Document:

SUPPLEMENTAL INDENTURE

 Exhibit 4.1 
  

 
  

SUMITOMO MITSUI FINANCIAL GROUP, INC. 

as Issuer 
 and 

THE BANK OF NEW YORK MELLON 

as Trustee 
 SUPPLEMENTAL
INDENTURE 
 Dated as of September 7, 2017 

to the 
 Senior Indenture dated as
of March 9, 2016 
  
  

 

 THIS SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
September 7, 2017, is entered into by Sumitomo Mitsui Financial Group, Inc., a joint stock company (kabushiki kaisha) incorporated under the laws of Japan (the “Issuer”) and The Bank of New York Mellon, as trustee (the
“Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Issuer and the Trustee have entered into the Senior Indenture dated as of March 9, 2016 (the “Base
Indenture”) providing for the issuance from time to time of the Issuer’s unsecured bonds, debentures, notes or other evidences of indebtedness. The Base Indenture, as supplemented and amended by this Supplemental Indenture, is herein
referred to as the “Indenture;” 
 WHEREAS, the Issuer desires to enter into this Supplemental Indenture pursuant to
Section 7.01(e) of the Base Indenture to establish the terms and forms of Australian dollar-denominated senior notes (the “Securities”) to be issued in accordance with Sections 2.01 and 2.03 of the Base Indenture; 

WHEREAS, the aggregate principal amount of Securities which may be authenticated and delivered under the Indenture is unlimited and such
Securities may be issued from time to time in one or more series; and 
 WHEREAS, all conditions and requirements necessary to make this
Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed and fulfilled by the parties hereto and the execution and delivery thereof have been in all respects duly authorized by the parties hereto.

 NOW, THEREFORE, for and in consideration of the foregoing premises, the Issuer and the Trustee mutually covenant and agree for the equal
and proportionate benefit of the Holders from time to time of the Securities as follows: 
 Section 1. Definitions. For the
purpose of this Supplemental Indenture, all capitalized terms used but not defined herein shall have the meaning given to them in the Base Indenture as amended hereby. 

Section 2. Forms of Securities. The forms of Securities for senior fixed rate notes and senior floating rate notes shall be
substantially in the forms of Exhibit A and Exhibit B, respectively, to this Supplemental Indenture. 
 Section 3. Amendments to the
Indenture. With respect to the Securities of any series, the Base Indenture is hereby supplemented and amended as follows: 
 (a)
References to the “Trustee” in the Base Indenture in connection with The Bank of New York Mellon acting as paying agent, registrar or transfer agent are hereby replaced with “paying agent appointed with respect to the Securities of
such series,” “registrar appointed with respect to the Securities of such series,” and “transfer agent appointed with respect to the Securities of such series,” respectively. 

  
 1 

 (b) Subsections (a) and (b) of Section 2.12 of the Base Indenture are hereby replaced
in their entirety by new subsections (a) and (b), which shall read as follows: 
 “(a) In compliance with Japanese tax laws and
the practices of taxing authorities in Japan, in respect of any interest payment on a series of Securities issued in global or book-entry form pursuant to this Indenture or any supplemental indenture hereto, any paying agent appointed with respect
to the Securities of such series shall act in accordance with the procedures and forms set out in the applicable and most recent memorandum prepared by the International Capital Markets Association, or any other organization or organizations that
succeed the International Capital Markets Association (as may be amended or supplemented from time to time by notice from such association) entitled “Compliance Procedures for International Securities Offerings by Japanese Issuers”,
intended to provide for the administration of the Special Taxation Measures Act (the “ICMA Procedures”). Except as otherwise provided in this Indenture, any such paying agent shall be responsible only for performing such services as
are specifically provided for in the ICMA Procedures or such other procedures actually known by the paying agent, as applicable and as may be amended or modified and communicated to the paying agent from time to time. Any such paying agent and the
Issuer may rely on the information provided in the claim for exemption from Japanese withholding taxes and other documentation in the absence of actual knowledge to the contrary.” 

“(b) If any interest payment on a series of Securities is due to be made hereunder, and if and so long as payments of interest (if any)
by the Issuer to any paying agent appointed with respect to the Securities of such series may be made without withholding or deduction for or on account of Japanese tax only upon receipt of certifications, claims for exemption, notifications or
other documentation in compliance with Japanese tax law requirements (“Tax Documentation”), the relevant paying agent, at the direction of the Issuer, shall (i) collect the required Tax Documentation from the Clearing
Organization (or Holders of the Securities, if definitive Securities representing such series have been issued); (ii) provide any required confirmations of information available to it; and (iii) deliver such Tax Documentation to, or on the
order of, the Issuer no later than one Business Day prior to the relevant interest payment date, followed by first class mail or express courier at the address stipulated in Section 10.04, for filing with the relevant Japanese district tax
office. Any such paying agent may rely on the information provided in Tax Documentation (including, where relevant, supporting documentation) in the absence of actual knowledge that such information is incorrect.” 

(c) Section 3.04 of the Base Indenture is hereby replaced in its entirety by a new Section 3.04, which shall read as follows: 

“Section 3.04. Paying Agents. Whenever the Issuer shall appoint a paying agent with respect to the Securities of any series
other than the Trustee with respect to the Securities of such series, it will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this
Section 3.04, 

  
 2 

 (a) that it will hold all sums received by it as such agent for the payment of the principal of
or interest on the Securities of such series (whether such sums have been paid to it by the Issuer or by any other obligor on the Securities of such series) in trust for the benefit of the Holders of the Securities of such series or of the Trustee;

 (b) that it will give the Trustee notice of any failure by the Issuer (or by any other obligor on the Securities of such series) to make
any payment of the principal of or interest on the Securities of such series when the same shall be due and payable; and 
 (c) that it will
pay any such sums so held in trust by it to the Trustee upon the Trustee’s written request at any time during the continuance of the failure referred to in subsection (b) above. 

The Issuer will, prior to 10:00 a.m., Sydney time, on each due date of the principal of or interest on the Securities of such series, deposit
or cause to be deposited with the paying agent a sum sufficient to pay such principal or interest so becoming due, and (unless such paying agent is the Trustee) the Issuer will promptly notify the Trustee of any failure to take such action. The
paying agent shall not be bound to make any payment until it has received in immediately available and cleared funds the full amount due to be paid to it pursuant to this Section 3.04(c). 

If the paying agent pays out any amount due in respect of the Securities before receipt of the amount due under this Section 3.04(c), the
Issuer shall on demand reimburse the paying agent for the relevant amount and pay interest to the paying agent on such amount that is outstanding from the date on which it is paid out to the date of reimbursement at the rate per annum equal to the
cost to the paying agent of funding the amount paid out, as certified by the paying agent. 
 If the Issuer shall act as its own paying
agent with respect to the Securities of any series, it will, on or before each due date of the principal of or interest on the Securities of such series, set aside, segregate and hold in trust for the benefit of the Holders of the Securities of such
series a sum sufficient to pay such principal or interest so becoming due. The Issuer will promptly notify the Trustee of any failure to take such action. 

Anything in this Section 3.04 to the contrary notwithstanding, the Issuer may at any time, for the purpose of obtaining a satisfaction
and discharge with respect to one or more or all series of Securities hereunder, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust for any such series by the Issuer or any paying agent hereunder, as required by
this Section 3.04, such sums to be held by the Trustee upon the trusts herein contained. 
 Anything in this Section 3.04 to the
contrary notwithstanding, the agreement to hold sums in trust as provided in this Section 3.04 is subject to the provisions of Sections 9.03 and 9.04.” 

  
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 (d) Section 3.05 of the Base Indenture is hereby replaced in its entirety by a new
Section 3.05, which shall read as follows: 
 “Section 3.05. Payment of Additional
Amounts. Unless otherwise established in accordance with Section 2.03, all payments of principal and interest in respect of the Securities shall be made by the Issuer without withholding or deduction for or on account of any
present or future taxes, duties, assessments or other governmental charges of whatever nature imposed or levied by or on behalf of Japan, or any authority thereof or therein having power to tax (“Taxes”), unless such withholding or
deduction is required by law. In such event, the Issuer shall pay to a Holder such additional amounts (“Additional Amounts”) as will result in the receipt by the Holder of such amounts as would have been received by it had no such
withholding or deduction been required, except that no such Additional Amounts shall be payable with respect to any Securities under any of the following circumstances: 

(i) the Holder or beneficial owner of the Securities is an individual non-resident of
Japan or a non-Japanese corporation and is liable for such Taxes in respect of such Securities by reason of its (A) having some connection with Japan other than the mere holding of such Securities or
(B) being a person having a special relationship with the Issuer as described in Article 6, paragraph (4) of the Act on Special Measures Concerning Taxation of Japan (Act No. 26 of 1957, as amended) (the “Special Taxation
Measures Act” and, each such person, a “specially-related person of the Issuer”); 
 (ii) the
Holder or beneficial owner of the Securities would otherwise be exempt from any such withholding or deduction but fails to comply with any applicable requirement to provide Interest Recipient Information (as defined below) or to submit a Tax
Exemption Application (as defined below) to the relevant paying agent to whom the relevant Securities are presented (where presentation is required), or whose Interest Recipient Information is not duly communicated through the relevant Participant
(as defined below) and the relevant international Clearing Organization to such paying agent; 
 (iii) the Holder or
beneficial owner of the Securities is for Japanese tax purposes treated as an individual resident of Japan or a Japanese corporation (except for (A) a Designated Financial Institution (as defined below) that complies with the requirement to
provide Interest Recipient Information or to submit a Tax Exemption Application and (B) an individual resident of Japan or a Japanese corporation that duly notifies (directly or through the relevant Participant or otherwise) the relevant paying
agent of its status as not being subject to withholding or deduction by the Issuer by reason of receipt by such individual resident of Japan or Japanese corporation of interest on the relevant Securities through a payment handling agent in Japan
appointed by it); 
 (iv) the Securities are presented for payment (where presentation is required) more than 30 days after
the day on which such payment on the Securities became due or after the full payment was provided for, whichever occurs later, except to the extent that the Holder thereof would have been entitled to Additional Amounts on presenting the same for
payment on the last day of such period of 30 days; 

  
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 (v) the withholding or deduction is imposed on a Holder or beneficial owner who
could have avoided such withholding or deduction by presenting its Securities (where presentation is required) to another paying agent maintained by the Issuer; 

(vi) the Holder is a fiduciary or partnership or is not the sole beneficial owner of the payment of the principal of, or any
interest on, any Security, and Japanese law requires the payment to be included for tax purposes in the income of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner, in each case, who would
not have been entitled to such Additional Amounts had it been the beneficial owner of such Security; or 
 (vii) any
combination of the above. 
 No Additional Amounts will be payable for or on account of any deduction or withholding imposed pursuant to
Sections 1471-1474 of the U.S. Internal Revenue Code and the U.S. Treasury regulations thereunder (“FATCA”), any intergovernmental agreement entered into with respect to FATCA, or any law, regulation or other official guidance
enacted or published in any jurisdiction implementing, or relating to, FATCA or any intergovernmental agreement. 
 Where Securities are
held through a participant of an international Clearing Organization or a financial intermediary (each, a “Participant”), in order to receive payments free of withholding or deduction by the Issuer for or on account of Taxes, if the
relevant beneficial owner is (A) an individual non-resident of Japan or a non-Japanese corporation (other than a specially-related person of the Issuer) or
(B) a Japanese financial institution falling under certain categories prescribed by the Special Taxation Measures Act (a “Designated Financial Institution”), each such beneficial owner shall, at the time of entrusting a
Participant with the custody of the relevant Securities, provide certain information prescribed by the Special Taxation Measures Act to enable the Participant to establish that such beneficial owner is exempted from the requirement for withholding
or deduction of such Taxes (“Interest Recipient Information”), and advise the Participant if the beneficial owner ceases to be so exempted (including the case in which a beneficial owner who is an individual non-resident of Japan or a non-Japanese corporation becomes a specially-related person of the Issuer). 

Where Securities are not held through a Participant, in order to receive payments free of withholding or deduction by the Issuer for or on
account of Taxes, if the relevant beneficial owner is (A) an individual non-resident of Japan or a non-Japanese corporation (other than a specially-related person
of the Issuer) or (B) a Designated Financial Institution, each such beneficial owner shall, prior to each time at which it receives interest, submit to the relevant paying agent a written application for tax exemption (hikazei
tekiyo shinkokusho) (a “Tax Exemption Application”), in a form obtainable from the paying agent stating, inter alia, the name and address (and, if applicable, the Japanese individual or corporation ID
number) of the beneficial owner, the title of the Securities, the relevant interest payment date, the amount of interest and the fact that the beneficial owner is qualified to submit the Tax Exemption Application, together with documentary evidence
regarding its identity and residence. 

  
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 By subscribing to the Securities as part of the distribution by the underwriters under the
applicable underwriting agreement, an investor shall be deemed to have represented that it is a beneficial owner who is, (i) for Japanese tax purposes, neither an individual resident of Japan or a Japanese corporation, nor an individual non-resident of Japan or a non-Japanese corporation that in either case is a specially-related person of the Issuer or (ii) a Japanese financial institution,
designated in Article 6, Paragraph (9) of the Special Taxation Measures Act. 
 The Issuer shall make any required withholding or
deduction and remit the full amount withheld or deducted to the Japanese taxing authority in accordance with applicable law. The Issuer shall use reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any tax, duty,
assessment, fee or other governmental charge so withheld or deducted from the Japanese taxing authority imposing such tax, duty, assessment or other governmental charge, and if certified copies are not available, the Issuer shall use reasonable
efforts to obtain other evidence satisfactory to the paying agent, and the paying agent shall make such certified copies or other evidence available to the Holders upon reasonable request to the paying agent. 

The obligation to pay Additional Amounts with respect to any taxes, duties, assessments or other governmental charges shall not apply to
(A) any estate, inheritance, gift, sales, transfer, personal property or any similar tax, duty, assessment, fee or other governmental charge or (B) any tax, duty, assessment, fee or other governmental charge which is payable otherwise than
by withholding or deduction from payments of principal of or interest on the Securities; provided that, except as otherwise set forth in the Securities and in this Indenture, the Issuer shall pay all stamp, court or documentary taxes or any excise
or property taxes, charges or similar levies and other duties, if any, which may be imposed by Japan, the United States or any political subdivision or any taxing authority thereof or therein, with respect to the execution and enforcement of this
Indenture or as a consequence of the initial issuance, execution, delivery or registration of the Securities.” 
 (e) Section 12.02 of
the Base Indenture is hereby replaced in its entirety by a new Section 12.02, which shall read as follows: 
 “Section 12.02.
Notice of Certain Events. The Issuer shall, as soon as practicable after the Prime Minister of Japan has confirmed that Specified Item 2 Measures (tokutei dai nigo sochi) should be applied to
the Issuer or a Japanese court has publicly announced that it has granted permission to a transfer of the Issuer’s assets (including shares of the Issuer’s subsidiaries) or liabilities, or any portions thereof, in accordance with Article 126-13 of the Deposit Insurance Act, deliver a written notice of such event to the Holders and the Trustee. Any failure or delay by the Issuer to provide such written notice shall not change or delay the effect of
the acknowledgement, consent and agreement described in this Article 12. The Trustee shall be entitled to rely conclusively upon such notification of the Issuer (without further investigation or inquiry) and shall not be liable to any person for so
accepting and relying on such notification.” 

  
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 (f) Section 13.02 of the Base Indenture is hereby replaced in its entirety by a new
Section 13.02, which shall read as follows: 
 “Section 13.02. Calculation of Floating Interest. The Calculation Agent
shall calculate the interest rates and amounts of interest payable in respect of any series of floating interest rate Securities issued under this Indenture at such dates and times and in accordance with such other terms and conditions as set forth
on any Registered Security of such series. 
 Unless otherwise instructed by the Issuer, the Calculation Agent will cause the interest rate,
the number of days in, and the interest amount for, the relevant interest period and the interest payment date, in respect of each series of floating interest rate Securities to be notified to the Issuer and the Trustee, or through other reasonable
means to make such information available, in order that such information will be published or notified to the Holders of record as soon as possible after their determination but in no event later than the third day of the relevant interest period.
If the Securities become due and payable as described in Article 11 or pursuant to an acceleration upon an Event of Default other than on an interest payment date, the accrued interest payable, the interest rate, the number of days in the relevant
interest period and the interest payment date in respect of such Securities shall nevertheless continue to be calculated and notified as previously in accordance with the foregoing provisions and this Indenture. All determinations and calculations
made by the Calculation Agent, pursuant to the foregoing provisions will, in the absence of negligence, bad faith or manifest error, be binding on the Holders, the Issuer, the Trustee, the paying agent and the Calculation Agent. The interest rate
payable on any series of floating interest rate Securities issued under this Indenture will not be higher than the maximum rate permitted by the law of the State of New York as modified by United States law of general application or by Japanese law
and as notified to the Trustee, the Calculation Agent and the paying agent in writing five Business Days prior to any interest payment date, if applicable.” 

Section 4. Form of Agent Appointment Agreement. Whenever the Issuer appoints an agent with respect to the Securities of any series
other than a person who is also acting as the Trustee of such series, it will cause such agent to execute and deliver to the Trustee an instrument substantially in the form of Exhibit C to this Supplemental Indenture in which such agent shall agree
with the Issuer, among other things, to be bound by and observe the provisions of the Indenture and the Securities of such series. 

Section 5. Execution in Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of which
when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. 

  
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 Section 6. Governing Law. This Supplemental Indenture shall be governed by,
and construed in accordance with, the laws of the State of New York. 
 Section 7. Effect of Headings. The Section headings
herein are for convenience only and shall not affect the construction hereof. 
 Section 8. Binding Effect. This Supplemental
Indenture shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 [Remainder
of Page Intentionally Blank] 

  
 8 

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

			
	 SUMITOMO MITSUI FINANCIAL
GROUP, INC.

		
	 By:
	 	  

		 	Name:  [                    ]
		 	Title:    [                    ]

  

			
	 THE BANK OF NEW YORK MELLON

		
	 By:
	 	  

		 	Name:  [                    ]
		 	Title:    [                    ]

  
 [Supplemental Indenture] 

 EXHIBIT A 

[FORM OF SENIOR FIXED RATE NOTES] 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERENCED AND REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM IN ACCORDANCE WITH THE PROVISIONS OF THE INDENTURE AND THE TERMS OF THIS SECURITY, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE TO
NOMINEES OF A DEPOSITARY OR A NOMINEE THEREOF. TRANSFER OF A PORTION OF THIS SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE. IN THE EVENT THAT THIS GLOBAL SECURITY IS EXCHANGED IN WHOLE OR
IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY, ALL SUCH INDIVIDUAL SECURITIES IN THE FORM OF DEFINITIVE CERTIFICATES SHALL CONTAIN THE BELOW LEGEND WITH RESPECT TO JAPANESE TAXATION. 

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE BANK OF NEW YORK MELLON, LONDON
BRANCH OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE. 

INTEREST PAYMENTS ON THE SECURITIES WILL BE SUBJECT TO JAPANESE WITHHOLDING TAX UNLESS IT IS ESTABLISHED THAT THIS SECURITY IS HELD BY OR FOR
THE ACCOUNT OF A BENEFICIAL OWNER THAT IS (I) FOR JAPANESE TAX PURPOSES, NEITHER AN INDIVIDUAL RESIDENT OF JAPAN OR A JAPANESE CORPORATION, NOR AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN EITHER CASE IS A PERSON HAVING A SPECIAL RELATIONSHIP WITH SUMITOMO MITSUI FINANCIAL GROUP, INC. (THE “ISSUER”) AS DESCRIBED IN ARTICLE 6, PARAGRAPH (4) OF THE
ACT ON SPECIAL MEASURES CONCERNING TAXATION OF JAPAN (ACT NO. 26 OF 1957, AS AMENDED) (THE “SPECIAL TAXATION MEASURES ACT” AND, EACH SUCH PERSON, A “SPECIALLY-RELATED PERSON OF THE ISSUER”), (II) A JAPANESE
FINANCIAL INSTITUTION DESIGNATED IN ARTICLE 6, PARAGRAPH (9) OF THE SPECIAL TAXATION MEASURES ACT WHICH COMPLIES WITH THE REQUIREMENT FOR TAX EXEMPTION UNDER THAT PARAGRAPH OR (III) A JAPANESE PUBLIC CORPORATION, FINANCIAL INSTITUTION OR
FINANCIAL INSTRUMENTS BUSINESS OPERATOR DESCRIBED IN ARTICLE 3-3, PARAGRAPH (6) OF THE SPECIAL TAXATION MEASURES ACT WHICH COMPLIES WITH THE REQUIREMENT FOR TAX EXEMPTION UNDER THAT PARAGRAPH. 

 INTEREST PAYMENTS ON THIS SECURITY TO AN INDIVIDUAL RESIDENT OF JAPAN, TO A JAPANESE CORPORATION
(EXCEPT AS DESCRIBED IN THE PRECEDING PARAGRAPH), OR TO AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN EITHER CASE IS A SPECIALLY-RELATED
PERSON OF THE ISSUER WILL BE SUBJECT TO DEDUCTION IN RESPECT OF JAPANESE INCOME TAX AT A RATE OF 15.315% OF THE AMOUNT OF SUCH INTEREST. 

 SUMITOMO MITSUI FINANCIAL GROUP, INC. 

GLOBAL SECURITY 

[        ]% Senior Notes due [            ]

  

			
	 ISIN [                    ]

Common Code [                    ]
	 	A$[                    ]

 Sumitomo Mitsui Financial Group, Inc., a joint stock company (kabushiki kaisha) incorporated under the
laws of Japan (the “Issuer”, which term includes any successor under the Indenture referred to on the reverse of this Security) for value received, hereby promises to pay to THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, as
nominee of The Bank of New York Mellon, London Branch, a common depositary for Euroclear Bank SA/NV (“Euroclear”) and Clearstream Banking S.A. (“Clearstream”) or registered assigns, the principal sum of
[                ] Australian Dollars on [                ] and to pay interest thereon
from [                ] or from the most recent interest payment date to which interest has been paid or duly provided for, semiannually in arrears on
[                ] and [                ] in each year (each, an “Interest
Payment Date”) commencing [                ] at the rate per annum of [        ]%, until the principal hereof is
paid or made available for payment, all subject to and in accordance with the terms of the Indenture. The semiannual interest to be paid on the Securities will amount to A$[            ]
per each A$[1,000] in nominal amount of the Securities for each Interest Payment Date. 
 For the purposes of this Security, the term
“Business Day” means any day which is not a day on which banking institutions in Sydney, The City of New York, London or Tokyo are authorized or required by law, regulation or executive order to close. 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to
the person in whose name this Security is registered as of the close of business on the fifteenth day before the Interest Payment Date (whether or not a Business Day). If and to the extent the Issuer shall default in the payment of the interest due
on such Interest Payment Date, such defaulted interest shall be paid to the person in whose name this Security is registered at the close of business on a subsequent record date (which date shall not be less than five Business Days prior to the date
of payment of such defaulted interest), established by notice given by mail by or on behalf of the Issuer to the Holder of this Security not less than 15 days preceding such subsequent record date. Interest on this Security will accrue from the date
of original issuance or, if interest has already been paid, from the date it was most recently paid. Interest will be computed on the basis of the actual number of days in the year and the actual number of days elapsed (Act/Act (ICMA)). If any
payment is due on the Securities on a day that is not a Business Day, payment will be made on the day that is the next succeeding Business Day without any additional interest as a result of such delay. Payments postponed to the next Business Day in
this situation will be treated under the Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or the Indenture, and no interest will accrue on the postponed amount from
the original due date to the next succeeding day that is a Business Day. 

 The principal of, and interest and Additional Amounts on, the Securities will be payable in
Australian Dollars. The Issuer will cause the paying agent to pay such amounts, on the dates payment is to be made, directly to THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED. 

The Issuer will pay the Holder hereof Additional Amounts with respect to withholding taxes as are provided for, and subject to the conditions
stated, on the reverse of this Security. 
 This Security is being deposited with The Bank of New York Mellon, London Branch acting as a
common depositary of Euroclear and Clearstream, and registered in the name of THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, a nominee of the common depositary. As Holder of record of this Security, THE BANK OF NEW YORK DEPOSITORY (NOMINEES)
LIMITED shall be entitled to receive payments of principal and interest. Payments of principal and interest, including any Additional Amounts, on this Security shall be made in the manner specified on the reverse hereof and, to the extent not
inconsistent with the provisions set forth herein, in the Indenture referred herein. 
 The Securities constitute the direct, unconditional,
unsecured and unsubordinated general obligations of the Issuer and shall at all times rank pari passu without any preference among themselves and with all other unsecured obligations of the Issuer, other than subordinated obligations of the
Issuer and except for statutorily preferred obligations. The Securities are not redeemable prior to maturity, except as set forth on the reverse of this Security and will not be subject to any sinking fund. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been manually executed
by or on behalf of the Trustee under the Indenture, this Security shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Issuer has caused this Security to be duly executed. 

Date: [                    ] 

 

			
	 SUMITOMO MITSUI FINANCIAL
GROUP, INC.

		
	 By:
	 	  

		 	Name:  [                    ]
		 	Title:    [                    ]

 [Signature page to Global Security Fixed Rate Note] 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 

Date: [                    ] 

 

			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	  

		 	Name:  [                ]
		 	Title:    [                ]

 [Authentication Certificate: Global Security Fixed Rate Note] 

 [REVERSE OF SECURITY] 

Sumitomo Mitsui Financial Group, Inc. 

[        ]% Senior Notes due [        ] 

This Security is one of a duly authorized issue of unsecured bonds, debentures, notes or other evidences of indebtedness of Sumitomo Mitsui
Financial Group, Inc., a joint stock company (kabushiki kaisha) organized under the laws of Japan (herein called the “Issuer”, which term includes any successor person under the Indenture hereinafter referred) designated as
its [    ]% Senior Notes due [            ] (herein called the “Securities”), issued under and pursuant to a senior indenture dated as of March 9,
2016, as supplemented by the Supplemental Indenture dated as of September 7, 2017 (hereinafter called the “Indenture”), between the Issuer and The Bank of New York Mellon, as trustee (herein called the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and any other indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights,
obligations, duties and immunities thereunder of the Trustee and any agent of the Trustee, any paying agent, the Issuer and the Holders of the Securities and of the terms upon which the Securities are issued and are to be authenticated and
delivered. 
 This Security is one of the series designated on the face hereof. By the terms of the Indenture, additional Securities of this
series and of other separate series, which may vary as to denomination, date, amount, stated maturity (if any), interest rate or method of calculating the interest rate and in other respects as therein provided, may be issued in an unlimited amount.

 The principal of and interest (and any Additional Amounts) on the Securities shall be payable in Australian Dollars or in such other coin
or currency of the Commonwealth of Australia as at the time of payment is legal tender for the payment of public and private debts. So long as any of the Securities are held in global form, payments of principal and interest on such Securities shall
be made by wire transfer in immediately available funds in Australian Dollars to the accounts specified by the Holders of this Registered Global Security. Otherwise, with respect to Securities in definitive form, the paying agent will make all
payments by wire transfer in immediately available and cleared funds to the accounts specified by the Holders thereof prior to the record date immediately preceding the relevant Interest Payment Date or the relevant date of redemption or maturity,
as the case may be. With respect to Securities in definitive form, the Issuer (when acting as the paying agent) will make payment by wire transfer of immediately available and cleared funds to the accounts specified by the Holders thereof or, if no
such account is specified, the Issuer may make payments by mailing a check to each Holder’s registered address; provided, however, that in the case of such a payment of principal, the Securities shall have been surrendered to the paying agent
at the Corporate Trust Office of the Trustee or at any office or agency maintained by the Issuer for such purpose for payment together with such notice. 

 All payments of principal and interest in respect of the Securities will be made by the Issuer
without withholding or deduction for or on account of any present or future taxes, duties, assessments or other governmental charges of whatever nature imposed or levied by or on behalf of Japan, or any authority thereof or therein having power to
tax (“Taxes”) unless such withholding or deduction is required by law. In such event, the Issuer shall pay to a Holder such additional amounts (“Additional Amounts”) as will result in the receipt by the Holder of
such amounts as would have been received by it had no such withholding or deduction been required, except that no such Additional Amounts shall be payable with respect to any Securities under any of the following circumstances: 

 

	 	(i)	the Holder or beneficial owner of the Securities is an individual non-resident of Japan or a non-Japanese corporation and is liable for
such Taxes in respect of such Securities by reason of its (A) having some connection with Japan other than the mere holding of such Securities or (B) being a person having a special relationship with the Issuer as described in Article 6,
paragraph (4) of the Act on Special Measures Concerning Taxation of Japan (Act No. 26 of 1957, as amended) (the “Special Taxation Measures Act” and, each such person, a “specially-related person of the
Issuer”); 

  

	 	(ii)	the Holder or beneficial owner of the Securities would otherwise be exempt from any such withholding or deduction but fails to comply with any applicable requirement to provide Interest Recipient Information (as defined
below) or to submit a Tax Exemption Application (as defined below) to the relevant paying agent to whom the relevant Securities are presented (where presentation is required), or whose Interest Recipient Information is not duly communicated through
the relevant Participant (as defined below) and the relevant international Clearing Organization to such paying agent; 

  

	 	(iii)	the Holder or beneficial owner of the Securities is for Japanese tax purposes treated as an individual resident of Japan or a Japanese corporation (except for (A) a Designated Financial Institution (as defined
below) that complies with the requirement to provide Interest Recipient Information or to submit a Tax Exemption Application and (B) an individual resident of Japan or a Japanese corporation that duly notifies (directly or through the relevant
Participant or otherwise) the relevant paying agent of its status as not being subject to withholding or deduction by the Issuer by reason of receipt by such individual resident of Japan or Japanese corporation of interest on the relevant Securities
through a payment handling agent in Japan appointed by it); 

  

	 	(iv)	the Securities are presented for payment (where presentation is required) more than 30 days after the day on which such payment on the Securities became due or after the full payment was provided for, whichever occurs
later, except to the extent that the Holder thereof would have been entitled to Additional Amounts on presenting the same for payment on the last day of such period of 30 days; 

	 	(v)	the withholding or deduction is imposed on a Holder or beneficial owner who could have avoided such withholding or deduction by presenting its Securities (where presentation is required) to another paying agent
maintained by the Issuer; 

  

	 	(vi)	the Holder is a fiduciary or partnership or is not the sole beneficial owner of the payment of the principal of, or any interest on, any Security, and Japanese law requires the payment to be included for tax purposes in
the income of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner, in each case, who would not have been entitled to such Additional Amounts had it been the beneficial owner of such Security;
or 

  

	 	(vii)	any combination of the above. 

 No Additional Amounts will be payable for or on account of any
deduction or withholding imposed pursuant to Sections 1471-1474 of the U.S. Internal Revenue Code and the U.S. Treasury regulations thereunder (“FATCA”), any intergovernmental agreement entered into with respect to FATCA, or any
law, regulation or other official guidance enacted or published in any jurisdiction implementing, or relating to, FATCA or any intergovernmental agreement. 

Where Securities are held through a participant of an international Clearing Organization or a financial intermediary (each, a
“Participant”), in order to receive payments free of withholding or deduction by the Issuer for or on account of Taxes, if the relevant beneficial owner is (A) an individual non-resident
of Japan or a non-Japanese corporation (other than a specially-related person of the Issuer) or (B) a Japanese financial institution falling under certain categories prescribed by the Special Taxation
Measures Act (a “Designated Financial Institution”), each such beneficial owner shall, at the time of entrusting a Participant with the custody of the relevant Securities, provide certain information prescribed by the Special
Taxation Measures Act to enable the Participant to establish that such beneficial owner is exempted from the requirement for withholding or deduction of such Taxes (“Interest Recipient Information”), and advise the Participant if
the beneficial owner ceases to be so exempted (including the case in which a beneficial owner who is an individual non-resident of Japan or a non-Japanese corporation
becomes a specially-related person of the Issuer). 
 Where Securities are not held through a Participant, in order to receive payments free
of withholding or deduction by the Issuer for or on account of Taxes, if the relevant beneficial owner is (A) an individual non-resident of Japan or a non-Japanese
corporation (other than a specially-related person of the Issuer) or (B) a Designated Financial Institution, each such beneficial owner shall, prior to each time at which it receives interest, submit to the relevant paying agent a written
application for tax exemption (hikazei tekiyo shinkokusho) (a “Tax Exemption Application”), in a form obtainable from the paying agent stating, inter alia, the name and address (and, if
applicable, the Japanese individual or corporation ID number) of the beneficial owner, the title of the Securities, the relevant Interest Payment Date, the amount of interest and the fact that the beneficial owner is qualified to submit the Tax
Exemption Application, together with documentary evidence regarding its identity and residence. 

 By subscribing to the Securities as part of the distribution by the underwriters under the
applicable underwriting agreement, an investor shall be deemed to have represented that it is a beneficial owner who is, (i) for Japanese tax purposes, neither an individual resident of Japan or a Japanese corporation, nor an individual non-resident of Japan or a non-Japanese corporation that in either case is a specially-related person of the Issuer or (ii) a Japanese financial institution, designated
in Article 6, Paragraph (9) of the Special Taxation Measures Act. 
 The Issuer shall make any required withholding or deduction and
remit the full amount withheld or deducted to the Japanese taxing authority in accordance with applicable law. The Issuer shall use reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any tax, duty, assessment,
fee or other governmental charge so withheld or deducted from the Japanese taxing authority imposing such tax, duty, assessment or other governmental charge, and if certified copies are not available, the Issuer shall use reasonable efforts to
obtain other evidence satisfactory to the paying agent, and the paying agent shall make such certified copies or other evidence available to the Holders upon reasonable request to the paying agent. 

If (i) subsequent to making a payment on this Security without withholding or deduction of Japanese taxes the Issuer is required to remit
to the Japanese taxing authority any amount in respect of Japanese taxes that should have been withheld or deducted from such payment (together with any interest and penalties) due to the failure of the beneficial owner to provide accurate Interest
Recipient Information or to otherwise properly claim an exemption from Japanese taxes imposed with respect to such payment, and (ii) such beneficial owner would not have been entitled to receive Additional Amounts with respect to such payment
had Japanese taxes been withheld from the payment when it was made, such beneficial owner (but not any subsequent beneficial owner of such Security) shall be required to reimburse the Issuer, in Japanese yen, for the amount remitted by the Issuer to
the Japanese taxing authority. 
 The obligation to pay Additional Amounts with respect to any taxes, duties, assessments or other
governmental charges shall not apply to (A) any estate, inheritance, gift, sales, transfer, personal property or any similar tax, duty, assessment, fee or other governmental charge or (B) any tax, duty, assessment, fee or other
governmental charge which is payable otherwise than by withholding or deduction from payments of principal of or interest on this Security; provided that, except as otherwise set forth herein and in the Indenture, the Issuer shall pay all stamp,
court or documentary taxes or any excise or property taxes, charges or similar levies and other duties, if any, which may be imposed by Japan, the United States or any political subdivision or any taxing authority thereof or therein, with respect to
the execution and enforcement of the Indenture or as a consequence of the initial issuance, execution, delivery or registration of this Security. 

 The Securities may be redeemed at the option of the Issuer, in whole, but not in part, subject to
prior confirmation of the FSA, if such confirmation is required under applicable Japanese laws or regulations then in effect, at any time, on giving not less than 30 nor more than 60 days’ notice of redemption to the Holders of the series to be
redeemed (which notice shall be irrevocable and shall conform to all requirements with respect to such notice as set forth in the Indenture) at a redemption price equal to 100% of the principal amount of the Securities together with any accrued and
unpaid interest (including Additional Amounts with respect thereto, if any) to (but excluding) the date fixed for redemption, if the Issuer is or will be obliged to pay Additional Amounts as a result of any change in, or amendment to, the laws or
regulations of Japan or any political subdivision or any authority thereof or therein having power to tax, or any change in application or official interpretation of such laws or regulations, which change or amendment becomes effective on or after
the date of the issuance of the relevant series of Securities and such obligation cannot be avoided by the Issuer through the taking of reasonable measures available to the Issuer; provided, that no such notice of redemption shall be given sooner
than 90 days prior to the earliest date on which the Issuer would be obliged to pay such Additional Amounts were a payment then due in respect of the relevant Securities. 

Notwithstanding anything to the contrary in the Indenture or the Securities, each Holder and the Trustee acknowledge, consent and agree
(a) for a period of 30 days from and including the date upon which the Prime Minister of Japan confirms that Specified Item 2 Measures (tokutei dai nigo sochi) should be applied to the Issuer, not to initiate any action to attach any of
the Issuer’s assets, the attachment of which has been prohibited by designation of the Prime Minister of Japan pursuant to Article 126-16 of the Deposit Insurance Act, and (b) to any transfer of the
Issuer’s assets (including shares of the Issuer’s subsidiaries) or liabilities, or any portions thereof, with permission of a Japanese court in accordance with Article 126-13 of the Deposit Insurance
Act, including any such transfer made pursuant to the authority of the Deposit Insurance Corporation of Japan to represent and manage and dispose of the Issuer’s assets under Article 126-5 of the Deposit
Insurance Act, and that any such transfer shall not constitute a sale or disposal of the Issuer’s properties or assets for the purpose of Article 8 of the Indenture. 

The Issuer shall, as soon as practicable after the Prime Minister of Japan has confirmed that Specified Item 2 Measures (tokutei dai nigo
sochi) should be applied to the Issuer or a Japanese court has publicly announced that it has granted permission to a transfer of the Issuer’s assets (including shares of the Issuer’s subsidiaries) or liabilities, or any portions
thereof, in accordance with Article 126-13 of the Deposit Insurance Act, deliver a written notice of such event to the Holders and the Trustee. Any failure or delay by the Issuer to provide such written notice
shall not change or delay the effect of the acknowledgement, consent and agreement described in the preceding paragraph. 
 A Holder of
Securities issued in definitive form may transfer or exchange Securities in accordance with the Indenture. As described in the legend on the face of this Registered Global Security, interest payments on such Securities issued in definitive form will
be subject to Japanese income taxation unless the Holder establishes the matters set forth therein. Such legend concerning Japanese taxation shall also be included on the face of any Securities issued in definitive form. The registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and to pay any taxes and fees required by law or permitted by the Indenture. The Issuer will treat the registered Holder of a Security as
the owner of that Security for all purposes, except as described above. 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Issuer and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Issuer and the Trustee with the consent of the Holders of not less than a
majority in aggregate principal amount of the Securities at the time Outstanding of all series to be affected (voting as one class). The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in the Indenture and
subject to certain limitations therein set forth, the transfer of this Security is registrable, upon surrender of this Security for registration of transfer at the office or agency of the registrar in any place where the principal of and interest on
this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the registrar and transfer agent duly executed by, the Holder hereof or his attorney duly authorized in writing
and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of A$[2,000] and integral multiples of
A$[1,000] in excess thereof (sales in Australia subject to a minimum consideration of A$[500,000]). As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate
principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange; provided, however, the Issuer may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
 Prior to due presentment of this
Security for registration of transfer, the Issuer, the Trustee, the paying agent, the transfer agent, the registrar and any agent of the Issuer, the Trustee, the paying agent, the transfer agent or the registrar may deem and treat the person in
whose name this Security is registered upon the Security register as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Issuer nor the Trustee, the paying agent, the transfer agent, the registrar nor any such
agent shall be affected by notice to the contrary. 

 No reference herein to the Indenture and no provision of this Security or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and rate, and in the coin or currency, as herein prescribed. 

This Security is governed by and shall be construed in accordance with the laws of the State of New York. 

All capitalized terms used and not defined herein shall have the meanings assigned to them in the Indenture. 

 EXHIBIT B 

[FORM OF SENIOR FLOATING RATE NOTES] 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERENCED AND REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM IN ACCORDANCE WITH THE PROVISIONS OF THE INDENTURE AND THE TERMS OF THIS SECURITY, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE TO
NOMINEES OF A DEPOSITARY OR A NOMINEE THEREOF. TRANSFER OF A PORTION OF THIS SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE. IN THE EVENT THAT THIS GLOBAL SECURITY IS EXCHANGED IN WHOLE OR
IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY, ALL SUCH INDIVIDUAL SECURITIES IN THE FORM OF DEFINITIVE CERTIFICATES SHALL CONTAIN THE BELOW LEGEND WITH RESPECT TO JAPANESE TAXATION. 

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE BANK OF NEW YORK MELLON, LONDON
BRANCH OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE. 

INTEREST PAYMENTS ON THE SECURITIES WILL BE SUBJECT TO JAPANESE WITHHOLDING TAX UNLESS IT IS ESTABLISHED THAT THIS SECURITY IS HELD BY OR FOR
THE ACCOUNT OF A BENEFICIAL OWNER THAT IS (I) FOR JAPANESE TAX PURPOSES, NEITHER AN INDIVIDUAL RESIDENT OF JAPAN OR A JAPANESE CORPORATION, NOR AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN EITHER CASE IS A PERSON HAVING A SPECIAL RELATIONSHIP WITH SUMITOMO MITSUI FINANCIAL GROUP, INC. (THE “ISSUER”) AS DESCRIBED IN ARTICLE 6, PARAGRAPH (4) OF THE
ACT ON SPECIAL MEASURES CONCERNING TAXATION OF JAPAN (ACT NO. 26 OF 1957, AS AMENDED) (THE “SPECIAL TAXATION MEASURES ACT” AND, EACH SUCH PERSON, A “SPECIALLY-RELATED PERSON OF THE ISSUER”), (II) A JAPANESE
FINANCIAL INSTITUTION DESIGNATED IN ARTICLE 6, PARAGRAPH (9) OF THE SPECIAL TAXATION MEASURES ACT WHICH COMPLIES WITH THE REQUIREMENT FOR TAX EXEMPTION UNDER THAT PARAGRAPH OR (III) A JAPANESE PUBLIC CORPORATION, FINANCIAL INSTITUTION OR
FINANCIAL INSTRUMENTS BUSINESS OPERATOR DESCRIBED IN ARTICLE 3-3, PARAGRAPH (6) OF THE SPECIAL TAXATION MEASURES ACT WHICH COMPLIES WITH THE REQUIREMENT FOR TAX EXEMPTION UNDER THAT PARAGRAPH. 

 INTEREST PAYMENTS ON THIS SECURITY TO AN INDIVIDUAL RESIDENT OF JAPAN, TO A JAPANESE CORPORATION
(EXCEPT AS DESCRIBED IN THE PRECEDING PARAGRAPH), OR TO AN INDIVIDUAL NON-RESIDENT OF JAPAN OR A NON-JAPANESE CORPORATION THAT IN EITHER CASE IS A SPECIALLY-RELATED
PERSON OF THE ISSUER WILL BE SUBJECT TO DEDUCTION IN RESPECT OF JAPANESE INCOME TAX AT A RATE OF 15.315% OF THE AMOUNT OF SUCH INTEREST. 

 SUMITOMO MITSUI FINANCIAL GROUP, INC. 

GLOBAL SECURITY 
 Senior Floating
Rate Notes due [        ] 
  

	 ISIN [                    ] 
	 A$[                    ]

 Common Code [                    ]

 Sumitomo Mitsui Financial Group, Inc., a joint stock company (kabushiki kaisha) incorporated under the laws of Japan (the
“Issuer”, which term includes any successor under the Indenture referred to on the reverse of this Security) for value received, hereby promises to pay to THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, as nominee of The Bank of
New York Mellon, London Branch, a common depositary for Euroclear Bank SA/NV (“Euroclear”) and Clearstream Banking S.A. (“Clearstream”) or registered assigns, the principal sum of
[                    ] Australian Dollars on
[                    ] (the “Maturity Date”) (subject to adjustment as set forth below) and to pay interest thereon from
[                    ] or from the most recent interest payment date to which interest has been paid or duly provided for, quarterly in arrears on
[                    ], [                    ],
[                    ] and [                    ]
in each year (each, an “Interest Payment Date”) commencing [                    ], subject to adjustments to make such date a
Business Day as described below, at the Interest Rate as set forth below, until the principal hereof is paid or made available for payment, all subject to and in accordance with the terms of the Indenture. 

For the purposes of this Security, the term “Business Day” means any day which is not a day on which banking institutions in
Sydney, The City of New York, London or Tokyo are authorized or required by law, regulation or executive order to close. If any Interest Payment Date of the Securities (other than the Maturity Date) would otherwise fall on a day that is not a
Business Day, the Interest Payment Date will be adjusted to be the next succeeding day that is a Business Day, unless such Business Day is in the next succeeding month, in which case such Interest Payment Date will be the immediately preceding
Business Day. 
 In the event the Maturity Date is not a Business Day, the payment of interest and principal in respect of the Securities
will be made on the next succeeding day that is a Business Day, and no interest on such payment shall accrue for the period from and after
[                    ]. 
 The
“Interest Rate” for the Securities will accrue at a floating rate per annum, reset quarterly, equal to the Australian Dollar three-month Bank Bill Swap rate (the “BBSW Rate”) plus
[        ]%, determined by the Calculation Agent (as defined below) for this Security as described below. 

Each period beginning on (and including) an Interest Payment Date (after any adjustments to make such date a Business Day) and ending on (but
excluding) the immediately succeeding Interest Payment Date (after any adjustments to make such date a Business Day) is referred to as an “Interest Period”. The first Interest Period will begin on (and include)
[                    ] and will end on (but exclude) the first Interest Payment Date (after any adjustments to make such date a Business Day). 

 The Calculation Agent will reset the Interest Rate for each Interest Period on the first day of
each Interest Period (each an “Interest Reset Date”). The Interest Rate set on a particular Interest Reset Date will remain in effect during the Interest Period commencing on such Interest Reset Date. The Calculation Agent will
determine the applicable Interest Rate and calculate the amount of interest (the “Interest Amount”) payable on the Securities in any Interest Period on the first day of that Interest Period (the “Interest Determination
Date”). 

[                    ] as calculation
agent (in such capacity together with any successor, the “Calculation Agent”) will determine the BBSW Rate for any Interest Period on the following basis: 

(i) The Calculation Agent will determine the BBSW Rate (expressed as a percentage per annum) having a tenor closest to
the Interest Period of three months that is designated as the “AVG MID” on the Reuters Screen BBSW Page at approximately 10:10 a.m., Sydney time, on the Interest Determination Date. “Reuters Screen BBSW Page” means the display
which appears on the display on Reuters (or any successor service) as page “BBSW” (or any other page as may replace such page), for the purpose of displaying BBSW rates or base lending rates of major Australian banks. 

(ii) If the rate is not published prior to 10:30 a.m., Sydney time, on the Interest Determination Date, then the BBSW Rate will
be the rate determined by the Calculation Agent to be the average of the buying rates quoted by three Reference Banks at or about that time on that date. The buying rates must be for bills of exchange accepted by a leading Australian bank and which
have a term equivalent to the period. The Calculation Agent will determine the arithmetic mean, rounded to the nearest one ten-thousandth of a percentage point (.0001), with five hundred-thousandths of a
percentage point rounded upwards, e.g., 9.87645% (or 0.0987645) being rounded to 9.8765% (or 0.098765) of such quotations. “Reference Bank” means any financial institution authorized to quote on the Reuters Screen BBSW Page. 

(iii) The Interest Rate payable on the Securities will not be higher than the maximum rate permitted by the law of the State of
New York as modified by United States law of general application or by Japanese law and as notified to the Trustee, the Calculation Agent and the paying agent in writing five Business Days prior to each Interest Payment Date, if applicable. The
Interest Rate payable on the Securities will not be lower than zero. 
 The Calculation Agent will calculate the Interest Amount for such
Interest Period by applying the Interest Rate for such Interest Period to the principal amount of the Securities, multiplying the product by the actual number of days in such Interest Period, divided by 365 and rounding the resulting figure to the
nearest cent (half a cent being rounded upwards). Interest will be calculated per each A$[1,000] in nominal amount of the Securities and rounded to the nearest cent (half a cent being rounded upwards). 

 All determinations, calculations and quotations made or obtained for the purposes of calculating
the Interest Rate and the Interest Amount, will, in the absence of negligence, bad faith or manifest error, be binding on the Issuer, the Calculation Agent, the paying agent, the Trustee and the Holders of the Securities. 

The Calculation Agent will cause the Interest Rate, the number of days in the Interest Period, the Interest Amount for each Interest Period
and the Interest Payment Date to be notified to the Issuer and the Trustee. The Interest Payment Date so notified or published may subsequently be amended. 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to
the person in whose name this Security is registered as of the close of business on the fifteenth day before the Interest Payment Date (whether or not a Business Day). If and to the extent the Issuer shall default in the payment of the interest due
on such Interest Payment Date, such defaulted interest shall be paid to the person in whose name this Security is registered at the close of business on a subsequent record date (which date shall not be less than five Business Days prior to the date
of payment of such defaulted interest), established by notice given by mail by or on behalf of the Issuer to the Holder of this Security not less than 15 days preceding such subsequent record date. Interest on this Security will accrue from the date
of original issuance or, if interest has already been paid, from the date it was most recently paid. Interest will be computed on the basis of the actual number of days in the period from and including the date on which interest begins to accrue to
but excluding the date on which it falls due and a 365-day year. 
 The principal of, and interest
and Additional Amounts on, the Securities will be payable in Australian Dollars. The Issuer will cause the paying agent to pay such amounts, on the dates payment is to be made, directly to THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED. 

The Issuer will pay the Holder hereof Additional Amounts with respect to withholding taxes as are provided for, and subject to the conditions
stated, on the reverse of this Security. 
 This Security is being deposited with The Bank of New York Mellon, London Branch acting as a
common depositary of Euroclear and Clearstream, and registered in the name of THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, a nominee of the common depositary. As Holder of record of this Security, THE BANK OF NEW YORK DEPOSITORY (NOMINEES)
LIMITED shall be entitled to receive payments of principal and interest. Payments of principal and interest, including any Additional Amounts, on this Security shall be made in the manner specified on the reverse hereof and, to the extent not
inconsistent with the provisions set forth herein, in the Indenture referred herein. 

 The Securities constitute the direct, unconditional, unsecured and unsubordinated general
obligations of the Issuer and shall at all times rank pari passu without any preference among themselves and with all other unsecured obligations of the Issuer, other than subordinated obligations of the Issuer and except for
statutorily preferred obligations. The Securities are not redeemable prior to maturity, except as set forth on the reverse of this Security and will not be subject to any sinking fund. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been manually executed
by or on behalf of the Trustee under the Indenture, this Security shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Issuer has caused this Security to be duly executed. 

Date: [                ] 

 

			
	 SUMITOMO MITSUI FINANCIAL
GROUP, INC.

		
	 By:
	 	  

		 	Name:  [                    ]
		 	Title:    [                    ]

 [Signature page to Global Security Floating Rate Note] 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 

Date: [                ] 

 

			
	 THE BANK OF NEW YORK MELLON, as Trustee

		
	 By:
	 	  

		 	Name:  [                    ]
		 	Title:    [                    ]

 [Authentication Certificate: Global Security Floating Rate Note] 

 [REVERSE OF SECURITY] 

Sumitomo Mitsui Financial Group, Inc. 

Senior Floating Rate Notes due [            ] 

This Security is one of a duly authorized issue of unsecured bonds, debentures, notes or other evidences of indebtedness of Sumitomo Mitsui
Financial Group, Inc., a joint stock company (kabushiki kaisha) organized under the laws of Japan (herein called the “Issuer”, which term includes any successor person under the Indenture hereinafter referred) designated as
its Senior Floating Rate Notes due [            ] (herein called the “Securities”), issued under and pursuant to a senior indenture dated as of March 9, 2016, as
supplemented by the Supplemental Indenture dated as of September 7, 2017 (hereinafter called the “Indenture”), between the Issuer and The Bank of New York Mellon, as trustee (herein called the “Trustee”, which
term includes any successor trustee under the Indenture), to which Indenture and any other indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, obligations, duties and immunities
thereunder of the Trustee and any agent of the Trustee, any paying agent, the Issuer and the Holders of the Securities and of the terms upon which the Securities are issued and are to be authenticated and delivered. 

This Security is one of the series designated on the face hereof. By the terms of the Indenture, additional Securities of this series and of
other separate series, which may vary as to denomination, date, amount, stated maturity (if any), interest rate or method of calculating the interest rate and in other respects as therein provided, may be issued in an unlimited amount. 

The principal of and interest (and any Additional Amounts) on the Securities shall be payable in Australian Dollars or in such other coin or
currency of the Commonwealth of Australia as at the time of payment is legal tender for the payment of public and private debts. So long as any of the Securities are held in global form, payments of principal and interest on such Securities shall be
made by wire transfer in immediately available funds in Australian Dollars to the accounts specified by the Holders of this Registered Global Security. Otherwise, with respect to Securities in definitive form, the paying agent will make all payments
by wire transfer in immediately available and cleared funds to the accounts specified by the Holders thereof prior to the record date immediately preceding the relevant Interest Payment Date or the relevant date of redemption or maturity, as the
case may be. With respect to Securities in definitive form, the Issuer (when acting as the paying agent) will make payment by wire transfer of immediately available and cleared funds to the accounts specified by the Holders thereof or, if no such
account is specified, the Issuer may make payments by mailing a check to each Holder’s registered address; provided, however, that in the case of such a payment of principal, the Securities shall have been surrendered to the paying agent at the
Corporate Trust Office of the Trustee or at any office or agency maintained by the Issuer for such purpose for payment together with such notice. 

 All payments of principal and interest in respect of the Securities will be made by the Issuer
without withholding or deduction for or on account of any present or future taxes, duties, assessments or other governmental charges of whatever nature imposed or levied by or on behalf of Japan, or any authority thereof or therein having power to
tax (“Taxes”) unless such withholding or deduction is required by law. In such event, the Issuer shall pay to a Holder such additional amounts (“Additional Amounts”) as will result in the receipt by the Holder of
such amounts as would have been received by it had no such withholding or deduction been required, except that no such Additional Amounts shall be payable with respect to any Securities under any of the following circumstances: 

 

	 	(i)	the Holder or beneficial owner of the Securities is an individual non-resident of Japan or a non-Japanese corporation and is liable for
such Taxes in respect of such Securities by reason of its (A) having some connection with Japan other than the mere holding of such Securities or (B) being a person having a special relationship with the Issuer as described in Article 6,
paragraph (4) of the Act on Special Measures Concerning Taxation of Japan (Act No. 26 of 1957, as amended) (the “Special Taxation Measures Act” and, each such person, a “specially-related person of the
Issuer”); 

  

	 	(ii)	the Holder or beneficial owner of the Securities would otherwise be exempt from any such withholding or deduction but fails to comply with any applicable requirement to provide Interest Recipient Information (as defined
below) or to submit a Tax Exemption Application (as defined below) to the relevant paying agent to whom the relevant Securities are presented (where presentation is required), or whose Interest Recipient Information is not duly communicated through
the relevant Participant (as defined below) and the relevant international Clearing Organization to such paying agent; 

  

	 	(iii)	the Holder or beneficial owner of the Securities is for Japanese tax purposes treated as an individual resident of Japan or a Japanese corporation (except for (A) a Designated Financial Institution (as defined
below) that complies with the requirement to provide Interest Recipient Information or to submit a Tax Exemption Application and (B) an individual resident of Japan or a Japanese corporation that duly notifies (directly or through the relevant
Participant or otherwise) the relevant paying agent of its status as not being subject to withholding or deduction by the Issuer by reason of receipt by such individual resident of Japan or Japanese corporation of interest on the relevant Securities
through a payment handling agent in Japan appointed by it); 

  

	 	(iv)	the Securities are presented for payment (where presentation is required) more than 30 days after the day on which such payment on the Securities became due or after the full payment was provided for, whichever occurs
later, except to the extent that the Holder thereof would have been entitled to Additional Amounts on presenting the same for payment on the last day of such period of 30 days; 

	 	(v)	the withholding or deduction is imposed on a Holder or beneficial owner who could have avoided such withholding or deduction by presenting its Securities (where presentation is required) to another paying agent
maintained by the Issuer; 

  

	 	(vi)	the Holder is a fiduciary or partnership or is not the sole beneficial owner of the payment of the principal of, or any interest on, any Security, and Japanese law requires the payment to be included for tax purposes in
the income of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner, in each case, who would not have been entitled to such Additional Amounts had it been the beneficial owner of such Security;
or 

  

	 	(vii)	any combination of the above. 

 No Additional Amounts will be payable for or on account of any
deduction or withholding imposed pursuant to Sections 1471-1474 of the U.S. Internal Revenue Code and the U.S. Treasury regulations thereunder (“FATCA”), any intergovernmental agreement entered into with respect to FATCA, or any
law, regulation or other official guidance enacted or published in any jurisdiction implementing, or relating to, FATCA or any intergovernmental agreement. 

Where Securities are held through a participant of an international Clearing Organization or a financial intermediary (each, a
“Participant”), in order to receive payments free of withholding or deduction by the Issuer for or on account of Taxes, if the relevant beneficial owner is (A) an individual non-resident
of Japan or a non-Japanese corporation (other than a specially-related person of the Issuer) or (B) a Japanese financial institution falling under certain categories prescribed by the Special Taxation
Measures Act (a “Designated Financial Institution”), each such beneficial owner shall, at the time of entrusting a Participant with the custody of the relevant Securities, provide certain information prescribed by the Special
Taxation Measures Act to enable the Participant to establish that such beneficial owner is exempted from the requirement for withholding or deduction of such Taxes (“Interest Recipient Information”), and advise the Participant if
the beneficial owner ceases to be so exempted (including the case in which a beneficial owner who is an individual non-resident of Japan or a non-Japanese corporation
becomes a specially-related person of the Issuer). 
 Where Securities are not held through a Participant, in order to receive payments free
of withholding or deduction by the Issuer for or on account of Taxes, if the relevant beneficial owner is (A) an individual non-resident of Japan or a non-Japanese
corporation (other than a specially-related person of the Issuer) or (B) a Designated Financial Institution, each such beneficial owner shall, prior to each time at which it receives interest, submit to the relevant paying agent a written
application for tax exemption (hikazei tekiyo shinkokusho) (a “Tax Exemption Application”), in a form obtainable from the paying agent stating, inter alia, the name and address (and, if
applicable, the Japanese individual or corporation ID number) of the beneficial owner, the title of the Securities, the relevant Interest Payment Date, the amount of interest and the fact that the beneficial owner is qualified to submit the Tax
Exemption Application, together with documentary evidence regarding its identity and residence. 

 By subscribing to the Securities as part of the distribution by the underwriters under the
applicable underwriting agreement, an investor shall be deemed to have represented that it is a beneficial owner who is, (i) for Japanese tax purposes, neither an individual resident of Japan or a Japanese corporation, nor an individual non-resident of Japan or a non-Japanese corporation that in either case is a specially-related person of the Issuer or (ii) a Japanese financial institution, designated
in Article 6, Paragraph (9) of the Special Taxation Measures Act. 
 The Issuer shall make any required withholding or deduction and
remit the full amount withheld or deducted to the Japanese taxing authority in accordance with applicable law. The Issuer shall use reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any tax, duty, assessment,
fee or other governmental charge so withheld or deducted from the Japanese taxing authority imposing such tax, duty, assessment or other governmental charge, and if certified copies are not available, the Issuer shall use reasonable efforts to
obtain other evidence satisfactory to the paying agent, and the paying agent shall make such certified copies or other evidence available to the Holders upon reasonable request to the paying agent. 

If (i) subsequent to making a payment on this Security without withholding or deduction of Japanese taxes the Issuer is required to remit
to the Japanese taxing authority any amount in respect of Japanese taxes that should have been withheld or deducted from such payment (together with any interest and penalties) due to the failure of the beneficial owner to provide accurate Interest
Recipient Information or to otherwise properly claim an exemption from Japanese taxes imposed with respect to such payment, and (ii) such beneficial owner would not have been entitled to receive Additional Amounts with respect to such payment
had Japanese taxes been withheld from the payment when it was made, such beneficial owner (but not any subsequent beneficial owner of such Security) shall be required to reimburse the Issuer, in Japanese yen, for the amount remitted by the Issuer to
the Japanese taxing authority. 
 The obligation to pay Additional Amounts with respect to any taxes, duties, assessments or other
governmental charges shall not apply to (A) any estate, inheritance, gift, sales, transfer, personal property or any similar tax, duty, assessment, fee or other governmental charge or (B) any tax, duty, assessment, fee or other
governmental charge which is payable otherwise than by withholding or deduction from payments of principal of or interest on this Security; provided that, except as otherwise set forth herein and in the Indenture, the Issuer shall pay all stamp,
court or documentary taxes or any excise or property taxes, charges or similar levies and other duties, if any, which may be imposed by Japan, the United States or any political subdivision or any taxing authority thereof or therein, with respect to
the execution and enforcement of the Indenture or as a consequence of the initial issuance, execution, delivery or registration of this Security. 

 The Securities may be redeemed at the option of the Issuer, in whole, but not in part, subject to
prior confirmation of the FSA, if such confirmation is required under applicable Japanese laws or regulations then in effect, at any time, on giving not less than 30 nor more than 60 days’ notice of redemption to the Holders of the series to be
redeemed (which notice shall be irrevocable and shall conform to all requirements with respect to such notice as set forth in the Indenture) at a redemption price equal to 100% of the principal amount of the Securities together with any accrued and
unpaid interest (including Additional Amounts with respect thereto, if any) to (but excluding) the date fixed for redemption, if the Issuer is or will be obliged to pay Additional Amounts as a result of any change in, or amendment to, the laws or
regulations of Japan or any political subdivision or any authority thereof or therein having power to tax, or any change in application or official interpretation of such laws or regulations, which change or amendment becomes effective on or after
the date of the issuance of the relevant series of Securities and such obligation cannot be avoided by the Issuer through the taking of reasonable measures available to the Issuer; provided, that no such notice of redemption shall be given sooner
than 90 days prior to the earliest date on which the Issuer would be obliged to pay such Additional Amounts were a payment then due in respect of the relevant Securities. 

Notwithstanding anything to the contrary in the Indenture or the Securities, each Holder and the Trustee acknowledge, consent and agree
(a) for a period of 30 days from and including the date upon which the Prime Minister of Japan confirms that Specified Item 2 Measures (tokutei dai nigo sochi) should be applied to the Issuer, not to initiate any action to attach any of
the Issuer’s assets, the attachment of which has been prohibited by designation of the Prime Minister of Japan pursuant to Article 126-16 of the Deposit Insurance Act, and (b) to any transfer of the
Issuer’s assets (including shares of the Issuer’s subsidiaries) or liabilities, or any portions thereof, with permission of a Japanese court in accordance with Article 126-13 of the Deposit Insurance
Act, including any such transfer made pursuant to the authority of the Deposit Insurance Corporation of Japan to represent and manage and dispose of the Issuer’s assets under Article 126-5 of the Deposit
Insurance Act, and that any such transfer shall not constitute a sale or disposal of the Issuer’s properties or assets for the purpose of Article 8 of the Indenture. 

The Issuer shall, as soon as practicable after the Prime Minister of Japan has confirmed that Specified Item 2 Measures (tokutei dai nigo
sochi) should be applied to the Issuer or a Japanese court has publicly announced that it has granted permission to a transfer of the Issuer’s assets (including shares of the Issuer’s subsidiaries) or liabilities, or any portions
thereof, in accordance with Article 126-13 of the Deposit Insurance Act, deliver a written notice of such event to the Holders and the Trustee. Any failure or delay by the Issuer to provide such written notice
shall not change or delay the effect of the acknowledgement, consent and agreement described in the preceding paragraph. 
 A Holder of
Securities issued in definitive form may transfer or exchange Securities in accordance with the Indenture. As described in the legend on the face of this Registered Global Security, interest payments on such Securities issued in definitive form will
be subject to Japanese income taxation unless the Holder establishes the matters set forth therein. Such legend concerning Japanese taxation shall also be included on the face of any Securities issued in definitive form. The registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and to pay any taxes and fees required by law or permitted by the Indenture. The Issuer will treat the registered Holder of a Security as
the owner of that Security for all purposes, except as described above. 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Issuer and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Issuer and the Trustee with the consent of the Holders of not less than a
majority in aggregate principal amount of the Securities at the time Outstanding of all series to be affected (voting as one class). The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in the Indenture and
subject to certain limitations therein set forth, the transfer of this Security is registrable, upon surrender of this Security for registration of transfer at the office or agency of the registrar in any place where the principal of and interest on
this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the registrar and transfer agent duly executed by, the Holder hereof or his attorney duly authorized in writing
and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of A$[2,000] and integral multiples of
A$[1,000] in excess thereof (sales in Australia subject to a minimum consideration of A$[500,000]). As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate
principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange; provided, however, the Issuer may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
 Prior to due presentment of this
Security for registration of transfer, the Issuer, the Trustee, the paying agent, the transfer agent, the registrar and any agent of the Issuer, the Trustee, the paying agent, the transfer agent or the registrar may deem and treat the person in
whose name this Security is registered upon the Security register as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Issuer nor the Trustee, the paying agent, the transfer agent, the registrar nor any such
agent shall be affected by notice to the contrary. 

 No reference herein to the Indenture and no provision of this Security or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and rate, and in the coin or currency, as herein prescribed. 

This Security is governed by and shall be construed in accordance with the laws of the State of New York. 

All capitalized terms used and not defined herein shall have the meanings assigned to them in the Indenture. 

 EXHIBIT C 

PAYING AGENT, CALCULATION AGENT, TRANSFER AGENT AND 

REGISTRAR APPOINTMENT LETTER 

[                 ] 

[                ] 

and 

[                ] 

with a copy to: 
 The Bank of New York Mellon 

101 Barclay Street 
 New York, NY 10286 

United States of America 
 Attention: Global Corporate Trust
– Sumitomo Mitsui Financial Group, Inc. 
  

	 	Re:	[                ] (the “Floating Rate Securities”) 

[                ] (together with the Floating Rate Securities,
the “Securities”) 
 Reference is hereby made to the Indenture dated as of March 9, 2016 between Sumitomo Mitsui
Financial Group, Inc., a joint stock company (kabushiki kaisha) incorporated under the laws of Japan (the “Issuer”) and The Bank of New York Mellon (the “Trustee”), as supplemented and amended by the
Supplemental Indenture dated as of September 7, 2017 (the “Indenture”). Terms used herein are used as defined in the Indenture. 

The Issuer hereby appoints [                ], as the paying
agent (the “Paying Agent”) with respect to the Securities and as the calculation agent (the “Calculation Agent”) with respect to the Floating Rate Securities, and
[                ] hereby accepts such appointments. The Issuer hereby appoints
[                ] as the transfer agent (the “Transfer Agent”) and as the registrar (the “Registrar,” and together with the Paying
Agent, the Calculation Agent and the Transfer Agent, the “Agents” and each an “Agent”)) with respect to the Securities, and
[                ] hereby accepts such appointments. By accepting such appointment, each Agent agrees to be bound by and to perform the services with respect to itself
set forth in the terms and conditions set forth in the Indenture and the Securities, as well as the following terms and conditions to all of which the Issuer agrees and to all of which the rights of the holders from time to time of the Securities
shall be subject: 

  
 C-1 

 (a) Each Agent shall be entitled to the compensation to be agreed upon in writing with the Issuer
for all services rendered by it under the Indenture, and the Issuer agrees promptly to pay such compensation and to reimburse each Agent for reasonable expenses, disbursements and advances properly incurred or made by or on behalf of it in
connection with the services rendered by it under this letter and the Indenture (including the reasonable compensation and the expenses and disbursements of its counsel) except to the extent any such expense, disbursement or advancement may arise
from such Agent’s negligence, bad faith or willful misconduct. The Issuer hereby agrees to indemnify each Agent and its agents, officers and directors and any successors thereto for, and to hold it harmless against, any loss, liability, damage,
claim or expenses arising out of or in connection with its acting as Agent hereunder and under the Indenture, including properly incurred costs and expenses of defending itself against or investigating any claim of liability and in connection with
the exercise or performance of any of its powers or duties hereunder, and the properly incurred compensation, expenses and disbursements of counsel, except to the extent such loss, liability, damage, claim or expense is due to the negligence, bad
faith or willful misconduct of such Agent. The obligations of the Issuer under this Section (a) shall survive the payment of the Securities, the termination or expiry of the Indenture or this letter, discharge of the Securities and the
resignation or removal of the Agents. Notwithstanding anything to the contrary in this letter or the Indenture, under no circumstances will the Agents be responsible or liable to any party for any special, indirect, punitive or consequential loss or
damage of any kind whatsoever (including, inter alia, loss of business, goodwill, opportunity or profit) even if advised of the likelihood of such loss on damages and regardless of the form of action. The prior sentence shall survive the
termination or expiry of this letter or the Indenture, the redemption or maturity of the Securities and the resignation or removal of the Agents. 

(b) In acting under the Indenture and in connection with the Securities, each Agent is acting solely as agent of the Issuer and does not
assume any obligation towards or relationship of agency or trust for or with any of the owners or holders of the Securities, except that all funds held by the Paying Agent for the payment of principal of, interest on, or other amounts (including
Additional Amounts) on, the Securities shall, subject to the provisions of the Indenture, be held in trust by the Paying Agent and applied as set forth in the Indenture and in the Securities, but need not be segregated from other funds held by the
Paying Agent except to the extent required by law. 
 (c) Each Agent may consult with counsel and any written advice or opinions of such
counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted to be taken by it under the Indenture in good faith and in accordance with such advice or opinions. 

(d) Each Agent shall be fully protected and shall incur no liability for or in respect of any action taken or omitted to be taken or thing
suffered by it in reliance upon any notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper party or parties. 

  
 C-2 

 (e) The Agents and any of their affiliates, in their individual capacity or any other capacity,
may become the owner of, or acquire any interest in, any Securities or other obligations of the Issuer with the same rights that each of them would have if they were not an Agent, and may engage or be interested in any financial or other transaction
with the Issuer, and may act on, or as depositary, Trustee or agent for, any committee or body of holders of Securities or other obligations of the Issuer, as freely as if they were not an Agent. 

(f) The Paying Agent shall give the Trustee written notice of any failure by the Issuer to make any payment of the principal of, or interest
on, the Securities and any other payments to be made on behalf of the Issuer under the Indenture, when the same shall be due and payable and at any time during the continuance of any such failure the Paying Agent will pay any such sums so held in
trust by it to the Trustee upon the Trustee’s written request. 
 (g) The Agents shall not be under any liability for interest on any
monies received by it pursuant to any of the provisions of the Indenture or the Securities, except as otherwise agreed in writing with the Issuer. 

(h) Each Agent shall be obligated to perform such duties and only such duties as are in the Indenture and the Securities specifically set
forth, and no implied duties or obligation shall be read into the Indenture or the Securities against any Agent. No Agent shall be under any obligation to take any action under the Indenture which may tend to involve it in any expense or liability,
the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. No Agent shall have any obligation to expend its own funds or otherwise incur any financial liability in the performance of its obligations hereunder or
under the Indenture. 
 (i) If an Event of Default occurs and is continuing, the Agents shall be required to act solely in accordance with
the Trustee’s directions. 
 (j) An Agent may at any time resign by giving 60 days’ prior written notice of its resignation to the
Issuer and the Trustee and specifying the date on which its resignation shall become effective. Upon receiving such notice of resignation, if required by the Indenture the Issuer shall promptly appoint a successor paying agent, transfer agent or
registrar, as the case may be, by written instrument substantially in the form hereof in triplicate signed on behalf of the Issuer, one copy of which shall be delivered to the resigning Agent, one copy to the successor paying agent, transfer agent
or registrar, as the case may be, and one copy to the Trustee. Upon the effectiveness of the appointment of a successor paying agent, transfer agent or registrar, as the case may be, the retired Agent shall cease to be such Agent hereunder. 

  
 C-3 

 Such resignation shall become effective upon the earlier of (i) the effective date of such
resignation and (ii) the acceptance of appointment by the successor paying agent, transfer agent or registrar, as the case may be, as provided below. The Issuer may, at any time and for any reason, remove an Agent and appoint a successor paying
agent, transfer agent or registrar, as the case may be, by written instrument in triplicate signed on behalf of the Issuer, one copy of which shall be delivered to the Agent being removed, one copy to the successor paying agent, transfer agent or
registrar, as the case may be, and one copy to the Trustee. Any removal of an Agent and any appointment of a successor paying agent, transfer agent or registrar, as the case may be, shall become effective upon acceptance of appointment by the
successor paying agent, transfer agent or registrar, as the case may be, as provided below. If no successor Agent is appointed within 30 days of resignation or removal of any Agent, the retiring Agent shall, on behalf of and at the expense of the
Issuer, appoint its successor or the retiring Agent or the Issuer may petition a court of competent jurisdiction. Upon its resignation or removal, such Agent shall be entitled to the payment by the Issuer of its compensation for the services
rendered hereunder and to the reimbursement of all reasonable out-of-pocket expenses (including properly incurred counsel fees and expenses) incurred in connection with
the services rendered by it hereunder and to the payment of all other amounts owed to it hereunder. 
 The Issuer shall remove an Agent and
appoint a successor paying agent, transfer agent or registrar, as the case may be, if such Agent (i) shall become incapable of acting, (ii) shall be adjudged bankrupt or insolvent, (iii) shall commence a voluntary case or other
proceeding seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian
or other similar official of it or any substantial part of its property, (iv) shall consent to, or shall have had entered against it a court order for, any such relief or to the appointment of or taking possession by any such official in any
involuntary case or other proceedings commenced against it, (v) shall make a general assignment for the benefit of creditors or (vi) shall fail generally to pay its debts as they become due. 

Any successor paying agent, transfer agent or registrar, as the case may be, appointed as provided herein shall execute and deliver to its
predecessor and to the Issuer and the Trustee an instrument accepting such appointment (which may be in the form of an acceptance signature to the letter of the Issuer appointing such agent) and thereupon such successor paying agent, transfer agent
or registrar, as the case may be, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as Agent and such
predecessor shall pay over to such successor paying agent, transfer agent or registrar all monies or other property at the time held by it hereunder. 

(k) Notwithstanding anything contained herein to the contrary, the Issuer hereby irrevocably agrees that any and all of the rights and
obligations of any Agent and, to the extent applicable, the obligations of the Issuer toward any Agent set forth in the Indenture shall be deemed to have been included in this letter. 

(l) Notwithstanding anything contained herein to the contrary, the obligations of the Agents under this letter are several and not joint and
should be independently construed and the Agents shall not be liable for each other’s acts or omissions to act. 

  
 C-4 

 (m) Each Agent will treat information relating to the Issuer as confidential, but (unless consent
is prohibited by law) the Issuer consents to the transfer and disclosure by the Agents of any information relating to the Issuer to and between branches, subsidiaries, representative offices, affiliates and agencies of the Agents, for internal use
only (including in connection with the provision of any service and for data processing, statistical and risk analysis purposes) to the extent (i) necessary for the Agents’ performance of their duties under this letter or
(ii) required or requested by any law, court, regulator or legal process; provided that the Agents (x) shall procure that each such branch, subsidiary, representative office, affiliate or agent to whom such disclosure is made shall not
use, transfer or disclose such confidential information in a manner not permitted under this Section (m) and (y) shall provide prior notice of such transfer or disclosure, unless prior notice is not legally permitted or would unreasonably delay
the Agents’ performance of their duties under this letter or normal operating practice, in which case the Agents shall provide notice of such transfer or disclosure within a reasonable time thereafter. 

(n) Each Agent shall at all times be a financial institution which is authorized by law to exercise its respective powers and duties hereunder
and under the Indenture and the Securities. 
 (o) Any Agent may take and instruct any delegate to take any action which it in its
discretion (acting properly in accordance with applicable laws and the Agent’s internal policies and guidelines) considers necessary so as to comply with any applicable law, regulation, request of a public or regulatory authority which relates
to the prevention of fraud, money laundering, terrorism or other criminal activities or the provision of financial and other services to sanctioned persons or entities. 

(p) Any notice or communication to the Agents will be deemed given when sent by facsimile transmission, with transmission confirmed. Any
notice to any Agent will be effective only upon receipt. The notice or communication to the Paying Agent and the Calculation Agent should be addressed to the Paying Agent and the Calculation Agent at: 

[                ] 

and with a copy to: 

[                ] 

and the notice or communication to the Registrar and Transfer Agent should be addressed to the Registrar and Transfer Agent at: 

[                ] 

and with a copy to: 

[                ] 

Any notice to the Issuer or the Trustee shall be given as set forth in the Indenture. 

  
 C-5 

 (q) Any corporation into which an Agent may be merged or converted or any corporation with which
such Agent may be consolidated or any corporation resulting from any merger, conversion or consolidation to which such Agent shall be a party or any corporation succeeding to the business of such Agent shall be the successor to such Agent hereunder
(provided that such corporation shall be qualified as aforesaid) without the execution or filing of any document or any further act on the part of any of the parties hereto. 

(r) Any amendment or supplement under Sections 7.01 and 7.02 of the Indenture that adversely affects an Agent shall not affect such
Agent’s rights, powers, obligations, duties or immunities, unless such Agent has consented thereto. 
 (s) The agreement set forth in
this letter shall be governed by the laws of the State of New York. The Issuer (i) agrees that any legal suit, action or proceeding against the Issuer arising out of or based upon this Indenture or the Securities may be instituted in any court
of the State of New York or the United States located in the Borough of Manhattan, The City of New York (each a “New York Court”), (ii) waives, to the fullest extent it may effectively do so under applicable law, any objection which
it may now or hereafter have to the laying of venue of any such proceeding in any such New York Court or any immunity it may have or hereafter acquire (on the grounds of sovereignty or otherwise) from the jurisdiction of any such New York Court or
from any legal process with respect to itself or its property and (iii) submits to the non-exclusive personal jurisdiction of any such New York Court in any such suit or proceeding. 

(t) The Issuer agrees that the provisions of Sections 5.02(g), 5.02(h), 5.02(m), 5.02(o) and 10.12 of the Indenture shall apply hereto. 

(u) The Paying Agent will from time to time receive cash from the Issuer for payment of principal, premium and/or interest in respect of the
Securities, which cash may be excessive if withholding applies to payments to be made to Holders of the Securities on the applicable payment date. The Paying Agent will be entitled to refund such excess cash to the Issuer without incurring any
liability in respect thereof. 
 (v) Notwithstanding and to the exclusion of any other term of this letter or any other agreements,
arrangements, or understanding among the parties hereto, the Issuer acknowledges and accepts that a BRRD Liability arising under this letter may be subject to the exercise of Bail-in Powers by the Relevant
Resolution Authority, and acknowledges, accepts, and agrees to be bound by: 
  

	 	(a)	the effect of the exercise of Bail-in Powers by the Relevant Resolution Authority in relation to any BRRD Liability of any BRRD Party to the Issuer under this letter, that
(without limitation) may include and result in any of the following, or some combination thereof: 

  

	 	(i)	the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon; 

  

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

  
 C-6 

	 	(iii)	the cancellation of the BRRD Liability; 

  

	 	(iv)	the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on which any payments are due, including by suspending payment for a temporary period; 

 

	 	(b)	the variation of the terms of this letter, as deemed necessary by the Relevant Resolution Authority, to give effect to the exercise of Bail-in Powers by the Relevant Resolution
Authority. 

 For the purpose of this Section (v): 

“Bail-in Legislation” means in relation to a member state of the European Economic Area which has
implemented, or which at any time implements, the BRRD, the relevant implementing law, regulation, rule or requirement as described in the EU Bail-in Legislation Schedule from time to time. 

“Bail-in Powers” means any Write-down and Conversion Powers as defined in the EU Bail-in Legislation Schedule, in relation to the relevant Bail-in Legislation. 

“BRRD” means Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms. 

“BRRD Liability” means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised. 
 “BRRD Party” means any Agent subject to the Bail-in Legislation. 
 “EU Bail-in Legislation Schedule” means
the document described as such, then in effect, and published by the Loan Market Association (or any successor person) from time to time at
http://www.lma.eu.com/documents-guidelines/eu-bail-legislation-schedule. 
 “Relevant Resolution
Authority” means the resolution authority with the ability to exercise any Bail-in Powers in relation to the relevant BRRD Party. 

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 C-7 

 IN WITNESS WHEREOF, the parties hereto have caused this letter to be duly executed as of the date
first above written. 
  

			
	SUMITOMO MITSUI FINANCIAL GROUP, INC.
		
	By:	 	  

		 	Name:  [                    ]
		 	Title:    [                    ]

 [Signature Page to Paying Agent, Calculation Agent, Transfer Agent and Registrar Appointment
Letter] 

 
			
	Agreed and accepted:
	
	
[                   
         ], as Paying Agent and Calculation Agent

		
	By:	 	  

		 	Name:  [                    ]
		 	Title:    [                    ]
	
	
[                   
         ], as Registrar and Transfer Agent

		
	 By:
	 	  

		 	
Name:  [                
    ]

		 	
Title:    [              
      ]

	
	Acknowledged:
	
	 THE BANK OF NEW YORK MELLON, as Trustee

		
	 By:
	 	  

		 	
Name:  [                
    ]

		 	
Title:    [              
      ]

 [Signature Page to Paying Agent, Calculation Agent, Transfer Agent and Registrar Appointment
Letter]EXHIBIT 10.1

 

EMPLOYMENT AGREEMENT

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the "AGREEMENT") is effective the 6th day of September, 2017, by and between ePlus inc., a Delaware corporation (the "Company" or collectively, with its subsidiaries, the "Companies") and Mark P. Marron (the "Executive").

RECITAL

The Executive is employed as Chief Executive Officer and President of the Company, and the parties have negotiated this Agreement in consideration of the Executive's valuable services and expertise.

NOW THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties do hereby agree as follows:

1.  EFFECTIVE DATE.  This Agreement shall be effective as of the date noted above.

2.  DEFINITIONS.  As used herein, the following terms shall have the following meanings:

(a)  "Disability" shall mean the Executive's physical or mental inability to perform his duties under this Agreement, for six months in any twelve month period, with at least three months running continuously, and which renders the Executive incapable of performing his customary and usual duties for the Company, with or without a reasonable accommodation as required by law.

(b)  "Employment Term" shall be the period from August 1, 2017, through and including January 31, 2018, and any renewal period thereafter.  Unless either the Company or the Executive delivers a written notice of termination to the other party, not less than 60 days prior to the end of the then-current Employment Term, then this Agreement shall automatically renew for successive two-year periods.

(c)  "Expiration Date" means the date that the Employment Term (as it may have been extended) expires.

(d)  "Good Cause" means that the Compensation Committee of the Company's Board of Directors (the "Board") in good faith determines that the Executive:

(1)  Failed to satisfactorily perform his duties to the Company and such failure was not cured within 30 days of the Company's providing Executive written notice of such failure;

(2)  Failed to comply with a material policy of the Company that was applicable to the Executive and such failure was not cured within 30 days of the Company's providing Executive written notice of such failure;

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(3)  Acted or failed to act in a manner that constitutes gross misconduct, embezzlement, misappropriation of corporate assets, breach of the duty of loyalty, fraud, or negligent or willful violations of any laws with which the Company is required to comply;

(4)  Was convicted of or entered a plea of "guilty" or "no contest" to a felony;

(5)  Refused or failed to comply with lawful and reasonable instructions of the Board and such refusal or failure was not cured within 30 days of the Company's providing Executive written notice of such refusal or failure; or

(6)  Any other material breach of this Agreement by the Executive that is not cured within 30 days of the Company's providing Executive written notice of such breach.

Good Cause shall not include failures as set forth in this Section 2(d) when such failure is a result of the Executive's illness or injury.

(e)  "Good Reason" shall mean that within 30 days prior to the Executive's providing the notice to the Company required under Section 6(b)(1) of this Agreement that any of the following has occurred:

(1)  A material change in the scope of the Executive's authority or assigned duties and responsibilities, or the assignment of duties or responsibilities that are inconsistent with the Executive's level or position, without his consent;

(2)  Any material acts of dishonesty by the Company directed toward or affecting Executive;

(3)  Any illegal act or instruction directly affecting Executive by the Company, which is not withdrawn after the Company is notified of the alleged illegality by Executive;

(4)  A reduction by the Company in the Executive's base salary as set forth herein as may be increased from time to time or a reduction by the Company in the Executive's incentive compensation;

(5)  A change in the Executive's principal office to a location outside of a 20 mile radius from the Company's offices in Herndon, Virginia;

(6)  The failure by the Company to continue to provide the Executive with benefits substantially similar to those specified in Section 5 of this Agreement;

(7)  The Company delivers a timely notice (see Section 2(b)) to the Executive that the Agreement will terminate at the end of the Employment Term, and within 30 days after receipt of said notice the Executive tenders his resignation from the Company (to be effective at the end of the Employment Term); or

(8)  Any other material breach of this Agreement by the Company that is not cured within 30 days of the Executive providing the Company written notice of such breach.

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(f)  "Termination Date" shall mean the date Executive's termination is effective, as described in the respective subparts of Section 6.

3.  EMPLOYMENT.  The Company and Executive hereby agree to employ the Executive as set forth herein during the Employment Term and until Executive's employment terminates pursuant to Section 2(b) or Section 6 below.

4.  POSITION, DUTIES AND RESPONSIBILITIES.  During the Employment Term, the Executive shall:

(a)  Serve as the Company's Chief Executive Officer and President.  The Executive's responsibilities include, but are not limited to: providing overall strategic and operational direction; establishing policies and objectives in accordance with Board directives and corporate charter; revising objectives and policies in response to change in internal and external conditions; coordinating operations between divisions and departments; establishing responsibilities and procedures for attaining objectives; reviewing operations and financial statements to evaluate achievement of objectives;

(b)  Render such other services to the Company as requested, provided that such services are consistent with the level of his position; serve as President and/or Chief Executive Officer or a comparable role in the Company's subsidiaries; and

(c)  Devote his substantially full business time, attention, skill and energy to the business of the Company and not engage or prepare to engage in any other business activity, whether or not such business activity is pursued for gain, profit or other economic or financial advantage.   Executive may engage in appropriate civic, charitable, or educational activities provided that such activities do not materially interfere or conflict with the Executive's responsibilities or the Company's interests.  Nothing in this Agreement shall preclude Executive from acquiring or managing any passive investment he has in publicly traded equity securities in companies that are not in the same line of business as the Company.

5.  COMPENSATION, COMPENSATION PLANS AND BENEFITS.  During the Employment Term, the Executive shall be compensated as follows:

(a)  Effective June 8, 2017, Executive shall receive a base annual salary of Seven Hundred Fifty Thousand Dollars ($750,000), which may be increased from time to time.

(b)  Based on applicable MBOs and company performance the Executive shall be eligible to be considered for an annual bonus as set forth in the terms and conditions as outlined in the Executive Incentive Plan ("EIP") and any applicable award agreement thereunder.  The Company shall pay any bonus earned under this Section 5(b) no earlier than the end of the fiscal year for which earned and no later than the next September 30th following the fiscal year in which the bonus was earned, provided that financial filings are timely provided to the Compensation Committee.  In no event will any bonus earned under this Section 5(b) be paid later than the next December 31st following the fiscal year for which the bonus was earned, unless calculation of the bonus is not administratively practicable by that date, and further delay would not violate Code Section 409A.

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(c)  The Executive shall be entitled to participate in and receive other benefits offered by the Company to all employees, which may include, but are not limited to, vacation, sick, holiday and other leave times, and benefits under any life, health, accident, disability, medical, and dental insurance plans.

(d)  The Executive shall be entitled to be reimbursed for the reasonable and necessary out-of-pocket expenses, including entertainment, travel and similar items, and all expenses necessary to maintain his professional, industry association memberships incurred by him in performing his duties, in accordance with the Company's expense reimbursement policies in place from time to time.  Any reimbursements that are includible in gross income of the Executive under this subsection 5(d) must meet the following conditions.  Such reimbursements: (i) must be for expenses incurred during the term of this Agreement, (ii) shall not be subject to liquidation or exchange for any other benefit, (iii) shall not affect eligibility for reimbursements in any other taxable year of the Executive, and (iv) shall be made no later than the last day of the Executive's taxable year following the taxable year in which the expense was incurred.

(e)  In the event Executive's employment with the Company terminates for any reason, any payments and benefits due the Executive under the Company's employee benefit plans and programs, including any Long-Term Incentive Plan, shall be determined in accordance with the terms of such benefit plans and programs, and shall be in addition to any other payments or benefits herein.

(f)  Not more than once every year, the Executive shall be entitled to be reimbursed by the Company for his participation in the Johns Hopkins Executive Physical Program, or an equivalent thereof.

(g)  In the event it is determined that any bonus or other incentive compensation payable by the Company to the Executive was paid based on incorrect financial results, the Compensation Committee will review such payment.  If the amount of the payment would have been lower had the level of achievement of applicable financial performance goals been calculated based on the correct financial results, the Company's Compensation Committee may, in its sole discretion, adjust (i.e., lower) the amount of such payment so that it reflects the amount that would have applied based on the correct financial results and, to the extent permitted by applicable law, require the reimbursement by Executive of any amount paid to or received by the Executive with respect to such bonus or other incentive compensation.  Additionally, bonuses or other incentive compensation payable to the Executive by the Company are subject to recovery by the Company to the extent required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the Sarbanes-Oxley Act of 2002, including any amendments thereto, and any regulations promulgated thereunder.  Except as required by law, this subsection shall not apply to time-vested stock options, restricted stock or restricted stock units which are not awarded, granted or vested based on financial measure required to be reported under the securities laws.

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    6.  TERMINATION OF EMPLOYMENT

(a)  Termination by the Company.

(1)  Termination for Good Cause.  During the Employment Term, the Company may terminate the Executive's employment for Good Cause.  In the absence of cure by the Executive as per Section 2(d), if applicable, termination by the Company for Good Cause shall be retroactive to the date the Company provides notice to the Executive of the Good Cause event.

(2)  Termination without Good Cause.  During the Employment Term, the Company may terminate the Executive's employment at any time without Good Cause upon the Company's payment to the Executive for the 30 days' written notice period to the Executive or 30 days' pay in lieu of such notice.  Termination is effective 30 days after the date the written notice of termination is provided to the Executive.  The Company may, in its sole discretion, place the Executive on paid administrative leave as of any date prior to the end of the 30-day notice period and require that the Executive no longer be present on Company premises.  During any period of paid administrative leave, the Executive is not authorized to act or speak as a representative of the Company.

(b)  Termination by Executive.

(1)  Termination for Good Reason.  During the Employment Term, the Executive may terminate his employment for Good Reason as defined in Section 2(e) only if the Executive has provided the Board with written notice of his intent to terminate his employment for Good Reason at least 30 days prior to the date of termination and the Company fails to cure the Good Reason within 30 days after receiving Executive's written notice.  Termination for Good Reason will be effective on the 31st day after the Company receives Executive's written notice and fails to cure the Good Reason identified in Executive's notice.

(2)  Termination without Good Reason.  During the Employment Term, the Executive may voluntarily terminate his employment for any (or no) reason with the Company upon 30 days prior written notice.  Termination is effective 30 days after the date the notice is provided to the Company.  The Company may, in its sole discretion, place the Executive on paid administrative leave as of any date prior to the end of the 30-day notice period and require that the Executive no longer be present on Company premises.  During any such period of paid administrative leave, the Executive is not authorized to act or speak as a representative of the Company.

(c)  Termination by Reason of Death or Disability.  Executive's employment with the Company shall be deemed to have been terminated effective upon the date of Executive's death, or the date upon which either party provides the other party with notice of Disability.

(d)  At-will Termination.  If the Employment Term ends based on the Company's delivering a notice of termination under Section 2(e)(7), then the Executive's employment with the Company may continue on an at-will basis.

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7.  EFFECT OF TERMINATION.

(a)  Termination for Any Reason.  If the Executive's employment ends at any time (during or after the Employment Term) for any reason, the Company shall pay the Executive his then current base salary and provide the Executive his then current benefits (as provided in Section 5) through the Termination Date.

(b)  Provided that after the Termination Date the Executive (i) signs in the form provided by the Company a general release of all claims Executive has or may have against the Company or its then current or former officers, directors, or employees (hereinafter "Release"), attached hereto as Exhibit 1, in the time provided in the Release, and does not revoke it; and (ii) certifies that the Executive has complied with Sections 8, 9, 10, 11 and 12 of this Agreement (confidentiality, intellectual property, non-compete, non-solicit, conflict of interest and return of property provisions), then:

(1)  Death or Disability.  If, during the Employment Term, the Executive's employment terminates by reason of death or Disability as described in Section 6(c), then:

(a)  Unvested Stock.  Executive shall be entitled to the acceleration of vesting of any restricted stock, as set forth in the relevant Long-Term Incentive Plan and award agreement;

(b)  Severance.  In the event of Disability only, the Company shall pay to Executive a cash severance in the amount equal to eighteen months of his then-base annual salary; and

(c)  EIP Award.  The Company shall pay to the Executive, or to his estate any award due under any EIP award agreement (as described in Section 5.b), in the amount due to the value of the award that otherwise would have been received based on the extent to which Performance Goals are determined to have been met by the Compensation Committee, multiplied by a fraction, the numerator of which is the number of months (including partial months) in the period beginning on the first day of the relevant performance period and ending with the date as of which the Executive's employment with the Company terminated and the denominator of which is the number of months in such performance period (the "pro-rated EIP award,").  Any such payment shall be made at the time the payment would have been made had there been no termination of employment.

Notwithstanding anything to the contrary, the release of claims requirement shall be waived if the Executive's death or Disability renders him unable to sign the Release.

(2)  Termination without Good Cause; Termination for Good Reason.  If, during the Employment Term, the Company terminates the Executive's employment without Good Cause as described in Section 6(a)(2) or Executive terminates his employment for Good Reason, as described in Section 6(b)(1), then:

(a)  The Company shall pay Executive a severance amount equal to eighteen months of his then-base annual salary;

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(b)  The Company shall either, at the Company's choice: (1) accelerate the vesting of any restricted stock owned by the Executive at the Termination Date or (2) pay to Executive an amount equal to the value of any restricted stock he forfeits at the Termination Date; and

(c)  The Company shall pay to the Executive the pro-rated EIP award, to the extent Performance Goals are met; such payment to be made at the time the payment would have been made had there been no termination of employment;

(d)  Any payment due to the Executive under this subsection 7(b) (except the EIP Award) shall be made in a lump sum within sixty (60) days following the Termination Date.

(c)  Notwithstanding the foregoing, if the Executive is a "Specified Employee" (as defined in Section 20), the payments under subsection 7(b) shall be made no earlier than the date provided in Section 20.

(d)  Any release and certification required from the Executive under the first paragraph of Section 7(b) shall be on the form attached as Exhibit 1.  The applicable release and certification must be signed and returned by Executive to the Company within the time frame set forth in the Release, and not revoked, for Executive to receive payments under Section 7(b).  Except as otherwise provided by subsection 7(b)(2)(d), and provided the requirements of this subsection 7(d) are met, any lump sum payment due Executive under subsection 7(b) shall be paid on the last day of the sixty (60) day period in which Company may make such payment in compliance with the applicable provision.

(e)  Continued Health Benefits Upon Termination.  In the event Executive's employment is terminated due to Disability, by the Company Without Good Cause, or by the Executive for Good Reason, and provided that the Executive remains eligible for and timely elects to continue his and any eligible dependents' health benefits under the Consolidated Omnibus Budget Reconciliation Act ("COBRA"), the Company shall also pay to the insurer the amount necessary for the Executive to continue medical and dental insurance for himself and his dependents through COBRA for eighteen months.  The Executive shall not be obligated in any way to mitigate the Company's obligations to him under this Section.

8.  CONFIDENTIALITY.

(a)  During the course of employment, Executive has had and shall continue to have access to the Company's Confidential Information (as defined below).  Executive shall not disclose or use at any time, either during his employment or after his employment ends for any reason, any Confidential Information (as defined below) of the Company, whether or not patentable, that Executive learns as a result of his Involvement with the Company, whether or not he developed such information.  "Involvement with the Company" means holding a position as an employee, officer, or director with either the Company or any of its subsidiaries or affiliates.  "Confidential Information" means Company information that is material to the Companies' business and that is not generally known by, or made available to, the public, and shall include, without limitation, information regarding:

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• Trade Secrets (as defined below) or proprietary information;

• Strategic sourcing information or analysis;

		•	
Patents, patent applications, developmental or experimental work, formulas, test data, prototypes, models, and product specifications;

• Accounting and financial information;

• Financial projections and pro forma financial information;

• Sales and marketing strategies, plans and programs;

• Product development and product testing information;

• Product sales and inventory information;

		•	
Personnel information, such as employees' and consultants' benefits, perquisites, salaries, stock options, compensation, formulas or bonuses;

• Organizational structure and reporting relationships;

• Business plans;

• Names, addresses, phone numbers of customers;

		•	
Contracts, including contracts with clients, suppliers, independent contractors or employees; business plans and forecasts;

• Existing and prospective projects or business opportunities; and

• Passwords and other physical and information security protocols and information.

"Trade Secrets" includes any information that derives independent economic value, actually and potentially, from not being generally known to, and is not readily being ascertainable by proper means by, other persons who may obtain economic value from their disclosure or use and that are the subject of efforts that are reasonable under the circumstances to maintain their secrecy.

(b)  Confidential Information excludes any information known to the Executive prior to his employment with the Companies regardless of whether such information would otherwise be deemed Confidential Information.  Information that is or later becomes publicly available in a manner wholly unrelated to any breach of this Agreement by Executive or other improper means will not be considered Confidential Information as of the date it enters the public domain.  If Executive is uncertain whether something is Confidential Information, Executive should treat it as Confidential Information until he receives clarification from the Board that it is not Confidential Information.  Confidential Information shall remain at all times the property of the Companies.

(c)  Executive may use or disclose Confidential Information only:

(1)  When he is employed by the Company, as authorized and necessary in performing the responsibilities of his position, provided that he has taken reasonable steps to ensure that the information remains confidential;

(2)  With prior written consent of the Board;

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(3)  In a legal proceeding between Executive and the Company to establish the rights of either party under this Agreement, provided that Executive stipulates to a protective order to prevent any unnecessary use or disclosure; or

(4)  Where such disclosure is required by law, provided that Executive has complied with the following procedures to ensure that the Companies have an adequate opportunity to protect their legal interests.

Upon receipt of a subpoena or any other compulsory legal process ("Compulsory Process") that could possibly require disclosure of Confidential Information, Executive shall make his best effort to provide within forty-eight (48) hours of receipt a copy of the Compulsory Process as well as complete information regarding the circumstances under which he received Compulsory Process to the General Counsel by hand delivery or by e-mail, provided that Executive confirms with the General Counsel by telephone that the General Counsel received the e-mail.  To provide the Company with the greatest opportunity to assess the need for protection from disclosure, Executive shall not make any disclosure until the latest possible date for making such disclosure in accordance with the Compulsory Process ("Latest Possible Date").  If one of the Companies seeks to prevent disclosure in accordance with the applicable legal procedures, and notifies Executive before the Latest Possible Date that it has initiated such procedures, Executive shall not make disclosures of any Confidential Information that is the subject of such procedures, until such objections are withdrawn, or the appropriate tribunal either makes a final determination that the objections are invalid or orders Executive to make the disclosure, unless otherwise required by law.

(d)  Executive hereby acknowledges that any breach of this Section 8 would cause the Companies irreparable harm.  Nothing in this Agreement prohibits Executive from reporting an event that he reasonably and in good faith believes is a violation of law to the relevant law-enforcement agency (such as the Securities and Exchange Commission, Department of Justice, Equal Employment Opportunity Commission, Department of Labor, National Labor Relations Board, the Congress, or any agency Inspector General), from cooperating in an investigation conducted by such a government agency, or from making other disclosures that are protected under the whistleblower provisions or state or federal law or regulation.  This may include disclosure of trade secret or confidential information within the limitations permitted by the 2016 Defend Trade Secrets Act ("DTSA").  Executive is hereby provided notice that under the  DTSA, (1) no individual will be held criminally or civilly liable under federal or state trade secret law for the disclosure of a trade secret (as defined in the Economic Espionage Act) that: (A) is made in confidence to a federal, state, or local government official, either directly or indirectly, or to his attorney, that is made solely for the purpose of reporting or investigating a suspected violation of law; or, (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public; and, (2) an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to his attorney and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal, and does not disclose the trade secret, except as permitted by court order.

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9.  INTELLECTUAL PROPERTY.  Executive acknowledges that all inventions, innovations, improvements, developments, methods, designs, analyses, drawings, reports, original works of authorship, copyrights and all similar or related information (whether or not patentable) that relate to the Companies' actual or anticipated business, research and development or existing or future products or services and which are conceived, developed or made by Executive while employed by the Companies ("Intellectual Property") belong to the Companies.  Executive agrees that both during and after his employment with the Companies that he will sign any documents or provide any information necessary for the Companies to protect their rights to such Intellectual Property.  If Executive is unavailable to sign any document that is necessary for the Companies to protect their rights to such Intellectual Property, Executive hereby authorizes the Companies to sign on his behalf.

10.  NON-COMPETITION and NON-SOLICITATION.  During Executive's employment and for a period of one year following the date on which his employment ends for any reason, (the "Restricted Period"), the Executive agrees to the following below Non-Competition and Non-Solicitation restrictions.

(a)  Non-Competition.  Executive shall not, directly or indirectly, individually or as part of or on behalf of any other person, company, employer or other entity, except with prior written approval of the Board, own, manage, operate, advise, consult with, control or otherwise be employed by or provide services to or on behalf of a Competing Business.  "Competing Business" means a business that is selling products or services similar to those products or services that any of the Covered Entities is selling as of the date the Executive's employment ends.  "Covered Entities" include the Company and any affiliated entities in which Executive is actively engaged as an officer, director or employee or about which Executive has received Confidential Information as a result of his Involvement with the Company.

(b)  Non-Solicitation of Employees.  Executive shall not, either directly or indirectly or on behalf of himself or on behalf of any other person or entity, without prior written consent from the Company, solicit or otherwise encourage in any manner: (i) an employee of the Company to leave the employ of the Company; or (ii) a former employee of the Company who was employed by the Company within the twelve (12) months immediately preceding the time of the solicitation or encouragement to work for a Competing Business.  For the purpose of this provision, "employee" shall mean an employee with whom the Executive worked or about whom the Executive had material knowledge with respect to their skills.

(c)  Non-solicitation of Customers, Potential Customers and Vendors.  Executive shall not, either directly or indirectly or on behalf of himself or on behalf of any other person or entity, without prior written consent from the Company, solicit or otherwise encourage in any manner:

(1)  Any customer of the Company, whom the Executive, while employed by the Company, rendered services to, contacted or attempted to contact, recruited or attempted to recruit, solicited or attempted to solicit to (a) end its relationship with the Company or (b) enter into or continue a relationship with another person or entity to provide the same or similar service(s) that the Company provides;

(2)  Any vendor or partner of the Company, or any other third-party, to disclose or discuss any information about any customer of the Company whom Executive, while employed by the Company, rendered services to, contacted or attempted to contact, recruited or attempted to recruit, solicited or attempted to solicit; or

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(3)  Any potential customer of the Company, whom Executive, while employed by the Company, contacted or attempted to contact, recruited or attempted to recruit, solicited or attempted to solicit, to enter into or continue a relationship with another person or entity to provide the same or similar service(s) that the Company provides.

(d)  Nature of Restrictions. Executive acknowledges that as a result of his employment as Chief Operating Officer and the Chief Executive Officer of the Company, he has held and will continue to hold a position of utmost trust in which Executive has come to know and will continue to come to know the Company's employees, customers and Confidential Information.  Executive agrees that the provisions of this entire Section 10 are necessary to protect the Company's legitimate business interests.  Executive warrants that these provisions shall not unreasonably interfere with his ability to earn a living or to pursue his occupation after his employment ends for any reason.  Executive agrees that upon beginning any new employment or business during the Restricted Period, he will promptly inform the Company of the name and address of his new employer or business and provide such new employer or business with a copy of this Agreement and copy the Company on the letter or e-mail transmitting the Agreement to the appropriate person in such new employer or business.

11.  CONFLICT OF INTEREST.  During his employment, Executive agrees to have undivided loyalty to the Company.  This means that Executive shall avoid any situation that involves or has the potential to appear to involve a conflict of interest, including, but not limited to, participating in a business transaction that personally benefits Executive or a relative based on information or relationships developed on the job, failing to disclose that someone who is doing or seeking to do business with or work for the Company is a relative or close personal associate, or receiving direct or indirect compensation from a client or vendor.

12.  RETURN OF PROPERTY.  On the date Executive's employment ends for any reason, or at any time during his employment at the request or direction of the Company, Executive will immediately deliver to the Company any or all equipment, property, material, Confidential Information, Intellectual Property or copies thereof that are owned by the Company and are in Executive's possession or control.  This includes documents or other information prepared by Executive, or provided to him in connection with his duties for the Company and while employed by the Company, regardless of the form in which such document or information are maintained or stored, including by computer, typed, handwritten, electronic, audio, video, micro-fiche, imaged, drawn or any other means of recording or storing documents or other information.  Executive hereby warrants that he will not retain in any form such documents, Confidential Information, Intellectual Property or other information or copies thereof after Executive's employment ends for any reason, provided that the Executive may retain a copy of this Agreement and any other document or information describing any rights he may have after the Termination Date.

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13.  COOPERATION WITH LEGAL PROCEEDINGS.  Executive agrees to reasonably cooperate with the Company in the defense or prosecution of any claims or actions now in existence or that may be brought in the future against or on behalf of any of the Companies that relate to events or occurrences that transpired while Executive was employed by any of the Companies.  Executive's reasonable cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with the Companies' counsel to prepare for discovery or trial and to act as a witness on behalf of any of the Companies.  Executive also agrees to reasonably cooperate with any of the Companies in connection with any investigation or review of any federal, state, or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while Executive was employed by any of the Companies.  Executive understands that in any legal action, investigation, or review covered by this Section 13 the Company expects Executive to provide only accurate and truthful information or testimony.  The Company agrees to reimburse the Executive for any costs he incurs in cooperation pursuant to this Section 13, including but not limited to travel expenses and attorneys' fees and costs.  Nothing in this Section shall limit any indemnification rights Executive may have on the effective date of this Agreement.

14.  REMEDY.

(a)  Executive acknowledges that his breach of the obligations contained in Sections 8, 9, 10, 11 and 12 of this Agreement would cause the Company irreparable harm that could not be reasonably or adequately compensated by damages in an action at law.  If Executive breaches or threatens to breach any of the provisions contained in Sections 8, 9, 10, 11 and 12 of this Agreement, the Company shall be entitled to an injunction, without bond, restraining him from committing such breach.  The Company's right to exercise its option to obtain an injunction shall not limit its right to any other remedies, including damages.

(b)  Any action relating to or arising from this Agreement shall be brought exclusively in a court of competent jurisdiction in the Commonwealth of Virginia, and Executive hereby consents to venue and personal jurisdiction in any such court in the Commonwealth of Virginia.

(c)  Executive expressly waives any right to a trial by jury for any action relating to or arising from this Agreement.

15.  SUCCESSORS; BINDING AGREEMENT.

(a)  This Agreement shall be binding upon, and inure to the benefit of the parties hereto and their heirs, successors and assigns.

(b)  The Company shall require any successor to all or substantially all of the business or assets of the Company expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

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16.  NOTICES.  For the purpose of this Agreement, notices and all other communications provided herein shall be in writing and shall be deemed to have been duly given when delivered in person or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

	
IF TO THE EXECUTIVE:

	
IF TO THE COMPANY:

	 	 
	
Mark P. Marron

	
Attn:  General Counsel

	
c/o ePlus inc.

	
ePlus inc.

	
13595 Dulles Technology Drive

	
13595 Dulles Technology Drive

	
Herndon, VA 20171

	
Herndon, VA  20171

17.  GOVERNING LAW.  All issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.

18.  SEVERABILITY.  The provisions of this Agreement are severable, and if any part of it is found to be unlawful or unenforceable, the other provisions of this Agreement shall remain fully valid and enforceable to the maximum extent consistent with applicable law.

19.  MISCELLANEOUS.  No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by the Executive and a member of the Board's Compensation Committee, or its designate.  No waiver by either party hereto at any time of any breach by the other party hereto of, or noncompliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of other provisions or conditions at the same or at any prior or subsequent time.  No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party that are not set forth expressly in this Agreement.

20.  CODE SECTION 409A.  It is the intent of this Agreement to either meet an exception from or to comply with the requirements of Section 409A ("Section 409A") of the Internal Revenue Code of 1986, as amended, and any rulings and regulations promulgated thereunder (collectively, the "Code"), and any ambiguities herein will be so interpreted and this Agreement will be so administered.  References to a termination of employment in Section 6 and/or 7 of this Agreement shall mean the date of a "separation from service" within the meaning of Code Section 409A(a)(2)(A)(i).  If the Executive is a "specified employee" within the meaning of Code Section 409A(a)(2)(B)(i) at the time of the Executive's termination of employment, any nonqualified deferred compensation subject to Section 409A that would otherwise have been payable under this Agreement as a result of, and within the first six (6) months following, the Executive's "separation from service" and not by reason of another event under Section 409A(a)(2)(A), will become payable six (6) months and one (1) day following the date of the Executive's separation from service or, if earlier, the date of Executive's death.  Any such "nonqualified deferred compensation" shall not be subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, garnishment by creditors, or borrowing, to the extent necessary to avoid tax, penalties and/or interest under Section 409A.  The Company agrees that it will pay, indemnify and hold the Executive harmless for any additional tax or interest penalty payable amount by the Executive on account of a violation of Section 409A.  Any payment by the Company of such amount shall include a "gross-up" payment, which shall be the amount required to cause the net amount retained by the Executive after payment of all taxes, including taxes on the "gross-up" payment, to equal the amount of additional tax and interest penalty payable by the Executive on account of the violation of Section 409A.  Such payment shall be made by the Company within thirty (30) days of the date that Executive submits proof of payment of such taxes to the taxing authority and not later than the end of Executive's taxable year next following the taxable year in which the Executive submits the respective taxes to the taxing authority.  The Executive agrees that the Company may amend this Agreement, with the consent of the Executive, as the Company determines is necessary or advisable so that payments made pursuant to this Agreement will not result in additional taxation of the Executive pursuant to the provisions of Section 409A.  The Executive agrees that he will not withhold his consent under this Section 20 if the proposed amendment does not materially adversely affect the Executive's rights under this Agreement.

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21.  CODE SECTION 280G.  In the event the Company (or its successor) and Executive agree, based on the advice of an independent nationally recognized public accounting firm engaged by the Company, that part or all of the consideration, compensation or benefits to be paid to or for the benefit of Executive under this Agreement constitute "parachute payments" under Section 280G(b)(2) of the Code ("Section 280G"), then either (a) or (b) below shall apply.

(a)  Except as provided in Section 21(b) below, if the aggregate present value of such parachute payments, singularly or together with the aggregate present value of any consideration, compensation or benefits to be paid to or for the benefit of Executive under any other plan, arrangement or agreement which constitute "parachute payments", calculated as provided under Section 280G, (collectively, the "Parachute Amount") exceeds 2.99 times Executive's "base amount", as defined in Section 280G(b)(3) (the "Base Amount"), the amounts constituting parachute payments that would otherwise be payable to Executive or for Executive's benefit shall be reduced to the extent necessary so that the Parachute Amount is equal to 2.99 times the Base Amount (the "Reduced Amount").

(b)  The Parachute Amount shall not be reduced as provided in Section 21(a) if, based on the advice of such public accounting firm, without such reduction Executive would be entitled to receive and retain, on a net after-tax basis (including, without limitation, after imposition of any excise taxes payable under Section 4999 of the Code), an amount which is greater than the amount, on a net after-tax basis, that Executive would be entitled to retain upon receipt of the Reduced Amount.

If the determination made above results in a reduction under Section 21(a) of the payments that would otherwise be paid to or for the benefit of Executive, such reduction in payments shall be first applied to reduce any cash severance payments that Executive would otherwise be entitled to receive hereunder and shall thereafter be applied to reduce other payments and benefits in a manner that would not result in subjecting Executive to additional taxation under Section 409A.

22.  STATUS OF PRIOR EMPLOYMENT AGREEMENTS.  Executive acknowledges that this Agreement supplants and replaces in full all prior employment agreements between Executive and the Company.  Executive waives any and all rights to enforce any and all provisions in any prior employment agreement between Executive and the Company.

	
ePlus inc.

	 	
Executive

	 	 	 
	 	 	 
	 /s/ Erica S. Stoecker	 	 /s/ Mark P. Marron
	
Erica S. Stoecker

	 	
Mark P. Marron

	
General Counsel

	 	
Chief Executive Officer

	 	 	 
	
Date:

	 September 6, 2017	 	
Date:

	 September 6, 2017

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EXHIBIT 1

GENERAL RELEASE

This General Release of Claims ("Release") is entered into by ePlus inc. (hereafter referred to as "ePlus" or the "Company") and _______________________ (hereafter referred to as "Employee").

WHEREAS, Employee's employment with ePlus terminated effective (insert date).

NOW THEREFORE, in consideration of the premises and mutual promises contained in the Employment Agreement between Employee and ePlus, the parties agree as follows:

Employee agrees to and does hereby release ePlus, its past and present officers, directors, agents, shareholders, trustees, partners, employees, in their individual and/or corporate capacities, as well as its employee benefit plans, affiliates, subsidiaries, predecessors, successors and successors in interest (the "Releasees") from all claims, charges, causes of action or other liabilities (hereafter collectively referred to as "claims"), whether in contract or tort, known or unknown, arising out of or relating in any way to Employee's employment and/or termination of employment with ePlus, including, but not limited to, claims under any federal, state or local law, including but not limited to Title VII of the Civil Rights Act of 1964 ("Title VII"); 42 U.S.C. § 1981; the American With Disabilities Act ("ADA"); the Age Discrimination in Employment Act ("ADEA"); the Employee Retirement Income Security Act of 1974 ("ERISA"); the Equal Pay Act; the Genetic Information Nondiscrimination Act; the Family and Medical Leave Act ("FMLA"), all as amended; and any common law, statutory, contract, tort, or public policy claims now or hereafter recognized, including but not limited to claims for wrongful discharge; breach of contract, express or implied; constructive discharge; discrimination; harassment; retaliation; defamation; and whistleblower claims (to the fullest extent they may be released under applicable law), as well as all claims for severance pay or benefits or attorneys' fees and costs.  Any initiation of claims prohibited by this Release shall be a breach of this Release and shall entitle ePlus to recover the consideration as set in Section 7(b) of the Employment Agreement, along with reasonable attorneys' fees incurred by ePlus to litigate any such action, to the extent permitted by law.  Employee acknowledges that as of the date he signs this Release, the Company has paid all wages, salaries, commissions, bonuses, benefits, and other amounts earned and accrued, less any applicable deductions, and has no obligation to pay any additional amounts except as set forth in Employee's Employment Agreement, if applicable. THIS IS A GENERAL RELEASE OF CLAIMS.

Under the Older Workers Benefits Protections Act ("OWBPA"), Employee may, if desired, have a period of twenty-one calendar days to consider this Release.  Employee has also been advised in writing to consult with an attorney (without expense to ePlus) concerning the release of claims under the ADEA prior to executing this Release.  In addition, Employee may revoke this Release within a period of seven calendar days following execution of this Release (the "Revocation Period").  If Employee signs and does not revoke this Release during the Revocation Period, this Release will become fully effective upon the expiration of the Revocation Period.

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Excluded from this Release are any claims which cannot be waived by law.  The Employee is waiving, however, his right to any monetary recovery should any governmental agency or entity, including but not limited to the U.S. Equal Employment Opportunity Commission ("EEOC") or the U.S. Department of Labor ("DOL"), pursue any claims on his behalf, whether initiated by Employee or any person, organization, or entity filing on his behalf.  Further, no provision of this Release should be construed or interpreted to preclude or in any way limit or restrict the Employee's right to initiate an action against the Company under the OWBPA or ADEA challenging, under the ADEA, the waiver and release of claims contained in this Release on the grounds that they were not knowing and voluntary.  To the extent that any provision of this Release is determined to be in violation of the OWBPA or ADEA, it should be severed or modified to comply with the OWBPA or ADEA, without affecting the validity or enforceability of any of the other terms or provisions of this Release.  To the extent that Employee is a Medicare beneficiary, Employee agrees to contact a Company human resources representative for further instruction.

The provisions of this Release shall inure to the benefit of the parties, their successors and assigns and shall be binding upon the parties and their heirs, executors, administrators, successors and assigns.

This Release shall be interpreted, applied and enforced in accordance with and shall be governed by the laws of the state of Delaware, without regard to its conflict of laws provisions.

Employee hereby certifies he has complied with Sections 8, 9, 10, 11 and 12 of his Employment Agreement (confidentiality, intellectual property, non-compete, non-solicit, conflict of interest and return of property provisions).

IN WITNESS WHEREOF, the parties have executed this Release on the date set forth next to each party's signature.

	
EMPLOYEE

	 	
ePlus

	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
Signature

	 	
Signature

	 
	 	 	 	 
	 	 	 	 
	
Date

	 	
Name/Title

	 
	 	 	 	 
	 	 	 	 
	 	 	
Date

	 

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