b)	 Compliance with Section 409A of the Code. All Awards granted under the Plan are intended to be
either exempt from the requirements of Section 409A of the Code or, if not exempt, to satisfy the requirements of Section 409A (including the Treasury Department guidance and regulations issued thereunder), and the Plan shall be
administered, construed and interpreted in accordance with such intent. If the Board determines that an Award, Agreement, payment, transaction or any other action or arrangement contemplated by the provision of this Plan would, if undertaken, cause
a Participant to become subject to any additional taxes or other penalties under Section 409A, then unless the Board specifically provides otherwise, such Award, Agreement, payment, transaction or other action or arrangement shall not be given
effect to the extent that it causes such result and the related provision of the Plan or Agreement will be deemed modified or, if necessary, suspended in order to comply with the requirements of Section 409A of the Code to the extent determined
appropriate by the Board, in each case without the consent of or notice to the Participant. In any case, a Participant will be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on a Participant in
connection with Awards (including any taxes and penalties under Section 409A) and the Company will have no obligation to indemnify or otherwise hold a Participant harmless from any or all of such taxes or penalties. 

In addition, notwithstanding any other provision of the Plan or an Agreement to the contrary, the Company will not pay or accelerate the payment of any amount that
constitutes “deferred compensation” within the meaning of Section 409A in violation of Section 409A. To the extent any amount of “deferred compensation” would otherwise vest and become payable upon a Change in Control
or upon a Disability, 

  
 A-18 

Table of Contents

 
as set forth herein or in an Agreement, any such Award may vest but payment shall not be accelerated unless the Change in Control also satisfies the definition of “change in the
ownership” “change in the effective control” and/or “change in the ownership of a substantial portion of the assets” of the Company as those terms are defined in Treasury Regulations
Section 1.409A-3(i)(5) (or such other regulation or guidance issued under Section 409A) or the Disability also satisfies the definition of “disability” as that term is defined in Treasury
Regulations Section 1.409A-3(i)(4) (or such other regulation or guidance issued under Section 409A). 
 Any amount
that constitutes “deferred compensation” within the meaning of Section 409A and is payable under the Plan or an Agreement solely by reason of a Participant’s termination of employment shall be payable only if the Participant has
experienced a “separation from service” within the meaning of Section 409A (or the regulations or guidance issued under Section 409A), provided that if the Participant is a “specified employee” within the meaning of
Section 409A at the time of such separation from service, as determined by the Board in accordance with Section 409A, no payments shall be made before the six (6) month anniversary of the Participant’s separation from service, at
which time all payments that would otherwise have been made during such six (6) month period shall be paid to the Participant in a lump sum. 
  

	(c)	 Gender and Number. Where the context admits, words in any gender shall include the other gender, words in the
singular shall include the plural and words in the plural shall include the singular. 

  

	(d)	 Governing Law. To the extent not preempted by federal law, the Plan and all Agreements hereunder shall be
construed in accordance with and governed by the laws of the State of Mississippi. 

 18.9 Plan Year. The Plan
Year shall be a calendar year. 

  
 A-19 

Table of Contents

 IN WITNESS WHEREOF, this Plan is executed as of this the
             day of                     , 2020. 

 

			
	By:	 	  

		 	Authorized Officer
	
	ATTEST:
	
	Secretary

  
 A-20de_Ex10.1

		
			EXHIBIT 10.1
		

		
			 
		

		
			SECOND AMENDMENT TO ASSET PURCHASE AGREEMENT
		

		
			 
		

		
			THIS SECOND AMENDMENT TO ASSET PURCHASE AGREEMENT (this “Amendment”) is entered into as of this 21st day of February, 2020, by and between DEERE CAPITAL, INC., a Nevada corporation with its principal office located in Reno, Nevada (“Purchaser”), and DEERE & COMPANY, a Delaware corporation with its principal office located in Moline, Illinois (“Seller”).
		

		
			 
		

		
			RECITALS
		

		
			 
		

		
			WHEREAS, Seller and Purchaser previously entered into that certain Asset Purchase Agreement dated as of October 29, 2001, whereby Seller sold certain current and future assets to Purchaser, as amended by that certain First Amendment to Asset Purchase Agreement dated as of February 2010 (the “Agreement”); and
		

		
			 
		

		
			WHEREAS, Seller and Purchaser wish to modify the scope of the Agreement to exclude certain U.S. wholesale receivables.
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the mutual covenants and promises set forth in this Amendment and for other good and valuable consideration, the receipt and sufficiency of which are expressly acknowledged by the parties hereto, the parties agree as follows:
		

		
			 
		

		
			1.         Amendments to Agreement.  The definition of “Receivables” set forth in Article I of the Agreement is, effective November 4, 2019, amended and restated in its entirety with the following:
		

		
			 
		

		
			“"Receivables" means, as of any date, each and all of Seller's outstanding accounts receivable or notes receivable as of such date with a United States Dealer as an account debtor or notemaker, other than those accounts receivable or notes receivable that have been identified and/or sold by Seller to Deere Credit, Inc. pursuant to that certain Asset Purchase Agreement dated as of November 4, 2019 by and between Seller and Deere Credit, Inc.”
		

		
			 
		

		
			2.         Reference to and Effect Upon Agreement.  Except as expressly amended by this Amendment, the terms and conditions of the Agreement remain in full force and effect.  For ease of reference, a conformed copy of the Agreement incorporating all amendments to date is attached hereto as Exhibit A. This Amendment constitutes the entire understanding of the parties hereto and supersedes all prior understandings of the parties relating to the matters discussed herein.  This Amendment may only be amended or modified by the terms of a written instrument signed by all parties hereto.
		

		
			 
		

		
			3.         Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purposes.
		

		
			 
		

		
			4.         Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an original but all such counterparts shall constitute one and the same instrument.
		

		
			 
		

		
			[signature page follows]
		

		
			 
		

		
			
		

		
			

		 

		

			1

		

		

		
			 
		

		
			IN WITNESS WHEREOF, the parties have duly executed this Amendment as of the day and year first written above.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						DEERE & COMPANY

					
					
						 

					
					
						DEERE CAPITAL, INC.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Ryan D. Campbell

					
					
						 

					
					
						By: 

					
					
						/s/ Rajesh Kalathur

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						Ryan D. Campbell

					
					
						 

					
					
						Name: 

					
					
						Rajesh Kalathur

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Title: 

					
					
						Senior Vice President and
Chief Financial Officer

					
					
						 

					
					
						Title:

					
					
						President

				

		
			 
		

		
			 
		

		
			

		 

		

			2

		

		

		
			 
		

		
			Exhibit A
		

		
			 
		

		
			This document is a composite conformed copy of the Asset Purchase Agreement dated October 29, 2001 as amended through the Second Amendment as of February 21, 2020.
		

		
			 
		

		
			ASSET PURCHASE AGREEMENT
		

		
			 
		

		
			THIS ASSET PURCHASE AGREEMENT (the "Agreement") is entered into as of 29 October, 2001 between DEERE CAPITAL, INC. a Nevada corporation with its principal office located in Reno, Nevada ("Purchaser"), and DEERE & COMPANY, a Delaware corporation located in Moline, Illinois ("Seller").
		

		
			 
		

		
			RECITALS
		

		
			 
		

		
			A.  Seller is in the business of manufacturing and selling equipment to Dealers and in the operation of this business is the owner of certain Receivables.
		

		
			 
		

		
			B.  Seller expects, in continuing to conduct its business, to generate Future Receivables.
		

		
			 
		

		
			C.  Seller has invited Purchaser to purchase the Receivables and Future Receivables and Purchaser has agreed to purchase the Receivables and Future Receivables under the terms and conditions set forth herein.
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the mutual covenants set forth in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
		

		
			 
		

		
			ARTICLE I. DEFINITIONS
		

		
			 
		

		
			1.Certain Definitions.  The following capitalized terms shall have the meanings ascribed to them below:
		

		
			 
		

		
			"Account" means the total amount of Receivables or Future Receivables that are currently owed, or may in the future be owed, to Seller by any particular Dealer or other Obligor, together with the obligation to make future advances to such Dealer or other Obligor.
		

		
			 
		

		
			"Adverse Consequences" means any claim, damage, loss, cost or expense (including, attorneys' fees and expenses) or any other liability of every nature, kind and description whatsoever including, without limitation, acts or liabilities to third parties incurred or suffered by an Indemnified Party, but excluding lost profits, by reason of or resulting from or arising out of any of the occurrences described in Article IX of this Agreement.
		

		
			 
		

		
			"Agreement" means this Asset Purchase Agreement, together with all schedules, exhibits, supplements and documents that are attached hereto or incorporated by reference.
		

		
			 
		

		
			"Assets" means, collectively, the Purchased Assets and the Subsequent Assets.
		

		
			 
		

		
			
		

		
			

		 

		

			1

		

		

		
			 
		

		
			"Audited Closing Payment" means the payment adjustment which shall be made in response to the Verification Audit.
		

		
			 
		

		
			"Books and Records" means (a) all information, in whatever form maintained (and if maintained electronically, then with the relevant electronic file layout), about the Accounts, the Receivables, the Files and the Dealers or other Obligors contained in the Seller's Systems, excluding Seller's proprietary or confidential management information, and, if requested, reasonable explanations of any data field which is derived from a calculation; (b) the Files and the alphabetical and numerical indices necessary to access such microfilmed or microfiche documents; and (c) all collection and other customer service notes and other historical information with respect to the Receivables and the Dealers or other Obligors.
		

		
			 
		

		
			"Closed Account" means any Account that has been terminated by either the Dealer or Seller for any reason, whether or not such Account has an outstanding principal balance.
		

		
			 
		

		
			"Closing" has the meaning provided in Section 2.1(E) of this Agreement.
		

		
			 
		

		
			"Closing Audit" means the audit of a Closing Statement including all reports, statements and documents referred to therein or related thereto, conducted pursuant to Section 2.2(D) hereof.
		

		
			 
		

		
			"Closing Date" means (i) the Initial Closing Date and (ii) each Subsequent Closing Date.
		

		
			 
		

		
			"Closing Electronic Record" means the record provided by Seller and delivered to Purchaser as part of a Closing that reflects the Receivables as of the close of business on the day prior to the Closing Date. 
		

		
			 
		

		
			"Closing Statement" means a statement, in the form set forth in Exhibit 2.2 (C) attached hereto, which sets forth the calculation of the relevant Purchase Price.
		

		
			 
		

		
			"Collateral" has the meaning provided in Section 2.1(A) of this Agreement.
		

		
			 
		

		
			"Dealer" means any Person who has currently (i) an effective appointment as a John Deere Company Authorized Agricultural Dealer and/or (ii) an effective appointment as a John Deere Company Authorized Lawn and Garden Dealer and/or (iii) any other appointment to sell goods which are manufactured or distributed by Seller and whose name appears on the Master Account List.
		

		
			 
		

		
			"Federal Funds Rate" means the Federal Funds Rate, as published in the Money Rates section of The Wall Street Journal for overnight deposits on the business day prior to the date any Payment is made, as quoted by Purchaser or Seller, as the case may be, which quotation shall be deemed correct in the absence of manifest error.
		

		
			 
		

		
			"File" means, with respect to each Account, the original or copy and any microfilm, microfiche, electronic or other copy of all Account information,
		

		
			
		

		
			

		 

		

			2

		

		

		
			 
		

		
			statements, documents and correspondence from or to the related Dealer or other Obligor or which otherwise is about the Receivables in such Account, all to the extent included within the definition of Books and Records.
		

		
			 
		

		
			"Future Receivables" means any of Seller's Receivables which are generated on or after the Initial Closing Date.
		

		
			 
		

		
			"Indemnified Party" means a party to whom an indemnification payment, as described in Article IX, may be due and owing.
		

		
			 
		

		
			"Indemnifying Party" means a party from whom an indemnification payment, as described in Article IX, may be due and owing.
		

		
			 
		

		
			"Initial Closing Date" means the date specified in Section 2.1(E).
		

		
			 
		

		
			"Knowledge" means the best knowledge, information and belief upon due inquiry.
		

		
			 
		

		
			"Lien" means a security interest or lien of any kind affecting any or all of the Accounts, specific Receivables or any Collateral.
		

		
			 
		

		
			"Master Account List" means the list provided by Seller and delivered to Purchaser on or before the Initial Closing Date that identifies every Account being sold to Purchaser as of the close of business on the business day immediately preceding the Initial Closing Date, together with the balances contained in such Account as of such date.
		

		
			 
		

		
			"Material Adverse Effect" means the material and adverse change in: (a) the ownership or enforceability of the Assets, or any of them; (b) the ability of Seller or Purchaser to perform its respective obligations under this Agreement or the ability of Seller or Purchaser to consummate any of the transactions contemplated hereby.
		

		
			 
		

		
			"Obligor" means, and shall only include with respect to any Account, any Person obligated to make payments with respect to such Account, including any guarantor thereof.
		

		
			 
		

		
			"Payments" means the Purchase Price paid on the Closing Date or upon any future purchase of Receivables and any payments pursuant to Section 2.2 (E).
		

		
			 
		

		
			"Person" means any legal person, including, without limitation, any natural person, corporation, partnership, joint venture, association, limited liability company, joint-stock company, business trust, unincorporated organization, governmental entity or any other entity of every nature, kind and  description.
		

		
			 
		

		
			"Portfolio" means the Receivables, whether such Receivables have been generated prior to or subsequent to this Agreement.
		

		
			 
		

		
			"Purchased Assets" means those assets identified in Section 2.1(A)(i) through (vii).
		

		
			 
		

		
			"Purchase Price" with respect to the Purchased Assets or the Subsequent
		

		
			
		

		
			

		 

		

			3

		

		

		
			 
		

		
			Assets, means the purchase price determined pursuant to the terms and provisions of this Agreement.
		

		
			 
		

		
			"Receivables" means, as of any date, each and all of Seller's outstanding accounts receivable or notes receivable as of such date with a United States Dealer as an account debtor or notemaker, other than those accounts receivable or notes receivable that have been identified and/or sold by Seller to Deere Credit, Inc. pursuant to that certain Asset Purchase Agreement dated as of November 4, 2019 by and among Seller, Purchaser, and Deere Credit, Inc.
		

		
			 
		

		
			"Receivable Agreement(s)" means the promissory notes, credit agreements, guaranties, applications, security agreements and other agreements entered into by and between Seller and Dealer or other Obligor or otherwise evidencing or governing the obligations of such Dealer or other Obligor under the Account. The Receivable Agreements exist in microfilm or microfiche form derived from signed paper Receivable Agreements identified by Account codes on microfiche or microfilm rolls.
		

		
			 
		

		
			"Repurchase Price" means, with respect to any Receivable, a sum equal to (a) the unpaid principal balance of the Receivable at the time of repurchase, plus (b) any billed and unpaid fees for such Receivable as of the date of repurchase by Seller, plus (c) interest from the last payment of interest on the Receivable to the date of such repurchase at the applicable interest rate charged on the Receivable as of the date of repurchase.
		

		
			 
		

		
			"Requirements of Law" with respect to any Person, means any certificate of incorporation, by-laws, agreements, or other organizational or governing documents of such Person, and any law, ordinance, statute, treaty, rule, judgment, regulation or determination or finding of any arbitrator or governmental authority applicable to or binding upon such Person or to which such Person is subject, whether federal, state, county, local or otherwise, (including, without limitation, usury or other credit laws, the Fair Debt Collection Practices Act, the Federal Equal Credit Opportunity Act, the Fair Credit Reporting Act, Regulation B of the Board of Governors of the Federal Reserve System, and any licensing requirement.)
		

		
			 
		

		
			"Seller's Policies and Procedures" means the standard methods which Seller uses to administer on an ongoing basis the Accounts and Receivables, whether the methods are written or oral. "Seller's System" means that or those systems, whether proprietary or commercial, used by Seller, or any agent thereof in the origination and servicing of the Receivables or payments thereon, including without limitation, any such system as Seller uses in collection of the Receivables, to capture checks and payments for processing or to track Receivable Agreements for Seller's Receivables.
		

		
			 
		

		
			"Subsequent Assets" means those assets identified in Section 2.1(B)(i) through (vi).
		

		
			 
		

		
			"Subsequent Closing Date" means any date on which Subsequent Assets are purchased after the Initial Closing Date.
		

		
			 
		

		
			
		

		
			

		 

		

			4

		

		

		
			 
		

		
			"Supplemental Interest Fee" has the meanng specified in Section 3.2 of this Agreement.
		

		
			 
		

		
			"Supplemental Interest Schedule" has the meaning provided to it in Section 3.2 of this Agreement.
		

		
			 
		

		
			"Supplemental Interest Receivables" means those Receivables which bear no interest rate .
		

		
			 
		

		
			"Tax" means any federal, state or local tax of the United States or of any state, including without limitation any income tax, franchise tax, real or personal property tax, employment tax, sales and use tax, value tax and any interest and penalties thereon including, without limitation, those levied on any failure to make appropriate withholdings and fines, penalties, other charges resulting from the failure to pay such amounts when due, but not including any tax that is levied on this transaction or chargeable on this Agreement or any documents or instruments required to be executed hereunder or pursuant hereto.
		

		
			 
		

		
			"UCC" means the Uniform Commercial Code.
		

		
			 
		

		
			"Verification Audit" means a post-Closing Date audit as described in Section 2.2(D).
		

		
			 
		

		
			"Verification Statement" means a statement by Purchaser of any perceived discrepancy or adjustment after a Verification Audit.
		

		
			 
		

		
			ARTICLE II. PURCHASE OF PORTFOLIO; ASSUMPTION OF LIABILITIES
		

		
			 
		

		
			2.1         Purchase of Portfolio; Closing.
		

		
			 
		

		
			(A)    Purchased Assets. On the Initial Closing Date and subject to all of the terms and conditions set forth herein, Seller shall sell, assign, transfer and convey to Purchaser, and Purchaser shall purchase and receive from Seller subject to the terms of this Agreement, all of Seller's right, title and interest in and to the following: (i) all Receivables in the Accounts as of the close of business on the business day immediately preceding the Initial Closing Date; (ii) all rights to payment of interest, charges and fees on such Receivables; (iii) all rights to any and all collateral (the "Collateral") which secures the Dealer's or any other Obligor's obligations to Seller pertaining to such Receivables; (iv) all of the rights of Seller provided by any Receivable Agreements (but only to the extent that the rights of Seller provided by any Receivable Agreements relate to Receivables), guaranties and promissory notes (in each case, to the extent they apply to such Receivables), (v) all security agreements, financing statements or other instruments which relate to the Collateral (but only to the extent that such security agreements, financing statements or other instruments relate to the Receivables being purchased by Purchaser on the Initial Closing Date); (vi) the Files and (vii) the Books and Records.
		

		
			 
		

		
			(B)   Subsequent Assets. To the extent that the parties wish to engage in sales of Future Receivables subsequent to the Initial Closing Date, then immediately upon the generation of any such Future Receivables, Seller may sell, assign, transfer and convey to Purchaser, and Purchaser may purchase and receive from Seller subject to the terms of this Agreement, all of Seller's right, title
		

		
			
		

		
			

		 

		

			5

		

		

		
			 
		

		
			and interest in and to the following: (i) all such Future Receivables; (ii) all rights to payment of interest, charges and fees on such Future Receivables; (iii) all rights to the Collateral which secures the Dealer's or any other Obligor's obligations to Seller pertaining to such Future Receivables; (iv) all of the rights of Seller provided by any Receivable Agreements (but only to the extent that the rights of Seller provided by any Receivable Agreements relate to such Future Receivables ), guaranties and promissory notes (in each case, to the extent they apply to such Receivables ); (v) all security agreements, financing statements or other instruments which relate to the Collateral (but only to the extent that such security agreements, financing statements or other instruments relate to the Future Receivables being purchased by Purchaser); (vi) the Files (as they relate to the Future Receivables) and the Books and Records (as they relate to the Future Receivables). Notwithstanding the provisions of this Section 2.1(B), the parties agree that the Seller shall be under no obligation to sell any Future Receivable to Purchaser and Purchaser shall be under no obligation to purchase any Future Receivable from Seller.
		

		
			 
		

		
			(C)   Retained Assets. All assets of Seller not specifically listed and sold in Sections 2.1(A) and 2.1(B) of this Agreement shall remain the property of Seller.
		

		
			 
		

		
			(D)   Credit Loss.  Upon the purchase of the Assets, the risk of credit loss on the Receivables shall become Purchaser's.
		

		
			 
		

		
			(E)   The Closing. The Closing (the "Closing") of the transactions described in Section 2.1(A) contemplated by this Agreement shall take place on 29 October 2001 and at Moline, Illinois, or such other mutually acceptable location, commencing at such time and on such date as Seller and Purchaser mutually may determine (the " Initial Closing Date"). The sales of all Future Receivables shall occur automatically in accordance with the provisions of Section 2.1(B) of this Agreement without the delivery of the documents described in Section 2.1(F)(i) and 2.1(F)(ii), but with the delivery of the Purchase Price described in Section 2.2.(A). The parties agree that the sale of assets subsequent to the Initial Closing Date may occur through mutually satisfactory accounting entries which may be entries only on the Purchaser’s books and records and/or by other activities related to the acceptance of such assets by Purchaser as agreed upon by the parties. On a periodic basis, the parties may deliver a schedule which will summarize, in a form reasonably satisfactory to both Seller and Purchaser, the sales of Future Receivables which shall have occurred since the date of the last summary.
		

		
			 
		

		
			(F)   Deliveries at the Closing. At the Closing, (i) Seller shall deliver to Purchaser the various certificates, instruments and documents referred to in Section 8.1 below, (ii) Purchaser shall deliver to Seller the various certificates, instruments and documents referred to in Section 8.2, and (iii) Purchaser shall deliver to Seller the consideration specified in Section 2.2(A) of this Agreement.
		

		
			 
		

		
			(G)   Intent of the Parties. It is the expressed intent of the parties hereto that the conveyance of the Assets by Seller be, and be construed as, an absolute sale of such Assets by Seller to Purchaser, and not a pledge by Seller to Purchaser to secure a debt or other obligations of Seller. However, in the event that, notwithstanding the aforementioned intent of the parties, such conveyance is held or deemed not to be an absolute sale or is held or deemed to
		

		
			
		

		
			

		 

		

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			be a pledge of security for a loan, then it is the express intent of the parties to this Agreement that this Agreement constitutes a "security agreement" under the UCC and applicable law, and Seller shall be deemed to have granted to Purchaser a first priority, continuing lien and security interest in all right, title and interest of Seller in, to and under the Assets sold pursuant to this Agreement, and all proceeds in respect thereof. Seller shall take such actions, as may be necessary to ensure that if this Agreement were deemed to create a security interest, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such for the term of this Agreement.
		

		
			 
		

		
			In connection with such sales, Seller agrees to record and file, at its own expense, a financing statement on form UCC-1 or any other applicable form (and continuation statements when applicable) naming Seller as " debtor" and Purchaser as " secured party" thereon with respect to the Receivables now existing and hereafter created for the sale of chattel paper, general intangibles or accounts (as defined in Sections 9-105 and 9-106 of the UCC as in effect in any relevant state) meeting the requirements of applicable law in such manner and in such jurisdictions as are necessary to perfect the sale and assignment of the Assets to Purchaser, and to deliver a file-stamped copy of such financing statements or other evidence of such filing to Purchaser on or prior to the Initial Closing Date, and (if any additional filing is necessary) the applicable Subsequent Closing Date provided that following the adoption of revised Article 9 of the UCC by any relevant State, such steps shall be taken to perfect each transfer and pledge as necessary to achieve perfection thereof under such revised Article 9. In addition, Seller shall cause to be timely filed in the appropriate filing office any continuation statement necessary to perfect any sale of Assets to Purchaser. Purchaser shall be under no obligation whatsoever to file such financing statement, or a continuation statement to such financing statement, or to make any other filing under the UCC in connection with such sales.
		

		
			 
		

		
			In connection with such sales and contributions, Seller further agrees, at its own expense, on or prior to the Initial Closing Date, or the applicable Subsequent Closing Date in the case of Subsequent Assets to deliver to Purchaser a computer file or microfiche or written list containing a true and complete list of all such Accounts sold. Such file or list, as supplemented from time to time to reflect Future Receivables, shall be marked as Exhibit 2.1(G) to this Agreement and is hereby incorporated into and made a part of this Agreement.
		

		
			 
		

		
			2.2        Purchase Price.
		

		
			 
		

		
			(A)   Purchase Price Calculation. Subject to the adjustment described in Section 2.2(E) of this Agreement, the Purchase Price for the Purchased Assets will be the principal balance of the Receivables as of the close of business on the business day immediately preceding the Initial Closing Date plus all accrued but unpaid interest, without premium or discount but net of all deferred taxes and net of all reserves established by Seller for uncollectible Purchased Assets, which reserve shall be reasonably acceptable to Purchaser as of the Initial Closing Date. Subject to the adjustment described in Section 2.2(E) of this Agreement, for all Subsequent Assets, the Purchase Price shall equal the unpaid principal balance of the Future Receivables as of the relevant Subsequent
		

		
			
		

		
			

		 

		

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			Closing Date plus all accrued but unpaid interest, without premium or discount.
		

		
			 
		

		
			(B)   Purchase Price Payment. Purchaser shall pay each Purchase Price or any other amounts payable under this Agreement by inter-company transaction system memos.
		

		
			 
		

		
			(C)   Closing Statement and Closing Electronic Record Reviews. Purchaser shall be afforded thirty (30) days after actual receipt of the Closing Electronic Record, Master Account List and Closing Statement in which to review the same for accuracy and give Seller written notice of any adjustment to the Closing Statement ("Adjustment Notice"). The Adjustment Notice shall set forth any adjustment items on the Closing Statement and will also reflect any proposed post-closing adjustments.
		

		
			 
		

		
			(D)   Right to Audit as to Purchase.
		

		
			 
		

		
			(1)   At any reasonable time, and from time to time during Seller's regular business hours, up to ninety (90) days following the Initial Closing Date, at Purchaser's option, Purchaser may directly or through its designated representatives conduct a Verification Audit for the purpose of verifying any or each amount and for compliance with this Agreement, as Purchaser deems appropriate, on any Closing Statement and to reconcile the amount to the appropriate Books and Records.
		

		
			 
		

		
			(2)   If Purchaser conducts a Verification Audit and the Verification Audit results in a dispute or discrepancy between any Closing Statement and the results of the Verification Audit, Purchaser will provide to Seller a Verification Statement which sets forth each amount on each Closing Statement where there is an adjustment, the amount of the adjustment, a general statement as to the basis for Purchaser's determination to the extent reasonably possible based on the data examined by Purchaser in the Verification Audit, and the amount of the Audited Closing Payment which Purchaser believes should replace the Audited Closing Payment provided by Seller. The parties will use reasonable and good faith efforts to resolve each adjustment within 30 days of the date of the Verification Statement. If the parties are unable to mutually agree in good faith as to the amount of the adjustment, no adjustment to the Purchase Price shall be made.
		

		
			 
		

		
			(3)   If Purchaser has any questions relating to the purchase of a Future Receivable, Purchaser may request that it be allowed to conduct a Verification Audit of such purchase. If the Purchaser conducts a Verification Audit and the Verification Audit results in a dispute or discrepancy between the amount paid by the Purchaser and the results of the Verification Audit, Purchaser and Seller shall follow the procedures provided in Sections 2.2(D)(2) and 2.2(E) of this Agreement to resolve the dispute or discrepancy.
		

		
			 
		

		
			(E)   Adjustment to Purchase Price Payment. If the final adjustments reflect that Seller owes Purchaser or Purchaser owes Seller a refund or payment, respectively, such payment shall be made, plus interest at the Federal Funds Rate from the Closing Date to and including the date of payment. For the purpose
		

		
			
		

		
			

		 

		

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			of calculating the Purchase Price only, if Purchaser fails to notify Seller of its adjustment with such items within the Purchaser's review period as described in Section 2.2(D) of this Agreement, the parties hereto will be deemed to have agreed to the amount set forth in the Closing Statement prepared by Seller.
		

		
			 
		

		
			2.3        Assumption of Liabilities.
		

		
			 
		

		
			(A)   Assumption of Liabilities. Purchaser shall not assume any liability, commitment, or obligation of Seller, whether absolute or contingent, known or unknown, of any nature, kind or description whatsoever, arising from or related to the Assets, including, without limitation, liabilities arising under or related to any contract, agreement or course of dealing between Seller and its lessors, vendors, servicers, consultants, suppliers, brokers or any other party or parties.
		

		
			 
		

		
			(B)   Pre-Closing Date Credit Balances; Administrative Costs. Seller agrees that it solely shall be responsible for any chargebacks, presentments, credit balances or incorrectly posted transactions with respect to Account transactions prior to the Closing Date, as appropriate. Seller further agrees that it will be responsible for all expenses related to the Receivables and activity thereon prior to the Closing Date, including, but not limited to, the processing and other fees of Seller.
		

		
			 
		

		
			(C)   Post-Closing Date Credit Balances and Administrative Costs. Purchaser agrees that subsequent to the Initial Closing Date it solely shall be responsible for any chargebacks, presentments, credit balances or incorrectly posted transactions with respect to Account transactions subsequent to the Initial Closing Date, as appropriate, including, but not limited to, the processing and other fees of Purchaser
		

		
			 
		

		
			(D)   Responsibility for Taxes. Seller shall pay any Tax, including any transfer tax, sales or use tax arising from the transfer of the Assets, provided however that this sentence shall not apply with respect to income taxes (including, without limitation, branch profit taxes, minimum taxes and taxes computed under alternative methods, at least one of which is based on net income) and franchise taxes that are based upon income or any other Tax upon or measured by income or gross receipts imposed on any party (any excluded Tax imposed on any party shall be the sole responsibility of the party upon whom the tax is imposed). Purchaser shall be liable for any Tax that relates to or arises from the ownership or use of the Assets with respect to periods on and after the relevant Closing Date for such Assets and Seller shall be liable for any Tax that relates to or arises from the ownership or use of the Assets with respect to periods prior to such Closing Date.
		

		
			 
		

		
			2.4        Post-Closing Adjustments. Following each Closing Date, Seller shall, with Purchaser's cooperation and assistance, determine and account to Purchaser for any items or transactions that affect any of the Receivables purchased on such Closing Date, but that were posted, un-posted or unaccounted for on or before such Closing Date, including without limitation, cash, letters in process relating to cash or other advances, access checks, payments in process, unidentified or unallocated items, or errors.
		

		
			 
		

		
			2.5        Additional Documentation. Seller further agrees that, if Purchaser
		

		
			
		

		
			

		 

		

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			reasonably requests Seller to execute and deliver additional assignments to transfer such interests or to take such other or further actions as reasonably necessary to achieve the purposes of this Agreement, Seller will take appropriate actions. Seller's initial designee for these purposes will be the person designated for notices under Section 10.2 hereof. If Purchaser requests such actions, Purchaser shall furnish Seller with copies of the proposed additional documentation. Costs, fees and expenses of preparing, executing and delivering such additional assignments shall be borne by the party incurring such cost, fee or expense. Such documents may include lost note affidavits.
		

		
			 
		

		
			2.6        True Sale. The parties intend the transactions described herein to be a true sale and an absolute and irrevocable (except as provided in Section 7.1(F) hereof) transfer, sale and assignment of the Assets from Seller to Purchaser for all purposes. 
		

		
			 
		

		
			ARTICLE III. POST-CLOSING ADMINISTRATION
		

		
			 
		

		
			3.1        Post-Closing Administration of Portfolio. Purchaser agrees that subsequent to the Closing or the purchase of a Future Receivable, it, or its designee, shall administer the Portfolio. 
		

		
			 
		

		
			3.2        Supplemental Interest Rate. The parties acknowledge that a portion of the Portfolio includes Supplemental Interest Receivables. Seller wishes Purchaser to continue to provide non-interest bearing financing to the Dealers under the Receivables Agreement. To compensate Purchaser for the Supplemental Interest Receivables, Seller shall pay Purchaser a supplemental interest fee (the "Supplemental Interest Fee") on a monthly basis, which fee is intended by the parties to approximate the normal, market rate of interest for like receivables and shall be computed on terms mutually agreeable to the parties. To calculate the amount of the Supplemental Interest Fee, Purchaser shall deliver to Seller on the __ day of each month, a schedule (the "Supplemental Interest Schedule"), which may be in electronic form, listing the total amount of Supplemental Interest Receivables and the total amount of interest, if any, payable on such Supplemental Interest Receivables. On the ___ day of each month, Seller shall pay Purchaser an amount equal to the Supplemental Interest Fee. Seller shall have the right to review, on a periodic basis, Purchaser's calculations of the amount of the Supplemental Interest Receivables and if there are disagreements as to the total amount of the Supplemental Interest Receivables or as to the appropriate calculation of the Supplemental Interest Fee, the parties agree to work together in good faith to resolve these differences and adjust, if necessary, the amount of the Supplemental Interest Fee.
		

		
			 
		

		
			ARTICLE IV. SELLER'S REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			Seller hereby represents and warrants to Purchaser that the statements made in this Section 4 are correct and complete as of the date of this Agreement and will be true, correct and complete on the Initial Closing Date and each Subsequent Closing Date (as though made then and as though the Initial Closing Date or Subsequent Closing Date, as the case may be, were substituted for the date of this Agreement throughout this Section 4).
		

		
			 
		

		
			4.1        Due Organization.  Seller is a Delaware corporation, duly organized, validly existing and in good standing, with its principal office located at One 
		

		
			
		

		
			

		 

		

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			John Deere Road, Moline, Illinois 61265.
		

		
			 
		

		
			4.2        Authorization and Binding Effect. Seller has full power and authority, corporate and otherwise, to enter into this Agreement. Execution, delivery and consummation of this Agreement by Seller have been duly authorized by all necessary corporate action and do not require any consent or approval of any person that has not been obtained. This Agreement constitutes the valid and binding obligation of Seller, enforceable against Seller in accordance with the terms and conditions hereof.
		

		
			 
		

		
			4.3        No Breach of Other Agreements. The execution, delivery, and performance of this Agreement will not violate, be in conflict with, or constitute a default under (a) Seller's Certificate of Incorporation, by-laws, or other documents of corporate self-governance; (b) any agreement, instrument or other obligation to which Seller is a party or by which Seller is bound; or (c) any Requirement of Law of any governmental authority whatsoever.
		

		
			 
		

		
			4.4        Books and Records Complete. With respect to each Obligor: (i) the Books and Records are true and complete in all material respects, and (ii) all material information relating to the credit, charges, fees, payment history, customer inquiries, information about the Obligor and regulatory correspondence which is known and available to Seller relating to such Obligor's Receivables is contained in the Books and Records.
		

		
			 
		

		
			4.5        No Consent. No consent of any Person and no consent, license, permit or approval or authorization or exemption by notice or report, or registration, filing or declaration with any governmental authority having jurisdiction over Seller is required (other than those previously obtained and delivered to Purchaser) in connection with the execution or delivery by Seller of this Agreement and the consummation of the series of transactions contemplated hereby, or the performance by Seller of its duties and obligations hereunder.
		

		
			 
		

		
			4.6        Claims; Litigation and Audits. There are no administrative or court actions, suits or proceedings of any kind now pending, or, to Seller's knowledge, threatened that, if adversely decided, would have a Material Adverse Effect. There are no outstanding judgments, orders or decisions of any arbitrator or governmental authority with jurisdiction over Seller which could adversely affect any of the Receivables. There were no audits, investigations, inspection or any other reviews or inquiries of any governmental authority or internal auditing group concerning Seller's administration of the Portfolio conducted during the current calendar year or the four (4) calendar years immediately preceding the date of this Agreement which revealed problems or issues with regard to the Receivables which would have a Material Adverse Effect.
		

		
			 
		

		
			4.7        Tax Returns and Liabilities. Seller has not, by conduct or omission, become subject to any federal, state, county, local or other tax liens, however the same may have arisen, that would attach to the Assets but, to the extent any such sum(s) arise, Seller agrees to promptly pay such sum(s).
		

		
			 
		

		
			4.8        Disclosure. No employee or representative of Seller or its agents intentionally made material untrue or misleading assertion in any statement provided by such Person in connection with the transactions contemplated hereby,
		

		
			
		

		
			

		 

		

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			and the Closing Electronic Records provided by Seller to Purchaser were and will be complete and accurate reflections of the Receivables as of the dates thereof.
		

		
			 
		

		
			4.9        Undisclosed Liability. Except for any credit balances on Receivables or Future Receivables and unfunded commitments to extend future credit to Dealers, Seller has no material obligations, commitments or any other liabilities, absolute or contingent, known or unknown, relating to the Assets or the Receivables which will affect the Assets after the Closing Date. No Account nor such Receivable is subject to any right of set-off, recission, counterclaim or defense arising out of any action or failure to act by Seller and to Seller's knowledge, no right of recission, set-off, counterclaim or defense due to an act or a failure to act of the Seller has been asserted with respect thereto.
		

		
			 
		

		
			ARTICLE V. ACCOUNT SPECIFIC REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			With respect to each Account and each Receivable, Seller hereby represents and warrants to Purchaser that the statements made in this Section 5 are correct and complete as of the Initial Closing Date with respect to the Receivables.
		

		
			 
		

		
			5.1        Enforceability; Ownership. Each Account represents the legal, valid and binding obligation of the Obligors thereunder and is enforceable against such Obligors in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, moratorium or other laws or regulations, in effect now or in the future, that affect the enforcement of creditors' rights generally. Seller has full legal title to the Accounts and has not assigned any right, title or interest in such Accounts to any other Person.
		

		
			 
		

		
			5.2        Documentation. Each Obligor's obligations to Seller in respect of such Receivable are subject to a Receivable Agreement and, if applicable, a guaranty between such Obligor and Seller which is enforceable in accordance with its terms and has not been amended or altered other than in accordance with Seller's Policies and Procedures. All such agreements are freely assignable by Seller to Purchaser in accordance with the terms of such agreements, without the approval or consent of any Obligor or other person to effectuate the valid assignment of the same in favor of Purchaser and are governed by and construed in accordance with the laws of the State of Illinois. Seller has provided Purchaser with copies of the forms of agreement used to document the Account and Receivable.
		

		
			 
		

		
			5.3        Set-off; Defenses.  No Account nor such Receivable is the subject of pending or, to the Knowledge of Seller, threatened litigation. Seller has administered all Accounts in all material respects in accordance with all Requirements of Law and Seller's Policies and Procedures.
		

		
			 
		

		
			5.4        Collateral. With respect to the Receivables purchased on the Initial Closing Date only, Seller has filed all financing statements in each appropriate office and has sent all notifications that are legally required to grant Seller a first priority perfected security interest in the Collateral, subject to any properly perfected purchase money security interests which may have priority over Seller's security interest in the Collateral, as provided by the relevant UCC in effect as of the date of this Agreement.
		

		
			 
		

		
			5.5        Lien. No Account nor Receivable is subject to any Lien, interest or
		

		
			
		

		
			

		 

		

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			right of any person other than Seller, or to any bankruptcy proceeding, or altered or reduced payment program.
		

		
			 
		

		
			5.6        Ordinary Course of Business. Seller has generated each Receivable and will generate each Future Receivable, in the ordinary course of its business pursuant to and substantially in accordance with Seller's Policies and Procedures.
		

		
			 
		

		
			5.7        Servicing of Receivables. All payments or monies received by Seller or its affiliated or third party contractors with respect to the payment of any Receivable or Future Receivable have been properly applied. Each Account has been maintained and serviced by Seller in accordance with Seller's Policies and Procedures as well as all Requirements of Law.
		

		
			 
		

		
			ARTICLE VI. PURCHASER'S REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			Purchaser represents and warrants to Seller on each Closing Date (as though made then and as though such Closing Date were substituted for the date of this Agreement throughout Section 6) as follows:
		

		
			 
		

		
			6.1        Due Organization.  Purchaser is a Nevada corporation, duly organized, validly existing and in good standing, with its registered office located at One East First Street, Reno, Nevada.
		

		
			 
		

		
			6.2        Authorization and Binding Effect. Purchaser has full power and authority, corporate and otherwise, to enter into this Agreement. Execution, delivery and consummation of this Agreement by Purchaser have been duly authorized by all necessary corporate action and do not require any consent or approval of any Person that has not been obtained. This Agreement constitutes the valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with the terms and conditions hereof.
		

		
			 
		

		
			6.3        No Breach of Other Agreements. The execution, delivery, and performance of this Agreement will not violate, be in conflict with, or constitute a default under (a) Purchaser's certificate of incorporation, by-laws, or other documents of corporate self-governance; (b) any agreement, instrument or other obligation to which Purchaser is a party or by which Purchaser is bound; or (c) any Requirement of Law of any governmental authority whatsoever.
		

		
			 
		

		
			6.4        No Consents. No consent of any Person and no consent, license, permit, or approval, or authorization, or exemption by notice, or report, or registration, filing, or declaration with, any governmental authority is required (other than those previously obtained and delivered to Seller) in connection with the execution or delivery by Purchaser of this Agreement and the consummation of the series of transactions contemplated hereby, or the performance by Purchaser of its duties and obligations hereunder.
		

		
			 
		

		
			6.5        Claims and Litigation. There are no administrative or court actions, suits or proceedings of any kind now pending, and, to Purchaser's knowledge, no such actions, suits or proceedings are threatened, that if adversely decided would have a Material Adverse Effect on Purchaser's ability to consummate the transaction set forth in this Agreement. There are no pending or outstanding administrative or court actions, suits or proceedings or, outstanding judgments,
		

		
			
		

		
			

		 

		

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			orders, or decisions of any arbitrator or governmental authority with jurisdiction over Purchaser which could adversely affect Purchaser's ability to consummate the transactions set forth in this Agreement.
		

		
			 
		

		
			ARTICLE VII. COVENANTS
		

		
			 
		

		
			7.1        Affirmative Covenants of Seller.
		

		
			 
		

		
			(A)   Purchaser Examination of Assets.  Upon reasonable advance notice, Seller shall give Purchaser and its representatives full access during Seller's normal business hours to examine the Assets; provided that Seller must approve the number of representatives and the work station locations so as not to disrupt or interfere with Seller's other businesses with such approval not to be unreasonably withheld.
		

		
			 
		

		
			(B)   Cooperation. Following the Closing, Seller agrees to provide timely assistance to Purchaser which shall include, without limitation, obtaining transaction records, the production of documents, and the interpretation of any relevant collection comments, to resolve any dispute or claim of any Dealer or other Obligor relating to all pre-Closing transactions.
		

		
			 
		

		
			(C)   Delivery of Files. Notwithstanding the sale of the Files to Purchaser, the parties agree that at Purchaser's direction, Seller may maintain physical possession of the Files.
		

		
			 
		

		
			(D)   Seller Advances on Receivables. Seller has generated Receivables only in accordance with Seller's Policies and Procedures.
		

		
			 
		

		
			(E)   Tax Reporting Obligations. Seller hereby agrees to perform all its obligations with respect to federal and/or state Tax reporting relating to or arising out of the Receivables, the Collateral and/or the Books and Records sold, transferred and assigned pursuant to this Agreement for the portion of the year 2001 that Seller owned the Receivables and for prior years. Purchaser shall file such reporting forms relating to the period of the year 2001 for which Purchaser owned the Receivables and thereafter while Purchaser continues to own such Receivables.
		

		
			 
		

		
			(F)   Remedies for Breach of Account Specific Representations and Warranties. All representations and warranties shall survive for five years from the relevant Closing Date, except for the representations and warranties described in Sections 4.1, 4.2, 6.1 and 6.2 that shall survive indefinitely. If any of the representations and warranties contained in Section 5 is not true and correct as of the date specified therein and Purchaser incurs a financial loss due to such breach of representation and warranty, Purchaser shall, within thirty days of such loss, notify Seller of the occurrence of such a loss. Within thirty (30) days of the receipt of such notice, Seller shall repurchase the Receivable or Future Receivable with respect to which there has been such a breach of representation and warranty and on which a loss has been incurred for an amount equal to the Repurchase Price. If the parties disagree regarding the existence of the breach of representation and warranty or the amount of the Repurchase Price, the parties agree to consult to determine in good faith whether there has been a breach of representation or warranty and the amount of the Repurchase Price. Upon the payment of the Repurchase Price, Seller shall
		

		
			
		

		
			

		 

		

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			prepare, with the cooperation and assistance of Purchaser, and Purchaser will execute and deliver appropriate transfer documentation to return a repurchased Account to Seller.
		

		
			 
		

		
			7.2        Mutual Covenants.
		

		
			 
		

		
			(A)   Efforts to Comply. Subject to the terms and conditions herein provided, each party shall cooperate fully with the other and shall use commercially reasonable best efforts to take all action necessary or appropriate hereunder and under any Requirements of Law to consummate the series of transactions contemplated by this Agreement. Each party further agrees to use its commercially reasonable best efforts for the consummation of the series of transactions contemplated by this Agreement.
		

		
			 
		

		
			(B)   No Material Omissions. Between the date hereof and Closing, each party shall promptly advise the other in writing of any fact which, if existing or known at the date hereof, would have been required to be set forth or disclosed in or pursuant to this Agreement or of any fact which, if existing or known at the date hereof, would have made any of such party's representations contained herein untrue.
		

		
			 
		

		
			ARTICLE VIII. CONDITIONS PRECEDENT TO CLOSING
		

		
			 
		

		
			8.1        Seller. On the Initial Closing Date (unless otherwise stated or unless otherwise waived by Purchaser), Seller shall deliver or cause to be delivered to Purchaser the following:
		

		
			 
		

		
			(A)   Written evidence of transfer to convey to Purchaser all of Seller's rights, title and interest in and good and marketable title to the Purchased Assets, free and clear of any and all Liens in the form attached hereto as Exhibit 8.1(A), to be delivered by Seller and approved by Purchaser on the Initial Closing Date;
		

		
			 
		

		
			(B)   A certificate, dated as of the Initial Closing Date, signed by the Secretary or an Assistant Secretary of Seller, certifying the incumbency of the officers or other representatives of Seller signing this Agreement on behalf of Seller and the related documents and instruments to be delivered in connection herewith to be delivered by Seller and approved by Purchaser;
		

		
			 
		

		
			(C)   Evidence, in form and substance satisfactory to Purchaser, that the execution of this Agreement by Seller and the performance of all of Seller's obligations hereunder have been duly authorized by the Seller;
		

		
			 
		

		
			(D)   The Closing Statement;
		

		
			 
		

		
			(E)   The Master Account List;
		

		
			 
		

		
			(F)   All written documents, instruments and manuals which describe Seller's Policies and Procedures; and
		

		
			 
		

		
			(G)   Such additional instruments, documents or certificates as may be reasonably requested by Purchaser and necessary for the consummation of the closing on the Initial Closing Date and the transactions contemplated hereby.
		

		
			 
		

		
			
		

		
			

		 

		

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			8.2        Purchaser. On each Closing Date (unless otherwise stated or unless otherwise waived by Seller), Purchaser shall deliver or cause to be delivered to Seller the following: 
		

		
			 
		

		
			(A)   The Purchase Price;
		

		
			 
		

		
			(B)   With respect to the Initial Closing Date, a certificate, dated as of the Closing Date, signed by the Secretary or an Assistant Secretary of Purchaser, certifying the incumbency of the officers or other representatives of Purchaser signing this Agreement on behalf of Purchaser and the related documents and instruments to be delivered in connection herewith, to be delivered by Purchaser and approved by Seller; and 
		

		
			 
		

		
			(C)   Evidence, in form and substance satisfactory to Seller, that the execution of this Agreement by Purchaser and the performance of all of Purchaser's obligations hereunder have been duly authorized by the Purchaser.
		

		
			 
		

		
			ARTICLE IX. INDEMNIFICATION
		

		
			 
		

		
			9.1        Seller's Indemnification of Purchaser. In addition to Seller's repurchase obligations described in Section 7.1(F), but subject to the duration of its representations and warranties provided in Section 7.1 (F), Seller shall indemnify, defend and hold Purchaser, its employees, officers, directors and agents harmless from Adverse Consequences arising out of:
		

		
			 
		

		
			(A)   The extension of credit to the Dealers and other Obligors made on or prior to the close of business on the Initial Closing Date other than in compliance with Requirements of Law (whether known or unknown, contingent or matured), as appropriate;
		

		
			 
		

		
			(B)   The maintenance of micrographic records by Seller and the cooperation of Seller with Purchaser for delivering documents for which no written or electronic image copies have been delivered to Purchaser;
		

		
			 
		

		
			(C)   Any material breach of any representations, warranties or covenants of Seller contained herein or in any document or instrument delivered by Seller; and
		

		
			 
		

		
			(D)   Seller's intentional misconduct or negligence relating to the performance of Seller's obligations hereunder.
		

		
			 
		

		
			9.2        Limitations on Amount of Seller's Indemnification of Purchaser. Except for the repurchase obligations described in Section 7.1(F) which shall not be subject to the limitations contained in this Section 9.2, Seller's total obligations pursuant to Section 9 of this Agreement shall not exceed the aggregate Purchase Price.
		

		
			 
		

		
			9.3        Purchaser's Indemnification of Seller. Notwithstanding any provision of Section 2.3 hereof and subject to the duration of its representations and warranties and the maximum indemnity provided in Section 9.4, Purchaser agrees to indemnify, defend and hold harmless Seller, its officers, directors, employees and agents from any Adverse Consequences, by reason of or resulting
		

		
			
		

		
			

		 

		

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			from or arising out of any material breach of any representation, warranty or covenant of Purchaser contained herein or in any document or instrument delivered by Purchaser hereunder or due to the ongoing administration of the Portfolio by Purchaser subsequent to the close of business on the Initial Closing Date other than in compliance with the Requirements of Law with respect to its Receivables (whether known or unknown, contingent or mature).
		

		
			 
		

		
			9.4        Limitation on Amount of Purchaser's Indemnification. Purchaser's total obligations pursuant to Section 9 of this Agreement shall not exceed the Purchase Price.
		

		
			 
		

		
			9.5        Manner of Handling Claims. If either party obtains knowledge of: (a) facts that would give rise to a right of indemnification for that party; or (b) commencement of an action that may require indemnification, the Indemnified Party shall give written notice to the Indemnifying Party as promptly as practicable after its receipt of that knowledge. Following receipt of such notice, the Indemnifying Party shall be entitled to participate in the defense of such claim, and, upon notice delivered promptly to the Indemnified Party, to assume the defense thereof, with counsel reasonably satisfactory to the Indemnified Party. Within a reasonable period following the assumption of such defense by the Indemnifying Party, the Indemnified Party shall be permitted to participate in the defense of such claim and may retain additional counsel of its choice at its own expense. The Indemnified Party shall not settle any claim or action the defense of which has been assumed by the Indemnifying Party without the consent of the Indemnifying Party. If, however, the defendants in such action include both parties and the Indemnified Party shall have concluded that there may be legal defenses available to it that are different from or additional to those available to the Indemnifying Party, the Indemnified Party shall be entitled to separate counsel, reasonably acceptable to the Indemnifying Party, which shall be paid for by the Indemnifying Party, provided such legal defenses are, in fact, rendered in favor of such party by the court or conceded by the plaintiff-third party. The parties hereto shall cooperate with one another in responding to and defending against any third party claims giving rise to indemnification rights hereunder.
		

		
			 
		

		
			9.6        Subrogation. The Indemnifying Party shall be subrogated to any claims or rights of the Indemnified Party as against any other persons with respect to any amounts paid by the Indemnifying Party under this Section. The Indemnified Party shall cooperate with the Indemnifying Party, at the Indemnifying Party's expense, in the Indemnifying Party's assertion of any such claim.
		

		
			 
		

		
			9.7        Survival. Any rights to indemnification with respect to any claim or controversy as to which the process described in Section 9.5 has been initiated by tender of formal notice, or any third party claim, delivered in writing prior to the expiration of the limitations periods set forth herein, shall survive until such claim or controversy is finally resolved.
		

		
			 
		

		
			9.8        Mitigation of Damages. Seller and Purchaser further mutually agree to exercise best efforts and prudent judgment to minimize and mitigate the exposure for loss, damage or claims against each other, as well as claims or disputes arising from third parties. Each shall inform the other as promptly as possible of any alleged claim, adjustment or dispute to afford as early a determination as possible of the merits, extent and potential monetary value or significance
		

		
			
		

		
			

		 

		

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			of the event or claim.
		

		
			 
		

		
			ARTICLE X. GENERAL PROVISIONS
		

		
			 
		

		
			10.1      Confidentiality. The parties shall keep confidential and cause their respective officers, directors, employees and agents to keep confidential, any and all information obtained from the other party concerning the assets, properties and business of the other party, and shall not use such information for any purpose other than those contemplated by this Agreement; provided, however, that neither party shall be subject to the obligations set forth in the preceding sentence with respect to any such information provided by the other party which either: (a) was in the receiving party's possession or in the public domain at the time of disclosure, or subsequently enters the public domain through no act or failure to act on the part of the receiving party; (b) is lawfully obtained by the receiving party from a third party; or (c) is required by law or regulatory authority. Public announcements regarding the series of transactions contemplated herein shall be made only with the prior consent of the parties hereto, which consent shall not be unreasonably withheld. This section shall survive the Initial Closing for a period of two (2) years following the Closing Date.
		

		
			 
		

		
			10.2      Notices. Except as otherwise expressly set forth herein, any notice, payment, demand or any other communication required or permitted to be given hereunder shall be in writing and delivered via overnight courier, facsimile or delivered by hand to the applicable party or parties at the address indicated below:
		

		
			 
		

		
			If to Seller:
		

		
			 
		

		
			DEERE & COMPANY
		

		
			One John Deere Place
		

		
			Moline, Illinois 61265
		

		
			Attention: Treasurer
		

		
			Telecopier: 309-749-0006
		

		
			 
		

		
			If to Purchaser:
		

		
			 
		

		
			DEERE CAPITAL, INC.
		

		
			One East First Street, Suite 600
		

		
			Reno, Nevada 89501
		

		
			Attention: Manager
		

		
			Telecopier: 775-786-4145
		

		
			 
		

		
			With a copy to:
		

		
			 
		

		
			DEERE CAPITAL, INC.
		

		
			c/o Deere Credit Services, Inc.
		

		
			6400 NW 86/th/ Street
		

		
			Johnston, Iowa 50131-6600
		

		
			Attention: Chief Counsel
		

		
			Telecopier: (515)267-4256
		

		
			 
		

		
			or as to each party at such other address as may be designated from time to time
		

		
			
		

		
			

		 

		

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			by such party or parties by like notice to the other parties, complying with this Section. All such notices, payments, demands or other communications shall be deemed validly given and legally effective when received.
		

		
			 
		

		
			10.3      Severability. If any term or condition of this Agreement should be held invalid by a court, arbitrator or tribunal of competent jurisdiction in any respect such invalidity shall not affect the validity of any other term or condition hereof. If any term or condition of this Agreement should be held to be unreasonable as to time, scope or otherwise by such a court, arbitrator or tribunal, it shall be construed by limiting or reducing it to a minimum extent so as to be enforceable under then applicable law. The parties hereto acknowledge that they would have executed this Agreement with any such invalid term or condition excluded or with any such unreasonable term or condition so limited or reduced.
		

		
			 
		

		
			10.4      Entire Agreement; Amendments. This Agreement and its exhibits and the agreements it incorporates by reference constitute the entire agreement of the parties with regard to the specific subject matter hereof and supersede all prior written and/or oral understandings between the parties. This Agreement may not be amended except pursuant to a writing signed by both parties.
		

		
			 
		

		
			10.5      Waiver. Any waiver by either party of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement. Any waiver must be in writing and signed by the party to be charged therewith.
		

		
			 
		

		
			10.6      Binding Effect. Neither party shall assign this Agreement without the prior written consent of the other and any attempted assignment without said consent shall be null, void and without any effect whatsoever; provided, however, that Purchaser may assign any or all of its rights hereunder (or delegate any or all of its obligations hereunder) to any affiliate or subsidiary of Purchaser, and Seller may assign any or all of its rights to any affiliate or subsidiary of Seller. In such latter event, Purchaser and Seller agree to give notice to the other of its assignment to its affiliate, subsidiary or parent.
		

		
			 
		

		
			10.7      Exhibits and Schedules. The exhibits attached hereto or referenced herein and each certificate, schedule, list, summary or other document provided or delivered pursuant to this Agreement or in connection with the transactions contemplated hereby are incorporated herein by this reference and made a part hereof.
		

		
			 
		

		
			10.8      No Third Party Beneficiaries. This Agreement is for the sole and exclusive benefit of the parties hereto. Nothing in this Agreement shall be construed to grant to any person other than the parties hereto, and their respective successors and permitted assigns, any right, remedy or claim under or in respect of this Agreement or any provision hereof
		

		
			 
		

		
			10.9      Further Assurances.  The parties hereto hereby agree to do such further acts and things, and to execute and deliver such additional conveyances, assignments, agreements and instruments, as either may at any time reasonably request in order to better assure and confirm unto each party their respective rights, powers and remedies conferred hereunder.
		

		
			 
		

		
			
		

		
			

		 

		

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			10.10      Counterparts. Provided that both parties hereto execute a copy of this Agreement, this Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
		

		
			 
		

		
			10.11      Headings. The headings contained herein are included solely for ease of reference and in no way shall limit, expand or otherwise affect either the substance or construction of the terms and conditions of this Agreement or the intent of the parties hereto.
		

		
			 
		

		
			10.12      Non-Merger/Survival. Each and every covenant, representation, warranty and obligation set forth herein made by Purchaser or Seller and any indemnity shall survive the execution and delivery of the documents at Closing, as provided in this Agreement, and this Agreement shall not merge into such documents, but instead shall be independently enforceable.
		

		
			 
		

		
			10.13      Expenses. All costs and expenses arising from the sale of the Assets and in connection with the series of transactions contemplated hereby, and all levies or other charges of any nature, kind or description imposed by any governmental authority, which in either case are not otherwise provided for pursuant to the terms and provisions of this Agreement, shall be borne by the party incurring such expense.
		

		
			 
		

		 

		

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