Document:

Form of Amended and Restated Rights

 Exhibit 10.4 
  
 Amended and Restated Rights Agreement 
  
 between 
  
 ONEOK, Inc. 
  
 and 
  
 UMB Bank, N.A., as 
  
 Rights Agent 
  
 Dated as of
                 , 2003 

 

  
 TABLE OF CONTENTS 
  
 
	 Section 1.
 	  	 Certain Definitions
 	  	 1
 
	 Section 2.
 	  	 Appointment of Rights Agent
 	  	 4
 
	 Section 3.
 	  	 Issue of Right Certificates
 	  	 4
 
	 Section 4.
 	  	 Form of Right Certificate
 	  	 6
 
	 Section 5.
 	  	 Countersignature and Registration
 	  	 7
 
	 Section 6.
 	  	 Transfer, Split-Up, Combination and Exchange of Right Certificates; Mutilated, Destroyed, Lost or Stolen Right
      Certificate
 	  	 7
 
	 Section 7.
 	  	 Exercise of Rights; Purchase Price; Expiration Date of Rights
 	  	 8
 
	 Section 8.
 	  	 Cancellation and Destruction of Right Certificates
 	  	 10
 
	 Section 9.
 	  	 Reservation and Availability of Capital Stock
 	  	 10
 
	 Section 10.
 	  	 Preferred Shares Record Date
 	  	 11
 
	 Section 11.
 	  	 Adjustment of Purchase Price, Number and Kind of Shares or Number of Rights
 	  	 12
 
	 Section 12.
 	  	 Certificate of Adjusted Purchase Price or Number of Shares
 	  	 18
 
	 Section 13.
 	  	 Consolidation, Merger or Sale or Transfer of Assets or Earning Power
 	  	 19
 
	 Section 14.
 	  	 Fractional Rights and Fractional Shares
 	  	 21
 
	 Section 15.
 	  	 Rights of Action
 	  	 22
 
	 Section 16.
 	  	 Agreement of Right Holders
 	  	 22
 
	 Section 17.
 	  	 Right Certificate Holder Not Deemed a Stockholder
 	  	 23
 
	 Section 18.
 	  	 Concerning the Rights Agent
 	  	 23
 
	 Section 19.
 	  	 Merger or Consolidation or Change of Name of Rights Agent
 	  	 24
 
	 Section 20.
 	  	 Duties of Rights Agent
 	  	 24
 
	 Section 21.
 	  	 Change of Rights Agent
 	  	 27
 
	 Section 22.
 	  	 Issuance of New Right Certificates
 	  	 27
 
	 Section 23.
 	  	 Redemption and Termination
 	  	 28
 
	 Section 24.
 	  	 Exchange
 	  	 29
 
	 Section 25.
 	  	 Notice of Certain Events
 	  	 30
 
	 Section 26.
 	  	 Notices
 	  	 30
 
	 Section 27.
 	  	 Supplements and Amendments
 	  	 31
 
	 Section 28.
 	  	 Determination and Actions by the Board of Directors, etc
 	  	 32
 
	 Section 29.
 	  	 Successors
 	  	 32
 
	 Section 30.
 	  	 Benefits of this Agreement
 	  	 32
 
	 Section 31.
 	  	 Severability
 	  	 32
 
	 Section 32.
 	  	 Governing Law
 	  	 32
 
	 Section 33.
 	  	 Counterparts
 	  	 33
 
	 Section 34.
 	  	 Descriptive Headings
 	  	 34
 
	  	  	  
	 EXHIBIT A
 	  	 Form of Right Certificate
 
	 EXHIBIT B
 	  	 Summary of Rights to Purchase Preferred Shares
 

 

 
 -i- 

  
 DEFINED TERM CROSS REFERENCE SHEET 
  
 
	 Acquiring Person
 	  	 Section 1(a)
 
	 Act
 	  	 Section 1(b)
 
	 Adjusted Number of Shares
 	  	 Section 11(a)(iii)
 
	 Adjusted Purchase Price
 	  	 Section 11(a)(iii)
 
	 Adjustment Shares
 	  	 Section 11(a)(ii)
 
	 Affiliate
 	  	 Section 1(c)
 
	 Agreement
 	  	 Preface
 
	 Associate
 	  	 Section 1(c)
 
	 Beneficial Owner
 	  	 Section 1(d)
 
	 beneficially own
 	  	 Section 1(d)
 
	 Business Day
 	  	 Section 1(e)
 
	 capital stock equivalent
 	  	 Section 11(a)(iii)
 
	 Close of Business
 	  	 Section 1(f)
 
	 Common Shares
 	  	 Section 1(g)
 
	 Corporation
 	  	 Preface
 
	 current per share market price
 	  	 Section 11(d)(i)
 
	 Disinterested Directors
 	  	 Section 1(h)
 
	 Distribution Date
 	  	 Section 1(i)
 
	 equivalent preferred shares
 	  	 Section 11(b)
 
	 Exchange Act
 	  	 Section 1(c)
 
	 Exchange Ratio
 	  	 Section 24(a)
 
	 Final Expiration Date
 	  	 Section 1(j)
 
	 Interested Stockholder
 	  	 Section 1(k)
 
	 NASDAQ
 	  	 Section 11(d)(i)
 
	 Permitted Offer
 	  	 Section 1(l)
 
	 Person
 	  	 Section 1(m)
 
	 Preferred Shares
 	  	 Section 1(n)
 
	 Principal Party
 	  	 Section 13(b)
 
	 Proration Factor
 	  	 Section 11(a)(iii)
 
	 Purchase Price
 	  	 Section 4(a)
 
	 Record Date
 	  	 Preface
 
	 Redemption Date
 	  	 Section 1(o)
 
	 Redemption Price
 	  	 Section 23(a)(i)
 
	 Right
 	  	 Preface
 
	 Right Certificate
 	  	 Section 3(a)
 
	 Rights Agent
 	  	 Preface
 
	 Section 11(a)(ii) Event
 	  	 Section 1(p)
 
	 Section 13 Event
 	  	 Section 1(q)
 
	 Security
 	  	 Section 11(d)(i)
 
	 Shares Acquisition Date
 	  	 Section 1(r)
 
	 Subsidiary
 	  	 Section 1(s)
 

 

 
 -ii- 

 
	 Summary of Rights
 	  	 Section 3(b)
 
	 then outstanding
 	  	 Section 1(d)
 
	 Trading Day
 	  	 Section 11(d)(i)
 
	 Transaction
 	  	 Section 1(t)
 
	 Transaction Person
 	  	 Section 1(u)
 
	 Triggering Event
 	  	 Section 1(v)
 
	 voting securities
 	  	 Section 13(a)
 
	 Westar
 	  	 Section 1(a)
 

 

 
 -iii- 

  
 AMENDED AND RESTATED RIGHTS AGREEMENT 
  
 AMENDED AND RESTATED RIGHTS AGREEMENT, dated as of             , 2003
(the “Agreement”), between ONEOK, Inc., an Oklahoma corporation (the “Corporation”), and UMB BANK, N.A., as rights agent (the “Rights Agent”). 
  

The Board of Directors of the Corporation has authorized and declared a dividend of one preferred share purchase right (a “Right”) for each Common
Share (as hereinafter defined) of the Corporation outstanding at 5:00 P.M., Eastern Standard Time, on November 26, 1997 (the “Record Date”), each Right representing the right to purchase one one-hundredth (subject to adjustment as
provided herein) of a Preferred Share (as hereinafter defined), upon the terms and subject to the conditions herein set forth, and has further authorized and directed the issuance of one Right with respect to each Common Share that shall become
outstanding between the Record Date and the earliest of the Distribution Date, the Redemption Date or the Final Expiration Date (as such terms are hereinafter defined); provided, however, that Rights may be issued with respect to
Common Shares that shall become outstanding after the Distribution Date and prior to the earlier of the Redemption Date and the Final Expiration Date in accordance with the provisions of Section 22 of this Agreement. 
  
 The Corporation and the Rights Agent have agreed to enter into this Agreement in order to amend and restate the various rights of the
parties set forth in the Rights Agreement, dated as of November 26, 1997. 
  
 Accordingly, in consideration of the
premises and the mutual agreements herein set forth, the parties hereby agree as follows: 
  
 Section
1.    Certain Definitions. For purposes of this Agreement, the following terms have the meanings indicated: 
  
 (a)    “Acquiring Person” shall mean any Person who or which, together with all Affiliates and Associates of such Person, shall be the Beneficial Owner of 15% or more of the then
outstanding Common Shares (other than as a result of a Permitted Offer) or was such a Beneficial Owner at any time after the date hereof, whether or not such person continues to be the Beneficial Owner of 15% or more of the then outstanding Common
Shares. Notwithstanding the foregoing, (A) the term “Acquiring Person“ shall not include (i) the Corporation, (ii) any Subsidiary of the Corporation, (iii) any employee benefit plan of the Corporation or of any Subsidiary of the
Corporation, (iv) any Person or entity organized, appointed or established by the Corporation for or pursuant to the terms of any such plan acting in such capacity and (v) Westar Energy or Westar Industries, Inc. (“Westar”), but
only with respect to the Common Shares Beneficially Owned by either of them as of the date hereof, less any Common Shares Beneficially Owned by either of them that are transferred or sold after the date hereof, and (B) no Person shall become an
“Acquiring Person“ (i) as a result of the acquisition of Common Shares by the Corporation which, by reducing the number of Common Shares outstanding, increases the proportional number of shares beneficially owned by such Person together
with all Affiliates and Associates of such Person, provided, that if (1) a Person would become an Acquiring Person (but for the operation of this subclause (i)) as a result of the acquisition of Common Shares by the Corporation, and (2) after such
share acquisition by the Corporation, such Person, or an Affiliate 

 
 -1- 

 or Associate of such Person, becomes the Beneficial Owner of any additional Common Shares, then such Person shall be deemed an Acquiring Person;
or (ii) if (1) within five Business Days after such Person would otherwise have become or, if such Person did so inadvertently, after such Person discovers that such Person would otherwise have become, an Acquiring Person (but for the operation of
this subclause (ii)), such Person notifies the Board of Directors that such Person did so inadvertently, and (2) within two Business Days after such notification, such Person divests itself of a sufficient number of Common Shares so that such Person
is the Beneficial Owner of such number of Common Shares that such Person no longer would be an Acquiring Person. 
  
 (b)    “Act” shall mean the Securities Act of 1933, as amended and as in effect on the date of this Agreement. 
  
 (c)    “Affiliate” and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 of the
General Rules and Regulations under the Securities Exchange Act of 1934, as amended and as in effect on the date of this Agreement (the “Exchange Act”). 
  
 (d)    A Person shall be deemed the “Beneficial Owner” of and shall be deemed to “beneficially own” any securities:

  
 (i)       which such Person or any of such Person’s
Affiliates or Associates beneficially owns, directly or indirectly; 
  
 (ii)       which such Person or any of such Person’s Affiliates or Associates has (A) the right to acquire (whether such right is exercisable immediately or only after the passage of time)
pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, rights (other than the Rights), warrants or options, or otherwise; provided, however, that a Person shall not be deemed the
Beneficial Owner of, or to beneficially own, securities tendered pursuant to a tender or exchange offer made by or on behalf of such Person or any of such Person’s Affiliates or Associates until such tendered securities are accepted for
purchase or exchange; or (B) the right to vote pursuant to any agreement, arrangement or understanding; provided, however, that a Person shall not be deemed the Beneficial Owner of, or to beneficially own, any security if the agreement, arrangement
or understanding to vote such security (1) arises solely from a revocable proxy or consent given to such Person in response to a public proxy or consent solicitation made pursuant to, and in accordance with, the applicable rules and regulations
promulgated under the Exchange Act and (2) is not also then reportable on Schedule 13D under the Exchange Act (or any comparable or successor report); or 
  
 (iii)     which are beneficially owned, directly or indirectly, by any other Person (or any Affiliate or Associate thereof) with which
such Person (or any of such Person’s Affiliates or Associates) has any agreement, arrangement or understanding (other than customary agreements with and between underwriters and selling group members with respect to a bona fide public offering
of securities) relating to the acquisition, holding, voting (except to the extent contemplated by the proviso to Section l(d)(ii)(B)) or disposing of any securities of the Corporation. 

 
 -2- 

 Notwithstanding anything in this definition of Beneficial Ownership to the contrary, the phrase “then
outstanding,” when used with reference to a Person’s Beneficial Ownership of securities of the Corporation, shall mean the number of such securities then issued and outstanding together with the number of such securities not then
actually issued and outstanding which such Person would be deemed to own beneficially hereunder. 
  
 (e)    “Business Day” shall mean any day other than a Saturday, Sunday or federal holiday or a day on which banking institutions in the State of Missouri are authorized or obligated by law or
executive order to close. 
  
 (f)    “Close of Business” on any given date shall
mean 5:00 P.M., New York City time, on such date; provided, however, that if such date is not a Business Day it shall mean 5:00 P.M., New York City time, on the next succeeding Business Day. 
  
 (g)    “Common Shares” when used with reference to the Corporation shall mean the shares of Common Stock, par value $0.01 per share, of
the Corporation or, in the event of a subdivision, combination or consolidation with respect to such shares of Common Stock, the shares of Common Stock resulting from such subdivision, combination or consolidation. “Common Shares” when
used with reference to any Person other than the Corporation shall mean the capital stock (or equity interest) with the greatest combined economic and voting power of such other Person or, if such other Person is a Subsidiary of another Person, the
Person or Persons which ultimately control such first- mentioned Person. 
  
 (h)    “Disinterested Directors” shall mean the members of the Board of Directors who are not (i) officers of the Corporation, (ii) Acquiring Persons or their Affiliates or Associates or
representatives of any of them, or (iii) any Person who was directly or indirectly proposed or nominated as a director of the Corporation by a Transaction Person. 
  
 (i)    “Distribution Date” shall have the meaning set forth in Section 3 hereof. 
  

(j)    “Final Expiration Date” shall have the meaning set forth in Section 7 hereof. 
  
 (k)    “Interested Stockholder” shall mean any Acquiring Person or any Affiliate or Associate of an
Acquiring Person or any other Person in which any such Acquiring Person, Affiliate or Associate has an interest which represents in excess of 5% of the total combined economic or voting power of such person, or any other Person acting directly or
indirectly on behalf of or in concert with any such Acquiring Person, Affiliate or Associate. 
  
 (l)    “Permitted Offer” shall mean a tender or exchange offer for all outstanding Common Shares which is at a price and on terms determined, prior to the purchase of shares under such tender or
exchange offer, by at least a majority of the Disinterested Directors, to be adequate and otherwise in the best interests of the Corporation, its stockholders and its other relevant constituencies (other than the Person or any Affiliate or Associate
thereof on whose behalf the offer is being made) taking into account all factors that such Disinterested Directors may deem relevant. 

 
 -3- 

 (m)   “Person” shall mean any individual, firm, partnership, corporation, limited
liability company, trust, association, joint venture or other entity, and shall include any successor (by merger or otherwise) of such entity. 
  
 (n)    “Preferred Shares” shall mean the shares of Series C Participating Preferred Stock, par value $0.01 per share, of the Corporation. 
  
 (o)    “Redemption Date” shall have the meaning set forth in Section 7 hereof. 

 
 (p)    “Section 11(a)(ii) Event” shall mean any event described in Section 11(a)(ii)
hereof. 
  
 (q)    “Section 13 Event” shall mean any event described in clause
(x), (y) or (z) of Section 13(a) hereof. 
  
 (r)    “Shares Acquisition Date”
shall mean the first date of public announcement (which, for purposes of this definition, shall include, without limitation, a report filed pursuant to the Exchange Act) by the Corporation or an Acquiring Person that an Acquiring Person has become
such. 
  
 (s)    “Subsidiary” of any Person shall mean any corporation or other
Person of which a majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by such Person. 
  
 (t)    “Transaction” shall mean any merger, consolidation or sale of assets described in Section 13(a) hereof or any acquisition of Common Shares of the Corporation
which would result in a Person becoming a Transaction Person. 
  
 (u)    “Transaction
Person” with respect to a Transaction shall mean (x) any Person who (i) is or will become an Acquiring Person if the Transaction were to be consummated and (ii) directly or indirectly proposed or nominated a director of the Corporation
which director is in office at the time of consideration of the Transaction, or (y) an Affiliate or Associate of such a Person. 
  
 (v)    “Triggering Event” shall mean any Section 11(a)(ii) Event or any Section 13 Event. 
  
 Section 2.    Appointment of Rights Agent. The Corporation hereby appoints the Rights Agent to act as agent for the Corporation and the holders of the Rights (who, in
accordance with Section 3 hereof, shall prior to the Distribution Date also be the holders of Common Shares) in accordance with the terms and conditions hereof, and the Rights Agent hereby accepts such appointment. The Corporation may from time to
time appoint such co-Rights Agents as it may deem necessary or desirable. 
  
 Section
3.    Issue of Right Certificates. (a) Until the earlier to occur of (i) the Shares Acquisition Date or (ii) the Close of Business on the tenth Business Day (or such later date as may be determined by action of the
Corporation’s Board of Directors) after the date of the commencement by any Person (other than the Corporation, any Subsidiary of the 

 
 -4- 

 Corporation, any employee benefit plan of the Corporation or of any Subsidiary of the Corporation or any Person or entity organized, appointed
or established by the Corporation for or pursuant to the terms of any such plan) of, or of the first public announcement of the intention of any Person (other than the Corporation, any Subsidiary of the Corporation, any employee benefit plan of the
Corporation or of any Subsidiary of the Corporation or any Person or entity organized, appointed or established by the Corporation for or pursuant to the terms of any such plan) to commence (which intention to commence remains in effect for five
Business Days after such announcement), a tender or exchange offer the consummation of which would result in any Person becoming an Acquiring Person (including, in the case of both (i) and (ii), any such date which is after the date of this
Agreement and prior to the issuance of the Rights), the earlier of such dates being herein referred to as the “Distribution Date,” (x) the Rights will be evidenced (subject to the provisions of Section 3(b) hereof) by the certificates for
Common Shares registered in the names of the holders thereof (which certificates shall also be deemed to be Right Certificates) and not by separate Right Certificates, and (y) the right to receive Right Certificates will be transferable only in
connection with the transfer of the underlying Common Shares (including a transfer to the Corporation); provided, however, that if the tender offer is terminated prior to the occurrence of a Distribution Date, then no Distribution Date shall occur
as a result of such tender offer. As soon as practicable after the Distribution Date, the Corporation will prepare and execute, the Rights Agent will countersign, and the Corporation will send or cause to be sent by first-class, postage-prepaid
mail, to each record holder of Common Shares as of the close of business on the Distribution Date, at the address of such holder shown on the records of the Corporation, a Right Certificate, substantially in the form of Exhibit A hereto (a
“Right Certificate”), evidencing one Right for each Common Share so held. As of and after the Distribution Date, the Rights will be evidenced solely by such Right Certificates. 
  

(b)    As promptly as practicable following the Record Date, the Corporation will send a copy of a Summary of Rights to Purchase Preferred Shares,
in substantially the form of Exhibit B hereto (the “Summary of Rights”), by first-class, postage-prepaid mail, to each record holder of Common Shares as of the close of business on the Record Date, at the address of such holder
shown on the records of the Corporation. With respect to certificates for Common Shares outstanding as of the Record Date, until the Distribution Date, the Rights will be evidenced by such certificates registered in the names of the holders thereof
together with a copy of the Summary of Rights attached thereto. Until the Distribution Date (or the earlier of the Redemption Date or the Final Expiration Date), the surrender for transfer of any certificate for Common Shares outstanding on the
Record Date, with or without a copy of the Summary of Rights attached thereto, shall also constitute the transfer of the Rights associated with such Common Shares. 
  
 (c)    Certificates for Common Shares which become outstanding (including, without limitation, reacquired Common Shares referred to in the last sentence
of this paragraph (c)) after the Record Date but prior to the earliest of the Distribution Date, the Redemption Date or the Final Expiration Date shall be deemed also to be certificates for Rights and shall bear the following legend: 

 
 THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS SET FORTH IN AN AMENDED AND RESTATED RIGHTS
AGREEMENT BETWEEN ONEOK, INC. AND THE 

 
 -5- 

 RIGHTS AGENT, DATED AS OF
                , 2003 (THE “AMENDED AND RESTATED RIGHTS AGREEMENT”), THE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH
IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF ONEOK, INC. UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE AMENDED AND RESTATED RIGHTS AGREEMENT, SUCH RIGHTS WILL BE EVIDENCED BY SEPARATE CERTIFICATES AND WILL NO LONGER BE EVIDENCED BY THIS
CERTIFICATE. ONEOK, INC. WILL MAIL TO THE HOLDER OF THIS CERTIFICATE A COPY OF THE RIGHTS AGREEMENT WITHOUT CHARGE AFTER RECEIPT OF A WRITTEN REQUEST THEREFOR FROM SUCH HOLDER. UNDER CERTAIN CIRCUMSTANCES SET FORTH IN THE AMENDED AND RESTATED RIGHTS
AGREEMENT, RIGHTS ISSUED TO, OR HELD BY, ANY PERSON WHO IS, WAS OR BECOMES AN ACQUIRING PERSON OR AN AFFILIATE OR ASSOCIATE THEREOF (AS DEFINED IN THE AMENDED AND RESTATED RIGHTS AGREEMENT) AND CERTAIN RELATED PERSONS, WHETHER CURRENTLY HELD BY OR
ON BEHALF OF SUCH PERSON OR BY ANY SUBSEQUENT HOLDER, MAY BECOME NULL AND VOID. 
  
 With respect to such certificates
containing the foregoing legend, until the Distribution Date, the Rights associated with the Common Shares represented by such certificates shall be evidenced by such certificates alone, and the surrender for transfer of any such certificate shall
also constitute the transfer of the Rights associated with the Common Shares represented thereby. In the event that the Corporation purchases or acquires any Common Shares after the Record Date but prior to the Distribution Date, any Rights
associated with such Common Shares shall be deemed cancelled and retired so that the Corporation shall not be entitled to exercise any Rights associated with the Common Shares which are no longer outstanding. 
  
 Section 4.    Form of Right Certificate. (a) The Right Certificates (and the forms of election to purchase and
of assignment to be printed on the reverse thereof) shall be substantially in the form set forth in Exhibit B hereto and may have such marks of identification or designation and such legends, summaries or endorsements printed thereon as the
Corporation may deem appropriate and as are not inconsistent with the provisions of this Agreement, or as may be required to comply with any applicable law or with any rule or regulation made pursuant thereto or with any rule or regulation of any
stock exchange on which the Rights may from time to time be listed, or to conform to usage. Subject to the provisions of Section 11 and Section 22 hereof, the Right Certificates shall entitle the holders thereof to purchase such number of one
one-hundredths of a Preferred Share as shall be set forth therein at the price per one one-hundredth of a Preferred Share set forth therein (the “Purchase Price”), but the amount and type of securities purchasable upon the exercise
of each Right and the Purchase Price thereof shall be subject to adjustment as provided herein. 
  
 (b)    Any Right Certificate issued pursuant to Section 3(a) or Section 22 hereof that represents Rights which are null and void pursuant to Section 7(e) of this Agreement and any Right Certificate issued pursuant
to Section 6 or Section 11 hereof upon transfer, exchange, 

 
 -6- 

  
 replacement or adjustment of any other Right Certificate referred to in this sentence, shall contain (to
the extent feasible) the following legend: 
  
 THE RIGHTS REPRESENTED BY THIS RIGHT CERTIFICATE ARE OR WERE
BENEFICIALLY OWNED BY A PERSON WHO WAS OR BECAME AN ACQUIRING PERSON OR AN AFFILIATE OR ASSOCIATE OF AN ACQUIRING PERSON (AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT). ACCORDINGLY, THIS RIGHT CERTIFICATE AND THE RIGHTS REPRESENTED HEREBY ARE
NULL AND VOID. 
  
 Provisions of Section 7(e) of this Rights Agreement shall be operative whether or not the foregoing legend is contained
on any such Right Certificate. 
  
 Section 5.    Countersignature and
Registration.  The Right Certificates shall be executed on behalf of the Corporation by its Chairman of the Board, its Chief Executive Officer, its President, any of its Vice Presidents, or its Treasurer, either manually or by
facsimile signature, shall have affixed thereto the Corporation’s seal or a facsimile thereof, and shall be attested by the Secretary or an Assistant Secretary of the Corporation, either manually or by facsimile signature. The Right
Certificates shall be countersigned by the Rights Agent and shall not be valid for any purpose unless so countersigned. In case any officer of the Corporation who shall have signed any of the Right Certificates shall cease to be such officer of the
Corporation before countersignature by the Rights Agent and issuance and delivery by the Corporation, such Right Certificates may nevertheless be countersigned by the Rights Agent and issued and delivered by the Corporation with the same force and
effect as though the person who signed such Right Certificates had not ceased to be such officer of the Corporation; and any Right Certificate may be signed on behalf of the Corporation by any person who, at the actual date of the execution of such
Right Certificate, shall be a proper officer of the Corporation to sign such Right Certificate, although at the date of the execution of this Rights Agreement any such person was not such an officer. 
  
 Following the Distribution Date, the Rights Agent will keep or cause to be kept, at its office designated as the appropriate place for
surrender of such Right Certificate for transfer, books for registration and transfer of the Right Certificates issued hereunder. Such books shall show the names and addresses of the respective holders of the Right Certificates, the number of Rights
evidenced on its face by each of the Right Certificates and the certificate number and the date of each of the Right Certificates. 
  
 Section 6.    Transfer, Split-Up, Combination and Exchange of Right Certificates; Mutilated, Destroyed, Lost or Stolen Right Certificate.  Subject to the provisions of Section 4(b),
Section 7(e) and Section 14 hereof, at any time after the close of business on the Distribution Date, and at or prior to the close of business on the earlier of the Redemption Date or the Final Expiration Date, any Right Certificate or Right
Certificates may be transferred, split up, combined or exchanged for another Right Certificate or Right Certificates, entitling the registered holder to purchase a like number of one one-hundredths of a Preferred Share (or, following a Triggering
Event, other securities, as the case may be) as the Right Certificate or Right Certificates surrendered then entitled such holder (or former holder in the case of a transfer) to purchase. Any registered holder desiring to transfer, split up, combine
or exchange 

 
 -7- 

  
 any Right Certificate or Right Certificates shall make such request in writing delivered to the Rights
Agent, and shall surrender the Right Certificate or Right Certificates to be transferred, split up, combined or exchanged at the principal office or offices of the Rights Agent designated for such purpose. Neither the Rights Agent nor the
Corporation shall be obligated to take any action whatsoever with respect to the transfer of any such surrendered Right Certificate until the registered holder shall have completed and signed the certificate contained in the form of assignment on
the reverse side of such Right Certificate and shall have provided such additional evidence of the identity of the Beneficial Owner (or former Beneficial Owner) or Affiliates or Associates thereof as the Corporation shall reasonably request.
Thereupon the Rights Agent shall, subject to Section 4(b), Section 7(e) and Section 14 hereof, countersign and deliver to the Person entitled thereto a Right Certificate or Right Certificates, as the case may be, as so requested. The Corporation or
the Rights Agent may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split-up, combination or exchange of Right Certificates. 
  
 Upon receipt by the Corporation and the Rights Agent of evidence reasonably satisfactory to them of the loss, theft, destruction or
mutilation of a Right Certificate, and, in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to them, and, at the Corporation’s request, reimbursement to the Corporation and the Rights Agent of all reasonable
expenses incidental thereto, and upon surrender to the Rights Agent and cancellation of the Right Certificate if mutilated, the Corporation will make and deliver a new Right Certificate of like tenor to the Rights Agent for countersignature and
delivery to the registered holder in lieu of the Right Certificate so lost, stolen, destroyed or mutilated. 
  
 Section 7.    Exercise of Rights; Purchase Price; Expiration Date of Rights.  (a) Subject to Section 7(e) hereof, the 
 registered holder of any Right Certificate may exercise the Rights evidenced thereby (except as otherwise provided herein) in whole or in part at any time after the Distribution Date upon surrender of the Right Certificate, with the
form of election to purchase and the certificate on the reverse side thereof duly executed, to the Rights Agent at the principal office or offices of the Rights Agent designated for such purpose, together with payment of the aggregate Purchase Price
for the total number of one one-hundredths of a Preferred Share (or other securities, as the case may be) as to which such surrendered Rights are exercised, at or prior to the earliest of (i) the Close of Business on
[            ], 2013 (the “Final Expiration Date”), (ii) the time at which the Rights are redeemed as provided in Section 23 hereof (the “Redemption Date”), (iii) the
time at which the Rights are exchanged as provided in Section 24 hereof, or (iv) the consummation of a transaction contemplated by Section 13(d) hereof. 
  
 (b)    The Purchase Price for each one-hundredth of a Preferred Share pursuant to the exercise of a Right shall initially be $40.00, shall be subject to adjustment from time to time
as provided in the next sentence and in Sections 11 and 13(a) hereof and shall be payable in accordance with paragraph (c) below. Anything in this Agreement to the contrary notwithstanding, in the event that at any time after the date of this
Agreement and prior to the Distribution Date, the Corporation shall (i) declare or pay any dividend on the Common Shares payable in Common Shares or (ii) effect a subdivision, combination or consolidation of the Common Shares (by reclassification or
otherwise than by payment of dividends in Common Shares) into a greater or lesser number of Common Shares, then in any such case, each Common 

 
 -8- 

  
 Share outstanding following such subdivision, combination or consolidation shall continue to have one
Right (subject to adjustment as provided herein) associated therewith and the Purchase Price following any such event shall be proportionately adjusted to equal the result obtained by multiplying the Purchase Price immediately prior to such event by
a fraction the numerator of which shall be the total number of Common Shares outstanding immediately prior to the occurrence of the event and the denominator of which shall be the total number of Common Shares outstanding immediately following the
occurrence of such event. The adjustment provided for in the preceding sentence shall be made successively whenever such a dividend is declared or paid or such a subdivision, combination or consolidation is effected. 
  
 (c)    Upon receipt of a Right Certificate representing exercisable Rights, with the form of election to purchase and
the certificate duly executed, accompanied by payment of the Purchase Price for the Preferred Shares (or other securities, as the case may be) to be purchased and an amount equal to any applicable transfer tax required to be paid by the holder of
such Right Certificate in accordance with Section 6 hereof by certified check, cashier’s check or money order payable to the order of the Corporation, the Rights Agent shall thereupon promptly (i) (A) requisition from any transfer agent of the
Preferred Shares certificates for the number of Preferred Shares to be purchased and the Corporation hereby irrevocably authorizes its transfer agent to comply with all such requests, or (B) requisition from the depositary agent (if the Corporation,
in its sole discretion, shall have elected to deposit the Preferred Shares issuable upon exercise of the Rights hereunder into a depositary) depositary receipts representing such number of one one-hundredths of a Preferred Share as are to be
purchased (in which case certificates for the Preferred Shares represented by such receipts shall be deposited by the transfer agent with the depositary agent) and the Corporation will direct the depositary agent to comply with such requests, (ii)
when appropriate, requisition from the Corporation the amount of cash to be paid in lieu of issuance of fractional shares in accordance with Section 14 hereof, (iii) after receipt of such certificates or depositary receipts, cause the same to be
delivered to or upon the order of the registered holder of such Right Certificate, registered in such name or names as may be designated by such holder, and (iv) when appropriate, after receipt thereof, deliver such cash to or upon the order of the
registered holder of such Right Certificate. In the event that the Corporation is obligated to issue other securities (including Common Shares) of the Corporation pursuant to Section 11(a) hereof, the Corporation will make all arrangements necessary
so that such other securities are available for distribution by the Rights Agent, if and when appropriate. 
  
 In
addition, in the case of an exercise of the Rights by a holder pursuant to Section 11(a)(ii), the Rights Agent shall return such Right Certificate to the registered holder thereof after imprinting, stamping or otherwise indicating thereon that the
rights represented by such Right Certificate no longer include the rights provided by Section 11(a)(ii) of the Rights Agreement and if less than all the Rights represented by such Right Certificate were so exercised, the Rights Agent shall indicate
on the Right Certificate the number of Rights represented thereby which continue to include the rights provided by Section 11(a)(ii). 
  
 (d)    In case the registered holder of any Right Certificate shall exercise less than all the Rights evidenced thereby, a new Right Certificate evidencing Rights equivalent to the Rights remaining
unexercised shall be issued by the Rights Agent to the registered holder of such Right Certificate or to his duly authorized assigns, subject to the provisions of Section 14 

 
 -9- 

  
 hereof, or the Rights Agent shall place an appropriate notation on the Right Certificate with respect to
those Rights exercised. 
  
 (e)    Notwithstanding anything in this Agreement to the contrary,
from and after the first occurrence of a Section 11(a)(ii) Event, any Rights beneficially owned by (i) an Acquiring Person or an Affiliate or Associate of an Acquiring Person, (ii) a transferee of an Acquiring Person (or of any Affiliate or
Associate thereof) who becomes a transferee after the Acquiring Person becomes such, or (iii) a transferee of an Acquiring Person (or of any Affiliate or Associate thereof) who becomes a transferee prior to or concurrently with the Acquiring Person
becoming such and receives such Rights pursuant to either (A) a transfer (whether or not for consideration) from the Acquiring Person to holders of equity interests in such Acquiring Person or to any Person with whom the Acquiring Person has a
continuing agreement, arrangement or understanding regarding the transferred Rights or (B) a transfer which the Board of Directors of the Corporation has determined is part of a plan, arrangement or understanding which has as a primary purpose or
effect the avoidance of this Section 7(e), shall become null and void without any further action and no holder of such Rights shall have any rights whatsoever with respect to such Rights, whether under any provision of this Agreement or otherwise.
The Corporation shall use all reasonable efforts to insure that the provisions of this Section 7(e) and Section 4(b) hereof are complied with, but shall have no liability to any holder of Right Certificates or other Person as a result of its failure
to make any determinations with respect to an Acquiring Person or its Affiliates, Associates or transferees hereunder. 
  
 (f)    Notwithstanding anything in this Agreement to the contrary, neither the Rights Agent nor the Corporation shall be obligated to undertake any action with respect to a registered holder upon the occurrence of
any purported exercise as set forth in this Section 7 unless such registered holder shall have (i) completed and signed the certificate contained in the form of election to purchase set forth on the reverse side of the Right Certificate surrendered
for such exercise, and (ii) provided such additional evidence of the identity of the Beneficial Owner (or former Beneficial Owner) or Affiliates or Associates thereof as the Corporation shall reasonably request. 
  
 Section 8.    Cancellation and Destruction of Right Certificates.  All Right Certificates surrendered
for the purpose of exercise (other than a partial exercise), transfer, split up, combination or exchange shall, if surrendered to the Corporation or to any of its agents, be delivered to the Rights Agent for cancellation or in canceled form, or, if
surrendered to the Rights Agent, shall be canceled by it, and no Right Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Rights Agreement. The Corporation shall deliver to the Rights Agent
for cancellation and retirement, and the Rights Agent shall so cancel and retire, any other Right Certificate purchased or acquired by the Corporation otherwise than upon the exercise thereof. The Rights Agent shall destroy such canceled Right
Certificates in accordance with applicable laws and regulations, and shall deliver a certificate of destruction thereof to the Corporation. 
  
 Section 9.    Reservation and Availability of Capital Stock.  The Corporation covenants and agrees that at all times prior to the occurrence of a Section 11(a)(ii)
Event it will cause to be reserved and kept available out of its authorized and unissued Preferred Shares, or any authorized and issued Preferred Shares held in its treasury, the number of Preferred Shares 

 
 -10- 

  
 that will be sufficient to permit the exercise in full of all outstanding Rights and, after the
occurrence of a Section 11(a)(ii) Event, shall, to the extent reasonably practicable, so reserve and keep available a sufficient number of Common Shares (and/or other securities) which may be required to permit the exercise in full of the Rights
pursuant to this Agreement. 
  
 So long as the Preferred Shares (and, after the occurrence of a Section 11(a)(ii)
Event, Common Shares, or any other securities, as the case may be) issuable upon the exercise of the Rights may be listed on any national securities exchange, the Corporation shall use its best efforts to cause, from and after such time as the
Rights become exercisable, all shares reserved for such issuance to be listed on such exchange upon official notice of issuance upon such exercise. 
  
 The Corporation covenants and agrees that it will take all such action as may be necessary to ensure that all Preferred Shares (or Common Shares and/or other securities, as the case may be) delivered
upon exercise of Rights shall, at the time of delivery of the certificates for such shares or other securities (subject to payment of the Purchase Price), be duly and validly authorized and issued and fully paid and non-assessable shares or
securities. 
  
 The Corporation further covenants and agrees that it will pay when due and payable any and all
federal and state transfer taxes and charges which may be payable in respect of the issuance or delivery of the Right Certificates or of any Preferred Shares (or Common Shares and/or other securities, as the case may be) upon the exercise of Rights.
The Corporation shall not, however, be required to pay any transfer tax which may be payable in respect of any transfer or delivery of Right Certificates to a person other than, or the issuance or delivery of certificates or depositary receipts for
the Preferred Shares (or Common Shares and/or other securities, as the case may be) in a name other than that of, the registered holder of the Right Certificate evidencing Rights surrendered for exercise, or to issue or to deliver any certificates
or depositary receipts for Preferred Shares (or Common Shares and/or other securities, as the case may be) upon the exercise of any Rights, until any such tax shall have been paid (any such tax being payable by the holder of such Right Certificate
at the time of surrender) or until it has been established to the Corporation’s reasonable satisfaction that no such tax is due. 
  
 The Corporation shall use its best efforts to (i) file, as soon as practicable following the Shares Acquisition Date (or, if required by law, at such earlier time following the Distribution Date as so required), a
registration statement under the Act, with respect to the securities purchasable upon exercise of the Rights on an appropriate form, (ii) cause such registration statement to become effective as soon as practicable after such filing, and (iii) cause
such registration statement to remain effective (with a prospectus at all times meeting the requirements of the Act and the rules and regulations thereunder) until the date of the expiration of the rights provided by Section 11(a)(ii). The
Corporation will also take such action as may be appropriate under the blue sky laws of the various states. 
  
 Section 10.    Preferred Shares Record Date.  Each Person in whose name any certificate for Preferred Shares (or Common Shares and/or other securities, as the case may be) is issued upon the
exercise of Rights shall for all purposes be deemed to have become the holder of record of the Preferred Shares (or Common Shares and/or other securities, as the case may be) represented thereby on, and such certificate shall be dated, the date upon
which the Right 

 
 -11- 

  
 Certificate evidencing such Rights was duly surrendered and payment of the Purchase Price (and any
applicable transfer taxes) was made; provided, however, that, if the date of such surrender and payment is a date upon which the Preferred Shares (or Common Shares and/or other securities, as the case may be) transfer books of the Corporation are
closed, such person shall be deemed to have become the record holder of such shares on, and such certificate shall be dated, the next succeeding Business Day on which the Preferred Shares (or Common Shares and/or other securities, as the case may
be) transfer books of the Corporation are open. 
  
 Section 11.    Adjustment of Purchase
Price, Number and Kind of Shares or Number of Rights.  The Purchase Price, the number and kind of shares or other securities covered by each Right and the number of Rights outstanding are subject to adjustment from time to time as
provided in this Section 11. 
  
 (a)    (i) In the event the Corporation shall at any time after
the date of this Agreement (A) declare a dividend on the Preferred Shares payable in Preferred Shares, (B) subdivide the outstanding Preferred Shares, (C) combine the outstanding Preferred Shares into a smaller number of Preferred Shares or (D)
issue any shares of its capital stock in a reclassification of the Preferred Shares (including any such reclassification in connection with a consolidation or merger in which the Corporation is the continuing or surviving corporation), except as
otherwise provided in this Section 11(a) and Section 7(e) hereof, the Purchase Price in effect at the time of the record date for such dividend or of the effective date of such subdivision, combination or reclassification, and the number and kind of
shares of capital stock issuable on such date, shall be proportionately adjusted so that the holder of any Right exercised after such time shall be entitled to receive the aggregate number and kind of shares of capital stock which, if such Right had
been exercised immediately prior to such date and at a time when the Preferred Shares transfer books of the Corporation were open, such holder would have owned upon such exercise and been entitled to receive by virtue of such dividend, subdivision,
combination or reclassification; provided, however, that in no event shall the consideration to be paid upon the exercise of one Right be less than the aggregate par value of the shares of capital stock of the Corporation issuable upon exercise of
one Right. If an event occurs which would require an adjustment under both Section 11(a)(i) and Section 11(a)(ii), the adjustment provided for in this Section 11(a)(i) shall be in addition to, and shall be made prior to, any adjustment required
pursuant to Section 11(a)(ii). 
  
 (ii)    In the event any Person, alone or
together with its Affiliates and Associates, shall become an Acquiring Person, then proper provision shall be made so that each holder of a Right (except as provided below and in Section 7(e) hereof) shall, for a period of 60 days after the later of
(i) the occurrence of any such event or (ii) the effective date of an appropriate registration statement under the Act pursuant to Section 9 hereof, have a right to receive, upon exercise thereof at a price equal to the then current Purchase Price,
in accordance with the terms of this Agreement, such number of Common Shares (or, in the discretion of the Board of Directors, one one- hundredths of a Preferred Share) as shall equal the result obtained by (x) multiplying the then current Purchase
Price by the then number of one one- hundredths of a Preferred Share for which a Right was exercisable immediately prior to the first occurrence of a Section 11(a)(ii) Event and (y) dividing that product by 50% of the then current per share market
price of the Corporation’s Common Shares (determined pursuant to Section 11(d) hereof) on the 

 
 -12- 

  
 date of such first occurrence (such number of shares being referred to as the
“Adjustment Shares”); provided, however, that if the transaction that would otherwise give rise to the foregoing adjustment is also subject to the provisions of Section 13 hereof, then only the provisions of Section 13 hereof
shall apply and no adjustment shall be made pursuant to this Section 11(a)(ii). 
  
 (iii)    In the event that there shall not be sufficient treasury shares or authorized but unissued (and unreserved) Common Shares to permit the exercise in full of the Rights in accordance with the foregoing
subparagraph (ii) and the Rights become so exercisable (and the Board has determined to make the Rights exercisable into fractions of a Preferred Share), notwithstanding any other provision of this Agreement, to the extent necessary and permitted by
applicable law, each Right shall thereafter represent the right to receive, upon exercise thereof at the then current Purchase Price in accordance with the terms of this Agreement, (x) a number of (or fractions of) Common Shares (up to the maximum
number of Common Shares which may permissibly be issued) and (y) one one-hundredth of a Preferred Share or a number of (or fractions of) other equity securities of the Corporation (or, in the discretion of the Board of Directors, debt) which the
Board of Directors of the Corporation has determined to have the same aggregate current market value (determined pursuant to Sections 11(d)(i) and (ii) hereof, to the extent applicable) as one Common Share (such number of (or fractions of) Preferred
Shares (or other equity securities or debt of the Corporation) being referred to as a “capital stock equivalent”), equal in the aggregate to the number of Adjustment Shares; provided, however, if sufficient Common Shares and/or
capital stock equivalents are unavailable, then the Corporation shall, to the extent permitted by applicable law, take all such action as may be necessary to authorize additional Common Shares or capital stock equivalents for issuance upon exercise
of the Rights, including the calling of a meeting of stockholders; and provided, further, that if the Corporation is unable to cause sufficient Common Shares and/or capital stock equivalents to be available for issuance upon exercise in full of the
Rights, then each Right shall thereafter represent the right to receive the Adjusted Number of Shares upon exercise at the Adjusted Purchase Price (as such terms are hereinafter defined). As used herein, the term “Adjusted Number of
Shares” shall be equal to that number of (or fractions of) Common Shares (and/or capital stock equivalents) equal to the product of (x) the number of Adjustment Shares and (y) a fraction, the numerator of which is the number of Common
Shares (and/or capital stock equivalents) available for issuance upon exercise of the Rights and the denominator of which is the aggregate number of Adjustment Shares otherwise issuable upon exercise in full of all Rights (assuming there were a
sufficient number of Common Shares available) (such fraction being referred to as the “Proration Factor”). The “Adjusted Purchase Price” shall mean the product of the Purchase Price and the Proration Factor. The
Board of Directors may, but shall not be required to, establish procedures to allocate the right to receive Common Shares and capital stock equivalents upon exercise of the Rights among holders of Rights. 
  
 (b)    In case the Corporation shall fix a record date for the issuance of rights (other than the Rights), options or
warrants to all holders of Preferred Shares entitling them (for a period expiring within 45 calendar days after such record date) to subscribe for or purchase Preferred Shares (or shares having the same rights and privileges as the Preferred Shares

 
 -13- 

 (“equivalent preferred shares”) or securities convertible into Preferred Shares or equivalent preferred shares at a price per
Preferred Share or equivalent preferred share (or having a conversion price per share, if a security convertible into Preferred Shares or equivalent preferred shares) less than the then current per share market price of the Preferred Shares (as
determined pursuant to Section 11(d) hereof) on such record date, the Purchase Price to be in effect after such record date shall be determined by multiplying the Purchase Price in effect immediately prior to such record date by a fraction, the
numerator of which shall be the number of Preferred Shares outstanding on such record date plus the number of Preferred Shares which the aggregate offering price of the total number of Preferred Shares and/or equivalent preferred shares so to be
offered (and/or the aggregate initial conversion price of the convertible securities so to be offered) would purchase at such current per share market price, and the denominator of which shall be the number of Preferred Shares outstanding on such
record date plus the number of additional Preferred Shares and/or equivalent preferred shares to be offered for subscription or purchase (or into which the convertible securities so to be offered are initially convertible); provided, however, that
in no event shall the consideration to be paid upon the exercise of one Right be less than the aggregate par value of the shares of capital stock of the Corporation issuable upon exercise of one Right. In case such subscription price may be paid in
a consideration part or all of which shall be in a form other than cash, the value of such consideration shall be determined in good faith by the Board of Directors of the Corporation, whose determination shall be described in a statement filed with
the Rights Agent and shall be binding on the Rights Agent. Preferred Shares owned by or held for the account of the Corporation shall not be deemed outstanding for the purpose of any such computation. Such adjustment shall be made successively
whenever such a record date is fixed; and in the event that such rights, options or warrants are not so issued, the Purchase Price shall be adjusted to be the Purchase Price which would then be in effect if such record date had not been fixed.

  
 (c)    In case the Corporation shall fix a record date for the making of a distribution to
all holders of the Preferred Shares (including any such distribution made in connection with a consolidation or merger in which the Corporation is the continuing or surviving corporation) of evidences of indebtedness or assets (other than a regular
quarterly cash dividend or a dividend payable in Preferred Shares) or subscription rights or warrants (excluding those referred to in Section 11(b) hereof), the Purchase Price to be in effect after such record date shall be determined by multiplying
the Purchase Price in effect immediately prior to such record date by a fraction, the numerator of which shall be the then current per share market price (as determined pursuant to Section 11(d) hereof) of the Preferred Shares on such record date,
less the fair market value (as determined in good faith by the Board of Directors of the Corporation, whose determination shall be described in a statement filed with the Rights Agent and shall be binding on the Rights Agent) of the portion of the
assets or evidences of indebtedness so to be distributed or of such subscription rights or warrants applicable to one Preferred Share and the denominator of which shall be such current per share market price of the Preferred Shares; provided,
however, that in no event shall the consideration to be paid upon the exercise of one Right be less than the aggregate par value of the shares of capital stock of the Corporation to be issued upon exercise of one Right. Such adjustments shall be
made successively whenever such a record date is fixed; and in the event that such distribution is not so made, the Purchase Price shall again be adjusted to be the Purchase Price which would then be in effect if such record date had not been fixed.

 
 -14- 

  
 (d)    (i) For the purpose of any computation hereunder, the
“current per share market price” of any security (a “Security” for the purpose of this Section 11(d)(i)) on any date shall be deemed to be the average of the daily closing prices per share of such Security for the
thirty (30) consecutive Trading Days (as such term is hereinafter defined) immediately prior to such date; provided, however, that in the event that the current per share market price of the Security is determined during a period following the
announcement by the issuer of such Security of (A) a dividend or distribution on such Security payable in shares of such Security or securities convertible into such shares, or (B) any subdivision, combination or reclassification of such Security
and prior to the expiration of thirty (30) Trading Days after the ex-dividend date for such dividend or distribution, or the record date for such subdivision, combination or reclassification, then, and in each such case, the current per share market
price shall be appropriately adjusted to reflect the current market price per share equivalent of such Security. The closing price for each day shall be the last sale price, regular way, or, in case no such sale takes place on such day, the average
of the closing bid and asked prices, regular way, in either case as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the New York Stock Exchange or, if the Security is
not listed or admitted to trading on the New York Stock Exchange, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the Security is listed
or admitted to trading or, if the Security is not listed or admitted to trading on any national securities exchange, the last quoted price or, if not so quoted, the average of the high bid and low asked prices in the over-the- counter market, as
reported by the National Association of Securities Dealers, Inc. Automated Quotations System (“NASDAQ”) or such other system then in use, or, if on any such date the Security is not quoted by any such organization, the average of
the closing bid and asked prices as furnished by a professional market maker making a market in the Security selected by the Board of Directors of the Corporation. If on any such date no such market maker is making a market in the Security, the fair
value of the Security on such date as determined in good faith by the Board of Directors of the Corporation shall be used. The term “Trading Day” shall mean a day on which the principal national securities exchange on which the
Security is listed or admitted to trading is open for the transaction of business or, if the Security is not listed or admitted to trading on any national securities exchange, a Business Day. Subject to Section 11(d)(ii), if any Security is not
publicly held or so listed or traded, “current per share market price” of such Security shall mean the fair market value per share as determined in good faith by the Board of Directors of the Corporation, whose determination shall be
described in a statement filed with the Rights Agent and shall be binding on the Rights Agent. 
  
 (ii)    For the purpose of any computation hereunder, the “current per share market price” of the Preferred Shares shall be determined in accordance with the method set forth in Section 11(d)(i). If the
Preferred Shares are not publicly traded, the current per share market price of the Preferred Shares shall be conclusively deemed to be the current per share market price of the Common Shares as determined pursuant to Section 11(d)(i) (appropriately
adjusted to reflect any stock split, stock dividend or similar transaction occurring after the date hereof), multiplied by one hundred. If neither the Common Shares nor the Preferred Shares are publicly held or so listed or traded, “current per
share market price” shall mean the fair value per share as determined in good faith by the Board of Directors of the Corporation, whose determination shall be 

 
 -15- 

 described in a statement filed with the Rights Agent and shall be binding on the Rights Agent. 
  
 (e)    Notwithstanding anything herein to the contrary, no adjustment in the Purchase Price shall be required unless
such adjustment would require an increase or decrease of at least 1% in the Purchase Price; provided, however, that any adjustments which by reason of this Section 11(e) are not required to be made shall be carried forward and taken into account in
any subsequent adjustment. All calculations under this Section 11 shall be made to the nearest cent or to the nearest one one-hundredth-thousandth of a Preferred Share or one ten-thousandth of any other share or security, as the case may be.
Notwithstanding the first sentence of this Section 11(e), any adjustment required by this Section 11 shall be made no later than the earlier of (i) three (3) years from the date of the transaction which mandates such adjustment or (ii) the Final
Expiration Date. 
  
 (f)    If, as a result of an adjustment made pursuant to Section 11(a)(ii)
or Section 13(a) hereof, the holder of any Right thereafter exercised shall become entitled to receive any shares of capital stock of the Corporation other than Preferred Shares, thereafter the number of other shares so receivable upon exercise of
any Right shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Preferred Shares contained in Sections 11(a) through (c), inclusive, and the provisions of
Sections 7, 9, 10, 13 and 14 with respect to the Preferred Shares shall apply on like terms to any such other shares. 
  
 (g)    All Rights originally issued by the Corporation subsequent to any adjustment made to the Purchase Price hereunder shall evidence the right to purchase, at the adjusted Purchase Price, the number of
one-hundredths of a Preferred Share purchasable from time to time hereunder upon exercise of the Rights, all subject to further adjustment as provided herein. 
  
 (h)    Unless the Corporation shall have exercised its election as provided in Section 11(i), upon each adjustment of the Purchase Price as a result of the calculations made in
Sections 11(b) and (c), each Right outstanding immediately prior to the making of such adjustment shall thereafter evidence the right to purchase, at the adjusted Purchase Price, that number of one one-hundredths of a Preferred Share (calculated to
the nearest one one-hundredth thousandths of a Preferred Share) obtained by (i) multiplying (x) the number of Preferred Shares covered by a Right immediately prior to this adjustment of the Purchase Price by (y) the Purchase Price in effect
immediately prior to such adjustment of the Purchase Price and (ii) dividing the product so obtained by the Purchase Price in effect immediately after such adjustment of the Purchase Price. 
  
 (i)    The Corporation may elect on or after the date of any adjustment of the Purchase Price to adjust the number of Rights, in lieu of any adjustment
in the number of one one-hundredths of a Preferred Share purchasable upon the exercise of a Right. Each of the Rights outstanding after such adjustment of the number of Rights shall be exercisable for the number of one one-hundredths of a Preferred
Share for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that number of Rights (calculated to the nearest one ten- 

 
 -16- 

  
 thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the
Purchase Price by the Purchase Price in effect immediately after adjustment of the Purchase Price. The Corporation shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and,
if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Purchase Price is adjusted or any day thereafter, but, if the Right Certificates have been issued, shall be at least ten (10) days later
than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i), the Corporation shall, as promptly as practicable, cause to be distributed to holders of
record of Right Certificates on such record date Right Certificates evidencing, subject to Section 14 hereof, the additional Rights to which such holders shall be entitled as a result of such adjustment, or, at the option of the Corporation, shall
cause to be distributed to such holders of record in substitution and replacement for the Right Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Corporation, new Right Certificates
evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Certificates so to be distributed shall be issued, executed and countersigned in the manner provided for herein and shall be registered in the names of
the holders of record of Right Certificates on the record date specified in the public announcement. 
  
 (j)    Irrespective of any adjustment or change in the Purchase Price or the number of one one-hundredths of a Preferred Share issuable upon the exercise of the Rights, the Right Certificates theretofore and
thereafter issued may continue to express the Purchase Price and the number of one one-hundredths of a Preferred Share which were expressed in the initial Right Certificates issued hereunder. 
  

(k)    Before taking any action that would cause an adjustment reducing the Purchase Price below the then par value, if any, of the number of one
one-hundredths of a Preferred Share, Common Shares or other securities issuable upon exercise of the Rights, the Corporation shall take any corporate action which may, in the opinion of its counsel, be necessary in order that the Corporation may
validly and legally issue such number of fully paid and nonassessable one one-hundredths of a Preferred Share, Common Shares or other securities at such adjusted Purchase Price. 
  
 (l)    In any case in which this Section 11 shall require that an adjustment in the Purchase Price be made effective as of a record date for a specified
event, the Corporation may elect to defer until the occurrence of such event the issuance to the holder of any Right exercised after such record date the Preferred Shares, Common Shares or other securities of the Corporation, if any, issuable upon
such exercise over and above the Preferred Shares, Common Shares or other securities of the Corporation, if any, issuable upon exercise on the basis of the Purchase Price in effect prior to such adjustment; provided, however, that the Corporation
shall deliver to such holder a due bill or other appropriate instrument evidencing such holder’s right to receive such additional shares upon the occurrence of the event requiring such adjustment. 
  
 (m)    Notwithstanding anything in this Section 11 to the contrary, the Corporation shall be entitled to make such
reductions in the Purchase Price, in addition to those adjustments expressly required by this Section 11, as and to the extent that it in its sole discretion shall determine to be advisable in order that any (i) consolidation or subdivision of the
Preferred 

 
 -17- 

 Shares, (ii) issuance wholly for cash of Preferred Shares at less than the current market price, (iii) issuance wholly for cash of Preferred
Shares or securities which by their terms are convertible into or exchangeable for Preferred Shares, (iv) stock dividends or (v) issuance of rights, options or warrants referred to in this Section 11, hereafter made by the Corporation to holders of
its Preferred Shares shall not be taxable to such stockholders. 
  
 (n)    The Corporation
covenants and agrees that it shall not, at any time after the Distribution Date, (i) consolidate with any other Person (other than a Subsidiary of the Corporation in a transaction which does not violate Section 11(o) hereof), (ii) merge with or into
any other Person (other than a Subsidiary of the Corporation in a transaction which does not violate Section 11(o) hereof), or (iii) sell or transfer (or permit any Subsidiary to sell or transfer), in one transaction, or a series of related
transactions, assets or earning power aggregating more than 50% of the assets or earning power of the Corporation and its Subsidiaries (taken as a whole) to any other Person or Persons (other than the Corporation and/or any of its Subsidiaries in
one or more transactions each of which does not violate Section 11(o) hereof), if (x) at the time of or immediately after such consolidation, merger, sale or transfer there are any charter or by-law provisions or any rights, warrants or other
instruments or securities outstanding or agreements in effect or other actions taken, which would materially diminish or otherwise eliminate the benefits intended to be afforded by the Rights or (y) prior to, simultaneously with or immediately after
such consolidation, merger or sale, the stockholders of the Person who constitutes, or would constitute, the “Principal Party” for purposes of Section 13(a) hereof shall have received a distribution of Rights previously owned by such
Person or any of its Affiliates and Associates. The Corporation shall not consummate any such consolidation, merger, sale or transfer unless prior thereto the Corporation and such other Person shall have executed and delivered to the Rights Agent a
supplemental agreement evidencing compliance with this Section 11(n). 
  
 (o)    The Corporation
covenants and agrees that, after the Distribution Date, it will not, except as permitted by Section 23 or Section 27 hereof, take (or permit any Subsidiary to take) any action the purpose of which is to, or if at the time such action is taken it is
reasonably foreseeable that the effect of such action is to, materially diminish or otherwise eliminate the benefits intended to be afforded by the Rights. 
  
 (p)    The exercise of Rights under Section 11(a)(ii) shall only result in the reduction of rights under Section 11(a)(ii) to the extent so exercised and shall not otherwise affect
the rights represented by the Rights under this Rights Agreement, including the rights represented by Section 13. 
  
 Section 12.    Certificate of Adjusted Purchase Price or Number of Shares.  Whenever an adjustment is made as provided in Sections 11 or 13 hereof, the Corporation shall promptly (a) prepare a
certificate setting forth such adjustment, and a brief statement of the facts accounting for such adjustment, (b) file with the Rights Agent and with each transfer agent for the Common Shares and the Preferred Shares a copy of such certificate and
(c) mail a brief summary thereof to each holder of a Right Certificate in accordance with Section 26 hereof. The Rights Agent shall be fully protected in relying on any such certificate and on any adjustment therein contained and shall not be deemed
to have knowledge of such adjustment unless and until it shall have received such certificate. 

 
 -18- 

  
 Section 13.    Consolidation, Merger or Sale or Transfer
of Assets or Earning Power.  (a) In the event that, on or following the Shares Acquisition Date, directly or indirectly, (x) the Corporation shall consolidate with, or merge with and into, any Interested Stockholder or, if in such
merger or consolidation all holders of Common Shares are not treated alike, any other Person, (y) the Corporation shall consolidate with, or merge with, any Interested Stockholder or, if in such merger or consolidation all holders of Common Shares
are not treated alike, any other Person, and the Corporation shall be the continuing or surviving corporation of such consolidation or merger (other than, in a case of any transaction described in (x) or (y), a merger or consolidation which would
result in all of the securities generally entitled to vote in the election of directors (“voting securities”) of the Corporation outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into securities of the surviving entity) all of the voting securities of the Corporation or such surviving entity outstanding immediately after such merger or consolidation and the holders (and relative percentage holdings of each
such holder) of such securities not having changed as a result of such merger or consolidation), or (z) the Corporation shall sell or otherwise transfer (or one or more of its Subsidiaries shall sell or otherwise transfer), in one transaction or a
series of related transactions, assets or earning power aggregating more than 50% of the assets or earning power of the Corporation and its Subsidiaries (taken as a whole) to any Interested Stockholder or Persons or, if in such transaction all
holders of Common Shares are not treated alike, any other Person (other than the Corporation or any Subsidiary of the Corporation in one or more transactions each of which does not violate Section 11(o) hereof), then, and in each such case (except
as provided in Section 13(d) hereof), proper provision shall be made so that (i) each holder of a Right, except as provided in Section 7(e) hereof, shall thereafter have the right to receive, upon the exercise thereof at a price equal to the then
current Purchase Price, in accordance with the terms of this Agreement and in lieu of Preferred Shares, such number of freely tradable Common Shares of the Principal Party (as hereinafter defined), not subject to any liens, encumbrances, rights of
first refusal or other adverse claims, as shall equal the result obtained by (A) multiplying the then current Purchase Price by the number of one one-hundredths of a Preferred Share for which a Right is then exercisable (without taking into account
any adjustment previously made pursuant to Section 11(a)(ii)) and dividing that product by (B) 50% of the then current per share market price of the Common Shares of such Principal Party (determined pursuant to Section 11(d) hereof) on the date of
consummation of such Section 13 Event; (ii) such Principal Party shall thereafter be liable for, and shall assume, by virtue of such Section 13 Event, all the obligations and duties of the Corporation pursuant to this Agreement; (iii) the term
“Corporation” shall thereafter be deemed to refer to such Principal Party; it being specifically intended that the provisions of Section 11 hereof shall apply only to such Principal Party following the first occurrence of a Section 13
Event; and (iv) such Principal Party shall take such steps (including, but not limited to, the reservation of a sufficient number of its Common Shares) in connection with the consummation of any such transaction as may be necessary to assure that
the provisions hereof shall thereafter be applicable, as nearly as reasonably may be, in relation to the Common Shares thereafter deliverable upon the exercise of the Rights. 
  
 (b)    “Principal Party” shall mean 
  
 (i)    in the case of any transaction described in clause (x) or (y) of the first sentence of Section 13(a), the Person that is the
issuer of any securities into which 

 
 -19- 

  
 Common Shares of the Corporation are converted in such merger or consolidation,
and if no securities are so issued, the Person that is the other party to such merger or consolidation (including, if applicable, the Corporation if it is the surviving corporation); and 
  
 (ii)    in the case of any transaction described in clause (z) of the first sentence of Section 13(a), the Person that is the party
receiving the greatest portion of the assets or earning power transferred pursuant to such transaction or transactions; provided, however, that in any of the foregoing cases, (1) if the Common Shares of such Person are not at such time and have not
been continuously over the preceding twelve (12) month period registered under Section 12 of the Exchange Act, and such Person is a direct or indirect Subsidiary of another Person the Common Shares of which are and have been so registered,
“Principal Party” shall refer to such other Person; (2) in case such Person is a Subsidiary, directly or indirectly, of more than one Person, the Common Shares of two or more of which are and have been so registered, “Principal
Party” shall refer to whichever of such Persons is the issuer of the Common Shares having the greatest aggregate market value; and (3) in case such Person is owned, directly or indirectly, by a joint venture formed by two or more Persons that
are not owned, directly or indirectly, by the same Person, the rules set forth in (1) and (2) above shall apply to each of the chains of ownership having an interest in such joint venture as if such party were a “Subsidiary” of both or all
of such joint venturers and the Principal Parties in each such chain shall bear the obligations set forth in this Section 13 in the same ratio as their direct or indirect interests in such Person bear to the total of such interests. 

 
 (c)    The Corporation shall not consummate any such consolidation, merger, sale or transfer unless the
Principal Party shall have a sufficient number of its authorized Common Shares which have not been issued or reserved for issuance to permit the exercise in full of the Rights in accordance with this Section 13 and unless prior thereto the
Corporation and such Principal Party shall have executed and delivered to the Rights Agent a supplemental agreement providing for the terms set forth in paragraphs (a) and (b) of this Section 13 and further providing that, as soon as practicable
after the date of any consolidation, merger, sale or transfer mentioned in paragraph (a) of this Section 13, the Principal Party at its own expense shall: 
  
 (i)    prepare and file a registration statement under the Act with respect to the Rights and the securities purchasable upon exercise
of the Rights on an appropriate form, and use its best efforts to cause such registration statement to (A) become effective as soon as practicable after such filing and (B) remain effective (with a prospectus at all times meeting the requirements of
the Act) until the Final Expiration Date; 
  
 (ii)    use its best efforts to
qualify or register the Rights and the securities purchasable upon exercise of the Rights under the blue sky laws of such jurisdictions as may be necessary or appropriate; and 
  
 (iii)    deliver to holders of the Rights historical financial statements for the Principal Party which comply in all respects with the
requirements for registration on Form 10 under the Exchange Act. 

 
 -20- 

  
 The provisions of this Section 13 shall similarly apply to successive mergers or
consolidations or sales or other transfers. The rights under this Section 13 shall be in addition to the rights to exercise Rights and adjustments under Section 11(a)(ii) and shall survive any exercise thereof. 
  
 (d)    Notwithstanding anything in this Agreement to the contrary, Section 13 shall not be applicable to a transaction
described in subparagraphs (x) and (y) of Section 13(a) if: (i) such transaction is consummated with a Person or Persons who acquired Common Shares pursuant to a Permitted Offer (or a wholly owned Subsidiary of any such Person or Persons); (ii) the
price per Common Share offered in such transaction is not less than the price per Common Share paid to all holders of Common Shares whose shares were purchased pursuant to such Permitted Offer; and (iii) the form of consideration offered in such
transaction is the same as the form of consideration paid pursuant to such Permitted Offer. Upon consummation of any such transaction contemplated by this Section 13(d), all Rights hereunder shall expire. 
  
 Section 14.    Fractional Rights and Fractional Shares.  (a) The Corporation shall not be required to
issue fractions of Rights or to distribute Right Certificates which evidence fractional Rights. In lieu of such fractional Rights, there shall be paid to the registered holders of the Right Certificates with regard to which such fractional Rights
would otherwise be issuable, an amount in cash equal to the same fraction of the current market value of a whole Right. For the purposes of this Section 14(a), the current market value of a whole Right shall be the closing price of the Rights for
the Trading Day immediately prior to the date on which such fractional Rights would have been otherwise issuable. The closing price for any day shall be the last sale price, regular way, or, in case no such sale takes place on such day, the average
of the closing bid and asked prices, regular way, in either case as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the New York Stock Exchange or, if the Rights are not
listed or admitted to trading on the New York Stock Exchange, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the Rights are listed or
admitted to trading or, if the Rights are not listed or admitted to trading on any national securities exchange, the last quoted price or, if not so quoted, the average of the high bid and low asked prices in the over-the-counter market, as reported
by NASDAQ or such other system then in use or, if on any such date the Rights are not quoted by any such organization, the average of the closing bid and asked prices as furnished by a professional market maker making a market in the Rights selected
by the Board of Directors of the Corporation. If on any such date no such market maker is making a market in the Rights, the fair value of the Rights on such date as determined in good faith by the Board of Directors of the Corporation shall be
used. 
  
 (b)    The Corporation shall not be required to issue fractions of Preferred Shares
(other than fractions which are one one-hundredths or integral multiples of one one-hundredth of a Preferred Share) upon exercise of the Rights or to distribute certificates which evidence fractional Preferred Shares (other than fractions which are
one one-hundredths or integral multiples of one one-hundredth of a Preferred Share). Fractions of Preferred Shares in integral multiples of one one-hundredth of a Preferred Share may, at the election of the corporation, be evidenced by depositary
receipts, pursuant to an appropriate agreement between the Corporation and a depositary selected by it; provided that such agreement shall provide that the holders of such depositary receipts shall have the rights, privileges and preferences to
which 

 
 -21- 

  
 they are entitled as beneficial owners of the Preferred Shares represented by such depositary receipts.
In lieu of fractional Preferred Shares that are not one one-hundredth or integral multiples of one one-hundredth of a Preferred Share, the Corporation shall pay to the registered holders of Right Certificates at the time such Rights are exercised as
herein provided an amount in cash equal to the same fraction of the current market value of one Preferred Share. For the purposes of this Section 14(b), the current market value of a Preferred Share shall be the closing price of a Preferred Share
(as determined pursuant to Section 11(d)(ii) hereof) for the Trading Day immediately prior to the date of such exercise. 
  
 (c)     Following the occurrence of one of the transactions or events specified in Section 11 giving rise to the right to receive Common Shares, capital stock equivalents (other than Preferred Shares) or other
securities upon the exercise of a Right, the Corporation shall not be required to issue fractions of shares or units of such Common Shares, capital stock equivalents or other securities upon exercise of the Rights or to distribute certificates which
evidence fractions of such Common Shares, capital stock equivalents or other securities. In lieu of fractional shares or units of such Common Shares, capital stock equivalents or other securities, the Corporation may pay to the registered holders of
Right Certificates at the time such Rights are exercised as herein provided an amount in cash equal to the same fraction of the current market value of a share or unit of such Common Shares, capital stock equivalents or other securities. For
purposes of this Section 14(c), the current market value shall be determined in the manner set forth in Section 11(d) hereof for the Trading Day immediately prior to the date of such exercise and, if such capital stock equivalent is not traded, each
such capital stock equivalent shall have the value of one one-hundredth of a Preferred Share. 
  
 (d)     The holder of a Right by the acceptance of the Right expressly waives his right to receive any fractional Rights or any fractional share upon exercise of a Right (except as provided above). 

 
 Section 15.     Rights of Action. All rights of action in respect of this Agreement, excepting the
rights of action given to the Rights Agent under Section 18 hereof, are vested in the respective registered holders of the Right Certificates (and, prior to the Distribution Date, the registered holders of the Common Shares); and any registered
holder of any Right Certificate (or, prior to the Distribution Date, of the Common Shares), without the consent of the Rights Agent or of the holder of any other Right Certificate (or, prior to the Distribution Date, of the Common Shares), may, in
his own behalf and for his own benefit, enforce, and may institute and maintain any suit, action or proceeding against the Corporation to enforce, or otherwise act in respect of, his right to exercise the Rights evidenced by such Right Certificate
in the manner provided in such Right Certificate and in this Agreement. Without limiting the foregoing or any remedies available to the holders of Rights, it is specifically acknowledged that the holders of Rights would not have an adequate remedy
at law for any breach of this Agreement and will be entitled to specific performance of the obligations under, and injunctive relief against actual or threatened violations of the obligations of any Person subject to, this Agreement. 

 
 Section 16.     Agreement of Right Holders. Every holder of a Right, by accepting the same, consents
and agrees with the Corporation and the Rights Agent and with every other holder of a Right that: 

 
 -22- 

  
 (a)     prior to the Distribution Date, the Rights will be
transferable only in connection with the transfer of the Common Shares; 
  
 (b)     after the
Distribution Date, the Right Certificates are transferable only on the registry books of the Rights Agent if surrendered at the principal office or offices of the Rights Agent designated for such purpose, duly endorsed or accompanied by a proper
instrument of transfer and with the appropriate form fully executed; 
  
 (c)     subject to
Section 6 and Section 7(f) hereof, the Corporation and the Rights Agent may deem and treat the person in whose name the Right Certificate (or, prior to the Distribution Date, the associated Common Shares certificate) is registered in the records of
the Corporation as the absolute owner thereof and of the Rights evidenced thereby (notwithstanding any notations of ownership or writing on the Right Certificate or the associated Common Shares certificate made by anyone other than the Corporation
or the Rights Agent) for all purposes whatsoever, and neither the Corporation nor the Rights Agent, subject to the last sentence of Section 7(e) hereof, shall be required to be affected by any notice to the contrary; and 
  
 (d)     notwithstanding anything in this Agreement to the contrary, neither the Corporation nor the Rights Agent shall
have any liability to any holder of a Right or a beneficial interest in a Right or other Person as a result of its inability to perform any of its obligations under this Agreement by reason of any preliminary or permanent injunction or other order,
decree or ruling issued by a court of competent jurisdiction or by a governmental, regulatory or administrative agency or commission, or any statute, rule, regulation or executive order promulgated or enacted by any governmental authority,
prohibiting or otherwise restraining performance of such obligation; provided, however, the Corporation must use its best efforts to have any such order, decree or ruling lifted or otherwise overturned as soon as possible. 
  
 Section 17.    Right Certificate Holder Not Deemed a Stockholder. No holder, as such, of any Right Certificate
shall be entitled to vote, receive dividends or be deemed for any purpose the holder of the Preferred Shares or any other securities of the Corporation which may at any time be issuable on the exercise of the Rights represented thereby, nor shall
anything contained herein or in any Right Certificate be construed to confer upon the holder of any Right Certificate, as such, any of the rights of a stockholder of the Corporation or any right to vote for the election of directors or upon any
matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action, or to receive notice of meetings or other actions affecting stockholders (except as provided in Section 25 hereof), or to receive
dividends or other distributions or to exercise any preemptive or subscription rights, or otherwise, until the Right or Rights evidenced by such Right Certificate shall have been exercised in accordance with the provisions hereof. 

 
 Section 18.    Concerning the Rights Agent. The Corporation agrees to pay to the Rights Agent
reasonable compensation for all services rendered by it hereunder and, from time to time, on demand of the Rights Agent, its reasonable expenses and counsel fees and other disbursements incurred in the administration and execution of this Agreement
and the exercise and performance of its duties hereunder. The Corporation also agrees to indemnify the Rights Agent for, and to hold it harmless against, any loss, liability, or expense, incurred without negligence, bad faith or willful misconduct
on the part of the Rights Agent, for anything done or 

 
 -23- 

 omitted by the Rights Agent in connection with the acceptance and administration of this Agreement, including the costs and expenses of
defending against any claim of liability in the premises. 
  
 The Rights Agent shall be protected and shall incur no
liability for, or in respect of any action taken, suffered or omitted by it in connection with, its administration of this Agreement in reliance upon any Right Certificate or certificate for Common Shares or for other securities of the Corporation,
instrument of assignment or transfer, power of attorney, endorsement, affidavit, letter, notice, direction, consent, certificate, statement, or other paper or document believed by it to be genuine and to be signed, executed and, where necessary,
verified or acknowledged, by the proper Person or Persons. 
  
 Section 19.    Merger or
Consolidation or Change of Name of Rights Agent. Any corporation into which the Rights Agent or any successor Rights Agent may be merged or with which it may be consolidated, or any corporation resulting from any merger or consolidation
to which the Rights Agent or any successor Rights Agent shall be a party, or any corporation succeeding to the stock transfer or all or substantially all of the corporate trust business of the Rights Agent or any successor Rights Agent, shall be the
successor to the Rights Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that such corporation would be eligible for appointment as a successor Rights Agent
under the provisions of Section 21 hereof. In case at the time such successor Rights Agent shall succeed to the agency created by this Agreement, any of the Right Certificates shall have been countersigned but not delivered, any such successor
Rights Agent may adopt the countersignature of a predecessor Rights Agent and deliver such Right Certificates so countersigned; and in case at that time any of the Right Certificates shall not have been countersigned, any successor Rights Agent may
countersign such Right Certificates in its name as the successor Rights Agent; and in all such cases such Right Certificates shall have the full force provided in the Right Certificates and in this Agreement. 
  
 In case at any time the name of the Rights Agent shall be changed and at such time any of the Right Certificates shall have been
countersigned but not delivered, the Rights Agent may adopt the countersignature under its prior name and deliver Right Certificates so countersigned; and in case at that time any of the Right Certificates shall not have been countersigned, the
Rights Agent may countersign such Right Certificates either in its prior name or in its changed name; and in all such cases such Right Certificates shall have the full force provided in the Right Certificates and in this Agreement. 

 
 Section 20.     Duties of Rights Agent. The Rights Agent undertakes the duties and obligations
imposed by this Agreement upon the following terms and conditions, by all of which the Corporation and the holders of Right Certificates, by their acceptance thereof, shall be bound and no implied duties or obligations shall be read into this
Agreement against the Rights Agent: 
  
 (a)     The Rights Agent may consult with legal counsel
(who may be legal counsel for the Corporation), and the opinion of such counsel shall be full and complete authorization and protection to the Rights Agent as to any action taken or omitted by it in good faith and in accordance with such opinion.

 
 -24- 

  
 (b)    Whenever in the performance of its duties under this
Agreement the Rights Agent shall deem it necessary or desirable that any fact or matter (including, without limitation, the identity of an Acquiring Person and the determination of the current market price of any Security) be proved or established
by the Corporation prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by
any one of the Chairman of the Board, the Chief Executive Officer, the President, any Vice President, the Treasurer or the Secretary of the Corporation and delivered to the Rights Agent; and such certificate shall be full authorization to the Rights
Agent for any action taken or suffered in good faith by it under the provisions of this Agreement in reliance upon such certificate. 
  
 (c)    The Rights Agent shall be liable hereunder only for its own gross negligence, bad faith or willful misconduct. 
  
 (d)    The Rights Agent shall not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in the Right
Certificates (except its countersignature on such Right Certificates) or be required to verify the same, but all such statements and recitals are and shall be deemed to have been made by the Corporation only. 
  
 (e)    The Rights Agent shall not be under any responsibility in respect of the validity of this Agreement or the
execution and delivery hereof (except the due execution hereof by the Rights Agent) or in respect of the validity or execution of any Right Certificate (except its countersignature thereof); nor shall it be responsible for any breach by the
Corporation of any covenant or condition contained in this Agreement or in any Rights Certificate; nor shall it be responsible for any adjustment required under the provisions of Section 11 or Section 13 hereof or responsible for the manner, method
or amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment (except with respect to the exercise of Rights evidenced by Right Certificates after receipt of the certificate described in
Section 12 hereof); nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Preferred Shares or Common Shares or other securities to be issued pursuant to this Agreement or any
Right Certificate or as to whether any Preferred Shares or Common Shares or other securities will, when issued, be validly authorized and issued, fully paid and nonassessable. 
  
 (f)    The Corporation agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all
such further and other acts, instruments and assurances as may reasonably be required by the Rights Agent for the carrying out or performing by the Rights Agent of the provisions of this Agreement. 
  
 (g)    The Rights Agent is hereby authorized and directed to accept instructions with respect to the performance of
its duties hereunder from any one of the Chairman of the Board, the Chief Executive Officer, the President, any Vice President, the Treasurer or the Secretary of the Corporation, and to apply to such officers for advice or instructions in connection
with its duties, and shall not be liable for any action taken or suffered by it in good faith in accordance with instructions of any such officer. Any application by the Rights Agent for written instructions from the Corporation may, at the option
of the Rights Agent, set forth in 

 
 -25- 

 writing any action proposed to be taken or omitted by the Rights Agent under this Rights Agreement and the date on or after which such action
shall be taken or such omission shall be effective. The Rights Agent shall not be liable for any action taken by, or omission of, the Rights Agent in accordance with a proposal included in any such application on or after the date specified in such
application (which date shall not be less than five Business Days after the date any officer of the Corporation actually receives such application, unless any such officer shall have consented in writing to an earlier date) unless, prior to taking
any such action (or the effective date in the case of an omission), the Rights Agent shall have received written instruction in response to such application specifying the action to be taken or omitted. 
  
 (h)    The Rights Agent and any stockholder, director, officer or employee of the Rights Agent may buy, sell or deal
in any of the Rights or other securities of the Corporation or become pecuniarily interested in any transaction in which the Corporation may be interested, or contract with or lend money to the Corporation or otherwise act as fully and freely as
though it were not Rights Agent under this Agreement. Nothing herein shall preclude the Rights Agent from acting in any other capacity for the Corporation or for any other legal entity. 
  
 (i)     The Rights Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or
through its attorneys or agents, and the Rights Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such attorneys or agents or for any loss to the Corporation resulting from any such act, default, neglect
or misconduct, provided reasonable care was exercised in the selection and continued employment thereof. 
  
 (j)     No provision of this Agreement shall require the Rights Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise
of its rights if there shall be reasonable grounds for believing that repayment of such funds or adequate indemnification against such risk or liability is not reasonably assured to it. 
  
 (k)     If, with respect to any Rights Certificate surrendered to the Rights Agent for exercise or transfer, the certificate attached to the form of
assignment or form of election to purchase, as the case may be, has not been completed, the Rights Agent shall not take any further action with respect to such requested exercise of transfer without receiving written instructions from the
Corporation. 
  
 (l)     The Rights Agent shall have no responsibility to the Company, any
holders of Rights, any holders of Common Stock or any holders of Preferred Stock for interest or earnings on any monies held by the Rights Agent pursuant to this Agreement. 
  
 (m)     The Rights Agent shall not be required to take notice or be deemed to have notice of any fact, event or determination (including, without
limitation, any dates or events defined in this Agreement or the designation of any Person as an Acquiring Person, Affiliate or Associate) under this Agreement unless and until the Rights Agent shall be specifically notified in writing by the
Company of such fact, event or determination, and all notices shall be effective if given in accordance with Section 26 hereof, and in the absence of such notice the Rights Agent may conclusively assume that no such event or condition exists.

 
 -26- 

  
 Section 21.     Change of Rights Agent. The Rights
Agent or any successor Rights Agent may resign and be discharged from its duties under this Agreement upon thirty (30) days’ notice in writing mailed to the Corporation and to each transfer agent of the Preferred Shares or Common Shares by
registered or certified mail, and to the holders of the Right Certificates by first-class mail. The Corporation may remove the Rights Agent or any successor Rights Agent upon sixty (60) days’ notice in writing, mailed to the Rights Agent or
successor Rights Agent, as the case may be, and to each transfer agent of the Preferred Shares or Common Shares by registered or certified mail, and to holders of the Right Certificates by first-class mail. If the Rights Agent shall resign or be
removed or shall otherwise become incapable of acting, the Corporation shall appoint a successor to the Rights Agent. If the Corporation shall fail to make such appointment within a period of sixty (60) days after giving notice of such removal or
after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Rights Agent or by the holder of a Right Certificate (who shall, with such notice, submit his Right Certificate for inspection by the
Corporation), then the registered holder of any Right Certificate or the resigning or incapacitated Rights Agent may apply to any court of competent jurisdiction for the appointment of a new Rights Agent. Any successor Rights Agent, whether
appointed by the Corporation or by such a court, shall be a corporation organized and doing business under the laws of the United States or any state of the United States, in good standing, which is authorized under such laws to exercise corporate
trust or stock transfer powers and is subject to supervision or examination by federal or state authority and which has at the time of its appointment as Rights Agent a combined capital and surplus of at least $100,000,000 (or such lower number as
approved by the Corporation’s Board of Directors). After appointment, the successor Rights Agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named as Rights Agent without further act or
deed and the duties and obligations of the resigning or incapacitated Rights Agent shall cease and terminate; but the predecessor Rights Agent shall deliver and transfer to the successor Rights Agent any property at the time held by it hereunder,
and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose. Not later than the effective date of any such appointment the Corporation shall file notice thereof in writing with the predecessor Rights Agent and
each transfer agent of the Preferred Shares or Common Shares and mail a notice thereof in writing to the registered holders of the Right Certificates. Failure to give any notice provided for in this Section 21, however, or any defect therein, shall
not affect the legality or validity of the resignation or removal of the Rights Agent or the appointment of the successor Rights Agent, as the case may be. 
  
 Section 22.     Issuance of New Right Certificates. Notwithstanding any of the provisions of this Agreement or of the Rights to the contrary, the Corporation may, at its
option, issue new Right Certificates evidencing Rights in such form as may be approved by its Board of Directors to reflect any adjustment or change in the Purchase Price and the number or kind or class of shares or other securities or property
purchasable under the Right Certificates made in accordance with the provisions of this Agreement. 
  
 In addition,
in connection with the issuance or sale of Common Shares following the Distribution Date and prior to the earliest of the Redemption Date, the Final Expiration Date and the consummation of a transaction contemplated by Section 13(d) hereof, the
Corporation (a) shall with respect to Common Shares so issued or sold pursuant to the exercise of stock options or under any employee plan or arrangement, or upon the exercise, conversion or exchange of 

 
 -27- 

 securities, notes or debentures issued by the Corporation, and (b) may, in any other case, if deemed necessary or appropriate by the Board of
Directors of the Corporation, issue Right Certificates representing the appropriate number of Rights in connection with such issuance or sale; provided, however, that no Right Certificate shall be issued if, and to the extent that, appropriate
adjustment shall otherwise have been made in lieu of the issuance thereof. 
  
 Section
23.    Redemption and Termination. (a)   (i) The Board of Directors of the Corporation may, at its option, redeem all but not less than all the then outstanding Rights at a redemption price of $0.005 per Right,
as such amount may be appropriately adjusted to reflect any stock split, stock dividend or similar transaction occurring after the date hereof (such redemption price being hereinafter referred to as the “Redemption Price”), at any
time prior to the earlier of (x) the occurrence of a Section 11(a)(ii) Event, or (y) the Final Expiration Date, and the Corporation may, at its option, pay the Redemption Price either in Common Shares (based on the current per share market price, as
defined in Section 11(d) hereof, of the Common Shares at the time of redemption) or cash; provided, however, that if the Corporation elects to pay the Redemption Price in Common Shares, the Corporation shall not be required to issue any fractional
Common Shares and the number of Common Shares issuable to each holder of Rights shall be rounded down to the next whole share. 
  
 (ii)    In addition, the Board of Directors of the Corporation may, at its option, at any time following a Shares Acquisition Date but prior to any Section 13 Event, redeem all but
not less than all of the then outstanding Rights at the Redemption Price in connection with any Section 13 Event in which all holders of Common Shares are treated alike and not involving (other than as a holder of Common Shares being treated like
all other such holders) a Transaction Person. 
  
 (b)    In the case of a redemption permitted
under Section 23(a)(i), immediately upon the date for redemption set forth (or determined in the manner specified in) in a resolution of the Board of Directors of the Corporation ordering the redemption of the Rights, evidence of which shall have
been filed with the Rights Agent, and without any further action and without any notice, the right to exercise the Rights will terminate and the only right thereafter of the holders of Rights shall be to receive the Redemption Price for each Right
so held. In the case of a redemption permitted only under Section 23(a)(ii), evidence of which shall have been filed with the Rights Agent, the right to exercise the Rights will terminate and represent only the right to receive the Redemption Price
upon the later of ten Business Days following the giving of notice or the expiration of any period during which the rights under Section 11(a)(ii) may be exercised. The Corporation shall promptly give public notice of any such redemption; provided,
however, that the failure to give, or any defect in, any such notice shall not affect the validity of such redemption. Within ten (10) days after such date for redemption set forth in a resolution of the Board of Directors ordering the redemption of
the Rights, the Corporation shall mail a notice of redemption to all the holders of the then outstanding Rights at their last addresses as they appear upon the registry books of the Rights Agent or, prior to the Distribution Date, on the registry
books of the transfer agent for the Common Shares. Any notice which is mailed in the manner herein provided shall be deemed given, whether or not the holder receives the notice. Each such notice of redemption will state the method by which the
payment of the Redemption Price will be made. Neither the Corporation nor any of its Affiliates or Associates may redeem, acquire or purchase for value any Rights at any time in any manner other than that specifically 

 
 -28- 

 set forth in this Section 23 and other than in connection with the purchase of Common Shares prior to the Distribution Date. 

 
 (c)    In the case of a redemption permitted under Section 23(a)(i), the Corporation may, at its option,
discharge all of its obligations with respect to the Rights by (i) issuing a press release announcing the manner of redemption of the Rights in accordance with this Agreement and (ii) mailing payment of the Redemption Price to the registered holders
of the Rights at their last addresses as they appear on the registry books of the Rights Agent or, prior to the Distribution Date, on the registry books of the Transfer Agent of the Common Shares, and upon such action, all outstanding Rights and
Right Certificates shall be null and void without any further action by the Corporation. 
  
 Section
21.    Exchange. (a) The Board of Directors of the Corporation may, at its option, at any time after the time that any Person becomes an Acquiring Person, exchange all or part of the then outstanding and exercisable Rights
(which shall not include Rights that have become void pursuant to the provisions of Section 7(e) and Section 11(a)(ii) hereof) for Common Shares of the Corporation at an exchange ratio of one Common Share per Right, appropriately adjusted to reflect
any stock split, stock dividend or similar transaction involving either the Common Shares or the Preferred Shares occurring after the date hereof (such exchange ratio being hereinafter referred to as the “Exchange Ratio”).
Notwithstanding the foregoing, the Board of Directors shall not be empowered to effect such exchange at any time after any Person (other than the Corporation, any Subsidiary of the Corporation, any employee benefit plan of the Corporation or any
such Subsidiary, any entity holding Common Shares for or pursuant to the terms of any such plan or any trustee, administrator or fiduciary of such a plan), together with all Affiliates and Associates of such Person, becomes the Beneficial Owner of
50% or more of the Common Shares then outstanding. 
  
 (b)     Immediately upon the action of the
Board of Directors of the Corporation ordering the exchange of any Rights pursuant to subsection (a) of this Section 24 and without any further action and without any notice, the right to exercise such rights shall terminate and the only right
thereafter of a holder of such Rights shall be to receive that number of Common Shares equal to the number of such rights held by such holder multiplied by the Exchange Ratio. The Corporation shall promptly give public notice of any such exchange;
provided, however, that the failure to give, or any defect in, such notice shall not affect the validity of such exchange. The Corporation promptly shall mail a notice of any such exchange to all of the holders of such Rights at their last addresses
as they appear upon the registry books of the Rights Agent. Any notice which is mailed in the manner herein provided shall be deemed given, whether or not the holder receives the notice. Each such notice of exchange will state the method by which
the exchange of the Common Shares for Rights will be effected and, in the event of any partial exchange, the number of Rights which will be exchanged. Any partial exchange shall be effected pro rata based on the number of Rights (other than Rights
which have become void pursuant to the provisions of Section 7(e) and Section 11(a)(ii) hereof) held by each holder of Rights. 
  
 (c)    In any exchange pursuant to this Section 24, the Corporation, at its option, may substitute Preferred Shares (or equivalent preferred shares, as such term is defined in Section 11(b) hereof) for some or all
of the Common Shares exchangeable for Rights, at the 

 
 -29- 

 initial rate of one-hundredth of a Preferred Share (or equivalent preferred share) for each Common Share, as appropriately adjusted to reflect
adjustments in the voting rights of the Preferred Shares pursuant to the terms thereof, so that the fraction of a Preferred Share delivered in lieu of each Common Share shall have the same voting rights as one Common Share. 
  
 (d)    The Board of Directors of the Corporation shall not authorize any exchange transaction referred to in Section
24(a) hereof unless at the time such exchange is authorized there shall be sufficient Common Shares or Preferred Shares issued but not outstanding or authorized but unissued to permit the exchange of Rights as contemplated in accordance with this
Section 24. 
  
 Section 25.    Notice of Certain Events. (a) In case the Corporation shall
propose (i) to pay any dividend payable in stock of any class to the holders of its Preferred Shares or to make any other distribution to the holders of its Preferred Shares (other than a regularly quarterly cash dividend), (ii) to offer to the
holders of its Preferred Shares rights or warrants to subscribe for or to purchase any additional Preferred Shares or shares of stock of any class or any other securities, rights or options, (iii) to effect any reclassification of its Preferred
Shares (other than a reclassification involving only the subdivision of outstanding Preferred Shares), (iv) to effect any consolidation or merger into or with any other Person (other than a Subsidiary of the Corporation in a transaction which does
not violate Section 11(o) hereof), or to effect any sale or other transfer (or to permit one or more of its Subsidiaries to effect any sale or other transfer) in one or more transactions, of 50% or more of the assets or earning power of the
Corporation and its Subsidiaries (taken as a whole) to any other Person or Persons (other than the Corporation and/or any of its Subsidiaries in one or more transactions each of which does not violate Section 11(o) hereof), or (v) to effect the
liquidation, dissolution or winding up of the Corporation, then, in each such case, the Corporation shall give to each holder of a Right Certificate, in accordance with Section 26 hereof, a notice of such proposed action to the extent feasible and
file a certificate with the Rights Agent to that effect, which shall specify the record date for the purposes of such stock dividend, or distribution of rights or warrants, or the date on which such reclassification, consolidation, merger, sale,
transfer, liquidation, dissolution, or winding up is to take place and the date of participation therein by the holders of the Preferred Shares, if any such date is to be fixed, and such notice shall be so given in the case of any action covered by
clause (i) or (ii) above at least twenty (20) days prior to the record date for determining holders of the Preferred Shares for purposes of such action, and in the case of any such other action, at least twenty (20) days prior to the date of the
taking of such proposed action or the date of participation therein by the holders of the Preferred Shares, whichever shall be the earlier. 
  
 (b)    In case of a Section 11(a)(ii) Event, then (i) the Corporation shall as soon as practicable thereafter give to each holder of a Right Certificate, in accordance with Section
26 hereof, a notice of the occurrence of such event, which notice shall describe such event and the consequences of such event to holders of Rights under Section 11(a)(ii) hereof and (ii) all references in the preceding paragraph (a) to Preferred
Shares shall be deemed thereafter to refer also, if appropriate, to Common Shares and/or, if appropriate, other securities of the Corporation. 
  
 Section 26.    Notices. Notices or demands authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right Certificate to or on the

 
 -30- 

 Corporation shall be sufficiently given or made if sent by registered or certified mail, postage prepaid, return receipt required addressed
(until another address is filed in writing with the Rights Agent) as follows: 
  
 ONEOK, Inc.

 100 West Fifth Street 
 Tulsa, Oklahoma 74103 
  
 Subject to the provisions of Section 21 hereof, any notice or demand
authorized by this Agreement to be given or made by the Corporation or by the holder of any Right Certificate to or on the Rights Agent shall be sufficiently given or made if sent by registered or certified mail, postage prepaid, return receipt
required addressed (until another address is filed in writing with the Corporation) as follows: 
  
 UMB Bank, N.A., as Rights Agent 
 Attn: Corporate Trust 
 2401 Grand Blvd. 
 Kansas City, Missouri 64141-6692 
  
 Notices or demands authorized by this Agreement to be given or made by the Corporation or the Rights Agent to the holder of any Right
Certificate or, if prior to the Distribution Date, to the holder of certificates representing Common Shares shall be sufficiently given or made if sent by first-class mail, postage prepaid, addressed to such holder at the address of such holder as
shown on the registry books of the Corporation. 
  
 Section 27.    Supplements and
Amendments. Prior to the Distribution Date, the Corporation and the Rights Agent shall, if the Corporation so directs, supplement or amend any provision of this Agreement without the approval of any holders of certificates representing Common
Shares. From and after the Distribution Date, the Corporation and the Rights Agent shall, if the Corporation so directs, supplement or amend this Agreement without the approval of any holders of Right Certificates in order (i) to cure any ambiguity,
(ii) to correct or supplement any provision contained herein which may be defective or inconsistent with any other provisions herein, (iii) to shorten or lengthen any time period hereunder or (iv) to change or supplement the provisions hereunder in
any manner which the Corporation may deem necessary or desirable and which shall not adversely affect the interests of the holders of Right Certificates (other than an Acquiring Person or an Affiliate or Associate of an Acquiring Person); provided,
however, that this Agreement may not be supplemented or amended to lengthen, pursuant to clause (iii) of this sentence, (A) a time period relating to when the Rights may be redeemed at such time as the Rights are not then redeemable, or (B) any
other time period unless such lengthening is for the purpose of protecting, enhancing or clarifying the rights of, and/or the benefits to, the holders of Rights. Upon the delivery of a certificate from an appropriate officer of the Corporation which
states that the proposed supplement or amendment is in compliance with the terms of this Section 27, the Rights Agent shall execute such supplement or amendment, provided that such supplement or amendment does not adversely affect the rights or
obligations of the Rights Agent under Section 18 or Section 20 of this Agreement. Prior to the Distribution Date, the interests of the holders of Rights shall be deemed coincident with the interests of the holders of Common Shares. 

 
 -31- 

  
 Section 28.    Determination and Actions by the Board of
Directors, etc.  The Board of Directors of the Corporation shall have the exclusive power and authority to administer this Agreement and to exercise all rights and powers specifically granted to the Board, or the Corporation, or as may
be necessary or advisable in the administration of this Agreement, including, without limitation, the right and power to (i) interpret the provisions of this Agreement, and (ii) make all determinations deemed necessary or advisable for the
administration of this Agreement (including, without limitation, a determination to redeem or not redeem the Rights or to amend the Agreement and whether any proposed amendment adversely affects the interests of the holders of Right Certificates).
For all purposes of this Agreement, any calculation of the number of Common Shares or other securities outstanding at any particular time, including for purposes of determining the particular percentage of such outstanding Common Shares or any other
securities of which any Person is the Beneficial Owner, shall be made in accordance with the last sentence of Rule 13d-3(d)(1)(i) of the General Rules and Regulations under the Exchange Act as in effect on the date of this Agreement. All such
actions, calculations, interpretations and determinations (including, for purposes of clause (y) below, all omissions with respect to the foregoing) which are done or made by the Board in good faith, shall (x) be final, conclusive and binding on the
Corporation, the Rights Agent, the holders of the Right Certificates and all other parties, and (y) not subject the Board to any liability to the holders of the Right Certificates. 
  
 Section 29.    Successors.  All the covenants and provisions of this Agreement by or for the benefit of the Corporation or the Rights
Agent shall bind and inure to the benefit of their respective successors and assigns hereunder. 
  
 Section
30.    Benefits of this Agreement.  Nothing in this Agreement shall be construed to give to any person or corporation other than the Corporation, the Rights Agent and the registered holders of the Right
Certificates (and, prior to the Distribution Date, the Common Shares) any legal or equitable right, remedy or claim under this Agreement; but this Agreement shall be for the sole and exclusive benefit of the Corporation, the Rights Agent and the
registered holders of the Right Certificates (and, prior to the Distribution Date, the Common Shares). 
  
 Section
31.    Severability.  If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the
terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
  
 Section 32.    Governing Law.  This Agreement, each Right and each Right Certificate issued hereunder shall be deemed to be a contract made under the laws of the
State of Oklahoma and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State, except for Sections 18, 19, 20 and 21 hereof and
relating to the rights, duties and obligations of the Rights Agent, which shall be governed by the laws of the State of Missouri, without reference to its choice of law rules. 

 
 -32- 

  
 Section 33.    Counterparts.  This Agreement
may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

 
 -33- 

  
 Section 34.    Descriptive
Headings.  Descriptive headings of the several Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and attested, all as of the date and year first
above written. 
  
 
	 ONEOK, Inc.
 
	  	 	  
	 By:
 	 	  
	 
	  	 	 

	  	 	 Name:
 
	  	 	 Title:
 

 
  
 
	 
	 UMB Bank, N.A., as Rights Agent
 
	  	 	  
	 By:
 	 	  
	 
	  	 	 

	  	 	 Name:
 
	  	 	 Title:
 

 

 
 -34- 

  
 Exhibit A 
  
 Form of Right Certificate 
  

	Certificate No. R– 
 	Rights 
 

 
 Not exercisable after [                    , 2013], or earlier if redeemed by the corporation. The rights are subject to
redemption at $.01 per right on the terms set forth in the rights agreement. 
  
 Under certain
circumstances set forth in the rights agreement, rights issued to, or held by, any person who is, was or becomes an acquiring person or an affiliate or associate thereof (as defined in the rights agreement) and certain related persons, whether
currently held by or on behalf of such person or by any subsequent holder, shall become null and void. 
  
 RIGHT
CERTIFICATE 
  
 ONEOK, Inc. 
  
 This certifies that
                                    , or registered assigns, is the
registered owner of the number of Rights set forth above, each of which entitles the owner thereof, subject to the terms, provisions and conditions of the Amended and Restated Rights Agreement, dated as of
                    , 2003 (the “Rights Agreement”), between ONEOK, Inc., an Oklahoma corporation (the “Corporation”), and
UMB Bank, N.A. (the “Rights Agent”), to purchase from the Corporation at any time after the Distribution Date (as such term is defined in the Rights Agreement) and prior to 5:00 P.M., New York City time, on
[                    , 2013], unless the Rights evidenced hereby shall have been previously redeemed by the Corporation, at the principal
office or offices of the Rights Agent designated for such purpose, or at the office of its successor as Rights Agent, one one-hundredth of a fully paid non-assessable share of Series C Participating Preferred Stock, par value $0.01 per share (the
“Preferred Shares”), of the Corporation, at a purchase price of $40.00 per one one-hundredth of a Preferred Share (the “Purchase Price”), upon presentation and surrender of this Right Certificate with the Form of Election to
Purchase duly executed. The number of Rights evidenced by this Right Certificate (and the number of one one-hundredths of a Preferred Share which may be purchased upon exercise hereof) set forth above, and the Purchase Price set forth above, are the
number and Purchase Price as of                         , 2003 based on the Preferred Shares as constituted at such date.

  
 Upon the occurrence of a Section 11(a)(ii) Event (as such term is defined in the Rights Agreement), if the Rights
evidenced by this Right Certificate are beneficially owned by (i) an Acquiring Person or an Affiliate or Associate of any such Acquiring Person (as such terms are defined in the Rights Agreement), (ii) a transferee of any such Acquiring Person,
Associate or Affiliate who becomes a transferee after the Acquiring Person becomes such, or (iii) under certain circumstances specified in the Rights Agreement, a transferee of any such Acquiring Person, Associate or Affiliate who becomes a
transferee prior to or concurrently with the Acquiring Person becoming such, such Rights shall become null and void and no holder hereof shall have any right with respect to such Rights from and after the occurrence of such Section 11(a)(ii) Event.

  
 As provided in the Rights Agreement, the Purchase Price and the number of one
one-hundredths of a Preferred Share or other securities which may be purchased upon the exercise of the Rights evidenced by this Right Certificate are subject to modification and adjustment upon the happening of certain events, including Triggering
Events (as such term is defined in the Rights Agreement). 
  
 This Right Certificate is subject to all of the terms,
provisions and conditions of the Rights Agreement, which terms, provisions and conditions are hereby incorporated herein by reference and made a part hereof and to which Rights Agreement reference is hereby made for a full description of the rights,
limitations of rights, obligations, duties and immunities hereunder of the Rights Agent, the Corporation and the holders of the Right Certificates, which limitations of rights include the temporary suspension of the exercisability of such Rights
under the specific circumstances set forth in the Rights Agreement. Copies of the Rights Agreement are on file at the principal executive offices of the Corporation and the principal office or offices of the Rights Agent. 
  
 This Right Certificate, with or without other Right Certificates, upon surrender at the principal office of the Rights Agent, may be
exchanged for another Right Certificate or Right Certificates of like tenor and date evidencing Rights entitling the holder to purchase a like aggregate number of Preferred Shares or other securities as the Rights evidenced by the Right Certificate
or Right Certificates surrendered shall have entitled such holder to purchase. If this Right Certificate shall be exercised in part, the holder shall be entitled to receive upon surrender hereof another Right Certificate or Right Certificates for
the number of whole Rights not exercised. 
  
 Subject to the provisions of the Rights Agreement, the Rights evidenced
by this Certificate may be redeemed by the Corporation at a redemption price of $.01 per Right (subject to adjustment as provided in the Rights Agreement) payable in Common Shares or cash. 
  
 The Corporation shall not be required to issue fractions of Rights or to distribute Right Certificates which evidence fractional Rights. In lieu of such fractional Rights,
there shall be paid to the registered holders of the Right Certificates with regard to which such fractional Rights would otherwise be issuable, an amount in cash equal to the same fraction of the current market value of a whole Right as defined in
the Rights Agreement. 
  
 The Corporation will not be required to issue fractions of Preferred Shares (other than
fractions which are one one-hundredths or integral multiples of one one-hundredth of a Preferred Share) upon exercise of the Rights or to distribute certificates which evidence fractional Preferred Shares (other than fractions which are one
one-hundredths or integral multiples of one one-hundredth of a Preferred Share). In lieu of fractional Preferred Shares other than fractions that are multiples of one one-hundredth of a Share, the Corporation will pay to the registered holders of
Right Certificates at the time such Rights are exercised an amount in cash equal to the same fraction of the current market value of one Preferred Share as defined in the Rights Agreement. 
  
 No holder of this Right Certificate shall be entitled to vote or receive dividends or be deemed for any purpose the holder of the Preferred Shares or of any other
securities of the 

  
 Corporation which may at any time be issuable on the exercise hereof, nor shall anything contained in
the Rights Agreement or herein be construed to confer upon the holder hereof, as such, any of the rights of a stockholder of the Corporation or any right to vote for the election of directors or upon any matter submitted to stockholders at any
meeting thereof, or to give or withhold consent to any corporate action, or to receive notice of meetings or other actions affecting stockholders (except as provided in the Rights Agreement), or to receive dividends or other distributions or to
exercise any preemptive or subscription rights, or otherwise, until the Right or Rights evidenced by this Right Certificate shall have been exercised as provided in the Rights Agreement. 
  
 This Right Certificate shall not be valid or obligatory for any purpose until it shall have been countersigned by the Rights Agent. 
  
 WITNESS the signature of the proper officers of the Corporation and its corporate seal. Dated as of
                     , [2003]. 
  
 [SEAL] 
  
 
	 ATTEST:
 	 	  	 	 ONEOK, Inc.
 
	  	 	  	 	  	 	  	 	  
	 
	 By
 	 	  	 	  	 	 By
 	 	  
	  	 	 
	 	  	 	  	 	 

	  	 	 Name:
 	 	  	 	  	 	 Name:
 
	  	 	 Title:
 	 	  	 	  	 	 Title:
 

 
  
 
	 
	 Countersigned:
 	 	  
	  	 	  
	 UMB BANK, N.A.
 	 	  

 
  
 
	  	 	  	 	  
	 
	 By
 	 	  	 	  	 	  	 	  
	  	 	 
	 	  	 	  	 	  
	  	 	 Name:
 	 	  	 	  	 	  
	  	 	 Title:
 	 	  	 	  	 	  

 

  
 FORM OF REVERSE SIDE OF RIGHT CERTIFICATE 
  
 FORM OF ASSIGNMENT 
  
 (To be executed by the registered holder if such 
 holder desires to transfer the Right Certificate.) 
  
 FOR VALUE RECEIVED                                
                                        
                                        
                                        
                                
 hereby sells, assigns and transfers unto                          
                                        
                                        
                                        
               
                                      
                                        
                                        
                                        
                                        
                              
 (Please print name and address of transferee) 
                                      
                                        
                                        
                                        
                                        
                              
 this Right Certificate, together with all right, title and interest therein, and does hereby irrevocably constitute and appoint
                                     Attorney, to transfer the within
Right Certificate on the books of the within-named Corporation, with full power of substitution. 
  
 Dated:
        , 
  
 
	 
	  
 

	 Signature
 

 
  
 Signature Guaranteed: 
  
     Signatures must be guaranteed by a member firm of a registered national securities exchange, a member of the National Association of Securities
Dealers, Inc., or a commercial bank, savings association, credit union or trust company having an office or correspondent in the United States or other eligible guarantor institution which is a participant in a signature guarantee medallion program.

  
 --------------------------------------------------------------------------------------------------------------------------------------------------------- 
  
     The undersigned hereby certifies that (1) the Rights evidenced by this Right Certificate are not being sold, assigned or transferred by or on behalf
of a Person who is or was an Acquiring Person or an Affiliate or Associate thereof (as such terms are defined in the Rights Agreement) and (2) after due inquiry and to the best knowledge of the undersigned, the undersigned did not acquire the Rights
evidenced by this Right Certificate from any Person who is or was an Acquiring Person or an Affiliate or Associate thereof (as such terms are defined in the Rights Agreement). 
  
 
	 
	  
 

	 Signature
 

 

  
 FORM OF REVERSE SIDE OF RIGHT CERTIFICATE — CONTINUED 

 
 FORM OF ELECTION TO PURCHASE 
  
 (To be executed by the registered holder if such holder desires to exercise Rights represented by the Right Certificate.) 
  
 To the Rights Agent: 
  
 The undersigned hereby irrevocably elects to
exercise Rights represented by this Right Certificate to purchase the Preferred Shares, Common Shares or such other securities issuable upon the exercise of such Rights at this time as follows: 
  

Please Insert 
 Number of Rights To Be Exercised 

 
 (i)      Preferred Shares Exercise
                                        
     
  
 (ii)     Section 11(a)(ii) Exercise
                                        
     
  
 (iii)    Section 13 Exercise
                                        
                
  
 The undersigned
requests that certificates for such Preferred Shares, Common Shares or other securities be issued in the name of: 
  
 Please insert social
security 
 or other identifying number                              
                                        
                                        
                                        
                                        
               
  
                                      
                                        
                                        
                                        
                                        
                                        
                     
 (Please print name and address of
transferee) 
  
 --------------------------------------------------------------------------------------------------------------------------------------------------------- 
  
 If such number of Rights shall not be all the Rights evidenced by this Right Certificate, a new Right Certificate for the balance remaining of such Rights shall be registered in the name of and
delivered to: 
  
 Please insert social security 
 or other identifying number                              
                                        
                                        
                                        
                                        
               
  
                                      
                                        
                                        
                                        
                                        
                                        
                     
 (Please print name and address of
transferee) 
  
 --------------------------------------------------------------------------------------------------------------------------------------------------------- 
  
 Dated:                 , 20 
  
 
	 
	  
 

	 Signature
 

 

 Signature Guaranteed: 
  
 Signatures must be guaranteed by a member firm of a registered national securities exchange, a member of the National Association of Securities Dealers, Inc., or a commercial bank, savings association, credit union or trust company
having an office or correspondent in the United States or other eligible guarantor institution which is a participant in a signature guarantee medallion program. 
  
 The undersigned hereby certifies that (1) the Rights evidenced by this Right Certificate are not being exercised by or on behalf of a Person who is or was an Acquiring Person or an Affiliate or
Associate thereof (as such terms are defined in the Rights Agreement) and (2) after due inquiry and to the best knowledge of the undersigned, the undersigned did not acquire the Rights evidenced by this Rights Certificate from any Person who is or
was an Acquiring Person or an Affiliate or Associate thereof (as such terms are defined in the Rights Agreement). 
  
 
	 
	  
 

	 Signature
 

 
  
 --------------------------------------------------------------------------------------------------------------------------------------------------------- 
  
 NOTICE 
  
 The signature on the foregoing Forms of Assignment
and Election and certificates must conform to the name as written upon the face of this Right Certificate in every particular, without alteration or enlargement or any change whatsoever. 
  
 In the event the certification set forth above in the Form of Assignment or the Form of Election to Purchase, as the case may be, is not completed, the Corporation and the
Rights Agent will deem the Beneficial Owner of the Rights evidenced by this Right Certificate to be an Acquiring Person or an Affiliate or Associate thereof (as such terms are defined in the Rights Agreement) and such Assignment or Election to
Purchase will not be honored. 

 

 Exhibit B 
  
 Summary of Rights to Purchase Preferred Shares 
  
 Under certain circumstances set forth in
the rights agreement, rights issued to, or held by, any person who is, was or becomes an acquiring person or an affiliate or associate thereof (as defined in the rights agreement) and certain related persons, whether currently held by or on behalf
of such person or by any subsequent holder, shall become null and void. 
  
 On November 26, 1997, the Board of
Directors of ONEOK, Inc., an Oklahoma corporation (the “Corporation”), declared a dividend distribution of one preferred share purchase right (a “Right”) for each outstanding share of Common Stock, par value $0.01 per share (the
“Common Shares”), of the Corporation. The dividend is payable to the stockholders of record as of 5:00 P.M., Eastern Standard Time, on November 26, 1997 (the “Record Date”), and with respect to Common Shares issued thereafter
until the Distribution Date (as defined below) and, in certain circumstances, with respect to Common Shares issued after the Distribution Date. Except as set forth below, each Right, when it becomes exercisable, entitles the registered holder to
purchase from the Corporation one one-hundredth of a share of Series C Participating Preferred Stock, par value $0.01 per share (the “Preferred Shares”) at a price of $80.00 per one one-hundredth of a Preferred Share (the “Purchase
Price”), subject to adjustment. The description and terms of the Rights are set forth in an Amended and Restated Rights Agreement, dated as of
                , 2003 (the “Rights Agreement”), between the Corporation and UMB Bank, N.A. (the “Rights Agent”). 
  
 Initially, the Rights will be attached to all certificates representing Common Shares then outstanding, and no separate Right Certificates
(as hereinafter defined) will be distributed. The Rights will separate from the Common Shares on the earliest to occur of (i) the first date of public announcement that a person or “group” has acquired beneficial ownership of 15% or more
of the outstanding Common Shares (except pursuant to a Permitted Offer, as hereinafter defined); or (ii) 10 business days (or such later date as the Board may determine) following the commencement of, or announcement of an intention to commence, a
tender offer or exchange offer the consummation of which would result in a person or group becoming an Acquiring Person (as hereinafter defined) (the earliest of such dates being called the “Distribution Date”). A person or group whose
acquisition of Common Shares causes a Distribution Date pursuant to clause (i) above is an “Acquiring Person.” The first date of public announcement that a person or group has become an Acquiring Person is the “Shares Acquisition
Date.” “Disinterested Directors” are directors who are not officers of the Corporation and who are not Acquiring Persons or their affiliates, associates or representatives of any of them, or any Person who directly or indirectly
proposed or nominated as a director of the Corporation by a Transaction Person (as defined below). 
  
 Notwithstanding the foregoing, an Acquiring Person does not include (i) Westar Energy, Inc. and Westar Industries, Inc., but only with respect to Common Shares beneficially owned by them as of the date of the Amended and Restated
Rights Agreement, less any Common Shares beneficially owned by them that are transferred or sold after the date of the Amended and Restated Rights Agreement. 

 

  
 The Rights Agreement provides that, until the Distribution Date, the Rights will
be transferred with and only with the Common Shares. Until the Distribution Date (or earlier redemption or expiration of the Rights) new Common Share certificates issued after the Record Date upon transfer or new issuance of Common Shares will
contain a notation incorporating the Rights Agreement by reference. Until the Distribution Date (or earlier redemption or expiration of the Rights), the surrender for transfer of any certificates for Common Shares outstanding as of the Record Date,
even without such notation or a copy of this Summary of Rights being attached thereto, will also constitute the transfer of the Rights associated with the Common Shares represented by such certificate. As soon as practicable following the
Distribution Date, separate certificates evidencing the Rights (“Right Certificates”) will be mailed to holders of record of the Common Shares as of the close of business on the Distribution Date (and to each initial record holder of
certain Common Shares issued after the Distribution Date), and such separate Right Certificates alone will evidence the Rights. 
  
 The Rights are not exercisable until the Distribution Date and will expire at 5:00 P.M., New York City time, on,
[                    , 2013], unless earlier redeemed by the Corporation as described below. 
  
 In the event that any person becomes an Acquiring Person (except pursuant to a Permitted Offer as defined below), each holder of a Right
will have (subject to the terms of the Rights Agreement) the right (the “Flip-In Right”) to receive upon exercise the number of Common Shares, or, in the discretion of the Board of Directors, of one one-hundredth of a Preferred Share (or,
in certain circumstances, other securities of the Corporation) having a value (immediately prior to such triggering event) equal to two times the exercise price of the Right. Notwithstanding the foregoing, following the occurrence of the event
described above, all Rights that are, or (under certain circumstances specified in the Rights Agreement) were, beneficially owned by any Acquiring Person or any affiliate or associate thereof will be null and void. A “Permitted Offer” is a
tender or exchange offer for all outstanding Common Shares which is at a price and on terms determined, prior to the purchase of shares under such tender or exchange offer, by a Majority of Disinterested Directors to be adequate (taking into account
all factors that such Disinterested Directors deem relevant) and otherwise in the best interests of the Corporation, its stockholders and its other relevant constituencies (other than the person or any affiliate or associate thereof on whose basis
the offer is being made) taking into account all factors that such directors may deem relevant and (ii) any tender or exchange offer required or permitted to be made by the Shareholder Group (as defined in the Shareholder Agreement) pursuant to, and
in accordance with, the Shareholder Agreement). 
  
 In the event that, at any time following the Shares Acquisition
Date, (i) the Corporation is acquired in a merger or other business combination transaction in which the holders of all of the outstanding Common Shares immediately prior to the consummation of the transaction are not the holders of all of the
surviving corporation’s voting power, or (ii) more than 50% of the Corporation’s assets or earning power is sold or transferred, in either case with or to an Acquiring Person or any affiliate or associate or any other person in which such
Acquiring Person, affiliate or associate has an interest or any person acting on behalf of or in concert with such Acquiring Person, affiliate or associate, or, if in such transaction all holders of Common Shares are not treated alike, any other
person, then each holder of a Right (except Rights which previously have been voided as set forth above) shall thereafter have the right (the 

 “Flip-Over Right”) to receive, upon exercise, common shares of the acquiring company having a value equal to two times the exercise
price of the Right. 
  
 The Purchase Price payable, and the number of one-hundredths of a Preferred Share or other
securities issuable, upon exercise of the Rights are subject to adjustment from time to time to prevent dilution (i) in the event of a stock dividend on, or a subdivision, combination or reclassification of, the Preferred Shares, (ii) upon the grant
to holders of the Preferred Shares of certain rights or warrants to subscribe for or purchase Preferred Shares at a price, or securities convertible into Preferred Shares with a conversion price, less than the then current market price of the
Preferred Shares or (iii) upon the distribution to holders of the Preferred Shares of evidences of indebtedness or assets (excluding regular quarterly cash dividends) or of subscription rights or warrants (other than those referred to above).

  
 The Purchase Price is also subject to adjustment in the event of a stock split of the Common Shares or a stock
dividend on the Common Shares payable in Common Shares or subdivisions, consolidations or combinations of the Common Shares occurring, in any such case, prior to the Distribution Date. 
  
 With certain exceptions, no adjustment in the Purchase Price will be required until cumulative adjustments require an adjustment of at least 1% in such Purchase Price. No
fractional one-hundredths of a Preferred Share will be issued and in lieu thereof, an adjustment in cash will be made based on the market price of the Preferred Shares on the last trading day price to the date of exercise. 
  
 Preferred Shares purchasable upon exercise of the Rights will not be redeemable. Each Preferred Share will be entitled to a minimum
preferential quarterly dividend payment of $1.00 per share but, if greater, will be entitled to an aggregate dividend per share of 100 times the dividend declared per Common Share. In the event of liquidation, the holders of the Preferred Shares
will be entitled to a minimum preferential liquidation payment of $1.00 per share; thereafter, and after the holders of the Common Shares receive a liquidation payment of $0.01 per share, the holders of the Preferred Shares and the holders of the
Common Shares will share the remaining assets in the ratio of one hundred to 1 (as adjusted) for each Preferred Share and Common Share so held, respectively. Finally, in the event of any merger, consolidation or other transaction in which Common
Shares are exchanged, each Preferred Share will be entitled to receive one hundred times the amount received per Common Share. These rights are protected by customary antidilution provisions. In the event that the amount of accrued and unpaid
dividends on the Preferred Shares is equivalent to at least six full quarterly dividends, the holders of the Preferred Shares shall have the right, voting as a class, to elect two directors in addition to the directors elected by the holders of the
Common Shares until all cumulative dividends on the Preferred Shares have been paid through the last quarterly dividend payment date or until non-cumulative dividends have been paid regularly for at least one year. 
  
 At any time prior to the earlier to occur of (i) a person becoming an Acquiring Person or (ii) the expiration of the Rights, the
Corporation may redeem the rights in whole, but not in part, at a price of $0.01 per Right (the “Redemption Price”), which redemption shall be effective upon the action of the Board of Directors. Additionally, the Corporation may redeem
the then outstanding Rights in whole but not in part, at the Redemption Price after the triggering 

 of the Flip-in Right and before the expiration of any period during which the Flip-in Right may be exercised in connection with a merger or
other business combination transaction or series of transactions involving the Corporation in which all holders of Common Shares are treated alike but not involving a Transaction Person (as defined below). Upon the effective date of the redemption
of the Rights, the right to exercise the Rights will terminate and the only right of the holders of Rights will be to receive the Redemption Price. 
  
 Until a Right is exercised, the holder thereof, as such, will have no rights as a stockholder of the Corporation, including, without limitation, the right to vote or to receive dividends. While the
distribution of the Rights will not be taxable to stockholders of the Corporation, stockholders may, depending upon the circumstances, recognize taxable income should the Rights become exercisable or upon the occurrence of certain events thereafter.Purchase Agreement for John Wiley Indianapolis Bld

  
 EXHIBIT 10.9 
  
 PURCHASE AGREEMENT FOR THE JOHN WILEY INDIANAPOLIS BUILDING 

  
 AGREEMENT FOR THE PURCHASE AND SALE OF PROPERTY 
  
 THIS AGREEMENT FOR THE PURCHASE AND SALE OF PROPERTY (the “Agreement”), is made and entered into as of the 10th day of
December, 2002, by and between CROSSPOINT SEVEN, LLC, an Indiana limited liability company (“Seller”) and WELLS FUND XIII-REIT JOINT VENTURE PARTNERSHIP, a Georgia general partnership (“Purchaser”). 

 
 WITNESSETH: 
  
 WHEREAS, Seller desires to sell the Property (as hereinafter defined) to Purchaser and Purchaser desires to acquire the Property from Seller, subject to the terms and conditions hereinafter set forth. 

 
 NOW, THEREFORE, for and in consideration of the premises, the mutual agreements contained herein, the sum of Ten Dollars
($10.00) in hand paid by Purchaser to Seller at and before the sealing and delivery of these presents and for other good and valuable consideration, the receipt, adequacy, and sufficiency which are hereby expressly acknowledged by the parties
hereto, the parties hereto do hereby covenant and agree as follows: 
  
 1.    Purchase and
Sale of Property.  Subject to and in accordance with the terms and provisions of this Agreement, Seller hereby agrees to sell to Purchaser and Purchaser hereby agrees to purchase from Seller, the Property, which term
“Property” shall mean and include the following: 
  
 (a)  all that tract or
parcel of land (the “Land”) located in Indianapolis, Hamilton County, Indiana containing approximately 10.28 acres, having an address of 10475 Crosspoint Boulevard, known as “Crosspoint Plaza One” and being more particularly
described on Exhibit “A” hereto; and 
  
 (b)  all rights, privileges, and
easements running to Seller and appurtenant to the Land, including all water rights, mineral rights, reversions, or other appurtenances to said Land, and all right, title, and interest of Seller, if any, in and to any land lying in the bed of any
street, road, alley, or right-of-way, open or proposed, adjacent to or abutting the Land; and 
  
 (c)  Seller’s right, title and interest in and to any buildings, structures, and improvements situated on the Land, including, without limitation, (i) that certain four-story office building containing approximately
141,047 square feet of leasable space along with related parking areas containing approximately 758 parking spaces, (ii) all other amenities located on the Land, and (iii) all apparatus, built-in appliances, equipment, pumps, machinery, plumbing,
heating, air conditioning, electrical and other fixtures located on the Land (all of which are herein collectively referred to as the “Improvements”); and 
  
 (d)  Seller’s right, title and interest in and to any personal property now owned by Seller and located on or to be located on or in, or used
in connection with, the Land and Improvements (“Personal Property”); and 
  
 (e)  all of Seller’s right, title, and interest, as landlord or lessor, in and to: 
  
 (i)  that certain Office Lease (the “John Wiley Lease”) with Hungry Minds, Inc. and John Wiley & Sons, Inc. (collectively, “John Wiley”) dated November 4, 1998 ; 
  
 (ii)  that certain Office Lease (the “Robert Half Lease”) with Robert Half International Inc.
(“Robert Half”) dated December 13, 1999; and 
  
 (iii)  that certain Office Lease
(the “USA Funds Lease”) with United Student Aid Funds, Inc. (“USA Funds”) dated October 31, 2000 
  
 (the John Wiley Lease, the Robert Half Lease and the USA Funds Lease are herein individually and collectively referred to as the “Lease”; John Wiley, Robert Half and USA Funds are herein individually and collectively
referred to as the “Tenant”); and 
  
 (f)  all of Seller’s right, title, and
interest in and to the plans and specifications with respect to the Improvements and any guarantees, trademarks, rights of copyright, warranties, or other rights related to the ownership of or use and operation of the Land, Personal Property, or
Improvements, all governmental licenses and permits, and all intangibles associated with the Land, Personal Property, and Improvements, including the name of the Improvements and the logo therefor, if any; and 
  
 (g)  all of Seller’s right, title and interest in and to the contracts, if any, described on Exhibit
“B” hereto (the “Contracts”), to the extent the same survive Closing or require performance after Closing. 

  
 2.    Not Used. 
  
 3.    Earnest Money and Purchase Price. 
  
 A.    Within two (2) business days after the full execution of this Agreement, Purchaser shall deliver to Chicago Title Insurance Company (“Escrow
Agent”), whose offices are at 101 West Ohio Street, Suite 1100, Indianapolis, Indiana 46204, Purchaser’s check, payable to Escrow Agent, in the amount of $500,000.00 (the “Earnest Money”), which Earnest Money shall be held
and disbursed by Escrow Agent in accordance with this Agreement. The Earnest Money shall be paid by Escrow Agent to Seller at Closing (as hereinafter defined) and shall be applied as a credit to the Purchase Price (as hereinafter defined), or shall
otherwise be paid to Seller or refunded to Purchaser in accordance with the terms of this Agreement. All interest and other income from time to time earned on the Earnest Money shall belong to the party entitled to receive the Earnest Money.

  
 B.    Subject to adjustment and credits as otherwise specified in this Agreement, the
purchase price (the “Purchase Price”) to be paid by Purchaser to Seller for the Property shall be SEVENTEEN MILLION FOUR HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($17,450,000.00). The Purchase Price shall be paid by Purchaser to
Seller at the Closing (as hereinafter defined) by cashier’s check or by wire transfer of immediately available federal funds, less the amount of Earnest Money and subject to prorations, adjustments and credits as otherwise specified in this
Agreement. 
  
 4.    Purchaser’s Inspection and Review
Rights.    Subject to the rights of the Tenant, Purchaser and its agents, engineers, or representatives, with Seller’s reasonable, good faith cooperation, shall have the privilege of going upon the Property as needed to
inspect, examine, test, and survey the Property at all reasonable times and from time to time. Purchaser hereby agrees to indemnify and hold Seller harmless from any liens, claims, liabilities, and damages incurred through the exercise of such
privilege, and Purchaser further agrees to repair any damage to the Property caused by the exercise of such privilege. At all reasonable times prior to the Closing (as hereinafter defined), Seller shall make available to Purchaser, or
Purchaser’s agents and representatives, for review and copying, all books, records, and files in Seller’s possession relating to the ownership and operation of the Property, including, without limitation, title matters, surveys, tenant
files, service and maintenance agreements, and other contracts, books, records, operating statements, and other information relating to the Property. Seller further agrees to in good faith assist and cooperate with Purchaser in coming to a thorough
understanding of the books, records, and files relating to the Property. Seller further agrees to provide to Purchaser prior to the date which is five (5) business days after the effective date of this Agreement, to the extent the same are in the
possession of or under the control of Seller, a copy of the approved site plan for the Property, the most current boundary and “as-built” surveys of the Land and Improvements and any title insurance policies, appraisals, building
inspection reports, environmental reports, certificates of occupancy, building permits, zoning letters, and instruments reflecting the approval of any association governing the Property relating thereto. At no cost or liability to Seller, Seller
shall cooperate with Purchaser, its counsel, accountants, agents, and representatives, provide them with access to Seller’s books and records with respect to the ownership, management, maintenance, and operation of the Property for the
applicable period, and permit them to copy the same. At no cost to Purchaser, Seller shall use commercially reasonable efforts to cause the authors of appraisal, environmental and building inspection reports to issue reliance letters addressed to
Purchaser and Purchaser’s lender, if any, in form and substance reasonably acceptable to Purchaser, at least 15 days prior to the expiration of the Inspection Period. Seller acknowledges that Purchaser may be required by the Securities and
Exchange Commission to file audited financial statements for one to three years with regard to the Property. At no cost or liability to Seller, Seller shall (i) cooperate with Purchaser, its counsel, accountants, agents, and representatives, provide
them with access to Seller’s books and records with respect to the ownership, management, maintenance, and operation of the Property for the applicable period, and permit them to copy the same, (ii) execute a form of “rep” letter in
form and substance reasonably satisfactory to Seller, and (iii) furnish Purchaser with such additional information concerning the same as Purchaser shall reasonably request. Purchaser will pay the costs associated with any such audit. 

 
 5.    Special Condition to Closing.    Purchaser shall have until December 31,
2002 (the “Inspection Period”) to make investigations, examinations, inspections, market studies, feasibility studies, lease reviews, and tests relating to the Property and the operation thereof in order to determine, in Purchaser’s
sole opinion and discretion, the suitability of the Property for acquisition by Purchaser. Purchaser shall have the right to terminate this Agreement at any time prior to the expiration of the Inspection Period by giving written notice to Seller of
such election to terminate. In the event Purchaser so elects to terminate this Agreement, Seller shall be entitled to receive and retain the sum of Twenty-Five Dollars ($25.00) of the Earnest Money, and the balance of the Earnest Money shall be
promptly refunded by Escrow Agent to Purchaser, whereupon, except as expressly provided to the contrary in this Agreement, no party hereto shall have any other or further rights or obligations under this Agreement. Seller acknowledges that the sum
of $25.00 is good and adequate consideration for the termination rights granted to 

  
 Purchaser hereunder. In the event Purchaser does not give timely notice of its election to terminate
this Agreement and Seller performs all of its obligations hereunder, the Earnest Money shall not be refundable to Purchaser except as a credit against the Purchase Price at Closing or as otherwise provided herein. 
  
 6.    General Conditions Precedent to Purchaser’s Obligations Regarding the
Closing.    In addition to the conditions to Purchaser’s obligations set forth in Paragraph 5 above, the obligations and liabilities of Purchaser hereunder shall in all respects be conditioned upon the satisfaction of
each of the following conditions, any of which may be waived by written notice from Purchaser to Seller: 
  
 (a)  Seller shall have complied in all material respects with and otherwise performed in all material respects each of the covenants and obligations of Seller set forth in this Agreement, as of the date of Closing (as
hereinafter defined). 
  
 (b)  All representations and warranties of Seller as set forth in
this Agreement shall be true and correct in all material respects as of the date of Closing. 
  
 (c)  The Title Company (as hereinafter defined) shall have issued the Title Commitment (as hereinafter defined) on the Land and Improvements without exceptions other than as described in paragraph 7 and the Title Company
shall be prepared to issue to Purchaser upon the Closing a fee simple owner’s title insurance policy on the Land and Improvements pursuant to such Title Commitment. 
  
 (d)  There shall not have occurred and be continuing at the date and time scheduled for Closing any material adverse change in the physical,
financial or legal conditions of the Property from the conditions thereof on the expiration of the Inspection Period, ordinary and reasonable wear and tear and casualty and condemnation described in Paragraphs 17 and 18 excepted. 

 
 (e)  Purchaser shall have received the Tenant Estoppel Certificates referred to in Paragraph 9(c)
hereof, duly executed by the Tenants (as hereinafter defined) at least five (5) days prior to the Closing which do not reveal any material, adverse information and are otherwise reasonably acceptable to Purchaser consistent with the terms and
conditions of this Agreement. 
  
 (f)  Not Used. 
  
 (g)  Not used. 
  
 (h)  The Tenants shall be in possession of the premises of each under the Leases for the ordinary conduct of business, and rent shall have
commenced under each Lease. 
  
 (i)  At least ten (10) days prior to the Closing, Purchaser
shall have received an updated as-built survey (“As built Survey”) showing the completion of the Improvements and showing no matters which are not Permitted Title Exceptions, which survey shall be made in compliance with the “Minimum
Standard Detail Requirements for Land Title Surveys” established by the ALTA/ACSM and NSPS for Land Title Surveys, including all items on Table A thereof, except items 5, 12 and 14, and currently in effect. The As-built Survey shall disclose no
encroachments or improvements from or upon adjoining properties, shall show the availability of all utility services at the perimeter of the Land, and shall otherwise be in form and content sufficient to enable the Title Company to issue its
standard form of survey modification endorsement modifying the general exception for matters of survey. 
  
 (j)  Seller shall have delivered each of the closing documents required to be delivered pursuant to Section 11 below. 
  
 (k)  Except as set forth in the next sentence, Seller shall terminate as of the Closing any existing management agreements (including, but not limited to, any management agreement with Lauth
Property Group, Inc. f/k/a Eaton & Lauth Real Estate Services, Inc.) and any leasing agreements with respect to the Property. Seller shall obtain from Lauth Property Group, Inc. on or prior to Closing written confirmation that no commissions are
payable to Lauth Property Group, Inc. post-Closing. Seller shall obtain from CB Richard Ellis on or prior to Closing written confirmation that the only outstanding commission payable to CB Richard Ellis by Purchaser post-Closing (the “Ongoing
CB Commission”) is a commission of $48,239.03 on the expansion of John Wiley on or about November 1, 2005 pursuant to the John Wiley Lease and that no other commissions will be binding on Purchaser or Purchaser’s successors and assigns
post-Closing. Seller is responsible for paying any termination fee associated with terminating the aforesaid management agreement or leasing agreement. 

  
 (l)  Seller shall pay out any tenant improvement
allowances owing under the Leases, except that: (i) Purchaser shall, on the condition that Purchaser receives a credit to the Purchase Price as set forth in Section 14 below, be responsible for payment of John Wiley’s tenant improvement
allowance balance of up to $63,180.00 in connection with John Wiley’s recent expansion onto the second floor of the Improvements to the extent such balance is not requested by and paid to John Wiley prior to Closing (the “Ongoing TI
Allowance”), and (ii) Purchaser shall be responsible for payment of the $62,048 tenant improvement allowance pursuant to the John Wiley Lease on the expansion of John Wiley on or about November 1, 2005 pursuant to the John Wiley Lease (the
“Expansion TI Allowance”). 
  
 (m)  Each Tenant will have accepted its leased
premises located within the Property, including any and all work performed therein or thereon pursuant to the Lease, each Tenant will be in full and complete possession of its leased premises under the Leases, and Seller will not have received
notice from either Tenant that such Tenant’s leased premises are not in full compliance with the terms and provisions of such Tenant’s Lease or are not satisfactory for such Tenant’s purposes. 
  
 In the event that on the Closing (or the date scheduled above if earlier than the Closing) any of the foregoing conditions have not been
satisfied, then Purchaser shall have the right, at Purchaser’s option, by notice to Seller, to terminate this Agreement, and, in such event, neither party shall have any further rights, obligations or liabilities hereunder except to the extent
that any right, obligation or liability set forth herein expressly survives termination of this Agreement. In the event Purchaser so elects to terminate this Agreement, Seller shall be entitled to receive and retain the sum of Twenty-Five Dollars
($25.00) of the Earnest Money, and the balance of the Earnest Money shall be promptly refunded by Escrow Agent to Purchaser. Seller acknowledges that the sum of $25.00 is good and adequate consideration for the termination rights granted to
Purchaser hereunder. If at the time of such failed condition, Seller’s is also default hereunder, Purchaser shall have the remedies set forth in Section 16 below. 
  
 7.    Title and Survey.    Purchaser covenants and agrees that Purchaser shall, on or before five (5) business days after the
Effective Date of this Agreement, cause Chicago Title Insurance Company, or such other such title insurance company acceptable to Purchaser (herein referred to as the “Title Company”), to deliver to Purchaser its commitment (herein
referred to as the “Title Commitment”) to issue to Purchaser, upon the recording of the Deed conveying title to the Property from Seller to Purchaser, the payment of the Purchase Price, and the payment to the Title Company of the policy
premium therefor, an owner’s policy of title insurance, in the amount of the Purchase Price, insuring good and marketable fee simple record title to the Property to be in Purchaser subject only to the Permitted Exceptions (as hereinafter
defined), with affirmative coverage over any mechanic’s, materialman’s and subcontractor’s liens and with full extended coverage over all general exceptions, and containing the following endorsements to the extent the same are
available in the State of Indiana: comprehensive, zoning, covenants and restrictions, survey, contiguity, utilities facility and access. Such Title Commitment shall not contain any exception for rights of parties in possession other than an
exception for the right of the Tenant (as hereinafter defined) under the Lease. If the Title Commitment shall contain an exception for the state of facts which would be disclosed by a survey of the Property or an “area and boundaries”
exception, the Title Commitment shall provide that such exception will be deleted upon the presentation of the As-built Survey (as hereinafter defined) to Title Company, in which case the Title Commitment shall be amended to contain an exception
only for the matters shown on the As-built Survey. 
  
 Seller has ordered an update of the Survey of the Land and the
Improvements meeting the standards of Paragraph 6(i) above and dated not more than thirty (30) days prior to the Effective Date of this Agreement certified to Purchaser, Purchaser’s lender, if any, and to the Title Company showing the
boundaries and the legal description of the Land and showing the Improvements completed and will deliver a copy to Purchaser promptly after it has been received by Seller. 
  
 Purchaser, upon receipt of the Title Commitment, the copies of the documents and instruments referred to therein and the As-built Survey, shall then have until the end of
the Inspection Period during which to examine the same, after which Purchaser shall notify Seller in writing (the “Objection Notice”) of any defects or objections. In the event the Objection Notice is not timely delivered to Seller, then
except for matters arising subsequent to the effective date of the Title Commitment and/or the effective date of the Survey and except for monetary liens arising by, through or under Seller, Purchaser shall be deemed to have waived all other
objections and such matters which are not objected to in the Objection Notice shall be deemed a “Permitted Exception.” Within five (5) days after Seller’s receipt of the Objection Notice, Seller shall deliver to Purchaser a written
notice (the “Response Notice”) indicating whether Purchaser elects to cure the objections identified in the Objection Notice, except that in all events Seller shall be required to cure monetary liens arising by, through or under Seller in
one of the following four ways (collectively, the “Four Cures”): (1) pay off the lien and have it extinguished; or (2) provide surety for or cause to be 

  
 bonded off each such lien; or (3) cause the Title Company to insure over the lien; or (4) such other
means as is reasonably acceptable to Seller, the Title Company and Purchaser. In the event Seller elects in the Response Notice not to cure any of Purchaser’s objections in the Objection Notice, Purchaser may elect to terminate this Agreement
and receive the Earnest Money by delivery within three (3) days after Purchaser’s receipt of the Response Notice, of a written notice of termination (the “Election Notice”). In the event Purchaser fails to timely elect to terminate
this Agreement through the delivery of an Election Notice, Purchaser shall be deemed to elect not to terminate this Agreement pursuant to this Paragraph 7, provided that in all events, Seller shall cure monetary liens arising by, through or under
Seller in one of the Four Cures. “Permitted Exceptions” shall mean any matters which are deemed to be Permitted Exceptions to the terms hereof and shall include: (i) acts of Purchaser, and those claiming by, through and under Purchaser,
(ii) general and special taxes and assessments not yet due and payable, (iii) rights of Tenant under the Lease as tenants only, and (iii) zoning, building and other governmental and quasi-governmental laws, codes and regulations. 

 
 Whether or not Purchaser shall have furnished to Seller any notice of defects in title or survey pursuant to the foregoing
provisions of this Agreement, Purchaser may at or prior to Closing further notify Seller in writing of any defects in title or survey arising between the effective date of Purchaser’s Title Commitment and/or the most recent survey delivered to
Purchaser during the Inspection Period and the Closing. With respect to any defects in title or survey set forth in such further notice, Purchaser shall have the same rights as those which apply to any notice of defects in title resulting from a
notice of title defects by Purchaser on or before the deadline for Purchaser’s Objection Notice. 
  
 8.    Representations and Warranties of Seller.    Seller hereby makes the following representations and warranties to Purchaser, each of which shall be deemed material: 

 
 (a)  Lease.    Attached hereto as Exhibit “C” are true
and accurate copies of the Leases, which are the only leases in effect relating to the Property, together with all modifications and amendments to such Leases. Seller is the “landlord” under the Leases and owns unencumbered legal and
beneficial title to the Leases and the rents and other income thereunder, subject only to the collateral assignment of the Leases and the rents thereunder in favor of the holder of an existing mortgage or deed of trust encumbering the Property,
which mortgage or deed of trust shall be cancelled and satisfied by Seller at the Closing. The term of the John Wiley Lease commenced on November 1, 1999 and will expire on October 31, 2009, subject to any rights provided in the John Wiley Lease for
John Wiley to extend the term thereof. The term of the Robert Half Lease commenced on April 17, 2000 and will expire on April 30, 2005, subject to any rights provided in the Robert Half Lease for Robert Half to extend the term thereof. The term of
the USA Funds Lease commenced on February 9, 2001 and will expire on July 31, 2005, subject to any rights provided in the USA Funds Lease for USA Funds to extend the term thereof. The Leases provide that the Tenants lease 100% of the rentable area
of the Improvements. 
  
 (b)  Lease – Assignment.    To the
Seller’s actual knowledge, the Tenants have not assigned their respective interests in the Leases or sublet any portion of the premises leased to the Tenants under the Leases. 
  
 (c)  Lease – Default.    (i) Seller has not received any notice of termination or default under the Leases, (ii)
there are no existing or uncured defaults by Seller or to Seller’s actual knowledge by the Tenants under the Leases, (iii) to Seller’s actual knowledge, there are no events which with the passage of time or notice, or both, would
constitute a default by Seller or by the Tenants, and Seller has complied with each and every undertaking, covenant, and obligation of Seller under the Leases required through the date hereof, and (iv) the Tenants have not asserted any defense,
set-off, or counterclaim with respect to its respective tenancy or its respective obligation to pay rent, additional rent, or other charges pursuant to the Leases. 
  
 (d)  Lease – Rents and Special Consideration.    Each Tenant: (i) has not prepaid rent for more than the current
month under the Leases, (ii) has not received and is not entitled to receive any rent concession in connection with its respective tenancy under the Leases other than as described in the applicable Lease, (iii) is not entitled to any special work
(not yet performed), or consideration (not yet given) in connection with its tenancy under the Lease, and (iv) does not have any deed, option, or other evidence of any right or interest in or to the Property, except for the each Tenant’s
tenancy as evidenced by the express terms of the Leases. 
  
 (e)  Lease –
Commissions.    All commissions payable under, relating to, or as a result of the Lease have been cashed-out and paid and satisfied in full by Seller or by Seller’s predecessor in title to the Property, except the
Ongoing CB Commission (as defined in section 6(k) above). 

  
 (f)  TI Allowances.    All
tenant improvement allowances owing under the Leases have been paid and satisfied in full by Seller or by Seller’s predecessor in title to the Property, except the Ongoing TI Allowance and the Expansion TI Allowance. 
  
 (g)  No Other Agreements.    Other than the Lease, the Permitted Exceptions and those
matters, if any, listed on Exhibit “B” attached hereto, there are no leases, service contracts, management agreements, or other agreements or instruments in force and effect, oral or written, to which Seller is a party and that
grant to any person whomsoever or any entity whatsoever any right, title, interest or benefit in or to all or any part of the Property or any rights relating to the use, operation, management, maintenance, or repair of all or any part of the
Property that will be binding on Purchaser. Seller is entitled to and shall terminate as of the Closing any existing management agreements (including, without limitation any management agreement with Lauth Property Group f/k/a Eaton & Lauth Real
Estate Services, Inc.) and any existing leasing agreements. 
  
 (h)  No
Litigation.    There are no actions, suits, or proceedings pending, or, to Seller’s actual knowledge, threatened by any organization, person, individual, or governmental agency against Seller with respect to the Property
or against the Property, nor does Seller know of any basis for such action. Seller has no knowledge of any pending or threatened application for changes in the zoning applicable to the Property or any portion thereof. 
  
 (i)  Condemnation.    No condemnation or other taking by eminent domain of the
Property or any portion thereof has been instituted and, to Seller’s actual knowledge, there are no pending or threatened condemnation or eminent domain proceedings (or proceedings in the nature or in lieu thereof) affecting the Property or any
portion thereof or its use. 
  
 (j)  Proceedings Affecting
Access.    The Property is served by curb cuts that provide for direct vehicular access to and from the Public Right-of-Way adjoining the Property. Said street is a public street. There are no pending or, to Seller’s
actual knowledge, threatened proceedings that could have the effect of impairing or restricting access between the Property and either of such adjacent public roads. 
  
 (k)  No Assessments.    To Seller’s actual knowledge, no assessments have been made against the Property that are
unpaid, whether or not they have become liens. 
  
 (l)  Condition of
Improvements.    Seller is not aware of any structural or other defects, in the Improvements. The heating, ventilating, air conditioning, electrical, plumbing, water, elevators, roofing, storm drainage and sanitary sewer
systems at or servicing the Land and Improvements are, to Seller’s actual knowledge, in good condition and working order and Seller is not aware of any defects or deficiencies, latent or otherwise, therein. The Property has been developed with
758 parking spaces. 
  
 (m)  Certificates.    There are
presently, or there will be on or before Closing, in effect licenses, and permits as may be required for the Property, and the use and occupation of the Property will be in compliance and conformity with all licenses and permits. There has been no
notice or request of any municipal department, insurance company or board of fire underwriters (or organization exercising functions similar thereto), or mortgagee directed to Seller and requesting the performance of any work or alteration to the
Property which has not been complied with. 
  
 (n)  Violations.    To Seller’s actual knowledge, (i) there are no existing violations of law, municipal or county ordinances, or other legal requirements with respect to the Property, (ii)
the Improvements thereon comply with all applicable legal requirements with respect to the use, occupancy, and construction thereof, (iii) the Property is zoned in a classification which permits the use thereof in the present manner, and (iv) the
Property is not located in a flood hazard area. 
  
 (o)  Utilities.    All utilities necessary for the use of the Property by the Tenants are installed and operational, and such utilities either enter the Property through adjoining public streets,
or, if they pass through adjoining private land, do so in accordance with valid public easements or private easements which inure to the benefit of the Property. 
  
 (p)  Tax Returns.    All property tax returns required be filed by Seller relating to the Property under any law,
ordinance, rule, regulation, order, or requirement of any governmental authority have been, or will be, as the case may be, truthfully, correctly, and timely filed. 

  
 (q)  Bankruptcy.    Seller
is “solvent as said term is defined by bankruptcy law” and has not made a general assignment for the benefit of creditors nor been adjudicated a bankrupt or insolvent, nor has a receiver, liquidator, or trustee for any of Seller’s
properties (including the Property) been appointed or a petition filed by or against Seller for bankruptcy, reorganization, or arrangement pursuant to the Federal Bankruptcy Act or any similar Federal or state statute, or any proceeding instituted
for the dissolution or liquidation of Seller. 
  
 (r)  Pre-existing Right to
Acquire.    No person or entity has any right or option to acquire the Property or any portion thereof which will have any force or effect after the execution of this Agreement, other than Purchaser. 
  
 (s)  Effect of Certification.    To the best of Seller’s knowledge, neither this
Agreement nor the transactions contemplated herein will constitute a breach or violation of, or default under, or will be modified, restricted, or precluded by the Lease or any title exception. 
  

(t)  Authorization.  Seller is a duly organized and validly existing limited liability company under the laws of the State
of Indiana and is qualified to do business in the State of Indiana. This Agreement has been duly authorized and executed on behalf of Seller and constitutes the valid and binding agreement of Seller, enforceable in accordance with its terms, and all
necessary action on the part of Seller to authorize the transactions herein contemplated has been taken, and no further action is necessary for such purpose. 
  
 (u)  Seller Not a Foreign Person.    Seller is not a “foreign person” which would subject Purchaser to the
withholding tax provisions of Section 1445 of the Internal Revenue Code of 1986, as amended. 
  
 (v)  Not Used. 
  
 (w)  Approvals.    The requirements of all covenants, conditions and restrictions of record relating to the development or construction of the Improvements, including all covenants requiring
consent from any third party, have been, or on the Closing will be, fully satisfied and complied with in all material respects. 
  
 (x)  Contracts.    Exhibit “B” contains a complete list and description of all contracts and agreements known to Seller or to which Seller is a
party relating to or affecting the Land or the Improvements thereon that will be binding on Purchaser and the material and equipment warranties for the Improvements the benefits of which will extend beyond the Closing. All such contracts or
agreements listed on said Exhibit “B” are in full force and effect. To Seller’s knowledge, neither party to any such contract is in default thereunder and no event has occurred which, with the mere passage of time or the
delivery of notice or both, would constitute a default or breach thereunder. Except as otherwise herein expressly provided, Seller shall not enter into any service, management or maintenance contract, or amend, cancel or otherwise revise any such
contract or agreement currently in effect, without the prior written consent of Purchaser, except that Seller shall have the right, without the consent of Purchaser, to enter into any such contracts which are either terminable by Seller (or, after
the Closing, by Purchaser) upon not more than thirty (30) days notice, or which, by their terms, have been fully performed, complied with or terminated (and are of no further force or effect) on or as of the Closing. 
  
 (y)  Inducements.    To Seller’s knowledge, there are no donations of monies or
land or payments (other than general real estate taxes) for schools, parks, fire departments or any other public facilities or for any other reason which are or will be required to be made by an owner of the Improvements, and there are no
obligations burdening the Improvements created by any so-called “recapture agreement” involving refund for sewer or water extension or other improvement to any sewer or water systems, oversizing utility, lighting or like expense or charge
for work or services done upon or relating to the Improvements which will bind the Purchaser or the Improvements from and after the closing. 
  
 (z)  Hazardous Substances.    Seller has no knowledge about adverse environmental conditions (including, but not limited to, (i) the discharge, storage, treatment,
generation, disposal or presence of hazardous substances, toxic materials, asbestos or polychlorinated biphynels, (ii) the presence of any underground storage tank whether now or in the past, or (iii) the prior use of the Property as a landfill,
cemetery or dump) affecting the Property except as disclosed in the environmental reports delivered to Purchaser pursuant to Section 4, and Seller has not received any notice from any applicable governmental agency alleging any violation of
environmental laws. 

  
 (aa)  Knowledge.    Seller
represents to Purchaser that the individuals identified below in the definition of “actual knowledge” are senior individuals employed by Seller, the property manager or affiliates of Seller who are most knowledgeable about the subject
matter of the representations and warranties made in this Agreement. 
  
 (bb)  Miscellaneous.    Except for the drainage maintenance assessment for the Margaret O’Brien Drain which is payable in two (2) installments of $25.70 (for a total annual assessment of
$51.40), subject to annual re-assessment, Seller represents to Purchaser that no municipal assessments, sewer use charges and/or impact fees unique to the Property and currently levied by the Town of Fishers/Hamilton Southeastern Utilities, Inc.(as
opposed to such assessments, charges and/or fees which are currently levied against the Property but are levied against all properties in the jurisdiction of the Town of Fishers/Hamilton Southeastern Utilities, Inc.) will be due and payable
post-Closing. 
  
 At Closing, Seller shall represent and warrant to Purchaser that all representations and warranties of Seller in this
Agreement remain true and correct as of the date of the Closing, except for any changes in any such representations or warranties that occur and are disclosed by Seller to Purchaser expressly and in writing at any time and from time to time prior to
Closing upon their occurrence, which disclosures shall thereafter be updated by Seller to the date of Closing. Each and all of the express warranties, covenants, and indemnifications made and given by Seller to Purchaser herein shall, subject to the
limitations expressly provided herein, survive the execution and delivery of the Deed by Seller to Purchaser. If there is any change in any representations or warranties and Seller does not cure or correct such changes prior to Closing, then
Purchaser may, at Purchaser’s option, (i) close and consummate the transaction contemplated by this Agreement, or (ii) terminate this Agreement by written notice to Seller, whereupon the Earnest Money shall be immediately returned by Escrow
Agent to Purchaser, and thereafter the parties hereto shall have no further rights or obligations hereunder, except only (1) for such rights or obligations that, by the express terms hereof, survive any termination of this Agreement, and (2) that
Purchaser shall have the right to seek recovery of its out-of-pocket third party expenditures incurred in connection with this Agreement (up to a maximum of $50,000.00) from Seller for any changes in such representations and warranties intentionally
and willfully caused by Seller or any such representations and warranties intentionally and willfully breached by Seller and not within the actual knowledge of Purchaser at the time of Closing. 
  

As used in this Agreement, the actual knowledge of Seller shall mean the actual knowledge of William J. Popich or David A. Ciechanowicz or Stephen G. Eppink whose
relationships to the Property respectively are the Seller’s representative having the primary responsibility for the sale, the property manager’s representative for the Property and the general contractor’s project manager.

  
 ACKNOWLEDGING PURCHASER’S OPPORTUNITY TO INSPECT THE PROPERTY, PURCHASER AGREES TO TAKE THE PROPERTY
“AS IS” WITH ALL FAULTS AND CONDITIONS THEREON, SUBJECT, HOWEVER, TO THE REPRESENTATIONS AND WARRANTIES OF SELLER MADE IN THIS AGREEMENT AND THE WARRANTIES AND COVENANTS OF SELLER MADE IN THIS AGREEMENT OR AT CLOSING. EXCEPT FOR ANY
SPECIFIC REPRESENTATION OR WARRANTY MADE BY SELLER IN THIS AGREEMENT AND EXCEPT FOR ANY WARRANTIES AND COVENANTS OF SELLER MADE IN THIS AGREEMENT OR AT CLOSING, PURCHASER ACKNOWLEDGES AND AGREES THAT SELLER HAS NOT MADE, DOES NOT MAKE AND
SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO
(A) THE NATURE, QUALITY OR CONDITION OF THE PROPERTY, INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL AND GEOLOGY, (B) THE SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES AND USES WHICH PURCHASER MAY CONDUCT THEREON, (C) THE COMPLIANCE OF OR
BY THE PROPERTY OR ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR BODY, OR (D) THE HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY 

 
 9.    Seller’s Additional Covenants.    Seller does hereby further covenant
and agree as follows: 
  
 (a)  Operation of Property.    Seller
hereby covenants that, from the date of this Agreement up to and including the date of Closing, Seller shall: (i) not negotiate with any third party respecting the sale of the Property or any interest therein, (ii) not modify, amend, or terminate
the Lease or enter into any new lease, contract, or other agreement respecting the Property, (iii) not grant or otherwise create or consent to the creation of any easement, restriction, lien, assessment, or encumbrance respecting the Property, and
(iv) cause the Property to be operated, maintained, and repaired in the same manner as the Property is currently 

  
 being operated, maintained, and repaired. 
  
 (b)  Preservation of Lease.    Seller shall, from and after the date of this
Agreement to the date of Closing, use its good faith efforts to perform and discharge all of the duties and obligations and shall otherwise comply with every covenant and agreement of the landlord under the Lease, at Seller’s expense, in the
manner and within the time limits required thereunder. Furthermore, Seller shall, for the same period of time, use diligent and good faith efforts to cause the Tenant under the Lease to perform all of its duties and obligations and otherwise comply
with each and every one of its covenants and agreements under such Lease and shall take such actions as are reasonably necessary to enforce the terms and provisions of the Lease. Seller hereby agrees that from and after full execution of this
Agreement, Seller shall not credit any portion of the security deposit, if any, against defaults or delinquencies of the Tenant under the Lease. 
  
 (c)  Tenant Estoppel Certificate.    Seller shall use its best efforts to obtain and deliver to Purchaser a fully completed estoppel certificate with respect to
each Lease in substantially the form of Exhibit “E” (the “Tenant Estoppel Certificate”), duly executed by each Tenant thereunder. The Tenant Estoppel Certificate shall be executed not more than thirty (30) days prior to
Closing. 
  
 (d)  Insurance.    From and after the date of this
Agreement to the date and time of Closing, Seller shall, at its expense, cause to be maintained in full force and effect the insurance coverage required to be maintained by Seller under the Leases. 
  
 (e)  Not Used. 
  
 (f)  CAD Disk.    On or before the Closing, Seller shall deliver to Purchaser as built drawings depicting the
Improvements as constructed, such drawings to be delivered on a CAD disk if available to Seller. 
  
 (g)  Assignment of Contracts.    Seller will use its best efforts to obtain, at or prior to the Closing, written instruments from the contracting parties whereby they consent to the assignment of
the Contracts and the material and equipment warranties for the Improvements the benefits of which will extend beyond the Closing. 
  
 (h)  Covenant to Satisfy Conditions; Effect of Failure to Satisfy.    Seller hereby agrees to use commercially reasonable efforts to cause each of the conditions
precedent to the obligations of Purchaser to be fully satisfied, performed and discharged, on and as of the Closing. 
  
 (i)  Not Used. 
  
 (j)  Action with Respect to the
Property.    Seller shall not in any manner sell, convey, assign, transfer or encumber the Improvements or the Lease or any part thereof or interest therein (except to secure, refinance or extend any existing construction
loan which shall be paid off on or before Closing), or otherwise dispose of the Improvements or the Lease, or any part thereof or interest therein, or alter or amend the zoning classification of the Improvements, or otherwise perform or permit any
act or deed which shall materially diminish, encumber or affect Seller’s rights in and to the Improvements or prevent it from performing fully its obligations hereunder, nor enter into any agreement to do so. 
  
 (k)  Closing Documents.    Seller shall obtain and deliver to Purchaser the closing
documents listed in Section 11 below. 
  
 (l)  Not Used. 
  
 (m)  Default Notices.    Seller shall deliver or cause to be delivered to Purchaser,
promptly upon receipt thereof by Seller, copies of any written notices of default, or, to the extent within the actual knowledge of Seller, the occurrence of any event which could result in a default, under any construction loan, mortgage, lease,
contract or agreement now or at any time hereafter in effect with respect to the Improvements, and shall report to Purchaser, from time to time, the status of any alleged default thereunder. Seller shall advise Purchaser in writing, promptly upon
obtaining actual knowledge of the occurrence of any event or circumstance which constitutes a breach of any of the representations or warranties or covenants of Seller herein contained, which notice shall describe the nature of such event or
circumstance in reasonable detail. Seller agrees that it will use commercially reasonable efforts at all times to correct any such event or circumstance within Seller’s reasonable control and, to the extent the same is within the reasonable
control of Seller, to cause all representations and warranties of Seller herein 

  
 contained to be true and correct on and as of the Closing, and to cause Seller to
be in compliance with its covenants and obligations hereunder. Seller shall advise Purchaser promptly in writing of the receipt, by Seller or any of its affiliates, of notice of: (i) the institution or threatened institution of any judicial,
quasi-judicial or administrative inquiry or proceeding with respect to the Improvements; (ii) any notice of violation issued by any governmental or quasi-governmental authority with respect to the Improvements, (iii) any proposed special
assessments, or (iv) any defects or inadequacies in the Improvements or any part thereof issued by any insurance company or fire rating bureau. The requirements of this subsection (m) shall survive Closing. 
  
 10.  Closing.    Provided that all of the conditions set forth in this Agreement are theretofore
fully satisfied or performed, it being fully understood and agreed, however, that Purchaser may expressly waive in writing, at or prior to Closing, any conditions that are unsatisfied or unperformed at such time, the consummation of the sale by
Seller and purchase by Purchaser of the Property (herein referred to as the “Closing”) shall be held at 2:00 p.m., local time, on the last business day of the Inspection Period, at the offices of Title Company in Indianapolis, Indiana, or
at such earlier time as shall be designated by Purchaser in a written notice to Seller not less than two (2) business days prior to Closing. 
  
 11.  Seller’s Closing Documents.    For and in consideration of, and as a condition precedent to, Purchaser’s delivery to Seller of the Purchase Price
described in Paragraph 3 hereof, Seller shall obtain or execute, at Seller’s expense, and deliver to Purchaser at Closing the following documents (all of which shall be duly executed, acknowledged, and notarized where required and shall survive
the Closing): 
  
 (a)  Limited or Special Warranty Deed.    A
Limited or Special Warranty Deed (the “Deed”) conveying to Purchaser marketable fee simple title to the Land and Improvements, together with all rights, easements, and appurtenances thereto, subject only to the Permitted Exceptions. The
legal description set forth in the Warranty Deed shall be as set forth on Exhibit “A”. In the event Purchaser shall obtain a new or updated survey of the Land and Improvements and the legal description set forth in Purchaser’s
survey shall differ from the legal description set forth on Exhibit “A”, the Deed shall convey title by the legal description based upon such survey; 
  
 (b)  Bill of Sale.    A quit claim Bill of Sale conveying to Purchaser title to the Personal Property in the form and
substance of Exhibit “G”; 
  
 (c)  Blanket
Transfer.    A Blanket Transfer and Assignment in the form and substance of Exhibit “H”; 
  
 (d)  Assignment and Assumption of Leases and Contracts.    An Assignment and Assumption of Leases and Contracts in the form and substance of Exhibit
“I”, assigning to Purchaser all of Seller’s right, title, and interest in and to the Leases and the rents thereunder and all of Seller’s right, title and interest in and to the Contracts; 
  
 (e)  Seller’s Affidavit.    A customary seller’s affidavit in the form
required by the Title Company; 
  
 (f)  FIRPTA Certificate.    A
FIRPTA Certificate in such form as Purchaser shall reasonably approve; 
  
 (g)  not used;

  
 (h)  Marked Title Commitment.    The Title Commitment,
marked to change the effective date thereof through the date and time of recording the Deed from Seller to Purchaser, to reflect that Purchaser is vested with the fee simple title to the Land and the Improvements, and to reflect that all
requirements for the issuance of the final title policy pursuant to such Title Commitment have been satisfied; 
  
 (i)  Keys and Records.    Arrangement acceptable to Purchaser for the delivery outside of Closing of all of the keys to any doors or locks on the Property and the original tenant files and other
books and records relating to the Property in Seller’s possession; 
  
 (j)  Tenant
Notice.    Notice from Seller to the Tenant of the sale of the Property to Purchaser in such form as Purchaser shall reasonably approve; 
  
 (k)  Settlement Statement.    A settlement statement setting forth the amounts paid by or on 

  
 behalf of and/or credited to each of Purchaser and Seller pursuant to this
Agreement; and 
  
 (l)  Association/Governing Board
Estoppels.    An estoppel signed by an authorized representative of any association, governing board, or other entity governing the Property addressed to Purchaser in form and substance reasonably satisfactory to Purchaser.

  
 (m)  Transfer of Permits.    If applicable, Seller shall
execute all applications and instruments required in connection with the transfer of all Permits, to the extent transferable, in order to transfer the benefits of each such Permit to the Purchaser and, if requested by Purchaser. 

 
 (n)  Other Documents.    Such other documents as shall be reasonably
required by Purchaser’s counsel. 
  
 (o)  Escrow
Agreement.    That certain Escrow Agreement attached hereto as Exhibit “J” escrowing $70,000.00 in connection with the Robert Half lease. 
  
 12.  Purchaser’s Closing Documents.    Prior to Closing, Purchaser hereby agrees to use commercially reasonable efforts to cause
each of the conditions precedent to the obligations of Seller to be fully satisfied, performed and discharged, on and as of the Closing. Purchaser shall obtain or execute and deliver to Seller at Closing the following documents, all of which shall
be duly executed and acknowledged where required and shall survive the Closing: 
  
 (a)  Blanket Transfer.    The Blanket Transfer and Assignment; 
  
 (b)  Assignment and Assumption of Leases and Contracts.    The Assignment and Assumption of Leases and Contracts; 
  
 (c)  Settlement Statement.    A settlement statement setting forth the amounts paid by or on behalf of and/or credited
to each of Purchaser and Seller pursuant to this Agreement; and 
  
 (d)  Other
Documents.    Such other documents as shall be reasonably required by Seller’s counsel. 
  
 (e)  Escrow Agreement.    The certain Escrow Agreement. 
  
 13.  Closing Costs.    Seller shall pay the cost of any transfer or documentary tax imposed by any jurisdiction in which the Property is located, the cost of the As-built Survey (and any updates
thereto), the attorneys’ fees of Seller, and all other costs and expenses incurred by Seller in closing and consummating the purchase and sale of the Property pursuant hereto. Purchaser shall pay the cost of the Title Commitment and the premium
for the owner’s policy of title insurance issued pursuant thereto, the attorneys’ fees of Purchaser, and all other costs and expenses incurred by Purchaser in closing and consummating the purchase and sale of the Property pursuant hereto.
Each party shall pay one-half of any escrow fees. 
  
 14.  Prorations.    The
following items shall be prorated and/or credited between Seller and Purchaser as of Midnight preceding the date of Closing: 
  
 (a)  Rents.    Net rents (rents less stop amounts) and other income of the Property (other than security deposits, which shall be assigned and paid over to
Purchaser) collected by Seller from Tenant for the month of Closing. Purchaser shall also receive a credit against the Purchase Price payable by Purchaser to Seller at Closing for any rents or other sums (not including security deposits) prepaid by
Tenant for any period following the month of Closing, or otherwise. 
  
 (b)  Property
Taxes.    The parties will not prorate city, state, county, and school district ad valorem taxes payable in the 2002 calendar year. Seller has paid all such taxes payable in 2002. This agreement shall expressly survive the
Closing. 
  
 (c)  Utility Charges.    Except for utilities which
are the responsibility of Tenant, Seller shall pay all utility bills and shall be responsible for utilities furnished to the Property for the 2002 calendar year. Except for utilities which are the responsibility of Tenant, Purchaser shall be
responsible for the payment of all bills for utilities furnished to the Property commencing January 1, 2003. This agreement shall survive Closing. 

 

  
 (d)  Not Used. 
  
 (e)  Operating Expense Reconciliation.    Seller shall be entitled to collect all
stop amounts, taxes or other charges for its own account through December 31, 2002, provided Seller is responsible for payment of all expenses and other charges through December 31, 2002. This subsection shall survive Closing. 

 
 (f)  Ongoing TI Allowance.    Seller shall provide Purchaser a credit to
the Purchase Price of the amount of the Ongoing TI Allowance, to the extent it has not been requested and paid to John Wiley prior to Closing. 
  
 (g)  Clarification.    The intent of the parties as set forth in this Section 14 is that monthly net rentals under the Leases will be prorated as of the Closing,
but that no other items of income and expense will be prorated as of the Closing. It is the intent of the parties that Seller receive the benefit of any such other items of income and retain the burden of any such expenses through December 31, 2002.
Seller shall have the obligation to refund any over collections, and Seller shall retain the right to pursue the Tenants for reimbursements of any such expenses (such as operating expense and tax or insurance reimbursements and the like) pursuant to
the terms of the Leases to the extent accruing on or before December 31, 2002. In exercising Seller’s right to pursue such Tenants, Seller shall copy Purchaser on any and all correspondence to Tenants and Seller shall be prohibited from
pursuing any claim against Tenants for nonpayment other than an action for damages. In particular, Seller shall not be entitled to pursue any action to terminate a Tenant’s Lease, to pursue any action to terminate a Tenant’s right to
possession, to pursue any dispossessory action or to pursue any action for distraint and distress. Notwithstanding the foregoing to the contrary, in the event there are any items of income and expense covered by this subsection (g) which relate to a
period including both a portion of calendar year 2002 and a portion of calendar year 2003, the parties agree to prorate any such item post-Closing as of December 31, 2002. Each party agrees to provide the other reasonable documentation supporting
any such 2002/2003 proration. This subsection shall survive Closing. 
  
 15.  Purchaser’s
Default.    In the event of default by Purchaser under the terms of this Agreement, Seller’s sole and exclusive remedy shall be to receive the Earnest Money as liquidated damages and thereafter the parties hereto shall
have no further rights or obligations hereunder whatsoever. It is hereby agreed that Seller’s damages will be difficult to ascertain and that the Earnest Money constitutes a reasonable liquidation thereof and is intended not as a penalty, but
as fully liquidated damages. Seller agrees that in the event of default by Purchaser, it shall not initiate any proceeding to recover damages from Purchaser, but shall limit its recovery to the retention of the Earnest Money. 

 
 Seller’s Initial [ILLEGIBLE] Purchaser’s Initials
                     
  
 16.  Seller’s Default.    In the event of default by Seller under the terms of this Agreement, including, without limitation, the failure of Seller to cure any title defects or objections,
except as otherwise specifically set forth herein, at Purchaser’s option: (i) if any such defects or objections arose by, through, or under Seller or if any such defects or objections consist of delinquent taxes, mortgages, deeds of trust,
deeds to secure debt, mechanic’s or materialman’s liens, or other such monetary encumbrances and Seller fails to accomplish one of the Four Cures (as defined in Section 7 hereof), Purchaser shall have the right to cure such defects or
objections, in which event the Purchase Price shall be reduced by an amount equal to the costs to satisfy, bond over or insure over such defects or objections, and upon such curing, the Closing hereof shall proceed in accordance with the terms of
this Agreement; or (ii) Purchaser shall have the right to terminate this Agreement by giving written notice of such termination to Seller, whereupon Escrow Agent shall promptly refund all Earnest Money to Purchaser, and Purchaser and Seller shall
have no further rights, obligations, or liabilities hereunder, except as may be expressly provided to the contrary herein and Purchaser’s right to recovery of its out-of-pocket third party expenditures incurred in connection with this Agreement
up to a maximum of $50,000.00 from Seller (and Seller hereby covenants to deliver such payment within ten (10) days after such demand of Purchaser); or (iii) Purchaser shall have the right to accept title to the Property subject to such defects and
objections with no reduction in the Purchase Price, in which event such defects and objections shall be deemed “Permitted Exceptions”; or (iv) Purchaser may elect to seek specific performance of this Agreement. 
  
 17.  Condemnation.    If, prior to the Closing, all or any part of the Property is subjected to a
bona fide threat of condemnation by a body having the power of eminent domain or is taken by eminent domain or condemnation (or sale in lieu thereof), or if Seller has received notice that any condemnation action or proceeding with respect to the
Property is contemplated by a body having the power of eminent domain and in either instance the Lease is terminable or rent thereunder may be reduced or abated, Seller shall give Purchaser immediate written 

 

  
 (d)  Not Used. 
  
 (e)  Operating Expense Reconciliation.    Seller shall be entitled to collect all
stop amounts, taxes or other charges for its own account through December 31, 2002, provided Seller is responsible for payment of all expenses and other charges through December 31, 2002. This subsection shall survive Closing. 

 
 (f)  Ongoing TI Allowance.    Seller shall provide Purchaser a credit to
the Purchase Price of the amount of the Ongoing TI Allowance, to the extent it has not been requested and paid to John Wiley prior to Closing. 
  
 (g)  Clarification.    The intent of the parties as set forth in this Section 14 is that monthly net rentals under the Leases will be prorated as of the Closing,
but that no other items of income and expense will be prorated as of the Closing. It is the intent of the parties that Seller receive the benefit of any such other items of income and retain the burden of any such expenses through December 31, 2002.
Seller shall have the obligation to refund any over collections, and Seller shall retain the right to pursue the Tenants for reimbursements of any such expenses (such as operating expense and tax or insurance reimbursements and the like) pursuant to
the terms of the Leases to the extent accruing on or before December 31, 2002. In exercising Seller’s right to pursue such Tenants, Seller shall copy Purchaser on any and all correspondence to Tenants and Seller shall be prohibited from
pursuing any claim against Tenants for nonpayment other than an action for damages. In particular, Seller shall not be entitled to pursue any action to terminate a Tenant’s Lease, to pursue any action to terminate a Tenant’s right to
possession, to pursue any dispossessory action or to pursue any action for distraint and distress. Notwithstanding the foregoing to the contrary, in the event there are any items of income and expense covered by this subsection (g) which relate to a
period including both a portion of calendar year 2002 and a portion of calendar year 2003, the parties agree to prorate any such item post-Closing as of December 31, 2002. Each party agrees to provide the other reasonable documentation supporting
any such 2002/2003 proration. This subsection shall survive Closing. 
  
 15.    Purchaser’s Default.    In the event of default by Purchaser under the terms of this Agreement, Seller’s sole and exclusive remedy shall be to receive the Earnest Money
as liquidated damages and thereafter the parties hereto shall have no further rights or obligations hereunder whatsoever. It is hereby agreed that Seller’s damages will be difficult to ascertain and that the Earnest Money constitutes a
reasonable liquidation thereof and is intended not as a penalty, but as fully liquidated damages. Seller agrees that in the event of default by Purchaser, it shall not initiate any proceeding to recover damages from Purchaser, but shall limit its
recovery to the retention of the Earnest Money. 
  
 Seller’s
Initial                     Purchaser’s Initials [ILLEGIBLE] 
  
 16.    Seller’s Default.    In the event of default by Seller under the terms of this Agreement, including, without
limitation, the failure of Seller to cure any title defects or objections, except as otherwise specifically set forth herein, at Purchaser’s option: (i) if any such defects or objections arose by, through, or under Seller or if any such defects
or objections consist of delinquent taxes, mortgages, deeds of trust, deeds to secure debt, mechanic’s or materialman’s liens, or other such monetary encumbrances and Seller fails to accomplish one of the Four Cures (as defined in Section
7 hereof), Purchaser shall have the right to cure such defects or objections, in which event the Purchase Price shall be reduced by an amount equal to the costs to satisfy, bond over or insure over such defects or objections, and upon such curing,
the Closing hereof shall proceed in accordance with the terms of this Agreement; or (ii) Purchaser shall have the right to terminate this Agreement by giving written notice of such termination to Seller, whereupon Escrow Agent shall promptly refund
all Earnest Money to Purchaser, and Purchaser and Seller shall have no further rights, obligations, or liabilities hereunder, except as may be expressly provided to the contrary herein and Purchaser’s right to recovery of its out-of-pocket
third party expenditures incurred in connection with this Agreement up to a maximum of $50,000.00 from Seller (and Seller hereby covenants to deliver such payment within ten (10) days after such demand of Purchaser); or (iii) Purchaser shall have
the right to accept title to the Property subject to such defects and objections with no reduction in the Purchase Price, in which event such defects and objections shall be deemed “Permitted Exceptions”; or (iv) Purchaser may elect to
seek specific performance of this Agreement. 
  
 17.    Condemnation.    If, prior to the Closing, all or any part of the Property is subjected to a bona fide threat of condemnation by a body having the power of eminent domain or is
taken by eminent domain or condemnation (or sale in lieu thereof), or if Seller has received notice that any condemnation action or proceeding with respect to the Property is contemplated by a body having the power of eminent domain and in either
instance the Lease is terminable or rent thereunder may be reduced or abated, Seller shall give Purchaser immediate written 

 

  
 notice of such threatened or contemplated condemnation or of such taking or sale, and Purchaser may by
written notice to Seller given within fifteen (15) days of the receipt of such notice from Seller, elect to cancel this Agreement. If Purchaser chooses to cancel this Agreement in accordance with this Paragraph 17, then the Earnest Money shall be
returned immediately to Purchaser by Escrow Agent and the rights, duties, obligations, and liabilities of the parties hereunder shall immediately terminate and be of no further force and effect. If Purchaser does not elect to cancel this Agreement
in accordance herewith, this Agreement shall remain in full force and effect and the sale of the Property contemplated by this Agreement, less any interest taken by eminent domain or condemnation, or sale in lieu thereof, shall be effected with no
further adjustment and without reduction of the Purchase Price, and at the Closing, Seller shall assign, transfer, and set over to Purchaser all of the right, title, and interest of Seller in and to any awards that have been or that may thereafter
be made for such taking. 
  
 18.    Damage or Destruction.    If any
of the Improvements shall be destroyed or damaged prior to the Closing, and the estimated cost of repair or replacement exceeds $400,000.00 or if the Lease shall terminate as a result of such damage, Purchaser may, by written notice given to Seller
within fifteen (15) days after receipt of written notice from Seller of such damage or destruction, elect to terminate this Agreement, in which event the Earnest Money shall immediately be returned by Escrow Agent to Purchaser and except as
expressly provided herein to the contrary, the rights, duties, obligations, and liabilities of all parties hereunder shall immediately terminate and be of no further force or effect. If Purchaser does not elect to terminate this Agreement pursuant
to this Paragraph 18, or has no right to terminate this Agreement (because the damage or destruction does not exceed $400,000.00 and the Lease remains in full force and effect), and the sale of the Property is consummated, Purchaser shall be
entitled to receive all insurance proceeds paid or payable to Seller by reason of such destruction or damage under the insurance required to be maintained by Seller pursuant to Paragraph 9(d) hereof (less amounts of insurance theretofore received
and applied by Seller to restoration). If the amount of said casualty or rent loss insurance proceeds is not settled by the date of Closing, Seller shall execute at Closing all proofs of loss, assignments of claim, and other similar instruments to
ensure that Purchaser shall receive all of Seller’s right, title, and interest in and under said insurance proceeds. 
  
 19.    Intentionally Deleted. 
  
 20.    Assignment.    Purchaser’s rights and duties under this Agreement shall not be assignable except to a party under the control of controlled by or under common control with
Purchaser or one of the partners of Purchaser without the consent of Seller which consent shall not be unreasonably withheld. 
  
 21.    Broker’s Commission.    Seller has by separate agreement agreed to pay a brokerage commission to CB Richard Ellis, Inc. (the “Broker”). Purchaser and Seller hereby
represent each to the other that they have not discussed this Agreement or the subject matter hereof with any real estate broker or agent other than Broker so as to create any legal right in any such broker or agent to claim a real estate commission
with respect to the conveyance of the Property contemplated by this Agreement. Seller shall and does hereby indemnify and hold harmless Purchaser from and against any claim, whether or not meritorious, for any real estate sales commission,
finder’s fees, or like compensation in connection with the sale contemplated hereby and arising out of any act or agreement of Seller, including any claim asserted by Brokers and any broker or agent claiming under Broker. Likewise, Purchaser
shall and does hereby indemnify and hold harmless Seller from and against any claim, whether or not meritorious, for any real estate sales commission, finder’s fees, or like compensation in connection with the sale contemplated hereby and
arising out of any act or agreement of Purchaser, except any such claim asserted by Broker and any broker or agent claiming under Brokers. This Paragraph 21 shall survive the Closing or any termination of this Agreement. 
  
 22.    Notices.    Wherever any notice or other communication is required or permitted
hereunder, such notice or other communication shall be in writing and shall be delivered by overnight courier, by hand, or sent by facsimile (with confirmation of transmission) to the addresses and/or facsimile numbers set out below or at such other
addresses as are specified by written notice delivered in accordance herewith: 
  
 
	 
	 PURCHASER:
 	  	 WELLS FUND XIII-REIT JOINT VENTURE PARTNERSHIP
 
	  	  	 c/o Wells Capital, Inc.
 
	  	  	 6200 The Corners Parkway, Suite 250
 
	  	  	 Norcross, Georgia 30092
 
	  	  	 Attn: Mr. Clay Adams
 
	  	  	 Facsimile: (770) 243-8510
 
	 
	 with a copy to:
 	  	 Alston & Bird LLP
 
	  	  	 One Atlantic Center
 
	  	  	 1201 West Peachtree Street
 
	  	  	 Atlanta
 , Georgia 30309-3424
 

 

 

  
 
	  	  	 Attn: Allison M. Ryan, Esq.
 
	  	  	 Facsimile: (404) 881-7777
 
	 
	 SELLER:
 	  	 Crosspoint Seven, LLC
 
	  	  	 9777 N. College Avenue
 
	  	  	 Indianapolis, Indiana 46280
 
	  	  	 Attn: William J. Popich
 
	  	  	 Facsimile: (317) 564-3055
 
	 
	 with a copy to :
 	  	 Wooden & McLaughlin LLP
 
	  	  	 1600 Capital Center South
 
	  	  	 201 North Illinois Street
 
	  	  	 Indianapolis, Indiana 46204
 
	  	  	 Attn: Tom Dinwiddie, Esq.
 
	  	  	 Facsimile: (317) 639-6444
 

 
  
 Any notice or other communication sent as herein above provided shall be deemed
effectively given or received on the date of delivery, if delivered by hand, by overnight courier or confirmed facsimile. 
  
 23.    Possession.    Possession of the Property shall be granted by Seller to Purchaser on the date of Closing, subject only to the Lease and the Permitted Exceptions. 

 
 24.    Time Periods.    If the time period by which any right, option, or
election provided under this Agreement must be exercised, or by which any act required hereunder must be performed, or by which the Closing must be held, expires on a Saturday, Sunday, or holiday, then such time period shall be automatically
extended through the close of business on the next regularly scheduled business day. 
  
 25.    Survival of Provisions.    All covenants, warranties, and agreements set forth in this Agreement shall survive the execution or delivery of any and all deeds and other documents
at any time executed or delivered under, pursuant to, or by reason of this Agreement, and shall survive the payment of all monies made under, pursuant to, or by reason of this Agreement for a period of one (1) year from Closing. 

 
 26.    Severability.    This Agreement is intended to be performed in accordance
with, and only to the extent permitted by, all applicable laws, ordinances, rules, and regulations. If any provision of this Agreement, or the application thereof to any person or circumstance, shall, for any reason and to any extent be invalid or
unenforceable, the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected thereby but rather shall be enforced to the greatest extent permitted by law. 
  
 27.    Authorization.    Purchaser represents to Seller that this Agreement has been duly
authorized and executed on behalf of Purchaser and constitutes the valid and binding agreement of Purchaser, enforceable in accordance with its terms, and all necessary action on the part of Purchaser to authorize the transactions herein
contemplated has been taken, and no further action is necessary for such purpose. 
  
 28.    General Provisions.    No failure of either party to exercise any power given hereunder or to insist upon strict compliance with any obligation specified herein, and no custom or
practice at variance with the terms hereof, shall constitute a waiver of either party’s right to demand exact compliance with the terms hereof. This Agreement contains the entire agreement of the parties hereto, and no representations,
inducements, promises, or agreements, oral or otherwise, between the parties not embodied herein shall be of any force or effect. Any amendment to this Agreement shall not be binding upon the parties hereto unless such amendment is in writing and
executed by all parties hereto. The provisions of this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, legal representatives, successors, and assigns. Time is of the essence of this
Agreement. This Agreement may be executed in multiple counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same agreement. The headings inserted at the beginning of each paragraph are
for convenience only, and do not add to or subtract from the meaning of the contents of each paragraph. This Agreement shall be construed and interpreted under the laws of the State of Indiana. Except as otherwise provided herein, all rights,
powers, and privileges conferred hereunder upon the parties shall be cumulative but not restrictive to those given by law. All personal pronouns used in this Agreement, whether used in the masculine, feminine, or neuter gender shall include all
genders, and all references herein to the singular shall include the plural and vice versa. 
  
 29    Effective Date.    The “effective date” of this Agreement shall be deemed to be the date this 

 
 15 

  
 Agreement is fully executed by both Purchaser and Seller and a fully executed original counterpart of
this Agreement has been received by both Purchaser and Seller. 
  
 30.    Duties as
Escrow  Agent.    In performing its duties hereunder, Escrow Agent shall not incur any liability to anyone for any damages, losses or expenses, except for its gross negligence or willful misconduct, and it shall
accordingly not incur any such liability with respect to any action taken or omitted in good faith upon advice of its counsel or in reliance upon any instrument, including any written notice or instruction provided for in this Agreement, not only as
to its due execution and the validity and effectiveness of its provision, but also as to the truth and accuracy of any information contained therein that Escrow Agent shall in good faith believe to be genuine, to have been signed or presented by a
proper person and to conform to the provisions of this Agreement. Seller and Purchaser hereby agree to indemnify and hold harmless Escrow Agent against any and all losses, claims, damages, liabilities and expenses, including reasonable costs of
investigation and legal fees and disbursements, that may be imposed upon Escrow Agent or incurred by Escrow Agent in connection with its acceptance or performance of its duties hereunder as escrow agent, including without limitation, any litigation
arising out of this Agreement. If any dispute shall arise between Seller and Purchaser sufficient in the discretion of Escrow Agent to justify its doing so, Escrow Agent shall be entitled to tender into the registry or custody of the clerk of the
Court for the county in which the Property is located or the clerk for the United States District Court having jurisdiction over the county in which the Property is located, any or all money (less any sums required to pay Escrow Agent’s
attorneys’ fees in filing such action), property or documents in its hands relating to this Agreement, together with such pleadings as it shall deem appropriate, and thereupon be discharged from all further duties under this Agreement. Seller
and Purchaser shall bear all costs and expenses of any such legal proceedings. 
  
 [SIGNATURES APPEAR ON THE FOLLOWING PAGE]

 

  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and their respective seals to be affixed hereunto as of the day, month and year first above written. 
  
 “SELLER”: 
  
 CROSSPOINT SEVEN, LLC, an Indiana limited liability company

  
 
	 By:
 	 	 /s/ Gregory C. Gurnik
 

	  	 	 Name:
 	 	 Gregory C. Gurnik
 

	  	 	 Its:
 	 	 Member
 

 
  
 “PURCHASER”: 

 
 WELLS FUND XIII-REIT JOINT VENTURE PARTNERSHIP 
  

	 	By:
	 
	Wells Operating Partnership, L.P., a Delaware limited partnership, partner 
 

  
 
	 By:
 	 	 Wells Real Estate Investment Trust, Inc., a Maryland corporation, its general partner
 
	 
	  	 	 By:
 	 	  
 

	  	 	 Name:
 	 	  
 

	  	 	 Its:
 	 	  
 

 
  

	 	By:
	 
	Wells Real Estate Fund XIII, L.P., a Georgia limited partnership, partner 
 

  
 
	 By:
 	 	 Wells Capital, Inc., a Georgia corporation, its general partner
 
	 
	  	 	 By:
 	 	  
 

	  	 	 Name:
 	 	  
 

	  	 	 Its:
 	 	  
 

 
  
 “ESCROW AGENT”: 

 
 CHICAGO TITLE INSURANCE COMPANY 
  
 
	 By:
 	 	 /s/ LLOYD D. SAWYER
 

	  	 	 Name:
 	 	 LLOYD D. SAWYER
 

	  	 	 Its:
 	 	 COMMERCIAL ACCTS. REP
 

 

  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and their respective seals to be affixed hereunto as of the day, month and year first above written. 
  
 “SELLER”: 
  
 CROSSPOINT SEVEN, LLC, an Indiana limited liability company

  
 
	 By:
 	 	  
 

	  	 	 Name:
 	 	  
 

	  	 	 Its:
 	 	  
 

 
  
 “PURCHASER”: 

 
 WELLS FUND XIII-REIT JOINT VENTURE PARTNERSHIP 
  

	 	By:
	 
	Wells Operating Partnership, L.P., a Delaware limited partnership, partner 
 

  
 
	 By:
 	 	 Wells Real Estate Investment Trust, Inc., a Maryland corporation, its general partner
 
	 
	  	 	 By:
 	 	 /s/ LEO F. WELLS
 

	  	 	 Name:
 	 	 LEO F. WELLS III
 

	  	 	 Its:
 	 	 PRESIDENT
 

 
  

	 	By:
	 
	Wells Real Estate Fund XIII, L.P., a Georgia limited partnership, partner 
 

  
 
	 By:
 	 	 Wells Capital, Inc., a Georgia corporation, its general partner
 
	 
	  	 	 By:
 	 	 /s/ LEO F. WELLS
 

	  	 	 Name:
 	 	 LEO F. WELLS III
 

	  	 	 Its:
 	 	 PRESIDENT
 

 
  
 “ESCROW AGENT”: 

 
 CHICAGO TITLE INSURANCE COMPANY 
  
 
	 By:
 	 	  
 

	  	 	 Name:
 	 	  
 

	  	 	 Its:
 	 	  
 

 

 
 18 

  
  
 
	 
	  	 	  	  	 Schedule of Exhibits
  
 
	 
	 Exhibit “A”  
 	 	 —
 	  	 Description of Land
 
	 
	 Exhibit “B”  
 	 	 —
 	  	 List of Contracts & Material / Equipment Warranties
 
	 
	 Exhibit “C”  
 	 	 —
 	  	 Copy of Leases
 
	 
	 Exhibit “D”  
 	 	 —
 	  	 Not Used.
 
	 
	 Exhibit “E”  
 	 	 —
 	  	 Tenant Estoppel Certificate Form
 
	 
	 Exhibit “F”  
 	 	 —
 	  	 Not Used.
 
	 
	 Exhibit “G”  
 	 	 —
 	  	 Bill of Sale Form
 
	 
	 Exhibit “H”  
 	 	 —
 	  	 Blanket Transfer and Assignment Form
 
	 
	 Exhibit “I”  
 	 	 —
 	  	 Assignment and Assumption of Leases and Contracts
 
	 
	 Exhibit “J”  
 	 	 —
 	  	 Escrow Agreement
 

 

 

  
  
 EXHIBIT “A” 

 
 LEGAL DESCRIPTION 
  
 PARCEL I: 
  
 A part of the North Half of Section 12, Township 17 North, Range 4 East of the Second
Principal Meridian, Delaware Township, Hamilton County, Indiana, being more particularly described as follows: 
  
 Commencing at the Southwest corner of Section 12, Township 17 North, Range 4 East; thence on the West line of said Section, North 00 degrees 07 minutes 30 seconds West (bearing per unrecorded Final Development Plan for Crosspoint) a
distance of 175.36 feet; thence North 89 degrees 52 minutes 30 seconds East 16.50 feet to the intersection of the original East right-of-way line of Hague Road with the northern boundary of 96th Street; thence on said East right-of-way line, North 00 degrees 07 minutes 30 seconds West 1,723.17 feet to the Southeastern right-of-way line of
the Norfolk and Southern Railway Company; thence on said Southeastern line North 27 degrees 25 minutes 18 seconds East 3,385.61 feet to the Northwesterly corner of a legal drain easement as shown on the Final Development Plan-Phase 1 for Crosspoint,
as prepared by Clyde E. Williams & Associates (unrecorded); thence on the North line of said legal drain easement the following two courses: 1) South 74 degrees 50 minutes 33 seconds East 447.84 feet to the Point of Curvature of a curve concave
southwesterly having a central angle of 23 degrees 44 minutes 27 seconds and a radius of 180.00 feet; 2) southeasterly on said curve an arc distance of 74.58 feet (said arc being subtended by a chord which bears South 62 degrees 58 minutes 19
seconds East 74.05 feet) to the POINT OF BEGINNING of the herein described real estate; thence North 56 degrees 21 minutes 25 seconds East 175.05 feet; thence North 88 degrees 28 minutes 53 seconds East 599.05 feet; thence South 50 degrees 35
minutes 28 seconds East 158.10 feet to a point on the westerly right-of-way line of Crosspoint Boulevard, said point being on a non-tangent curve, concave westerly, having a central angle of 25 degrees 46 minutes 56 seconds and a radius of 537.96
feet; thence on said right-of-way line the following four courses: 1) southerly and southwesterly on said curve an arc distance of 242.07 feet (said arc being subtended by a chord which bears South 24 degrees 15 minutes 10 seconds West 240.03 feet
); 2) South 37 degrees 08 minutes 41 seconds West 364.66 feet to the Point of Curvature of a curve concave southeasterly, having a central angle of 07 degrees 59 minutes 20 seconds and a radius of 1,467.35 feet; 3) southwesterly on said curve an arc
distance of 204.60 feet (said arc being subtended by a chord which bears South 33 degrees 09 minutes 01 seconds West 204.43 feet); 4) South 29 degrees 09 minutes 21 seconds West 174.05 feet to the most easterly corner of said legal drain easement;
thence on the North line of said legal drain easement the following five courses: 1) North 37 degrees 20 minutes 33 seconds West 250.00 feet to the Point of Curvature of a curve concave northeasterly, having a central angle of 37 degrees 00 minutes
00 seconds and a radius of 75.00 feet; 2) Northwesterly on said curve an arc distance of 48.44 feet (said arc being subtended by a chord which bears North 18 degrees 50 minutes 33 seconds West 47.60 feet); 3) North 00 degrees 20 minutes 33 seconds
West 145.00 feet; 4) North 19 degrees 50 minutes 33 seconds West 374.64 feet to the Point of Curvature of a curve concave Southwesterly, having a central angle of 31 degrees 15 minutes 33 seconds and a radius of 180.00 feet; 5) northwesterly and
westerly on said curve an arc distance of 98.20 feet (said arc being subtended by a chord which bears North 35 degrees 28 minutes 19 seconds West 96.99 feet) to the POINT OF BEGINNING. 
  
 PARCEL II: 
  
 Together with those non-exclusive easements
appertaining to Parcel I as set forth in Declaration of Covenants, Easements and Restrictions recorded July 27, 1988 as Instrument No. 88-15257, and as amended by amendment and agreement recorded June 9, 1993 and May 15, 1998 as Instrument Nos.
93-27538 and 98-26031, respectively, in the Office of the Recorder of Hamilton County, Indiana. 
  
 PARCEL III: 
  
 Together with those non-exclusive easements appertaining to Parcel I as set forth in Declarations of Drainage Easement dated June 20,
2002, and recorded June 24, 2002 as Instrument Nos. 200200044608, 200200044609 and 200200044610, respectively, in the Office of the Recorder of Hamilton County, Indiana.

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