Document:

EX-4.4

 Exhibit 4.4 
  

 
 BARCLAYS PLC, 

Issuer, 
 THE BANK OF NEW YORK
MELLON, LONDON BRANCH, 
 as Trustee 

and 
 THE BANK OF NEW YORK MELLON
SA/NV, LUXEMBOURG BRANCH 
 as Senior Debt Security Registrar 
  

 
 TENTH SUPPLEMENTAL INDENTURE 

Dated as of March 10, 2021 
  

 
 To the Senior Debt Securities
Indenture, dated as of January 17, 2018, 
 Between Barclays PLC 

and 
 The Bank of New York Mellon,
London Branch, as Trustee 
  
  

$1,000,000,000 Principal Amount of 2.667% Fixed Rate Resetting Senior Callable Notes due 2032 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE I	  

		
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  			
			
	SECTION 1.01	  	 Definitions
	  	 	1	 
			
	SECTION 1.02	  	 Effect of Headings
	  	 	4	 
			
	SECTION 1.03	  	 Separability Clause
	  	 	4	 
			
	SECTION 1.04	  	 Benefits of Instrument
	  	 	4	 
			
	SECTION 1.05	  	 Relation to Base Indenture
	  	 	4	 
			
	SECTION 1.06	  	 Construction and Interpretation
	  	 	5	 
	
	ARTICLE II	  

	
	2.667% FIXED RATE RESETTING SENIOR CALLABLE NOTES DUE 2032	  

			
	SECTION 2.01	  	 Creation of Series; Establishment of Form
	  	 	5	 
			
	SECTION 2.02	  	 Interest
	  	 	6	 
			
	SECTION 2.03	  	 Payment of Principal, Interest and Other Amounts
	  	 	6	 
			
	SECTION 2.04	  	 Optional Redemption
	  	 	7	 
			
	SECTION 2.05	  	 Loss Absorption Disqualification Event Redemption
	  	 	9	 
		
	SECTION 2.06	  	 Trustee’s Duties
	  

			
	SECTION 2.07	  	 Notice of Redemption
	  	 	9	 
			
	SECTION 2.08	  	 Acknowledgement with respect to Treatment of EEA BRRD
	  			
		  	 Liabilities
	  	 	11	 
			
	SECTION 2.09	  	 Acknowledgement with Respect to Treatment of BRRD Liabilities
	  	 	11	 
	
	ARTICLE III	  

	
	MISCELLANEOUS PROVISIONS	  

			
	SECTION 3.01	  	 Effectiveness
	  	 	11	 
			
	SECTION 3.02	  	 Original Issue
	  	 	11	 
			
	SECTION 3.03	  	 Ratification and Integral Part
	  	 	11	 
			
	SECTION 3.04	  	 Priority
	  	 	11	 
			
	SECTION 3.05	  	 Not Responsible for Recitals or Issuance of Securities
	  	 	11	 
			
	SECTION 3.06	  	 Successors and Assigns
	  	 	11	 
			
	SECTION 3.07	  	 Counterparts
	  	 	11	 
			
	SECTION 3.08	  	 Governing Law
	  	 	12	 
		
	ANNEX I – Interest Terms of the Securities	  	 	I-1	 
		
	EXHIBIT A – Form of Global Note	  	 	A-1	 

  
 -i- 

 TENTH SUPPLEMENTAL INDENTURE, dated as of March 10, 2021 (the “Tenth
Supplemental Indenture”), among BARCLAYS PLC, a public limited company registered in England and Wales (herein called the “Company”), having its registered office at 1 Churchill Place, London E14 5HP, United Kingdom, THE
BANK OF NEW YORK MELLON, LONDON BRANCH, a New York banking corporation, as Trustee and Paying Agent (herein called the “Trustee”), having a Corporate Trust Office at One Canada Square, London E14 5AL, United Kingdom, and THE BANK OF
NEW YORK MELLON SA/NV, LUXEMBOURG BRANCH, as Senior Debt Security Registrar, having an office at 2-4 Rue Eugene Ruppert, Vertigo Building – Polaris, Luxembourg, 2453, Luxembourg, to the SENIOR DEBT
SECURITIES INDENTURE, dated as of January 17, 2018, between the Company and the Trustee (as heretofore amended and supplemented, the “Base Indenture” and, together with this Tenth Supplemental Indenture, the
“Indenture”). 
 RECITALS OF THE COMPANY 

WHEREAS, the Company and the Trustee are parties to the Base Indenture, which provides for the issuance by the Company from time to time of
its Senior Debt Securities in one or more series; 
 WHEREAS, Section 9.01 of the Base Indenture permits supplements thereto without
the consent of Holders of Senior Debt Securities to establish the form or terms of Senior Debt Securities of any series as permitted by Sections 2.01 and 3.01 of the Base Indenture; 

WHEREAS, as contemplated by Section 3.01 of the Base Indenture, the Company intends to issue an additional series of Senior Debt
Securities, to be known as the Company’s “2.667% Fixed Rate Resetting Senior Callable Notes due 2032” (the “Securities”) under the Indenture; and 

WHEREAS, the Company has taken all necessary corporate action to authorize the execution and delivery of this Tenth Supplemental Indenture;

 NOW, THEREFORE, THIS TENTH SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company, the Trustee and the Senior Debt Security Registrar mutually agree as follows with regard to the Securities: 

ARTICLE I 
 DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION 
 SECTION 1.01    Definitions. Except as otherwise
expressly provided or unless the context otherwise requires, all terms used in this Tenth Supplemental Indenture that are defined in the Base Indenture shall have the meanings ascribed to them in the Base Indenture. 

The following terms used in this Tenth Supplemental Indenture have the following respective meanings with respect to the Securities only: 

  
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 “Bail-in Legislation” has
the meaning set forth in Section 2.07 hereof. 
 “Base Indenture” has the meaning set forth in the first paragraph of
this Tenth Supplemental Indenture. 
 “BRRD” has the meaning set forth in Section 2.07 hereof. 

“BRRD Party” has the meaning set forth in Section 2.07 hereof. 

“Business Day” means any weekday, other than one on which banking institutions are authorized or obligated by law, regulation
or executive order to close in London, England or in the City of New York, United States. 
 “Capital Regulations” means,
at any time, the laws, regulations, requirements, standards, guidelines and policies relating to capital adequacy and/or minimum requirement for own funds and eligible liabilities and/or loss absorbing capacity for credit institutions of either
(i) the PRA and/or (ii) any other national or European authority, in each case then in effect in the United Kingdom (or in such other jurisdiction in which the Company may be organized or domiciled) and applicable to the Group including,
U.K. CRD. 
 “Company” has the meaning set forth in the first paragraph of this Tenth Supplemental Indenture, and includes
any successor entity. 
 “Determination Agent” has the meaning set forth in Section 2.04 hereof. 

“DTC” means The Depository Trust Company, or any successor clearing system. 

“EEA Bail-in Power” has the meaning set forth in Section 2.07 hereof.

 “EEA BRRD Liability” has the meaning set forth in Section 2.07 hereof. 

“Tenth Supplemental Indenture” has the meaning set forth in the first paragraph of this Tenth Supplemental Indenture. 

“EU Bail-in Legislation Schedule” has the meaning set forth in
Section 2.07 hereof. 
 “EU CRD” means: (i) Regulation (EU) No 575/2013 of the European Parliament and of the
Council of 26 June 2013 on prudential requirements for credit institutions and investments firms, as amended before IP completion day; and (ii) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on
access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, as amended before IP completion day. 

“Group” means the Company (or any successor entity) and its consolidated subsidiaries. 

“Indenture” has the meaning set forth in the first paragraph of this Tenth Supplemental Indenture. 

  
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 “Interest Payment Date” has the meaning set forth in Annex I hereto. 

“IP completion day” has the meaning given in the U.K. European Union (Withdrawal Agreement) Act 2020. 

“Issue Date” has the meaning set forth in Section 2.01(f) hereof. 

“Loss Absorption Disqualification Event” means the whole or any part of the principal amount of the Securities Outstanding at
any time being excluded from or ceasing to count towards the Company’s and/or the Group’s own funds and eligible liabilities and/or loss absorbing capacity, in each case for the purposes of, and in accordance with, the relevant Capital
Regulations, provided that a Loss Absorption Disqualification Event shall not occur if such whole or part of the principal amount of the Securities Outstanding is excluded from, or ceases to count towards, such own funds and eligible liabilities
and/or loss absorbing capacity due to the remaining maturity of the Securities being less than the period prescribed by the relevant Capital Regulations. 

“Loss Absorption Regulations Event” means that (i) any Capital Regulations become effective with respect to the Company
and/or the Group or (ii) there is an amendment to, or change in, any Capital Regulation, or any change in the official application of any Capital Regulation, which becomes effective with respect to the Company and/or the Group. 

“Make-Whole Redemption” has the meaning set forth in Section 2.04 hereof.

 “Optional Redemption Comparable Treasury Issue” has the meaning set forth in Section 2.04 hereof. 

“Optional Redemption Comparable Treasury Price” has the meaning set forth in Section 2.04 hereof. 

“Optional Redemption Reference Treasury Dealer” has the meaning set forth in Section 2.04 hereof. 

“Optional Redemption Reference Treasury Dealer Quotations” has the meaning set forth in Section 2.04 hereof. 

“Optional Redemption Treasury Rate” has the meaning set forth in Section 2.04 hereof. 

“Par Redemption” has the meaning set forth in Section 2.04 hereof. 

“Par Redemption Date” has the meaning set forth in Annex I hereto. 

“Regular Record Date” means the close of business on the Business Day immediately preceding each Interest Payment Date (or,
if the Securities are held in definitive form, the close of business on the 15th Business Day preceding each applicable Interest Payment Date). 

“Relevant EEA Resolution Authority” has the meaning set forth in Section 2.07 hereof. 

  
 3 

 “Securities” has the meaning set forth in the Recitals to this Tenth
Supplemental Indenture. 
 “Stated Maturity” has the meaning set forth in Section 2.01(g) hereof. 

“Trustee” has the meaning set forth in the first paragraph of this Tenth Supplemental Indenture, and includes any successor
entity. 
 “U.K. CRD” means the legislative package consisting of: 

(i) the U.K. CRD Regulation; 

(ii) the law of the United Kingdom or any part of it (as amended or replaced in accordance with domestic law from time to time), which
immediately before IP completion day implemented Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and
investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC and its implementing measures, such Directive as amended before IP completion day; and 

(iii) direct EU legislation (as defined in the Withdrawal Act), which immediately before IP completion day implemented EU CRD as it forms part
of domestic law of the United Kingdom by virtue of the Withdrawal Act and as the same may be amended or replaced in accordance with domestic law from time to time. 

“U.K. CRD Regulation” means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on
prudential requirements for credit institutions and investments firms, as amended before IP completion day, as it forms part of domestic law of the United Kingdom by virtue of the Withdrawal Act and as the same may be further amended or replaced in
accordance with domestic law from time to time. 
 “Withdrawal Act” means the United Kingdom European Union (Withdrawal)
Act 2018. 
 SECTION 1.02    Effect of Headings. The Article and Section headings herein are for
convenience only and shall not affect the construction hereof. 
 SECTION 1.03    Separability Clause. In
case any provision in this Tenth Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 1.04    Benefits of Instrument. Nothing in this Tenth Supplemental Indenture, express or implied,
shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under the Indenture. 

SECTION 1.05    Relation to Base Indenture. This Tenth Supplemental Indenture constitutes an integral part
of the Indenture. Notwithstanding any other provisions of this Tenth Supplemental Indenture, all provisions of this Tenth Supplemental Indenture are expressly and solely for the benefit of the Holders of the Securities and the Trustee and any such
provisions shall not be deemed to apply to any other Senior Debt Securities issued under the Base Indenture and shall not be deemed to amend, modify or supplement the Base Indenture for any purpose other than with respect to the Securities. 

  
 4 

 SECTION 1.06    Construction and Interpretation. Unless
the context otherwise requires: 
 (a)    the words “hereof,” “herein” and “hereunder” and
words of similar import, when used in this Tenth Supplemental Indenture, refer to this Tenth Supplemental Indenture as a whole and not to any particular provision of this Tenth Supplemental Indenture; 

(b)    the terms defined in the singular have a comparable meaning when used in the plural, and vice versa; 

(c)    the terms “U.S. dollars,” “US$” and “$” refer to the lawful currency for the time
being of the United States; 
 (d)    references herein to a specific Section, Article or Exhibit refer to Sections or
Articles of, or an Exhibit to, this Tenth Supplemental Indenture; 
 (e)    wherever the words “include,”
“includes” or “including” are used in this Tenth Supplemental Indenture, they shall be deemed to be followed by the words “without limitation;” 

(f)    references to a Person are also to its successors and permitted assigns; and 

(g)    the use of “or” is not intended to be exclusive unless expressly indicated otherwise. 

ARTICLE II 
 2.667%
FIXED RATE RESETTING SENIOR CALLABLE NOTES DUE 2032 
 SECTION 2.01    Creation of Series; Establishment
of Form. 
 (a)    There is hereby established an additional series of Senior Debt Securities under the Base
Indenture entitled the “2.667% Fixed Rate Resetting Senior Callable Notes due 2032.” 
 (b)    The
Securities shall be issued initially in the form of one or more registered Global Securities that shall be deposited with DTC on the Issue Date. The Global Securities shall be registered in the name of Cede & Co. and executed and issued in
substantially the form attached hereto as Exhibit A. 
 (c)    The Company shall issue the Securities in an
aggregate principal amount of $1,000,000,000. The Company may from time to time, without the consent of the Holders of the Securities, issue additional securities of such series having the same ranking and same interest rate, Stated Maturity,
redemption terms and other terms as the Securities described in this Tenth Supplemental Indenture, except for the price to the public and Issue Date. Any such additional securities subsequently issued shall rank equally and ratably with the
Securities in all respects, so that such further securities shall be consolidated and form a single series with the applicable series of the Securities. 

  
 5 

 (d)    Any proposed transfer of an interest in Securities held in the
form of a Global Security shall be effected through the book-entry system maintained by DTC. 

(e)    The Securities shall not have a sinking fund. 

(f)    The Securities shall be issued on March 10, 2021 (the “Issue Date”). 

(g)    The stated maturity of the principal of the Securities shall be March 10, 2032 (the “Stated
Maturity”). 
 (h)    The Securities shall be redeemable prior to their Stated Maturity in accordance with
Section 2.04 or Section 2.05 hereof. 
 (i)    The Securities shall be issued in minimum denominations of
$200,000 in principal amount and integral multiples of $1,000 in excess thereof. 
 (j)    Section 11.09 of the Base
Indenture shall apply to the Securities. 
 (k)    The Securities shall constitute the Company’s direct,
unconditional, unsecured and unsubordinated obligations and shall at all times rank pari passu without any preference among themselves. In the event of a winding-up or administration of the Company, the
Securities shall rank pari passu with all other outstanding unsecured and unsubordinated obligations of the Company, present and future, except such obligations as are preferred by operation of law. 

SECTION 2.02    Interest. 

(a)    The interest rate on the Securities shall be, or shall be determined, as set forth in Annex I hereto. 

(b)    The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided
in the Indenture, be paid to the Person in whose name the relevant Security (or any Predecessor Senior Debt Security) is registered at the close of business on the Regular Record Date for such interest. 

SECTION 2.03    Payment of Principal, Interest and Other Amounts. 

(a)    Payments of principal of and interest on the Securities shall be made in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts and such payments on Securities represented by a Global Security shall be made through one or more Paying Agents appointed under the Base Indenture to DTC
or its nominee, as the Holder or Holders of the Global Security. Initially, the Paying Agent for the Securities shall be The Bank of New York Mellon, London Branch, One Canada Square, London E14 5AL, United Kingdom and the Place of Payment in
respect of the Securities shall be the Corporate Trust Office of the Trustee, which as of the date hereof is hereby designated for purposes of the Securities initially as the office or agency of the Trustee located at said address. Initially, the
Senior Debt Security Registrar for the Securities shall be The Bank of New York Mellon SA/NV, Luxembourg Branch, 2-4 Rue Eugene Ruppert, Vertigo Building – Polaris, Luxembourg, 2453, Luxembourg (which

  
 6 

 
location shall also be a Place of Payment for purposes of Section 3.05(a) of the Base Indenture). The Company at any time and from time to time may change the Paying Agent or, subject to
Section 9.01 of the Base Indenture, the Place of Payment, and the Senior Debt Security Registrar without prior notice to the Holders of the Securities, and in such an event the Company may act as Paying Agent or Senior Debt Security Registrar.
Payments of principal of and interest on the Securities represented by a Global Security shall be made by wire transfer of immediately available funds; provided, however, that in the case of payments of principal, such Global Security
is first surrendered to the Paying Agent. If a date of redemption or repayment or the Stated Maturity is not a Business Day, the Company may pay interest and principal and/or any amount payable upon redemption or repayment of the Securities on the
next succeeding Business Day, but interest on that payment will not accrue during the period from and after the date of redemption or repayment or such Stated Maturity. 

SECTION 2.04    Optional Redemption. Subject to the notice period and provisions set forth in Sections 11.02
and 11.04 of the Base Indenture, and to the conditions set forth in Section 11.10 of the Base Indenture, the Company may redeem, at its option (A) the Securities at any time outstanding, in whole or in part, at any time on or after
September 10, 2021 (six months following the Issue Date and, if any additional Securities are issued after the Issue Date, except for the period of six months beginning on the issue date for any such additional Securities) to (but excluding)
the Par Redemption Date, at an amount equal to the higher of (i) 100% of the principal amount of the Securities to be redeemed and (ii) as determined by the Determination Agent, the sum of the present values of the principal (discounted from
the Par Redemption Date) and remaining payments of interest to be made on any scheduled Interest Payment Date to the Par Redemption Date for the Securities to be redeemed (not including accrued but unpaid interest, if any, on the principal amount of
the Securities) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Optional Redemption Treasury Rate plus 20 basis points together with, in either case of (i) or (ii) above, accrued but unpaid interest, if any, on the principal amount of the Securities to be redeemed to (but excluding) the
Redemption Date (the “Make-Whole Redemption”) and/or (B) the Securities then outstanding, in whole but not in part, on the Par Redemption Date, at an amount equal to 100% of their
principal amount together with accrued but unpaid interest, if any, on the principal amount of the Securities to be redeemed to (but excluding) the Redemption Date (the “Par Redemption”). 

“Optional Redemption Treasury Rate” means, with respect to the Redemption Date, the rate per annum equal to: (1) the
yield, under the heading which represents the average for the week immediately prior to the calculation date, appearing in the most recently published statistical release designated “H.15,” or any successor publication that is published by
the Board of Governors of the Federal Reserve System that establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity, under the caption “Treasury constant maturities,” for the maturity most closely
corresponding to the Par Redemption Date (if no maturity is within three months before or after the Par Redemption Date, yields for the two published maturities most closely corresponding to the Optional Redemption Comparable Treasury Issue shall be
determined and the Optional Redemption Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding to the nearest month); or (2) if such release (or any
successor release) is not published during the week immediately prior to the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the
Optional Redemption Comparable Treasury Issue, calculated using a price for the Optional Redemption 

  
 7 

 
Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Optional Redemption Comparable Treasury Price for such Redemption Date; provided that, if the period
from the Redemption Date to the Par Redemption Date is less than one year, the weekly average yield on actually traded U.S. Treasury securities adjusted to a constant maturity of one year will be used. 

The Optional Redemption Treasury Rate shall be calculated by the Determination Agent on the third Business Day preceding the Redemption Date.

 In determining the Optional Redemption Treasury Rate, the below terms will have the following meaning: 

“Optional Redemption Comparable Treasury Issue” means, with respect to the Redemption Date, the U.S. Treasury security
selected by the Determination Agent as having an actual or interpolated maturity comparable with the remaining term to the Par Redemption Date that would be utilized, at the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities denominated in U.S. dollars and of comparable maturity to the remaining term to the Par Redemption Date. 

“Optional Redemption Comparable Treasury Price” means, with respect to the Redemption Date, (i) the arithmetic average
of the Optional Redemption Reference Treasury Dealer Quotations for such Redemption Date (calculated on the third Business Day preceding such Redemption Date), after excluding the highest and lowest such Optional Redemption Reference Treasury Dealer
Quotations, or (ii) if fewer than five such Optional Redemption Reference Treasury Dealer Quotations are received, the arithmetic average of all such quotations, or (iii) if fewer than two such Optional Redemption Reference Treasury Dealer
Quotations are received, then such Optional Redemption Reference Treasury Dealer Quotation. 
 “Determination Agent” means
an investment bank or financial institution of international standing selected by the Company and which may be an affiliate of the Company. 

“Optional Redemption Reference Treasury Dealer” means, with respect to the Redemption Date, each of up to five banks selected
by the Company (following, where practicable, consultation with the Determination Agent, if applicable), or the affiliates of such banks, which are (i) primary U.S. government securities dealers, and their respective successors, or
(ii) market makers in pricing corporate bond issues. 
 “Optional Redemption Reference Treasury Dealer Quotations”
means, with respect to each Optional Redemption Reference Treasury Dealer and the Redemption Date, the arithmetic average, as determined by the Determination Agent, of the bid and offered prices (as quoted to the Determination Agent by such Optional
Redemption Reference Treasury Dealer) for the applicable Optional Redemption Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) at 11:00 a.m., New York time, on the third Business Day preceding such Redemption
Date. 
 Unless the Company defaults on payment of the Redemption Price, interest will cease to accrue on the Redemption Date on the
Securities or portions thereof called for redemption. The Trustee has no responsibility for any calculation or determination in respect of the establishment of the Make-Whole Redemption price and shall be
entitled to receive and rely conclusively upon an Officer’s Certificate executed in accordance with the Base Indenture that states the Make-Whole Redemption price. 

  
 8 

 SECTION 2.05    Loss Absorption Disqualification Event
Redemption. If a Loss Absorption Regulations Event occurs on or after the Issue Date that does, or would be likely to (in the opinion of the Company, the PRA or the Relevant U.K. Resolution Authority), result in a Loss Absorption
Disqualification Event with respect to the Securities, the Company may, at the Company’s option, at any time, redeem the Securities, in whole but not in part, at a Redemption Price equal to 100% of the principal amount of the Securities being
redeemed together with accrued but unpaid interest, if any, on the principal amount of the Securities to be redeemed to (but excluding) the Redemption Date. For the avoidance of doubt, except as otherwise set forth in this Tenth Supplemental
Indenture, Article 11 of the Base Indenture shall apply to any redemption of Securities pursuant to this Section 2.05. 
 SECTION
2.06    Notice of Redemption. 
 (a)    Before the Company may redeem the Securities
pursuant to Section 2.04 or Section 2.05 hereof or pursuant to Section 11.09 of the Base Indenture, the Company shall deliver via DTC or the relevant clearing system(s) (or, if the Securities are definitive Securities, to the Holders
at their addresses shown on the register for the Securities) prior notice of not less than fifteen (15) days, nor more than sixty (60) days, to the Holders of the Securities. The Company shall deliver written notice of such redemption of
the Securities to the Trustee at least five (5) Business Days prior to the date on which the relevant notice of redemption is sent to Holders (unless a shorter notice period shall be satisfactory to the Trustee). Such notice shall specify the
Company’s election to redeem the Securities and the date fixed for such redemption and shall be irrevocable except in the limited circumstances described in paragraphs (b) below. 

(b)    If the Company has delivered a notice of redemption pursuant to paragraph (a) of this Section 2.06, but
prior to the payment of the redemption amount with respect to such redemption the Relevant U.K. Resolution Authority exercises its U.K. Bail-in Power with respect to the Securities, such redemption notice
shall be automatically rescinded and shall be of no force and effect, and no payment in respect of the redemption amount shall be due and payable. 

(c)    If any event specified in paragraph (b) above occurs, the Company shall promptly deliver notice to the Holders
of the Securities via DTC or the relevant clearing system(s) (or, if the Securities are definitive Securities, to the Holders at their addresses shown on the shown on the register for the Securities) and to the Trustee directly, specifying the
occurrence of the relevant event. 
 SECTION 2.07    Acknowledgement with respect to Treatment of EEA BRRD
Liabilities. Notwithstanding and to the exclusion of any other term of the Indenture, this Tenth Supplemental Indenture or any other agreements, arrangements, or understanding between the BRRD Party, on the one hand, and the Company, on
the other hand, the Company acknowledges and accepts that an EEA BRRD Liability arising under the Indenture and this Tenth Supplemental Indenture may be subject to the exercise of EEA Bail-in Powers by the
Relevant EEA Resolution Authority, and acknowledges, accepts, and agrees to be bound by: 
 (a)    the effect of the
exercise of EEA Bail-in Powers by the Relevant EEA Resolution Authority in relation to any EEA BRRD Liability that (without limitation) may include and result in any of the following, or some combination
thereof: 
 (i)    the reduction of all, or a portion, of the EEA BRRD Liability or outstanding amounts
due thereon; 

  
 9 

 (ii)    the conversion of all, or a portion, of the EEA
BRRD Liability into shares, other securities or other obligations of the BRRD Party or another person, and the issue to or conferral on the Company of such shares, securities or obligations; 

(iii)    the cancellation of the EEA BRRD Liability; or 

(iv)    the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on
which any payments are due including by suspending payment for a temporary period. 
 (b)    the variation of the terms
of the Indenture or this Tenth Supplemental Indenture, as deemed necessary by the Relevant EEA Resolution Authority, to give effect to the exercise of EEA Bail-in Powers by the Relevant EEA Resolution
Authority in respect of the BRRD Party. 
 For these purposes: 

“Bail-in Legislation” means in relation to a member state of the European
Economic Area which has implemented, or which at any time implements, the BRRD, the relevant implementing law, regulation, rule or requirement as described in the EU Bail-in Legislation Schedule from time to
time. 
 “BRRD” means EU Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for
the recovery and resolution of credit institutions and investment firms of May 15, 2014, as amended or replaced from time to time (including as amended by Directive (EU) 2019/879 of the European Parliament and of the Council of May 20,
2019). 
 “BRRD Party” means The Bank of New York Mellon SA/NV, Luxembourg Branch, solely and exclusively in its role as
Senior Debt Security Registrar under the Indenture and this Tenth Supplemental Indenture. For the avoidance of doubt, The Bank of New York Mellon, London Branch, as Trustee and Paying Agent and in any other capacity under the Indenture or this Tenth
Supplemental Indenture is not a BRRD Party under the Indenture or this Tenth Supplemental Indenture. 
 “EEA Bail-in Power” means any Write-down and Conversion Powers as defined in the EU Bail-in Legislation Schedule, in relation to the
relevant Bail-in Legislation. 
 “EEA BRRD Liability” means a liability of the BRRD
Party to the Company under the Indenture or this Tenth Supplemental Indenture, if any, in respect of which the EEA Bail-in Power may be exercised. 

“EU Bail-in Legislation Schedule” means the document described as such, then
in effect, and published by the Loan Market Association (or any successor person) from time to time at http://www.lma.eu.com. 

  
 10 

 “Relevant EEA Resolution Authority” means the resolution authority with the
ability to exercise any EEA Bail-in Powers in relation to the BRRD Party. 
 SECTION
2.08    Acknowledgement with Respect to Treatment of BRRD Liabilities. Any references to the “Trustee” in Article 12.02 of the Base Indenture shall be deemed to refer to the Trustee and The Bank of New York
Mellon SA/NV, Luxembourg Branch. 
 ARTICLE III 

MISCELLANEOUS PROVISIONS 

SECTION 3.01    Effectiveness. This Tenth Supplemental Indenture shall become effective upon its execution
and delivery. 
 SECTION 3.02    Original Issue. The Securities may, upon execution of this Tenth
Supplemental Indenture, be executed by the Company and delivered by the Company to the Trustee for authentication, and the Trustee shall, upon a Company Order, authenticate and deliver such Securities as in such Company Order provided. 

SECTION 3.03    Ratification and Integral Part. The Base Indenture as supplemented by this Tenth
Supplemental Indenture, is in all respects ratified and confirmed, including without limitation all the rights, immunities and indemnities of the Trustee, and this Tenth Supplemental Indenture shall be deemed an integral part of the Base Indenture
in the manner and to the extent herein and therein provided. 
 SECTION 3.04    Priority. This Tenth
Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. The provisions of this Tenth Supplemental Indenture shall, with respect to the Securities and subject to the terms hereof,
supersede the provisions of the Base Indenture to the extent the Base Indenture is inconsistent herewith. 
 SECTION
3.05    Not Responsible for Recitals or Issuance of Securities. The recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, shall be taken as the statements of
the Company, and neither the Trustee nor any authenticating agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Tenth Supplemental Indenture or of the Securities,
except that the Trustee represents and warrants that it has duly authorized, executed and delivered this Tenth Supplemental Indenture. Neither the Trustee nor any authenticating agent shall be accountable for the use or application by the Company of
the Securities or the proceeds thereof. 
 SECTION 3.06    Successors and Assigns. All covenants and
agreements in the Base Indenture, as supplemented and amended by this Tenth Supplemental Indenture, by the Company shall bind its successors and assigns, whether so expressed or not. 

SECTION 3.07    Counterparts. This Tenth Supplemental Indenture may be executed manually, by facsimile or by
electronic signature in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

  
 11 

 SECTION 3.08    Governing Law. This Tenth Supplemental
Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of New York, except for the waiver of set-off provisions set forth in Section 5.01(h) of the Base
Indenture, which shall be governed by and construed in accordance with English law. 
 {Signature Page Follows} 

  
 12 

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

			
	BARCLAYS PLC
		
	By:	 	 /s/ Miray Muminoglu

	Name:	 	Miray Muminoglu
	Title:	 	Managing Director
	
	 THE BANK OF NEW
YORK MELLON, LONDON BRANCH, AS TRUSTEE AND PAYING AGENT

		
	By:	 	 /s/ Tom Vanson

	Name:	 	Tom Vanson
	Title:	 	Authorized Signatory
	
	THE BANK OF NEW YORK MELLON SA/NV, LUXEMBOURG BRANCH, AS SENIOR
DEBT SECURITY REGISTRAR
		
	By:	 	 /s/ Tom Vanson

	Name:	 	Tom Vanson
	Title:	 	Authorized Signatory

 [Signature Page to Tenth Supplemental Indenture] 

 ANNEX I 

Interest Terms of the Securities 

Interest Terms of the Securities 
  

			
	Interest Rate:	  	From (and including) the Issue Date to (but excluding) the Reset Date, the Securities will bear interest at a rate of 2.667% per annum (the “Initial Interest Rate”). From (and including) the Reset Date to (but
excluding) the Maturity Date (the “Reset Period”), the applicable per annum interest rate (the “Subsequent Interest Rate”) will be equal to the sum, as determined by the Calculation Agent, of the then-prevailing
U.S. Treasury Rate (such term subject to the provisions described below) on the Reset Determination Date, plus 1.200% (the “Margin”).
		
	Interest Payment Dates:	  	Semi-annually in arrear on March 10 and September 10 in each year, commencing on September 10, 2021 (each, an “Interest Payment Date”). If any scheduled Interest Payment Date would fall on a day that
is not a Business Day, the Company will pay interest on the next succeeding Business Day, but interest on that payment will not accrue during the period from and after the scheduled Interest Payment Date.
		
	Reset Date:	  	March 10, 2031 (the “Reset Date”).
		
	Reset Determination Date:	  	The second Business Day immediately preceding the Reset Date (the “Reset Determination Date”).
		
	Day Count:	  	30/360, Following, Unadjusted.
		
	Calculation Agent:	  	The Bank of New York Mellon, London Branch, or its successor appointed by the Company.
		
	Par Redemption Date:	  	March 10, 2031.
		
	Calculation of U.S. Treasury Rate:	  	The Calculation Agent will determine the Subsequent Interest Rate for the Securities by reference to the then-prevailing U.S. Treasury Rate, on the Reset Determination Date. Promptly upon such determination, the Calculation Agent
will notify the Company and the Trustee (if the Calculation Agent is not the Trustee) of the Subsequent Interest Rate. All determinations and any calculations made by the Calculation Agent for the purposes of calculating the Subsequent Interest Rate
(or component thereof) shall be conclusive and binding on the holders of the Securities, the Company and the Trustee, absent manifest error. The Calculation Agent shall not be responsible to the Company, holders of the Securities or any third party
for any failure of any Reference Treasury Dealer to provide quotations as requested of them or as a result of the Calculation

			
		  	 Agent having acted on any quotation or other information given by any Reference Treasury Dealer which subsequently may be found to be
incorrect or inaccurate in any way.
  
 “U.S. Treasury Rate” means,
with respect to the Reset Period, the rate per annum equal to: (1) the yield, under the heading which represents the average for the week immediately prior to the Reset Determination Date, appearing in the most recently published statistical
release designated “H.15,” or any successor publication that is published by the Board of Governors of the Federal Reserve System that establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity, under the
caption “Treasury constant maturities,” for the maturity of one year; or (2) if such release (or any successor release) is not published during the week immediately prior to the Reset Determination Date or does not contain such
yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for the Reset Determination Date.
  
 If the U.S. Treasury Rate cannot be
determined, for whatever reason, as described under (1) or (2) above, “U.S. Treasury Rate” means the rate in percentage per annum as notified by the Calculation Agent to the Company equal to the yield on U.S. Treasury
securities having a maturity of one year as set forth in the most recently published statistical release designated “H.15” under the caption “Treasury constant maturities” (or any successor publication that is published weekly by
the Board of Governors of the Federal Reserve System and that establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury constant maturities” for the maturity of one year) at
5:00 p.m. (New York City time) on the last available date preceding the Reset Determination Date on which such rate was set forth in such release (or any successor release).
  

“Comparable Treasury Issue” means, with respect to the Reset Period, the U.S. Treasury security or securities selected by the Company with a
maturity date on or about the last day of the Reset Period and that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities denominated in U.S. dollars and
having a maturity of one year.
  
 “Comparable Treasury Price” means,
with respect to the Reset Determination Date, (i) the arithmetic average of the Reference Treasury Dealer Quotations for the Reset Determination Date, after excluding the highest and lowest such Reference
Treasury

			
		  	 Dealer Quotations, (ii) if fewer than five such Reference Treasury Dealer Quotations are received, the arithmetic average of all such
quotations, or (iii) if fewer than two such Reference Treasury Dealer Quotations are received, then such Reference Treasury Dealer Quotation.
  

“Reference Treasury Dealer” means, with respect to the Reset Determination Date, each of up to five banks selected by the Company, or the
affiliates of such banks, which are (i) primary U.S. Treasury securities dealers, and their respective successors, or (ii) market makers in pricing corporate bond issues denominated in U.S dollars.

 
 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and the Reset Determination Date, the arithmetic average, as determined by the Calculation Agent, of the bid and offered prices (such prices being obtained by the Company and furnished to the Calculation Agent) for the
applicable Comparable Treasury Issue, expressed in each case as a percentage of its principal amount, at 11:00 a.m. (New York City time) on the Reset Determination Date.

 EXHIBIT A 

Form of Global Security 
 THIS SECURITY IS
A GLOBAL REGISTERED SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO
TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (OR ANY SUCCESSOR CLEARING SYSTEM)
(“DTC”), TO BARCLAYS PLC, OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 This Security is one of a duly authorized issue of securities of the Company (as
defined below) (herein called the “Securities” and each, a “Security”) issued and to be issued in one or more series under and governed by the Senior Debt Securities Indenture, dated as of January 17, 2018 (as
heretofore amended and supplemented, the “Base Indenture”), as amended and supplemented by the Tenth Supplemental Indenture, dated as of March 10, 2021 (the “Tenth Supplemental Indenture” and, together with the
Base Indenture, the “Indenture”). 
 Notwithstanding and to the exclusion of any other term of the Securities or any other agreements,
arrangements, or understandings between the Company and any Holder or Beneficial Owner of the Securities, by acquiring the Securities, each Holder and Beneficial Owner of the Securities acknowledges, accepts, agrees to be bound by, and consents to,
the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority (as those terms are defined in the Base Indenture) and the provisions set forth in Section 12.01 of the Base Indenture.

 In accordance with Article 13 of the Base Indenture, each Holder and Beneficial Owner of the Securities that acquires the Securities in the secondary
market shall be deemed to acknowledge, agree to be bound by, and consent to, the same provisions set forth in the Securities and the Indenture to the same extent as the Holders and Beneficial Owners of the Securities that acquire the Securities upon
their initial issuance, including, without limitation, with respect to the acknowledgement and agreement to be bound by, and consent to, the terms of the Securities, including in relation to the provisions contained in Section 5.01(h) and
Section 12.01 of the Base Indenture. 

 2.667% Fixed Rate Resetting Senior Callable Notes due 2032 

 

			
	No. 00[●]	  	$[●]

 CUSIP NO. 06738E BR5 

ISIN NO. US06738EBR53 
 COMMON CODE
NO. 231338055 
 BARCLAYS PLC, a company duly incorporated and existing under the laws of England and Wales (herein called the
“Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of US$[●]
([●]) on March 10, 2032 (the “Maturity Date”), except as otherwise provided herein, and to pay interest thereon, in accordance with the terms hereof. Interest shall accrue on this Security from March 10, 2021 or from
the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal hereof is paid or made available for payment. Interest shall be paid
semi-annually in arrear on March 10 and September 10 of each year (each, an “Interest Payment Date”). From (and including) March 10, 2021 to (but excluding) March 10, 2031
(the “Reset Date”), the Securities will bear interest at a rate of 2.667% per annum. From (and including) the Reset Date to (but excluding) the Maturity Date, the applicable per annum interest rate (the “Subsequent Interest
Rate”) will be equal to the sum, as determined by the Calculation Agent, of the then-prevailing U.S. Treasury Rate (such term subject to the provisions of Annex I to the Tenth Supplemental Indenture) on the second Business Day immediately
preceding the Reset Date, plus 1.200%. 
 Subject to the limitations specified on the reverse of this Security, interest on the
Securities shall be computed and payable in arrear and on the basis of a 360-day year of twelve 30-day months. 

The Calculation Agent, initially the Bank of New York Mellon, London Branch (the “Calculation Agent”), will determine the
Subsequent Interest Rate in any circumstance where the Calculation Agent is so required under the terms of the Securities and the Indenture, in accordance with the provisions set forth in Annex I to the Tenth Supplemental Indenture. 

All calculations made by the Calculation Agent for the purposes of calculating the interest rate on the Securities shall be conclusive and
binding on the Holders of the Securities, the Company and the Trustee, absent manifest error. 
 If any scheduled Interest Payment Date is
not a Business Day, the Interest Payment Date shall be postponed to the next succeeding Business Day (as defined below), but interest on that payment will not accrue during the period from and after the scheduled Interest Payment Date. If the
Maturity Date or date of redemption or repayment is not a Business Day, the payment of interest and principal and/or any amount payable upon redemption or repayment of the Securities will be made on the next succeeding Business Day, but interest on
that payment will not accrue during the period from and after such Maturity Date or date of redemption or repayment. If the Securities are redeemed, unless the Company defaults on payment of the Redemption Price, interest will cease to accrue on the
Redemption Date on the Securities called for redemption. A “Business Day” means any weekday, other than one on which banking institutions are authorized or obligated by law, regulation or executive order to close in London, England
or in the City of New York, United States. 

 The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date shall, as provided in the Indenture, be paid to the Person in whose name the relevant Security (or any Predecessor Senior Debt Security) is registered at the close of business on the Regular Record Date for such interest. 

No repayment of the principal amount of the Securities or payment of interest on the Securities shall become due and payable after the
exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority, unless such repayment or payment would be permitted to be made by the Company under the laws and regulations of the United Kingdom
and the European Union applicable to the Company. 
 Payments of principal of and interest, if any, on the Securities shall be made in such
coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts and such payments shall be made through one or more Paying Agents appointed under the Indenture to the Holder or
Holders of this Security. Initially, the Paying Agent for the Securities shall be The Bank of New York Mellon, London Branch, One Canada Square, London E14 5AL, United Kingdom and the Place of Payment in respect of the Securities shall be the
Corporate Trust Office of the Trustee, which as of the date hereof is hereby designated for purposes of the Securities initially as the office or agency of the Trustee located at said address. Initially, the Senior Debt Security Registrar for the
Securities shall be The Bank of New York Mellon SA/NV, Luxembourg Branch, 2-4 Rue Eugene Ruppert, Vertigo Building – Polaris, Luxembourg, 2453, Luxembourg (which location shall also be a Place of Payment
for purposes of Section 3.05(a) of the Base Indenture). The Company at any time and from time to time may change the Paying Agent or, subject to Section 9.01 of the Base Indenture, the Place of Payment, and the Senior Debt Security
Registrar without prior notice to the Holders of the Securities, and in such an event the Company may act as Paying Agent or Security Registrar. Payments of principal of and interest on the Securities shall be made by wire transfer of immediately
available funds; provided, however, that in the case of payments of principal, this Security is first surrendered to the Paying Agent. 

This Security shall be governed by and construed in accordance with the laws of the State of New York, except for the waiver of set-off provisions referenced herein and set forth in Section 5.01(h) of the Base Indenture which shall be governed by and construed in accordance with English law. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture, as defined herein. 
 THIS SECURITY IS NOT A DEPOSIT AND IS NOT COVERED BY THE U.K.
FINANCIAL SERVICES COMPENSATION SCHEME OR INSURED BY THE UNITED STATES FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY OF THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION. 

 Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof, directly or through an Authenticating Agent, by manual, facsimile or electronic signature of an authorized signatory, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

							
	Date: March 10, 2021	 		 	BARCLAYS PLC
				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	

 Trustee’s Certificate of Authentication 

This is one of the Securities of the series designated herein referred to in the Indenture. 

 

							
	Date: March 10, 2021	 		 	THE BANK OF NEW YORK MELLON, as Trustee
				
		 		 	By:	 	  

 {Signature Page to Global Security No. [●]} 

 (Reverse of Security) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities” and each, a
“Security”) issued and to be issued in one or more series under and governed by the Senior Debt Securities Indenture, dated as of January 17, 2018 (as heretofore amended and supplemented, the “Base Indenture”),
between the Company and The Bank of New York Mellon, London Branch, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture (as defined below)) as amended and supplemented by the Tenth
Supplemental Indenture, dated as of March 10, 2021 (the “Tenth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), and reference is hereby made to the Indenture, the terms of which
are incorporated herein by reference, for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, the Holders of the Securities and of the terms upon which the Securities are, and
are to be, authenticated and delivered. Insofar as the provisions of the Indenture may conflict with the provisions set forth in this Security, the Indenture shall control for purposes of this Security. All terms used in this Security that are
defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 
 This Security is one
of the series designated on the face hereof, limited to an aggregate principal amount of $1,000,000,000, which amount may be increased at the option of the Company if in the future it determines that it may wish to sell additional Securities of this
series. References herein to “this series” mean the series designated on the face hereof. 
 The provisions set forth in
Section 10.04 of the Base Indenture are applicable to this Security. In addition, the Company agrees, to the extent the Company has actual knowledge of such information, to provide the Paying Agent with sufficient information about any
modification to the terms of the Securities for the purposes of determining whether FATCA Withholding Tax applies to any payment of principal or interest on the Securities. 

The Company may redeem the Securities pursuant to Section 2.04 of the Tenth Supplemental Indenture. The Company may also redeem the
Securities pursuant to Section 11.09 of the Base Indenture and/or Section 2.05 of the Tenth Supplemental Indenture. Any redemption of Securities by the Company is subject to the notice period and provisions set forth in Sections 11.02 and
11.04 of the Base Indenture and in Section 2.06 of the Tenth Supplemental Indenture, and to the conditions set forth in Section 11.10 of the Base Indenture. 

The Company may repurchase the Securities pursuant to Section 11.12 of the Base Indenture. 

All authority conferred or agreed to be conferred by each Holder and Beneficial Owner pursuant to this Security, including the consents given
by such Holder and Beneficial Owner, shall be binding upon the successors, assigns, heirs, executors, administrators, trustees in bankruptcy and legal representatives of such Holder and Beneficial Owner. 

The Securities shall constitute the Company’s direct, unconditional, unsecured and unsubordinated obligations and shall rank as set forth
in Section 2.01(k) of the Tenth Supplemental Indenture. 

 The Securities are subject to the waiver of set-off
provisions set forth in Section 5.01(h) of the Base Indenture. 
 This Security is subject to the provisions regarding the U.K. Bail-in Power Acknowledgement set forth in Section 12.01 of the Base Indenture. 
 The Securities are
subject to provisions set forth in Article 5 of the Base Indenture. 
 If a Winding-Up Event occurs,
the outstanding principal amount of this Security, together with any accrued but unpaid interest thereon, shall become immediately due and payable, without the need of any further action on the part of the Trustee, the Holders or any other Person.

 If a Non-Payment Event occurs, the Trustee may, at its discretion, and without further notice to
the Company, institute proceedings in England (or such other jurisdiction in which the Company may be organized) (but not elsewhere) for the winding-up of the Company and/or prove in a winding-up of the Company and/or claim in a liquidation or administration of the Company. 
 The Indenture
permits the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities to be affected under the Indenture as contemplated by Article 9 of the Base Indenture. To the extent
required by the U.S. Trust Indenture Act of 1939, as amended, but otherwise notwithstanding any other provision in this Security, the Holder of this Security shall have the right to receive (subject to Section 3.07 of the Base Indenture)
payment of any principal of, and interest on, this Security when due (or, in the case of redemption, on or after the Redemption Date), and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the
consent of such Holder or holder. 
 This Security, and any other Securities of this series and of like tenor, are issuable only in
registered form without coupons in initial denominations of $200,000 and increments of $1,000 thereafter. The denominations cannot be changed without the consent of the Trustee. The provisions on registration, transfer and exchange of the Securities
set forth in Section 3.05 of the Base Indenture are applicable to the Securities. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

This Security shall be governed by and construed in accordance with the laws of the State of New York, except for the waiver of set-off provisions referenced herein and set forth in Section 5.01(h) of the Base Indenture, which shall be governed by and construed in accordance with English law.oncr-ex44_715.htm

 

Exhibit 4.4

 

DESCRIPTION OF ONCORUS, INC. COMMON STOCK

 

The following description of the common stock of Oncorus, Inc., or the Company, is a summary and does not purport to be complete. This summary is qualified in its entirety by reference to the provisions of the Delaware General Corporation Law, or the DGCL, and the complete text of the Company’s amended and restated certificate of incorporation, or the certificate of incorporation, and amended and restated bylaws, or the bylaws, which are incorporated by reference as Exhibits 3.1 and 3.2, respectively, to the Company’s Annual Report on Form 10-K to which this description is also an exhibit. The Company encourages you to read that law and those documents carefully.

 

General

 

The certificate of incorporation authorizes the issuance of up to 100,000,000 shares of common stock, $0.0001 par value per share, and 10,000,000 shares of preferred stock, $0.0001 par value per share, all of which shares of preferred stock are undesignated. The Company’s board of directors may establish the rights and preferences of the preferred stock from time to time.

 

Description of Common Stock

 

Voting Rights

 

Each holder of common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors. Under the certificate of incorporation and bylaws, common stockholders do not have cumulative voting rights. Because of this, the holders of a majority of the shares of common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they should so choose.

 

Dividends

 

Subject to preferences that may be applicable to any then-outstanding preferred stock, holders of common stock are entitled to receive ratably those dividends, if any, as may be declared from time to time by the board of directors out of legally available funds.

 

Liquidation

 

In the event of the Company’s liquidation, dissolution or winding up, holders of common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of the Company’s debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then-outstanding shares of preferred stock.

 

Rights and Preferences

 

Holders of common stock have no preemptive, conversion or subscription rights and there are no redemption or sinking fund provisions applicable to the common stock. The rights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that the Company may designate in the future.

 

Description of Preferred Stock

 

The Company’s board of directors may, without further action by stockholders, fix the rights, preferences, privileges and restrictions of up to an aggregate of 10,000,000 shares of preferred stock in one or more series and authorize their issuance. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, 

 

 

any or all of which may be greater than the rights of the common stock. The issuance of the Company’s preferred stock could adversely affect the voting power of holders of the common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change of control or other corporate action.  No shares of preferred stock are outstanding, and the Company has no present plan to issue any shares of preferred stock.

Warrants to Purchase Common Stock

There are outstanding warrants to purchase an aggregate of 71,544 shares of the common stock at a weighted average exercise price of $1.21 per share, held by nine holders. These warrants expire on March 31, 2031. These warrants contain provisions for the adjustment of the exercise price and the number of shares issuable upon the exercise of the applicable warrant in the event of certain stock dividends, stock splits, reorganizations, reclassifications and consolidations. The warrants also contain net exercise provisions pursuant to which the holder may, in lieu of paying the exercise price in cash, surrender the applicable warrant and receive a net amount of shares based on the fair market value of the common stock at the time of exercise after deducting the aggregate exercise price.

 

Registration Rights

 

Certain holders of common stock, including all of the Company’s former preferred stockholders prior to the Company’s initial public offering, are entitled to certain rights with respect to registration of their respective shares of common stock under the Securities Act of 1933, as amended, or the Securities Act, pursuant to the terms of an amended and restated investors’ rights agreement by and among the Company and certain of the Company’s stockholders. These shares are collectively referred to herein as registrable securities.

 

The amended and restated investor rights agreement by and among the Company and certain of its stockholders provides the holders of registrable securities with certain demand, piggyback and Form S-3 registration rights. Under the terms of the investor rights agreement, holders of registrable securities will have equivalent registration rights with respect to any additional shares of common stock acquired by these holders. The registration of shares of common stock pursuant to the exercise of these registration rights would enable the holders to trade these shares without restriction under the Securities Act when the applicable registration statement is declared effective. The registration rights under the amended and restated investors’ rights agreement will expire on the earliest to occur of (1) October 6, 2023 and (2) with respect to each stockholder, at such time as Rule 144 under the Securities Act or another similar exemption is available for the sale of all of such holder’s shares without limitation during a three-month period without registration. The Company will pay all expenses relating to any demand, piggyback or Form S-3 registration, other than underwriting discounts and commissions, subject to specified conditions and limitations. 

 

Anti-Takeover Provisions

 

Anti-Takeover Statute

 

The Company is subject to Section 203 of the DGCL, which generally prohibits a publicly held Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years after the date that such stockholder became an interested stockholder, with the following exceptions:

 

	
 
	
•
	
before such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

	
 
	
•
	
upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding, but not the outstanding voting stock owned by the interested stockholder, those shares owned (1) by persons who are directors and also officers and (2) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

	
 
	
•
	
on or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least 66-2/3% of the outstanding voting stock that is not owned by the interested stockholder.

 

 

 

In general, Section 203 defines a “business combination” to include the following:

 

	
 
	
•
	
any merger or consolidation involving the corporation and the interested stockholder;

	
 
	
•
	
any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;

	
 
	
•
	
subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;

	
 
	
•
	
any transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class or series of the corporation beneficially owned by the interested stockholder; or

	
 
	
•
	
the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits by or through the corporation.

 

In general, Section 203 defines an “interested stockholder” as an entity or person who, together with the person’s affiliates and associates, beneficially owns, or within three years prior to the time of determination of interested stockholder status did own, 15% or more of the outstanding voting stock of the corporation.

 

Anti-Takeover Effects of Certain Provisions of the Certificate of Incorporation and Bylaws

 

The certificate of incorporation provides for the Company’s board of directors to be divided into three classes with staggered three-year terms. Only one class of directors is elected at each annual meeting of stockholders, with the other classes continuing for the remainder of their respective three-year terms. Because the Company’s stockholders do not have cumulative voting rights, stockholders holding a majority of the voting power of the shares of common stock outstanding will be able to elect all of the Company’s directors. The directors may be removed by the stockholders only for cause upon the vote of holders of 66 2/3% of the shares then entitled to vote at an election of directors. Furthermore, the authorized number of directors may be changed only by resolution of the board of directors, and vacancies and newly created directorships on the board of directors may, except as otherwise required by law or determined by the board, only be filled by a majority vote of the directors then serving on the board, even though less than a quorum. The certificate of incorporation and bylaws provide that all stockholder actions must be effected at a duly called meeting of stockholders and not by a consent in writing. A special meeting of stockholders may be called only by a majority of the whole board of directors, the chair of the board of directors or the Company’s chief executive officer. The bylaws also provide that stockholders seeking to present proposals before a meeting of stockholders to nominate candidates for election as directors at a meeting of stockholders must provide timely advance notice in writing, and will specify requirements as to the form and content of a stockholder’s notice.

 

The certificate of incorporation further provides that the affirmative vote of holders of at least 66 2/3% of the voting power of all of the then outstanding shares of voting stock, voting as a single class, is required to amend certain provisions of the certificate of incorporation, including provisions relating to the structure of the board of directors, the size of the board, removal of directors, special meetings of stockholders, actions by written consent and cumulative voting. The affirmative vote of holders of at least 66 2/3% of the voting power of all of the then outstanding shares of voting stock, voting as a single class, is required to amend or repeal the bylaws, although the bylaws may be amended by a simple majority vote of the Company’s whole board of directors.

 

The foregoing provisions will make it more difficult for the Company’s existing stockholders to replace the board of directors as well as for another party to obtain control of the company by replacing the board of directors. Since the board of directors has the power to retain and discharge the Company’s officers, these provisions could also make it more difficult for existing stockholders or another party to effect a change in management. In addition, the authorization of undesignated preferred stock makes it possible for the board of directors to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to change the control of the company.

 

These provisions are intended to enhance the likelihood of continued stability in the composition of the board of directors and its policies and to discourage certain types of transactions that may involve an actual or threatened acquisition of the company. These provisions are also designed to reduce the Company’s vulnerability to an unsolicited acquisition proposal and to discourage certain tactics that may be used in proxy rights. However, such provisions could have the effect of discouraging others from making tender offers for the Company’s shares and may have the effect of deterring hostile takeovers or delaying 

 

 

changes in control of the company or management. As a consequence, these provisions also may inhibit fluctuations in the market price of the Company’s stock that could result from actual or rumored takeover attempts.

 

Choice of Forum

 

The certificate of incorporation provides that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for the following types of actions or proceedings under Delaware statutory or common law: (1) any derivative action or proceeding brought on the Company’s behalf; (2) any action or proceeding asserting a breach of fiduciary duty owed by any of the Company’s current or former directors, officers or employees to the Company or its stockholders; (3) any action or proceeding asserting a claim against the Company or any of its current or former directors, officers or other employees, arising out of or pursuant to the Delaware General Corporation Law, the certificate of incorporation or the bylaws; (4) any action or proceeding to interpret, apply, enforce or determine the validity of the certificate of incorporation or the bylaws; or (5) any action asserting a claim against the Company that is governed by the internal affairs doctrine, provided that, the exclusive forum provision will not apply to suits brought to enforce any liability or duty created by the Securities Act, the Securities Exchange Act of 1934, as amended, or any other claim for which the federal courts have exclusive jurisdiction   Nothing in the certificate of incorporation precludes stockholders that assert claims under the Securities Act from bringing such claims in state or federal court, subject to applicable law. The certificate of incorporation further provides that the federal district courts of the United States will be the exclusive forum for resolving any complaint asserting a cause of action under the Securities Act, unless the Company consents in writing to the selection of an alternative forum.

 

Transfer Agent and Registrar

 

The transfer agent and registrar for the Company’s common stock is Computershare Trust Company, N.A. The transfer agent’s address is 250 Royall Street, Canton, Massachusetts 02021.

 

Listing

 

The common stock is listed on the Nasdaq Global Market under the symbol “ONCR.”

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