Document:

Exhibit 10.5

 Exhibit 10.5 
 THE LAPORTE SAVINGS BANK 
 EMPLOYEE STOCK OWNERSHIP PLAN 
 (adopted effective January 1, 2007) 

 THE LAPORTE SAVINGS BANK 
 EMPLOYEE STOCK OWNERSHIP PLAN 
 This Employee Stock Ownership Plan, executed on
the ________ day of ______________, 2007, by The LaPorte Savings Bank, an Indiana chartered savings association (the “Bank”), 
 W I T N E S S E T H    T H A T 
 WHEREAS, the board of directors of the Bank has resolved to adopt an
employee stock ownership plan for eligible employees of the Bank and subsidiaries of the Bank, if any, in accordance with the terms and conditions presented set forth herein; 
 NOW, THEREFORE, the Bank hereby adopts the following Plan setting forth the terms and conditions pertaining to contributions by the Employer and the
payment of benefits to Participants and Beneficiaries. 
 IN WITNESS WHEREOF, the Bank has adopted this Plan and caused this instrument to be
executed by its duly authorized officers as of the above date. 
  

									
	ATTEST:	 		 	
				
	  	 		 	By:	 	  
	Secretary	 		 		 		 	Authorized Officer

 C O N T E N T S 
  

					
	 	  	 	  	Page
No.
	 Section 1.
	  	 Plan Identity
	  	1
	 1.1
	  	 Name
	  	1
	 1.2
	  	 Purpose
	  	1
	 1.3
	  	 Effective Date
	  	1
	 1.4
	  	 Fiscal Period
	  	1
	 1.5
	  	 Single Plan for All Employers
	  	1
	 1.6
	  	 Interpretation of Provisions
	  	1
	 Section 2.
	  	 Definitions
	  	1
	 Section 3.
	  	 Eligibility for Participation
	  	8
	 3.1
	  	 Initial Eligibility
	  	8
	 3.2
	  	 Definition of Eligibility Year
	  	9
	 3.3
	  	 Terminated Employees
	  	9
	 3.4
	  	 Certain Employees Ineligible
	  	9
	 3.5
	  	 Participation and Reparticipation
	  	9
	 3.6
	  	 Omission of Eligible Employee
	  	9
	 3.7
	  	 Inclusion of Ineligible Employee
	  	9
	 Section 4.
	  	 Contributions and Credits
	  	10
	 4.1
	  	 Discretionary Contributions
	  	10
	 4.2
	  	 Contributions for Stock Obligations
	  	10
	 4.3
	  	 Conditions as to Contributions
	  	10
	 4.4
	  	 Rollover Contributions
	  	11
	 Section 5.
	  	 Limitations on Contributions and Allocations
	  	12
	 5.1
	  	 Limitation on Annual Additions
	  	12
	 5.2
	  	 Effect of Limitations
	  	13
	 5.3
	  	 Limitations as to Certain Participants
	  	13
	 5.4
	  	 Erroneous Allocations
	  	13
	 Section 6.
	  	 Trust Fund and Its Investment
	  	13
	 6.1
	  	 Creation of Trust Fund
	  	13
	 6.2
	  	 Stock Fund and Investment Fund
	  	14
	 6.3
	  	 Acquisition of Stock
	  	14
	 6.4
	  	 Participants’ Option to Diversify
	  	15
	 Section 7.
	  	 Voting Rights and Dividends on Stock
	  	15
	 7.1
	  	 Voting and Tendering of Stock
	  	15
	 7.2
	  	 Application of Dividends
	  	16
	 Section 8.
	  	 Adjustments to Accounts
	  	17
	 8.1
	  	 ESOP Allocations
	  	17
	 8.2
	  	 Charges to Accounts
	  	18
	 8.3
	  	 Stock Fund Account
	  	18
	 8.4
	  	 Investment Fund Account
	  	18
	 8.5
	  	 Adjustment to Value of Trust Fund
	  	18
	 8.6
	  	 Participant Statements
	  	19
	 Section 9.
	  	 Vesting of Participants’ Interests
	  	19
	 9.1
	  	 Deferred Vesting in Accounts
	  	19
	 9.2
	  	 Computation of Vesting Years
	  	19
	 9.3
	  	 Full Vesting Upon Certain Events
	  	20

					
	 9.4
	  	 Full Vesting Upon Plan Termination
	  	21
	 9.5
	  	 Forfeiture, Repayment, and Restoral
	  	21
	 9.6
	  	 Accounting for Forfeitures
	  	21
	 9.7
	  	 Vesting and Nonforfeitability
	  	21
	 Section 10.
	  	 Payment of Benefits
	  	22
	 10.1
	  	 Benefits for Participants
	  	22
	 10.2
	  	 Time for Distribution
	  	22
	 10.3
	  	 Marital Status
	  	23
	 10.4
	  	 Delay in Benefit Determination
	  	23
	 10.5
	  	 Accounting for Benefit Payments
	  	23
	 10.6
	  	 Options to Receive and Sell Stock
	  	23
	 10.7
	  	 Restrictions on Disposition of Stock
	  	24
	 10.8
	  	 Continuing Loan Provisions; Creations of Protections and Rights
	  	24
	 10.9
	  	 Direct Rollover of Eligible Distribution
	  	25
	 10.10
	  	 Waiver of 30-Day Period After Notice of Distribution
	  	25
	 Section 11.
	  	 Rules Governing Benefit Claims and Review of Appeals
	  	26
	 11.1
	  	 Claim for Benefits
	  	26
	 11.2
	  	 Notification by Committee
	  	26
	 11.3
	  	 Claims Review Procedure
	  	26
	 Section 12.
	  	 The Committee and its Functions
	  	26
	 12.1
	  	 Authority of Committee
	  	26
	 12.2
	  	 Identity of Committee
	  	27
	 12.3
	  	 Duties of Committee
	  	27
	 12.4
	  	 Valuation of Stock
	  	27
	 12.5
	  	 Compliance with ERISA
	  	27
	 12.6
	  	 Action by Committee
	  	27
	 12.7
	  	 Execution of Documents
	  	27
	 12.8
	  	 Adoption of Rules
	  	27
	 12.9
	  	 Responsibilities to Participants
	  	27
	 12.10
	  	 Alternative Payees in Event of Incapacity
	  	28
	 12.11
	  	 Indemnification by Employers
	  	28
	 12.12
	  	 Nonparticipation by Interested Member
	  	28
	 Section 13.
	  	 Adoption, Amendment, or Termination of the Plan
	  	28
	 13.1
	  	 Adoption of Plan by Other Employers
	  	28
	 13.2
	  	 Plan Adoption Subject to Qualification
	  	28
	 13.3
	  	 Right to Amend or Terminate
	  	29
	 Section 14.
	  	 Miscellaneous Provisions
	  	29
	 14.1
	  	 Plan Creates No Employment Rights
	  	29
	 14.2
	  	 Nonassignability of Benefits
	  	29
	 14.3
	  	 Limit of Employer Liability
	  	29
	 14.4
	  	 Treatment of Expenses
	  	29
	 14.5
	  	 Number and Gender
	  	30
	 14.6
	  	 Nondiversion of Assets
	  	30
	 14.7
	  	 Separability of Provisions
	  	30
	 14.8
	  	 Service of Process
	  	30
	 14.9
	  	 Governing State Law
	  	30
	 14.10
	  	 Employer Contributions Conditioned on Deductibility
	  	30
	 14.11
	  	 Unclaimed Accounts
	  	30
	 14.12
	  	 Qualified Domestic Relations Order
	  	30

  

 (ii) 

					
	 Section 15.
	  	 Top-Heavy Provisions
	  	31
	 15.1
	  	 Top-Heavy Plan
	  	31
	 15.2
	  	 Super Top-Heavy Plan
	  	31
	 15.3
	  	 Definitions
	  	32
	 15.4
	  	 Top-Heavy Rules of Application
	  	33
	 15.5
	  	 Minimum Contributions
	  	34
	 15.6
	  	 Top-Heavy Provisions Control in Top-Heavy Plan
	  	34

  

 (iii) 

 THE LAPORTE SAVINGS BANK 
 EMPLOYEE STOCK OWNERSHIP PLAN 
 Section 1. Plan Identity. 
 1.1 Name. The name of this Plan is “The LaPorte Savings Bank Employee Stock Ownership Plan.” 
 1.2 Purpose. The purpose of this Plan is to describe the terms and conditions under which contributions made pursuant to the Plan will be
credited and paid to the Participants and their Beneficiaries. 
 1.3 Effective Date. The Effective Date of this Plan is
January 1, 2007. 
 1.4 Fiscal Period. This Plan shall be operated on the basis of a January 1 to December 31
fiscal year for the purpose of keeping the Plan’s books and records and distributing or filing any reports or returns required by law. 
 1.5 Single Plan for All Employers. This Plan shall be treated as a single plan with respect to all participating Employers for the purpose of crediting contributions and forfeitures and distributing benefits, determining
whether there has been any termination of Service, and applying the limitations set forth in Section 5. 
 1.6 Interpretation of
Provisions. The Employers intend this Plan and the Trust Agreement to be a qualified stock bonus plan under Section 401(a) of the Code and an employee stock ownership plan within the meaning of Section 407(d)(6) of ERISA and
Section 4975(e)(7) of the Code. The Plan is intended to have its assets invested primarily in qualifying employer securities of one or more Employers within the meaning of Section 407(d)(3) of ERISA, and to satisfy any requirement under
ERISA or the Code applicable to such a plan. 
 Accordingly, the Plan and Trust Agreement shall be interpreted and applied in a manner
consistent with this intent and shall be administered at all times and in all respects in a nondiscriminatory manner. 
 Section 2.
Definitions. 
 The following capitalized words and phrases shall have the meanings specified when used in this Plan and in the
Trust Agreement, unless the context clearly indicates otherwise: 
 “Account” means a Participant’s interest in the
assets accumulated under this Plan as expressed in terms of a separate account balance which is periodically adjusted to reflect his Employer’s contributions, the Plan’s investment experience, and distributions and forfeitures. 

“Active Participant” means a Participant who has satisfied the eligibility requirements under Section 3 and who has at least
1,000 Hours of Service during the current Plan Year. However, a Participant shall not qualify as an Active Participant unless (i) he is in active Service with an Employer as of the last day of the Plan Year, or (ii) he is on a Recognized
Absence as of that date, or (iii) his Service terminated during the Plan Year by reason of Disability, death or Normal Retirement. In the Plan Year in which a Participant terminates due to death, Disability or Normal Retirement, the Participant
will be deemed to be an Active Participant without regard to whether or not such person has completed 1,000 Hours of Service during such Plan Year. 
 “Bank” means The LaPorte Savings Bank and any entity which succeeds to the business of The LaPorte Savings Bank and adopts this Plan as its own pursuant to Section 13.1 of the Plan. 

 “Beneficiary” means the person or persons who are designated by a Participant to receive
benefits payable under the Plan on the Participant’s death. In the absence of any designation or if all the designated Beneficiaries shall die before the Participant dies or shall die before all benefits have been paid, the Participant’s
Beneficiary shall be his surviving Spouse, if any, or his estate if he is not survived by a Spouse. The Committee may rely upon the advice of the Participant’s executor or administrator as to the identity of the Participant’s Spouse.

 “Break in Service” means any Plan Year, or, for the initial eligibility computation period under Section 3.2, the
12-consecutive month period beginning on the first day of which an Employee has an Hour of Service, in which an Employee has 500 or fewer Hours of Service. Solely for this purpose, an Employee shall be considered employed for his normal hours of
paid employment during a Recognized Absence (said Employee shall not be credited with more than 501 Hours of Service to avoid a Break in Service), unless he does not resume his Service at the end of the Recognized Absence. Further, if an Employee is
absent for any period (i) by reason of the Employee’s pregnancy, (ii) by reason of the birth of the Employee’s child, (iii) by reason of the placement of a child with the Employee in connection with the Employee’s
adoption of the child, or (iv) for purposes of caring for such child for a period beginning immediately after such birth or placement, the Employee shall be credited with the Hours of Service which would normally have been credited but for such
absence, up to a maximum of 501 Hours of Service. 
 “Closing Date” means the closing date of the stock offering of the
Company. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Committee” means the committee responsible for the administration of this Plan in accordance with Section 12. 
 “Company” means LaPorte Bancorp, Inc., the holding company of the Bank, and any successor entity which succeeds to the business of the
Company. 
 “Disability” means the inability to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. An individual shall not be considered to be permanently and
totally disabled unless he furnishes proof of the existence thereof in such form and manner, and at such times, as the Committee may require. 
 “Effective Date” means January 1, 2007. 
 “Eligible Employee” means an Employee, other than
an Employee identified in Section 3.4, who has both (i) satisfied the age requirement of Section 3.1(ii) and (ii) has performed 1,000 Hours of Service in the applicable Eligibility Year in accordance with Section 3.2.

 “Employee” means any individual who is or has been employed or self-employed by an Employer. “Employee” also
means an individual employed by a leasing organization who, pursuant to an agreement between an Employer and the leasing organization, has performed services for the Employer and any related persons (within the meaning of Section 414(n)(6) of
the Code) on a substantially full-time basis for more than one year, if such services are performed under the primary direction or control of the Employer. However, such a “leased employee” shall not be considered an Employee if
(i) he participates in a money purchase pension plan sponsored by the leasing organization which provides for immediate participation, immediate full vesting, and an annual 

  

 -2- 

 
contribution of at least 10 percent of the Employee’s 415 Compensation, and (ii) leased employees do not constitute more than 20 percent of the
Employer’s total work force (including leased employees, but excluding Highly Paid Employees and any other Employees who have not performed services for the Employer on a substantially full-time basis for at least one year). 
 “Employer” means the Bank or any affiliate within the purview of section 414(b), (c) or (m) and 415(h) of the Code, any other
corporation, partnership, or proprietorship which adopts this Plan with the Bank’s consent pursuant to Section 13.1, and any entity which succeeds to the business of any Employer and adopts the Plan pursuant to Section 13.2.

 “Entry Date” means the Closing Date and each January 1, April 1, July 1, and October 1 of
each Plan Year after the Effective Date. 
 “ERISA” means the Employee Retirement Income Security Act of 1974 (P.L. 93-406,
as amended). 
 “415 Compensation” 
 (a) shall mean wages within the meaning of Code Section 3401(a) and all other payments of compensation to an Employee by the Employer (in
the course of the Employer’s trade or business) for which the Employer is required to furnish the Employee a written statement under Code Sections 6041(d), 6051(a)(3), and 6052. Compensation must be determined without regard to any rules under
Code Section 3401(a) that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in Code Section 3401(a)(2)). 415 Compensation
shall be calculated on the basis of the Plan Year. 
 (b) For years beginning after December 31, 1997, Compensation shall
include elective contributions. For this purpose, elective contributions are elective deferrals (as defined in Code Section 402(g)(3)) and amounts contributed or deferred by the Employer at the election of the Employee which are not includible
in the gross income of the Employee by reason of Code Section 125, 132(f)(4), or 457. 
 (c) 415 Compensation in excess
of $225,000 (as indexed) shall be disregarded for all Participants. For purposes of this sub-section, the $225,000 limit shall be referred to as the “applicable limit” for the Plan Year in question. The $225,000 limit shall be adjusted for
increases in the cost of living in accordance with Section 401(a)(17)(B) of the Code, effective for the Plan Year which begins within the applicable calendar year. For purposes of the applicable limit, 415 Compensation shall be prorated over
short Plan Years. 
 “Highly Paid Employee” for any Plan Year means an Employee who, during either that or the immediately
preceding Plan Year was at any time a five percent owner of the Employer (as defined in Code Section 416(i)(1)) or, during the immediately preceding Plan Year, had 415 Compensation exceeding $100,000 and was among the most highly compensated
one-fifth of all Employees (the $100,000 amount is adjusted at the same time and in the same manner as under Code Section 415(d)). For these purposes, “the most highly compensated one-fifth of all Employees” shall be determined by
taking into account all individuals working for all related Employer entities described in the definition of “Service,” but excluding any individual who has not completed six months of Service, who normally works fewer than 17-1/2 hours
per week or in fewer than six months per year, who has not reached age 21, whose employment is covered by a collective bargaining agreement, or who is a nonresident alien who receives no earned income from United States sources. The applicable year
for which a determination is being made is called a “determination year” and the preceding 12-month period is called a look-back year. 
  

 -3- 

 “Hours of Service” means hours to be credited to an Employee under the following rules:

 (a) Each hour for which an Employee is paid or is entitled to be paid for services to an Employer is an Hour of Service.

 (b) Each hour for which an Employee is directly or indirectly paid or is entitled to be paid for a period of vacation,
holidays, illness, disability, lay-off, jury duty, temporary military duty, or leave of absence is an Hour of Service. However, except as otherwise specifically provided, no more than 501 Hours of Service shall be credited for any single continuous
period which an Employee performs no duties. No more than 501 Hours of Service will be credited under this paragraph for any single continuous period (whether or not such period occurs in a single computation period). Further, no Hours of Service
shall be credited on account of payments made solely under a plan maintained to comply with worker’s compensation, unemployment compensation, or disability insurance laws, or to reimburse an Employee for medical expenses. 
 (c) Each hour for which back pay (ignoring any mitigation of damages) is either awarded or agreed to by an Employer is an Hour of Service.
However, no more than 501 Hours of Service shall be credited for any single continuous period during which an Employee would not have performed any duties. The same Hours of Service will not be credited both under paragraph (a) or (b) as
the case may be, and under this paragraph (c). These hours will be credited to the employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award agreement or payment is
made. 
 (d) Hours of Service shall be credited in any one period only under one of the foregoing paragraphs (a), (b) and
(c); an Employee may not get double credit for the same period. 
 (e) If an Employer finds it impractical to count the actual
Hours of Service for any class or group of non-hourly Employees, each Employee in that class or group shall be credited with 45 Hours of Service for each weekly pay period in which he has at least one Hour of Service. However, an Employee shall be
credited only for his normal working hours during a paid absence. 
 (f) Hours of Service to be credited on account of a
payment to an Employee (including back pay) shall be recorded in the period of Service for which the payment was made. If the period overlaps two or more Plan Years, the Hours of Service credit shall be allocated in proportion to the respective
portions of the period included in the several Plan Years. However, in the case of periods of 31 days or less, the Administrator may apply a uniform policy of crediting the Hours of Service to either the first Plan Year or the second. 
 (g) In all respects an Employee’s Hours of Service shall be counted as required by Section 2530.200b-2(b) and (c) of the
Department of Labor’s regulations under Title I of ERISA. 
 “Investment Fund” means that portion of the Trust Fund
consisting of assets other than Stock. Notwithstanding the above, assets from the Investment Fund may be used to purchase Stock in the open market or otherwise, or used to pay on the Stock Obligation, and shares so purchased will be allocated to a
Participant’s Stock Fund. 
  

 -4- 

 “Normal Retirement” means retirement on or after the Participant’s Normal
Retirement Date. 
 “Normal Retirement Date” means either of the
following: (i) the first day of the month coincident with or next following the Participant’s 65th
birthday or (ii) attainment of age 60 and completion of five years of Service. 
 “Participant” means any Eligible
Employee who is an Active Participant participating in the Plan, or Eligible Employee or former Employee who was previously an Active Participant and still has a balance credited to his Account. 
 “Period of Uniformed Service” means the length of time that an Employee serves in the Uniformed Services. 
 “Plan Year” means the twelve-month period commencing January 1, 2007 and ending December 31, 2007 and each period of 12
consecutive months beginning on January 1 of each succeeding year. 
 “Recognized Absence” means a period for which --

 (a) an Employer grants an Employee a leave of absence for a limited period, but only if an Employer grants such leave on a
nondiscriminatory basis; or 
 (b) an Employee is temporarily laid off by an Employer because of a change in business
conditions; or 
 (c) an Employee is on active military duty, but only to the extent that his employment rights are protected
by the Military Selective Service Act of 1967 (38 U.S.C. Sec. 2021). 
 “Reemployment After a Period of Uniformed Service”

 (a) “Reemployment (or Reemployed) After a Period of Uniformed Service” means that an Employee returned
to employment with a Participating Employer, within the time frame set forth in subparagraph (b) below, after a Period of Uniformed Service in the Uniformed Services and the following rules corresponding to provisions of the Uniformed Services
Employment and Reemployment Rights Act of 1994 (“USERRA”) apply: (i) he or she gives sufficient notice of leave to the Participating Employer prior to commencing a Period of Uniformed Service, or is excused from providing such
notice; (ii) his or her employment with the Participating Employer prior to a Period of Uniformed Service was not of a brief, nonrecurrent nature that would preclude a reasonable expectation that such employment would continue indefinitely or
for a significant period; (iii) the Participating Employer’s circumstances have not changed so that reemployment is unreasonable or an undue hardship to the Participating Employer; and (iv) the applicable cumulative Periods of
Uniformed Service under USERRA equals five years or less, unless service in the Uniformed Services: 
 (1) in excess of five
years is required to complete an initial Period of Uniformed Service; 
 (2) prevents the Participant from obtaining orders
releasing him or her from such Period of Uniformed Service prior to the expiration of a five-year period (through no fault of the Participant); 
  

 -5- 

 (3) is required in the National Guard for drill and instruction, field exercises or
active duty training, or to fulfill necessary additional training, or to fulfill necessary additional training requirements certified in writing by the Secretary of the branch of Uniformed Services concerned; or 
 (4) for a Participant is 
 (A) required other than for training under any provisions of law during a war or national agency declared by the President or Congress; 
 (B) required (other than for training) in support of an operational mission for which personnel have been ordered to active duty
other than during war or national emergency; 
 (C) required in support of a critical mission or requirement of the Uniformed
Services; or 
 (D) the result of being called into service as a member of the National Guard by the President in the case of
rebellion or danger of rebellion against the authority of the United States Government or if the President is unable to execute the laws of the United States with the regular forces. 
 (b) The applicable statutory time frames within which an Employee must report to a Participating Employer after a Period of Uniformed
Service are as follows: 
 (1) If the Period of Uniformed Service was less than 31 days, 
 (A) not later than the beginning of the first full regularly scheduled work period on the first full calendar day following the
completion of the Period of Uniformed Service and the expiration of eight hours after a period of time allowing for the safe transportation of the Employee from the place of service in the Uniformed Services to the Employee’s residence; or

 (B) as soon as possible after the expiration of the eight-hour period of time referred to in Clause (A), if reporting
within the period referred to in such clause is impossible or unreasonable through no fault of the Employee. 
 (2) In the
case of an Employee whose Period of Uniformed Service was for more than 30 days but less than 181 days, by submitting an application for reemployment with a Participating Employer not later than 14 days after the completion of the Period of
Uniformed Service or, if submitting such application within such period is impossible or unreasonable through no fault of the Employee, the next first full calendar day when submission of such application becomes reasonable. 
 (3) In the case of an Employee whose Period of Uniformed Service was for more than 180 days, by submitting an application for reemployment
with a Participating Employer not later than 90 days after the completion of the Period of Uniformed Service. 
 (4) In the
case of an Employee who is hospitalized for, or convalescing from, an illness or injury related to the Period of Uniformed Service the Employee shall apply for reemployment with a Participating Employer at the end of the period that is necessary for
the Employee to recover. Such period of recovery shall not exceed two years, unless circumstances beyond the Employee’s control make reporting as above unreasonable or impossible. 
  

 -6- 

 (c) Notwithstanding subparagraph (a), Reemployment After a Period of Uniformed Service
terminates upon the occurrence of any of the following: 
 (1) a dishonorable or bad conduct discharge from the Uniformed
Services; 
 (2) any other discharge from the Uniformed Services under circumstances other than an honorable condition;

 (3) a discharge of a commissioned officer from the Uniformed Services by court martial, by commutation of sentence by court
martial, or, in time of war, by the President; or 
 (4) a demotion of a commissioned officer in the Uniformed Services for
absence without authorized leave of at least 3 months confinement under a sentence by court martial, or confinement in a federal or state penitentiary after being found guilty of a crime under a final sentence. 
 “Service” means an Employee’s period(s) of employment or self-employment with an Employer, excluding for initial eligibility
purposes any period in which the individual was a nonresident alien and did not receive from an Employer any earned income which constituted income from sources within the United States. An Employee’s Service shall include any Service which
constitutes Service with a predecessor Employer within the meaning of Section 414(a) of the Code, provided, however, that Service with an acquired entity shall not be considered Service under the Plan unless required by applicable law or agreed
to by the parties to such transaction. An Employee’s Service shall also include any Service with an entity which is not an Employer, but only either (i) for a period after 1975 in which the other entity is a member of a controlled group of
corporations or is under common control with other trades and businesses within the meaning of Section 414(b) or 414(c) of the Code, and a member of the controlled group or one of the trades and businesses is an Employer, (ii) for a period
after 1979 in which the other entity is a member of an affiliated service group within the meaning of Section 414(m) of the Code, and a member of the affiliated service group is an Employer, or (iii) all Employers aggregated with the
Employer under Section 414(o) of the Code (but not until the Proposed Regulations under Section 414(o) become effective). Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect
to qualified military service will be provided in accordance with Section 414(u) of the Code. 
 “Spouse” means the
individual, if any, to whom a Participant is lawfully married on the date benefit payments to the Participant are to begin, or on the date of the Participant’s death, if earlier. A former Spouse shall be treated as the Spouse or surviving
Spouse to the extent provided under a qualified domestic relations order as described in section 414(p) of the Code. 
 “Stock” means shares of the Company’s voting common stock or preferred stock meeting the requirements of Section 409(e)(3) of the Code issued by an Employer which is a member of the same controlled group of
corporations within the meaning of Code Section 414(b). The term “Stock” shall include fractional shares, unless the context clearly indicates otherwise. 
 “Stock Fund” means that portion of the Trust Fund consisting of Stock. 
 “Stock
Obligation” means an indebtedness arising from any extension of credit to the Plan or the Trust which satisfies the requirements set forth in Section 6.3 and which was obtained for any or all of the following purposes: 
 (i) to acquire qualifying Employer securities as defined in Treasury Regulations §54.4975-12; 
  

 -7- 

 (ii) to repay such Stock Obligation; or 
 (iii) to repay a prior exempt loan. 
 “Trust” or “Trust Fund” means the trust fund created under this Plan. 
 “Trust
Agreement” means the agreement between the Bank and the Trustee concerning the Trust Fund. If any assets of the Trust Fund are held in a co-mingled trust fund with assets of other qualified retirement plans, “Trust Agreement”
shall be deemed to include the trust agreement governing that co-mingled trust fund. With respect to the allocation of investment responsibility for the assets of the Trust Fund, the provisions of Article II of the Trust Agreement are incorporated
herein by reference. 
 “Trustee” means one or more corporate persons or individuals selected from time to time by the Bank
to serve as trustee or co-trustees of the Trust Fund. 
 “Unallocated Stock Fund” means that portion of the Stock Fund
consisting of the Plan’s holding of Stock which have been acquired in exchange for one or more Stock Obligations and which have not yet been allocated to the Participant’s Accounts in accordance with Section 4.2. 
 “Uniformed Service” means the performance of duty on a voluntary or involuntary basis in the uniformed service of the United States,
including the U.S. Public Health Services, under competent authority and includes active duty, active duty for training, initial activity duty for training, inactive duty training, full-time National Guard duty, and the period for which a person is
absent from a position of employment for purposes of an examination to determine the fitness of the person to perform any such duty. 
 “Valuation Date” means for so long as there is a generally-recognized market for the Stock each business day. If at any time there shall be no generally-recognized market for the Stock, then “Valuation Date” shall
mean the last day of the Plan Year and each other date as of which the Committee shall determine the investment experience of the Investment Fund and adjust the Participants’ Accounts accordingly. 
 “Valuation Period” means the period following a Valuation Date and ending with the next Valuation Date. 
 “Vesting Year” means a unit of Service credited to a Participant pursuant to Section 9.2 for purposes of determining his vested
interest in his Account. 
 Section 3. Eligibility for Participation. 
 3.1 Initial Eligibility. An Eligible Employee shall enter the Plan as of the Entry Date coincident with or next following the later of the
following dates: 
 (i) the last day of the Eligible Employee’s first Eligibility Year, and 
 (ii) the Eligible Employee’s 21st birthday. However, if an Eligible Employee is not in active Service with an Employer on the date he
would otherwise first enter the Plan, his entry shall be deferred until the next day he is in Service. 
  

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 3.2 Definition of Eligibility Year. “Eligibility Year” means an applicable
eligibility period (as defined below) in which the Eligible Employee has completed 1,000 Hours of Service for the Employer. For this purpose, an Eligible Employee’s first “eligibility period” is the 12-consecutive month period
beginning on the first day on which he has an Hour of Service, and subsequent eligibility periods shall commence on the first anniversary of the date on which the Employee first completed an Hour of Service for the Employer. 
 3.3 Terminated Employees. No Employee shall have any interest or rights under this Plan if he is never in active Service with an Employer
on or after the Effective Date. 
 3.4 Certain Employees Ineligible. 
 3.4-1. No Employee shall participate in the Plan while his Service is covered by a collective bargaining agreement between an Employer and
the Employee’s collective bargaining representative if (i) retirement benefits have been the subject of good faith bargaining between the Employer and the representative and (ii) the collective bargaining agreement does not provide
for the Employee’s participation in the Plan. 
  

	 	3.4-2.	Leased Employees are not eligible to participate in the Plan. 

 3.4-3. Employees who are nonresident aliens with no earned income (within the meaning of Code Section 911(d)(2)) from the Employer which constitutes income from sources within the United States (within the
meaning of Code Section 861(a)(3)). 
 3.4-4. An Eligible Employee may elect not to participate in the Plan, provided,
however, such election is made solely to meet the requirements of Code Section 409(n). For an election to be effective for a particular Plan Year, the Eligible Employee or Participant must file the election in writing with the Plan
Administrator no later than the last day of the Plan Year for which the election is to be effective. The Employer may not make a contribution under the Plan for the Eligible Employee or for the Participant for the Plan Year for which the election is
effective, nor for any succeeding Plan Year, unless the Eligible Employee or Participant re-elects to participate in the Plan. The Eligible Employee or Participant may elect again not to participate, but not earlier than the first Plan Year
following the Plan Year in which the re-election was first effective. 
 3.5 Participation and Reparticipation. Subject to the
satisfaction of the foregoing requirements, an Eligible Employee shall participate in the Plan during each period of his Service from the date on which he first becomes eligible until his termination. For this purpose, an Eligible Employee who
returns before five (5) consecutive one year Breaks in Service who previously satisfied the initial eligibility requirements or who returns after five (5) consecutive one year Breaks in Service with a vested Account balance in the Plan
shall re-enter the Plan as of the date of his return to Service with an Employer. 
 3.6 Omission of Eligible Employee. If, in
any Plan Year, any Eligible Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of such omission is not made until after a contribution by his Employer for the year has been made, the Employer shall make
a subsequent contribution with respect to the omitted Eligible Employee in the amount which the said Employer would have contributed regardless of whether or not it is deductible in whole or in part in any taxable year under applicable provisions of
the Code. 
 3.7 Inclusion of Ineligible Employee. If, in any fiscal year, any person who should not have been included as a
Participant in the Plan is erroneously included and discovery of such incorrect inclusion is not made 

  

 -9- 

 
until after a contribution for the year has been made, the Employer shall not be entitled to recover the contribution made with respect to the ineligible
person regardless of whether or not a deduction is allowable with respect to such contribution. In such event, the amount contributed with respect to the ineligible person shall constitute a forfeiture for the fiscal year in which the discovery is
made. 
 Section 4. Contributions and Credits. 
 4.1 Discretionary Contributions. 
 4.1-1. The Employer shall from time to time
contribute, with respect to a Plan Year, such amounts as it may determine from time to time. The Employer shall have no obligation to contribute any amount under this Plan except as so determined in its sole discretion. The Employer’s
contributions and available forfeitures for a Plan Year shall be credited as of the last day of the year to the Accounts of the Active Participants in the manner set forth in Section 8.1-2. 
 4.1-2. Upon a Participant’s Reemployment After a Period of Uniformed Service, the Employer shall make an additional contribution on
behalf of such Participant that would have been made on his or her behalf during the Plan Year or Years corresponding to the Participant’s Period of Uniformed Service. 
 4.2 Contributions for Stock Obligations. If the Trustee, upon instructions from the Committee, incurs any Stock Obligation upon the
purchase of Stock, the Employer may contribute for each Plan Year an amount sufficient to cover all payments of principal and interest as they come due under the terms of the Stock Obligation. If there is more than one Stock Obligation, the Employer
shall designate the one to which any contribution is to be applied. Investment earnings realized on Employer contributions and any dividends paid by the Employer on Stock held in the Unallocated Stock Account, shall be applied to the Stock
Obligation related to that Stock, subject to Section 7.2. 
 In each Plan Year in which Employer contributions, earnings on
contributions, or dividends on Stock in the Unallocated Stock Fund are used as payments under a Stock Obligation, a certain number of shares of the Stock acquired with that Stock Obligation which is then held in the Unallocated Stock Fund shall be
released for allocation among the Participants. The number of shares released shall bear the same ratio to the total number of those shares then held in the Unallocated Stock Fund (prior to the release) as (i) the principal and interest
payments made on the Stock Obligation in the current Plan Year bears to (ii) the sum of (i) above, and the remaining principal and interest payments required (or projected to be required on the basis of the interest rate in effect at the
end of the Plan Year) to satisfy the Stock Obligation. 
 At the direction of the Committee, the current and projected payments of interest
under a Stock Obligation may be ignored in calculating the number of shares to be released in each year if (i) the Stock Obligation provides for annual payments of principal and interest at a cumulative rate that is not less rapid at any time
than level annual payments of such amounts for 10 years, (ii) the interest included in any payment is ignored only to the extent that it would be determined to be interest under standard loan amortization tables, and (iii) the term of the
Stock Obligation, by reason of renewal, extension, or refinancing, has not exceeded 10 years from the original acquisition of the Stock. 
 4.3 Conditions as to Contributions. Employers’ contributions shall in all events be subject to the limitations set forth in Section 5. Contributions may be made in the form of cash, or securities and other property
to the extent permissible under ERISA, including Stock, and shall be held by the Trustee in accordance with the Trust Agreement. In addition to the provisions of Section 13.3 for the return of an Employer’s contributions in connection with
a failure of the Plan to qualify initially under the Code, any amount contributed by an Employer 

  

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due to a good faith mistake of fact, or based upon a good faith but erroneous determination of its deductibility under Section 404 of the Code, shall be
returned to the Employer within one year after the date on which the contribution was originally made, or within one year after its nondeductibility has been finally determined. However, the amount to be returned shall be reduced to take account of
any adverse investment experience within the Trust Fund in order that the balance credited to each Participant’s Account is not less that it would have been if the contribution had never been made. 
 4.4 Rollover Contributions. This Plan shall not accept a direct rollover or rollover contribution of an “eligible rollover
distribution” as such term is defined in Section 10.9-1 of the Plan. 
 Section 5. Limitations on Contributions and
Allocations. 
 5.1 Limitation on Annual Additions. Notwithstanding anything herein to the contrary, allocation of
Employer contributions for any Plan Year shall be subject to the following: 
 5.1-1 If allocation of Employer contributions
in accordance with Section 4.1 will result in an allocation of more than one-third the total contributions for a Plan Year to the Accounts of Highly Paid Employees, then allocation of such amount shall be adjusted so that such excess will not
occur. 
 5.1-2 After adjustment, if any, required by the preceding paragraph, the annual additions during any Plan Year to
any Participant’s Account under this and any other defined contribution plans maintained by the Employer or an affiliate (within the purview of Section 414(b), (c) and (m) and Section 415(h) of the Code, which affiliate
shall be deemed the Employer for this purpose) shall not exceed the lesser of $45,000 (or such other dollar amount which results from cost-of-living adjustments under Section 415(d) of the Code) (the “dollar limitation”) or 100
percent of the Participant’s 415 Compensation for such limitation year (the “percentage limitation”). The percentage limitation shall not apply to any contribution for medical benefits after separation from service (within the meaning
of Section 401(h) or Section 419A(f)(2) of the Code) which is otherwise treated as an annual addition. If, as a result of the allocation of forfeitures, a reasonable error in estimating a Participant’s annual compensation, a
reasonable error in determining the amount of elective deferrals (within the meaning of Code Section 402(g)(3)) that may be made with respect to any individual under the limits of Code Section 415, or under other limited facts and
circumstances that the Commissioner of the Internal Revenue Service finds justify the availability of the rules set forth in this paragraph, the annual additions under the terms of the Plan for a particular Participant would cause the limitations of
Code Section 415 applicable to that Participant for the limitation year to be exceeded, the excess amounts shall not be deemed annual additions in that limitation year if they are treated in accordance with any one of the following: 

(i) Any excess amount at the end of the Plan Year that cannot be allocated to the Participant’s Account shall be reallocated to
the remaining Participants who are eligible for an allocation of Employer contributions for the Plan Year. The reallocation shall be made in accordance with Section 4.1 of the Plan as if the Participant whose Account otherwise would receive the
excess amount is not eligible for an allocation of Employer contributions. 
 (ii) If the allocation or reallocation of the
excess amounts causes the limitations of Code section 415 to be exceeded with respect to each Participant for the limitation year, then the excess amount will be held unallocated in a suspense account. The suspense account will be applied to reduce
future Employer contributions for all remaining Participants in the next limitation year and each succeeding limitation year if necessary. 
  

 -11- 

 (iii) If a suspense account is in existence at any time during a limitation year, it will
not participate in any allocation of investment gains and losses. All amounts held in suspense accounts must be allocated to Participants’ Accounts before any contributions may be made to the Plan for the limitation year. 
 (iv) If a suspense account exists at the time of Plan termination, amounts held in the suspense account that cannot be allocated shall
revert to the Employer. 
 5.1-3 For purposes of this Section 5.1, the “annual addition” to a
Participant’s Accounts means the sum of (i) Employer contributions, (ii) Employee contributions, if any, and (iii) forfeitures. Annual additions to a defined contribution plan also include amounts allocated, after March 31,
1984, to an individual medical account, as defined in Section 415(l)(2) of the Internal Revenue Code, which is part of a pension or annuity plan maintained by the Employer, amounts derived from contributions paid or accrued after
December 31, 1985, in taxable years ending after such date, which are attributable to post-retirement medical benefits allocated to the separate account of a Key Employee under a welfare benefit fund, as defined in Section 419A(d) of the
Internal Revenue Code, maintained by the Employer. For these purposes, annual additions to a defined contribution plan shall not include the allocation of the excess amounts remaining in the Unallocated Stock Fund subsequent to a sale of stock from
such fund in accordance with a transaction described in Section 8.1 of the Plan. 
 5.1-4 Notwithstanding the foregoing,
if no more than one-third of the Employer contributions to the Plan for a year which are deductible under Section 404(a)(9) of the Code are allocated to Highly Paid Employees (within the meaning of Section 414(q) of the Internal Revenue
Code), the limitations imposed herein shall not apply to: 
 (i) forfeitures of Employer securities (within the meaning of
Section 409 of the Code) under the Plan if such securities were acquired with the proceeds of a loan described in Section 404(a)(9)(A) of the Code), or 
 (ii) Employer contributions to the Plan which are deductible under Section 404(a)(9)(B) and charged against a Participant’s
Account. 
 5.1-5 If the Employer contributes amounts, on behalf of Eligible Employees covered by this Plan, to other
“defined contribution plans” as defined in Section 3(34) of ERISA, the limitation on annual additions provided in this Section shall be applied to annual additions in the aggregate to this Plan and to such other plans. Reduction of
annual additions, where required, shall be accomplished first by reductions under such other plan pursuant to the directions of the named fiduciary for administration of such other plans or under priorities, if any, established under the terms of
such other plans and then by allocating any remaining excess for this Plan in the manner and priority set out above with respect to this Plan. 
 5.1-6 A limitation year shall mean each 12 consecutive month period ending on December 31 within the Plan Year. 
 5.2 Effect of Limitations. The Committee shall take whatever action may be necessary from time to time to assure compliance with the limitations set forth in Section 5.1. Specifically, the Committee
shall see that each Employer restrict its contributions for any Plan Year to an amount which, taking into account the amount of available forfeitures, may be completely allocated to the Participants consistent with those limitations. Where the

  

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limitations would otherwise be exceeded by any Participant, further allocations to the Participant shall be curtailed to the extent necessary to satisfy the
limitations. Where an excessive amount is contributed on account of a mistake as to one or more Participants’ compensation, or there is an amount of forfeitures which may not be credited in the Plan Year in which it becomes available, the
amount shall be corrected in accordance with Section 5.1-2 of the Plan. If it is determined at any time that the Committee and/or Trustee has erred in accepting and allocating any contributions or forfeitures under this Plan, or in allocating
net gain or loss pursuant to Sections 8.2 and 8.3, then the Committee, in a uniform and nondiscriminatory manner, shall determine the manner in which such error shall be corrected and shall promptly advise the Trustee in writing of such error and of
the method for correcting such error. The Accounts of any or all Participants may be revised, if necessary, in order to correct such error. 
 5.3 Limitations as to Certain Participants. Aside from the limitations set forth in Section 5.1, if the Plan acquires any Stock in a transaction as to which a selling shareholder or the estate of a deceased shareholder is
claiming the benefit of Section 1042 of the Code, the Committee shall see that none of such Stock, and no other assets in lieu of such Stock, are allocated to the Accounts of certain Participants in order to comply with Section 409(n) of
the Code. 
 This restriction shall apply at all times to a Participant who owns (taking into account the attribution rules under
Section 318(a) of the Code, without regard to the exception for employee plan trusts in Section 318(a)(2)(B)(i) more than 25 percent of any class of stock of a corporation which issued the Stock acquired by the Plan, or another corporation
within the same controlled group, as defined in Section 409(l)(4) of the Code (any such class of stock hereafter called a “Related Class”). For this purpose, a Participant who owns more than 25 percent of any Related Class at any time
within the one year preceding the Plan’s purchase of the Stock shall be subject to the restriction as to all allocations of the Stock, but any other Participant shall be subject to the restriction only as to allocations which occur at a time
when he owns more than 25 percent of any Related Class. 
 Further, this restriction shall apply to the selling shareholder claiming the
benefit of Section 1042 and any other Participant who is related to such a shareholder within the meaning of Section 267(b) of the Code, during the period beginning on the date of sale and ending on the later of (1) the date that is
ten years after the date of sale, or (2) the date of the Plan allocation attributable to the final payment of acquisition indebtedness incurred in connection with the sale. 
 This restriction shall not apply to any Participant who is a lineal descendant of a selling shareholder if the aggregate amounts allocated under the Plan
for the benefit of all such descendants do not exceed five percent of the Stock acquired from the shareholder. 
 5.4 Erroneous
Allocations. No Participant shall be entitled to any annual additions or other allocations to his Account in excess of those permitted under Section 5. If it is determined at any time that the administrator and/or Trustee have erred in
accepting and allocating any contributions or forfeitures under this Plan, or in allocating investment adjustments, or in excluding or including any person as a Participant, then the administrator, in a uniform and nondiscriminatory manner, shall
determine the manner in which such error shall be corrected, after taking into consideration Sections 3.6 and 3.7, if applicable, and shall promptly advise the Trustee in writing of such error and of the method for correcting such error. The
Accounts of any or all Participants may be revised, if necessary, in order to correct such error. 
 Section 6. Trust Fund and Its Investment.

 6.1 Creation of Trust Fund. All amounts received under the Plan from Employers and investments shall be held as the Trust
Fund pursuant to the terms of this Plan and of the Trust Agreement between the Bank 

  

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and the Trustee. The benefits described in this Plan shall be payable only from the assets of the Trust Fund, and none of the Bank, any other Employer, its
board of directors or trustees, its stockholders, its officers, its employees, the Committee, and the Trustee shall be liable for payment of any benefit under this Plan except from the Trust Fund. 
 6.2 Stock Fund and Investment Fund. The Trust Fund held by the Trustee shall be divided into the Stock Fund, consisting entirely of Stock,
and the Investment Fund, consisting of all assets of the Trust other than Stock. The Trustee shall have no investment responsibility for the Stock Fund, but shall accept any Employer contributions made in the form of Stock, and shall acquire, sell,
exchange, distribute, and otherwise deal with and dispose of Stock in accordance with the instructions of the Committee. The Trustee shall have full responsibility for the investment of the Investment Fund, except to the extent such responsibility
may be delegated from time to time to one or more investment managers pursuant to Section 2.3 of the Trust Agreement, or to the extent the Committee directs the Trustee to purchase Stock with the assets in the Investment Fund. 
 6.3 Acquisition of Stock. From time to time the Committee may, in its sole discretion, direct the Trustee to acquire Stock from the issuing
Employer or from shareholders, including shareholders who are or have been Employees, Participants, or fiduciaries with respect to the Plan. The Trustee shall pay for such Stock no more than its fair market value, which shall be determined
conclusively by the Committee pursuant to Section 12.4. The Committee may direct the Trustee to finance the acquisition of Stock by incurring or assuming indebtedness to the seller or another party which indebtedness shall be called a
“Stock Obligation.” The term “Stock Obligation” shall refer to a loan made to the Plan by a disqualified person within the meaning of Section 4975(e)(2) of the Code, or a loan to the Plan which is guaranteed by a
disqualified person. A Stock Obligation includes a direct loan of cash, a purchase-money transaction, and an assumption of an obligation of a tax-qualified employee stock ownership plan under Section 4975(e)(7) of the Code (“ESOP”).
For these purposes, the term “guarantee” shall include an unsecured guarantee and the use of assets of a disqualified person as collateral for a loan, even though the use of assets may not be a guarantee under applicable state law. An
amendment of a Stock Obligation in order to qualify as an “exempt loan” is not a refinancing of the Stock Obligation or the making of another Stock Obligation. The term “exempt loan” refers to a loan that satisfies the provisions
of this paragraph. A “non-exempt loan” fails to satisfy this paragraph. Any Stock Obligation shall be subject to the following conditions and limitations: 
 6.3-1 A Stock Obligation shall be for a specific term, shall not be payable on demand except in the event of default, and shall bear a
reasonable rate of interest. 
 6.3-2 A Stock Obligation may, but need not, be secured by a collateral pledge of either the
Stock acquired in exchange for the Stock Obligation, or the Stock previously pledged in connection with a prior Stock Obligation which is being repaid with the proceeds of the current Stock Obligation. No other assets of the Plan and Trust may be
used as collateral for a Stock Obligation, and no creditor under a Stock Obligation shall have any right or recourse to any Plan and Trust assets other than Stock remaining subject to a collateral pledge. 
 6.3-3 Any pledge of Stock to secure a Stock Obligation must provide for the release of pledged Stock in connection with payments on the
Stock obligations in the ratio prescribed in Section 4.2. 
 6.3-4 Repayments of principal and interest on any Stock
Obligation shall be made by the Trustee only from Employer cash contributions designated for such payments, from earnings on such contributions, and from cash dividends received on Stock, in the last case, however, subject to the further
requirements of Section 7.2. 
  

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 6.3-5 In the event of default of a Stock Obligation, the value of Plan assets transferred
in satisfaction of the Stock Obligation must not exceed the amount of the default. If the lender is a disqualified person within the meaning of Section 4975 of the Code, a Stock Obligation must provide for a transfer of Plan assets upon default
only upon and to the extent of the failure of the Plan to meet the payment schedule of said Stock Obligation. For purposes of this paragraph, the making of a guarantee does not make a person a lender. 
 6.4 Participants’ Option to Diversify. The Committee shall provide for a procedure under which each Participant may, during the
qualified election period, elect to “diversify” a portion of the Employer Stock allocated to his Account, as provided in Section 401(a)(28)(B) of the Code. An election to diversify must be made on the prescribed form and filed with
the Committee within the period specified herein. For each of the first five (5) Plan years in the qualified election period, the Participant may elect to diversify an amount which does not exceed 25% of the number of shares allocated to his
Account since the inception of the Plan, less all shares with respect to which an election under this Section has already been made. For the last year of the qualified election period, the Participant may elect to have up to 50 percent of the value
of his Account committed to other investments, less all shares with respect to which an election under this Section has already been made. The term “qualified election period” shall mean the six (6) Plan Year period beginning with the
first Plan Year in which a Participant has both attained age 55 and completed 10 years of participation in the Plan. A Participant’s election to diversify his Account may be made within each year of the qualified election period and shall
continue for the 90-day period immediately following the last day of each year in the qualified election period. Once a Participant makes such election, the Plan must complete diversification in accordance with such election within 90 days after the
end of the period during which the election could be made for the Plan Year. In the discretion of the Committee, the Plan may satisfy the diversification requirement by any of the following methods: 
 6.4-1 The Plan may distribute all or part of the amount subject to the diversification election. 
 6.4-2 The Plan may offer the Participant at least three other distinct investment options, if available under the Plan. The other
investment options shall satisfy the requirements of Regulations under Section 404(c) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). 
 6.4-3 The Plan may transfer the portion of the Participant’s Account subject to the diversification election to another qualified
defined contribution plan of the Employer that offers at least three investment options satisfying the requirements of the Regulations under Section 404(c) of ERISA. 
 Section 7. Voting Rights and Dividends on Stock. 
 7.1 Voting and Tendering of
Stock. 
 7.1-1. The Trustee generally shall vote all shares of Stock held under the Plan in accordance with the
written instructions of the Committee. However, if any Employer has registration-type class of securities within the meaning of Section 409(e)(4) of the Code, or if a matter submitted to the holders of the Stock involves a merger,
consolidation, recapitalization, reclassification, liquidation, dissolution, or sale of substantially all assets of an entity, then (i) the shares of Stock which have been allocated to Participants’ Accounts shall be voted by the Trustee
in accordance with the Participants’ written instructions, and (ii) the Trustee shall vote any unallocated Stock, allocated Stock for which it has received no voting instructions, and Stock for which Participants vote to
“abstain,” in the same proportions as it votes the allocated Stock for which it has received instructions from Participants; provided, however, that if an exempt loan, as defined in Section 4975(d) of the Code, is outstanding and the
Plan is in default on such exempt loan, as default is defined in the loan documents, then to the extent that such loan documents require the lender to exercise voting rights with respect to the 

  

 -15- 

 
unallocated shares, the loan documents will prevail. In the event no shares of Stock have been allocated to Participants’ Accounts at the time Stock is
to be voted and any exempt loan which may be outstanding is not in default, each Participant shall be deemed to have one share of Stock allocated to his or her Account for the sole purpose of providing the Trustee with voting instructions.

 Notwithstanding any provision hereunder to the contrary, all unallocated shares of Stock must be voted by the Trustee in a manner
determined by the Trustee to be for the exclusive benefit of the Participants and Beneficiaries. Whenever such voting rights are to be exercised, the Employers shall provide the Trustee, in a timely manner, with the same notices and other materials
as are provided to other holders of the Stock, which the Trustee shall distribute to the Participants. The Participants shall be provided with adequate opportunity to deliver their instructions to the Trustee regarding the voting of Stock allocated
to their Accounts. The instructions of the Participants with respect to the voting of allocated shares hereunder shall be confidential. 
 7.1-2 In the event of a tender offer, Stock shall be tendered by the Trustee in the same manner as set forth above with respect to the voting of Stock. Notwithstanding any provision hereunder to the contrary, Stock
must be tendered by the Trustee in a manner determined by the Trustee to be for the exclusive benefit of the Participants and Beneficiaries. 
 7.2 Application of Dividends. 
 7.2-1 Stock Dividends. Dividends on Stock which are received by
the Trustee in the form of additional Stock shall be retained in the Stock Fund, and shall be allocated among the Participants’ Accounts and the Unallocated Stock Fund in accordance with their holdings of the Stock on which the dividends are
paid. 
 7.2-2 Cash Dividends. The treatment of dividends paid in cash shall be determined after consideration to
whether the cash dividends are paid on Stock held in Participants’ Accounts or the Unallocated Stock Fund. 
 (i) On
Stock in Participants’ Accounts. 
 (A) Employer Exercises Discretion. Dividends on Stock credited to
Participants’ Accounts which are received by the Trustee in the form of cash shall, at the direction of the Employer paying the dividends, either (i) be credited to the Accounts in accordance with Section 8.4(c) and invested as part
of the Investment Fund, (ii) be distributed immediately to the Participants in proportion with the Participants’ Stock Fund Account balance (iii) be distributed to the Participants within 90 days of the close of the Plan Year in which
paid in proportion with the Participants’ Stock Fund Account balance or (iv) be used to make payments on the Stock Obligation. If dividends on Stock allocated to a Participant’s Account are used to repay the Stock Obligation, Stock
with a fair market value equal to the dividends so used must be allocated to such Participant’s Account in lieu of the dividends. 
 (B) Participant Exercises Discretion over Dividend. In addition, in the sole discretion of the Employer, the Employer may grant Participants the right to elect: (I) to have cash dividends paid on shares of
Stock credited to such Participants’ Stock Fund Accounts distributed to the Participant, or (II) to leave the cash dividends allocated to the Participant’s Account in the Plan, to be credited to the Stock Fund Account and invested in
shares of Stock. Dividends on which such election may be made will be fully vested in the Participant (even if not otherwise vested, absent the ability to make such election). Accordingly, the Employer may choose to offer this election only to
Participants who are fully vested in their Account. In the event the Employer elects to give Participants the right to 

  

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determine the treatment of such dividends, the Participant’s election shall be made by filing with the Committee the appropriate written direction as
provided by the Committee at such time and in accordance with such procedures and limitations which the Committee may from time to time establish; provided, however, that the procedures established by the Committee shall provide a reasonable
opportunity to change the election at least annually, may establish a default election if a Participant fails to make an affirmative election within the time established for making elections, may provide that the election is applicable for the Plan
Year and cannot be revoked with respect to such Plan Year, shall otherwise be implemented in a manner such that the dividends paid or reinvested will constitute “applicable dividends” which may be deducted under Code Section 404(k),
and are in accordance with applicable guidance issued or to be issued by the Secretary of the Treasury. If the Employer elects to give Participants the right to exercise the discretion in this Paragraph 7.2-2(i)(B), the ability to make such election
shall be available to the Participant with respect to dividends paid for the entire Plan Year. 
 (ii) On Stock in the
Unallocated Stock Fund. Dividends received on shares of Stock held in the Unallocated Stock Fund shall be applied to the repayment of principal and interest then due on the Stock Obligation used to acquire such shares. If the amount of dividends
exceeds the amount needed to repay such principal and interest (including any prepayments of principal and interest deemed advisable by the Employer), then in the sole discretion of the Committee, the excess shall: (A) be allocated to Active
Participants on a non-discriminatory basis, consistent with Section 7.2-2(i) above, and in the discretion of the Committee, treated as a dividend described in such Section, or (B) be deemed to be general earnings of the Trust Fund and used
for paying appropriate Plan or Trust related expenditures for the Plan Year. Notwithstanding the foregoing, dividends paid on a share of Stock may not be used to make payments on a particular Stock Obligation unless the share was acquired with the
proceeds of such loan or a refinancing of such loan. 
 Section 8. Adjustments to Accounts. 
 8.1 ESOP Allocations. Amounts available for allocation for a particular Plan Year will be divided into two categories. The first category
relates to shares of Stock released from the Unallocated Stock Fund attributable to using cash dividends to make Stock Obligation payments. The second category relates to contributions made by the Employer, shares of Stock released from the
Unallocated Stock Fund on the basis of Employer contributions (or on the basis of the complete repayment of the Stock Obligation through the sale or other disposition of Stock in the Unallocated Stock Fund) and amounts forfeited from Stock Fund
Accounts pursuant to Section 9.5. 
 8.1-1. Shares of Stock attributable to the first category will be allocated to the
Stock Fund Accounts of eligible Participants as follows: 
 (i) first, if dividends paid on shares of Stock held in
Participants’ Stock Fund Accounts are used to make payments on an Stock Obligation, there shall be allocated to each such account a number of shares of Stock released from the Unallocated Stock Fund with a fair market value (determined as of
the Valuation Date coincident with or immediately preceding the loan payment date) that at least equals the amount of dividends so used, 
 (ii) second, if necessary, any remaining shares of Stock shall be applied to reinstate amounts forfeited from Stock Fund Accounts of former employees who are entitled to a reinstatement under Section 9.5, and

 (iii) finally, any remaining shares of Stock shall be allocated as a general investment gain in proportion to the number of
shares held in the Active Participants’ Stock Fund Accounts as of the last Valuation Date of the Plan Year for which they are allocated in the same manner as described in Section 7.2-2(i). 
  

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 8.1-2. Shares of Stock or cash attributable to the second category (i.e., Employer
contributions, Stock released from the Unallocated Stock Fund on the basis of Employer contributions, and amounts forfeited) will be allocated to the Stock Fund Accounts or Investment Fund Accounts, as the case may be, pro rata, in proportion to the
415 Compensation of each Active Participant that was earned by such Participant for the portion of the calendar year during which he or she was a Participant compared to total 415 Compensation for all Active Participants. Notwithstanding anything
herein to the contrary, with respect to Participants who initially enter the Plan on the Closing Date, allocations under the second category will be made in proportion to the 415 Compensation of each such Active Participant during the initial Plan
Year that was earned for the entire period that such person was employed by the Bank during such Plan Year. 
 8.1-3. Shares
of Stock or cash attributable to contributions made under Section 4.1-2 shall be allocated specifically to the Participants on whose behalf such contributions were made. 
 8.2 Charges to Accounts. When a Valuation Date occurs, any distributions made to or on behalf of any Participant or Beneficiary since the
last preceding Valuation Date shall be charged to the proper Accounts maintained for that Participant or Beneficiary. 
 8.3 Stock Fund
Account. Subject to the provisions of Sections 5 and 8.1, as of the last day of each Plan Year, the Trustee shall credit to each Participant’s Stock Fund Account: (a) the Participant’s allocable share of Stock purchased by the
Trustee or contributed by the Employer to the Trust Fund for that year; (b) the Participant’s allocable share of the Stock that is released from the Unallocated Stock Fund for that year; (c) the Participant’s allocable share of
any forfeitures of Stock arising under the Plan during that year; and (d) any stock dividends declared and paid during that year on Stock credited to the Participant’s Stock Fund Account. 
 If, in any Plan Year during which an outstanding Stock Obligation exists, the Employer directs the Trustee to sell or otherwise dispose of a number of
shares of Stock in the Unallocated Stock Fund sufficient to repay, in its entirety, the Stock Obligations, and following such repayment, there remains Stock or other assets in the Unallocated Stock Fund, such Stock or other assets shall be allocated
as of the last day of the Plan Year in which the repayment occurred as earnings of the Plan to Active Participants, in proportion to the number of shares held in Active Participants’ Stock Fund Accounts. 
 8.4 Investment Fund Account. Subject to the provisions of Sections 5 and 8.1 as of the last day of each Plan Year, the Trustee shall credit
to each Participant’s Investment Fund Account: (a) the Participant’s allocable share of any contribution for that year made by the Employer in cash or in property other than Stock that is not used by the Trustee to purchase Employer
Stock or to make payments due under a Stock Obligation; (b) the Participant’s allocable share of any forfeitures from the Investment Fund Accounts of other Participants arising under the Plan during that year; (c) any cash dividends
paid during that year on Stock credited to the Participant’s Stock Fund Account, other than dividends which are paid directly to the Participant and other than dividends which are used to repay Stock Obligation; and (d) the share of the
net income or loss of the Trust Fund properly allocable to that Participant’s Investment Fund Account, as provided in Section 8.5. 
 8.5 Adjustment to Value of Trust Fund. As of the last day of each Plan Year, the Trustee shall determine: (i) the net worth of that portion of the Trust Fund which consists of properties other than Stock (the
“Investment Fund”); and (ii) the increase or decrease in the net worth of the Investment Fund since the last day of the preceding Plan Year. The net worth of the Investment Fund shall be the fair market value of all properties held by
the Trustee under the Trust Agreement other than Stock, net of liabilities other than liabilities to 

  

 -18- 

 
Participants and their beneficiaries. The Trustee shall allocate to the Investment Fund Account of each Participant that percentage of the increase or
decrease in the net worth of the Investment Fund equal to the ratio which the balances credited to the Participant’s Investment Fund Account bear to the total amount credited to all Participants’ Investments Fund Accounts. This allocation
shall be made after application of Section 7.2, but before application of Sections 8.1, 8.4 and 5.1. 
 8.6 Participant
Statements. Each Plan Year, the Trustee will provide each Participant with a statement of his or her Account balances as of the last day of the Plan Year. 
 Section 9. Vesting of Participants’ Interests. 
 9.1 Deferred Vesting in Accounts. A
Participant’s vested interest in his Account shall be based on his Vesting Years in accordance with the following table, subject to the balance of this Section 9: 
  

				
	 Vesting
 Years
	  	 Percentage of
 Interest Vested
	 
	 Fewer than 1
	  	0	%
	 1
	  	20	%
	 2
	  	40	%
	 3
	  	60	%
	 4
	  	80	%
	 5 or more
	  	100	%

 9.2 Computation of Vesting Years. For purposes of this Plan, a “Vesting
Year” means generally a Plan Year in which an Eligible Employee has performed at least 1,000 Hours of Service, beginning with the first Plan Year in which the Eligible Employee has completed an Hour of Service with the Employer, and including
Service with other Employers as provided in the definition of “Service.” Notwithstanding the above, an Eligible Employee employed with the Bank shall receive credit for vesting purposes for each calendar year of continuous employment with
the Bank, prior to the adoption of the Plan, in which such Eligible Employee completed at least 1,000 Hours of Service (such years shall also be referred to as “Vesting Years”), up to a maximum of five Vesting Years. However, a
Participant’s Vesting Years shall be computed subject to the following conditions and qualifications: 
 9.2-1 A
Participant’s Vesting Years shall not include any Service prior to the date on which an Eligible Employee attains age 18. 
 9.2-2 To the extent applicable, a Participant’s vested interest in his Account accumulated before five (5) consecutive one year Break in Service shall be determined without regard to any Service after such five consecutive Breaks
in Service. Further, if a Participant has five (5) consecutive one year Break in Service before his interest in his Account has become vested to some extent, pre-Break in Service years of Service shall not be required to be taken into account
for purposes of determining his post-Break in Service vested percentage. 
 9.2-3 To the extent applicable, in the case of a
Participant who has 5 or more consecutive one year Break in Service, the Participant’s pre-Break in Service will count in vesting of the Employer-derived post-Break in Service accrued benefit only if either: 
 (i) such Participant has any nonforfeitable interest in the accrued benefit attributable to Employer contributions at the time of
separation from Service, or 
  

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 (ii) upon returning to Service the number of consecutive one year Breaks in Service is
less than the number of years of Service. 
 9.2-4 Notwithstanding any provision of the Plan to the contrary, calculation of
service for determining Vesting Years with respect to qualified military service will be provided in accordance with Section 414(u) of the Code. 
 9.2-5 To the extent applicable, if any amendment changes the vesting schedule, including an automatic change to or from a top-heavy vesting schedule, any Participant with three (3) or more Vesting Years may, by
filing a written request with the Employer, elect to have his vested percentage computed under the vesting schedule in effect prior to the amendment. The election period must begin not later than the later of sixty (60) days after the amendment
is adopted, the amendment becomes effective, or the Participant is issued written notice of the amendment by the Employer or the Committee. 
 9.3 Full Vesting Upon Certain Events. 
 9.3-1 Notwithstanding Section 9.1, a Participant’s
interest in his Account shall fully vest on the Participant’s Normal Retirement Date. The Participant’s interest shall also fully vest in the event that his Service is terminated by Disability or by death. 
 9.3-2 The Participant’s interest in his Account shall also fully vest in the event of a “Change in Control” of the Bank or
the Company. For these purposes, “Change in Control” shall mean a change in control of a nature that: (i) would be required to be reported in response to Item 5.01 of the Current Report on Form 8-K, as in effect on the date
hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”); or (ii) results in a Change in Control of the Bank or the Company within the meaning of the Home Owners Loan Act, as amended
(“HOLA”), and applicable rules and regulations promulgated thereunder, as in effect at the time of the Change in Control; or (iii) without limitation such a Change in Control shall be deemed to have occurred at such time as
(a) any “person” (as the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner”(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the
Company representing 25% or more of the combined voting power of Company’s outstanding securities except for any securities purchased by the Bank’s employee stock ownership plan or trust; or (b) individuals who constitute the Board on
the date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least
three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by the Company’s stockholders was approved by the same Nominating Committee serving under an Incumbent Board, shall be, for purposes of this clause
(b), considered as though he were a member of the Incumbent Board; or (c) a plan of reorganization, merger, consolidation, sale of all or substantially all the assets of the Bank or the Company or similar transaction in which the Bank or
Company is not the surviving institution occurs; or (d) a proxy statement soliciting proxies from stockholders of the Company, by someone other than the current management of the Company, seeking stockholder approval of a plan of
reorganization, merger or consolidation of the Company or similar transaction with one or more corporations as a result of which the outstanding shares of the class of securities then subject to the Plan are to be exchanged for or converted into
cash or property or securities not issued by the Company; or (e) a tender offer is made for 25% or more of the voting securities of the Company and the shareholders owning beneficially or of record 25% or more of the outstanding securities of
the Company have tendered or offered to sell their shares pursuant to such tender offer and such tendered shares have been accepted by the tender offeror. Notwithstanding anything herein to the contrary, the reorganization of the Company by way of a
second-step conversion shall not be considered a “Change in Control.” 
  

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 9.3-3 Upon a Change in Control described in 9.3-2, the Plan shall be terminated and the
Plan Administrator shall direct the Trustee to sell a sufficient amount of Stock from the Unallocated Stock Fund to repay any outstanding Stock Obligation in full. The proceeds of such sale shall be used to repay such Stock Obligation. After
repayment of the Stock Obligation, all remaining shares in the Unallocated Stock Fund (or the proceeds thereof, if applicable) shall be deemed to be earnings and shall be allocated in accordance with the requirements of Section 8.3. 

9.4 Full Vesting Upon Plan Termination. Notwithstanding Section 9.1, a Participant’s interest in his Account shall fully vest
upon termination of this Plan or upon the permanent and complete discontinuance of contributions by his Employer. In the event of a partial termination, the interest of each affected Participant shall fully vest with respect to that part of the Plan
which is terminated. 
 9.5 Forfeiture, Repayment, and Restoral. If a Participant’s Service terminates before his interest
in his Account is fully vested, that portion which has not vested shall be forfeited if he either (i) receives a distribution of his entire vested interest pursuant to Section 10.1, or (ii) incurs a one year Break in Service. If a
Participant’s Service terminates prior to having any portion of his Account become vested, such Participant shall be deemed to have received a distribution of his vested interest immediately upon his termination of Service. 
 If a Participant who has suffered a forfeiture of the nonvested portion of his Account returns to Service before he has five (5) consecutive
one-year Break in Service, the nonvested portion shall be restored, provided that, if the Participant had received a distribution of his vested Account balance, the amount distributed shall be repaid prior to such restoral. The Participant may repay
such amount at any time within five years after he has returned to Service. The amount repaid shall be credited to his Account at the time it is repaid; an additional amount equal to that portion of his Account which was previously forfeited shall
be restored to his Account at the same time from other Employees’ forfeitures and, if such forfeitures are insufficient, then from amounts allocated in accordance with Section 8.1-1(ii), and if insufficient, then from a special
contribution by his Employer for that year. If the Participant did not receive a distribution of his vested Account balance, any forfeiture restored shall include earnings that would have been credited to the Account but for the forfeiture. A
Participant who was deemed to have received a distribution of his vested interest in the Plan shall have his Account restored as of the first day on which he performs an Hour of Service after his return. 
 9.6 Accounting for Forfeitures. If a portion of a Participant’s Account is forfeited, Stock allocated to said Participant’s
Account shall be forfeited only after other assets are forfeited. If interests in more than one class of Stock have been allocated to a Participant’s Account, the Participant must be treated as forfeiting the same proportion of each class of
Stock. A forfeiture shall be charged to the Participant’s Account as of the first day of the first Valuation Period in which the forfeiture becomes certain pursuant to Section 9.5. Except as otherwise provided in that Section, a forfeiture
shall be added to the contributions of the terminated Participant’s Employer which are to be credited to other Participants pursuant to Section 4.1 as of the last day of the Plan Year in which the forfeiture becomes certain. 
 9.7 Vesting and Nonforfeitability. A Participant’s interest in his Account which has become vested shall be nonforfeitable for any
reason. 
  

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 Section 10. Payment of Benefits. 
 10.1 Benefits for Participants. For a Participant whose Service ends for any reason, distribution will be made to or for the benefit of the
Participant or, in the case of the Participant’s death, his Beneficiary, by payment in a lump sum, in accordance with Section 10.2. A Participant may modify such an election at any time, provided any new benefit payment date is at least 30
days after a modified election is delivered to the Committee. Notwithstanding any provision to the contrary, if the value of a Participant’s vested Account balance at the time of any distribution does not exceed $1,000, then such
Participant’s vested Account shall be distributed in a lump sum within 60 days (or as soon as administratively feasible) after the end of the Plan Year in which employment terminates. If the value of a Participant’s vested Account balance
is in excess of $5,000, then his benefits shall not be paid prior to the later of the time he has attained Normal Retirement or age 62, unless he elects an early payment date in a written election filed with the Committee. Failure of a Participant
to consent to a distribution prior to the later of Normal Retirement or age 62 shall be deemed to be an election to defer commencement of payment of any benefit under this section. Notwithstanding the foregoing, in the event a distribution of more
than $1,000 but not exceeding $5,000 is made in accordance with the above without the Participant’s consent, then the Plan administrator shall pay the distribution in a direct rollover to an individual retirement plan designated by the Plan
administrator in accordance with Code Section 401(a)(31)(B) and the regulations promulgated thereunder. All distributions of $5,000 or less that are made pursuant to this Section without the Participant’s consent shall be made in cash.

 10.2 Time for Distribution. 
 10.2-1 If the Participant and, if applicable, with the consent of the Participant’s spouse, elects the distribution of the Participant’s Account balance in the Plan, distribution shall commence as soon as
practicable following his termination of Service, but no later than one year after the close of the Plan Year in which the Participant separates from service by reason of attainment of Normal Retirement Age under the Plan, Disability, or death.

 10.2-2 Unless the Participant elects otherwise, the distribution of the balance of a Participant’s Account shall
commence not later than the 60th day after the latest of the close of the Plan Year in which - 
 (i) the Participant attains
the age of 65; 
 (ii) occurs the tenth anniversary of the year in which the Participant commenced participation in the Plan;
or 
 (iii) the Participant terminates his Service with the Employer. 
 10.2-3 Notwithstanding anything to the contrary, (1) with respect to a 5-percent owner (as defined in Code Section 416),
distribution of a Participant’s Account shall commence (whether or not he remains in the employ of the Employer) not later than the April 1 of the calendar year next following the calendar year in which the Participant attains age 702, and
(2) with respect to all other Participants, payment of a Participant’s benefit will commence not later than April 1 of the calendar year following the calendar year in which the Participant attains age 702, or, if later, the year in
which the Participant retires. A Participant’s benefit from that portion of his Account committed to the Investment Fund shall be calculated on the basis of the most recent Valuation Date before the date of payment. 
  

 -22- 

 10.2-4 Distribution of a Participant’s Account balance after his death shall comply
with the following requirements: 
 (i) If a Participant dies before his distributions have commenced, distribution of his
Account to his Beneficiary shall commence not later than one year after the end of the Plan Year in which the Participant died; however, if the Participant’s Beneficiary is his surviving Spouse, distributions may commence on the date on which
the Participant would have attained age 702. In either case, distributions shall be completed within five years after they commence. 
 (ii) If the Participant dies after distribution has commenced pursuant to Section 10.1 but before his entire interest in the Plan has been distributed to him, then the remaining portion of that interest shall, in accordance with
Section 401(a)(9) of the Code, be distributed at least as rapidly as under the method of distribution being used under Section 10.1 at the date of his death. 
 (iii) If a married Participant dies before his benefit payments begin, then unless he has specifically elected otherwise, the Committee
shall cause the balance in his Account to be paid to his Spouse. No election by a married Participant of a different Beneficiary shall be valid unless the election is accompanied by the Spouse’s written consent, which (i) must acknowledge
the effect of the election, (ii) must explicitly provide either that the designated Beneficiary may not subsequently be changed by the Participant without the Spouse’s further consent, or that it may be changed without such consent, and
(iii) must be witnessed by the Committee, its representative, or a notary public. (This requirement shall not apply if the Participant establishes to the Committee’s satisfaction that the Spouse may not be located.) 
 10.2-5 All distributions under this section shall be determined and made in accordance with Code Section 401(a)(9) and final Treasury
Regulations Sections 1.401(a)(9)-1 through 1.401(a)(9)-9, including the minimum distribution incidental benefit requirements of Code Section 401(a)(9)(G). These provisions override any distribution options in the Plan inconsistent with Code
Section 401(a)(9). 
 10.3 Marital Status. The Committee, the Plan, the Trustee, and the Employers shall be fully
protected and discharged from any liability to the extent of any benefit payments made as a result of the Committee’s good faith and reasonable reliance upon information obtained from a Participant and his Employer as to his marital status.

 10.4 Delay in Benefit Determination. If the Committee is unable to determine the benefits payable to a Participant or
Beneficiary on or before the latest date prescribed for payment pursuant to Section 10.1 or 10.2, the benefits shall in any event be paid within 60 days after they can first be determined, with whatever makeup payments may be appropriate in
view of the delay. 
 10.5 Accounting for Benefit Payments. Any benefit payment shall be charged to the Participant’s
Account as of the first day of the Valuation Period in which the payment is made. 
 10.6 Options to Receive Stock. Unless
ownership of virtually all Stock is restricted to active Employees and qualified retirement plans for the benefit of Employees pursuant to the certificates of incorporation or by-laws of the Employers issuing Stock, a terminated Participant or the
Beneficiary of a deceased Participant may instruct the Committee to distribute the Participant’s entire vested interest in his Account in the form of Stock. In the event the Participant elects to receive all Stock, the Committee shall apply the
Participant’s vested interest in the Investment Fund to purchase sufficient Stock from the Stock Fund or from any owner of Stock to make the required distribution. In all other cases, other than as specifically set forth in Section 10.1,
the Participant’s vested interest in the Stock Fund shall be distributed in shares of Stock, and his vested interest in the Investment Fund shall be distributed in cash. 
  

 -23- 

 Any Participant who receives Stock pursuant to Section 10.1, and any person who has received Stock
from the Plan or from such a Participant by reason of the Participant’s death or incompetence, by reason of divorce or separation from the Participant, or by reason of a rollover contribution described in Section 402(a)(5) of the Code,
shall have the right to require the Employer which issued the Stock to purchase the Stock for its current fair market value (hereinafter referred to as the “put right”). The put right shall be exercisable by written notice to the Committee
during the first 60 days after the Stock is distributed by the Plan, and, if not exercised in that period, during the first 60 days in the following Plan Year after the Committee has communicated to the Participant its determination as to the
Stock’s current fair market value. However, the put right shall not apply to the extent that the Stock, at the time the put right would otherwise be exercisable, may be sold on an established market in accordance with federal and state
securities laws and regulations. Similarly, the put option shall not apply with respect to the portion of a Participant’s Account which the Employee elected to have reinvested under Code Section 401(a)(28)(B). If the put right is
exercised, the Trustee may, if so directed by the Committee in its sole discretion, assume the Employer’s rights and obligations with respect to purchasing the Stock. Notwithstanding anything herein to the contrary, in the case of a plan
established by a bank (as defined in Code Section 581), the put option shall not apply if prohibited by a federal or state law and Participants are entitled to elect their benefits be distributed in cash. 
 The Employer or the Trustee, as the case may be, may elect to pay for the Stock in equal periodic installments, not less frequently than annually, over a
period beginning not later than 30 days after the exercise of the put right and not exceeding five years, with adequate security and interest at a reasonable rate on the unpaid balance, all such terms to be set forth in a promissory note delivered
to the seller with normal terms as to acceleration upon any uncured default. 
 Nothing contained herein shall be deemed to obligate any
Employer to register any Stock under any federal or state securities law or to create or maintain a public market to facilitate the transfer or disposition of any Stock. The put right described herein may only be exercised by a person described in
the second preceding paragraph, and may not be transferred with any Stock to any other person. As to all Stock purchased by the Plan in exchange for any Stock Obligation, the put right shall be nonterminable. The put right for Stock acquired through
a Stock Obligation shall continue with respect to such Stock after the Stock Obligation is repaid or the Plan ceases to be an employee stock ownership plan. 
 10.7 Restrictions on Disposition of Stock. Except in the case of Stock which is traded on an established market, a Participant who receives Stock pursuant to Section 10.1, and any person who has
received Stock from the Plan or from such a Participant by reason of the Participant’s death or incompetence, by reason of divorce or separation from the Participant, or by reason of a rollover contribution described in Section 402(a)(5)
of the Code, shall, prior to any sale or other transfer of the Stock to any other person, first offer the Stock to the issuing Employer and to the Plan at the greater of (i) its current fair market value, or (ii) the purchase price offered
in good faith by an independent third party purchaser. This restriction shall apply to any transfer, whether voluntary, involuntary, or by operation of law, and whether for consideration or gratuitous. Either the Employer or the Trustee may accept
the offer within 14 days after it is delivered. Any Stock distributed by the Plan shall bear a conspicuous legend describing the right of first refusal under this Section 10.7, as well as any other restrictions upon the transfer of the Stock
imposed by federal and state securities laws and regulations. 
 10.8 Continuing Loan Provisions; Creations of Protections and
Rights. Except as otherwise provided in Sections 10.6 and 10.7 and this Section, no shares of Employer Stock held or distributed by the Trustee may be subject to a put, call or other option, or buy-sell arrangement. The provisions of this
Section shall continue to be applicable to such Stock even if the Plan ceases to be an employee stock ownership plan under Section 4975(e)(7) of the Code. 
  

 -24- 

 10.9 Direct Rollover of Eligible Distribution. A Participant or distributee may elect, at
the time and in the manner prescribed by the Trustee or the Committee, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the Participant or distributee in a direct rollover.

 10.9-1 An “eligible rollover” is any distribution that does not include: any distribution that is one of a series
of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the Participant and the Participant’s Beneficiary, or for
a specified period of ten years or more; any distribution to the extent such distribution is required under Code Section 401(a)(9); any hardship distribution described in Section 401(k)(2)(B)(i)(IV) of the Code; and the portion of any
distribution that is not included in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). A portion of a distribution shall not fail to be an eligible rollover distribution
merely because the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to an individual retirement account or annuity described in section 408(a) or (b) of
the Code, or to a qualified defined contribution plan described in section 401(a) or 403(a) of the Code that agrees to separately accounting for the portion of such distribution which is includible in gross income and the portion of such
distribution which is not so includible. 
 10.9-2 An “eligible retirement plan” is an individual retirement account
described in Code Section 408(a), an individual retirement annuity described in Code Section 408(b), an annuity plan described in Code Section 403(a), or a qualified trust described in Code Section 401(a), that accepts the
distributee’s eligible rollover distribution. An eligible retirement plan shall also include an annuity contract described in Section 403(b) of the Code and an eligible plan under Section 457(b) of the Code which is maintained by a
state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this Plan. In the case of an eligible rollover distribution to a surviving
Spouse, an eligible retirement plan is an individual retirement account or individual retirement annuity. 
 10.9-3 A
“direct rollover” is a payment by the Plan to the eligible retirement plan specified by the distributee. 
 10.9-4
The term “distributee” shall refer to a deceased Participant’s Spouse or a Participant’s former Spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p). 
 10.10 Waiver of 30-Day Period After Notice of Distribution. If a distribution is one to which Sections 401(a)(11) and 417 of the Code do
not apply, such distribution may commence less than 30 days after the notice required under Section 1.411(a)-11(c) of the Income Tax Regulations is given, provided that: 
 (i) the Trustee or Committee, as applicable, clearly informs the Participant that the Participant has a right to a period of at least 30
days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular option), and 
 (ii) the Participant, after receiving the notice, affirmatively elects a distribution. 
  

 -25- 

 Section 11. Rules Governing Benefit Claims and Review of Appeals. 
 11.1 Claim for Benefits. Any Participant or Beneficiary who qualifies for the payment of benefits shall file a claim for his benefits with
the Committee on a form provided by the Committee. The claim, including any election of an alternative benefit form, shall be filed at least 30 days before the date on which the benefits are to begin. If a Participant or Beneficiary fails to file a
claim by the day before the date on which benefits become payable, he shall be presumed to have filed a claim for payment for the Participant’s benefits in the standard form prescribed by Sections 10.1 or 10.2. 
 11.2 Notification by Committee. Within 90 days after receiving a claim for benefits (or within 180 days, if special circumstances require
an extension of time and written notice of the extension is given to the Participant or Beneficiary within 90 days after receiving the claim for benefits), the Committee shall notify the Participant or Beneficiary whether the claim has been approved
or denied. If the Committee denies a claim in any respect, the Committee shall set forth in a written notice to the Participant or Beneficiary: 
 (i) each specific reason for the denial; 
 (ii) specific references to the pertinent Plan
provisions on which the denial is based; 
 (iii) a description of any additional material or information which could be
submitted by the Participant or Beneficiary to support his claim, with an explanation of the relevance of such information; and 
 (iv) an explanation of the claims review procedures set forth in Section 11.3. 
 11.3 Claims Review Procedure.
Within 60 days after a Participant or Beneficiary receives notice from the Committee that his claim for benefits has been denied in any respect, he may file with the Committee a written notice of appeal setting forth his reasons for disputing the
Committee’s determination. In connection with his appeal the Participant or Beneficiary or his representative may inspect or purchase copies of pertinent documents and records to the extent not inconsistent with other Participants’
and Beneficiaries’ rights of privacy. Within 60 days after receiving a notice of appeal from a prior determination (or within 120 days, if special circumstances require an extension of time and written notice of the extension is given to the
Participant or Beneficiary and his representative within 60 days after receiving the notice of appeal), the Committee shall furnish to the Participant or Beneficiary and his representative, if any, a written statement of the Committee’s final
decision with respect to his claim, including the reasons for such decision and the particular Plan provisions upon which it is based. 
 Section 12.
The Committee and its Functions. 
 12.1 Authority of Committee. The Committee shall be the “plan
administrator” within the meaning of ERISA and shall have exclusive responsibility and authority to control and manage the operation and administration of the Plan, including the interpretation and application of its provisions, except to the
extent such responsibility and authority are otherwise specifically (i) allocated to the Bank, the Employers, or the Trustee under the Plan and Trust Agreement, (ii) delegated in writing to other persons by the Bank, the Employers, the
Committee, or the Trustee, or (iii) allocated to other parties by operation of law. The Committee shall have exclusive responsibility regarding decisions concerning the payment of benefits under the Plan. The Committee shall have no investment
responsibility with respect to the Investment Fund except to the extent, if any, specifically provided in the Trust Agreement. In the discharge of its duties, the Committee may employ accountants, actuaries, legal counsel, and other agents (who also
may be employed by an Employer or the Trustee in the same or some other capacity) and may pay their reasonable expenses and compensation. 
  

 -26- 

 12.2 Identity of Committee. The Committee shall consist of three or more individuals
selected by the Bank. Any individual, including a director, trustee, shareholder, officer, or Employee of an Employer, shall be eligible to serve as a member of the Committee. The Bank shall have the power to remove any individual serving on
the Committee at any time without cause upon 10 days written notice, and any individual may resign from the Committee at any time upon 10 days written notice to the Bank. The Bank shall notify the Trustee of any change in membership of the
Committee. 
 12.3 Duties of Committee. The Committee shall keep whatever records may be necessary to implement the Plan and
shall furnish whatever reports may be required from time to time by the Bank. The Committee shall furnish to the Trustee whatever information may be necessary to properly administer the Trust. The Committee shall see to the filing with the
appropriate government agencies of all reports and returns required of the Plan under ERISA and other laws. 
 Further, the Committee shall
have exclusive responsibility and authority with respect to the Plan’s holdings of Stock and shall direct the Trustee in all respects regarding the purchase, retention, sale, exchange, and pledge of Stock and the creation and satisfaction of
Stock Obligations. The Committee shall at all times act consistently with the Bank’s long-term intention that the Plan, as an employee stock ownership plan, be invested primarily in Stock. Subject to the direction of the board as to the
application of Employer contributions to Stock Obligations, and subject to the provisions of Sections 6.4 and 10.6 as to Participants’ rights under certain circumstances to have their Accounts invested in Stock or in assets other than Stock,
the Committee shall determine in its sole discretion the extent to which assets of the Trust shall be used to repay Stock Obligations, to purchase Stock, or to invest in other assets to be selected by the Trustee or an investment manager. No
provision of the Plan relating to the allocation or vesting of any interests in the Stock Fund or the Investment Fund shall restrict the Committee from changing any holdings of the Trust, whether the changes involve an increase or a decrease in the
Stock or other assets credited to Participants’ Accounts. In determining the proper extent of the Trust’s investment in Stock, the Committee shall be authorized to employ investment counsel, legal counsel, appraisers, and other agents and
to pay their reasonable expenses and compensation. 
 12.4 Valuation of Stock. If the valuation of any Stock is not established
by reported trading on a generally recognized public market, the valuation of such Stock shall be determined by an independent appraiser. For purposes of the preceding sentence, the term “independent appraiser” means any appraiser meeting
requirements similar to the requirements of the regulations prescribed under Section 170(a)(1) of the Code. 
 12.5 Compliance
with ERISA. The Committee shall perform all acts necessary to comply with ERISA. Each individual member or employee of the Committee shall discharge his duties in good faith and in accordance with the applicable requirements of ERISA.

 12.6 Action by Committee. All actions of the Committee shall be governed by the affirmative vote of a number of members
which is a majority of the total number of members currently appointed, including vacancies. 
 12.7 Execution of Documents.
Any instrument executed by the Committee shall be signed by any member or employee of the Committee. 
 12.8 Adoption of Rules.
The Committee shall adopt such rules and regulations of uniform applicability as it deems necessary or appropriate for the proper administration and interpretation of the Plan. 
 12.9 Responsibilities to Participants. The Committee shall determine which Employees qualify to enter the Plan. The Committee shall furnish
to each Eligible Employee whatever summary plan descriptions, 

  

 -27- 

 
summary annual reports, and other notices and information may be required under ERISA. The Committee also shall determine when a Participant or his
Beneficiary qualifies for the payment of benefits under the Plan. The Committee shall furnish to each such Participant or Beneficiary whatever information is required under ERISA (or is otherwise appropriate) to enable the Participant or Beneficiary
to make whatever elections may be available pursuant to Sections 6 and 10, and the Committee shall provide for the payment of benefits in the proper form and amount from the assets of the Trust Fund. The Committee may decide in its sole discretion
to permit modifications of elections and to defer or accelerate benefits to the extent consistent with applicable law and the best interests of the individuals concerned. 
 12.10 Alternative Payees in Event of Incapacity. If the Committee finds at any time that an individual qualifying for benefits under this Plan is a minor or is incompetent, the Committee may direct the
benefits to be paid, in the case of a minor, to his parents, his legal guardian, or a custodian for him under the Uniform Gifts to Minors Act, or, in the case of an incompetent, to his spouse, or his legal guardian, the payments to be used for the
individual’s benefit. The Committee and the Trustee shall not be obligated to inquire as to the actual use of the funds by the person receiving them under this Section 12.10, and any such payment shall completely discharge the obligations
of the Plan, the Trustee, the Committee, and the Employers to the extent of the payment. 
 12.11 Indemnification by Employers.
Except as separately agreed in writing, the Committee, and any member or employee of the Committee, shall be indemnified and held harmless by the Employer, jointly and severally, to the fullest extent permitted by ERISA, and subject to and
conditioned upon compliance with 12 C.F.R. Section 545.121, to the extent applicable, against any and all costs, damages, expenses, and liabilities reasonably incurred by or imposed upon it or him in connection with any claim made against it or
him or in which it or he may be involved by reason of its or his being, or having been, the Committee, or a member or employee of the Committee, to the extent such amounts are not paid by insurance. 
 12.12 Nonparticipation by Interested Member. Any member of the Committee who also is a Participant in the Plan shall take no part in any
determination specifically relating to his own participation or benefits, unless his abstention would leave the Committee incapable of acting on the matter. 
 Section 13. Adoption, Amendment, or Termination of the Plan. 
 13.1 Adoption of Plan by Other
Employers. With the consent of the Bank, any entity may become a participating Employer under the Plan by (i) taking such action as shall be necessary to adopt the Plan, (ii) becoming a party to the Trust Agreement establishing the
Trust Fund, and (iii) executing and delivering such instruments and taking such other action as may be necessary or desirable to put the Plan into effect with respect to the entity’s Employees. 
 13.2 Plan Adoption Subject to Qualification. Notwithstanding any other provision of the Plan, the adoption of the Plan and the execution of
the Trust Agreement are conditioned upon their being determined initially by the Internal Revenue Service to meet the qualification requirements of Section 401(a) of the Code, so that the Employers may deduct currently for federal income tax
purposes their contributions to the Trust and so that the Participants may exclude the contributions from their gross income and recognize income only when they receive benefits. In the event that this Plan is held by the Internal Revenue Service
not to qualify initially under Section 401(a), the Plan may be amended retroactively to the earliest date permitted by U.S. Treasury Regulations in order to secure qualification under Section 401(a). If this Plan is held by the Internal
Revenue Service not to qualify initially under Section 401(a) either as originally adopted or as amended, each Employer’s contributions to the Trust under this Plan (including any earnings thereon) shall be returned to it and this Plan
shall be terminated. In the event that this Plan is amended after its initial qualification and the Plan as amended is held by the Internal Revenue Service not to qualify under Section 401(a), the amendment may be modified retroactively to the
earliest date permitted by U.S. Treasury Regulations in order to secure approval of the amendment under Section 401(a). 
  

 -28- 

 13.3 Right to Amend or Terminate. The Bank intends to continue this Plan as a permanent
program. However, each participating Employer separately reserves the right to suspend, supersede, or terminate the Plan at any time and for any reason, as it applies to that Employer’s Employees, and the Bank reserves the right to amend,
suspend, supersede, merge, consolidate, or terminate the Plan at any time and for any reason, as it applies to the Employees of each Employer. No amendment, suspension, supersession, merger, consolidation, or termination of the Plan shall
(i) reduce any Participant’s or Beneficiary’s proportionate interest in the Trust Fund, (ii) reduce or restrict, either directly or indirectly, the benefit provided any Participant prior to the amendment, or (iii) divert any
portion of the Trust Fund to purposes other than the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan. Moreover, there shall not be any transfer of assets to a successor plan
or merger or consolidation with another plan unless, in the event of the termination of the successor plan or the surviving plan immediately following such transfer, merger, or consolidation, each participant or beneficiary would be entitled to a
benefit equal to or greater than the benefit he would have been entitled to if the plan in which he was previously a participant or beneficiary had terminated immediately prior to such transfer, merger, or consolidation. Following a termination of
this Plan by the Bank, the Trustee shall continue to administer the Trust and pay benefits in accordance with the Plan as amended from time to time and the Committee’s instructions. 
 Section 14. Miscellaneous Provisions. 
 14.1 Plan Creates No Employment
Rights. Nothing in this Plan shall be interpreted as giving any Employee the right to be retained as an Employee by an Employer, or as limiting or affecting the rights of an Employer to control its Employees or to terminate the Service of
any Employee at any time and for any reason, subject to any applicable employment or collective bargaining agreements. 
 14.2
Nonassignability of Benefits. No assignment, pledge, or other anticipation of benefits from the Plan will be permitted or recognized by the Employer, the Committee, or the Trustee. Moreover, benefits from the Plan shall not be subject
to attachment, garnishment, or other legal process for debts or liabilities of any Participant or Beneficiary, to the extent permitted by law. This prohibition on assignment or alienation shall apply to any judgment, decree, or order (including
approval of a property settlement agreement) which relates to the provision of child support, alimony, or property rights to a present or former spouse, child or other dependent of a Participant pursuant to a state domestic relations or community
property law, unless the judgment, decree, or order is determined by the Committee to be a qualified domestic relations order within the meaning of Section 414(p) of the Code, as more fully set forth in Section 14.12 hereof. 
 14.3 Limit of Employer Liability. The liability of the Employer with respect to Participants under this Plan shall be limited to making
contributions to the Trust from time to time, in accordance with Section 4. 
 14.4 Treatment of Expenses. All expenses
incurred by the Committee and the Trustee in connection with administering this Plan and Trust Fund shall be paid by the Trustee from the Trust Fund to the extent the expenses have not been paid or assumed by the Employer or by the Trustee. The
Committee may determine that, and shall inform the Trustee when, reasonable expenses may be charged directly to the Account or Accounts of a Participant or group of Participants to whom or for whose benefit such expenses are allocable, subject to
the guidelines set forth in Field Assistance Bulletin 2003-03, to the extent not superseded, or any successor directive issued by the Department of Labor. 
  

 -29- 

 14.5 Number and Gender. Any use of the singular shall be interpreted to include the plural,
and the plural the singular. Any use of the masculine, feminine, or neuter shall be interpreted to include the masculine, feminine, or neuter, as the context shall require. 
 14.6 Nondiversion of Assets. Except as provided in Sections 5.2 and 14.12, under no circumstances shall any portion of the Trust Fund be
diverted to or used for any purpose other than the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan. 
 14.7 Separability of Provisions. If any provision of this Plan is held to be invalid or unenforceable, the other provisions of the Plan
shall not be affected but shall be applied as if the invalid or unenforceable provision had not been included in the Plan. 
 14.8
Service of Process. The agent for the service of process upon the Plan shall be the president of the Bank, or such other person as may be designated from time to time by the Bank. 
 14.9 Governing State Law. This Plan shall be interpreted in accordance with the laws of the State of Indiana to the extent those laws are
applicable under the provisions of ERISA. 
 14.10 Employer Contributions Conditioned on Deductibility. Employer Contributions
to the Plan are conditioned on deductibility under Code Section 404. In the event that the Internal Revenue Service shall determine that all or any portion of an Employer Contribution is not deductible under that Section, the nondeductible
portion shall be returned to the Employer within one year of the disallowance of the deduction. 
 14.11 Unclaimed Accounts.
Neither the Employer nor the Trustees shall be under any obligation to search for, or ascertain the whereabouts of, any Participant or Beneficiary. The Employer or the Trustees, by certified or registered mail addressed to his last known address of
record with the Employer, shall notify any Participant or Beneficiary that he is entitled to a distribution under this Plan, and the notice shall quote the provisions of this Section. If the Participant or Beneficiary fails to claim his benefits or
make his whereabouts known in writing to the Employer or the Trustees within seven (7) calendar years after the date of notification, the benefits of the Participant or Beneficiary under the Plan will be disposed of as follows: 
 (i) If the whereabouts of the Participant is unknown but the whereabouts of the Participant’s Beneficiary is known to the Trustees,
distribution will be made to the Beneficiary. 
 (ii) If the whereabouts of the Participant and his Beneficiary are unknown to
the Trustees, the Plan will forfeit the benefit, provided that the benefit is subject to a claim for reinstatement if the Participant or Beneficiary make a claim for the forfeited benefit. 
 Any payment made pursuant to the power herein conferred upon the Trustees shall operate as a complete discharge of all obligations of the Trustees, to
the extent of the distributions so made. 
 14.12 Qualified Domestic Relations Order. Section 14.2 shall not apply to a
“qualified domestic relations order” defined in Code Section 414(p), and such other domestic relations orders permitted to be so treated under the provisions of the Retirement Equity Act of 1984. Further, to the extent provided under
a “qualified domestic relations order,” a former Spouse of a Participant shall be treated as the Spouse or surviving Spouse for all purposes under the Plan. 
  

 -30- 

 In the case of any domestic relations order received by the Plan: 
 (i) The Employer or the Committee shall promptly notify the Participant and any other alternate payee of the receipt of such order and the
Plan’s procedures for determining the qualified status of domestic relations orders, and 
 (ii) Within a reasonable
period after receipt of such order, the Employer or the Committee shall determine whether such order is a qualified domestic relations order and notify the Participant and each alternate payee of such determination. The Employer or the Committee
shall establish reasonable procedures to determine the qualified status of domestic relations orders and to administer distributions under such qualified orders. 
 During any period in which the issue of whether a domestic relations order is a qualified domestic relations order is being determined (by the Employer or Committee, by a court of competent jurisdiction, or
otherwise), the Employer or the Committee shall segregate in a separate account in the Plan or in an escrow account the amounts which would have been payable to the alternate payee during such period if the order had been determined to be a
qualified domestic relations order. If within eighteen (18) months the order (or modification thereof) is determined to be a qualified domestic relations order, the Employer or the Committee shall pay the segregated amounts (plus any interest
thereon) to the person or persons entitled thereto. If within eighteen (18) months it is determined that the order is not a qualified domestic relations order, or the issue as to whether such order is a qualified domestic relations order is not
resolved, then the Employer or the Committee shall pay the segregated amounts (plus any interest thereon) to the person or persons who would have been entitled to such amounts if there had been no order. Any determination that an order is a
qualified domestic relations order which is made after the close of the eighteen (18) month period shall be applied prospectively only. The term “alternate payee” means any Spouse, former Spouse, child or other dependent of a
Participant who is recognized by a domestic relations order as having a right to receive all, or a portion of, the benefit payable under a Plan with respect to such Participant. 
 Section 15. Top-Heavy Provisions. 
 15.1 Top-Heavy Plan. This Plan is
top-heavy if any of the following conditions exist: 
 (i) If the top-heavy ratio for this Plan exceeds sixty percent
(60%) and this Plan is not part of any required aggregation group or permissive aggregation group; 
 (ii) If this Plan
is a part of a required aggregation group (but is not part of a permissive aggregation group) and the aggregate top-heavy ratio for the group of Plans exceeds sixty percent (60%); or 
 (iii) If this Plan is a part of a required aggregation group and part of a permissive aggregation group and the aggregate top-heavy ratio
for the permissive aggregation group exceeds sixty percent (60%). 
 15.2 Super Top-Heavy Plan. This Plan will be a super
top-heavy Plan if any of the following conditions exist: 
 (i) If the top-heavy ratio for this Plan exceeds ninety percent
(90%) and this Plan is not part of any required aggregation group or permissive aggregation group. 
  

 -31- 

 (ii) If this Plan is a part of a required aggregation group (but is not part of a
permissive aggregation group) and the aggregate top-heavy ratio for the group of Plans exceeds ninety percent (90%), or 
 (iii) If this Plan is a part of a required aggregation group and part of a permissive aggregation group and the aggregate top-heavy ratio for the permissive aggregation group exceeds ninety percent (90%). 
 15.3 Definitions. 
 In making this determination, the Committee shall use the following definitions and principles: 
 15.3-1 The
“Determination Date,” with respect to the first Plan Year of any plan, means the last day of that Plan Year, and with respect to each subsequent Plan Year, means the last day of the preceding Plan Year. If any other plan has a
Determination Date which differs from this Plan’s Determination Date, the top-heaviness of this Plan shall be determined on the basis of the other plan’s Determination Date falling within the same calendar years as this Plan’s
Determination Date. 
 15.3-2 A “Key Employee” means any employee or former employee (including any deceased
employee) who at any time during the plan year that includes the determination date was an officer of the employer having annual compensation greater than $145,000 (as adjusted under section 416(i)(1) of the Code), a 5-percent owner of the employer,
or a 1-percent owner of the employer having annual compensation of more than $150,000. For this purpose, annual compensation means compensation within the meaning of section 415(c)(3) of the Code. The determination of who is a key employee will be
made in accordance with section 416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder. 
 15.3-3 A “Non-key Employee” means an Employee who at any time during the five years ending on the top-heavy Determination Date for the Plan Year has received compensation from an Employer and who has never
been a Key Employee, and the Beneficiary of any such Employee. 
 15.3-4 A “required aggregation group” includes
(a) each qualified Plan of the Employer in which at least one Key Employee participates in the Plan Year containing the Determination Date and (b) any other qualified Plan of the Employer which enables a Plan described in (a) to meet
the requirements of Code Sections 401(a)(4) or 410. For purposes of the preceding sentence, a qualified Plan of the Employer includes a terminated Plan maintained by the Employer within the period ending on the Determination Date. In the case of a
required aggregation group, each Plan in the group will be considered a top-heavy Plan if the required aggregation group is a top-heavy group. No Plan in the required aggregation group will be considered a top-heavy Plan if the required aggregation
group is not a top-heavy group. All Employers aggregated under Code Sections 414(b), (c) or (m) or (o) (but only after the Code Section 414(o) regulations become effective) are considered a single Employer. 
 15.3-5 A “permissive aggregation group” includes the required aggregation group of Plans plus any other qualified Plan(s) of the
Employer that are not required to be aggregated but which, when considered as a group with the required aggregation group, satisfy the requirements of Code Sections 401(a)(4) and 410 and are comparable to the Plans in the required aggregation group.
No Plan in the permissive aggregation group will be considered a top-heavy Plan if the permissive aggregation group is not a top-heavy group. Only a Plan that is part of the required aggregation group will be considered a top-heavy Plan if the
permissive aggregation group is top-heavy. 
  

 -32- 

 15.4 Top-Heavy Rules of Application. 
 For purposes of determining the value of Account balances and the present value of accrued benefits the following provisions shall apply:

 15.4-1 The value of Account balances and the present value of accrued benefits will be determined as of the most recent
Valuation Date that falls within or ends with the twelve (12) month period ending on the Determination Date. 
 15.4-2
For purposes of testing whether this Plan is top-heavy, the present value of an individual’s accrued benefits and an individual’s Account balances is counted only once each year. 
 15.4-3 The Account balances and accrued benefits of a Participant who is not presently a Key Employee but who was a Key Employee in a Plan
Year beginning on or after January 1, 1984 will be disregarded. 
 15.4-4 Employer contributions attributable to a salary
reduction or similar arrangement will be taken into account. Employer matching contributions also shall be taken into account for purposes of satisfying the minimum contribution requirements of Section 416(c)(2) of the Code and the Plan.

 15.4-5 When aggregating Plans, the value of Account balances and accrued benefits will be calculated with reference to the
Determination Dates that fall within the same calendar year. 
 15.4-6 The present values of accrued benefits and the amounts
of account balances of an employee as of the determination date shall be increased by the distributions made with respect to the employee under the plan and any plan aggregated with the plan under Section 416(g)(2) of the Code during the 1-year
period ending on the determination date. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the plan under Section 416(g)(2)(A)(i) of the Code. In
the case of a distribution made for a reason other than separation from service, death, or disability, this provision shall be applied by substituting “five (5) year period” for “one (1) year period.” 
 15.4-7 Accrued benefits and Account balances of an individual shall not be taken into account for purposes of determining the top-heavy
ratios if the individual has performed no services for the Employer during the one (1) year period ending on the applicable Determination Date. Compensation for purposes of this subparagraph shall not include any payments made to an individual
by the Employer pursuant to a qualified or non-qualified deferred compensation plan. 
 15.4-8 The present value of the
accrued benefits or the amount of the Account balances of any Employee participating in this Plan shall not include any rollover contributions or other transfers voluntarily initiated by the Employee except as described below. If this Plan transfers
or rolls over funds to another Plan in a transaction voluntarily initiated by the Employee, then this Plan shall count the distribution for purposes of determining Account balances or the present value of accrued benefits. A transfer incident to a
merger or consolidation of two or more Plans of the Employer (including Plans of related Employers treated as a single Employer under Code Section 414), or a transfer or rollover between Plans of the Employer, shall not be considered as
voluntarily initiated by the Employee. 
  

 -33- 

 15.5 Minimum Contributions. For any Top-Heavy Year, each Employer shall make a special
contribution on behalf of each Participant to the extent that the total allocations to his Account pursuant to Section 4 is less than the lesser of: 
 (i) three percent of his 415 Compensation for that year, or 
 (ii) the highest ratio of such
allocation to 415 Compensation received by any Key Employee for that year. For purposes of the special contribution of this Section 15.2, a Key Employee’s 415 Compensation shall include amounts the Key Employee elected to defer under
a qualified 401(k) arrangement. Such a special contribution shall be made on behalf of each Participant who is employed by an Employer on the last day of the Plan Year, regardless of the number of his Hours of Service, and shall be allocated to his
Account. 
 If the Employer maintains a qualified plan in addition to this Plan and more than one such plan is determined to be Top-Heavy, a
minimum contribution or a minimum benefit shall be provided in one of such other plans, including a plan that consists solely of a cash or deferred arrangement which meets the requirements of Section 401(k)(12) of the Code and matching
contributions with respect to which the requirements of Section 401(m)(11) of the Code are met. If the Employer has both a Top-Heavy defined benefit plan and a Top-Heavy defined contribution plan and a minimum contribution is to be provided
only in the defined contribution plan, then the sum of the Employer contributions and forfeitures allocated to the Account of each Non-key Employee shall be equal to at least five percent (5%) of such Non-key Employee’s 415 Compensation
for that year. 
 15.6 Top-Heavy Provisions Control in Top-Heavy Plan. In the event this Plan becomes top-heavy and a conflict
arises between the top-heavy provisions herein set forth and the remaining provisions set forth in this Plan, the top-heavy provisions shall control. 
  

 -34-Five Year Credit Agreement among American Standard Companies Inc.

 Exhibit 10.1 
 EXECUTION VERSION 
 FIVE-YEAR CREDIT AGREEMENT 
 dated as of 
 May 31, 2007 
 among 
 AMERICAN STANDARD COMPANIES INC. 
 AMERICAN STANDARD INC. 
 AMERICAN STANDARD
INTERNATIONAL INC. 
 The Borrowing Subsidiaries Party Hereto 
 The Lenders Party Hereto 
 and 
 JPMORGAN CHASE BANK, N.A., 
 as Administrative Agent, Issuing Bank and Swingline Lender 
 J.P. MORGAN EUROPE LIMITED, 
 as London Agent

 BANK OF AMERICA, N.A., 
 as
Syndication Agent 
 BNP PARIBAS 
 CITIBANK, N.A. 
 MIZUHO CORPORATE BANK, LTD., 
 as Documentation Agents 
  

  

			
	J.P. MORGAN SECURITIES, INC.	  	BANC OF AMERICA SECURITIES LLC

 As Lead Arrangers and Joint Bookrunners 
  

 TABLE OF CONTENTS 
  

			
	 	  	Page
		
	ARTICLE I	  	
		
	Definitions	  	
	 SECTION 1.01. Defined Terms
	  	2
	 SECTION 1.02. Classification of Loans and Borrowings
	  	25
	 SECTION 1.03. Terms Generally
	  	26
	 SECTION 1.04. Accounting Terms; GAAP
	  	26
	 SECTION 1.05. Exchange Rates
	  	27
		
	ARTICLE II	  	
		
	The Credits	  	
	 SECTION 2.01. Commitments
	  	27
	 SECTION 2.02. Loans and Borrowings
	  	28
	 SECTION 2.03. Requests for Revolving Borrowings
	  	29
	 SECTION 2.04. Competitive Bid Procedure
	  	30
	 SECTION 2.05. Letters of Credit
	  	32
	 SECTION 2.06. Swingline Loans
	  	36
	 SECTION 2.07. Funding of Borrowings
	  	38
	 SECTION 2.08. Interest Elections
	  	38
	 SECTION 2.09. Termination, Reduction and Increase of Commitments
	  	40
	 SECTION 2.10. Repayment of Loans; Evidence of Debt
	  	42
	 SECTION 2.11. Prepayment of Loans
	  	43
	 SECTION 2.12. Fees
	  	44
	 SECTION 2.13. Interest
	  	45
	 SECTION 2.14. Alternate Rate of Interest
	  	46
	 SECTION 2.15. Increased Costs
	  	47
	 SECTION 2.16. Break Funding Payments
	  	49
	 SECTION 2.17. Taxes
	  	49
	 SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	  	51
	 SECTION 2.19. Mitigation Obligations; Replacement of Lenders
	  	53
	 SECTION 2.20. Borrowing Subsidiaries
	  	54
	 SECTION 2.21. Additional Reserve Costs
	  	54
	 SECTION 2.22. Redenomination of Certain Designated Foreign Currencies
	  	55

  

 ii 

			
	ARTICLE III	  	
		
	Representations and Warranties	  	
	 SECTION 3.01. Organization and Qualification
	  	55
	 SECTION 3.02. Corporate Authority and Validity of Obligations
	  	56
	 SECTION 3.03. Margin Stock
	  	56
	 SECTION 3.04. Financial Reports
	  	56
	 SECTION 3.05. No Material Adverse Effect
	  	57
	 SECTION 3.06. Litigation
	  	57
	 SECTION 3.07. Tax Returns
	  	57
	 SECTION 3.08. Approvals
	  	57
	 SECTION 3.09. ERISA
	  	57
	 SECTION 3.10. Environmental Matters
	  	57
	 SECTION 3.11. Properties
	  	58
	 SECTION 3.12. Compliance with Laws
	  	58
	 SECTION 3.13. Investment and Holding Company Status
	  	58
	 SECTION 3.14. Disclosure
	  	58
		
	ARTICLE IV	  	
		
	Conditions	  	
	 SECTION 4.01. Effective Date
	  	59
	 SECTION 4.02. Each Borrowing
	  	60
	 SECTION 4.03. Initial Borrowing by each Borrowing Subsidiary
	  	61
		
	ARTICLE V	  	
		
	Affirmative Covenants	  	
	 SECTION 5.01. Corporate Existence
	  	61
	 SECTION 5.02. Maintenance of Properties
	  	61
	 SECTION 5.03. Taxes
	  	62
	 SECTION 5.04. Insurance
	  	62
	 SECTION 5.05. Financial Reports and Other Information
	  	62
	 SECTION 5.06. Books and Records; Inspection Rights
	  	64
	 SECTION 5.07. Compliance with Laws
	  	64
		
	ARTICLE VI	  	
		
	Negative Covenants	  	
	 SECTION 6.01. Liens
	  	65
	 SECTION 6.02. Subsidiary Indebtedness
	  	67
	 SECTION 6.03. Fundamental Changes
	  	68
	 SECTION 6.04. Use of Proceeds
	  	69
	 SECTION 6.05. Ratio of Consolidated Total Debt to Consolidated EBITDA
	  	69
	 SECTION 6.06. Ratio of Consolidated EBITDA to Consolidated Interest Expense
	  	69
	 SECTION 6.07. Liquidity
	  	69

  

 iii 

			
	ARTICLE VII	  	
		
	Events of Default	  	
		
	ARTICLE VIII	  	
		
	The Agents	  	
		
	ARTICLE IX	  	
		
	Guarantee	  	
		
	ARTICLE X	  	
		
	Miscellaneous	  	
	 SECTION 10.01. Notices
	  	76
	 SECTION 10.02. Waivers; Amendments
	  	77
	 SECTION 10.03. Expenses; Indemnity; Damage Waiver
	  	79
	 SECTION 10.04. Successors and Assigns
	  	81
	 SECTION 10.05. Survival
	  	84
	 SECTION 10.06. Counterparts; Integration; Effectiveness
	  	85
	 SECTION 10.07. Severability
	  	85
	 SECTION 10.08. Right of Setoff
	  	85
	 SECTION 10.09. Governing Law; Jurisdiction; Consent to Service of Process
	  	86
	 SECTION 10.10. WAIVER OF JURY TRIAL
	  	86
	 SECTION 10.11. Headings
	  	87
	 SECTION 10.12. Confidentiality
	  	87
	 SECTION 10.13. Interest Rate Limitation
	  	87
	 SECTION 10.14. Conversion of Currencies
	  	88
	 SECTION 10.15. Termination of Certain Covenants
	  	88
	 SECTION 10.16. USA Patriot Act
	  	89
	 SECTION 10.17. B&K Pledge Requirement
	  	89

 SCHEDULES 
  

					
	 Schedule 1.01
	  	—	  	Approved Issuing Bank Affiliates
	 Schedule 2.01
	  	—	  	Commitments
	 Schedule 2.05(j)
	  	—	  	Existing Letters of Credit
	 Schedule 2.18
	  	—	  	Payment Accounts
	 Schedule 3.06
	  	—	  	Litigation
	 Schedule 3.10
	  	—	  	Environmental Matters
	 Schedule 6.01
	  	—	  	Existing Liens
	 Schedule 6.02
	  	—	  	Existing Subsidiary Indebtedness

  

 iv 

 EXHIBITS: 
  

					
	 Exhibit A
	  	—	  	Form of Assignment and Assumption
	 Exhibit B-1
	  	—	  	Form of Borrowing Subsidiary Agreement
	 Exhibit B-2
	  	—	  	Form of Borrowing Subsidiary Termination
	 Exhibit C
	  	—	  	Reserve Costs
	 Exhibit D-1
	  	—	  	Form of Opinion of Mary Elizabeth Gustafsson, General Counsel
	 Exhibit D-2
	  	—	  	Form of Opinion of McDermott Will & Emery LLP, Counsel for the Borrowers
	 Exhibit E
	  	—	  	Form of Compliance Certificate
	 Exhibit F
	  	—	  	Form of Note

  

 v 

 FIVE-YEAR CREDIT AGREEMENT dated as of May 31, 2007, among AMERICAN STANDARD COMPANIES INC., a
Delaware corporation (“Holdings”); AMERICAN STANDARD INC., a Delaware corporation (the “Company”); AMERICAN STANDARD INTERNATIONAL INC., a Delaware corporation (“ASII”); the BORROWING SUBSIDIARIES
from time to time party hereto (the “Borrowing Subsidiaries”, and, together with the Company and ASII, the “Borrowers”); the LENDERS from time to time party hereto; JPMORGAN CHASE BANK, N.A., as Administrative
Agent, as Issuing Bank and as Swingline Lender; J.P. MORGAN EUROPE LIMITED, as London Agent; BANK OF AMERICA, N.A., as Syndication Agent; and BNP PARIBAS, CITIBANK, N.A., and MIZUHO CORPORATE BANK, LTD., as Documentation Agents. 
 The Borrowers have requested the Lenders (such term and each other capitalized term used and not otherwise defined herein having the meaning assigned to
it in Article I) to extend credit in the form of (a) Loans in US Dollars and one or more Designated Foreign Currencies in an aggregate principal amount at any one time outstanding not in excess of US$1,000,000,000, (b) Letters of Credit in
US Dollars, Sterling, Euro and Canadian Dollars in an aggregate stated amount at any time outstanding not in excess of US$250,000,000 and (c) Swingline Loans (i) to the Borrowers in US Dollars in an aggregate principal amount at any time
outstanding not in excess of US$75,000,000 (as such amount may be adjusted from time to time pursuant to Section 2.06(d)) and (ii) to the Borrowers in Sterling or Euro in an aggregate principal amount outstanding at any time not in excess
of (x) at any time prior to the Spin-Off, US$75,000,000 and (y) at any time on or after the Spin-Off, US$25,000,000 (in each case, as such amount may be adjusted from time to time pursuant to Section 2.06(d)). The Borrowers have also
requested the Lenders to provide a procedure pursuant to which the Borrowers may invite the Lenders to bid on an uncommitted basis on short-term Loans to the Borrowers. The proceeds of Borrowings hereunder on the Effective Date are to be used to
refinance existing Indebtedness of the Borrowers under the Existing Credit Agreement; proceeds of subsequent Borrowings hereunder, and the Letters of Credit issued hereunder, are to be used for working capital and for general corporate purposes
(including repayment of commercial paper and other Indebtedness, to the extent issued). 

 The Lenders are willing to establish the credit facilities referred to in the preceding paragraph upon
the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 
 ARTICLE I 
 Definitions 
 SECTION 1.01. Defined
Terms. As used in this Agreement, the following terms have the meanings specified below: 
 “ABR”, when used in
reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders hereunder, or any
successor thereto appointed in accordance with Article VIII. 
 “Administrative Questionnaire” means an Administrative
Questionnaire in a form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to a specified Person,
another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agents” means, collectively, the Administrative Agent and the London Agent. 
 “Agreement Currency” has the meaning assigned to such term in Section 10.14(b). 
 “Alternate Base Rate” means, for any day, a rate per annum equal to the greater of (a) the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day
plus  1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal
Funds Effective Rate shall be effective from and including the effective date of such change in the Prime Rate, or the Federal Funds Effective Rate, respectively. 
 “Applicable Agent” means (a) with respect to any Loan, Borrowing or Letter of Credit denominated in US Dollars, or with respect to any payment that does not relate to any particular Loan or
Borrowing, the Administrative Agent and (b) with respect to any Loan, Borrowing or Letter of Credit denominated in any Designated Foreign Currency, the London Agent. 
 “Applicable Creditor” has the meaning assigned to such term in Section 10.14(b). 
 “Applicable Percentage” means, with respect to any Lender, the percentage of the aggregate Commitments represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages
shall be determined based upon the Commitments most recently in effect, giving effect to any assignments. 
  

 2 

 “Applicable Rate” means, for any day, with respect to any Eurocurrency Revolving Loan or
with respect to the facility fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “Eurocurrency Spread” or “Facility Fee Rate”, as the case may be, based upon the Index
Ratings in effect on such date and the Utilization Percentage on such date: 
  

										
	 Index Ratings
 (Moody’s/S&P)
	  	 Eurocurrency
 Spread
	 	 	Facility Fee Rate	 
	  	Utilization Percentage
< 50%	 	 	Utilization Percentage
>50%	 	 
	 Category 1
 Baa1/BBB+ or higher
	  	0.260	%	 	0.310	%	 	0.090	%
	 Category 2
 Baa2/BBB
	  	0.350	%	 	0.400	%	 	0.100	%
	 Category 3
 Baa3/BBB-
	  	0.425	%	 	0.475	%	 	0.125	%
	 Category 4
 Ba1/BB+
	  	0.500	%	 	0.600	%	 	0.150	%
	 Category 5
 lower than Ba1/BB+
	  	0.700	%	 	0.800	%	 	0.200	%

 For purposes of the foregoing, (i) if either Moody’s or S&P shall not have in effect an Index Rating
as a result of any action or inaction on the part of Holdings or any Subsidiary, then such rating agency shall be deemed to have established an Index Rating in Category 5; (ii) if the Index Ratings established or deemed to have been established
by Moody’s and S&P shall fall within different Categories, the Applicable Rate shall be based on the higher of the two ratings unless one of the two ratings is two or more Categories lower than the other, in which case the Applicable Rate
shall be determined by reference to the Category next above that of the lower of the two ratings and (iii) if the Index Ratings established or deemed to have been established by Moody’s and S&P shall be changed (other than as a result
of a change in the rating system of Moody’s or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Rate shall apply during the period commencing
on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of Moody’s or S&P shall change, or if either such rating agency shall cease to be in the
business of rating corporate debt obligations, or if Moody’s or S&P shall not have in effect an Index Rating other than as a result of any action or inaction on the part of Holdings or any Subsidiary, the Borrower Agent and the
Administrative Agent, on behalf of the Lenders, shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such
amendment, the Applicable Rate shall be determined by reference to the rating most recently in effect prior to such change or cessation. 

 3 

 “ASII” has the meaning assigned to such term in the heading of this Agreement.

 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent
of any party whose consent is required by Section 10.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent and the Borrower Agent. 
 “Availability Period” means the period from and including the Effective Date to but excluding the earlier of the Maturity Date and the
date of termination of the Commitments. 
 “B&K Sale” means the sale by Holdings of its Bath and Kitchen division as
described in Holdings’ Form 10-K for the fiscal year ended December 31, 2006 filed with the SEC and subsequent filings with the SEC regarding such sale. 
 “Belgian Borrowing Subsidiary” means a Borrowing Subsidiary that is organized under the laws of Belgium or any political subdivision thereof. 
 “Belgian Lending Office” means, as to any Lender, the applicable branch, office or Affiliate of such Lender designated by such Lender to
make Loans in Euro and Sterling to the Belgian Borrowing Subsidiaries. 
 “Board” means the Board of Governors of the
Federal Reserve System of the United States of America. 
 “Borrower” means the Company, ASII or any Borrowing Subsidiary.

 “Borrower Agent” means Holdings, which for convenience shall act on behalf of the Borrowers for purposes of giving and
receiving certain notices and taking certain other actions as more fully set forth herein. 
 “Borrowing” means
(a) Revolving Loans of the same Type and currency made, converted or continued on the same date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect, (b) a Competitive Loan or group of Competitive Loans
of the same Type and currency made on the same date and as to which a single Interest Period is in effect or (c) a Swingline Loan. 
 “Borrowing Minimum” means (a) in the case of a Borrowing denominated in US Dollars, US$5,000,000 (or, in the case of a Swingline Borrowing, US$1,000,000) and (b) in the case of a Borrowing denominated in any
Designated Foreign Currency, the smallest integral multiple of 1,000,000 units (or, in the case of Sterling, 500,000 units) of such currency that has a US Dollar Equivalent at least equal to US$5,000,000. 
 “Borrowing Multiple” means (a) in the case of a Borrowing denominated in US Dollars, US$1,000,000 and (b) in the case of a
Borrowing denominated in any other currency, 1,000,000 units (or, in the case of Sterling, 500,000 units) of such currency. 
  

 4 

 “Borrowing Request” means a request by a Borrower for a Revolving Borrowing in
accordance with Section 2.03. 
 “Borrowing Subsidiary” means, at any time, each of the Subsidiaries that (a) is
named on the signature pages to this Agreement or (b) has been designated as a Borrowing Subsidiary by the Borrower Agent pursuant to Section 2.20, other than any such Subsidiary that has ceased to be a Borrowing Subsidiary as provided in
Section 2.20. 
 “Borrowing Subsidiary Agreement” means a Borrowing Subsidiary Agreement substantially in the form of
Exhibit B-1. 
 “Borrowing Subsidiary Termination” means a Borrowing Subsidiary Termination substantially in the form
of Exhibit B-2. 
 “Business Day” means any day that is not a Saturday or a Sunday; provided that (a) when
used in connection with a Loan or Letter of Credit denominated in US Dollars, the term “Business Day” shall also exclude any day on which commercial banks in New York City are authorized or required by law to remain closed;
(b) when used in connection with (i) a Eurocurrency Loan, (ii) a Fixed Rate Loan or Letter of Credit denominated in a Designated Foreign Currency or (iii) a Swingline Loan denominated in Sterling, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in deposits in the applicable currency in the London interbank market, (c) when used in connection with a Loan or Letter of Credit denominated in Euro (including
a Swingline Loan denominated in Euro), the term “Business Day” shall also exclude any day on which the TARGET payment system is not open for the settlement of payments in Euro and (d) when used in connection with a Eurocurrency
Loan, Fixed Rate Loan or Letter of Credit denominated in a Designated Foreign Currency other than Euro, the term “Business Day” shall also exclude any day on which banks are not open for dealings in deposits in the applicable
Designated Foreign Currency in the principal financial center of the country of such Designated Foreign Currency. 
 “Calculation
Date” means (a) the last Business Day of each calendar quarter and (b) solely with respect to any Designated Foreign Currency for a requested new Borrowing for which an Exchange Rate was not established on the immediately
preceding Calculation Date, the Business Day immediately preceding the date on which such Borrowing is to be made, provided that the Administrative Agent may in addition designate the last day of any other month as a Calculation Date if it
reasonably determines that there has been significant volatility in the foreign currency markets since the most recent Calculation Date. 
 “Canadian Dollars” or “C$” means the lawful money of Canada. 
  

 5 

 “Capital Lease”, as applied to any Person, means any lease of any property (whether
real, personal or mixed) by that Person as lessee which, in accordance with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person. 
 “Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal
property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP applied on a consistent basis and, for the purposes of this Agreement, the amount of
such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP applied on a consistent basis. 
 “Cash Pooling Arrangement” means an arrangement among a single depository institution and two or more Non-US Subsidiaries involving the pooling of cash deposits by such Non-US Subsidiaries for cash management purposes.

 A “Change in Control” shall be deemed to have occurred if at any time (a) any Person or group of Persons (within the
meaning of Section 13 or 14 of the Securities Exchange Act of 1934, as amended, or the rules of the SEC thereunder) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 of the SEC) of Equity Interests representing 50%
or more in voting power of the outstanding Voting Stock of Holdings, (b) a majority of the Board of Directors of Holdings shall at any time not consist of (i) individuals who shall have been members of the Board of Directors of Holdings on
the date hereof and (ii) individuals whose nomination or election to such Board of Directors shall have been recommended or approved by a vote of a majority of the members of such Board of Directors described in the preceding clause (i) or
in this clause (ii), or (c) either the Company or ASII (or the successor of either such corporation in a merger permitted under Section 6.03(a)(iii)) shall not be a Wholly Owned Subsidiary of Holdings. 
 “Change in Law” means (a) the adoption of any law, rule or regulation after the date of this Agreement, (b) any change in any
law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender or any Issuing Bank, or by any lending or issuing office of such Lender or
Issuing Bank or by such Lender’s or such Issuing Bank’s holding company, if any, with any request, guideline or directive of any Governmental Authority made or issued after the date of this Agreement, to the extent such request, guideline
or directive has the force of law or is of a type generally complied with by financial institutions under the jurisdiction of such Governmental Authority. 
 “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans, Competitive Loans or Swingline Loans. 
 “Class I Termination Condition” means that the Index Ratings shall be at least Baa2 and BBB, respectively. 
  

 6 

 “Class II Termination Condition” means that the Index Ratings shall be at least A3 and
A- , respectively. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 “Commitment” means, with respect to each Lender, the commitment of such Lender to make Revolving Loans pursuant to Section 2.01(a),
to acquire participations in Letters of Credit pursuant to Section 2.05 and to acquire participations in Swingline Loans pursuant to Section 2.06, expressed as an amount representing the maximum aggregate permitted amount of such
Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to assignments by or to such
Lender pursuant to Section 10.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The
aggregate amount of the Commitments on the date hereof is US$1,000,000,000. 
 “Company” has the meaning assigned to such
term in the heading of this Agreement. 
 “Competitive Bid” means an offer by a Lender to make a Competitive Loan in
accordance with Section 2.04. 
 “Competitive Bid Rate” means, with respect to any Competitive Bid, the Margin or the
Fixed Rate, as applicable, offered by the Lender making such Competitive Bid. 
 “Competitive Bid Request” means a request
by a Borrower for Competitive Bids in accordance with Section 2.04. 
 “Competitive Borrowing” means a Borrowing
comprised of Competitive Loans. 
 “Competitive Loan” means a Loan made pursuant to Section 2.04. 
 “Competitive Loan Exposure” means, with respect to any Lender at any time, the sum of (a) the aggregate principal amount of the
outstanding Competitive Loans of such Lender denominated in US Dollars and (b) the sum of the US Dollar Equivalents of the aggregate principal amounts of the outstanding Competitive Loans of such Lender denominated in Designated Foreign
Currencies. 
 “Consolidated EBITDA” means, for any period, Consolidated Net Income for such period plus (a) without
duplication and to the extent deducted in determining such Consolidated Net Income, the sum of (i) consolidated interest expense for such period, (ii) consolidated income tax expense for such period, (iii) all amounts attributable to
depreciation and amortization for such period, (iv) any extraordinary or non-recurring 

  

 7 

 
non-cash charges for such period related to plant closings or other restructurings of operations or to the writedown of assets, (v) fees and expenses
incurred in connection with the consummation of the Spin-Off and the B&K Sale in an aggregate amount not to exceed US$100,000,000, and (vi) cash payments or reserves for such period in respect of the EC Matter and minus (b) without
duplication and to the extent not deducted in determining such Consolidated Net Income, (i) extraordinary gains for such period and (ii) any amounts paid in cash in respect of extraordinary or non-recurring non-cash charges during any
earlier period related to plant closings or other restructurings of operations or to the writedown of assets, all determined on a consolidated basis in accordance with GAAP; provided that for any period including a fiscal quarter during which
an acquisition or a divestiture was consummated outside of the ordinary course of business or during which the Spin-Off was consummated, Consolidated EBITDA and the components thereof shall be determined on a pro forma basis as if such acquisition
or divestiture or the Spin-Off, as the case may be, had occurred at the beginning of such period. 
 “Consolidated Interest
Expense” means, with respect to any Person, for any period for which such amount is being determined, total interest expense (including that properly attributable to Capital Leases in accordance with GAAP and amortization of debt discount
and debt issuance costs) of such Person and its consolidated Subsidiaries, including all capitalized interest, all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financings and
net costs under interest rate protection agreements (including amortization of discount) all as determined on a consolidated basis in accordance with GAAP and, to the extent Consolidated EBITDA for any period is determined on a pro forma basis to
reflect an acquisition or divestiture out of the ordinary course of business or during which the Spin-Off was consummated, Consolidated Interest Expense shall be calculated on a pro forma basis as if such acquisition or divestiture or the Spin-Off,
as the case may be, had occurred at the beginning of such period. 
 “Consolidated Liquidity” means, on any date, the sum of
(a) the aggregate amount of unused Commitments under this Agreement plus the aggregate amount of unused commitments under the 364-Day Agreement plus the aggregate amount of unused commitments under any other committed credit facilities then
available (x) to Holdings or (y) to a Subsidiary, so long as Holdings is also a borrower thereunder, in each case on such date and (b) the difference between (i) the aggregate amount of Unrestricted Cash and Cash Equivalents
owned by Holdings and its Subsidiaries on such date, excluding, however, all cash and cash equivalents subject to agreements or other arrangements that restrict the use of such cash and cash equivalents in the business of Holdings and its
Subsidiaries and (ii) an amount equal to the aggregate Taxes that would become payable by Holdings and its Subsidiaries in the event such Unrestricted Cash and Cash Equivalents were repatriated to Holdings or a Subsidiary that is a US Person on
such date, as estimated in good faith by Holdings and certified by a Financial Officer of Holdings to the Administrative Agent. 
  

 8 

 “Consolidated Net Income” means, with respect to any Person, for any period, the net
income or loss of such Person and its consolidated Subsidiaries for such period determined on a consolidated basis in accordance with GAAP. 
 “Consolidated Net Tangible Assets” means, with respect to any Person, the aggregate amount of assets of such Person (less applicable reserves and other properly deductible items) after deducting therefrom (to the extent
otherwise included therein) (a) all current liabilities (other than Borrowings under this Agreement or current maturities of long-term Indebtedness), and (b) all goodwill, trade names, trademarks, patents, unamortized debt discount and
expense and other like intangibles, all as set forth on the books and records of such Person and its consolidated Subsidiaries and computed in accordance with GAAP. 
 “Consolidated Total Assets” means, with respect to any Person, the aggregate amount of assets of such Person (less applicable reserves and other properly deductible items). 
 “Consolidated Total Debt” means, for any Person, all Indebtedness of such Person and its consolidated Subsidiaries, determined on a
consolidated basis in accordance with GAAP. 
 “Control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Controlled Group” means all of a controlled group of corporations and all trades and businesses (whether or not
incorporated) under common control that, together with Holdings or any of the Subsidiaries, are treated as a single employer under Section 414 of the Code. 
 “Credit Documents” means this Agreement, each Borrowing Subsidiary Agreement, each Borrowing Subsidiary Termination, each Letter of Credit and each promissory note delivered pursuant to this
Agreement, as such documents may be amended, modified, supplemented or restated from time to time. 
 “Credit Event” means
each Borrowing and each issuance, extension or increase in the amount of any Letter of Credit. 
 “Credit Parties” means
Holdings, the Company, ASII and each Borrowing Subsidiary. 
 “Default” means any event or condition which constitutes an
Event of Default or which upon notice, lapse of time or both would become an Event of Default. 
 “Designated Foreign
Currency” means (a) Sterling, Euro, Canadian Dollars and any other currency that each of the Lenders, at the request of the Borrower Agent, shall have approved in writing as a Designated Foreign Currency and (b) any 

  

 9 

 
other currency specified by a Borrower in a notice to the Administrative Agent for a proposed Competitive Borrowing which, at the time such Borrowing is
made, is freely transferable and convertible into US Dollars in the London market and for which, at such time, LIBO Rates can be determined by reference to the Telerate screen as provided in the definition of “LIBO Rate”. 
 “Designated Obligations” means, in respect of this Agreement, all Obligations of the Credit Parties in respect of (a) principal of
and interest on the Loans, (b) payments required to be made hereunder in respect of Letters of Credit, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral and
(c) facility fees and Letter of Credit participation fees in respect of this Agreement, in each case regardless of whether then due and payable. The Designated Obligations owed to any Lender under this Agreement in respect of outstanding
Swingline Loans will consist of such Lender’s Swingline Exposure. 
 “Determination Date” has the meaning assigned to
such term in Section 6.07. 
 “EC Judgment” has the meaning assigned to such term in Section 5.05(h). 

“EC Matter” has the meaning assigned to such term in Section 3.12. 
 “EC Payment Date” means, with respect to any payment, posting of a bond or issuance of a letter of credit, in each case in respect of
any EC Judgment, the earlier to occur of (a) a date, if any, that Holdings and/or any of its Subsidiaries pays all or any portion of such EC Judgment, or causes a bond or letter of credit to be posted or issued on its behalf with respect to,
such EC Judgment and (b) a date that is the expiration of any period during which Holdings and/or any of its Subsidiaries is required to pay all or any portion of such EC Judgment, or to cause a bond or letter of credit to be posted or issued
on its behalf with respect to such EC Judgment. 
 “Effective Date” means the date on which the conditions specified in
Section 4.01 are satisfied (or waived in accordance with Section 10.02). 
 “EMU Legislation” means the
legislative measures of the European Union for the introduction of, changeover to or operation of the Euro in one or more member states. 
 “Environmental Laws” means all federal, state, local and foreign statutes, laws (including common law), regulations, ordinances, judgments, permits and other governmental rules or restrictions relating to human health,
safety (including occupational safety and health standards), and protection of the environment or to emissions, discharges or releases of pollutants, contaminants, hazardous substances or wastes into the environment, including ambient air, surface
or ground water, or land, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, hazardous substances or wastes or the cleanup or other remediation
thereof. 
  

 10 

 “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of Holdings or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Laws, (b) the generation,
use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any
contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
 “Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any
warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interests. 
 “ERISA”
has the meaning assigned to such term in Section 3.09. 
 “Euro” or “€” means the single currency of the
European Union as constituted by the Treaty on European Union and as referred to in the EMU Legislation. 
 “Eurocurrency”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the LIBO Rate. 
 “Event of Default” has the meaning assigned to such term in Article VII. 
 “Exchange Rate” means on any day, for purposes of determining the US Dollar Equivalent of any other currency, the rate at which such
other currency may be exchanged into US Dollars, as set forth at approximately 11:00 a.m., London time, on such day on the Reuters World Currency Page for such currency. In the event that such rate does not appear on any Reuters World Currency
Page, the Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Borrower Agent, or, in the absence of such an agreement, such
Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the Administrative Agent in the market where its foreign currency exchange operations in respect of such currency are then being conducted, at or about
10:00 a.m., Local Time, on such date for the purchase of US Dollars for delivery two Business Days later; provided that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent
may use any reasonable method it deems appropriate to determine such rate, and such determination shall be presumed correct in the absence of facts or circumstances indicating that it has been made in error. 
 “Excluded Taxes” means, with respect to any Agent, the Issuing Bank, any Lender or any other recipient of any payment to be made by or
on account of any obligation of any Credit Party hereunder or under any other Credit Document, (a) income, franchise or similar taxes (i) imposed on (or measured by) its net income by the 

  

 11 

 
United States of America, or by the jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the
case of any Lender, in which its applicable lending office is located or (ii) imposed as a result of a present or former connection between such recipient and the jurisdiction of the Governmental Authority imposing such tax or any political
subdivision or taxing authority thereof or therein (other than any such connection arising solely from such recipient’s having executed, delivered or performed its obligations or received a payment under, or enforced, any Credit Document),
(b) any branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction described in clause (a) above, (c) in the case of any Lender, any withholding tax imposed by the
United States of America that is in effect and would apply (assuming the taking by the applicable Borrower of all actions necessary in order for any available exemption from such tax to be effective) to amounts payable by a US Borrower
from an office within the United States of America to a US Lending Office of such Lender at the time such Lender becomes a Lender under this Agreement (or designates such US Lending Office), (d) in the case of any Lender, any withholding
tax imposed by the United Kingdom (or any political subdivision thereof) that is in effect and would apply (assuming the taking by the applicable Borrower of all actions necessary in order for any available exemption from such tax to be effective)
to amounts payable by a UK Borrowing Subsidiary from an office within the United Kingdom to a UK Lending Office of such Lender at the time such Lender becomes a Lender under this Agreement (or designates such UK Lending Office), (e) in the case
of any Lender, any withholding tax imposed by Belgium (or any political subdivision thereof) that is in effect and would apply (assuming the taking by the applicable Borrower of all actions necessary in order for any available exemption from such
tax to be effective) to amounts payable by a Belgian Borrowing Subsidiary from an office within Belgium to a Belgian Lending Office of such Lender at the time such Lender becomes a Lender under this Agreement (or designates such Belgian Lending
Office), and (f) in the case of any Lender, any withholding tax that is attributable to such Lender’s failure to comply with Section 2.17(e); provided that in the case of clauses (c), (d) and (e) above, no withholding
tax shall be an Excluded Tax if and to the extent that a Lender (or its assignor, if any) shall have been entitled, at the time it designates a new lending office (or at the time it acquires any rights hereunder by assignment), to receive additional
amounts with respect to such withholding tax pursuant to Section 2.17. 
 “Existing Credit Agreement” means the
Five-Year Credit Agreement dated as of July 7, 2005, as amended, among Holdings, the Company, ASII, the borrowing subsidiaries party thereto, the lenders party thereto and the agents party thereto. 
 “Existing Letters of Credit” means the Letters of Credit listed in Schedule 2.05(j). 
 “Existing Receivables Programs” means the programs in effect on the date hereof under which the Company or any Subsidiary receives
payment in respect of customers’ receivables from a finance company or otherwise transfers or finances its accounts receivable to or with another party, and shall include (i) the securitization of certain U.S. receivables pursuant to the
Receivables Interest Purchase Agreement dated 

  

 12 

 
as of September 11, 2002 among ASI Receivables Funding LLC as Seller, Corporate Asset Funding Company Inc. as Investor, Citibank as Bank, Citicorp North
America, Inc. and American Standard Inc. as Collection Agent and Originator, as amended, and the Purchase and Contribution Agreement dated as of September 11, 2002 between American Standard Inc. as Seller and ASI Receivables Funding LLC as
Purchaser, as amended, and (ii) the securitization of certain non-U.S. receivables pursuant to the Receivables Purchase Agreement between Tulip Asset Purchase Company B.V., as Onward Purchaser, and Ideal Funding BVBA, as Purchaser, dated as of
May 3, 2002, and documents related thereto, as such may be amended, and (iii) any and all successor programs to any of the foregoing. 
 “Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve
System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
 “Financial Officer” means the chief financial officer, principal accounting officer, treasurer, assistant treasurer or controller of
Holdings, the Company or ASII, as applicable. 
 “Fixed Rate” means, with respect to any Competitive Loan (other than a
Eurocurrency Competitive Loan), the fixed rate of interest per annum specified by the Lender making such Competitive Loan in its related Competitive Bid. 
 “Fixed Rate Loan” means a Competitive Loan bearing interest at a Fixed Rate. 
 “Foreign Lender” means, as to any Borrower, any Lender that is organized under the laws of a jurisdiction other than that in which such Borrower is located. For purposes of this definition, the United States of America,
each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 
 “Form 10” means the
Form 10 filed by WABCO with the Securities and Exchange Commission on February 26, 2007 relating to the Spin-Off and any amendments thereto. 
 “GAAP” means generally accepted accounting principles in the United States of America. 
 “Governmental
Authority” means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 
  

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 “Guarantee” of or by any person means any obligation, contingent or otherwise, of such
person guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such person, direct or indirect,
(a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness, (b) to purchase
property, securities or services for the purpose of assuring the owner of such Indebtedness of the payment of such Indebtedness or (c) to maintain working capital, equity capital or other financial statement condition or liquidity of the
primary obligor so as to enable the primary obligor to pay such Indebtedness; provided, however, that the term Guarantee shall not include endorsements for collection or deposit, in either case in the ordinary course of business. The amount
of any Guarantee shall be deemed to equal the stated or determinable amount of the primary obligation in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof
(assuming such person is required to perform thereunder); provided, however, that the amount of any Guarantee that, by its terms, limits the amount payable thereunder to a stated or determinable amount shall not exceed such stated or
determinable amount. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or
toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any
nature regulated pursuant to any Environmental Laws. 
 “Hedging Agreement” means any interest rate protection agreement,
foreign currency exchange agreement, currency swap agreement or other interest or currency exchange rate hedging arrangement. The “principal amount” of any Hedging Agreement of Holdings or any Subsidiary at any time shall be deemed to be
the aggregate amount at such time of the payments that would be required to be made by Holdings or such Subsidiary in the event of any early termination at such time of such Hedging Agreement. 
 “Holdings” has the meaning assigned to such term in the heading of this Agreement. 
 “Immaterial Subsidiary” means any Subsidiary that is not a Material Subsidiary. 
 “Incur” means create, incur, assume, Guarantee or otherwise become responsible for, and “Incurred” and
“Incurrence” shall have correlative meanings. 
 “Indebtedness” of any person means, without duplication,
(a) all obligations of such person for money borrowed or raised (excluding all Securitization Transactions that are accounted for as true sales of accounts receivable and not as liabilities on the consolidated balance sheets of Holdings, but
including Securitization Transactions accounted for as liabilities on the consolidated balance sheets of Holdings), 

  

 14 

 
(b) all obligations of such person (other than accounts payable and other similar items arising in the ordinary course of business) for the deferred
payment of the purchase price of property or services which would appear as liabilities on a balance sheet of such person, (c) all Capital Lease Obligations of such person, (d) all Guarantees by such person of obligations of others that
otherwise constitute Indebtedness and (e) all obligations (contingent or otherwise) of such person as an account party in respect of letters of credit issued to secure payment obligations that otherwise constitute Indebtedness. 
 “Indemnified Taxes” means Taxes other than Excluded Taxes. 
 “Indentures” means (a) the indenture, dated as of April 1, 2005 and (b) the indenture, dated as of January 15, 1998,
in each case between the Company, as issuer, and The Bank of New York, as trustee, and indentures supplemental thereto. 
 “Index
Ratings” means the public ratings by Moody’s and S&P of the Company’s senior, unsecured, non-credit enhanced long-term Indebtedness for borrowed money. 
 “Information Memorandum” means the Confidential Information Memorandum dated April 2007 relating to Holdings, the Company, ASII and the
Transactions. 
 “Interest Election Request” means a request by a Borrower to convert or continue a Revolving Borrowing in
accordance with Section 2.08. 
 “Interest Payment Date” means (a) with respect to any ABR Loan (other than a
Swingline Loan), the last day of each March, June, September and December, (b) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a
Eurocurrency Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period,
(c) with respect to any Fixed Rate Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Fixed Rate Borrowing with an Interest Period of more than 90 days’ duration
(unless otherwise specified in the applicable Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates
that are specified in the applicable Competitive Bid Request as Interest Payment Dates with respect to such Borrowing and (d) with respect to any Swingline Loan, the day that such Loan is required to be repaid. 
 “Interest Period” means (a) with respect to any Eurocurrency Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day in the calendar month that is one, two, three, six, or, if available from time to time from all of the Lenders, twelve months thereafter, as the applicable Borrower may elect, and (b) with
respect to any Fixed Rate Borrowing, the period (which shall not be less than 7 days or more than 360 days) commencing on the date of such Borrowing 

  

 15 

 
and ending on the date specified in the applicable Competitive Bid Request; provided, that (i) if any Interest Period would end on a day other
than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurocurrency Borrowing only, such next succeeding Business Day would fall in the next calendar month, in which case such
Interest Period shall end on the next preceding Business Day and (ii) any Interest Period pertaining to a Eurocurrency Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such
Borrowing is made and, in the case of a Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 
 “Issuing Bank” means JPMorgan Chase Bank, N.A. and any one or more other Lenders designated in writing by the Borrower Agent in a notice delivered to the Administrative Agent, and their respective
successors in such capacity; provided that such other Lender shall have consented to such designation. The Issuing Banks may, in their respective discretion, arrange for one or more Letters of Credit to be issued by Affiliates of such Issuing
Banks listed in Schedule 1.01 or approved by the Borrower Agent (such approval not to be unreasonably withheld), in which case the term “Issuing Bank” shall include any such Affiliates with respect to Letters of Credit issued by such
Affiliates. 
 “JPMEL” means J.P. Morgan Europe Limited and its successors. 
 “JPMCB” means JPMorgan Chase Bank, N.A. and its successors. 
 “Judgment Currency” has the meaning assigned to such term in Section 10.14(b). 
 “LC Disbursement” means a payment made by any Issuing Bank in respect of a Letter of Credit. 
 “LC Exposure” means at any time the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit denominated in US
Dollars at such time, (b) the aggregate of the US Dollar Equivalents of the undrawn amounts of all outstanding Letters of Credit denominated in Sterling, Euro or Canadian Dollars at such time, (c) the aggregate amount of all LC
Disbursements denominated in US Dollars that have not yet been reimbursed by or on behalf of the Borrowers at such time and (d) the aggregate of the US Dollar Equivalents of the amounts of all LC Disbursements denominated in Sterling, Euro or
Canadian Dollars that have not yet been reimbursed by or on behalf of the Borrowers at such time. The LC Exposure of any Lender at any time shall be such Lender’s Applicable Percentage of the aggregate LC Exposure. 
 “Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an
Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Except to the extent otherwise expressly provided for herein, the term “Lenders” includes the Swingline
Lender. 
  

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 “Letter of Credit” means any letter of credit issued pursuant to Section 2.05(a).

 “LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, (a) the rate per annum
appearing under the British Bankers’ Association Interest Settlement Rates for deposits in the currency of such Borrowing at approximately 11:00 a.m., London time, on the Quotation Day for such Interest Period, as reflected on the
applicable Telerate screen page, for a period equal to such Interest Period (or, if an interest rate is not ascertainable pursuant to the foregoing provisions of this definition, the average (rounded upward, if necessary, to the next 1/100 of 1%) of
the respective interest rates per annum at which deposits in the currency of such Borrowing are offered for such Interest Period to major banks in the London interbank market by JPMCB at approximately 11:00 a.m., London time, on the Quotation
Day for such Interest Period), multiplied by (b) the Statutory Reserve Rate applicable to such Eurocurrency Borrowing; provided that for purposes of determining the interest rate applicable to any Eurocurrency Competitive Borrowing, the
LIBO Rate shall be the rate determined pursuant to the foregoing clause (a) without giving effect to clause (b). 
 “Liquidity
Determination Date” means a date which is four Business Days prior to any EC Payment Date. 
 “Lien” means, with
respect to any asset, (a) any mortgage, deed of trust, lien, pledge, encumbrance, charge or security interest in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement relating to such asset. 
 “Loans” means the loans made by the Lenders to the Borrowers pursuant to this
Agreement. 
 “Local Time” means (a) with respect to a Loan, Borrowing or Letter of Credit denominated in US Dollars,
New York City time and (b) with respect to a Loan, Borrowing or Letter of Credit denominated in any Designated Foreign Currency, London time. 
 “London Agent” means JPMEL, in its capacity as London agent for the Lenders hereunder, or any successor thereto appointed in accordance with Article VIII. 
 “Margin” means, with respect to any Competitive Loan bearing interest at a rate based on the LIBO Rate, the marginal rate of interest,
if any, to be added to or subtracted from the LIBO Rate to determine the rate of interest applicable to such Loan, as specified by the Lender making such Loan in its related Competitive Bid. 
 “Margin Stock” means “margin stock” as defined in Regulation U of the Board of Governors of the Federal Reserve System.

  

 17 

 “Material Adverse Effect” means any event or condition not disclosed in writing to the
Lenders or in reports filed by Holdings with the SEC under the Securities Exchange Act of 1934, in each case prior to the date of this Agreement that (a) has resulted or could reasonably be expected to result in a material adverse change
in the business, assets, operations or financial condition of Holdings and the Subsidiaries taken as a whole or (b) has materially impaired or could reasonably be expected to materially impair the ability of the Credit Parties to perform any of
their obligations under this Agreement or the other Credit Documents, it being understood that neither the B&K Sale nor the Spin-Off shall be deemed to constitute a Material Adverse Effect. 
 “Material Indebtedness” means Indebtedness (other than the Loans and Letters of Credit and Indebtedness owed to Holdings or any
Subsidiary), or obligations in respect of one or more Hedging Agreements, of any one or more of Holdings and the Subsidiaries in an aggregate principal amount greater than US$75,000,000. 
 “Material Subsidiary” means, at any time, (a) the Company, (b) ASII, (c) each Borrowing Subsidiary and (d) each
other Subsidiary exclusive of Subsidiaries that, together with their own subsidiaries, shall have accounted for less than 5% for any such Subsidiary, or 15% in the aggregate for all such Subsidiaries of Consolidated EBITDA for the period of four
fiscal quarters most recently ended. For purposes of making the determinations required by clause (d) of this definition, the components of Consolidated EBITDA of Non-US Subsidiaries shall be converted into US Dollars at the rates used in
preparing the consolidated balance sheets of Holdings included in the applicable financial statements referred to in Section 3.04 or delivered pursuant to Section 5.05. 
 “Maturity Date” means the fifth anniversary of the date of this Agreement. 
 “Moody’s” means Moody’s Investors Service, Inc. 
 “Non-US Lending Office” means, as to any Lender, any applicable branch, office or Affiliate of such Lender designated by such Lender to make Loans in Designated Foreign Currencies. A Lender may
designate multiple Non-US Lending Offices for Loans to different Borrowers or in different Designated Foreign Currencies; provided that (i) each Lender shall be deemed to have designated its UK Lending Offices as its Non-US Lending
Offices for all Loans in Euro or Sterling (other than any such Loan by a Lender to a Belgian Borrowing Subsidiary) and (ii) each Lender shall be deemed to have designated its Belgian Lending Office as its Non-US Lending Office for all Loans in
Designated Foreign Currencies to the Belgian Borrowing Subsidiaries. 
 “Non-US Subsidiary” means a Subsidiary that is not a
US Subsidiary. 
 “Obligations” means (a) the principal of and interest (including interest accruing during the
pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates 

  

 18 

 
set for prepayment or otherwise, (b) each payment required to be made by any Borrower under this Agreement in respect of any Letter of Credit when and
as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral and (c) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary,
secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding),
of any Credit Party under this Agreement or any other Credit Document. 
 “Other Taxes” means any and all present or future
recording, stamp, documentary, excise, transfer, sales, property or similar taxes, charges or levies arising from any payment made under any Credit Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Credit
Document. 
 “PBGC” has the meaning assigned to such term in Section 3.09. 
 “Permitted Encumbrances” means: 
 (a) Liens for taxes, assessments or governmental charges or claims that are not yet due and payable or are being contested in compliance with Section 5.03; 
 (b) statutory Liens of landlords, carriers, warehousemen, mechanics, materialmen and suppliers, in each case incurred in the ordinary
course of business for sums not yet delinquent or being contested in good faith; 
 (c) Liens incurred or deposits made in the
ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security programs, or to secure the performance of tenders, statutory obligations, bids, leases, government contracts, performance and
return-of-money bonds and other similar obligations (other than obligations for the payment of borrowed money); 
 (d) leases
or subleases granted to others (other than as security for Indebtedness) not interfering in any material respect with the business of Holdings or any Subsidiary; 
 (e) easements, rights-of-way, restrictions, minor defects or irregularities in title and other similar charges or encumbrances not
interfering in any material respect with the ordinary conduct of the business of Holdings or any Subsidiary; 
 (f) any
interest or title of a lessor under any lease other than a Capital Lease or a lease entered into as part of a Sale and Leaseback Transaction; 
 (g) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; 
  

 19 

 (h) deed restrictions to ensure non-disturbance of legally permitted, permanent on-site
waste storage/ treatment facilities; and 
 (i) normal and customary rights of setoff upon deposits of cash in favor of
banks or other depository institutions. 
 “Person” means any natural person, corporation, limited liability company, trust,
joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means, for Holdings and
each Subsidiary at any time, an employee pension benefit plan which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code and either (a) is maintained by a member of the Controlled
Group for employees of a member of the Controlled Group, (b) is maintained pursuant to a collective bargaining agreement or any other arrangement under which more than one employer makes contributions and to which a member of the Controlled
Group is then making or accruing an obligation to make contributions or has within the preceding five plan years made contributions, or (c) under which a member of the Controlled Group has any liability, including any liability by reason of
having been a substantial employer within the meaning of Section 4063 of ERISA at any time during the preceding five years or by reason of being deemed a contributing sponsor under Section 4069 of ERISA. 
 “Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMCB as its prime rate in effect at its
principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 
 “Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible, whether now owned or hereafter acquired. 
 “Quotation Day” means, with respect to any Eurocurrency Borrowing and any Interest Period, the day on which it is market practice in the
relevant interbank market for prime banks to give quotations for deposits in the currency of such Borrowing for delivery on the first day of such Interest Period. If such quotations would normally be given by prime banks on more than one day, the
Quotation Day will be the last of such days. 
 “Register” has the meaning set forth in Section 10.04. 
 “Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers,
employees and agents of such Person and such Person’s Affiliates. 
 “Required Lenders” means, at any time, Lenders
having Revolving Credit Exposures and unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time; provided that, for all 

  

 20 

 
purposes after the Loans become due and payable pursuant to Article VII or the Commitments expire or terminate, “Required Lenders” will
mean, at any time, Lenders having Revolving Credit Exposures and outstanding Competitive Loan Exposures representing more than 50% of the sum of the total Revolving Credit Exposures and outstanding Competitive Loan Exposures at such time.

 “Reset Date” has the meaning assigned to such term in Section 1.05. 
 “Revolving Borrowing” means a Borrowing comprised of Revolving Loans. 
 “Revolving Credit Exposure” means, at any time, the sum at such time, without duplication, of (a) the aggregate principal amount of
the Revolving Loans denominated in US Dollars outstanding at such time, (b) the aggregate amount of the US Dollar Equivalents of the principal amounts of the Revolving Loans denominated in Designated Foreign Currencies outstanding at such time,
(c) the aggregate LC Exposure at such time and (d) the aggregate Swingline Exposure at such time. The Revolving Credit Exposure of any Lender at any time shall be such Lender’s Applicable Percentage of the total Revolving Credit
Exposure at such time. 
 “Revolving Loan” means a Loan made by a Lender pursuant to Section 2.01(a) and 2.03. Each
Revolving Loan denominated in US Dollars shall be a Eurocurrency Loan or an ABR Loan. Each Revolving Loan denominated in a Designated Foreign Currency shall be a Eurocurrency Loan. 
 “Sale-Leaseback Transaction” means any arrangement whereby Holdings or a Subsidiary shall sell or transfer any property, real or
personal, used or useful in its business, whether now owner or hereinafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or purposes as the property sold or
transferred; provided that any such arrangement entered into within 180 days after the acquisition, construction or substantial improvement of the subject property shall not be deemed to be a “Sale-Leaseback Transaction”.

 “SEC” means the United States Securities and Exchange Commission or any successor Governmental Authority. 
 “Securitization Transaction” means (a) any transfer of accounts receivable or interests therein (i) to a trust, partnership,
corporation or other entity (other than a Subsidiary), which transfer or pledge is funded by such entity in whole or in part by the issuance to one or more lenders or investors of indebtedness or other securities that are to receive payments
principally from the cash flow derived from such accounts receivable or interests in accounts receivable, or (ii) directly to one or more investors or other purchasers (other than any Subsidiary), or (b) any transaction in which Holdings
or a Subsidiary Incurs Indebtedness or other obligations secured by Liens on accounts receivable. The “amount” of any Securitization Transaction shall be deemed at any time to be (A) in the case of a transaction described in clause
(a) of the preceding sentence, the aggregate uncollected amount of the accounts receivable transferred pursuant to such 

  

 21 

 
Securitization Transaction, net of any such accounts receivable that have been written off as uncollectible, and (B) in the case of a transaction
described in clause (b) of the preceding sentence, the aggregate outstanding principal amount of the Indebtedness secured by Liens on accounts receivable Incurred pursuant to such Securitization Transaction or, if less, the aggregate
uncollected amount of the accounts receivable subject to such Liens. Securitizations will include any such transfer or transactions pursuant to the Existing Receivables Programs. For purposes of this Agreement (including Sections 6.01(j) and
(k)), accounts receivable shall include any and all payments owing to Holdings or any Subsidiary by any and all obligors (including obligors which are federal, state or local governments or governmental agencies) under long term contracts (including
long term energy savings performance contracts and related task or delivery orders) in respect of goods or other property sold or leased or services rendered. 
 “Spin-Off” means the distribution on a pro rata basis to Holdings’ shareholders in a tax-free transaction, on the terms described in the Form 10, of all the issued and outstanding shares of
common stock of WABCO. 
 “S&P” means Standard & Poor’s Ratings Group. 
 “Statutory Reserve Rate” means, with respect to any currency, a fraction (expressed as a decimal), the numerator of which is the number
one and the denominator of which is the number one minus the aggregate of the maximum reserve, liquid asset or similar percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by any
Governmental Authority of the United States or of the jurisdiction of such currency or any jurisdiction in which Loans in such currency are made to which banks in such jurisdiction are subject for any category of deposits or liabilities customarily
used to fund loans in such currency or by reference to which interest rates applicable to Loans in such currency are determined. Such reserve, liquid asset or similar percentages shall include those imposed pursuant to Regulation D of the
Board. Eurocurrency Loans shall be deemed to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under Regulation D or any other
applicable law, rule or regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 
 “Sterling” or “£” means the lawful money of the United Kingdom. 
 “Sterling/Euro Swingline Exposure” means at any time, the aggregate of the US Dollar Equivalents of the principal amounts of all Swingline Loans denominated in Sterling or Euro outstanding at such time. The Sterling/Euro
Swingline Exposure of any Lender at any time shall be such Lender’s Applicable Percentage of the aggregate Sterling/Euro Swingline Exposure. 
 “Sterling/Euro Swingline Sublimit” means (a) on any date prior to the Spin-Off, US$75,000,000 and (b) on any date on or after the Spin-Off, US$25,000,000, in each case as such amount may be adjusted in accordance
with Section 2.06(d). 
  

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 “subsidiary” means, with respect to any person (herein referred to as the
“parent”), any person of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership
interests are, at the time any determination is being made, owned, controlled or held by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. 
 “Subsidiary” means any direct or indirect subsidiary of Holdings. 
 “Swingline Base Rate” means, for any day, with respect to any Swingline Loan that (a) is denominated in US Dollars, the Federal
Funds Effective Rate and (b) is denominated in Sterling or Euro, a rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to the interest rate per annum at which deposits in the currency in which such Swingline Loan is
denominated and approximately equal in principal amount to such Swingline Loan are obtainable by the Swingline Lender on such day at its lending office for such Swingline Loan in the interbank market (or any other market for funds in such currency
utilized by the Swingline Lender), adjusted to reflect any direct or indirect costs of obtaining such deposits. The Swingline Base Rate applicable to any Swingline Loan that is denominated in Sterling or Euro shall be determined for each day by the
Swingline Lender and such determination shall be presumed correct in the absence of facts or circumstances indicating that it was made in error. 
 “Swingline Exposure” means, at any time, the sum of (a) the US Dollar Swingline Exposure at such time plus (b) the Sterling/Euro Swingline Exposure at such time. The Swingline Exposure of any Lender at any time
shall be such Lender’s Applicable Percentage of the aggregate Swingline Exposure. 
 “Swingline Lender” means JPMCB in
its capacity as lender of Swingline Loans hereunder. 
 “Swingline Loan” means a Loan made pursuant to
Section 2.06(a)(i). 
 “Swingline Sublimit” means the Sterling/Euro Swingline Sublimit or the US Dollar Swingline
Sublimit. 
 “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings
imposed by any Governmental Authority. 
 “364-Day Credit Agreement” means the 364-Day Credit Agreement dated as of the date
hereof among Holdings, the Company, ASII, the borrowing subsidiaries party thereto, the lenders party thereto and the agents party thereto, as amended, supplemented or otherwise modified from time to time. 
 “Transactions” means the execution, delivery and performance by the Credit Parties of this Agreement and the other Credit Documents, the
Borrowings hereunder, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. 
  

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 “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the LIBO Rate, the Alternate Base Rate or, in the case of a Competitive Loan or Borrowing, a Fixed Rate. 
 “UK Borrowing Subsidiary” means a Borrowing Subsidiary that is organized in the United Kingdom or a political subdivision thereof.

 “UK Lending Office” means, as to any Lender, any applicable branch, office or Affiliate of such Lender designated by such
Lender to make Loans in Euro or Sterling (other than any Loan by a Lender to a Belgian Borrowing Subsidiary). 
 “Unfunded Vested
Liabilities” means, for any Plan at any time, the amount (if any) by which (a) the present value of all vested nonforfeitable accrued benefits under such Plan exceeds (b) the fair market value of all Plan assets allocable to such
benefits, all determined as of the then most recent valuation date for such Plan, but only to the extent that such excess represents a potential liability of a member of the Controlled Group to the PBGC or the Plan under Title IV of ERISA.

 “Unrestricted Cash and Cash Equivalents” means cash and cash equivalents that are not, or are not required under the
terms of any agreement or arrangement to be, (a) pledged to, subject to a Lien in favor of, or held in one or more accounts under the control (as defined in the New York Uniform Commercial Code) of one or more creditors of Holdings or any
Subsidiary, or (b) otherwise segregated from the general assets of Holdings and the Subsidiaries, in one or more special accounts or otherwise, for the purpose of securing or providing a source of payment for Indebtedness or other obligations
that are or from time to time may be owed to one or more creditors of Holdings or any Subsidiary. It is agreed that cash and cash equivalents held in ordinary deposit or securities accounts of Holdings or its Subsidiaries and not subject to any
existing or contingent restrictions on transfer by Holdings or its Subsidiaries will be deemed to constitute Unrestricted Cash and Cash Equivalents notwithstanding any setoff rights created by law or by applicable account agreements in favor of
depositary institutions. 
 “US Borrower” means a Borrower that is a US Person. 
 “US Dollar” or “US$” refers to lawful money of the United States of America. 
 “US Dollar Equivalent” means, on any date of determination, (a) with respect to any amount in US Dollars, such amount, and
(b) with respect to any amount in any Designated Foreign Currency, the equivalent in US Dollars of such amount, determined by the Administrative Agent pursuant to Section 1.05 using the Exchange Rate with respect to such Designated Foreign
Currency at the time in effect under the provisions of such Section. 
  

 24 

 “US Dollar Swingline Exposure” means, at any time, the aggregate principal amount of all
Swingline Loans denominated in US Dollars outstanding at such time. The US Dollar Swingline Exposure of any Lender at any time shall be such Lender’s Applicable Percentage of the aggregate US Dollar Swingline Exposure. 
 “US Dollar Swingline Sublimit” shall mean US$75,000,000, as such amount may be adjusted in accordance with Section 2.06(d).

 “US Lending Office” means, as to any Lender, any applicable branch, office or Affiliate of such Lender designated by such
Lender to make Loans in US Dollars. A Lender may designate multiple US Lending Offices for Loans to different Borrowers. 
 “US
Person” means a Person incorporated or otherwise organized in the United States of America, a State thereof or the District of Columbia. 
 “US Subsidiary” means a Subsidiary that is a US Person or is treated as disregarded as an entity separate from a US Person or is treated as a US Person, in each case for US Federal income tax purposes. 
 “Utilization Percentage” means, on any day, the percentage produced by dividing (a) the aggregate Revolving Credit Exposures by
(b) the total Commitments, unless the Commitments shall have been terminated, in which case the Utilization Percentage shall be 100%. 
 “Voting Stock” of any Person means capital stock of any class or classes or other Equity Interests (however designated) having ordinary voting power for the election of members of the board of directors or the equivalent
governing body of such Person, other than capital stock or other Equity Interests having such power only by reason of happening of a contingency. 
 “WABCO” means WABCO Holdings Inc., a Wholly Owned Subsidiary of Holdings which, after giving effect to the Spin-Off as disclosed in the Form 10, will hold, among other things, all of the assets and liabilities associated
with Holdings’ Vehicle Control Systems division. 
 “Welfare Plan” means a “welfare plan” as
defined in Section 3(l) of ERISA. 
 “Wholly Owned Subsidiary” means any Subsidiary all the Equity Interests in which,
other than directors’ qualifying shares and/or other nominal amounts of Equity Interests that are required to be held by Persons other than Holdings and its Wholly Owned Subsidiaries under applicable law, are owned, directly or indirectly, by
Holdings. 
 SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and
referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency Revolving Loan”). Borrowings also may be classified and referred
to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency Revolving Borrowing”). 
  

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 SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to the singular
and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed
to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of or
reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all
tangible and intangible assets and properties, including cash, securities, accounts and contract rights. References herein to the taking of any action hereunder of an administrative nature by any Borrower shall be deemed to include references to
Holdings, the Company or ASII taking such action on such Borrower’s behalf and the Agents are expressly authorized to accept any such action taken by Holding, the Company or ASII as having the same effect as if taken by such Borrower. Each
reference herein to the “knowledge” of Holdings, the Company, ASII or any Subsidiary shall be deemed to be a reference to the knowledge of any member of senior management of Holdings, the Company, ASII or such Subsidiary, any
Financial Officer and, in the case of any reference to knowledge of any specific subject matter, the senior manager of the department or office of Holdings, the Company, ASII or such Subsidiary responsible for such matter. 
 SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be
construed in accordance with GAAP as in effect from time to time; provided that, if the Borrower Agent notifies the Administrative Agent that the Borrower Agent requests an amendment to any provision hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower Agent that the Required Lenders request an amendment to any provision hereof for
such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change
shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. All Financial Statements to be furnished to the Lenders hereunder shall be prepared, and all calculations determining
compliance with Article VI (including the definitions used therein) shall be made, for the relevant Person and its consolidated Subsidiaries on a 

  

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consolidated basis in accordance with GAAP consistently applied throughout the periods involved except as set forth in the notes thereto; provided
that except as otherwise specifically provided herein, all calculations for determining compliance with Article VI shall utilize accounting principles and policies in effect at the time of the preparation of, and in conformity with those used
to prepare, the audited Financial Statements of Holdings for the fiscal year ended December 31, 2006. With respect to any Subsidiary that is not a Wholly-Owned Subsidiary, only that portion of such Subsidiary’s results of operations,
assets and liabilities as are equal to Holding’s ownership shall be included in making any calculation with respect to the financial covenants in Article VI. 
 SECTION 1.05. Exchange Rates. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date (determined without regard to clause (b) of the definition of such term), the
Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to Sterling, Euro, Canadian Dollars and each other Designated Foreign Currency in which any outstanding Borrowing or Letter of Credit shall be
denominated as of such Calculation Date and (ii) give written notice thereof to the Lenders and the Borrower Agent. Not later than 1:00 p.m., New York City time, on the Business Day immediately preceding the date of any Borrowing in a
Designated Foreign Currency for which no Exchange Rate shall have been determined on the most recent Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Business Day with respect to such Designated
Foreign Currency and (ii) give written notice thereof to the Lenders and the Borrower Agent. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “Reset
Date”) or other date of determination, shall remain effective until the next succeeding Reset Date, and shall for all purposes of this Agreement (other than Section 10.14 or any other provision expressly requiring the use of a current
Exchange Rate) be the Exchange Rates employed in converting any amounts between US Dollars and Designated Foreign Currencies. 
 (b) Not
later than 5:00 p.m., New York City time, on each Reset Date and on each date on which Revolving Loans denominated in any Designated Foreign Currency are made, or Letters of Credit denominated in any Designated Foreign Currency are issued,
the Administrative Agent shall (i) determine the aggregate amount of each of the Revolving Credit Exposure and the aggregate US Dollar Equivalent of the principal amounts of the Competitive Loans denominated in Designated Foreign Currencies
then outstanding (after giving effect to any Loans made or repaid or Letters of Credit issued, drawn or expired on such date) and (ii) notify the Lenders and the Borrower Agent of the results of such determination. 
 ARTICLE II 
 The Credits 
 SECTION 2.01. Commitments. (a) Subject to the terms and conditions set forth herein, each Lender agrees to make Revolving Loans to the
Borrowers from time to time during the Availability Period in US Dollars from its applicable US Lending Offices or in any Designated Foreign Currency from its applicable Non-US Lending 

  

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Offices in an aggregate principal amount that will not result in (i) such Lender’s Revolving Credit Exposure exceeding its Commitment or
(ii) the sum of the aggregate Revolving Credit Exposures and the aggregate Competitive Loan Exposures exceeding the aggregate Commitments. 
 (b) Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Revolving Loans during the Availability Period. 
 SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the
Lenders (or their Affiliates as provided in paragraph (b) below) ratably in accordance with their respective Commitments. Each Competitive Loan shall be made in accordance with the procedures set forth in Section 2.04. The failure of any
Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments and Competitive Bids of the Lenders are several and no Lender shall be responsible for any other
Lender’s failure to make Loans as required. 
 (b) Subject to Section 2.14, (i) each Revolving Borrowing shall be comprised
entirely of Eurocurrency Loans or, in the case of Revolving Borrowings denominated in US Dollars, ABR Loans, as the applicable Borrower may request in accordance herewith; and (ii) each Competitive Borrowing shall be comprised entirely of
Eurocurrency Loans or Fixed Rate Loans, as the applicable Borrower may request in accordance herewith. Each Lender at its option may make any Eurocurrency Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan;
provided that any exercise of such option shall not affect the obligation of any Borrower to repay such Loan in accordance with the terms of this Agreement. 
 (c) At the commencement of each Interest Period for any Revolving Borrowing (other than a Swingline Loan), such Borrowing shall be in an aggregate amount that is an integral multiple of the Borrowing Multiple and not
less than the Borrowing Minimum; provided that an ABR Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments. Each Competitive Borrowing shall be in an aggregate amount that is an
integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum. Each Swingline Loan denominated in US Dollars shall be in an amount that is an integral multiple of US$500,000, and each Swingline Loan denominated in Sterling or
Euro shall be in an amount that is an integral multiple of 100,000 units of such currency; provided that any Swingline Loan made to refinance any reimbursement payment owed in respect of a Letter of Credit may be in an amount (which shall not
be less that US$100,000 or 100,000 units of any Designated Foreign Currency) equal to the amount of such reimbursement payment. Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at
any time be outstanding more than a total of (i) 15 Eurocurrency Revolving Borrowings denominated in US Dollars and (ii) 15 Eurocurrency Revolving Borrowings denominated in Designated Foreign Currencies. 
  

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 (d) Notwithstanding any other provision of this Agreement, no Borrower shall be entitled to request, or
to elect to convert or continue, any Revolving Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date, or to request any Competitive Borrowing if the Interest Period requested with respect thereto would end
after the Maturity Date. 
 SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing, the applicable Borrower
shall notify the Applicable Agent of such request by telephone or by telecopy (a) in the case of a Eurocurrency Borrowing, not later than 11:00 a.m., Local Time, three Business Days before the date of the proposed Borrowing or (b) in
the case of an ABR Borrowing, not later than 11:00 a.m., Local Time, on the date of the proposed Borrowing. Each such Borrowing Request shall be irrevocable and, if telephonic, shall be confirmed promptly by hand delivery or telecopy to the
Applicable Agent of a written Borrowing Request in a form agreed to by the Applicable Agent and the Borrower Agent and signed by the applicable Borrower, or by the Borrower Agent on behalf of the applicable Borrower. Each such telephonic and written
Borrowing Request shall specify the following information in compliance with Section 2.02: 
 (i) the Borrower requesting
such Borrowing (or on whose behalf the Borrower Agent is requesting such Borrowing); 
 (ii) the currency and aggregate amount
of the requested Borrowing; 
 (iii) the date of such Borrowing, which shall be a Business Day; 
 (iv) the Type of the requested Borrowing; 
 (v) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and 
 (vi) the location and number of the relevant Borrower’s account to which funds are to be disbursed, which shall comply with the
requirements of Section 2.07. 
 If no currency is specified with respect to any requested Eurocurrency Borrowing, then the relevant Borrower shall be
deemed to have selected US Dollars. If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving Borrowing shall be (i) in the case of a Borrowing denominated in US Dollars, an ABR Borrowing and (ii) in
the case of a Borrowing denominated in any other currency, a Eurocurrency Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency Revolving Borrowing, then the Borrower shall be deemed to have selected an Interest
Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Applicable Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as
part of the requested Borrowing. 
  

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 SECTION 2.04. Competitive Bid Procedure. (a) Subject to the terms and conditions set forth
herein, from time to time during the Availability Period any Borrower may request Competitive Bids, and may (but shall not have any obligation to) accept Competitive Bids and borrow Competitive Loans, denominated in US Dollars, Sterling or Euro;
provided that after giving effect to any Borrowing of Competitive Loans the sum of the aggregate Revolving Credit Exposures and the aggregate Competitive Loan Exposures shall not exceed the aggregate Commitments. To request Competitive Bids,
the applicable Borrower shall notify the Administrative Agent of such request by telephone or by telecopy, in the case of a Eurocurrency Borrowing, not later than 11:00 a.m., Local Time, four Business Days before the date of the proposed
Borrowing and, in the case of a Fixed Rate Borrowing, not later than 10:00 a.m., Local Time, one Business Day before the date of the proposed Borrowing; provided that the Borrowers may submit up to (but not more than) five Competitive
Bid Requests on the same day, but a Competitive Bid Request shall not be made within five Business Days after the date of any previous Competitive Bid Request unless any and all such previous Competitive Bid Requests shall have been withdrawn or all
Competitive Bids received in response thereto rejected. Each such telephonic Competitive Bid Request shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Competitive Bid Request in a form approved by the
Administrative Agent and signed by the applicable Borrower, or by the Borrower Agent on behalf of the applicable Borrower. Each such telephonic and written Competitive Bid Request shall specify the following information in compliance with
Section 2.02: 
 (i) the Borrower requesting such Borrowing (or on whose behalf the Borrower Agent is requesting such
Borrowing); 
 (ii) the aggregate principal amount of the requested Borrowing and the currency of the requested Borrowing;

 (iii) the date of such Borrowing, which shall be a Business Day; 
 (iv) whether such Borrowing is to be a Eurocurrency Borrowing or a Fixed Rate Borrowing; 
 (v) the Interest Period to be applicable to such Borrowing, which shall be a period contemplated by the definition of the term
“Interest Period” and shall end no later than the Maturity Date; and 
 (vi) the location and number of the
Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.07. 
 Promptly following receipt of a
Competitive Bid Request in accordance with this Section, the Administrative Agent shall notify the Lenders of the details thereof by telecopy, inviting the Lenders to submit Competitive Bids. 
 (b) Each Lender may (but shall not have any obligation to) make one or more Competitive Bids to the applicable Borrower in response to a Competitive Bid
Request. Each Competitive Bid by a Lender must be in a form approved by the 

  

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Administrative Agent and must be received by the Administrative Agent by telecopy, in the case of a Eurocurrency Competitive Borrowing, not later than
9:30 a.m., Local Time, three Business Days before the proposed date of such Competitive Borrowing, and in the case of a Fixed Rate Borrowing, not later than 9:30 a.m., Local Time, on the proposed date of such Competitive Borrowing.
Competitive Bids that do not conform substantially to the form approved by the Administrative Agent may be rejected by the Administrative Agent, and the Administrative Agent shall notify the applicable Lender as promptly as practicable. Each
Competitive Bid shall specify (i) the principal amount (which shall be an amount at least equal to the Borrowing Minimum and an integral multiple of the Borrowing Multiple and which may equal the entire principal amount of the Competitive
Borrowing requested by the applicable Borrower) of the Competitive Loan or Loans that the Lender is willing to make, (ii) the Competitive Bid Rate or Rates at which the Lender is prepared to make such Loan or Loans (expressed as a percentage
rate per annum in the form of a decimal to no more than four decimal places) and (iii) the Interest Period applicable to each such Loan and the last day thereof. 
 (c) The Administrative Agent shall notify the applicable Borrower by telecopy of each Competitive Bid Rate and each principal amount specified in each Competitive Bid and the identity of the Lender that shall have
made each such Competitive Bid not later than (i) in the case of a Eurocurrency Competitive Borrowing, 10:00 a.m., Local Time, three Business Days before the proposed date of such Competitive Borrowing, and (ii) in the case of a Fixed
Rate Borrowing 10:00 a.m., Local Time, on the proposed date of such Competitive Borrowing. 
 (d) Subject only to the provisions of this
paragraph, a Borrower may accept or reject any Competitive Bid. The applicable Borrower shall notify the Administrative Agent by telecopy or by telephone, confirmed by telecopy in a form approved by the Administrative Agent, whether and to what
extent it has decided to accept or reject each Competitive Bid, in the case of a Eurocurrency Competitive Borrowing, not later than 11:00 a.m., Local Time, three Business Days before the date of the proposed Competitive Borrowing, and in the
case of a Fixed Rate Borrowing, not later than 11:00 a.m., Local Time, on the proposed date of the Competitive Borrowing; provided that (i) the failure of a Borrower to give such notice with respect to any Competitive Bid shall be
deemed to be a rejection of such Competitive Bid, (ii) a Borrower shall not accept a Competitive Bid made at a particular Competitive Bid Rate if such Borrower rejects a Competitive Bid made in response to the same Competitive Bid Request at a
lower Competitive Bid Rate, (iii) the aggregate amount of the Competitive Bids accepted by a Borrower shall not exceed the aggregate amount of the requested Competitive Borrowing specified in the related Competitive Bid Request, (iv) to
the extent necessary to comply with clause (iii) above, a Borrower may accept Competitive Bids at the same Competitive Bid Rate in part, which acceptance, in the case of multiple Competitive Bids at such Competitive Bid Rate, shall be made pro
rata in accordance with the amount of each such Competitive Bid, and (v) except pursuant to clause (iv) above, no Competitive Bid shall be accepted for a Competitive Loan unless such Competitive Loan is in a minimum principal amount of at
least the Borrowing Minimum that is an integral multiple of the Borrowing Multiple; provided further that if a Competitive Loan must be in an amount less than the Borrowing Minimum because of 

  

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the provisions of clause (iv) above, such Competitive Loan may be for a minimum of US$1,000,000 (or, in the case of a Competitive Loan denominated in
Sterling or Euro, the smallest amount of such currency that (i) is an integral multiple of 1,000,000 units of such currency and (ii) has a US Dollar Equivalent in excess of US$1,000,000) or any integral multiple thereof, and in calculating
the pro rata allocation of acceptances of portions of multiple Competitive Bids at a particular Competitive Bid Rate pursuant to clause (iv) the amounts shall be rounded to integral multiples of the Borrowing Multiple in a manner determined by
the Administrative Agent. A notice given by a Borrower pursuant to this paragraph shall be irrevocable. 
 (e) The Administrative Agent shall
promptly notify each bidding Lender by telecopy whether or not its Competitive Bid has been accepted (and, if so, the amount and Competitive Bid Rate so accepted), and each successful bidder will thereupon become bound, on the terms hereof and
subject to the conditions set forth in Section 4.02 (which conditions, insofar as they apply to any Competitive Loan, may be waived by the Lender that is to make such Competitive Loan), to make the Competitive Loan in respect of which its
Competitive Bid has been accepted. 
 (f) If the Administrative Agent shall elect to submit a Competitive Bid in its capacity as a Lender, it
shall submit such Competitive Bid directly to the applicable Borrower at least one quarter of an hour earlier than the time by which the other Lenders are required to submit their Competitive Bids to the Administrative Agent pursuant to
paragraph (b) of this Section. 
 SECTION 2.05. Letters of Credit. (a) General. Subject to the terms and conditions
set forth herein, any Borrower may request the issuance (or the amendment, renewal or extension) of Letters of Credit denominated in US Dollars, Sterling, Euro or Canadian Dollars in a form reasonably acceptable to the Administrative Agent and the
applicable Issuing Bank, at any time and from time to time during the Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application
or other agreement submitted by any Borrower to, or entered into by such Borrower with, any Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 
 (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment,
renewal or extension of an outstanding Letter of Credit), the applicable Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank) to an Issuing
Bank and the Applicable Agent (in any case reasonably in advance of the requested date of issuance, amendment, renewal or extension), a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed
or extended, the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency of such
Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to enable the Issuing Bank to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable 

  

 32 

 
Issuing Bank, the applicable Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any
request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable Borrower shall be deemed to represent and warrant
that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed US$250,000,000, (ii) the aggregate Revolving Credit Exposure will not exceed the aggregate Commitments, and (iii) the
sum of the aggregate Revolving Credit Exposures and the aggregate Competitive Loan Exposures will not exceed the aggregate Commitments. 
 (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date one year after the date of the issuance, renewal or extension of such Letter of Credit and (ii) the
date that is five Business Days prior to the Maturity Date; provided that a Letter of Credit may provide for automatic renewals for additional periods of up to one year, subject to a right on the part of the Issuing Bank to prevent any such
renewal from occurring by giving notice to the beneficiary during a period satisfactory to the Administrative Agent in advance of any such renewal and provided that in no event shall any Letter of Credit or renewal thereof expire after the date that
is five Business Days prior to the Maturity Date. 
 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Lenders, such Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from such Issuing Bank, a
participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby absolutely
and unconditionally agrees to pay to the Applicable Agent, for the account of the applicable Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the applicable Borrower on
the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the applicable Borrower for any reason. Each Lender acknowledges and agrees that its obligation to acquire participations
pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and
continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 
 (e) Reimbursement. If any Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the applicable Borrower shall reimburse
such LC Disbursement by paying to the Applicable Agent an amount equal to such LC Disbursement, in the currency in which such LC Disbursement shall have been made, not later than 12:00 noon, Local Time, on the date that such LC Disbursement is made,
if the Borrower shall have received notice of such LC Disbursement prior to 10:00 a.m., Local Time, on such date, or, if such notice has not been received by the Borrower prior to such 

  

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time on such date, then not later than 12:00 noon, Local Time, on (A) the Business Day that the Borrower receives such notice, if such notice is
received prior to 10:00 a.m., Local Time, on the day of receipt, or (B) the Business Day immediately following the day that the Borrower receives such notice, if such notice is not received prior to such time on the day of receipt. If the
Borrower fails to make such payment when due then, the Applicable Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect thereof and such Lender’s Applicable Percentage thereof.
Promptly following receipt of such notice, each Lender shall pay to the Applicable Agent its Applicable Percentage of the payment then due from the applicable Borrower in the same manner as provided in Section 2.07 with respect to Loans made by
such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Applicable Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Lenders.
Promptly following receipt by the Applicable Agent of any payment from any Borrower pursuant to this paragraph, the Applicable Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments
pursuant to this paragraph to reimburse any Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse any Issuing Bank for any LC Disbursement shall
not constitute a Loan and shall not relieve any Borrower of its obligation to reimburse such LC Disbursement. 
 (f) Obligations
Absolute. The Borrowers’ obligations to reimburse LC Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this
Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement or any other Credit Document, or any term or provision herein or therein,
(ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by any Issuing Bank under a
Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but
for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder. None of the Agents, the Lenders or the Issuing Banks, or any of their Related Parties,
shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the
preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing
thereunder), any error in the interpretation of the terms of any Letter of Credit or any consequence arising from causes beyond the control of the applicable Issuing Bank; provided that the foregoing shall not be construed to excuse any
Issuing Bank from liability to any Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrowers) suffered by such Borrower that are caused by any Issuing Bank’s
gross negligence or wilful misconduct. In furtherance of the foregoing and without limiting the 
  

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generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of
a Letter of Credit, the applicable Issuing Bank may, acting in good faith, either accept and make payment upon such documents without responsibility for further investigation or refuse to accept and make payment upon such documents if such documents
are not in strict compliance with the terms of such Letter of Credit. 
 (g) Disbursement Procedures. The applicable Issuing Bank
shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The applicable Issuing Bank shall promptly notify the Applicable Agent and the applicable Borrower by
telephone (confirmed by telecopy) of such demand for payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve any Borrower of
its obligation to reimburse such Issuing Bank and the Lenders with respect to any such LC Disbursement. 
 (h) Interim Interest. If an
Issuing Bank shall make any LC Disbursement, then, unless the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including
the date such LC Disbursement is made to but excluding the date that such Borrower reimburses such LC Disbursement, at (i) in the case of any LC Disbursement denominated in US Dollars, the rate per annum then applicable to ABR Revolving Loans
and (ii) in the case of any LC Disbursement denominated in Sterling, Euro or Canadian Dollars, a rate per annum determined by the applicable Issuing Bank (which determination will be presumed correct in the absence of facts or circumstances
indicating that it has been made in error) to represent its cost of funds plus the Applicable Rate used to determine interest applicable to Eurocurrency Revolving Loans; provided that, at all times after such Borrower fails to reimburse such
LC Disbursement when due pursuant to paragraph (e) of this Section, Section 2.13(e) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after
the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the applicable Issuing Bank shall be for the account of such Lender to the extent of such payment. 
 (i) Cash Collateralization. If the Commitments shall be terminated or if any Event of Default shall occur and be continuing, on the Business Day
that the Borrower Agent, on behalf of the applicable Borrowers, receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposures representing greater than 50% of
the total LC Exposure) demanding the deposit of cash collateral pursuant to this paragraph, the applicable Borrowers shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the
Lenders an amount in cash equal to the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral with respect to the LC Exposure shall become effective immediately,
and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to Holdings, the Company, ASII or any 

  

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applicable Borrower described in clause (g) or (h) of Section 7.01. Such deposit shall be held by the Administrative Agent as collateral for
the payment and performance of the obligations of the Credit Parties under the Credit Documents. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any
interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and the applicable Borrowers’ risk and expense, such deposits shall not bear interest. Interest or
profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the applicable Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the
extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrowers for the LC Exposures at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with LC
Exposures representing greater than 50% of the total LC Exposure), be applied to satisfy other obligations of the Credit Parties under the Credit Documents. If the Borrowers are required to provide an amount of cash collateral hereunder as a result
of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to them within three Business Days after all Events of Default have been cured or waived. 
 (j) Existing Letters of Credit. Each Existing Letter of Credit shall for all purposes of this Agreement be deemed a Letter of Credit issued under
this Agreement. 
 SECTION 2.06. Swingline Loans. (a) Subject to the terms and conditions set forth herein, the Swingline Lender
agrees to make Swingline Loans to the Borrowers from time to time during the Availability Period (i) in US Dollars in an aggregate principal amount at any time outstanding that will not result in the US Dollar Swingline Exposure exceeding the
US Dollar Swingline Sublimit and (ii) in Sterling or Euro in an aggregate principal amount at any time outstanding that will not result in the Sterling/Euro Swingline Exposure exceeding the Sterling/Euro Swingline Sublimit, and that in each
case will not result in (x) the sum of the US Dollar Equivalent of the principal amounts of outstanding Swingline Loans exceeding US$100,000,000 or (y) the sum of the aggregate Revolving Credit Exposures and the aggregate Competitive Loan
Exposures exceeding the aggregate Commitments; provided that no Swingline Loan shall be made to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may
borrow, prepay and reborrow Swingline Loans. 
 (b) To request a Swingline Loan, a Borrower shall give notice of such request by telephone
(confirmed by telecopy) (i) in the case of a Swingline Loan denominated in US Dollars, to the Swingline Lender (with a copy to the Applicable Agent), not later than 12:00 noon, New York City time, (ii) in the case of Swingline
Loan denominated in Sterling or Euro (other than a Swingline Loan requested by a Belgian Borrowing Subsidiary), to the Swingline Lender (with a copy to the Applicable Agent), not later than 1:00 p.m., London time, and (iii) in the case of a
Swingline Loan requested by a Belgian Borrowing Subsidiary, to the Swingline Lender (with a copy to the London Agent) not later than 1:00 p.m., Brussels time, in each case on the day of the proposed 

  

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Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day), amount and currency of the
requested Swingline Loan. The Swingline Lender shall make each Swingline Loan available to the applicable Borrower by means of a credit to the general deposit account of such Borrower with the Swingline Lender (or, in the case of a Swingline Loan
made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(e), by remittance to the Issuing Bank) by (i) 3:00 p.m., New York City time, on the requested date of such Swingline Loan in the case of a
Swingline Loan denominated in US Dollars, (ii) 4:00 p.m., Local Time, on the requested date of such Swingline Loan in the case of a Swingline Loan denominated in Sterling or Euro (other than a Swingline Loan requested by a Belgian Borrowing
Subsidiary) and (iii) 4:00 p.m., Brussels time, on the requested date of such Swingline Loan in the case of a Swingline Loan requested by a Belgian Borrowing Subsidiary. 
 (c) The Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., New York City time, on any Business Day
require the Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall specify the amounts and currencies of the Swingline Loans. Promptly upon receipt of such notice, the
Administrative Agent will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable Percentage of each such Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice
as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable Percentage of each such Swingline Loan or Loans. Each Lender acknowledges and agrees that its obligation to acquire
participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the
Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same
manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the
Swingline Lender the amounts so received by it from the Lenders. The Administrative Agent shall notify the Borrower Agent of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such
Swingline Loan shall be made to the Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from any Borrower (or other party on behalf of any Borrower) in respect of a Swingline Loan after receipt by the
Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Lenders
that shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests may appear. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the applicable Borrower of any
default in the payment thereof. 
  

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 (d) The Borrower Agent may from time to time, but in no event more than once during any fiscal quarter,
upon ten Business Days’ prior written notice to the Administrative Agent and the Swingline Lender, increase one Swingline Sublimit and simultaneously decrease the other Swingline Sublimit in amounts that will result in the sum of the US Dollar
Swingline Sublimit and the Sterling/Euro Swingline Sublimit remaining unchanged after giving effect to such increase and decrease; provided that no such adjustment shall be made that would result in (i) the US Dollar Swingline Exposure
exceeding the US Dollar Swingline Sublimit or (ii) the Sterling/Euro Swingline Exposure exceeding the Sterling/Euro Swingline Sublimit. Any such notice shall set forth the amount of the increase or decrease in each Swingline Sublimit and the
date on which such adjustment is requested to become effective. 
 SECTION 2.07. Funding of Borrowings. (a) Each Lender shall
make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds in the applicable currency by 1:00 p.m., Local Time, to the account of the Applicable Agent most recently designated by it
for such purpose by notice to the applicable Lenders; provided that Swingline Loans shall be made as provided in Section 2.06. The Applicable Agent will make such Loans available to the applicable Borrower by promptly crediting the
amounts so received, in like funds, to an account of such Borrower maintained with the Applicable Agent (i) in New York City, in the case of Loans denominated in US Dollars, and (ii) in London, in the case of Loans denominated in
Designated Foreign Currencies, and designated by such Borrower in the applicable Borrowing Request or Competitive Bid Request; provided that Loans made to finance the reimbursement of an LC Disbursement shall be remitted by the Applicable
Agent to the applicable Issuing Bank. 
 (b) Unless the Applicable Agent shall have received notice from a Lender prior to the proposed date
of any Borrowing that such Lender will not make available to the Applicable Agent such Lender’s share of such Borrowing, the Applicable Agent may assume that such Lender has made such share available on such date in accordance with paragraph
(a) of this Section and may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Applicable
Agent, then the applicable Lender and the Borrowers severally agree to pay to the Applicable Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the
applicable Borrower to but excluding the date of payment to the Applicable Agent, at (i) in the case of such Lender, a rate determined by the Applicable Agent in accordance with banking industry rules on interbank compensation or (ii) in
the case of a Borrower, the interest rate applicable to such Borrowing. If such Lender pays such amount to the Applicable Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 
 SECTION 2.08. Interest Elections. (a) Each Revolving Borrowing initially shall be of the Type specified in the applicable Borrowing Request
and, in the case of a Eurocurrency Revolving Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to
continue such 

  

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Borrowing, and, in the case of a Eurocurrency Revolving Borrowing, may elect Interest Periods therefor, all as provided in this Section. The applicable
Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and any Loans resulting from
an election made with respect to any such portion shall be considered a separate Borrowing. Notwithstanding any other provision of this Section, no Borrowing may be converted into or continued as a Borrowing with an Interest Period ending after the
Maturity Date. This Section shall not apply to Competitive Borrowings or Swingline Borrowings, which may not be converted or continued. 
 (b) To make an election pursuant to this Section, a Borrower (or Holdings on its behalf) shall notify the Applicable Agent of such election by telephone or by telecopy by the time and date that a Borrowing Request would be required under
Section 2.03 if such Borrower were requesting a Revolving Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest Election Request shall be irrevocable and, if telephonic, shall
be confirmed promptly by hand delivery or telecopy to the Applicable Agent of a written Interest Election Request in a form approved by the Applicable Agent and signed by the applicable Borrower (or Holdings on its behalf). The provisions of this
Section shall not permit any Borrower to (i) change the currency of any Borrowing, (ii) elect an Interest Period for Eurocurrency Loans that does not comply with Section 2.02(d) or (iii) convert any Borrowing of a Borrower to a
Borrowing of another Borrower. 
 (c) Each telephonic and written Interest Election Request shall specify the following information in
compliance with Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and, if different
options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be
specified for each resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day; 
 (iii) whether the resulting extension of credit is to be an ABR Borrowing or a
Eurocurrency Borrowing; and 
 (iv) if the resulting extension of credit is a Eurocurrency Borrowing, the Interest Period to
be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 
 If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. 
  

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 (d) Promptly following receipt of an Interest Election Request, the Applicable Agent shall advise each
Lender to which such Interest Election Request relates of the details thereof and of such Lender’s portion of each resulting Borrowing. 
 (e) If a Borrower fails to deliver a timely Interest Election Request with respect to a Eurocurrency Revolving Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein,
at the end of such Interest Period, such Borrowing shall (i) in the case of a Borrowing denominated in US Dollars, be converted to an ABR Borrowing and (ii) in the case of a Eurocurrency Borrowing denominated in any currency other than US
Dollars, become due and payable on the last day of such Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so
notifies the Borrower Agent, then, so long as an Event of Default is continuing (i) no outstanding Revolving Borrowing denominated in US Dollars may be converted to or continued as a Eurocurrency Borrowing, (ii) no outstanding Eurocurrency
Revolving Borrowing denominated in a Designated Foreign Currency may be converted to or continued as a Eurocurrency Borrowing with an Interest period of greater than one month and (iii) unless repaid, each Eurocurrency Revolving Borrowing
denominated in US Dollars shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 
 SECTION 2.09.
Termination, Reduction and Increase of Commitments. (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date. 
 (b) The Borrower Agent may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of
US$1,000,000 and not less than US$5,000,000 and (ii) the Borrower Agent shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.11, the sum of the total
Revolving Credit Exposures plus the total Competitive Loan Exposures would exceed the total Commitments or the aggregate Revolving Credit Exposures would exceed the aggregate Commitments. 
 (c) The Borrower Agent shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this
Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the other
Agents and the applicable Lenders of the contents thereof. Each notice delivered by the Borrower Agent pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower Agent may
state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower Agent (by notice to the Administrative Agent on or prior to the specified effective date) if such
condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments. 
  

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 (d) (i) The Borrower Agent may, by written notice to the Administrative Agent, request that the total
Commitments be increased (a “Commitment Increase”) by an amount of not less than US$25,000,000; provided that the aggregate amount of increases pursuant to this paragraph shall not exceed US$250,000,000. Such notice shall set
forth the amount of the requested increase and the date (the “Increase Effective Date”) on which such increase is requested to become effective (which shall be not less than 10 Business Days or more than 30 days after the date of
such notice), and shall offer each Lender holding a Commitment the opportunity to increase its Commitment by its Applicable Percentage of the proposed increased amount. Each such Lender shall, by notice to the Borrower Agent and the Administrative
Agent given not more than 5 Business Days after the date of the Borrower Agent notice, either agree to increase its Commitment by all or a portion of the offered amount (each Lender so agreeing being an “Increasing Lender”) or
decline to increase its Commitment (and any Lender that does not deliver such a notice within such period of 5 Business Days shall be deemed to have declined to increase its Commitment) (each Lender so declining or deemed to have declined being a
“Non-Increasing Lender”). In the event that on the 5th Business Day after the Borrower Agent shall have delivered a notice pursuant to the first sentence of this paragraph the Lenders shall have agreed pursuant to the preceding
sentence to increase their Commitments by an aggregate amount less than the increase in the total Commitments requested by the Borrower Agent, the Borrower Agent may arrange for one or more banks or other financial institutions (any such bank or
other financial institution being called an “Augmenting Lender”), which may include any Lender, to extend Commitments in an aggregate amount equal to the unsubscribed amount; provided that each Augmenting Lender, if not
already a Lender hereunder, shall be subject to the approval of the Administrative Agent, each Issuing Bank and the Swingline Lender (which approvals shall not be unreasonably withheld) and the Credit Parties and each Augmenting Lender shall execute
all such documentation as the Administrative Agent and the Borrower Agent shall reasonably specify to evidence the Commitment of such Augmenting Lender and/or its status as a Lender hereunder. 
 (ii) On any Increase Effective Date, (A) the aggregate principal amount of the Revolving Loans outstanding under which a Commitment Increase will
become effective (the “Initial Loans”) immediately prior to giving effect to the applicable Commitment Increase on the Increase Effective Date shall be deemed to be repaid, (B) after the effectiveness of the Commitment
Increase, the Borrowers holding Commitments shall be deemed to have made new Borrowings (the “Subsequent Borrowings”) in an aggregate principal amount equal to the aggregate principal amount of the Initial Loans and of the types and
for the Interest Periods specified in a Borrowing Request delivered to the Administrative Agent in accordance with Section 2.03, (C) each Lender shall pay to the Applicable Agent in same day funds in the relevant currencies an amount equal
to the difference, if positive, between (x) such Lender’s Applicable Percentage (calculated after giving effect to the Commitment Increase) of the Subsequent Borrowings and (y) such Lender’s Applicable Percentage (calculated
without giving effect to the Commitment Increase) of the Initial Loans, (D) after the Applicable Agent receives the funds specified in clause (C) above, the Applicable Agent shall pay to each Lender the portion of such funds that is equal
to the difference, if positive, between (1) such Lender’s Applicable Percentage (calculated without giving effect to the Commitment 

  

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Increase) of the Initial Loans and (2) such Lender’s Applicable Percentage (calculated after giving effect to the Commitment Increase) of the
amount of the Subsequent Borrowings, (E) each Non-Increasing Lender, each Increasing Lender and each Augmenting Lender shall be deemed to hold its Applicable Percentage of each Subsequent Borrowing (each calculated after giving effect to the
Commitment Increase) and (F) each applicable Borrower shall pay each Increasing Lender and each Non-Increasing Lender any and all accrued but unpaid interest on the Initial Loans. The deemed payments made pursuant to clause (A) above in
respect of each Eurocurrency Loan shall be subject to indemnification by the Borrowers pursuant to the provisions of Section 2.16 if the Increase Effective Date occurs other than on the last day of the Interest Period relating thereto and
breakage costs result therefrom. 
 (iii) Notwithstanding the foregoing, an increase in the Commitments (or in any Commitment of any Lender)
or addition of an Augmenting Lender shall become effective under this Section only if (A) on the date of such increase, the conditions set forth in paragraph (f) of Section 4.01 shall be satisfied and the Administrative Agent shall
have received a certificate to that effect dated such date and executed by a Financial Officer of the Borrower Agent and (B) the Administrative Agent shall have received (with sufficient copies for each of the Lenders) documents consistent with
those delivered pursuant to Section 4.03(b) in connection with the designation of a new Borrowing Subsidiary as to the corporate power and authority of the applicable Borrowers to borrow hereunder after giving effect to such increase.

 SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) Each Borrower hereby unconditionally promises to pay (i) to
the Applicable Agent for the account of each Lender the unpaid principal amount of each Revolving Loan made by such Lender on the Maturity Date, (ii) to the Applicable Agent for the account of each Lender the unpaid principal amount of each
Competitive Loan on the last day of the Interest Period applicable to such Loan and (iii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Maturity Date and the first date after such
Swingline Loan is made that is the 15th day or the last day of a calendar month and that is at least one Business Day after the day on which such Swingline Loan shall have been made. 
 (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of each Borrower to such Lender
resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 
 (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period, if any, applicable thereto, and
(ii) the amounts of all sums received by the Agents hereunder for the accounts of the Lenders and each Lender’s share thereof. Each other Agent shall promptly provide the Administrative Agent with all information needed to maintain such
accounts in respect of the Loans administered by such Agent. 
  

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 (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this
Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or Agent to maintain such accounts or any error therein shall not in any manner affect the
obligation of any Borrower to repay the Loans in accordance with the terms of this Agreement. 
 (e) Any Lender may request that Loans of any
Class made by it be evidenced by a promissory note. In such event, each Borrower shall execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in substantially the form attached hereto as Exhibit F. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 10.04) be represented by
one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 
 SECTION 2.11. Prepayment of Loans. (a) The Borrowers shall have the right at any time and from time to time to prepay any Borrowing in whole
or in part, subject to prior notice in accordance with paragraph (d) of this Section and payment of any amounts required under Section 2.16; provided that the Borrowers shall not have the right to prepay any Competitive Loan without
the prior consent of the Lender thereof. 
 (b) In the event and on each occasion that the sum of the aggregate Revolving Credit Exposures
and the aggregate Competitive Loan Exposures shall exceed the aggregate Commitments, then (i) on the last day of any Interest Period applicable to any Eurocurrency Revolving Borrowing and (ii) on any other date in the event any ABR
Revolving Borrowing or Swingline Borrowing shall be outstanding, the applicable Borrowers shall prepay such Revolving Borrowing or Swingline Borrowing in an aggregate amount equal to the lesser of (A) the amount of such Revolving Borrowing or
Swingline Borrowing and (B) an amount sufficient to eliminate such excess. If, on any Reset Date, the aggregate Revolving Credit Exposures and the aggregate Competitive Loan Exposures shall exceed 105% of the aggregate Commitments then each
applicable Borrower shall, not later than the next Business Day, prepay one or more Revolving Borrowings or Swingline Borrowings in an aggregate amount sufficient to eliminate such excess over 105%. 
 (c) If, on the date of the consummation of the Spin-Off, the aggregate principal amount of outstanding Swingline Loans denominated in Sterling or Euro
exceeds US$25,000,000, the applicable Borrowers shall prepay such Swingline Borrowings in an aggregate principal amount equal to the amount sufficient to eliminate such excess. 
 (d) Prior to any optional or mandatory prepayment of Borrowings, the applicable Borrower shall select the Borrowings to be prepaid and shall specify such
selection in the notice of such prepayment pursuant to paragraph (d) below. 
  

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 (e) The Borrower Agent or the applicable Borrower shall, to the extent practicable, notify the Applicable
Agent (and in the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurocurrency Revolving Borrowing, not later than
11:00 a.m., Local Time, three Business Days (or, if the date of prepayment shall be the last day of the Interest Period applicable to such Borrowing, one Business Day) before the date of prepayment, (ii) in the case of prepayment of an ABR
Revolving Borrowing, not later than 11:00 a.m., Local Time, on the Business Day of prepayment or (iii) in the case of prepayment of a Swingline Loan, not later than 12:00 noon, New York City time, on the date of prepayment. Each such
notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of
termination of the Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any such notice relating
to a Revolving Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing
of the same Type as provided in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by
Section 2.13. 
 SECTION 2.12. Fees. (a) The Company and ASII agree, jointly and severally, to pay to the Administrative
Agent, in US Dollars, for the account of the office (or Affiliate) of each Lender from which such Lender would make Loans to the Company or ASII in US Dollars hereunder, a facility fee, which shall accrue at the Applicable Rate on the daily amount
of the Commitments of such Lender (whether used or unused) or, after the termination of the Commitments, on the Revolving Credit Exposure of such Lender, during the period from and including the date of this Agreement to but excluding the Maturity
Date; provided that, if such Lender shall continue to have any Revolving Credit Exposure after the Maturity Date, then such facility fee shall continue to accrue on the daily amount of such Lender’s Revolving Credit Exposure from and
including the Maturity Date to but excluding the date on which such Lender shall cease to have any Revolving Credit Exposure. Accrued facility fees shall be payable in arrears on the last day of March, June, September and December of each year, on
any date prior to the Maturity Date on which all the Commitments shall have terminated and on the Maturity Date, commencing on the first such date to occur after the date hereof; provided that any facility fees accruing after the Maturity
Date shall be payable on demand. All facility fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 
 (b) The Borrowers agree to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to each such
Lender’s participations in Letters of Credit, which fee shall accrue at the Applicable Rate used to determine the interest rate applicable to Eurocurrency Revolving Loans on the daily amount of such Lender’s LC Exposure (excluding any
portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the date hereof to 

  

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but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and
(ii) to each Issuing Bank a fronting fee, which shall accrue at the rate of 0.125% per annum on the average daily aggregate amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank (in each case excluding any
portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the date hereof to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as
well as such Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or the processing of drawings thereunder. Participation fees and fronting fees accrued under this paragraph through
and including the last day of March, June, September and December of each year shall be payable on the third Business Day following such last day, commencing on the first such date to occur after the date hereof; provided that all such fees
shall be payable on any date on which the Commitments shall terminate and any such fees accruing after the date on which the Commitments shall have terminated shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this
paragraph shall be payable within 10 days after demand. All participation fees and fronting fees payable under this paragraph shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day). 
 (c) Holdings, the Company and ASII agree to pay to the Administrative Agent, for its own
account, fees payable in the amounts and at the times separately agreed upon between Holdings, the Company, ASII and the Administrative Agent. 
 (d) All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Person specified above for its own account or, in the case of facility fees and participation fees paid to the Agents, for distribution to
the Lenders. Fees paid shall not be refundable under any circumstances. 
 SECTION 2.13. Interest. (a) The Loans comprising each
ABR Borrowing shall bear interest at the Alternate Base Rate. 
 (b) The Loans comprising each Eurocurrency Borrowing shall bear
interest (i) in the case of a Eurocurrency Revolving Borrowing, at the LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate or (ii) in the case of a Eurocurrency Competitive Borrowing, at the LIBO Rate
for the Interest Period in effect for such Borrowing plus (or minus, as applicable) the Margin applicable to such Borrowing. 
 (c) Each
Fixed Rate Loan shall bear interest at the Fixed Rate applicable to such Loan. 
 (d) Each Swingline Loan shall bear interest for each day at
the Swingline Base Rate in effect for such Borrowing on such day plus the Applicable Rate that would be applicable to a Eurocurrency Revolving Borrowing on such day. 
  

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

 (f) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving
Loans, upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (e) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a
prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion
of any Eurocurrency Revolving Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 
 (g) All interest hereunder shall be computed on the basis of a year of 360 days, except that (i) interest on Borrowings denominated in Sterling
and (ii) interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or, except in the case of Borrowings denominated in
Sterling, 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or LIBO Rate shall be determined by the Applicable
Agent, and such determination shall be presumed correct in the absence of facts or circumstances indicating that it has been made in error. 
 SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurocurrency Borrowing denominated in any currency: 
 (a) the Applicable Agent determines (which determination shall be presumed correct in the absence of facts or circumstances indicating
that it has been made in error) that adequate and reasonable means do not exist for ascertaining the LIBO Rate for such Interest Period; or 
 (b) the Applicable Agent is advised by the Required Lenders (or, in the case of a Eurocurrency Competitive Loan, the Lender that is required to make such Loan) that the LIBO Rate for such Interest Period will not
adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period; 
 then the Applicable Agent shall give notice thereof to the Borrower Agent and the Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Applicable Agent notifies the Borrower Agent and
the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests 

  

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the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a Eurocurrency Borrowing in such currency shall be ineffective,
and such Borrowing shall be (A) if such Borrowing is denominated in US Dollars, converted or continued on the last day of the Interest Period applicable thereto to or as an ABR Borrowing, or (B) if such Borrowing is denominated in any
other currency, converted or continued on the last day of the Interest Period applicable thereto to or as a Borrowing bearing interest at such rate as the Lenders and the Borrower Agent may agree upon (or, in the absence of such agreement, repaid as
of the last day of the current Interest Period applicable thereto), (ii) if any Borrowing Request requests a Eurocurrency Revolving Borrowing, (A) if such proposed Borrowing is denominated in US Dollars, such Borrowing shall be made as an
ABR Borrowing, or (B) if such proposed Borrowing is denominated in any Designated Foreign Currency, such Borrowing Request shall be ineffective, and (iii) any request by a Borrower for a Eurocurrency Competitive Borrowing denominated in
such currency shall be ineffective; provided that (A) if the circumstances giving rise to such notice do not affect all the Lenders, then requests by a Borrower for Eurocurrency Competitive Borrowings may be made to Lenders that are not
affected thereby and (B) if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted. 
 SECTION 2.15. Increased Costs. (a) If any Change in Law shall: 
 (i) impose,
modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Lender (except to the extent any such reserve requirement is reflected in the LIBO Rate)
or any Issuing Bank; or 
 (ii) impose on any Lender or any Issuing Bank or the London interbank market or any other market in
which Loans of any currency and Type are funded any other condition affecting this Agreement or Eurocurrency Loans or Fixed Rate Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurocurrency Loan or Fixed Rate Loan (or of maintaining
its obligation to make any such Loan) or to increase the cost to such Lender or such Issuing Bank of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or such
Issuing Bank hereunder (whether of principal, interest or otherwise), then the Borrowers will pay to such Lender or such Issuing Bank such additional amount or amounts as will compensate such Lender or such Issuing Bank, as the case may be, on a net
after-tax basis for such additional costs incurred or reduction suffered. 
 (b) If any Lender or any Issuing Bank determines in good faith
that any Change in Law regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding
company, if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which 

  

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such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have achieved but for such Change in Law (taking
into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy), then from time to time the Borrowers will pay to such
Lender or such Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered. 
 (c) If the cost to any Lender of making or maintaining any Loan to any Borrowing Subsidiary incorporated in, or conducting business in, a jurisdiction
outside the United States, or to any Issuing Bank of participating in, issuing or maintaining any Letter of Credit for the account of any such Borrowing Subsidiary, is increased or the amount of any sum received or receivable by any Lender or any
Issuing Bank (or its applicable lending office) is reduced as a result of any law, rule, regulation or action of a Governmental Authority in such jurisdiction (other than through the imposition of any Excluded Tax or other imposition expressly
excluded from the yield protection or indemnity provisions set forth herein) by an amount deemed in good faith by such Lender or such Issuing Bank to be material, such Borrowing Subsidiary shall indemnify such Lender or such Issuing Bank, as the
case may be, for such increased cost or reduction within 15 days after demand by such Lender or such Issuing Bank (with a copy to the Administrative Agent). 
 (d) A certificate of a Lender or an Issuing Bank setting forth the amount or amounts necessary to compensate such Lender or such Issuing Bank or its holding company, as the case may be, as specified in
paragraph (a), (b) or (c) of this Section and explaining in reasonable detail the method by which such amount or amounts were determined, together with supporting documentation or computations, shall be delivered to the Borrower Agent
and shall be presumed correct in the absence of facts or circumstances indicating that the determinations reflected therein have been made in error. The Borrowers shall pay such Lender or such Issuing Bank the amount shown as due on any such
certificate within 10 Business Days after receipt thereof. 
 (e) Failure or delay on the part of any Lender or any Issuing Bank to
demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s or such Issuing Bank’s right to demand such compensation; provided that the Borrowers shall not be required to compensate a Lender or an
Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than 120 days prior to the date that such Lender or such Issuing Bank notifies the Borrower Agent of the Change in Law or other event or circumstance
giving rise to such increased costs or reductions and of such Lender’s or such Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law or other event or circumstance giving rise to such
increased costs or reductions is retroactive, then the 120-day period referred to above shall be extended to include the period of retroactive effect thereof. 
 (f) Notwithstanding the foregoing provisions of this Section, a Lender shall not be entitled to compensation pursuant to this Section in respect of any 

  

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Competitive Loan if the Change in Law or other event or circumstance that would otherwise entitle it to such compensation shall have been publicly announced
prior to submission of the Competitive Bid pursuant to which such Loan was made. 
 SECTION 2.16. Break Funding Payments. In the event
of (a) the payment of any principal of any Eurocurrency Loan or Fixed Rate Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan
other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Revolving Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may
be revoked under Section 2.11(d) and is revoked in accordance therewith), (d) the failure to borrow any Competitive Loan after accepting the Competitive Bid to make such Loan, or (e) the assignment of any Eurocurrency Loan or Fixed
Rate Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower Agent pursuant to Section 2.19, then, in any such event, the applicable Borrower shall compensate each Lender for the loss,
cost and expense attributable to such event. In the case of a Eurocurrency Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest
which would have accrued on the principal amount of such Loan had such event not occurred, at the LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period
therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the
interest rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in the applicable currency of a comparable amount and period from other banks in the eurocurrency market or bill rate market, as applicable. A
certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section, together with supporting documentation or computations, shall be delivered to the applicable Borrower or to the Borrower
Agent and shall be presumed correct in the absence of facts or circumstances indicating that the determinations reflected therein have been made in error. The applicable Borrower shall pay such Lender the amount shown as due on any such certificate
within 10 Business Days after receipt thereof. 
 SECTION 2.17. Taxes. (a) Any and all payments by or on account of any
obligation of any Credit Party hereunder or under any other Credit Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that if any Credit Party shall be required to deduct any
Indemnified Taxes or Other Taxes from any such payment, then (i) the sum payable shall be increased as necessary so that after making all required deductions of Indemnified Taxes or Other Taxes (including deductions applicable to additional
sums payable under this Section) the Agent, Lender or Issuing Bank (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrowers will cause such Credit Party to make such
deductions and (iii) the Borrowers will pay or cause such Credit Party to pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 
  

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 (b) In addition, the Borrowers shall pay any Other Taxes required to be paid by them to the relevant
Governmental Authority in accordance with applicable law. 
 (c) The Borrowers shall indemnify each Agent, each Issuing Bank and each Lender,
within 10 Business Days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by such Agent, such Issuing Bank or such Lender on or with respect to any payment by or on account of any obligation of any
Credit Party hereunder or under any other Credit Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom
or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate setting forth in reasonable detail the amount and nature of such
payment or liability shall be delivered to the Borrower Agent by a Lender or an Issuing Bank, or by an Agent on its own behalf or on behalf of a Lender or an Issuing Bank and shall be presumed correct in the absence of facts or circumstances
indicating that the determinations reflected therein have been made in error. 
 (d) As soon as practicable after any payment of Indemnified
Taxes or Other Taxes by a Credit Party to a Governmental Authority, the Borrower Agent shall deliver to the Applicable Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the
return reporting such payment or other evidence of such payment reasonably satisfactory to the Applicable Agent. 
 (e) Any Foreign Lender
that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which a Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver
to the Borrower Agent (with a copy to the Applicable Agent), at the time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower Agent as will
permit such payments to be made without withholding or at a reduced rate, provided, in the case of any exemption or reduction available under the laws of a jurisdiction other than the United States, the United Kingdom or Belgium that such
Foreign Lender has received written notice from the Borrower Agent advising it of the availability of such exemption or reduction and containing all applicable documentation. 
 (f) If an Agent, an Issuing Bank or a Lender determines in good faith that it has received a refund of any Taxes or Other Taxes as to which it has been
indemnified by a Borrower or with respect to which a Borrower has paid additional amounts pursuant to this Section 2.17, it shall pay over such refund to the Borrower Agent (but only to the extent of indemnity payments made, or additional
amounts paid, by the Borrowers under this Section 2.17 with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of such Agent, such Issuing Bank or such Lender and without interest (other than any
interest paid by the relevant Governmental Authority with respect to such refund); provided, that the Borrowers, upon the request of such Agent, such Issuing Bank or such Lender, agree to repay the amount paid over to the 

  

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Borrower Agent (plus any penalties, interest or other charges imposed by the relevant Governmental Authority not resulting from the negligence of such Agent,
Issuing Bank or Lender) to such Agent, such Issuing Bank or such Lender in the event such Agent, such Issuing Bank or such Lender is required to repay such refund to such Governmental Authority. This Section shall not be construed to require any
Agent, any Issuing Bank or any Lender to make available its tax returns (or any other information relating to its taxes which it deems confidential) to any Credit Party or any other Person. 
 (g) On the date it becomes a Lender hereunder, (i) each Lender will designate a US Lending Office, a UK Lending Office and a Belgian Lending Office,
in each case for the Loans to be made by it such that, on such date, it will not be liable for any withholding tax referred to in clause (c), (d) or (e), as applicable, of the definition of “Excluded Taxes” in Article I (other than
any withholding tax that is not an Excluded Tax under the proviso to such definition). 
 SECTION 2.18. Payments Generally; Pro Rata
Treatment; Sharing of Set-offs. (a) Each Borrower shall make each payment required to be made by it hereunder or under any other Credit Document (whether of principal, interest or fees, or reimbursement of LC Disbursements, or of amounts
payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to 2:00 p.m., Local Time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the
discretion of the Applicable Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Applicable Agent to the applicable account specified on
Schedule 2.18 for the account of the applicable Lenders or, in any such case, to such other account as the Applicable Agent shall from time to time specify in a notice delivered to the Borrower Agent; provided that payments to be made to
an Issuing Bank or the Swingline Lender as expressly provided herein and payments pursuant to Sections 2.15, 2.16, 2.17 and 10.03 shall be made directly to the Persons entitled thereto. The Applicable Agent shall distribute any such payments
received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment under any Credit Document shall be due on a day that is not a Business Day, the date for payment shall be extended to
the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder of principal or interest in respect of any Loan or LC Disbursement (or of
any breakage indemnity in respect of any Loan) shall be made in the currency of such Loan or LC Disbursement; all other payments hereunder and under each other Credit Document shall be made in US Dollars, except as otherwise expressly provided. Any
payment required to be made by an Agent hereunder shall be deemed to have been made by the time required if such Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating
procedures of the clearing or settlement system used by such Agent to make such payment. Any amount payable by any Agent to one or more Lenders in the national currency of a member state of the European Union that has adopted the Euro as its lawful
currency shall be paid in Euro. 
  

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 (b) If at any time insufficient funds are received by and available to any Agent from any Borrower to pay
fully all amounts of principal, interest, unreimbursed LC Disbursements and fees then due from such Borrower hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due from such Borrower hereunder, ratably
among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due from such Borrower hereunder, ratably
among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties. 
 (c) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans or participations in LC Disbursements or Swingline Loans
resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Revolving Loans or participations in LC Disbursements or Swingline Loans and accrued interest thereon than the proportion received by any other Lender,
then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Revolving Loans or participations in LC Disbursements or Swingline Loans, as applicable, of other Lenders to the extent necessary so that
the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans or participations in LC Disbursements or Swingline Loans;
provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery,
without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by any Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements or Swingline Loans to any assignee or participant, other than to Holdings or any Subsidiary or Affiliate thereof (as to which
the provisions of this paragraph shall apply). Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may
exercise against such Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Borrower in the amount of such participation. 
 (d) Unless any Agent shall have received notice from the applicable Borrower prior to the date on which any payment is due to such Agent for the account
of any Lenders or an Issuing Bank hereunder that the applicable Borrower will not make such payment, such Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption,
distribute to such Lenders or such Issuing Bank, as applicable, the amount due. In such event, if such Borrower has not in fact made such payment, then each of the Lenders and each Issuing Bank severally agrees to repay to the Applicable Agent
forthwith on demand the amount so distributed to such Lender or Issuing Bank, as applicable, with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to such Agent, at a
rate determined by such Agent in accordance with banking industry rules on interbank compensation. 
  

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 (e) If any Lender or any Issuing Bank, as applicable, shall fail to make any payment required to be made
by it pursuant to Section 2.07(b) or paragraph (d) of this Section 2.18, then the Applicable Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by such Agent for the
account of such Lender or Issuing Bank, as applicable, to satisfy such Lender’s or Issuing Bank’s obligations under such Sections until all such unsatisfied obligations are fully paid. 
 SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender requests compensation under Section 2.15, or if any
Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17 or 2.21, then such Lender shall designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or Affiliates, if such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.15, 2.17
or 2.21, as the case may be, in the future and (ii) in the reasonable judgment of such Lender, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Each Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b) If any
Lender requests compensation under Section 2.15, or if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17 or 2.21, or if any Lender
defaults in its obligation to fund Loans hereunder, then the Borrower Agent may, at its sole expense, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and
subject to the restrictions contained in Section 10.04), all its interests, rights and obligations under this Agreement (other than any outstanding Competitive Loans held by it) to an assignee that shall assume such obligations (which assignee
may be another Lender, if a Lender accepts such assignment); provided that (i) the Borrower Agent shall have received the prior written consent of the Administrative Agent (and if a Revolving Commitment is being assigned, each Issuing
Bank and the Swingline Lender), which consent shall not unreasonably be withheld or delayed, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans (other than Competitive Loans) and
participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Borrowers (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17 or 2.21, such assignment
will result in a reduction in such compensation or payments. Nothing in this Section shall limit any right or remedy that any Borrower may otherwise have against any Lender. 
  

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 SECTION 2.20. Borrowing Subsidiaries. On or after the Effective Date, the Borrower Agent may
designate any subsidiary of the Company, Holdings or ASII as a Borrowing Subsidiary by delivery to the Administrative Agent of a Borrowing Subsidiary Agreement executed by such Subsidiary and Holdings, and upon such delivery such Subsidiary shall
for all purposes of this Agreement be a party to and a Borrowing Subsidiary under this Agreement. Upon the execution by the Borrower Agent and delivery to the Administrative Agent of a Borrowing Subsidiary Termination with respect to any Borrowing
Subsidiary, such Subsidiary shall cease to be a Borrowing Subsidiary; provided that no Borrowing Subsidiary Termination will become effective as to any Borrowing Subsidiary (other than to terminate its right to make further Borrowings or to
obtain further Letters of Credit under this Agreement) at a time when any principal of or interest on any Loan to such Borrowing Subsidiary or any Letter of Credit issued for the account of such Borrowing Subsidiary shall be outstanding hereunder,
unless the obligations of such Borrowing Subsidiary in respect of such Loan or Letter of Credit shall have been assumed by another Borrower. In the event that any Borrowing Subsidiary shall cease to be a Subsidiary, the Borrower Agent will promptly
execute and deliver to the Administrative Agent a Borrowing Subsidiary Termination terminating its status as a Borrowing Subsidiary subject to the proviso in the immediately preceding sentence. Promptly following receipt of any Borrowing Subsidiary
Agreement or Borrowing Subsidiary Termination, the Administrative Agent shall send a copy thereof to each Lender. 
 SECTION 2.21.
Additional Reserve Costs. (a) If and so long as any Lender is required after the date hereof to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of such
Lender’s Eurocurrency Loans in any Designated Foreign Currency, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum
equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit C hereto. 
 (b) If and so
long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (including any such requirement imposed by the Board or by European Central Bank or the European System of
Central Banks, but excluding requirements reflected in the Mandatory Costs Rate) in respect of any of such Lender’s Eurocurrency Loans, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on
each of such Lender’s Eurocurrency Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan.

 (c) Any additional interest owed pursuant to paragraph (a) or (b) above shall be determined by the relevant Lender, which
determination shall be presumed correct in the absence of facts or circumstances indicating that it has been made in error, and notified to the relevant Borrower (with a copy to the Applicable Agent) at least five Business Days before each date on
which interest is payable for the relevant Loan, and such additional interest so notified to the relevant Borrower by such Lender shall be payable to the Applicable Agent for the account of such Lender on each date on which interest is payable for
such Loan. 
  

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 SECTION 2.22. Redenomination of Certain Designated Foreign Currencies. (a) Each obligation of
any party to this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such
adoption (in accordance with the EMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or
practice in the London Interbank Market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its
lawful currency; provided that if any Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such Borrowing, at the end of the then current Interest
Period. 
 (b) Without prejudice and in addition to any method of conversion or rounding prescribed by any EMU Legislation and
(i) without limiting the liability of any Borrower for any amount due under this Agreement and (ii) without increasing any Commitment of any Lender, all references in this Agreement to minimum amounts (or integral multiples thereof)
denominated in the national currency unit of any member state of the European Union that adopts the Euro as its lawful currency after the date hereof shall, immediately upon such adoption, be replaced by references to such minimum amounts (or
integral multiples thereof) as shall be specified herein with respect to Borrowings denominated in Euro. 
 (c) Each provision of this
Agreement shall be subject to such reasonable changes of construction as the Administrative Agent and the Borrower Agent, acting jointly, may from time to time specify to be appropriate to reflect the adoption of the Euro by any member state of the
European Union and any relevant market conventions or practices relating to the Euro. 
 ARTICLE III 
 Representations and Warranties 
 Holdings represents and warrants to the Lenders as to itself and each Subsidiary, and the Company, ASII and each other Borrowing Subsidiary represents and warrants to the Lenders as to itself and its subsidiaries, as follows (it being
understood that each reference in this Article III to the Credit Parties shall include, on any date as of which the representations and warranties set forth herein are made or deemed made, only those Persons that are Credit Parties on such date):

 SECTION 3.01. Organization and Qualification. Each Credit Party and each Material Subsidiary is duly organized, validly existing
and in good standing (to the extent such concept is relevant to such Person in its jurisdiction of organization) under 

  

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the laws of the jurisdiction of its organization, has full and adequate corporate power to carry on its business as now conducted and is duly licensed or
qualified and, to the extent relevant, in good standing in each jurisdiction in which the nature of the business transacted by it or the nature of the Property owned or leased by it makes such licensing or qualification necessary, except where such
failure to be so licensed or qualified and in good standing does not constitute and would not result in a Material Adverse Effect. 
 SECTION
3.02. Corporate Authority and Validity of Obligations. Each Credit Party has the corporate, company or partnership power and authority to consummate the Transactions, to enter into this Agreement and each other Credit Document to which it is
a party, to make the Borrowings to be made by it hereunder, to issue its notes in evidence thereof and to perform all its obligations hereunder and under each other Credit Document to which it is a party. The execution, delivery and performance of
this Agreement and the other Credit Documents have been duly authorized by all necessary corporate, company or partnership action of the Credit Parties, and this Agreement and the other Credit Documents constitute valid and binding obligations of
the Credit Parties, enforceable in accordance with their terms, subject to bankruptcy, insolvency and similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity. None of this Agreement, any other
Credit Document or the Transactions (i) will contravene any charter or by-law provision of any Credit Party, (ii) will contravene any provision of law or of any regulation or order of any Governmental Authority or any judgment, or any
material covenant, indenture or agreement of or affecting any Credit Party or a substantial portion of the Properties of any Credit Party where such contravention referred to in this clause (ii) would reasonably be expected to result in a
Material Adverse Effect or to affect materially and adversely the rights or interests of any Agent, Issuing Bank or Lender, or (iii) result in the creation of any Lien upon any material Property or asset of any Credit Party or Subsidiary.

 SECTION 3.03. Margin Stock. None of Holdings, any other Credit Party or any other Material Subsidiary is engaged principally, or as
one of its primary activities, in the business of extending credit for the purpose of purchasing or carrying Margin Stock, and neither the proceeds of any Loan nor any Letter of Credit will be used in a manner that violates any provision of
Regulation U or X of the Board. 
 SECTION 3.04. Financial Reports. The consolidated balance sheet of Holdings and the
Subsidiaries and the related consolidated statements of earnings, shareholders’ equity and cash flows of Holdings and the Subsidiaries and accompanying notes thereto (i) as at December 31, 2006, and for the year then ended, which
financial statements are accompanied by the report of Ernst & Young LLP, and (ii) as at March 31, 2007, and for the fiscal quarter then ended, certified by Holdings through its Chief Financial Officer, heretofore furnished to the
Administrative Agent, fairly present in all material respects the consolidated financial condition of Holdings and the Subsidiaries as at such dates and their consolidated results of operations, shareholders’ equity and cash flows for the
periods then ended in conformity with GAAP, subject to year-end adjustments and the absence of footnotes in the case of the statements referred to in clause (ii) above. 
  

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 SECTION 3.05. No Material Adverse Effect. Since December 31, 2006, there has not occurred or
become known any Material Adverse Effect. 
 SECTION 3.06. Litigation. There is no litigation or governmental proceeding pending, or
to the knowledge of Holdings or any Material Subsidiary threatened, against Holdings or any Material Subsidiary which if adversely determined could (a) impair the validity or enforceability of, or materially impair the ability of Holdings or
any other Credit Party to perform its obligations under, this Agreement or any other Credit Document or (b) except as disclosed on Schedule 3.06 or in Holdings’ reports on Form 10-K and 10-Q filed with the SEC through
March 31, 2007, result in any Material Adverse Effect. 
 SECTION 3.07. Tax Returns. Holdings has filed all Tax returns and
reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which Holdings has set aside on its
books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. 
 SECTION 3.08. Approvals. No authorization, consent, license, exemption, filing or registration with any court or governmental department, agency or instrumentality, or any other Person, is necessary to the
consummation of the Transactions or the valid execution, delivery or performance by any Credit Party of this Agreement or any other Credit Document except for those obtained on or before the Effective Date or those the failure of which to obtain
would not individually or in the aggregate reasonably be expected to result in a Material Adverse Effect. 
 SECTION 3.09. ERISA.
Holdings and each Subsidiary is in compliance in all material respects with the Employee Retirement Income Security Act of 1974 (“ERISA”) to the extent applicable to it and has received no notice to the contrary from the Pension
Benefit Guaranty Corporation or any successor thereto (“PBGC”) or any other governmental entity or agency. No condition exists or event or transaction has occurred under or relating to any Plan which could reasonably be expected to
result in the incurrence by Holdings or any Subsidiary of any material liability, fine or penalty. Neither Holdings nor any Subsidiary has any contingent liability for any post-retirement benefits under a Welfare Plan that would reasonably be
expected to result in a Material Adverse Effect. 
 SECTION 3.10. Environmental Matters. Except as set forth on Schedule 3.10 or
in Holdings’ reports on Form 10-K and 10-Q filed with the SEC, and except with respect to any other matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, none of Holdings
and the Material Subsidiaries (a) has failed to comply with any Environmental Laws or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Laws, (b) has become subject to any liability
under any Environmental Laws, (c) has received written notice of any claim with respect to any Environmental Laws or (d) knows of any basis for any liability under any Environmental Laws. 
  

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 SECTION 3.11. Properties. (a) Holdings and each Material Subsidiary has good title to, or
valid leasehold interests in, all its real and personal property material to its business, subject only to Liens permitted by Section 6.01 and except for defects in title or property the absence of which would not individually or in the
aggregate reasonably be expected to result in a Material Adverse Effect. 
 (b) Holdings and each Material Subsidiary owns, or is licensed to
use, all trademarks, tradenames, copyrights, patents and other intellectual property material to its business, and the use thereof by it does not infringe upon the rights of any other Person, except for any such defects in ownership or license
rights or other infringements that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. 
 SECTION 3.12. Compliance with Laws. Holdings and each Material Subsidiary is in compliance with all laws, regulations and orders of each Governmental Authority applicable to it or its property (a) except where the failure to be
in compliance, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect and (b) except for violations of law solely with respect to the European Commission matter regarding possible infringements
of European Union competition rules by Holdings, certain European Subsidiaries of Holdings and a number of unaffiliated companies, as disclosed in the Form 10 (the “EC Matter”). 
 SECTION 3.13. Investment Company Status. None of Holdings and its Subsidiaries is an “investment company” as defined in, or subject to
regulation under, the Investment Company Act of 1940. 
 SECTION 3.14. Disclosure. Neither the Information Memorandum nor any of the
other reports, financial statements, certificates or other information furnished in writing by or on behalf of Holdings or any Subsidiary to any Agent, Issuing Bank or Lender in connection with the negotiation of this Agreement or any other Credit
Document or delivered hereunder or thereunder, as of the date furnished and taken together with all other information so furnished or included in reports filed by Holdings with the SEC on or prior to such date, contained or will contain any material
misstatement of fact or omitted or will omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading. All projections and other forward looking
information contained in the Information Memorandum and any of the other reports, financial statements, certificates or other information furnished by or on behalf of Holdings or any Subsidiary to any Agent, Issuing Bank or any Lender in connection
with the negotiation of this Agreement or any other Credit Document, or delivered hereunder or thereunder (as modified or supplemented from time to time by other information so furnished) have been prepared by Holdings or such Subsidiary in good
faith based upon assumptions that were reasonable at the time made and at the time such projections and other information were furnished. 

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 ARTICLE IV 
 Conditions 
 SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans, and
of the Issuing Banks to issue Letters of Credit, hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 10.02): 
 (a) The Administrative Agent (or its counsel) shall have received from each party hereto or to any other Credit Document either (i) a
counterpart of this Agreement or such Credit Document signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission or electronic imaging of a signed signature page of
this Agreement or such Credit Document) that such party has signed a counterpart of this Agreement or such Credit Document. 
 (b) The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent, the Issuing Banks, the Swingline Lender and the Lenders and dated the Effective Date) of each of (i) Mary Elizabeth
Gustafsson, General Counsel of the Company, substantially in the form of Exhibit D-1 hereto, (ii) McDermott Will & Emery LLP, counsel for the Borrowers, substantially in the form of Exhibit D-2 hereto, and
(iii) DeWolf & Partners, Belgian counsel for the Belgian Borrowing Subsidiaries, in such form as shall be acceptable to the Administrative Agent. Each Credit Party hereby requests such counsel to deliver such opinions. 
 (c) The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably
request relating to the organization, existence and good standing (to the extent such concept is relevant to such Person in its jurisdiction of organization) of each Credit Party (other than any Credit Party that is a Non-US Subsidiary, to the
extent such matters are covered by legal opinions referred to in (b) above) and the authorization of the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 
 (d) The Administrative Agent shall have received a certificate, dated the Effective Date and signed by the President, a Vice President or
a Financial Officer of Holdings, confirming compliance with the conditions set forth in paragraphs (f) and (g) of this Section 4.01 and paragraph (b) of Section 4.02. 
 (e) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including,
to the extent invoiced, reimbursement or payment of all reasonable out-of-pocket expenses required to be reimbursed or paid by Holdings or the Borrowers hereunder. 
  

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 (f) The representations and warranties of the Credit Parties set forth in Article III
shall be true and correct in all material respects (except that any representation given as of a particular date shall be true and correct in all material respects as of such date) and no Default shall have occurred and be continuing. 
 (g) The 364-Day Credit Agreement shall have been executed and shall be in full force and effect substantially contemporaneously with the
effectiveness of this Agreement. 
 (h) The Existing Credit Agreement shall have been terminated and all amounts outstanding
or accrued for the accounts of or otherwise owed to the lenders thereunder shall have been paid in full. 
 (i) The
Administrative Agent, each Issuing Bank and each Lender shall have received each financial statement or report referred to in Section 3.04. 
 The Administrative Agent shall notify the Credit Parties, the Lenders and the Issuing Banks of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the Lenders hereunder
shall not become effective unless each of the foregoing conditions shall have been satisfied (or waived pursuant to Section 10.02) at or prior to 5:00 p.m., New York City time, on August 15, 2007 (and, in the event such
conditions are not so satisfied or waived, the Commitments shall terminate at such time). 
 SECTION 4.02. Each Borrowing. The
obligation of each Lender to make Loans, and of the Issuing Banks to issue, increase or extend Letters of Credit, as part of each Credit Event that increases any Revolving Credit Exposure or the Competitive Loan Exposure of any Lender is subject to
the satisfaction or waiver of the following conditions (which conditions, insofar as they apply to any Competitive Loan, may be waived by the Lender that is to make such Competitive Loan): 
 (a) The representations and warranties of the Credit Parties set forth in Article III (other than those set forth in Sections 3.05, 3.06
and 3.12(b)) shall be true and correct in all material respects on and as of the date of such Credit Event (except to the extent such representations and warranties by their terms relate to an earlier date, in which case they shall be true and
correct in all material respects on and as of such earlier date). 
 (b) At the time of and immediately after giving effect to
such Credit Event, no Default shall have occurred and be continuing. 
 (c) Subject to the final sentence of
Section 6.07, with respect to any Credit Event following any Liquidity Determination Date, Holdings shall have delivered the certificate required under Section 5.05(i) demonstrating compliance with the requirements of Section 6.07.

 Each Credit Event that increases any Revolving Credit Exposure or the Competitive Loan Exposure of any Lender shall be deemed to constitute a
representation and warranty by Holdings and each Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section. 
  

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 SECTION 4.03. Initial Borrowing by each Borrowing Subsidiary. The obligation of each Lender to
make Loans to or issue Letters of Credit for the account of any Borrowing Subsidiary is subject to the satisfaction (or waiver in accordance with Section 10.02) of the following conditions: 
 (a) The Administrative Agent (or its counsel) shall have received such Borrowing Subsidiary’s Borrowing Subsidiary Agreement, duly
executed by all parties thereto. 
 (b) The Administrative Agent shall have received (i) a certificate of the secretary
or assistant secretary of such Borrowing Subsidiary containing (A) copies of the certificate of incorporation and by-laws or other organizational documents of such Borrowing Subsidiary, certified to be complete and correct copies thereof;
(B) a copy of the resolutions authorizing the Transactions insofar as they relate to such Borrowing Subsidiary, certified to be complete, correct and in full force and effect; (C) certification as to the incumbency and signatures of the
officers signing the applicable Borrowing Subsidiary Agreement; and (D) evidence of the incumbency of such secretary or assistant secretary; (ii) evidence of the existence and good standing (to the extent such concept is relevant to such
Borrowing Subsidiary in its jurisdiction of organization) of such Borrowing Subsidiary; and (iii) to the extent requested by the Administrative Agent, opinions of counsel, all in form and substance reasonably satisfactory to the Administrative
Agent and its counsel. 
 ARTICLE V 
 Affirmative Covenants 
 Until the Commitments have expired or terminated and the principal of and interest on each Loan and
all fees payable hereunder have been paid in full, and all Letters of Credit have been canceled or have expired and all amounts drawn thereunder have been reimbursed in full, each of Holdings, the Company and ASII, and each Borrowing Subsidiary
covenants and agrees with the Lenders (but, in the case of each Borrowing Subsidiary, only as to such Borrowing Subsidiary and its own subsidiaries), that: 
 SECTION 5.01. Corporate Existence. Holdings, the Company, ASII and each Borrowing Subsidiary will, and will cause each other Material Subsidiary to, preserve and maintain its corporate existence, subject to the
provisions of Section 6.03. 
 SECTION 5.02. Maintenance of Properties. Holdings will, and will cause each Subsidiary to,
maintain, preserve and keep its Properties necessary to the proper conduct of its business in reasonably good repair, working order and condition (ordinary wear and tear and damage by casualty excepted) and will from time to time make all 

  

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necessary repairs, renewals, replacements, additions and betterments thereto so that at all times such Property shall be reasonably preserved and maintained,
except, in each case, to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect; provided, however, that nothing in this Section 5.02 shall prevent Holdings or a Subsidiary
from discontinuing the operation or maintenance of any such Property if such discontinuance is, in the judgment of Holdings, desirable in the conduct of its business or the business of the Subsidiary. 
 SECTION 5.03. Taxes. Holdings will duly pay and discharge, and will cause each Subsidiary to pay and discharge, all material taxes, rates,
assessments, fees and governmental charges upon or against Holdings or such Subsidiary or against their respective Property, in each case before the same become delinquent and before penalties accrue thereon, unless and to the extent that the
same are being contested in good faith and by appropriate proceedings and adequate reserves under GAAP are provided therefor. 
 SECTION
5.04. Insurance. Holdings will insure, and keep insured, and will cause each Subsidiary to insure, and keep insured, with reputable insurance companies, such of its insurable Property as is of a character usually insured by companies
similarly situated and operating like Property to the extent insurance is available on commercially reasonable terms. To the extent usually insured (subject to self-insured retentions) by companies similarly situated and conducting similar
businesses, and to the extent insurance is available on commercially reasonable terms, Holdings will also insure, and cause each Subsidiary to insure, employers’ and public and product liability risks with reputable insurance companies.

 SECTION 5.05. Financial Reports and Other Information. Holdings will, and will cause each Subsidiary to, maintain a standard system
of accounting substantially in accordance with GAAP and will furnish to the Lenders and their respective duly authorized representatives such information respecting the business and financial condition of Holdings and the Subsidiaries as they may
reasonably request; and without any request will furnish to the Administrative Agent, which will make available by means of electronic posting to each Lender: 
 (a) within 15 days of each date Holdings is required to file a report on Form 10-K for any fiscal year with the SEC, its audited
consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by
Ernst & Young LLP or other independent public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to
the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Holdings and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP
consistently applied; 
  

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 (b) within 15 days of each date Holdings is required to file a report on Form 10-Q
for any fiscal quarter with the Securities and Exchange Commission, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed
portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its
Financial Officers as presenting fairly in all material respects the financial condition and results of operations of Holdings and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal
year-end audit adjustments and the absence of footnotes; 
 (c) concurrently with any delivery of financial statements under
clause (a) or (b) above, a certificate of a Financial Officer of Holdings (i) certifying as to whether a Default has occurred since the date of the most recent certificate delivered under this paragraph and, if a Default has occurred,
specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance with Sections 6.05 and 6.06 and setting forth in reasonable
detail computations of the ratio of Consolidated Total Debt to Consolidated EBITDA, the ratio of Consolidated EBITDA to Consolidated Interest Expense and Consolidated Net Tangible Assets and (iii) stating whether any change in GAAP or in the
application thereof has occurred since the date of the audited financial statements referred to in Section 3.04 and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such
certificate; 
 (d) promptly after the same become publicly available, copies of all periodic and other reports (including all
reports on Form 10-K, Form 10-Q and Form 8-K), proxy statements and other materials filed by Holdings or any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national
securities exchange, or distributed by Holdings to its shareholders generally, as the case may be; 
 (e) promptly following
any request therefor, such other information regarding the operations, business affairs and financial condition of Holdings or any Subsidiary, or compliance with the terms of this Agreement, as the Administrative Agent, any Issuing Bank or any
Lender acting through the Administrative Agent may reasonably request; 
 (f) prompt written notice (including a description
in reasonable detail) of (i) the occurrence of any Default; (ii) the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against Holdings, any Subsidiary or any Affiliate thereof
that could reasonably be expected to result in a Material Adverse Effect; (iii) the occurrence of any “prohibited transaction” (as defined in ERISA) that would reasonably be expected to result in a Material Adverse Effect and
(iv) any other development that results in, or would reasonably be expected to result in, a Material Adverse Effect. Each 

  

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notice delivered under this paragraph shall be accompanied by a statement of a Financial Officer or other executive officer of Holdings setting forth a
summary in reasonable detail of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto; 
 (g) within five Business Days after Holdings or the Company has knowledge thereof, notice of any change to any Index Rating by S&P or Moody’s; 
 (h) within four Business Days after Holdings or any Subsidiary receives notice of any judgment of any Governmental Authority rendered in
connection with the EC Matter (an “EC Judgment”), written notice thereof, including detailed information relating to such EC Judgment and the payment requirements related thereto; and 
 (i) subject to the final sentence of Section 6.07, on the third Business Day prior to any EC Payment Date, a certificate
demonstrating compliance with Section 6.07 as of the related Liquidity Determination Date, including detailed information regarding each component of Consolidated Liquidity and Unrestricted Cash and Cash Equivalents. 
 Information required to be delivered pursuant to the clauses above shall be deemed to have been delivered if such information, or one or more annual or quarterly reports
containing such information, shall have been posted on the Company’s website on the Internet at http://www.americanstandard.com (or such other address as the Company shall provide to the Lenders) or by the Administrative Agent on an IntraLinks
or similar site to which the Lenders have been granted access or shall be available on the website of the Securities and Exchange Commission at http://www.sec.gov (and a confirming electronic correspondence shall have been delivered or caused to be
delivered to the Administrative Agent and each Lender providing notice of such posting or availability). 
 Each of the financial statements
furnished to the Lenders pursuant to subsections (a) and (b) of this Section 5.05 shall be accompanied by a compliance certificate in substantially the form of Exhibit E signed by a Financial Officer of Holdings. 
 SECTION 5.06. Books and Records; Inspection Rights. Holdings will, and will cause each of its Subsidiaries to, permit any representatives
designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers
and independent accountants, all on reasonable terms and conditions and during normal business hours. 
 SECTION 5.07. Compliance with
Laws. Holdings will, and will cause each of its Subsidiaries to, comply with all laws, rules, regulations and orders of each Governmental Authority applicable to it or its property, including all Environmental Laws, except where the failure to
do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
  

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 ARTICLE VI 
 Negative Covenants 
 Until the Commitments have expired or terminated and the principal of and
interest on each Loan and all fees payable hereunder have been paid in full, and all Letters of Credit have been canceled or have expired and all amounts drawn thereunder have been reimbursed in full, each of Holdings, the Company and ASII, and each
Borrowing Subsidiary covenants and agrees with the Lenders (but, in the case of each Borrowing Subsidiary, only as to such Borrowing Subsidiary and its own subsidiaries), that none of Holdings or any Subsidiary will: 
 SECTION 6.01. Liens. Directly or indirectly create, incur, assume or permit to exist any Lien securing Indebtedness upon or with respect to any of
its property or assets, whether now owned or hereafter acquired, except: 
 (a) Permitted Encumbrances; 
 (b) Liens created under this Agreement or under any pledge agreement entered into pursuant to Section 10.17 or pursuant to
Section 10.17 of the 364-Day Credit Agreement; 
 (c) Liens existing on the date hereof and set forth on Schedule 6.01
and any replacements thereof; provided that (i) no such Lien shall apply to any other property or assets of Holdings or any Subsidiary other than improvements and accessions to the subject assets and proceeds thereof and (ii) no
such Lien shall secure obligations other than those which it secured on the date hereof and permitted extensions, renewals and replacements thereof; 
 (d) Liens on assets existing at the time such assets are acquired by Holdings or a Subsidiary and any replacements thereof; provided that (i) no such Lien is created in contemplation of or in connection
with such acquisition, (ii) no such Lien shall apply to any other property or assets of Holdings or any Subsidiary other than improvements and accessions to the subject assets and proceeds thereof and (iii) no such Lien shall secure
obligations other than those which it secures on the date of such acquisition and permitted extensions, renewals and replacements thereof; 
 (e) Liens on assets of any Person at the time such Person becomes a Subsidiary and any replacements thereof; provided that (i) no such Lien is created in contemplation of or in connection with such Person
becoming a Subsidiary, (ii) no such Lien shall apply to any other property or assets of Holdings or any Subsidiary other than improvements and accessions to the subject assets and proceeds thereof and (iii) no such Lien shall secure
obligations other than those which it secures on the date such Person becomes a Subsidiary and permitted extensions, renewals and replacements thereof; 
  

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 (f) Liens securing Indebtedness incurred to finance the purchase, of property, plant or
equipment acquired after the date hereof to the extent such Liens attach only to such property, plant or equipment and improvements and accretions thereto and are created at the time of or within 180 days after the acquisition of such property,
plant, equipment, improvements or accretions, as the case may be, and any replacements thereof; provided that no such Lien shall apply to any other property or assets of Holdings or any Subsidiary other than improvements and accessions
to the subject property or assets and proceeds thereof; 
 (g) customary Liens arising from or created in connection with the
issuance of trade letters of credit for the account of the Company or any Subsidiary supporting obligations not constituting Indebtedness; provided that such Liens encumber only the raw materials, inventory, machinery or equipment in
connection with the purchase of which such letters of credit are issued; 
 (h) Liens on assets associated with sales offices
purchased from third parties by Holdings or the Subsidiaries and securing Indebtedness of Holdings or the Subsidiaries issued as consideration for such purchases; 
 (i) Liens on assets of Subsidiaries securing obligations owed to Holdings or one or more other Subsidiaries (other than Liens existing or
deemed to exist in connection with Securitization Transactions); provided that no such Lien shall be created in favor of any person other than Holdings or a Subsidiary; 
 (j) to the extent such transactions are not structured as true sales of accounts receivable, Liens existing or deemed to exist in
connection with (i) Existing Receivables Programs in an aggregate amount not greater than the aggregate amount (i.e., the greater of the commitment amount and the outstanding amount thereunder) of the Existing Receivables Programs as of the
Effective Date, and (ii) other Securitization Transactions in an aggregate amount not greater at any time than US$250,000,000; 
 (k) to the extent such transactions are not structured as true sales of accounts receivable, Liens existing or deemed to exist in connection with Securitization Transactions (other than the Existing Receivables Programs permitted under
clause (i) of paragraph (j) above) in an aggregate amount greater than US$250,000,000; provided, that, to the extent such Liens are not permitted under paragraph (l) below, at the time of any such creation or deemed creation of
a Lien, the Commitments shall be reduced pursuant to Section 2.09(b), and any outstanding Loans shall be prepaid pursuant to Section 2.11(a), in an amount equal to such excess; 
  

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 (l) Liens securing or deemed to exist in connection with Indebtedness in an aggregate
principal amount that, taken together with the aggregate Subsidiary Indebtedness permitted under Section 6.02(i), without duplication, does not exceed the greater of US$250,000,000 and 15% of Consolidated Net Tangible Assets as of the end of
the most recent fiscal quarter for which financial statements have been delivered pursuant to Section 5.05(a) or (b); and 
 (m) Liens securing judgments entered against Holdings or the Subsidiaries so long as such judgments have not resulted in Events of Default under paragraph (i) of Article VII. 
 SECTION 6.02. Subsidiary Indebtedness. Permit any Subsidiary (other than the Company or ASII) to Incur any Indebtedness or to issue any preferred
stock or other preferred equity securities except: 
 (a) the Obligations or Guarantees under any guarantee agreement entered
into pursuant to Section 10.17 or pursuant to Section 10.17 of the 364-Day Credit Agreement; 
 (b) Indebtedness
existing on the date hereof and set forth on Schedule 6.02 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof or result in an earlier maturity date or decreased weighted
average life thereof; 
 (c) Indebtedness, preferred stock or preferred equity securities of Subsidiaries existing at the time
they become Subsidiaries and not incurred in contemplation of their becoming Subsidiaries; 
 (d) Indebtedness (or preferred
stock or preferred equity securities) representing the purchase price, or incurred to finance the purchase, of property, plant or equipment acquired after the date hereof or secured by a Lien on any such property, plant or equipment prior to the
acquisition thereof to the extent such Lien attaches only to such property, plant or equipment and improvements and accretions thereto; 
 (e) Indebtedness owed to Holdings or one or more other Subsidiaries (or preferred stock or preferred equity securities; provided that such preferred stock or preferred equity securities are owned by Holdings or
one or more Subsidiaries); provided that no Lien on any such Indebtedness (or preferred stock or preferred equity securities) shall be created in favor of any Person other than Holdings or a Subsidiary; 
 (f) Indebtedness deemed to exist as a result of Securitization Transactions permitted under clauses (j) and (k) of
Section 6.01; 
 (g) Indebtedness in connection with overdrafts, in the ordinary course of business, under Cash Pooling
Arrangements; 
  

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 (h) Indebtedness, preferred stock or other preferred equity securities of any Non-US
Subsidiary, including any extensions, renewals and replacements of any such Indebtedness that do not result in an earlier maturity date or decreased weighted average life thereof, in an aggregate amount not to exceed US$250,000,000 at any time
outstanding; and 
 (i) other Indebtedness that, taken together with the aggregate Indebtedness secured by Liens permitted
under Section 6.01(l), without duplication, does not exceed the greater of US$250,000,000 and 15% of Consolidated Net Tangible Assets as of the end of the most recent fiscal quarter for which financial statements have been delivered pursuant to
Section 5.05(a) or (b). 
 SECTION 6.03. Fundamental Changes. (a) In the case of Holdings or any Material Subsidiary, merge
with or into or consolidate with any other Person, or liquidate or dissolve, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of related transactions) all or substantially all of the consolidated assets of Holdings
and the Subsidiaries (whether now owned or hereafter acquired and whether directly or through any merger or consolidation of, or any issuance, sale, transfer, lease or other disposition of equity interests in, any Subsidiary) except that if at the
time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing, (i) any Person may merge into Holdings in a transaction in which Holdings is the surviving corporation, (ii) any Person (other than
the Company or ASII) may merge into any Subsidiary in a transaction in which the surviving entity is a Subsidiary, (iii) the Company or ASII may merge into any Subsidiary in a transaction in which the surviving entity assumes the Obligations of
the Company or ASII, as the case may be, under the Credit Agreement, (iv) any Subsidiary (other than the Company or ASII) may liquidate or dissolve if Holdings determines in good faith that such liquidation or dissolution is in the best
interests of Holdings and the Subsidiaries and is not materially disadvantageous to the Lenders, (v) any sale of assets (or stock of a Subsidiary) permitted hereunder may be effected through the merger or consolidation of one or more Material
Subsidiaries (other than the Company, ASII or any Borrowing Subsidiary) in a transaction in which the surviving person is not a Subsidiary and (vi) Holdings shall be permitted to consummate the Spin-Off substantially in accordance with the
terms of the Form 10 as in effect on the date hereof, as such terms may be hereafter modified (but not in a manner materially adverse to the rights and interests of the Lenders hereunder), and to consummate the B&K Sale. 
 (b) Sell, transfer, lease or otherwise dispose of (in one transaction or in a series of related transactions) to any Person other than Holdings or a
Subsidiary, assets (other than assets sold pursuant to any Securitization Transaction, including the Existing Receivables Programs) with an aggregate fair market value during any fiscal year greater than 25% of the Consolidated Total Assets of
Holdings at the end of the immediately preceding fiscal year; provided that Holdings shall be permitted to consummate the Spin-Off substantially in accordance with the terms of the Form 10 as in effect on the date hereof, as such terms may be
hereafter modified (but not in a manner materially adverse to the rights and interests of the Lenders hereunder), and to consummate the B&K Sale; provided further that, (i) the consummation of the Spin-Off and the B&K Sale shall
not 

  

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be deemed to utilize the 25% basket in the fiscal year(s) in which they occur and (ii) in the event the Spin-Off or the B&K Sale is consummated, and
only for purposes of the preceding calculation, the Consolidated Total Assets of the Holdings and the Subsidiaries as of the last day of the fiscal year immediately preceding the Spin-Off or the B&K Sale, as applicable, shall be calculated on a
pro forma basis for the consummation of the Spin-Off or the B&K Sale, as the case may be, as if it had occurred on the last day of such fiscal year immediately preceding the year in which the Spin-Off or the B&K Sale, as applicable,
is consummated. 
 (c) Alter in a fundamental manner the character of the business of Holdings and its Subsidiaries taken as a whole from
that conducted immediately prior to the date hereof (it being understood that (i) the entry into other industrial businesses or businesses reasonably related, similar or ancillary to any of the businesses conducted by Holdings or its
Subsidiaries as of the date hereof shall not be considered a fundamental alteration, and (ii) Holdings shall be permitted to consummate the Spin-Off substantially in accordance with the terms of the Form 10 as in effect on the date hereof, as
such terms may be hereafter modified (but not in a manner materially adverse to the rights and interests of the Lenders hereunder) and to consummate the B&K Sale). 
 SECTION 6.04. Use of Proceeds. Use the proceeds of the Loans or the Letters of Credit for any purpose other than the purposes set forth in the preamble to this Agreement, or use any part of the proceeds of any
Loan, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations U and X. Permit more than 25% of the value of the assets of Holdings and the Subsidiaries which are
subject to any arrangement hereunder restricting the ability of Holdings or such Subsidiary to sell, pledge or otherwise dispose of assets to consist of Margin Stock. 
 SECTION 6.05. Ratio of Consolidated Total Debt to Consolidated EBITDA. Permit the ratio of (i) Consolidated Total Debt of Holdings on the last day of any fiscal quarter to (ii) Consolidated EBITDA of
Holdings for the period of four consecutive fiscal quarters ending on such day to exceed 3.25 to 1.00. 
 SECTION 6.06. Ratio of
Consolidated EBITDA to Consolidated Interest Expense. Permit the ratio of (i) Consolidated EBITDA of Holdings to (ii) Consolidated Interest Expense of Holdings, in each case for any period of four consecutive fiscal quarters, to
be less than 2.50 to 1.00. 
 SECTION 6.07. Liquidity. On any Liquidity Determination Date, permit Consolidated Liquidity (reduced by
the amount of the maximum payment required in connection with any EC Judgment, but net of the aggregate amount of any payments made by, or bond or letter of credit posted by or issued on behalf of, WABCO or its subsidiaries in respect of such EC
Judgment) to be less than US$200,000,000. Notwithstanding the foregoing, in the event that WABCO has fully satisfied any EC Judgment, then neither the provisions of this Section 6.07 nor the related provisions of Sections 4.02(c) or 5.05(i)
shall apply to such EC Judgment; provided that if any other EC Judgment shall be rendered, the provisions of this Section 6.07 and Sections 4.02(c) and 5.05(i) shall apply to such other EC Judgment. 
  

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 ARTICLE VII 
 Events of Default 
 Events of Default. If any of the following events (“Events of
Default”) shall occur: 
 (a) (i) any Borrower shall default in the payment when due of any principal on any
Loan or any reimbursement obligation in respect of any LC Disbursement, whether at the stated maturity thereof or at any other time provided in this Agreement, or (ii) any Borrower shall default for a period of three days in the payment when
due of interest on any Loan or LC Disbursement or of any other sum required to be paid pursuant to this Agreement; 
 (b)
Holdings or any Borrower shall default in the observance or performance of any of the covenants set forth in Section 5.01 (with respect to Holdings’, the Company’s or ASII’s existence) or 5.05(g) or in Article VI;

 (c) any Borrower shall default in the observance or performance of any provision hereof or of any other Credit Document not
mentioned in (a) or (b) above, which default is not remedied within 30 days (or 60 days if (x) such default is capable of being cured, (y) a cure of such default will require more than 30 days and (z) the applicable Borrower
is proceeding to effect a cure of such default) after notice thereof to the Company by the Administrative Agent or any Lender; 
 (d) any representation or warranty made (or deemed made) herein or in any other Credit Document by any Credit Party, or in any statement or certificate furnished by any Credit Party pursuant hereto or in connection with any Credit Event,
proves untrue in any material respect as of the date of the making (or deemed making) thereof; 
 (e) Holdings or any
Subsidiary shall default in the payment when due, after any applicable grace period, of any Material Indebtedness (other than Material Indebtedness owed to Holdings or a Subsidiary); or there shall occur any default or other event under any
indenture, agreement or other instrument under which any Material Indebtedness is outstanding and such default or event shall result in the acceleration of the maturity or the required redemption or repurchase of such Material Indebtedness (or, in
the case of any such Material Indebtedness under any Hedging Agreement, the early termination of or any required payment under such Hedging Agreement); 
 (f) any “reportable event” (as defined in ERISA) that constitutes grounds for the termination of any Plan by the PBGC, or for the appointment by an appropriate court of a trustee to administer or
liquidate any Plan, or that could 

  

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reasonably be expected to result in a Material Adverse Effect, shall have occurred and shall be continuing 30 days after written notice to such effect shall
have been given to the Company by the Administrative Agent; or any Plan shall be terminated by the PBGC; or a trustee shall be appointed to administer any Plan; or the PBGC shall institute proceedings to administer or terminate any Plan; and in the
case of any such event the aggregate amount of unfunded liabilities payable by Holdings and its Subsidiaries under any affected Plan shall exceed (either singly or in the aggregate in the case of any such liability arising under more than one Plan)
US$75,000,000; or Holdings or any of its Subsidiaries or any member of the Controlled Group of any of them shall withdraw (completely or partially) from any “multiemployer plan” (as defined in Section 4001(a)(3) of ERISA) and
the aggregate amount of the liability of Holdings and its Subsidiaries to such plan under Title IV of ERISA shall exceed (either singly or in the aggregate in the case of any such liability arising under more than one such plan) US$75,000,000;

 (g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation,
reorganization or other relief in respect of Holdings or any Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect
or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for Holdings or any Material Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall
continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 
 (h) Holdings or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or
similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (g) of this Article, (iii) apply for or consent to the
appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for Holdings or any Material Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition
filed against it in any such proceeding, or (v) make a general assignment for the benefit of creditors; 
 (i) one or
more judgments for the payment of money in an aggregate amount in excess of US$75,000,000 (except to the extent covered by insurance as to which the insurer has acknowledged such coverage in writing) shall be rendered against Holdings, any Material
Subsidiary or any combination thereof and the same shall remain undischarged for a period of 60 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or
levy upon any assets of Holdings or any Material Subsidiary to enforce any such judgment; 
 (j) Holdings, the Company or ASII
shall fail to observe or perform any covenant, condition or agreement contained in Article IX, or the guarantee of 

  

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Holdings, the Company or ASII hereunder shall not be (or shall be claimed by Holdings, the Company or ASII not to be) valid or in full force and effect; or

 (k) a Change in Control shall occur; 
 then, and in every such event (other than an event with respect to Holdings, the Company or ASII described in clause (g) or (h) of this Section), and at any time thereafter during the continuance of such event, the Administrative
Agent may, and at the request of the Required Lenders shall, by notice to Borrower Agent, take either or both of the following actions, at the same or different times: (i) terminate the Commitments, and thereupon the Commitments shall
terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon
the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Company accrued hereunder, shall become due and payable immediately, without presentment, demand, protest
or other notice of any kind, all of which are hereby waived by Holdings and the Borrowers; and in case of any event with respect to Holdings, the Company or ASII described in clause (g) or (h) of this Section, the Commitments shall
automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrowers accrued hereunder, shall automatically become due and payable, without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by Holdings and each Borrower. 
 ARTICLE VIII 
 The Agents 
 In order to expedite the
transactions contemplated by this Agreement, JPMCB is hereby appointed to act as Administrative Agent, and JPMEL is hereby appointed to act as London Agent, on behalf of the Lenders and, where applicable, the Issuing Banks. Each of the Lenders and
each of the Issuing Banks hereby irrevocably authorizes the Agents to take such actions on its behalf and to exercise such powers as are delegated to the Agents by the terms of the Credit Documents, together with such actions and powers as are
reasonably incidental thereto. 
 Any Lender serving as Agent hereunder shall have the same rights and powers in its capacity as a Lender as
any other Lender and may exercise the same as though it were not such Agent, and such Lender and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with any Credit Party or any Affiliate thereof as if
it were not such Agent hereunder. 
 The Agents shall not have any duties or obligations except those expressly set forth in the Credit
Documents. Without limiting the generality of the foregoing, (a) no Agent shall be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) no Agent shall have any duty to take
any discretionary action or exercise any discretionary powers, except discretionary 

  

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rights and powers expressly contemplated by the Credit Documents that such Agent is required to exercise in writing by the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02), and (c) except as expressly set forth in the Credit Documents, no Agent shall have any duty to disclose, or be liable for the
failure to disclose, any information relating to Holdings or any Subsidiary that is communicated to or obtained by the bank serving as Agent or any of its Affiliates in any capacity. No Agent shall be liable for any action taken or not taken by it
with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02) or in the absence of its own gross negligence or wilful
misconduct. No Agent shall be deemed to have knowledge of any Default unless and until written notice thereof is given to such Agent by the Borrower Agent, a Borrower or a Lender, and no such Agent shall be responsible for or have any duty to
ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Credit Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection herewith,
(iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Credit Document, (iv) the validity, enforceability, effectiveness or genuineness of any Credit Document or any other
agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere in any Credit Document, other than to confirm receipt of items expressly required to be delivered to such Agent. 

Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement,
instrument, document or other writing believed by it in good faith to be genuine and to have been signed or sent by the proper Person. Each Agent also may rely upon any statement made to it orally or by telephone and believed by it in good faith to
be made by the proper Person, and shall not incur any liability for relying thereon. Each Agent may consult with legal counsel (who may be counsel for any Credit Party), independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 
 Each Agent may
perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by such Agent. Such Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their
respective Related Parties. The exculpatory provisions of the preceding paragraphs and the provisions of Section 10.03 shall apply to any such sub-agent and to the Related Parties of the Agents and any such sub-agent, and shall apply to their
respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Agent. 
 Subject to the appointment and acceptance of a successor Agent as provided in this paragraph, any Agent may resign at any time by notifying the Lenders, the Issuing Banks and the Company. Upon any such resignation, the Administrative Agent,
or, if the Administrative Agent shall have resigned, the Required Lenders, shall have the right (in consultation with, and with the consent of (unless an Event of Default has occurred and is continuing pursuant to clause (g) or (h) of
Section 7.01), the 

  

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Company, which shall not be unreasonably withheld) to appoint a successor. If no successor shall have been so appointed and shall have accepted such
appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may (in consultation with, and with the consent of (unless an Event of Default has occurred and is continuing pursuant to clause
(g) or (h) of Section 7.01), the Company, which shall not unreasonably withhold such consent and which shall, if the retiring Agent shall so request, designate and approve a successor Agent) on behalf of the Lenders and the Issuing
Banks, appoint a successor Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and
become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. After an Agent’s resignation hereunder, the provisions of this Article
and Section 10.03 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Agent.

 Each Lender acknowledges that it has, independently and without reliance upon the Agents or any other Lender and based on such documents
and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agents or any other Lender and based on
such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Credit Document, any related agreement or any document
furnished hereunder or thereunder. 
 None of the institutions named as Syndication Agents or Documentation Agents in the heading of this
Agreement shall, in their capacities as such, have any duties or responsibilities of any kind under this Agreement. 
 ARTICLE IX 

Guarantee 
 In order to induce the
Lenders to extend credit to the Borrowers hereunder, each of Holdings, the Company and ASII hereby irrevocably and unconditionally guarantees, as a primary obligor and not merely as a surety, the Obligations. Each of Holdings, the Company and ASII
further agrees that the due and punctual payment of the Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such
extension or renewal of any Obligation. 
 Each of Holdings, the Company and ASII waives presentment to, demand of payment from and protest
to any Borrower of any of the Obligations, and also waives notice of acceptance of its obligations and notice of protest for nonpayment. The obligations of each of Holdings, the Company and ASII hereunder shall not be affected 

  

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by (a) the failure of any Lender to assert any claim or demand or to enforce any right or remedy against any Borrower under the provisions of this
Agreement or any other Credit Document or otherwise; (b) any extension or renewal of any of the Obligations; (c) any rescission, waiver, amendment or modification of, or release from, any of the terms or provisions of this Agreement or any
other Credit Document; (d) the failure or delay of any Lender to exercise any right or remedy against any other guarantor of the Obligations; (e) the failure of any Lender to assert any claim or demand or to enforce any remedy under any
Credit Document or any other agreement or instrument; (f) any default, failure or delay, wilful or otherwise, in the performance of the Obligations; or (g) any other act, omission or delay to do any other act which may or might in any
manner or to any extent vary the risk of Holdings, the Company or ASII or otherwise operate as a discharge of Holdings, the Company or ASII as a matter of law or equity or which would impair or eliminate any right of Holdings, the Company or ASII to
subrogation. 
 Each of Holdings, the Company and ASII further agrees that its guarantee hereunder constitutes a promise of payment when due
(whether or not any bankruptcy or similar proceeding shall have stayed the accrual or collection of any of the Obligations or operated as a discharge thereof) and not merely of collection, and waives any right to require that any resort be had by
any Lender, Agent or Issuing Bank to any balance of any deposit account or credit on the books of any Lender, Agent or Issuing Bank in favor of Holdings, any Borrower or Subsidiary or any other Person. 
 The obligations of Holdings, the Company and ASII hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason,
and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or unenforceability of the Obligations, any impossibility in the performance of the Obligations or
otherwise. 
 Each of Holdings, the Company and ASII further agrees that its obligations hereunder shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by any Lender upon the bankruptcy or reorganization of Holdings or any Borrower or otherwise. 
 In furtherance of the foregoing and not in limitation of any other right which any Lender, Agent or Issuing Bank may have at law or in equity against
Holdings, the Company or ASII by virtue hereof, upon the failure of any Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each of Holdings, the
Company and ASII hereby promises to and will, upon receipt of written demand by the Administrative Agent, forthwith pay, or cause to be paid, to the Administrative Agent, for distribution to the Lenders, Agents or Issuing Banks, as appropriate, in
cash an amount equal the unpaid principal amount of such Obligation. Each of Holdings, the Company and ASII further agrees that if payment in respect of any Obligation shall be due in a currency other than US Dollars and/or at a place of
payment other than New York and if, by reason of any legal prohibition, disruption of currency or foreign exchange markets, war or civil disturbance or other event, payment of such Obligation in such currency or at such place 

  

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of payment shall be impossible or, in the reasonable judgment of any Lender, Agent or Issuing Bank, not consistent with the protection of its rights or
interests, then, at the election of such Lender, Agent or Issuing Bank, Holdings, the Company and ASII shall make payment of such Obligation in US Dollars (based upon the applicable Exchange Rate in effect on the date of payment) and/or in
New York, and shall indemnify such Lender, Agent or Issuing Bank against any losses or expenses (including losses or expenses resulting from fluctuations in exchange rates) that it shall sustain as a result of such alternative payment.

 Upon payment in full by Holdings, the Company or ASII of any Obligation of any Borrower, each Lender shall, in a reasonable manner, assign
to Holdings, the Company or ASII, as applicable, the amount of such Obligation owed to such Lender and so paid, such assignment to be pro tanto to the extent to which the Obligation in question was discharged by Holdings, the Company or ASII, as
applicable, or make such disposition thereof as Holdings, the Company or ASII shall direct (all without recourse to any Lender and without any representation or warranty by any Lender). Upon payment by Holdings, the Company or ASII of any sums as
provided above, all rights of Holdings, the Company or ASII against any Borrower arising as a result thereof by way of right of subrogation or otherwise shall in all respects be subordinated and junior in right of payment to the prior indefeasible
payment in full of all the Obligations owed by such Borrower to the Lenders (it being understood that, after the discharge of all the Obligations due and payable from such Borrower, such rights may be exercised by Holdings, the Company or ASII, as
applicable notwithstanding that such Borrower may remain contingently liable for indemnity or other Obligations). 
 ARTICLE X 
 Miscellaneous 
 SECTION 10.01.
Notices. Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier
service, mailed by certified or registered mail or sent by telecopy, as follows: 
 (a) if to the Borrower Agent, to it at One
Centennial Avenue, Piscataway, NJ, 08855, Attn. David Kuhl, Vice President and Treasurer, (Telecopy No. (732) 980-6123); 
 (b) if to any Borrower, to it in care of the Borrower Agent as provided in paragraph (a) above; 
 (c) if to the
Administrative Agent, to JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 1111 Fannin, 10th Floor, Houston, Texas 77002-6925, Attention of Richardo Gonzales Jr., Loan & Agency Services (Telecopy No. (713) 750-2228), with a
copy to JPMorgan Chase Bank, N.A., 270 Park Avenue, New York 10017, Attention of Randolph Cates (Telecopy No. (212) 270-3279); 
  

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 (d) if to the London Agent, to it at J.P. Morgan Europe Limited, 125 London Wall, London
EC2Y 5AJ, United Kingdom, Attention of Vicky Barnett, Loan Agency Division (Telecopy No. 011-44-207-777-2360), with a copy to the Administrative Agent as provided in paragraph (c) above; 
 (e) if to any Issuing Bank, to it at the address most recently specified by it in a notice delivered to the Administrative Agent and the
Borrower Agent; 
 (f) if to the Swingline Lender, (i) in the case of Swingline Loans denominated in US Dollars, to it at
JPMorgan Chase Bank, N.A., 1111 Fannin Street, 10th Floor, Houston, Texas 77002-6925, Attention of Richardo Gonzales Jr., Loan & Agency Services (Telecopy No. (713) 750-2228) and (ii) in the case of Swingline Loans denominated in
Sterling or Euro, to it at JPMorgan Chase Bank, N.A., European Loan Operations, 125 London Wall, London EC2Y 5AJ, United Kingdom, Attention of The Manager (Telecopy No. 011- 44-207-492-3297); and 
 (g) if to any other Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire. 
 Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 
 SECTION 10.02. Waivers; Amendments. (a) No failure or delay by any Agent, any Issuing Bank or any Lender in exercising any right or power hereunder or under any other Credit Document shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or
power. The rights and remedies of the Agents, the Issuing Banks and the Lenders hereunder and under any other Credit Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision
of any Credit Document or consent to any departure by any Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or the issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether any Agent,
any Issuing Bank or any Lender may have had notice or knowledge of such Default at the time. 
 (b) Neither this Agreement nor any other
Credit Document nor any provision hereof or thereof may be waived, amended or modified except pursuant to an 
  

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agreement or agreements in writing entered into by Holdings, the Company, ASII and the Required Lenders or by Holdings, the Company, ASII and the
Administrative Agent with the consent of the Required Lenders and, in the case of any other Credit Document, each applicable Borrower (or the Borrower Agent on behalf of such Borrower); provided that no such agreement shall (i) increase
the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable to any Lender hereunder, without the
written consent of each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or
excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.18(b) or (c) in a manner that would alter the pro rata sharing
of payments required thereby, without the written consent of each Lender affected thereby, (v) change Section 2.09(c) in a manner that would alter the pro rata reduction of the Commitments required thereby, without the written consent of
each Lender affected thereby, (vi) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision of any Credit Document specifying the number or percentage of Lenders required to waive,
amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender or (vii) release Holdings, the Company or ASII from their respective obligations under Article IX, in
each case without the written consent of each Lender; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of any Agent, any Issuing Bank or the Swingline Lender hereunder without the prior
written consent of such Agent, such Issuing Bank or the Swingline Lender, as the case may be. Notwithstanding the foregoing, any provision of this Agreement may be amended by an agreement in writing entered into by Holdings, the Company, ASII, the
Required Lenders and the Administrative Agent (and, if its rights or obligations are affected thereby, the London Agent) if (A) by the terms of such agreement the Commitment of each Lender not consenting to the amendment provided for therein
shall terminate upon the effectiveness of such amendment and (B) at the time such amendment becomes effective, each Lender not consenting thereto receives payment in full of the principal of and interest accrued on each Loan made by it and all
other amounts owing to it or accrued for its account under this Agreement. 
 (c) If, in connection with any proposed change, waiver,
discharge or termination of or to any of the provisions of this Agreement as contemplated by clauses (i) through (vii), inclusive, of the first proviso to Section 10.02(b), the consent of the Required Lenders is obtained but the consent of
one or more of such other Lenders whose consent is required is not obtained, then the Borrowers shall have the right, so long as all non-consenting Lenders whose individual consent is required are treated as described in either clause (i) or
(ii) below, to either: 
 (i) replace each such non-consenting Lender or Lenders (or, at the option of the Borrowers if
any such Lender’s consent is required with respect to less than all Classes of Loans (or related Commitments), to replace only the Commitments and/or Loans of such non-consenting Lender that gave rise to the need to obtain such Lender’s
individual consent) with one or more assignees pursuant to, and 

  

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with the effect of an assignment under, Section 2.19 so long as at the time of such replacement, each such assignee consents to the proposed change,
waiver, discharge or termination; or 
 (ii) terminate such nonconsenting Lender’s Commitment (if such Lender’s
consent is required as a result of its Commitment) and/or repay each Class of outstanding Loans of such Lender that gave rise to the need to obtain such Lender’s consent and/or cash collateralize its LC Exposure, in accordance with
Section 2.05(i), and pay all accrued interest, fees and other amounts through the date of such termination and/or repayment; provided that, unless the Commitments that are terminated and Loans that are repaid are immediately replaced in full at
such time through the addition of new Lenders or the increase of the Commitments and/or outstanding Loans of existing Lenders (who in each case must specifically consent thereto), then the Required Lenders (determined after giving effect to the
proposed action) shall specifically consent thereto. 
 Any such replacement or termination transaction described above shall be effective on the date notice
is given of the relevant transaction and shall have a settlement date no earlier than five Business Days and no later than 90 days after the relevant transaction. Notwithstanding the foregoing, with respect to the Lender that is acting as the
Administrative Agent, the Borrower shall not have the right to replace such Lender, terminate its Commitment or repay its Loans pursuant to this paragraph as a result of such Lender’s refusal to consent to any waiver, amendment or modification
that would affect its rights and duties in its capacity as Administrative Agent. 
 SECTION 10.03. Expenses; Indemnity; Damage Waiver.
(a) The Borrowers shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the Agents and their Affiliates, including the reasonable fees, charges and disbursements of Cravath, Swaine & Moore LLP, counsel
for the Administrative Agent, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of the Credit Documents or any amendments, modifications or waivers of the provisions hereof (whether
or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses (other than expenses usually and ordinarily incurred in the processing of drafts presented under letters of credit)
incurred by any Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all reasonable out-of-pocket expenses incurred by any Agent, any Issuing Bank
or any Lender, including the fees, charges and disbursements of Cravath, Swaine & Moore LLP, counsel for the Administrative Agent, and, if an Event of Default shall have occurred or shall be reasonably anticipated by the Administrative
Agent, other counsel for any Agent, any Issuing Bank or any Lender, in connection with the enforcement or protection of the rights of any Agent, Issuing Bank or Lender in connection with the Credit Documents, including its rights under this Section,
including all such reasonable out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 
  

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 (b) The Borrowers shall indemnify each Agent, each Issuing Bank and each Lender, and each Related Party
of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (other than Excluded Taxes),
including the reasonable and documented fees, charges and disbursements of counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the syndication of the credit
facilities provided for herein, (ii) the execution or delivery of any Credit Document or any agreement or instrument contemplated thereby, the performance by the parties to the Credit Documents of their respective obligations thereunder or the
consummation of the Transactions or any other transactions contemplated hereby, (iii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by any Issuing Bank to honor a demand for payment under a Letter of
Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iv) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by
Holdings or any of its Subsidiaries, or any Environmental Liability related in any way to Holdings or any of the Subsidiaries, or (v) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto (and regardless of whether such matter is instituted by a third party or a Credit Party); provided that such indemnity shall not,
as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses have resulted from the wilful misconduct or gross negligence of such Indemnitee or any of its directors, officers, employees or
agents. The Borrowers and each Indemnitee agree that (i) such Indemnitee will contest any claim in respect of which indemnification is sought under this paragraph if requested by the Borrower Agent, in a manner reasonably directed by the
Borrower Agent, with counsel selected by the Indemnitee and approved by the Borrower Agent, which approval shall not be unreasonably withheld or (ii) the Borrower Agent, upon the request of the Indemnitee, shall retain counsel reasonably
satisfactory to the Indemnitee to represent the Indemnitee in any proceeding with respect to any such claim and shall pay as incurred the reasonable fees and expenses of such counsel related to such proceeding. In any such proceeding with respect to
which the Indemnitee has requested the Borrower Agent to retain counsel, any Indemnitee shall have the right to retain its own counsel at its own expense, except that the Borrower Agent shall pay as they are incurred the reasonable fees and expenses
of counsel retained by the Indemnitee if (y) the Borrower and the Indemnitee agree to the retention of such counsel or (z) the named parties to any such proceeding (including any impleaded parties) include both the Borrower and the
Indemnitee and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. Any Indemnitee that proposes to settle or compromise any indemnified claim for which the Borrowers
may be liable for payment of indemnity shall give the Borrower Agent written notice of the terms of such proposed settlement or compromise reasonably in advance of settling or compromising such claim or proceeding and shall obtain the Borrower
Agent’s prior written consent, which consent shall not be unreasonably withheld; provided that nothing in this sentence or the preceding sentence shall restrict the right of any person to settle or compromise any claim for which
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terms if such person waives its right to indemnity from the Borrowers in respect of such claim. The Borrower Agent will not, without the prior written
consent of the applicable Indemnitee (which consent shall not be unreasonably withheld), settle any proceeding with respect to which the Indemnitee has requested the Borrower Agent to retain counsel unless such settlement includes an express,
complete and unconditional release of such Indemnitee with respect to all claims asserted in such proceeding. 
 (c) To the extent that the
Borrowers fail to pay any amount required to be paid by them to any Agent, any Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to such Agent, such Issuing Bank or the
Swingline Lender such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss,
claim, damage, liability or related expense, as the case may be, was incurred by or asserted against such Agent, such Issuing Bank or the Swingline Lender in its capacity as such. 
 (d) To the extent permitted by applicable law, neither Holdings nor any Borrower shall assert, and each hereby waives, any claim against any Indemnitee
for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with or as a result of this Agreement or any agreement or instrument contemplated hereby, the Transactions, any Loan or
Letter of Credit or the use of the proceeds thereof. 
 (e) All amounts due under this Section shall be payable promptly after written demand
therefor setting forth the amount and the nature of the expense or claim, as applicable. 
 (f) Notwithstanding the foregoing paragraphs,
nothing in this Section shall require Holdings or any Borrower to indemnify any Agent, Issuing Bank or Lender against or to reimburse any Agent, Issuing Bank or Lender for any cost or reduction in amounts received that shall result from the Changes
in Law or other matters addressed in Section 2.15, 2.16 or 2.17 and that shall be expressly excluded from the amounts for which Holdings and the Borrowers are liable under such Sections. 
 SECTION 10.04. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any Letter of Credit), except that no Borrower may assign or otherwise transfer any of its rights or obligations hereunder
or under any Borrowing Subsidiary Agreement (except as expressly provided herein) without the prior written consent of each Lender (and any attempted assignment or transfer by any Borrower without such consent shall be null and void). Nothing in
this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any Letter of
Credit) and, to the extent expressly contemplated hereby, the Related Parties of each of the Agents and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
  

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 (b) Any Lender may assign to one or more assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that (i) except in the case of an assignment to a Lender (or an Affiliate of a Lender that is sufficiently creditworthy that
there would be no reasonable doubt as to its ability to perform its obligations hereunder), each of the Borrower Agent and the Administrative Agent (and in the case of an assignment of all or a portion of a Commitment or any Lender’s
obligations in respect of its LC Exposure, the applicable Issuing Bank, and the Swingline Lender) must give their prior written consent to such assignment (which consent shall not be unreasonably withheld or delayed), (ii) except in the case of
an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount of the assigning Lender’s Commitment, the amount of the Commitment of the assigning Lender subject to each such assignment (determined as of
the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than US$5,000,000 unless each of the Borrower Agent and the Administrative Agent otherwise consent, (iii) each
partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement, except that this clause (iii) shall not apply to rights in respect of outstanding
Competitive Loans, (iv) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of US$3,500, and (v) the assignee, if it shall not be
a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire; and provided further that any consent of the Borrower Agent otherwise required under this paragraph shall not be required if an Event of Default under clause
(g) or (h) of Section 7.01 has occurred and is continuing. Subject to acceptance and recording thereof pursuant to paragraph (d) of this Section, from and after the effective date specified in each Assignment and Assumption the
assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of
the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement,
such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 10.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply
with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section. 
 (c) The Administrative Agent, acting for this purpose as an agent of each Borrower, shall maintain at one of its offices in The City of New York a
copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount of the Loans owing to, each Lender pursuant to the terms hereof from
time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrowers, the Agents, the Issuing Banks and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms
hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be 
  

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available for inspection by any Borrower, any Agent, any Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior
notice. 
 (d) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the
assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment
required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless
it has been recorded in the Register as provided in this paragraph. 
 (e) Any Lender may, without the consent of any Borrower or the
Administrative Agent, the Issuing Banks or the Swingline Lender sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations and (iii) the Borrowers, the Agents, the Issuing Banks, the Swingline Lender and the other Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce the Credit Documents and to approve
any amendment, modification or waiver of any provision of the Credit Documents; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or
waiver described in the first proviso to Section 10.02(b) that affects such Participant. Subject to paragraph (f) of this Section, each Borrower agrees that each Participant shall be entitled to the benefits of and be subject to all the
obligations of a Lender under Sections 2.15, 2.16 and 2.17 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.18(c) as though it were a Lender. 
 (f) A Participant shall not be entitled to receive any greater payment under Section 2.15 or 2.17 than the applicable Lender would have been
entitled to receive with respect to the participation sold to such Participant. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.17 unless the Borrower Agent is notified of the
participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Sections 2.17(e) as though it were a Lender. The provisions of Section 2.19 shall apply to each Participant as though it were a
Lender. 
 (g) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to
secure obligations of such Lender, 

  

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including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a
security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (h) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Bank”) may grant to a special purpose funding
vehicle (an “SPC”) of such Granting Bank, identified as such in writing from time to time by the Granting Bank to the Administrative Agent and the Borrowers, the option to provide to the Borrowers all or any part of any Loan that
such Granting Bank would otherwise be obligated to make to the Borrowers pursuant to Section 2.01; provided that (i) nothing herein shall constitute a commitment to make any Loan by any SPC and (ii) if an SPC elects not to
exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Bank shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPC hereunder shall be deemed to utilize the Commitment
of the Granting Bank to the same extent, and as if, such Loan were made by the Granting Bank. Each party hereto hereby agrees that no SPC shall be liable for any payment under this Agreement for which a Lender would otherwise be liable, for so long
as, and to the extent, the related Granting Bank makes such payment. In furtherance of the foregoing, each party hereto hereby agrees that, prior to the date that is one year and one day after the payment in full of all outstanding senior
indebtedness of any SPC, it will not institute against, or join any other person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceedings under the laws of the United
States or any State thereof. In addition, notwithstanding anything to the contrary contained in this Section 10.04, any SPC may (i) with notice to, but without the prior written consent of, the Borrowers and the Administrative Agent and
without paying any processing fee therefor, assign all or a portion of its interests in any Loans to its Granting Bank or to any financial institutions (if consented to by the Borrowers and Administrative Agent) providing liquidity and/or credit
facilities to or for the account of such SPC to fund the Loans made by such SPC or to support the securities (if any) issued by such SPC to fund such Loans and (ii) disclose on a confidential basis any non-public information relating to its
Loans (but not relating to any Borrower, except with the Borrower Agent’s consent) to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPC (and subject to the agreement
of any such provider of any surety, guarantee or credit or liquidity enhancement to maintain the confidentiality of such information on substantially the terms set forth in Section 10.12). 
 SECTION 10.05. Survival. All covenants, agreements, representations and warranties made by the Credit Parties herein, in the other Credit
Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Credit Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution
and delivery of the Credit Documents and the making of any Loans and the issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that any Agent, any Issuing Bank or any
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knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as
long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated.
The provisions of Sections 2.15, 2.16, 2.17 and 10.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or
termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof. 
 SECTION 10.06.
Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall
constitute a single contract. This Agreement, the other Credit Documents and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire contract among the parties relating to the subject matter
hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 10.07. Severability. Any provision of any Credit Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions of such Credit Document; and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION 10.08. Right of Setoff.
If an Event of Default shall have occurred and be continuing, each Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of any Borrower (other than payroll accounts and trust accounts) against any of and all the
obligations of the Borrowers now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement. The rights of each Lender under this Section are in addition
to and shall not limit other rights and remedies (including other rights of setoff) which such Lender may have. 
  

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 SECTION 10.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement
shall be construed in accordance with and governed by the law of the State of New York. 
 (b) Holdings and each Borrower hereby
irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern
District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to any Credit Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably
and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Credit Document shall affect any right
that any party to this Agreement may otherwise have to bring any action or proceeding relating to this Agreement or any other Credit Document against any Borrower or its properties in the courts of any jurisdiction. 
 (c) Each party to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection
which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Credit Document in any court referred to in paragraph (b) of this Section. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.01. Nothing in this
Agreement or any other Credit Document will affect the right of any party hereto or thereto to serve process in any other manner permitted by law. 
 SECTION 10.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AGREEMENT, ANY OTHER CREDIT DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO
THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
  

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 SECTION 10.11. Headings. Article and Section headings and the Table of Contents used herein are
for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 
 SECTION 10.12. Confidentiality. Each of the Agents, each Issuing Bank and the Lenders agrees to maintain, and to cause its directors, officers,
employees and agents to maintain, the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal
counsel and other advisors on a need-to-know basis (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential),
(b) to the extent requested by any regulatory authority, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, subject to the delivery of notice of such required disclosure to the
Borrower Agent in order that Holdings or the Borrowers may have the opportunity to contest such disclosure or to seek one or more protective orders with respect thereto, (d) to any other party to this Agreement, (e) in connection with the
exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or any other Credit Document or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially the same as
those of this Section, to any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement, (g) with the written consent of any Borrower or (h) to the extent such
Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) becomes available to any Agent, any Issuing Bank or any Lender on a nonconfidential basis from a source other than a Borrower. For the
purposes of this Section, “Information” means all information received from the Borrowers relating to the Borrowers or their business, other than any such information that is publicly available or available to the Administrative
Agent, any Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by a Borrower. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as a prudent Person engaged in the same business or following customary procedures for such business would accord to its own
confidential information. 
 SECTION 10.13. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time
the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the
“Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all
Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall
be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not 

  

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above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment,
shall have been received by such Lender. 
 SECTION 10.14. Conversion of Currencies. (a) If, for the purpose of obtaining
judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another currency, each party hereto (including any Borrowing Subsidiary) agrees, to the fullest extent that it may effectively do so, that the rate of
exchange used shall be that at which in accordance with normal banking procedures in the relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment
is given. 
 (b) The obligations of each Borrower in respect of any sum due to any party hereto or any holder of the obligations owing
hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement
Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking
procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, such
Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of the Borrowers contained in this Section 10.14 shall survive the termination of this
Agreement and the payment of all other amounts owing hereunder. 
 SECTION 10.15. Termination of Certain Covenants. (a) At any
time when a Class I Termination Condition shall occur, Section 6.03(b) shall terminate and be of no further force and effect; provided that if at any time after the occurrence of a Class I Termination Condition either Moody’s or
S&P shall downgrade its Index Rating such that a Class I Termination Condition shall no longer be in effect, such Section shall be automatically reinstated on the date of such downgrade. 
 (b) At any time when a Class II Termination Condition shall occur, Section 6.02 shall terminate and be of no further force and effect;
provided that if at any time after the occurrence of a Class II Termination Condition either Moody’s or S&P shall downgrade its Index Rating such that a Class II Termination Condition shall no longer be in effect, such Section shall
be automatically reinstated on the date of such downgrade. 
 (c) If the rating system of Moody’s or S&P shall change, or if either
such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower Agent (on behalf of the Credit Parties) and the Administrative Agent (on behalf of the Lenders) shall negotiate in good faith to amend the
definitions of Class I Termination Condition and Class II Termination Condition to reflect such changed rating system or the unavailability of ratings from such rating agency. 
  

 88 

 SECTION 10.16. USA Patriot Act. Each Lender that is subject to the requirements of the USA Patriot
Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”) hereby notifies Borrower that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information
that identifies the Borrowers, which information includes the name and address of the Borrowers and other information that will allow such Lender to identify the Borrower in accordance with the Patriot Act. 
 SECTION 10.17. B&K Pledge Requirement. (a) The Borrower Agent agrees that in the event that (i) the Spin-Off is consummated by
December 31, 2007 and (ii) the B&K Sale is abandoned or is not consummated by December 31, 2007 and (iii) the Index Ratings are downgraded to BB or below by S&P or to Ba2 or below by Moody’s, it (x) shall, and
shall cause each of its subsidiaries to, pledge, to the maximum extent permissible under the Indentures, all of the Equity Interests in the Borrowers and other subsidiaries owned by or on behalf of Holdings or its US Subsidiaries (except that
Holdings and its US Subsidiaries shall not be required to pledge any Equity Interests of any Immaterial Subsidiary or more than 65% of the outstanding Equity Interests of any Non-US Subsidiary) pursuant to one or more pledge agreements in form and
substance satisfactory to the Agents, and Holdings and its domestic subsidiaries shall deliver the certificates or other instruments representing all such Equity Interests, together with undated stock powers or other instruments of transfer with
respect thereto endorsed in blank and (y) it shall cause each of its Material Subsidiaries that is a US Person to guarantee the Designated Obligations pursuant to one or more guarantee agreements in form and substance satisfactory to the Agents
and Holdings. 
 (b) In the event that (i) the B&K Sale is subsequently consummated or (ii) the Index Ratings are upgraded to
BB+ or above by S&P or to Ba1 or above by Moody’s, the requirements set forth in paragraph (a) above shall be of no further force and effect and all guarantees and security interests in the Equity Interests pledged pursuant to
paragraph (a) above shall be automatically released. In connection with any such release, the Administrative Agent shall promptly execute and deliver to Holdings, at Holdings’ expense, all documents that Holdings shall reasonably request
to evidence such release. Any release or execution and delivery of documents pursuant to this Section 10.17 shall be without recourse to or warranty by the Administrative Agent. 
  

 89 

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

			
	AMERICAN STANDARD COMPANIES INC.,
		
	by	 	/s/ David Kuhl
		 	Name: David Kuhl
		 	Title:   Vice President and Treasurer
		
	by	 	/s/ Marilyn Gargano
		 	Name: Marilyn Gargano
		 	Title:   Assistant Treasurer
	
	AMERICAN STANDARD INC.,
		
	by	 	/s/ David Kuhl
		 	Name: David Kuhl
		 	Title:   Vice President and Treasurer
	
	AMERICAN STANDARD INTERNATIONAL INC.,
		
	by	 	/s/ David Kuhl
		 	Name: David Kuhl
		 	Title:   Vice President and Treasurer

			
	TRANE BVBA,
		
	by	 	/s/ Gerard Lavery
		 	Name: Gerard Lavery
		 	Title:   Director

			
	AMERICAN STANDARD FINANCIAL SERVICES BVBA,
		
	by	 	/s/ Malcolm Gilbert
		 	Name: Malcolm Gilbert
		 	Title:   Proxyholder

			
	ASE FINANCE SPRL,
		
	by	 	/s/ Malcolm Gilbert
		 	Name: Malcolm Gilbert
		 	Title:   Director

			
	WABCO STANDARD TRANE BV,
		
	by	 	/s/ Malcolm Gilbert
		 	Name: Malcolm Gilbert
		 	Title:   Proxyholder

					
	 JPMORGAN CHASE BANK, N.A.,
 individually, as
Administrative Agent, as Swingline Lender and as Issuing Bank,

			
		 	by	 	/s/ Randolph Cates
		 		 	Name: Randolph Cates
		 		 	Title:   Executive Director
	
	J.P. MORGAN EUROPE LIMITED, as London Agent,
			
		 	by	 	/s/ Ching Loh
		 		 	Name: Ching Loh
		 		 	Title:   Associate
	
	BANK OF AMERICA, N.A., individually and as Syndication Agent,
			
		 	by	 	/s/ John Walkiowicz
		 		 	Name: John Walkiowicz
		 		 	Title:   Vice President

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	BNP Paribas
			
		 	by	 	/s/ Simone Vinocour
		 		 	Name: Simone Vinocour
		 		 	Title:   Director
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	/s/ Angela Arnold
		 		 	Name: Angela Arnold
		 		 	Title:   Director

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	Citibank, N.A.
			
		 	by	 	 /s/ Marc Merlino

		 		 	Name: Marc Merlino
		 		 	Title:   Vice President
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name: 
		 		 	Title:   

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	Mizuho Corporate Bank, Ltd.
			
		 	by	 	 /s/ Raymond Ventura

		 		 	Name: Raymond Ventura
		 		 	Title:   Deputy General Manager
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name: 
		 		 	Title:   

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	Bank of Tokyo—Mitsubishi
		 	by	 	 UFJ Trust Company
 /s/ Spencer Hughes

		 		 	Name: Spencer Hughes
		 		 	Title:   Vice President
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name: 
		 		 	Title:   

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	Lloyds TSB Bank plc
			
		 	by	 	 /s/ Andrew J. Roberts

		 		 	Name: Andrew J. Roberts
		 		 	Title:   Director
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	 /s/ Windsor R. Davies

		 		 	Name: Windsor R. Davies
		 		 	Title:   Managing Director

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	The Bank of Nova Scotia
			
		 	by	 	 /s/ Todd S. Meller

		 		 	Name: Todd S. Meller
		 		 	Title:   Managing Director
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name:
		 		 	Title:   

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	Calyon New York Branch
			
		 	by	 	 /s/ Brian Myers

		 		 	Name: Brian Myers 
		 		 	Title:   Managing Director
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	 /s/ Robert Nelson

		 		 	Name: Robert Nelson 
		 		 	Title:   Managing Director

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	Credit Lyonnais
			
		 	by	 	 /s/ Eric Perrot Audet

		 		 	Name: Eric Perrot Audet 
		 		 	Title:   Managing Director
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name: 
		 		 	Title:   

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	HSBC Bank USA, National Association
			
		 	by	 	 /s/ Thomas J. Sweeney

		 		 	Name: Thomas J. Sweeney 
		 		 	Title:   Vice President
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name: 
		 		 	Title:   

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	SunTrust Bank
			
		 	by	 	 /s/ Robert Maddox

		 		 	Name: Robert Maddox 
		 		 	Title:   Vice President
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name: 
		 		 	Title:   

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	Natixis
			
		 	by	 	 /s/ Pieter van Tulder

		 		 	Name: Pieter van Tulder 
		 		 	Title:   Managing Director
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	 /s/ Nicolas Regent

		 		 	Name: Nicolas Regent
		 		 	Title:   Director

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	The Bank of New York
			
		 	by	 	 /s/ Kenneth R. McDonnell

		 		 	Name: Kenneth R. McDonnell
		 		 	Title:   Vice President
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name: 
		 		 	Title:   

					
	 SIGNATURE PAGE TO THE
 AMERICAN STANDARD
INC.
 FIVE-YEAR CREDIT AGREEMENT

		
	LENDER:	 	U.S. Bank, N.A.
			
		 	by	 	 /s/ Bonnie S. Wiskowski

		 		 	Name: Bonnie S. Wiskowski 
		 		 	Title:   Officer
	
	For Lenders requiring a second signature:
	
	  
			
		 	by	 	  
		 		 	Name: 
		 		 	Title:   

 American Standard Companies Inc. 
 American Standard Inc. 
 American Standard International Inc. 
 Five-Year Credit Agreement 
 Schedule 2.01:
Commitments 
  

				
	 Lender
	  	Commitment
	 JPMorgan Chase Bank, N.A.
	  	$	106,666,666.00
	 Bank of America, N.A.
	  	$	106,666,666.00
	 BNP Paribas
	  	$	100,000,000.00
	 Citibank, N.A.
	  	$	100,000,000.00
	 Mizuho Corporate Bank, Ltd.
	  	$	100,000,000.00
	 The Bank of Tokyo-Mitsubishi UFJ Trust Company
	  	$	66,666,667.00
	 Lloyds TSB Bank plc
	  	$	66,666,667.00
	 The Bank of Nova Scotia
	  	$	66,666,667.00
	 Calyon
	  	$	53,333,333.60
	 Le Credit Lyonnais
	  	$	13,333,333.40
	 HSBC Bank USA, National Association
	  	$	50,000,000.00
	 SunTrust Bank
	  	$	50,000,000.00
	 Natixis
	  	$	50,000,000.00
	 The Bank of New York
	  	$	40,000,000.00
	 U.S. Bank National Association
	  	$	30,000,000.00
	 Total
	  	$	1,000,000,000.00

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