Document:

EX-4.2

 Exhibit 4.2 
  

 
 DXC TECHNOLOGY COMPANY 

(F.K.A. EVERETT SPINCO, INC.) 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 

FOURTH SUPPLEMENTAL INDENTURE 

Dated as of August 17, 2017 
  

 
  

 

  

 Fourth Supplemental Indenture dated as of August 17, 2017 between DXC TECHNOLOGY COMPANY, a
Nevada corporation (f.k.a. Everett SpinCo, Inc.) (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 

Reconciliation and tie between Trust Indenture Act of 1939 (the “Trust Indenture Act”) and the Indenture. 

 

			
	 § 310(a)
	  	 5.10

	 (b)
	  	 5.09

	 § 311(a)
	  	 5.14

	 (b)
	  	 5.14

	 § 312(a)
	  	 2.08

	 (b)
	  	 10.04

	 (c)
	  	 10.04

	 § 313(a)
	  	 5.04

	 (b)
	  	 5.04

	 (c)
	  	 5.04

	 (d)
	  	 5.04

	 § 314(a)
	  	 3.02

	 (b)
	  	 Not Applicable

	 (c)
	  	 10.05

	 (d)
	  	 Not Applicable

	 (e)
	  	 10.05

	 (f)
	  	 Not Applicable

	 § 315(a)
	  	 5.01

	 (b)
	  	 4.12

	 (c)
	  	 5.01

	 (d)
	  	 5.05

	 (e)
	  	 10.04

	 § 316(a)
	  	 7.02,7.07

	 (b)
	  	 7.02

	 (c)
	  	 6.02

	 § 317(a)
	  	 4.03

	 (b)
	  	 5.03

	 § 318(a)
	  	 7.07

 Note: This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

  

 RECITALS 

WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of March 27, 2017 (the “Base
Indenture”), to provide for the issuance by the Company from time to time of debentures, notes or other debt instruments evidencing its indebtedness. The Base Indenture, as supplemented and amended by this Fourth Supplemental Indenture,
including the provisions of the Trust Indenture Act that are automatically deemed to be a part of this Indenture by operation of the Trust Indenture Act, and as it may be further amended or supplemented from time to time with respect to the Notes,
is herein referred to as the “Indenture.” 
 WHEREAS, the Company has authorized the issuance of Senior Floating Rate Notes
due 2021 (the “Notes”). 
 WHEREAS, the Company desires to enter into this Fourth Supplemental Indenture to establish the
form and terms of the Notes in accordance with Section 2.03 of the Base Indenture. 
 WHEREAS, all things necessary to make this Fourth
Supplemental Indenture a valid and legally binding agreement according to its terms have been done. 
 WHEREAS, the Indenture is subject to,
and will be governed by, the provisions of the Trust Indenture Act that are required to be a part of and govern indentures qualified under the Trust Indenture Act. 

NOW, THEREFORE, for and in consideration of the foregoing premises, the Company and the Trustee mutually covenant and agree for the equal and
proportionate benefit of the respective Holders from time to time of the Notes as follows: 
 ARTICLE 1 

Section 1.01. Terms of the Notes. The following terms relate to the Notes: 

(a) The Notes shall constitute a separate series of Securities under the Base Indenture having the title “Senior Floating Rate Notes due
2021.” 
 (b) The aggregate principal amount of the Notes (the “Initial Notes”) that may be initially authenticated and
delivered under the Indenture shall be $650,000,000. 
 (c) The Company may from time to time, without the consent of the Holders of the
Notes, issue additional Notes (in any such case “Additional Notes”) having the same ranking and the same interest rate provisions, maturity and other terms (except for the issue date and, in some cases, the public offering price and
the first interest payment date) as the Initial Notes. The aggregate principal amount of the Additional Notes shall be unlimited. 

  
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 (d) Any Additional Notes and the Initial Notes shall constitute a single series under the
Indenture and all references to the Notes shall include the Initial Notes and any Additional Notes unless the context otherwise requires. In the above case, if any such Additional Notes are not fungible with the previously issued Notes for U.S.
federal income tax purposes, such Additional Notes will be issued with a different CUSIP number as the previously issued Notes, as applicable. 

(e) The entire outstanding principal of the Notes shall be payable on March 1, 2021. 

(f) The interest rate for the Initial Interest Period means the Three-Month LIBOR, as determined on August 15, 2017, plus a margin of
0.95%. Thereafter, the interest rate for any Interest Period will be the Three-Month LIBOR, as determined on the applicable Interest Determination Date, plus a margin of 0.95%. Interest on the Notes shall be computed and paid on the basis of the
actual number of days in the relevant Initial Interest Period or Interest Period divided by 360. The interest rate will be reset quarterly on each Interest Reset Date. The interest rate applicable to each Interest Period commencing on the related
Interest Reset Date, or August 17, 2017 in the case of the Initial Interest Period, will be the rate determined as of the applicable Interest Determination Date. 

(g) Interest shall be payable quarterly on each Interest Payment Date to Holders of record on the Record Date. Interest on the Notes shall
accrue from and including the date the Notes are issued or from and including the most recent Interest Payment Date. If any Interest Payment Date, other than the maturity date, would otherwise be a day that is not a Business Day, the Interest
Payment Date shall be postponed to the immediately succeeding day that is a Business Day, with the same force and effect as if made on the date such payment was due, except that if that Business Day is in the immediately succeeding calendar month,
the Interest Payment Date shall be the immediately preceding Business Day. If the maturity date of the Notes falls on a day that is not a Business Day, the payment of principal and interest will be made on the next succeeding Business Day, and no
interest on such payment will accrue for the period from and after the maturity date. The Company shall make payments in respect of the Notes in global form (including principal, premium, if any, and interest) by wire transfer of immediately
available funds to the accounts specified by DTC or its nominee. The interest rate on the Notes shall be reset quarterly on each Interest Reset Date, provided that if any Interest Reset Date would otherwise be a day that is not a Business Day, the
Interest Reset Date will be postponed to the immediately succeeding day that is a Business Day, except that if that Business Day is in the immediately succeeding calendar month, the Interest Reset Date shall be the immediately preceding Business
Day. Promptly upon calculation, the Calculation Agent will inform the Company of the interest rate for the next Interest Period. Upon request from any Holder of the Notes, the Calculation Agent will provide the interest rate in effect for such Notes
for the current Interest Period and, if it has been determined, the interest rate to be in effect for the next Interest Period. 

  
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 (h) All percentages resulting from any calculation of the interest rate on the Notes will be
rounded to the nearest one millionth of a percentage point with five ten millionths of a percentage point rounded upwards (e.g., 9.8765445% (or .098765445) would be rounded to 9.876545% (or .09876545)), and all dollar amounts used in or resulting
from such calculation on the Notes will be rounded to the nearest cent (with one-half cent being rounded upwards). 

(i) Notwithstanding the foregoing, the interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as
the same may be modified by United States law of general application. Additionally, the interest rate on the Notes will in no event be lower than zero. 

(j) The Depositary for the Global Notes shall be The Depository Trust Company, New York, New York (“DTC”). 

(k) The Notes that are issued in a registered offering pursuant to the Securities Act shall be substantially in the form attached hereto as
Exhibit A, the terms of which are herein incorporated by reference. Such Global Notes shall be referred to collectively herein as the “Global Notes,” and shall be deposited with the Trustee, as custodian for the Depositary or its
nominee, for credit to an account of an Agent Member, and shall be duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of a Global Note may from time to time be increased or decreased
by adjustments made on the records of the Trustee, as custodian for the Depositary or its nominee, as hereinafter provided. 
 (l) Each
Global Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the applicable legends set forth in Exhibit A (the “Note Legends”) on the face thereof until the Note Legends are removed or not required.

 (m) The Notes shall be denominated in Dollars and shall be issuable in minimum denominations of $2,000 or any integral multiple of $1,000
in excess thereof. 
 (n) The Notes may be redeemed by the Company prior to the maturity date, as provided in Section 1.05. 

(o) The Notes will not have the benefit of any sinking fund. 

(p) Except as provided herein, the Holders of the Notes shall have no special rights in addition to those provided in the Base Indenture upon
the occurrence of any particular events. 
 (q) The Notes will be direct, unconditional, senior unsecured and unsubordinated obligations of
the Company, and will rank equal in right of payment to all of the Company’s other existing and future senior unsecured indebtedness and among themselves, and senior in right of payment to any subordinated indebtedness the Company may incur.

  
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 (r) The Notes are not convertible into shares of common stock or other securities of the Company.

 (s) The restrictive covenants set forth in Section 1.06 shall be applicable to the Notes. 

Section 1.02. Additional Defined Terms. As used herein, the following defined terms shall have the following meanings with respect
to the Notes only: 
 “Additional Notes” has the meaning set forth in Section 1.01(c). 

“Agent Members” has the meaning set forth in Section 1.08(b). 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note,
the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange at the relevant time. 

“Attributable Debt” means, with respect to any sale and lease-back transaction, the present value of the minimum rental
payments called for during the term of the lease (including any period for which such lease has been extended), determined in accordance with GAAP, discounted at a rate that, at the inception of the lease, the lessee would have incurred to borrow
over a similar term the funds necessary to purchase the leased assets. 
 “Business Day” means each Monday, Tuesday,
Wednesday, Thursday and Friday (i) that is not a day on which banking institutions are authorized or obligated by law, regulation or executive order to close in the City of New York or the city in which the corporate trust office of the trustee
is located and (ii) that is also a London Business Day. 
 “Calculation Agent” shall initially mean U.S. Bank National
Association, or any successor appointed from time to time by the Company acting as calculation agent. 
 “Capital Lease
Obligations” means, at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP. 

“Change of Control” means the occurrence of any of the following: 

(1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in a
single transaction or a series of related transactions, of all or substantially all of the Company’s assets and the assets of its Subsidiaries, taken as a whole, to one or more “persons” (as that term is defined in
Section 13(d)(3) of the Exchange Act) (other than to the Company or one of its Subsidiaries); 
 (2) the consummation of
any transaction (including, without limitation, any merger or consolidation) as a result of which any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather than number of shares;

  
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 (3) the Company consolidates with, or merges with or into any Person, or any
Person consolidates with, or merges with or into the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other person is converted into or exchanged for cash, securities or other
property, other than any such transaction where the shares of Voting Stock of the Company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person
immediately after giving effect to such transaction; or 
 (4) the adoption of a plan relating to the liquidation or
dissolution of the Company. 
 Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (i) (A)
the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (B) the direct or indirect holders of the Company’s Voting Stock immediately prior to that transaction are the holders of more than 50% of the Voting
Stock of such holding company, or (ii) the Company consolidates with, or merges with or into, any person that results in the surviving person remaining a public company. 

“Change of Control Offer” has the meaning set forth in Section 1.06(d). 

“Change of Control Payment” has the meaning set forth in Section 1.06(d). 

“Change of Control Payment Date” has the meaning set forth in Section 1.06(d). 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event. 

“Clearstream” means Clearstream Bank, société anonyme, or its successors. 

“Company” means the Person named as the “Company” in the first paragraph of this Indenture until a successor Person
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having
a maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity
to the remaining term of such Notes. 

  
 6 

 “Comparable Treasury Price” means, with respect to any Redemption Date,
(i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than four
such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Consolidated Net Tangible Assets” means,
as of any particular time, the aggregate amount of the Company’s assets and the assets of the Company’s Subsidiaries (in each case, less applicable reserves and other properly deductible items) after deducting from such amount: 

(1) all current liabilities other than (A) notes and loans payable, (B) current maturities of long-term debt and
(C) current maturities of Capital Lease Obligations, and 
 (2) intangible assets, to the extent included in such
aggregate assets, all as set forth on the Company’s then most recent consolidated balance sheet and computed in accordance with GAAP. 

“Definitive Security” means a certificated Note registered in the name of the Holder thereof and issued in accordance with
Section 2.01 of the Base Indenture. 
 “DTC” has the meaning set forth in Section 1.01(g). 

“Euroclear” means Euroclear Bank S.A./N.V., or its successor. 

“Event of Default” has the meaning set forth in Section 1.07(a). 

“Fitch” means Fitch Ratings, Inc., and its successors. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Public Company
Accounting Oversight Board (United States) and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession,
which are in effect as of the date of this Indenture. 
 “Global Note” means, individually and collectively, each of the
Notes in global form issued to the Depositary or its nominee. 
 “Indebtedness” means, with respect to any Person, and
without duplication, any indebtedness, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments or obligations under capital leases, except any such balance that constitutes an accrued
expense or trade payable, if and to the extent any of the foregoing indebtedness would appear as a liability upon an unconsolidated balance sheet of such Person in accordance with GAAP (but does not include contingent liabilities which appear only
in a footnote to a balance sheet); provided that Indebtedness shall exclude (A) Indebtedness that is required to be converted at, or prior to, maturity into equity securities of the Company, and (B) advances and overdrafts in
respect of cash pooling and multi-currency notional pooling programs. 

  
 7 

 “Independent Investment Banker” means an independent investment institution of
national standing, which may be one of the Reference Treasury Dealers or their respective affiliates, selected by the Company. 

“Initial Interest Period” means the period from and including August 17, 2017 to but excluding the first Interest Reset
Date. Thereafter, each interest reset period (an “Interest Period”) means the period from and including an Interest Reset Date to but excluding the immediately succeeding Interest Reset Date; provided that the final Interest Period
for the Notes shall be the period from and including the Interest Reset Date immediately preceding the maturity date of the Notes to but excluding the maturity date. 

“Interest Determination Date” means the second London Business Day immediately preceding August 17, 2017, in the case of
the Initial Interest Period, or thereafter, the second London Business Day immediately preceding the applicable Interest Reset Date. 

“Interest Payment Date” means March 1, June 1, September 1 and December 1 of each year, commencing on
September 1, 2017. 
 “Interest Reset Date” means March 1, June 1, September 1 and December 1 of
each year, commencing on September 1, 2017. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3
(or the equivalent) by Moody’s; BBB– (or the equivalent) by S&P; and BBB- (or the equivalent) by Fitch, and the equivalent investment grade credit rating from any additional rating agency or
Rating Agencies selected by the Company. 
 “LIBOR” means the U.S. dollar London Interbank Offered Rate. 

“Lien” means any lien, security interest, charge, mortgage, pledge or other encumbrance of any kind (including any
conditional sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any security interest). 

“London Business Day” means a day on which dealings in deposits in U.S. dollars are transacted in the London interbank
market. 
 “Moody’s” means Moody’s Investors Service, Inc. and its successors. 

“Notes” means the Initial Notes, any Additional Notes and any other notes issued in respect thereof. 

“Rating Agencies” means (1) each of Moody’s, S&P and Fitch; and (2) if any of Moody’s, S&P or
Fitch ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the control of the Company, a “nationally recognized statistical rating organization” within the meaning of
Section 3(a)(62) under the Exchange Act selected by the Company as a replacement agency for Moody’s, S&P or Fitch, as the case may be. 

  
 8 

 “Rating Event” means the rating on the Notes is lowered by at least two of the
three Rating Agencies and the Notes are rated below an Investment Grade Rating by at least two of the three Rating Agencies on any day during the period (which period will be extended so long as the rating of the Notes is under publicly announced
consideration for a possible downgrade by any of the Rating Agencies) commencing on the earlier of the date of the first public occurrence of a Change of Control or the date of public notice of an agreement that, if consummated, would result in a
Change of Control and ending 60 days following consummation of such Change of Control. 
 “Record Date” means the date that
is 15 calendar days prior to each Interest Payment Date. 
 “Redemption Date” means, when used with respect to any Note to
be redeemed, the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price” means, when used
with respect to any Note to be redeemed, the price at which it is to be redeemed pursuant to this Indenture. 
 “Reference Treasury
Dealer” means each of: (i) Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC and a primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) selected
by MUFG Securities Americas Inc. and their respective successors; provided, however, that if any of the foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary Treasury Dealer; and (ii) any other Primary
Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer at any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing
to the Independent Investment Banker by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Restricted Subsidiary” means any Subsidiary (a) substantially all the property of which is located, or substantially
all the business of which is carried on, within the United States, or (b) which holds more than 5.0% of the Company’s Consolidated Net Tangible Assets; except for any Subsidiary primarily engaged in financing receivables or in the finance
business. 
 “Reuters LIBOR 01” means the display designated on page LIBOR 01 on the Reuters Service (or such other page as
may replace the LIBOR 01 page on that service, or such other service as may be nominated by the ICE Benchmark Administration Limited, (“ICE”) or its successor, or such other entity assuming the responsibility of ICE or its successor
in the event ICE or its successor no longer does so, as the successor service, for the purpose of displaying London interbank offered rates for U.S. dollar deposits). 

“S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc., and its
successors. 

  
 9 

 “Subsidiary” of any specified Person means any corporation, association or other
business entity of which more than 50% of the total voting power of shares of capital stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or
controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof. 

“Three-Month LIBOR” will be determined by the Calculation Agent as of the applicable Interest Determination Date in
accordance with the following provisions: 
 (i) Three-Month LIBOR is the rate for deposits in U.S. dollars for the 3-month period which appears on Reuters LIBOR 01 at approximately 11:00 a.m., London time, on the applicable Interest Determination Date. If no rate appears on Reuters LIBOR 01, Three-Month LIBOR for such Interest
Determination Date will be determined in accordance with the provisions of paragraph (ii) below. 
 (ii) With respect to an Interest
Determination Date on which no rate appears on Reuters LIBOR 01 as of approximately 11:00 a.m., London time, on such Interest Determination Date, the Calculation Agent shall request the principal London offices of each of four major reference banks
(which may include affiliates of the Underwriters) in the London interbank market selected by the Company to provide the Calculation Agent with a quotation of the rate at which deposits of U.S. dollars having a three-month maturity, commencing on
the second London Business Day immediately following such interest determination date, are offered by it to prime banks in the London interbank market as of approximately 11:00 a.m., London time, on such Interest Determination Date in a principal
amount equal to an amount of not less than U.S. $1,000,000 that is representative for a single transaction in such market at such time. If at least two such quotations are provided, Three-Month LIBOR for such Interest Determination Date will be the
arithmetic mean of such quotations as calculated by the Calculation Agent. If fewer than two quotations are provided, Three-Month LIBOR for such Interest Determination Date will be the arithmetic mean of the rates quoted as of approximately 11:00
a.m., New York City time, on such Interest Determination Date by three major banks (which may include affiliates of the Underwriters) selected by the Company for loans in U.S. dollars to leading European banks having a three-month maturity
commencing on the second London Business Day immediately following such Interest Determination Date and in a principal amount equal to an amount of not less than U.S. $1,000,000 that is representative for a single transaction in such market at such
time; provided, however, that if the banks selected as aforesaid by the Calculation Agent are not quoting such rates as mentioned in this sentence, Three-Month LIBOR for such Interest Determination Date will be Three-Month LIBOR determined with
respect to the immediately preceding Interest Determination Date. 
 “Treasury Rate” means, with respect to any Redemption
Date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for such Redemption Date. 

  
 10 

 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and the
rules and regulations thereunder as in effect on the date of this Indenture, except to the extent that the Trust Indenture Act or any amendment thereto expressly provides for application of the Trust Indenture Act as in effect on another date. 

“Voting Stock” of any specified person as of any date means the capital stock of such person that is at the time entitled to
vote generally in the election of the board of directors of such person. 
 Section 1.03. Trust Indenture Act Provisions.
Whenever this Indenture refers to a provision of the Trust Indenture Act, that provision is incorporated by reference in and made a part of this Indenture. This Indenture shall also include those provisions of the Trust Indenture Act
required to be included herein by the provisions of the Trust Indenture Reform Act of 1990. The following Trust Indenture Act terms used in this Indenture have the following meanings: 

“indenture securities” means the Notes; 

“indenture security holder” means a Holder of a Note; 

“indenture to be qualified” means the Indenture; 

“indenture Trustee” or “institutional Trustee” means the Trustee; and 

“obligor” on the indenture securities means the Company or any other obligor on the Notes. 

All other terms used in this Indenture that are defined in the Trust Indenture Act, defined by Trust Indenture Act reference to another
statute or defined by any Securities and Exchange Commission rule and not otherwise defined herein have the meanings assigned to them therein. 

Section 1.04. Payment, Transfer and Exchange. (a) Registration of Transfer and Exchange. To permit registrations of
transfers and exchanges, the Company shall execute a new Note or Notes of the same series as the Note presented for a like aggregate principal amount and in authorized denominations and the Trustee shall authenticate and deliver such Note or Notes
upon receipt of an Issuer Order for the authentication and delivery of such Notes. 
 All Notes issued upon any registration of transfer or
exchange of Notes shall be the valid obligations of the Company, evidencing the same indebtedness, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. Prior to such due
presentment for the registration of a transfer of any Note, the Trustee, the Company, the paying agent and the Registrar may deem and treat the person in whose name any Note is registered as the absolute owner of such Note for the purpose of
receiving payment of principal of and interest on such Notes and for all other purposes, and none of the Trustee, the Company, the paying agent or the Registrar shall be affected by notice to the contrary. 

  
 11 

 All certifications, certificates and opinions of counsel which may be required to be submitted to
the Trustee to effect a registration of transfer or exchange may be submitted by facsimile, to be followed by originals. 
 (b)
Payment. The principal and interest on Notes represented by Global Securities will be payable to the Depositary or its nominee, as the case may be, as the sole registered owner and the sole Holder of the Global Securities represented thereby.

 (c) Transfer and Exchange of Beneficial Interests in the Global Securities. The transfer and exchange of beneficial interests in
the Global Securities shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in any Global Note may be transferred to persons who take delivery thereof in the
form of a beneficial interest in a Global Note. 
 Section 1.05. Optional Redemption. 

(a) The provisions of Article 11 of the Base Indenture, as amended by the provisions of this Fourth Supplemental Indenture, shall apply to the
Notes. The Notes shall be redeemable, as a whole or in part, at the Company’s option, on August 20, 2018 or at any time or from time to time thereafter at a Redemption Price equal to 100% of the aggregate principal amount of the Notes
being redeemed, plus accrued and unpaid interest to, but not including, the Redemption Date. 
 (b) Unless the Company defaults in payment of
the Redemption Price, on and after the Redemption Date for the Notes, interest shall cease to accrue on the Notes or portions thereof called for redemption. 

(c) Notice of any redemption with respect to the Notes shall be given in the manner provided for in Section 11.02 of the Base Indenture on
at least 10 days’ but not more than 60 days’ prior notice to the Redemption Date, to each Holder of Notes to be redeemed, except that redemption notices may be delivered more than 60 days prior to a Redemption Date if such notice is issued
in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture. 
 (d) At any time, the Company may repurchase
Notes in the open market and may hold such Notes or surrender such Notes to the Trustee for cancellation pursuant to Section 2.10 of the Base Indenture. 

(e) For the avoidance of doubt, the Trustee shall not be required to calculate the Redemption Price or the Treasury Rate. 

Section 1.06. Additional Covenants. The following additional covenants shall apply with respect to the Notes so long as any of the
Notes remain outstanding: 
 (a) Limitation on Liens. Other than as provided in Section 1.06(c) below, neither the Company nor
any of its Restricted Subsidiaries may create, incur, assume or suffer to exist any Lien upon any of the Company’s property, to secure any Indebtedness of the Issuer or a Restricted Subsidiary, except for: 

  
 12 

 (i) Liens existing on the date hereof and any extension, renewal or replacement
(or successive extensions, renewals or replacements) of any such Lien; provided that no such extension, renewal or replacement will extend to or cover any property other than the property covered by such existing Lien; 

(ii) Liens on property existing at the time the Company or any of its Restricted Subsidiaries acquires such property, provided
that such Liens: 
 (A) are not incurred in connection with, or in contemplation of the acquisition of the property acquired;
and 
 (B) do not extend to or cover any of the Company’s property or any of its Restricted Subsidiaries’ property
other than the property so acquired; 
 (iii) Liens on any property of a corporation or other entity existing at the time
such corporation or entity becomes the Company’s Restricted Subsidiary or is merged into or consolidated with the Company or a Restricted Subsidiary or at the time of a sale, lease or other disposition of the properties of such corporation or
entity as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary, provided that such Liens: 

(A) are not incurred in connection with or in contemplation of such corporation or entity becoming a Restricted Subsidiary or
merging or consolidating with the Company or a Restricted Subsidiary or are not incurred in connection with or in contemplation of the sale, lease or other disposition of the properties of such corporation or other entity; and 

(B) do not extend to or cover any of the Company’s property or any of its Restricted Subsidiaries’ property other
than the property of such corporation or other entity; 
 (iv) purchase money Liens upon or in any real or personal property
(including fixtures and other equipment) the Company or any of its Restricted Subsidiaries hold or have acquired to secure the purchase price of such property or to secure Indebtedness incurred solely to finance or refinance the acquisition or
improvement of such property and incurred within 270 days after completion of such acquisition or improvement; 
 (v) Liens
to secure Indebtedness owing to the Company or to a Restricted Subsidiary; 
 (vi) Liens for taxes, assessments or other
governmental charges not yet due or payable or not overdue for a period of more than 60 days or that are being contested by the Company or a Restricted Subsidiary, and for which the Company maintains adequate reserves in accordance with GAAP, and
attachment, judgment and other similar Liens arising in connection with legal proceedings; provided that any such judgment does not constitute an Event of Default; 

  
 13 

 (vii) Liens in favor of the United States to secure amounts paid to the Company
or any of its Restricted Subsidiaries as advance or progress payments under government contracts entered into by it so long as such Liens cover only (x) special bank accounts into which only such advance or progress payments are deposited and
(y) supplies covered by such government contracts and material and other property acquired for or allocated to the performance of such government contracts; 

(viii) Liens incurred in connection with an asset acquisition or a project financed with a
non-recourse obligation; 
 (ix) Liens in favor of suppliers, producers, operators,
workmen, materialmen, mechanics, workmen or repairmen, landlord’s Liens for rent or other similar Liens arising, in each case, in the ordinary course of business in respect of obligations which are not overdue or which are being contested by
the Company or any Restricted Subsidiary in good faith and by appropriate proceedings; 
 (x) Liens consisting of zoning
restrictions, licenses, easements, covenants, rights-of-way, utility easements, building restrictions and similar encumbrances and restrictions on the use of real
property and minor irregularities that do not materially impair the use of the real property; 
 (xi) Liens arising under
leases or subleases of real or personal property that do not, individually or in the aggregate, materially detract from the value of such real or personal property or materially interfere with the ordinary conduct of the business conducted at such
real property or with respect to such personal property; 
 (xii) Liens arising under licenses or sublicenses of intellectual
property granted in the ordinary course of business; 
 (xiii) Liens arising by reason of deposits with, or giving any form
of security to, any governmental agency or any body created or approved by law or government regulation; 
 (xiv) Liens
created by or resulting from any litigation or other proceeding that is being contested in good faith by appropriate proceedings, including Liens arising out of judgments or awards against the Company or any Restricted Subsidiary with respect to
which the Issuer or any of its Restricted Subsidiaries is in good faith prosecuting an appeal or proceedings for review for which the time to make an appeal has not yet expired, and Liens relating to final unappealable judgments that are satisfied
within 60 days of the date of judgment or Liens incurred by the Company or any Restricted Subsidiary for the purposes of obtaining a stay or discharge in the course of any litigation proceeding to which the Company or any of its Restricted
Subsidiaries is a party; 
 (xv) Liens on deposits securing obligations under cash pooling and multi-currency notional
pooling programs; 

  
 14 

 (xvi) Liens relating to hedging and similar arrangements entered into in the
ordinary course of business, including without limitation interest rate or foreign currency hedging arrangements; 
 (xvii)
Liens incurred or deposits made by the Company or its Restricted Subsidiaries in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other types of social security benefits, taxes, assessments,
statutory obligations or other similar charges, or to secure the performance of tenders, statutory obligations, bids, leases, government contracts, performance and
return-of-money bonds or other similar obligations (exclusive of obligations for the payment of borrowed money); 

(xviii) Liens on account receivables or related assets resulting from the sale of such account receivables or such related
assets, or Liens arising in connection with or related to any securitization financings, factoring arrangements or assignments thereof that may be entered into by the Company or any Restricted Subsidiary; 

(xix) Liens, pledges or deposits made in the ordinary course of banking arrangements in connection with any netting or set-off arrangements for the purpose of netting debit and credit balances; 
 (xx) Liens on
property incurred in sale and lease-back transactions permitted under Section 1.06(b); and 
 (xxi) Liens constituting
any extension, renewal or replacement of any Liens in provisions (i) to (xx) above to the extent the principal amount of the Indebtedness secured by such Lien is not increased (except to the extent of any premiums, fees or other costs
associated with any such extension, renewal or replacement) and the property encumbered by any such Lien is the same as or substantially similar in nature to the property encumbered by the Lien being extended, renewed or replaced. 

Notwithstanding the foregoing, the Company or any of its Restricted Subsidiaries may create, incur, assume or suffer to exist Indebtedness
secured by Liens not otherwise permitted by this Section 1.06(a) if the Company first makes effective provisions whereby the Notes (together with any other Indebtedness of the Company then existing or thereafter created ranking equally with
such Notes and similarly entitled to be equally and ratably secured) shall be secured equally and ratably with such Indebtedness for so long as such Indebtedness shall so be secured. 

(b) Limitation on Sale and Lease-back Transactions. Other than as provided in Section 1.06(c) below, neither the Company nor any of
its Restricted Subsidiaries may enter into any sale and lease-back transaction with a term longer than three years, unless: 

(i) such transaction was entered into prior to the date hereof; 

  
 15 

 (ii) such transaction was for the sale and leasing back to the Company of any
property by one of its Restricted Subsidiaries; 
 (iii) the Company would be entitled to incur Indebtedness secured by a
mortgage on the property to be leased in an amount equal to the Attributable Debt with respect to such sale and lease-back transaction without equally and ratably securing the notes pursuant to Section 1.06(a) above; or 

(iv) the Company applies an amount equal to the fair value of the property sold to the purchase of property or to the
retirement of its long-term Indebtedness (including the Notes) within 365 days of the effective date of any such sale and lease-back transaction. 

(c) Permitted Liens and Permitted Sale and Lease-back Transactions. Notwithstanding the restrictions set forth under
Section 1.06(a) and Section 1.06(b), the Company or any of its Restricted Subsidiaries may create, incur, assume or suffer to exist any Lien or enter into any sale and lease-back transaction not otherwise permitted pursuant to
Section 1.06(a) or Section 1.06(b); provided that, at the time of such event, and after giving effect to that event, the aggregate amount of all Indebtedness secured by Liens permitted by this Section 1.06(c) (excluding the Liens
permitted pursuant to Section 1.06(a)) and the aggregate amount of all Attributable Debt in respect of sale and lease-back transactions permitted by this Section 1.06(c) (excluding sale and lease-back transactions permitted under
Section 1.06(b)) measured, in each case, at the time any such Lien is incurred or any such sale and lease-back transaction is entered into, by the Company or any Restricted Subsidiary does not exceed 20% of the Company’s Consolidated Net
Tangible Assets. 
 (d) Purchase of Notes upon a Change of Control Triggering Event. (i) If a Change of Control Triggering Event
occurs with respect to the Notes, unless the Company has exercised its option to redeem such Notes as described in Section 1.05 hereof, the Company will make an offer (a “Change of Control Offer”) to each Holder of such Notes
to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price, payable in cash, equal to 101% of the aggregate principal amount of Notes repurchased, plus
accrued and unpaid interest, on the Notes repurchased to, but excluding, the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option,
prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice will be sent to Holders of the Notes, with a copy to the Trustee, describing the transaction that
constitutes or may constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 90 days from the date such notice is
delivered (the “Change of Control Payment Date”). The notice will, if delivered prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event
occurring on or prior to the Change of Control Payment Date and shall state the following: 

  
 16 

 (A) that the Change of Control Offer is being made pursuant to this
Section 1.06(d) and that all Notes tendered will be accepted for payment; 
 (B) the purchase price and the purchase
date, which shall be no earlier than 30 days and no later than 90 days from the date such notice is mailed; 
 (C) that any
Note not tendered will continue to accrue interest; 
 (D) that, unless the Company defaults in the payment of the Change of
Control Payment, all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 

(E) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender the
Notes, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the paying agent at the address specified in the notice prior to the close of business on the third
Business Day preceding the Change of Control Payment Date; 
 (F) that Holders will be entitled to withdraw their election if
the paying agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount
of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; and 

(G) that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof. 

The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and
any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any
securities laws or regulations conflict with the provisions of this Section 1.06(d), the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this
Section 1.06(d) by virtue of such compliance. 

  
 17 

 (ii) On the Change of Control Payment Date, the Company will, to the extent
lawful: 
 (A) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer;

 (B) deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of
Notes properly tendered; and 
 (C) deliver or cause to be delivered to the Trustee the Notes properly accepted together
with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased. 

The paying agent will promptly deliver (but in any case not later than five days after the Change of Control Payment Date) to
each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate and deliver (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any
unpurchased portion of the Notes surrendered, if any. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 

(iii) Notwithstanding anything to the contrary in this Section 1.06(d), the Company will not be required to make a Change
of Control Offer upon the occurrence of a Change of Control Triggering Event if (a) a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 1.06(d) and the
third party repurchases all Notes properly tendered and not withdrawn under its offer, or (b) notice of redemption has been given pursuant to Section 1.05 hereof, unless and until there is a default in payment of the applicable Redemption
Price. 
 Section 1.07. Defaults and Remedies. (a) Events of Default. This Section 1.07(a) shall replace
Section 4.01 of the Base Indenture with respect to the Notes only. 
 Each of the following is an “Event of Default”
with respect to the Notes: 
 (i) default in the payment of interest on the Notes when due, and such default has continued
for a period of 90 days or more and the time for such payment is due has not been extended or deferred; 
 (ii) default in
the payment (at maturity, upon redemption or otherwise) of the principal of the Notes when due; 
 (iii) failure by the
Company for 90 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then Outstanding to perform or observe any of the other covenants or agreements in this Indenture (other than
defaults specified in clauses (i) or (ii) above); 

  
 18 

 (iv) any of the Company’s Indebtedness in the aggregate outstanding
principal amount of $250 million or more either: 
 (A) becomes due and payable prior to the due date for payment of
such Indebtedness by reason of acceleration of such Indebtedness following a default by the Company; or 
 (B) is not repaid
at, and remains unpaid after, maturity as extended by any applicable period of grace or any guarantee given by us in respect of Indebtedness of any other Person in the aggregate outstanding principal amount of $250 million or more is not
honored when, and remains dishonored after, becoming due; 
 (v) the Company pursuant to or within the meaning of any
Bankruptcy Law (A) commences a voluntary case, (B) consents to the entry of an order for relief against it in an involuntary case, (C) consents to the appointment of a custodian of it or for all or substantially all of its property or
(D) makes a general assignment for the benefit of its creditors; or 
 (vi) a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that (A) is for relief against the Company in an involuntary case, (B) appoints a custodian of the Company for all or substantially all of the Company’s properties, or (C) orders the
liquidation of the Company, and, in any of the above cases, the order or decree remains unstayed and in effect for 90 days. 
 (b)
Acceleration of Maturity. In the case of an Event of Default specified in clause (v) or (vi) of Section 1.07(a), all outstanding Notes will become due and payable immediately without further action or notice. If any other Event of
Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately by notice in writing to the Company (and to the
Trustee if written notice is given by such Holders). Upon any such declaration, the Notes shall become due and payable immediately. 
 The
Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf of all of the Holders, rescind an acceleration and its consequences with respect to such Notes, if the rescission would
not conflict with any judgment or decree and if all existing Events of Default with respect to such Notes (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived. 

Section 1.08. Book-Entry Provisions for Global Notes. (a) Each Global Note initially shall (i) be registered in the name of
the Depositary for such Global Note or the nominee of such Depositary, in each case for credit to the account of an Agent Member, and (ii) be delivered to the Trustee as custodian for such Depositary. None of the

  
 19 

 
Company, any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests
of a Global Note, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 
 (b) Members
of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Depositary, or its custodian, or under such Global Notes. The Depositary
may be treated by the Company, any other obligor upon the Notes, the Trustee and any agent of any of them as the absolute owner of the Global Notes for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company,
any other obligor upon the Notes, the Trustee or any agent of any of them from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the
operation of customary practices governing the exercise of the rights of a beneficial owner of any Note. The Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests
through Agent Members, to take any action that a Holder is entitled to take under this Indenture or the Notes. 
 (c) Transfers of a Global
Note shall be limited to transfers of such Global Note in whole, but, subject to the immediately succeeding sentence, not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Note may
not be transferred or exchanged for physical Notes unless (i) the Company has consented thereto in writing, or such transfer or exchange is made pursuant to the next sentence, and (ii) such transfer or exchange is in accordance with the
applicable rules and procedures of the Depositary. Subject to the limitation on issuance of physical Notes, physical Notes shall be transferred to all beneficial owners in exchange for their beneficial interests in the relevant Global Note, if
(i) the Depositary notifies the Company at any time that it is unwilling or unable to continue as Depositary for the Global Notes and a successor depositary is not appointed within 120 days; (ii) the Depositary ceases to be registered as a
“Clearing Agency” under the Exchange Act and a successor depositary is not appointed within 120 days; or (iii) the Company, at its option, notifies the Trustee that it elects to cause the issuance of physical Notes. 

(d) The transfer and exchange of a Global Note or beneficial interests therein shall be effected through the Depositary, in accordance with
this Indenture (including applicable restrictions on transfer set forth in Section 1.09) and the Applicable Procedures therefor of the Depositary. Any beneficial interest in one of the Global Notes that is transferred to a Person who takes
delivery in the form of an interest in a different Global Note will, upon transfer, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be subject to all transfer
restrictions, if any, and other procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. A transferor of a beneficial interest in a Global Note shall deliver to the Registrar a written order
given in accordance with the Depositary’s Applicable Procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in the relevant Global Note. The Registrar shall, in accordance
with such instructions, instruct the Depositary to credit to the account of the Person specified in such instructions a beneficial interest in such Global Note and to debit the account of the Person making the transfer the beneficial interest in the
Global Note being transferred. 

  
 20 

 Section 1.09. Satisfaction and Discharge of Indenture. This Section 1.09 shall
replace Section 9.01(a) of the Base Indenture with respect to the Notes only.  
 (a) either (i) all the Notes that have
been authenticated and delivered have been cancelled or delivered to the Trustee for cancellation (other than any Notes which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.09 of
the Base Indenture); or (ii) all the Notes issued that have not been cancelled or delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable at their final maturity within one
year, or are to be called for redemption within one year, under irrevocable arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the Company’s name, and at the Company’s expense and the Company
shall have irrevocably deposited or caused to be deposited with the Trustee sufficient funds to pay and discharge the entire indebtedness on the Notes to pay principal, interest, if any, and any premium, which for purposes of this provision shall be
calculated without applying any “present value discount” and using a Treasury Rate of no less than zero. 
 Section 1.10.
Successors. Upon any consolidation or merger, or any sale, transfer, lease, conveyance or other disposition of the assets of the Company substantially as an entirety in a transaction that is subject to, and that complies with the provisions
of, Article 8 of the Base Indenture, the successor Person formed by such consolidation or into or with which the Company is merged or to which such sale, lease, transfer, conveyance or other disposition is made shall succeed to, and be substituted
for (so that from and after the date of such consolidation, merger, sale, lease, transfer, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the successor Person and not to
the Company), and may exercise every right and power of the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; provided, however, that the predecessor Company shall not be relieved
from the obligation to pay the principal of and interest on the Notes except in the case of a sale of all of the Company’s assets in a transaction that is subject to, and that complies with the provisions of, this Section 1.10. 

ARTICLE 2 

MISCELLANEOUS 

Section 2.01. Definitions. Capitalized terms used but not defined in this Fourth Supplemental Indenture shall have the meanings
ascribed thereto in the Base Indenture. 
 Section 2.02. Confirmation of Indenture. The Base Indenture, as supplemented and
amended by this Fourth Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture, this Fourth Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same
instrument. 

  
 21 

 Section 2.03. Governing Law. THIS INDENTURE AND THE NOTES, INCLUDING ANY CLAIM OR
CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE NOTES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE
OF NEW YORK. 
 Section 2.04. Severability. In case any provision in this Fourth Supplemental Indenture or in the Notes shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 2.05. Counterparts. This Fourth Supplemental Indenture may be executed in any number of counterparts and by the parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 2.06. No Benefit. Nothing in this Fourth Supplemental Indenture, express or implied, shall give to any person other than
the parties hereto and their successors or assigns, and the Holders of the Notes, any benefit or legal or equitable rights, remedy or claim under this Fourth Supplemental Indenture or the Base Indenture. 

Section 2.07. Trustee. The Trustee makes no representations or warranties as to the validity or sufficiency of this Fourth
Supplemental Indenture. 
 [Signature Pages Follow] 

  
 22 

 IN WITNESS WHEREOF, the parties hereto have caused the Indenture to be duly executed as of the
date set forth above. 
  

			
	DXC TECHNOLOGY COMPANY
		
	By:	 	 /s/ Paul N. Saleh

	Name:	 	Paul N. Saleh
	Title:	 	Executive Vice President, Chief Financial Officer
		
	By:	 	 /s/ Neil A. Manna

	Name:	 	Neil A. Manna
	Title:	 	Principal Accounting Officer, Senior Vice President and Controller

 
			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Elizabeth A. Boyd

	Name:	 	Elizabeth A. Boyd
	Title:	 	Vice President

 EXHIBIT A 

FORM OF GLOBAL NOTE 

[Global Notes Legend] 
 THIS SECURITY IS A
REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY ( THE “DEPOSITARY”) OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

  
 A-1 

 FORM OF SENIOR FLOATING RATE NOTES DUE 2021 

 

			
	 No. [         ]
	  	
$[                
    ]

	 CUSIP No. 23355LAE6
	  	

 DXC TECHNOLOGY COMPANY 

DXC TECHNOLOGY COMPANY (F.K.A. EVERETT SPINCO, INC.), a Nevada corporation (the “Company”), promises to pay to Cede & Co., or
registered assigns, the principal sum of                      Dollars
($                    ) on March 1, 2021. 

Interest Payment Dates: March 1, June 1, September 1 and December 1 

Record Dates: 15 calendar days prior to each Interest Payment Date. 

Each holder of this Note (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the Indenture described
herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Note hereby waives all notice of the acceptance of the provisions contained herein and in the Indenture
and waives reliance by such holder upon said provisions. 
 This Note shall not be entitled to any benefit under the Indenture, or be valid or become
obligatory for any purpose, until the Certificate of Authentication hereon shall have been manually signed by or on behalf of the Trustee. The provisions of this Note are continued on the reverse side hereof, and such continued provisions shall for
all purposes have the same effect as though fully set forth at this place. 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed in accordance with the
Indenture. 
 Date: August 17, 2017 
  

			
	DXC TECHNOLOGY COMPANY
		
	By:	 	  

	Name:	 	Paul Saleh
	Title:	 	Executive Vice President, Chief Financial Officer
		
	By:	 	  

	Name:	 	Neil A. Manna
	Title:	 	Principal Accounting Officer, Senior Vice President and Controller

  
 A-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Senior Floating Rate Notes due 2021 issued by DXC Technology Company of the series designated therein referred to in the
within-mentioned Indenture. 
 Date: August 17, 2017 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-4 

 DXC Technology Company 

Senior Floating Rate Notes due 2021 

This note is one of a duly authorized series of debt securities of DXC Technology Company (f.k.a. Everett SpinCo, Inc.), a Nevada corporation
(the “Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s debentures, notes or other debt instruments evidencing its Indebtedness, dated as of March 27, 2017 (the
“Base Indenture”), duly executed and delivered by and among the Company and U.S. Bank National Association (the “Trustee”), as supplemented by the Fourth Supplemental Indenture, dated as of August 17, 2017 (the
“Fourth Supplemental Indenture”), by and between the Company and the Trustee. The Base Indenture as supplemented and amended by the Fourth Supplemental Indenture is referred to herein as the “Indenture.” By the
terms of the Base Indenture, the debt securities issuable thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This note is one of the series
designated on the face hereof (individually, a “Note,” and collectively, the “Notes”), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and
immunities of the Trustee, the Company and the Holders of the Notes (the “Holders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Fourth Supplemental
Indenture, as applicable. 
 1. Interest Rate. The interest rate for the Initial Interest Period means the Three-Month LIBOR, as
determined on August 15, 2017, plus a margin of 0.95%. Thereafter, the interest rate for any Interest Period will be the Three-Month LIBOR, as determined on the applicable Interest Determination Date, plus a margin of 0.95%. Interest on the
Notes shall be computed and paid on the basis of the actual number of days in the relevant Initial Interest Period or Interest Period divided by 360. The interest rate will be reset quarterly on each Interest Reset Date. The interest rate applicable
to each Interest Period commencing on the related Interest Reset Date, or August 17, 2017 in the case of the Initial Interest Period, will be the rate determined as of the applicable Interest Determination Date. 

Method of Payment. Interest shall be payable quarterly on each Interest Payment Date to Holders of record on the Record Date. Interest
on the Notes shall accrue from and including the date the Notes are issued or from and including the most recent Interest Payment Date. If any Interest Payment Date, other than the maturity date, would otherwise be a day that is not a Business Day,
the Interest Payment Date shall be postponed to the immediately succeeding day that is a Business Day, with the same force and effect as if made on the date such payment was due, except that if that Business Day is in the immediately succeeding
calendar month, the Interest Payment Date shall be the immediately preceding Business Day. If the maturity date of the Notes falls on a day that is not a Business Day, the payment of principal and interest will be made on the next succeeding
Business Day, and no interest on such payment will accrue for the period from and after the maturity date. The Company shall make payments in respect of the Notes in global form (including principal, premium, if any, and interest) by wire transfer

  
 A-5 

 
of immediately available funds to the accounts specified by DTC or its nominee. The interest rate on the Notes shall be reset quarterly on each Interest Reset Date, provided that if any Interest
Reset Date would otherwise be a day that is not a Business Day, the Interest Reset Date will be postponed to the immediately succeeding day that is a Business Day, except that if that Business Day is in the immediately succeeding calendar month, the
Interest Reset Date shall be the immediately preceding Business Day. Promptly upon calculation, the Calculation Agent will inform the Company of the interest rate for the next Interest Period. Upon request from any Holder of the Notes, the
Calculation Agent will provide the interest rate in effect for such Notes for the current Interest Period and, if it has been determined, the interest rate to be in effect for the next Interest Period. 

All percentages resulting from any calculation of the interest rate on the Notes will be rounded to the nearest one millionth of a percentage
point with five ten millionths of a percentage point rounded upwards (e.g., 9.8765445% (or .098765445) would be rounded to 9.876545% (or .09876545)), and all dollar amounts used in or resulting from such calculation on the Notes will be rounded to
the nearest cent (with one-half cent being rounded upwards). 
 Notwithstanding the foregoing, the
interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application. Additionally, the interest rate on the Notes will in no event be lower
than zero. 
 2. Paying Agent, Calculation Agent and Registrar. Initially, the Trustee will act as paying agent, Calculation Agent and
Registrar. The Company may change or appoint any paying agent, Calculation Agent or Registrar without notice to any Holder. 
 3.
Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (“Trust Indenture Act”) as in effect on the date the Indenture is
qualified. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of such terms. The Notes are senior unsecured obligations of the Company and constitute the series designated
on the face hereof as the “Senior Floating Rate Notes due 2021”, initially limited to $650,000,000 in aggregate principal amount. The Company will furnish to any Holders upon written request and without charge a copy of the Base Indenture
and the Fourth Supplemental Indenture. Requests may be made to: DXC Technology Company, 1775 Tysons Boulevard, Tysons, Virginia 22102, Attention: General Counsel. 

4. Redemption. The Notes shall be redeemable, as a whole or in part, at the Company’s option, on August 20, 2018 or at any
time or from time to time thereafter at a Redemption Price equal to 100% of the aggregate principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but not including, the Redemption Date, as provided in Section 1.05 of
the Fourth Supplemental Indenture. 

  
 A-6 

 5. Mandatory Redemption or Sinking Fund. The Company is not required to make mandatory
redemption or sinking fund payments with respect to the Notes. 
 6. Change of Control Triggering Event. If a Change of Control
Triggering Event occurs with respect to the Notes, unless the Company has redeemed such Notes as described in Section 1.05 of the Fourth Supplemental Indenture, the Company will make an offer to each Holder of such Notes to repurchase all or
any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price, payable in cash, equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid
interest, on the Notes repurchased to the date of repurchase. Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that
constitutes or may constitute the Change of Control, a notice will be sent to Holders of the Notes, with a copy to the Trustee, describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to
repurchase such Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 90 days from the date such notice is mailed, in accordance with Section 1.06(d) of the Fourth Supplemental Indenture. 

7. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in minimum denominations of $2,000 or any
integral multiple of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in Section 1.04 and Section 1.08 of the Fourth Supplemental Indenture and Section 1.09 and Section 2.08
of the Base Indenture. The Notes may be presented for exchange or for registration of transfer at the office of the Company or its agency designated by the Company for such purpose. 

8. Persons Deemed Owners. The person in whose name this Note is registered may be treated as its owner for all purposes. 

9. Repayment to the Company. The Trustee and the paying agent shall pay to the Company upon request any money held by them for the
payment of principal and interest that remains unclaimed for two years. After that, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 

10. Amendments, Supplements and Waivers. Subject to certain exceptions, the Company and the Trustee may amend or supplement the
Indenture and the Notes with the written consent (including consents obtained in connection with a tender offer or exchange offer for Notes) of the Holders of a majority in principal amount of the then outstanding Notes, and compliance with any
provision of the Indenture and the Notes may be waived with the written consent (including consents obtained in connection with a tender offer or exchange offer for Notes) of the Holders of a majority in principal amount of the then outstanding
Notes. The Company and the Trustee may amend or supplement the Indenture and the Notes without notice to or consent of any Holder as provided in the Indenture, including, without limitation, to maintain the qualification of the Indenture under the
Trust Indenture Act or to cure any ambiguity, defect or inconsistency or make any change that would not adversely affect the legal rights under the Indenture of any Holder in any material respect. 

  
 A-7 

 11. Defaults and Remedies. If an Event of Default with respect to the Notes occurs and is
continuing (other than an Event of Default in Section 1.07(a)(v) or 1.07(a)(vi) of the Fourth Supplemental Indenture), then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Notes may
declare the principal amount of and accrued and unpaid interest, if any, on all the Notes to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon such declaration such principal
amount and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Sections 1.07(a)(v) or 1.07(a)(vi) of the Fourth Supplemental Indenture shall occur, the principal of and accrued and
unpaid interest, if any, on all outstanding Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of outstanding Notes. Subject to the terms of the
Indenture, if an Event of Default under the Indenture shall occur and be continuing, the Trustee will be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request or direction of any of the Holders
unless such Holders shall have offered the Trustee security or indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, the Holders of a majority in principal amount of the outstanding Notes shall have the
right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Notes. 

12. Trustee May Hold Securities. The Trustee, subject to certain limitations imposed by the Trust Indenture Act, in its individual or
any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not Trustee, paying agent or Registrar. 

13. No Recourse Against Others. A director, officer, employee or stockholder (past or present), as such, of the Company shall not have
any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability.
The waiver and release are part of the consideration for the issue of the Notes. 
 14. Discharge of Indenture. The Indenture contains
certain provisions pertaining to discharge and defeasance, which provisions shall for all purposes have the same effect as if set forth herein. 

15. Authentication. This Note shall not be valid until the Trustee manually signs the certificate of authentication attached to the
other side of this Note. 
 16. Trust Indenture Act Controls. This Indenture incorporates and is governed by the provisions of the
Trust Indenture Act that are required to be part of and to govern indentures qualified under the Trust Indenture Act. If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by the Trust Indenture Act, the imposed
duties shall control. 

  
 A-8 

 17. Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

18. Governing Law. THE INDENTURE AND THIS NOTE, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THIS
NOTE, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

  
 A-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to: 

 

                          
                                         
                          

    (Insert assignee’s legal name) 
  

 
 (Insert assignee’s soc. sec. or
tax I.D. no.) 
  
  

 
  
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                         
                                         
                                         
  agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

Date:                        

  
  

 

	
	Your
Signature:                                       
                 
	(Sign exactly as your name appears on the face of this Note)

  

			
	Signature Guarantee:	 	      

		 	(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee))

  
 B-1 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 1.06(d) of the Fourth Supplemental Indenture, check
the box: 
 ☐     1.06(d) Change of Control Triggering Event 

If you want to elect to have only part of this Note purchased by the Company pursuant to Section 1.06(d) of the Fourth Supplemental
Indenture, state the amount: $                    . 
  

			
	Date:
                                         
                       	  	Your Signature:
                                         
                               
		  	(Sign exactly as your name appears on the other side of the Note)
		
		  	Tax I.D.number:
                                         
                               

  

			
	Signature Guarantee:	 	      

		 	(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee))

  
 B-2 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Security, or exchanges of a
part of another Global Note or Definitive Security for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in
Principal Amount of this
Global
Note
	 	 Amount of increase in
Principal Amount of this
Global
Note
	  	 Principal Amount of this
Global Note following
such
decrease (or
increase)
	  	 Signature of authorized
officer of Trustee
or
custodian

  
 B-3Exhibit

Exhibit 10.1

Execution Copy
 
Confidential Treatment Requested
Confidential Materials omitted and filed separately with the
Securities and Exchange Commission.
Asterisks denote omissions.

WEBBANK
and
LENDINGCLUB CORPORATION

LOAN AND RECEIVABLE SALE AGREEMENT

Dated as of February 25, 2016

This LOAN AND RECEIVABLE SALE AGREEMENT (this “Agreement”), dated as of February 25, 2016 (“Effective Date”), is made by and between WEBBANK, a Utah-chartered industrial bank having its principal location in Salt Lake City, Utah (“Bank”), and LENDINGCLUB CORPORATION, a Delaware corporation, having its principal location in San Francisco, California (“Company”).

WHEREAS, Bank desires to sell to Company, and Company desires to purchase from Bank, certain Loans and Receivables established by Bank pursuant to the Marketing Agreement;

WHEREAS, Bank and Company previously entered into a Third Amended and Restated Loan Sale Agreement dated as of March 10, 2015 (as amended from time to time, the “Existing Sale Agreement”), pursuant to which Company agreed to purchase certain loan accounts and receivables originated by Bank; and 

WHEREAS, Bank and Company desire to amend and restate the Existing Sale Agreement on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the foregoing and the terms, conditions and mutual covenants and agreements herein contained, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Bank and Company agree as follows:

		
	1.
	Definitions; Effectiveness.  

		
	(a)
	The terms used in this Agreement shall be defined as set forth in Schedule 1, and the rules of construction set forth in Schedule 1 shall apply to this Agreement.  Terms not defined herein shall have the meanings ascribed to them in the Marketing Agreement.

		
	(b)
	This Agreement shall be effective as of the Effective Date and, as of the Effective Date, shall supersede and replace the Existing Sale Agreement (except that, as provided in section 1(c), the Existing Sale Agreement will govern the purchase of Loans originated prior to the Effective Date).  This Agreement shall apply to all Loans originated by Bank during the term of this Agreement, beginning on the Effective Date.  Loans originated on or after the Effective Date shall not be subject to the Existing Sale Agreement.

		
	(c)
	All Loans originated by Bank prior to the Effective Date shall be governed by the terms of the Existing Sale Agreement as in effect at the time that such Loans were originated, and shall not be subject to the terms of this Agreement.

		
	(d)
	This Agreement shall not operate so as to render invalid or improper any action heretofore taken under the Existing Sale Agreement.

		
	2.
	Purchase of Loans and Receivables; Payment to Bank; Reporting to Bank.  The terms of Schedule 2 shall apply as if fully set forth in this Agreement.

		
	3.
	Ownership of Borrower Accounts and Loans.  

		
	(a)
	On and after each Closing Date, subject to Company’s payment of the Purchase Price (inclusive of the agreement to pay the Loan Trailing Fee) on each such date, Company shall be the sole owner for all purposes (e.g., tax, accounting and legal) of the Loans and Receivables purchased from Bank on such date, except as set forth on Schedule 2.  Bank 

-1-

agrees to make entries on its books and records to clearly indicate the sale of the Loans and Receivables to Company as of each Closing Date.  Company agrees to make entries on its books and records to clearly indicate the purchase of the Loans and Receivables as of each Closing Date.  On and after each Closing Date, Bank shall remain the owner of each Borrower Account, and Bank and Company each agree to make entries on their respective books and records to clearly indicate the ownership by Bank of the Borrower Accounts.

		
	(b)
	Bank does not assume and shall not have any liability to Company for the repayment of any Loan Proceeds or the servicing of the Loans after the related Closing Date.

		
	(c)
	With respect to each Loan Advance made by Bank, where Bank sells the related Receivable to Company, Bank sells, transfers, assigns, sets over and otherwise conveys to Company the Receivable attributable to such Loan Advance, including all rights to refunds, credits or adjustments, all interest accruing on such Receivable, all collections on such Receivable, and all proceeds of the foregoing, without recourse, in accordance with the provisions of Schedule 2 on the related Closing Date.

		
	(d)
	With respect to Lines of Credit, Bank shall retain ownership of the Loans after each Closing Date.  Company agrees to make entries on its books and records to clearly indicate Bank’s ownership of the Lines of Credit as of each Purchase Date.  Bank does not assume and shall not have any liability to Company for the repayment of any Receivable.

		
	(e)
	Subject to the provisions of Sections 3(e)(1) and 3(e)(2), Company (or any subsequent transferee of Company) may (i) securitize the Loans or Receivables, or any amounts owing thereunder, or (ii) issue an “asset-backed security” (as defined under 17 C.F.R. § 229.1101(c) or Section 3(a)(77) of the Securities Exchange Act of 1934) backed by the Loans or Receivables or any amounts owing thereunder, in each case (either an “ABS Transaction”), without the prior written consent of Bank except to the extent required by Section 3(e)(2).  

		
	(1)
	(I) With respect to any ABS Transaction by Company or a Direct Transferee, Company shall ensure that, and (II) with respect to any ABS Transaction by any other direct or indirect transferee of Loans or Receivables, Company shall use commercially reasonable efforts to secure that, in each case: (i) Bank will not be required to maintain any ongoing ownership interest in the securitized Loans or Receivables after the sale thereof to Company, and (ii) Bank shall not be deemed to be a “sponsor” or “depositor” under any rule, regulation or order of the Securities and Exchange Commission with respect to such transaction.  

		
	(2)
	Bank will not be required to take any action that would: (i) impair its rights or remedies under the Program Documents, (ii) increase its obligations beyond those obligations set forth in the Program Documents, (iii) increase its liabilities beyond those set forth in the Program Documents, or (iv) cause Bank to incur any costs or expenses that are not promptly reimbursed by Company. Company agrees (I) that it shall, and that it shall require each Direct Transferee or Affiliate of such Person to, obtain Bank’s written approval as to any publicly filed document or document made available to a third-party regarding securitization 

-2-

documentation that identifies Bank by name or provides a description of the Program and (II) that it shall use commercially reasonable efforts to require any  subsequent transferee not covered by (I) above to obtain Bank’s written approval as to any publicly filed document or document made available to a third party regarding securitization documentation that identifies Bank by name or provides a description of the Program.  As to any Direct Transferee (or Affiliate thereof) or any subsequent transferee, Bank will not unreasonably withhold, delay or condition its approval.  Company shall include a provision in any agreement by which Company sells or transfers Loans requiring such transferee to obtain Bank’s approval as contemplated in the prior two sentences, and requiring such transferee to include such a provision in subsequent transfers of the Loans.  Company shall ensure that final copies of all offering documents and investor presentations in connection with any such transaction are promptly provided to Bank.

		
	(3)
	Company shall ensure that any transferee of the Loans or Receivables from Company undertakes to comply with the provisions of this Section 3(e) to the same extent as applicable to Company directly.  

		
	4.
	Representations and Warranties of Bank.  

		
	(a)
	Bank hereby represents and warrants to Company as of the Effective Date of this Agreement and as of each Closing Date that:

		
	(1)
	Bank is an FDIC-insured Utah-chartered industrial bank, duly organized, validly existing under the laws of the State of Utah and has full corporate power and authority to execute, deliver, and perform its obligations under this Agreement; the execution, delivery and performance of this Agreement and the transfer of the Loans and Receivables have been duly authorized and are not in conflict with and do not violate the terms of the charter or bylaws of Bank and will not result in a material breach of or constitute a default under, or require any consent under, any indenture, loan or agreement to which Bank is a party;

		
	(2)
	All approvals, authorizations, licenses, registrations, consents, and other actions by, notices to, and filings with, any Person that may be required in connection with the execution, delivery, and performance of this Agreement by Bank, have been obtained;

		
	(3)
	This Agreement constitutes a legal, valid, and binding obligation of Bank, enforceable against Bank in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws now or hereafter in effect (including the rights and obligations of receivers and conservators under 12 U.S.C. §§ 1821(d) and (e)), which may affect the enforcement of creditors’ rights in general, and (ii) as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity);

-3-

		
	(4)
	There are no proceedings or investigations pending or, to the best knowledge of Bank, threatened against Bank (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions contemplated by Bank pursuant to this Agreement, (iii) seeking any determination or ruling that, in the reasonable judgment of Bank, would materially and adversely affect the performance by Bank of its obligations under this Agreement, (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement or (v) would have a materially adverse financial effect on Bank or its operations if resolved adversely to it; provided, however, that Bank makes no representation or warranty regarding the examination of Bank by the FDIC or the Utah Department of Financial Institutions, or any actions resulting from such examination; 

		
	(5)
	Bank is not Insolvent; 

		
	(6)
	The execution, delivery and performance of this Agreement by Bank comply with Utah and federal banking laws specifically applicable to Bank’s operations; provided that, except as expressly set forth herein, Bank makes no representation or warranty regarding compliance with Utah or federal banking laws relating to consumer or other borrower protection, consumer or business lending, usury, loan collection, anti-money laundering, data security or privacy; 

		
	(7)
	To the extent that Bank receives non-public personally identifiable information from the Company or the Borrower, Bank will comply with all Applicable Laws related to the protection and retention of such information; and 

		
	(8)
	With respect to each Loan and Receivable sold on any Closing Date by Bank to Company, (i) Bank has not taken any action (directly or indirectly, voluntarily or involuntarily): (x) to alter the terms or conditions of such Loan or Receivable or (y) that could be reasonably expected to impair the enforceability of such Loans or Receivables (except that such representation does not extend to any action by Company or its agents); or (ii) upon Bank’s receipt of the related Purchase Price (inclusive of the agreement to pay the Loan Trailing Fee), Bank shall have conveyed to Company all of Bank’s right, title and interest in such Loans and Receivables subject to no prior security interest in favor of any other creditor of Bank.

		
	(b)
	The representations and warranties set forth in this Section 4 shall survive the sale, transfer and assignment of the Loans and Receivables to Company pursuant to this Agreement and, with the exception of those representations and warranties contained in subsection 4(a)(4), shall be made continuously throughout the term of this Agreement.  In the event that any investigation or proceeding of the nature described in subsection 4(a)(4) is instituted or threatened against Bank, Bank shall promptly notify Company of such pending or threatened investigation or proceeding (unless prohibited from doing so by Applicable Laws or the direction of a Regulatory Authority).

		
	5.
	Representations and Warranties of Company.  

-4-

		
	(a)
	Company hereby represents and warrants to Bank, as of the Effective Date and each Closing Date that:

		
	(1)
	Company is a corporation, duly organized and validly existing in good standing under the laws of the State of Delaware, and has full power and authority to execute, deliver, and perform its obligations under this Agreement; the execution, delivery, and performance of this Agreement have been duly authorized, and are not in conflict with and do not violate the terms of the articles or bylaws of Company and will not result in a material breach of or constitute a default under or require any consent under any indenture, loan, or agreement to which Company is a party;

		
	(2)
	All approvals, authorizations, consents, and other actions by, notices to, and filings with any Person required to be obtained for the execution, delivery, and performance of this Agreement by Company, have been obtained;

		
	(3)
	This Agreement constitutes a legal, valid, and binding obligation of Company, enforceable against Company in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or other similar laws now or hereafter in effect, which may affect the enforcement of creditors’ rights in general, and (ii) as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); 

		
	(4)
	There are no proceedings or investigations pending or, to the best knowledge of Company, threatened against Company (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions contemplated by Company pursuant to this Agreement, (iii) seeking any determination or ruling that, in the reasonable judgment of Company, would materially and adversely affect the performance by Company of its obligations under this Agreement, (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement or (v) that would have a materially adverse financial effect on Company or its operations if resolved adversely to it; 

		
	(5)
	Company is not Insolvent; and

		
	(6)
	The execution, delivery and performance of this Agreement by Company comply with Applicable Laws.

		
	(b)
	The representations and warranties set forth in this Section 5 shall survive the sale, transfer and assignment of the Loans and Receivables to Company pursuant to this Agreement and, with the exception of those representations and warranties contained in subsection 5(a)(4), shall be made continuously throughout the term of this Agreement.  In the event that any investigation or proceeding of the nature described in subsection 5(a)(4) is instituted or threatened against Company, Company shall promptly notify Bank of such pending or threatened investigation or proceeding (unless prohibited from doing so by Applicable Laws or the direction of a Regulatory Authority).

-5-

		
	6.
	Conditions Precedent to the Obligations of Company.  The obligations of Company under this Agreement are subject to the satisfaction of the following conditions precedent on or prior to each Closing Date:

		
	(a)
	As of each Closing Date, no action or proceeding shall have been instituted or, to Company’s knowledge, threatened against Company or Bank to prevent or restrain the consummation of the transactions contemplated hereby, and, on each Closing Date, there shall be no injunction, decree, or similar restraint preventing or restraining such consummation;

		
	(b)
	The representations and warranties of Bank set forth in Section 4 shall be true and correct in all material respects, unless waived by Company, on each Closing Date as though made on and as of such date; and

		
	(c)
	The obligations of Bank set forth in this Agreement to be performed on or before each Closing Date shall have been performed in all material respects, unless waived by Company, as of such date by Bank.

		
	7.
	Conditions Precedent to the Obligations of Bank.  The obligations of Bank in this Agreement are subject to the satisfaction of the following conditions precedent on or prior to each Closing Date:

		
	(a)
	As of each Closing Date, no action or proceeding shall have been instituted or, to Bank’s knowledge, threatened against Company or Bank to prevent or restrain the consummation of the purchase or other transactions contemplated hereby, and, on each Closing Date, there shall be no injunction, decree, or similar restraint preventing or restraining such consummation;

		
	(b)
	The representations and warranties of Company set forth in the Program Documents shall be true and correct in all material respects, unless waived by Bank, on each Closing Date as though made on and as of such date; and 

		
	(c)
	The obligations of Company set forth in the Program Documents to be performed on or before each Closing Date shall have been performed in all material respects, unless waived by Bank, as of such date by Company.

		
	8.
	Term and Termination.  

		
	(a)
	This Agreement shall have an initial term beginning on the Effective Date and ending on January 31, 2020 (the “Initial Term”) and shall renew automatically for two (2) successive terms of one (1) year each (each a “Renewal Term,” collectively, the Initial Term and Renewal Term(s) shall be referred to as the “Term”), unless either Party provides notice of non-renewal to the other Party at least one hundred eighty (180) days prior to the end of the Initial Term or any Renewal Term or this Agreement is earlier terminated in accordance with the provisions hereof.

		
	(b)
	A Party shall have the right to terminate this Agreement immediately upon written notice to the other Party in any of the following circumstances:

-6-

		
	(1)
	any representation or warranty made by the other Party in this Agreement shall be incorrect in any material respect and shall not have been corrected within thirty (30) Business Days after written notice thereof has been given to such other Party;

		
	(2)
	the other Party shall default in the performance of any obligation or undertaking under this Agreement and such default shall continue for thirty (30) Business Days after written notice thereof has been given to such other Party;

		
	(3)
	the other Party shall commence a voluntary case or other proceeding seeking liquidation, reorganization, or other relief with respect to itself or its debts under any bankruptcy, insolvency, receivership, conservatorship or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, conservator, custodian, or other similar official of it or any substantial part of its property, or shall consent to any such relief or to the appointment of a trustee, receiver, liquidator,  conservator, custodian, or other similar official or to any involuntary case or other similar proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due, or shall take any corporate action to authorize any of the foregoing; 

		
	(4)
	an involuntary case or other proceeding, whether pursuant to banking regulations or otherwise, shall be commenced against the other Party seeking liquidation, reorganization, or other relief with respect to it or its debts under any bankruptcy, insolvency, receivership, conservatorship or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, conservator, custodian, or other similar official of it or any substantial part of its property or an order for relief shall be entered against the other Party under the federal bankruptcy laws as now or hereafter in effect;

		
	(5)
	there is a materially adverse change in the financial condition of the other Party; or

		
	(6)
	either Party has terminated the Marketing Agreement and any applicable notice period provided in the Marketing Agreement has expired.

		
	(c)
	In addition to the foregoing termination rights, Bank may terminate this Agreement immediately upon written notice to Company (i) if Company defaults on its obligation to make a payment to Bank as provided in Schedule 2 of this Agreement or Section 3.2(d) of the Servicing Agreement and fails to cure such default within one (1) Business Day of receiving notice of such default from Bank; (ii) if Company defaults on its obligation to make a payment to Bank as provided in Schedule 2 of this Agreement or Section 3.2(d) of the Servicing Agreement more than once in any three (3) month period; (iii) if Company fails to maintain the Required Balance in the Collateral Account as required by Section 31 or Schedule 31 of this Agreement; or (iv) if Bank is deemed to be a “sponsor” or “securitizer” under any rule, regulation or order of the Securities and Exchange Commission with respect to any security issued by Company (or its affiliates). 

-7-

		
	(d)
	The termination of this Agreement either in part or in whole shall not discharge any Party from any obligation incurred prior to such termination, including any obligation with respect to Loans or Receivables sold prior to such termination.  

		
	(e)
	Following termination of this Agreement, Company shall purchase any Loans established by Bank under the Marketing Agreement prior to and on the date of termination of the Marketing Agreement that have not already been purchased by Company and any Loans originated by Bank after termination of this Agreement, if such Loans are originated in accordance with Section 10(e) of the Marketing Agreement.  

		
	(f)
	Bank may terminate this Agreement immediately upon written notice to Company if Bank incurs any Loss that would have been subject to indemnification under Section 10(a) but for the application of Applicable Laws that limit or restrict Bank’s ability to seek such indemnification.

		
	(g)
	The terms of this Section 8 shall survive the expiration or earlier termination of this Agreement.  

		
	9.
	Confidentiality.  

		
	(a)
	Each Party agrees that Confidential Information of the other Party shall be used by such Party solely in the performance of its obligations and exercise of its rights pursuant to the Program Documents.  Except as required by Applicable Laws or legal process, neither Party (the “Restricted Party”) shall disclose Confidential Information of the other Party to third parties; provided, however, that the Restricted Party may disclose Confidential Information of the other Party (i) to the Restricted Party’s Affiliates, agents, representatives or subcontractors for the sole purpose of fulfilling the Restricted Party’s obligations under this Agreement (as long as the Restricted Party exercises reasonable efforts to prohibit any further disclosure by its Affiliates, agents, representatives or subcontractors), provided that in all events, the Restricted Party shall be responsible for any breach of the confidentiality obligations hereunder by any of its Affiliates, agents (other than Company as agent for Bank), representatives or subcontractors, (ii) to the Restricted Party’s auditors, accountants and other professional advisors (provided such receiving party is subject to confidentiality obligations at least as stringent as those set forth herein and the Restricted Party shall be responsible for any breach of confidentiality obligations by such receiving party), or to a Regulatory Authority, or (iii) to any other third party as mutually agreed by the Parties.  

		
	(b)
	A Party’s Confidential Information shall not include information that:

		
	(1)
	is generally available to the public;

		
	(2)
	has become publicly known, without fault on the part of the Party who now seeks to disclose such information (the “Disclosing Party”), subsequent to the Disclosing Party acquiring the information;

		
	(3)
	was otherwise known by, or available to, the Disclosing Party prior to entering into this Agreement; or

-8-

		
	(4)
	becomes available to the Disclosing Party on a non-confidential basis from a Person, other than a Party to this Agreement, who is not known by the Disclosing Party after reasonable inquiry to be bound by a confidentiality agreement with the non-Disclosing Party or otherwise prohibited from transmitting the information to the Disclosing Party.  

		
	(c)
	Upon written request or upon the termination of this Agreement, each Party shall, within thirty (30) days, return to the other Party all Confidential Information of the other Party in its possession that is in written form, including by way of example, but not limited to, reports, plans, and manuals; provided, however, that either Party may maintain in its possession all such Confidential Information of the other Party required to be maintained under Applicable Laws relating to the retention of records for the period of time required thereunder.

		
	(d)
	In the event that a Restricted Party is requested or required (by oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process) to disclose any Confidential Information of the other Party, the Restricted Party will provide the other Party with prompt notice of such request(s) so that the other Party may seek an appropriate protective order or other appropriate remedy and/or waive the Restricted Party’s compliance with the provisions of this Agreement.  In the event that the other Party does not seek such a protective order or other remedy, or such protective order or other remedy is not obtained, or the other Party grants a waiver hereunder, the Restricted Party may furnish that portion (and only that portion) of the Confidential Information of the other Party which the Restricted Party is legally compelled to disclose and will exercise such efforts to obtain reasonable assurance that confidential treatment will be accorded any Confidential Information of the other Party so furnished as the Restricted Party would exercise in assuring the confidentiality of any of its own Confidential Information.

		
	(e)
	The terms of this Section 9 shall survive the expiration or earlier termination of this Agreement.

		
	10.
	Indemnification.

		
	(a)
	Company agrees to defend, indemnify, and hold harmless Bank and its Affiliates, and the officers, directors, employees, representatives, shareholders, agents and attorneys of such entities (the “Indemnified Parties”) from and against any and all claims, actions, liability, judgments, damages, costs and expenses, including reasonable attorneys’ fees (“Losses”) to the extent arising from Bank’s participation in the Program and the Prior Programs as contemplated by the Program Documents and the Prior Program Documents (including Losses arising from a violation of Applicable Laws or a breach by Company or its agents or representatives of any of Company’s representations, warranties, obligations or undertakings under the Program Documents and the Prior Program Documents).  Notwithstanding the foregoing, Company shall not be obligated to indemnify any Indemnified Parties to the extent of: (i) Losses that arise from the gross negligence or willful misconduct of Bank, or its officers, directors, employees or agents (other than Company and its agents), or (ii) Excluded Servicing Losses.

-9-

		
	(b)
	To the extent permitted by Applicable Laws, any Indemnified Party seeking indemnification hereunder shall promptly notify Company, in writing, of any notice of the assertion by any third party of any claim or of the commencement by any third party of any legal or regulatory proceeding, arbitration or action, or if the Indemnified Party determines the existence of any such claim or the commencement by any third party of any such legal or regulatory proceeding, arbitration or action, whether or not the same shall have been asserted or initiated, in any case with respect to which Company is or may be obligated to provide indemnification (an “Indemnifiable Claim”), specifying in reasonable detail the nature of the claim and, if known, the amount or an estimate of the amount of the Loss; provided, that failure to promptly give such notice shall only limit the liability of Company to the extent of the actual prejudice, if any, suffered by Company as a result of such failure.  The Indemnified Party shall provide to Company as promptly as practicable thereafter information and documentation reasonably requested by Company to defend against the Indemnifiable Claim.

		
	(c)
	Company shall have ten (10) days after receipt of any notification of an Indemnifiable Claim (a “Claim Notice”) to notify the Indemnified Party in writing of Company’s election to assume the defense of the Indemnifiable Claim and, through counsel of the Company’s own choosing, and at its own expense, to commence the settlement or defense thereof, and the Indemnified Party shall cooperate with Company in connection therewith if such cooperation is so requested and the request is reasonable; provided that Company shall hold the Indemnified Party harmless from all its reasonable out-of-pocket expenses, including reasonable attorneys’ fees, incurred in connection with the Indemnified Party’s cooperation; provided, further, that if the Indemnifiable Claim relates to a matter before a Regulatory Authority, the Indemnified Party may elect, upon written notice to Company (the “Assumption Notice”), to assume the defense of the Indemnifiable Claim at the cost of and with the cooperation of Company.  If the Company assumes responsibility for the settlement or defense of any such claim, (i) Company shall permit the Indemnified Party to participate at the Indemnified Party’s expense (for which no claim of Losses shall be made) in such settlement or defense through counsel chosen by the Indemnified Party; provided that, in the event that both Company and the Indemnified Party are defendants in the proceeding and the Indemnified Party has reasonably determined and notified Company that representation of both parties by the same counsel would be inappropriate due to the actual or potential differing interests between them, then the reasonable fees and expenses of one such counsel for all Indemnified Parties in the aggregate shall be borne by Company; and (ii) Company shall not settle any Indemnifiable Claim without the Indemnified Party’s consent.

		
	(d)
	If the Company does not notify the Indemnified Party in writing within ten (10) days after receipt of the Claim Notice that it elects to undertake the defense of the Indemnifiable Claim described therein, or if Company fails to contest vigorously any such Indemnifiable Claim, or if the Indemnified Party elects to control the defense of an Indemnifiable Claim before a Regulatory Authority as permitted by Section 10(c), then, in each case, the Indemnified Party shall have the right, upon reasonable written notice to the Company, to contest, settle or compromise the Indemnifiable Claim in the exercise of its reasonable discretion; provided that the Indemnified Party shall notify Company in writing prior thereto of any compromise or settlement of any such Indemnifiable Claim.  

-10-

No action taken by the Indemnified Party pursuant to this paragraph (d) shall deprive the Indemnified Party of its rights to indemnification pursuant to this Section 10.

		
	(e)
	All amounts due under this Section 10 shall be payable not later than ten (10) days after receipt of the written demand therefor.

		
	(f)
	The terms of this Section 10 shall survive the expiration or earlier termination of this Agreement.

		
	11.
	Assignment.  This Agreement and the rights and obligations created under it shall be binding upon and inure solely to the benefit of the Parties and their respective successors, and permitted assigns.  Neither Party shall be entitled to assign or transfer any interest under this Agreement without the prior written consent of the other Party.  No assignment under this section shall relieve a Party of its obligations under this Agreement.       

		
	12.
	Third Party Beneficiaries.  Nothing contained herein shall be construed as creating a third-party beneficiary relationship between either Party and any other Person.

		
	13.
	Proprietary Material.  Bank hereby provides Company with a non-exclusive right and non-assignable license to use and reproduce Bank’s name, logo, registered trademarks and service marks (collectively “Proprietary Material”) as necessary to fulfill each Party’s obligations under this Agreement; provided, however, that (a) Company shall obtain Bank’s prior written approval for the use of Proprietary Material and such use shall at all times comply with written instructions provided by Bank regarding the use of its Proprietary Material; and (b) Company acknowledges that, except as specifically provided in this Agreement, it will acquire no interest in Bank’s Proprietary Material.  Upon termination of this Agreement, Company will cease using Bank’s Proprietary Material.  

		
	14.
	Notices.  All notices and other communications that are required or may be given in connection with this Agreement shall be in writing and shall be deemed received (a) on the day delivered, if delivered by hand; (b) or the day transmitted, if transmitted by facsimile or e-mail with receipt confirmed; or (c) three (3) Business Days after the date of mailing to the other party, if mailed first-class mail postage prepaid, at the following address, or such other address as either party shall specify in a notice to the other:

    

-11-

	
				
	 
	To Bank:
	 
	WebBank

	 
	 
	 
	Attn: Senior Vice President – Strategic Partners

	 
	 
	 
	215 S. State Street, Suite 1000

	 
	 
	 
	Salt Lake City, UT  84111

	 
	 
	 
	Tel. (801) 456-8398

	 
	 
	 
	Fax:  (801) 456-8398

	 
	 
	 
	Email: strategicpartnerships@webbank.com

	 
	 
	 
	 

	 
	With a copy to:
	 
	WebBank

	 
	 
	 
	Attn:  Chief Compliance Officer

	 
	 
	 
	215 S. State Street, Suite 1000

	 
	 
	 
	Salt Lake City, UT  84111

	 
	 
	 
	Tel. (801) 456-8397

	 
	 
	 
	Fax:  (801) 456-8397

	 
	 
	 
	Email: complianceofficer@webbank.com

	 
	 
	 
	 

	 
	To Company:
	 
	LendingClub Corporation

	 
	 
	 
	71 Stevenson, Suite 300

	 
	 
	 
	San Francisco, CA 94105

	 
	 
	 
	Attn:  Renaud Laplanche, Chief Executive Officer

	 
	 
	 
	E-mail Address:  rlaplanche@lendingclub.com

	 
	 
	 
	Telephone: (415) 632-5667

	 
	 
	 
	Facsimile:  (415) 632-5608

	 
	 
	 
	 

	 
	With a copy to:
	 
	LendingClub Corporation

	 
	 
	 
	71 Stevenson, Suite 300

	 
	 
	 
	San Francisco, CA 94105

	 
	 
	 
	Attn:  General Counsel

	 
	 
	 
	E-mail Address:  jaltieri@lendingclub.com

	 
	 
	 
	Telephone: (415) 632-5666

	 
	 
	 
	Facsimile:  (415) 632-5608

		
	15.
	Relationship of Parties.  Bank and Company agree that in performing their responsibilities pursuant to this Agreement, they are in the position of independent contractors.  This Agreement is not intended to create, nor does it create and shall not be construed to create, a relationship of partner or joint venturer or any association for profit between and among Bank and Company.

		
	16.
	Retention of Records.  Any Records with respect to Loans purchased by Company pursuant hereto retained by Bank shall be held as custodian for the account of Bank and Company as owners thereof.  Bank shall provide copies of Records to Company upon reasonable request of Company. 

		
	17.
	Agreement Subject to Applicable Laws.  If (a) either Party has been advised by legal counsel of a change in Applicable Laws or any judicial decision of a court having jurisdiction over such Party 

-12-

or any interpretation of a Regulatory Authority that, in the view of such legal counsel, would have a materially adverse effect on the rights or obligations of such Party under this Agreement or the financial condition of such Party, (b) either Party receives a request of any Regulatory Authority having jurisdiction over such Party, including any letter or directive of any kind from any such Regulatory Authority, that prohibits or restricts such Party from carrying out its obligations under this Agreement, or (c) either Party has been advised by legal counsel that there is a material risk that such Party’s or the other Party’s continued performance under this Agreement would violate Applicable Laws, then the affected Party shall provide written notice to the other Party of such advisement or request and the Parties shall meet and consider in good faith any modifications, changes or additions to the Program or the Program Documents that may be necessary to eliminate such result.  Notwithstanding any other provision of the Program Documents, including Section 8 hereof, if the Parties are unable to reach agreement regarding such modifications, changes or additions to the Program or the Program Documents within ten (10) Business Days after the Parties initially meet, either Party may terminate this Agreement upon five (5) days’ prior written notice to the other Party.  A Party may suspend performance of its obligations under this Agreement, or require the other Party to suspend its performance of its obligations under this Agreement, upon providing the other Party with advance written notice, if any event described in subsection 17(a), (b) or (c) above occurs. 
		
	18.
	Expenses.  

		
	(a)
	Each Party shall bear the costs and expenses of performing its obligations under this Agreement, unless expressly provided otherwise in the Program Documents.  

		
	(b)
	Each Party shall be responsible for payment of any federal, state, or local taxes or assessments associated with the performance of its obligations under this Agreement.  

		
	(c)
	Company shall reimburse Bank for all reasonable third party fees incurred by Bank in connection with the performance of this Agreement.  

		
	(d)
	Company shall pay for Bank’s reasonable legal and other professional fees and expenses as provided in subsection 14(e) of the Marketing Agreement.

		
	(e)
	Within ten (10) days after receipt of an invoice from Bank, Company shall reimburse Bank for the monthly costs associated with the transfer of funds from the Collateral Account to Company. 

		
	(f)
	All fees payable pursuant to this Section 18 may be paid by wire, ACH, or check, as determined by the Company, but shall be paid pursuant to the terms of the Bank’s invoice.  Bank may assess a service charge of 1.5% per month on any amounts due under this Agreement that are thirty (30) days past due.

		
	(g)
	Unless otherwise agreed by the Parties, Company shall pay Bank a fee of [***] upon the approval by Bank of any agreement under which Bank sells Loans or Receivables directly to a Person with the consent of or at the direction of Company.

		
	19.
	Examination.  Each Party agrees to submit to any examination that may be required by a Regulatory Authority having jurisdiction over the other Party, during regular business hours and 

-13-

upon reasonable prior notice, and to otherwise provide reasonable cooperation to the other Party in responding to such Regulatory Authority’s inquiries and requests related to the Program.
		
	20.
	Inspection; Reports.  Each Party, upon reasonable prior notice from the other Party, agrees to submit to an inspection of its books, records, accounts, and facilities relevant to the Program, from time to time, during regular business hours subject, in the case of Bank, to the duty of confidentiality it owes to its customers and banking secrecy and confidentiality requirements otherwise applicable under Applicable Laws.  All expenses of inspection shall be borne by the Party conducting the inspection.  Notwithstanding the obligation of each Party to bear its own expenses of inspection, Company shall reimburse Bank for reasonable out of pocket expenses incurred by Bank in its performance of periodic on site reviews of Company’s financial condition, operations and internal controls. 

		
	21.
	Governing Law; Waiver of Jury Trial.  This Agreement shall be interpreted and construed in accordance with the laws of the State of Utah, without giving effect to the rules, policies, or principles thereof with respect to conflicts of laws.  THE PARTIES HEREBY EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING HEREUNDER.  The terms of this Section 21 shall survive the expiration or earlier termination of this Agreement.

		
	22.
	Manner of Payments.  Unless the manner of payment is expressly provided herein, all payments under this Agreement shall be made by ACH transfer to the bank accounts designated by the respective Parties.  Notwithstanding anything to the contrary contained herein, neither Party shall be excused from making any payment required of it under this Agreement as a result of a breach or alleged breach by the other Party of any of its obligations under this Agreement or any other agreement, provided that the making of any payment hereunder shall not constitute a waiver by the Party making the payment of any rights it may have under the Program Documents or by law.

		
	23.
	Brokers.  Neither Party has agreed to pay any fee or commission to any agent, broker, finder, or other person for or on account of services rendered as a broker or finder in connection with this Agreement or the transactions contemplated hereby that would give rise to any valid claim against the other Party for any brokerage commission or finder’s fee or like payment.

		
	24.
	Entire Agreement.  The Program Documents, including exhibits, constitute the entire agreement between the Parties with respect to the subject matter hereof, and supersede any prior or contemporaneous negotiations or oral or written agreements with regard to the same subject matter.

		
	25.
	Amendment and Waiver.  This Agreement may not be amended orally, but only by a written instrument signed by all Parties.  The failure of a Party to require the performance of any term of this Agreement or the waiver by a Party of any default under this Agreement shall not prevent a subsequent enforcement of such term and shall not be deemed a waiver of any subsequent breach.  All waivers must be in writing and signed by the Party against whom the waiver is to be enforced.

		
	26.
	Severability.  Any provision of this Agreement which is deemed invalid, illegal or unenforceable in any jurisdiction, shall, as to that jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining portions hereof in such jurisdiction or rendering such provision or any other provision of this Agreement invalid, illegal, or unenforceable in any other jurisdiction.

-14-

		
	27.
	Interpretation.  The Parties acknowledge that each Party and its counsel have reviewed and revised this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any amendments thereto, and the same shall be construed neither for nor against either Party, but shall be given a reasonable interpretation in accordance with the plain meaning of its terms and the intent of the Parties.  

		
	28.
	Jurisdiction; Venue.  The Parties consent to the personal jurisdiction and venue of the federal and state courts in Salt Lake City, Utah for any court action or proceeding.  The terms of this Section 28 shall survive the expiration or earlier termination of this Agreement.

		
	29.
	Headings.  Captions and headings in this Agreement are for convenience only and are not to be deemed part of this Agreement.

		
	30.
	Counterparts.  This Agreement may be executed and delivered by the Parties in any number of counterparts, and by different parties on separate counterparts, each of which counterpart shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same instrument.

		
	31.
	Collateral Account.  The terms of Schedule 31 shall apply as if fully set forth in this Agreement.

		
	32.
	Security Agreement.  The Parties hereby ratify their respective agreements and obligations under the Security Agreement and Side Letter and, for the avoidance of doubt, agree that (a) the term “Sale Agreement” as defined and used in the Security Agreement, includes this Agreement (as it may be amended, restated, supplemented or otherwise modified from time to time), and (b) the term “Loan Sale Agreement” as defined and used in the Side Letter, includes this Agreement (as it may be amended, restated, supplemented or otherwise modified from time to time).  

[Signature Page Follows]

-15-

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized officers as of the date first written above.

WEBBANK
By:     /s/ Kelly M. Barnett            
Name:     Kelly M. Barnett            
Title:     President                

LENDINGCLUB CORPORATION

By:     /s/ Renaud Laplanche            
Name:     Renaud Laplanche            
Title:     Chief Executive Officer            

[Signature Page to Loan and Receivable Sale Agreement]

-16-

Schedule 1
I.     Definitions
		
	(a)
	“ACH” means the Automated Clearinghouse.

		
	(b)
	“Affiliate” means, with respect to a Party, a Person who directly or indirectly controls, is controlled by or is under common control with the Party.  For the purpose of this definition, the term “control” (including with correlative meanings, the terms controlling, controlled by and under common control with) means the power to direct the management or policies of such Person, directly or indirectly, through the ownership of twenty-five percent (25%) or more of a class of voting securities of such Person.

		
	(c)
	“Agreement” means this Loan and Receivable Sale Agreement.

		
	(d)
	“Applicable Laws” means all federal, state and local laws, statutes, regulations and orders applicable to a Party or relating to or affecting any aspect of the Program (including the Borrower Accounts, Loans, and Receivables), and all requirements of any Regulatory Authority having jurisdiction over a Party, as any such laws, statutes, regulations, orders and requirements may be amended and in effect from time to time during the term of this Agreement. 

		
	(e)
	“Assumption Notice” shall have the meaning set forth in Section 10(c).

		
	(f)
	“Claim Notice” shall have the meaning set forth in Section 10(c).

		
	(g)
	“Closing Date” means each date on which Company pays Bank the Purchase Price (inclusive of the agreement to pay the Loan Trailing Fee) for a Loan or Receivable and, pursuant to Schedule 2 hereof, acquires such Loan or Receivable from Bank.  The Closing Date for Loans and Receivables listed on a Funding Statement shall be two (2) business days after the Funding Date for such Funding Statement.  

		
	(h)
	“Collateral Account” has the meaning set forth in Schedule 31.

		
	(i)
	“Confidential Information” means the terms and conditions of this Agreement, and any proprietary information or non-public information of a Party, including a Party’s proprietary marketing plans and objectives, that is furnished to the other Party in connection with this Agreement. 

		
	(j)
	“Control Account” means an account established by Company and held at the Control Institution in accordance with the terms of the Control Account Agreement.

		
	(k)
	“Control Account Agreement” means the account agreement attached hereto as Exhibit A.

		
	(l)
	“Control Institution” means the depository institution at which the Control Account is established, which initially shall be Wells Fargo Bank, N.A., and may be changed by agreement among the Parties. 

		
	(m)
	“Direct Transferee” means any Person to which Company transfers a Loan or Receivable, and any Affiliate of such Person or special purpose vehicle established at the direction or 

1

for the benefit of such Person or an Affiliate of such Person to which such Person subsequently transfers a Loan or Receivable.
		
	(n)
	“Disclosing Party” shall have the meaning set forth in Section 9(b)(2).

		
	(o)
	“Effective Date” shall have the meaning set forth in the introductory paragraph of this Agreement.

		
	(p)
	“Existing Sale Agreement” shall have the meaning set forth in the recitals.

		
	(q)
	“Indemnifiable Claim” shall have the meaning set forth in Section 10(b).

		
	(r)
	“Indemnified Parties” shall have the meaning set forth in Section 10(a).

		
	(s)
	“Insolvent” means the failure to pay debts in the ordinary course of business, the inability to pay its debts as they come due or the condition whereby the sum of an entity’s debts is greater than the sum of its assets.

		
	(t)
	“Loan” means (1) a consumer or business installment loan or (2) a Line of Credit, in each case established by Bank pursuant to the Program and pursuant to a Borrower Agreement.  For purposes of this Agreement, with respect to any Loan that is not a Line of Credit, each Loan includes all rights of Bank to payment under the applicable Loan Agreement with such Borrower (but does not includes any rights of Bank under the Borrower Agreement between such Borrower and Bank).

		
	(u)
	“Losses” shall have the meaning set forth in Section 10(a).  

		
	(v)
	“Marketing Agreement” means that Marketing and Program Management Agreement, dated as of even date herewith, between Company and Bank, pursuant to which the Parties agreed to promote and operate a loan program.

		
	(w)
	“Party” means either Company or Bank and “Parties” means Company and Bank.

		
	(x)
	“Program” means the consumer and business loan program contemplated by the Program Documents pursuant to which Bank will establish Borrower Accounts and Loans and disburse Loan Proceeds to Borrowers, Company will service the Borrower Accounts and Loans, and in which Bank may sell Loans and Receivables to Company.  The term “Program” also includes the sale by Bank of Loans or Receivables directly to any Person with the consent of or at the direction of Company.

		
	(y)
	“Program Documents” means the Marketing Agreement, the Servicing Agreement, and this Agreement and, solely where such term is used for purpose of defining the scope of the security interest set forth in Schedule 31, shall also include any Agreement pursuant to which Bank sells Loans directly to any Person with the consent of or at the direction of Company.

		
	(z)
	“Proprietary Material” shall have the meaning set forth in Section 13.

		
	(aa)
	“Purchase Price” means, (1) with respect to a Loan other than a Line of Credit, the sum of (i) the principal amount of the Loan Proceeds disbursed pursuant to such Loan, and (ii) 

2

the related Loan Origination Fee, and (iii) the related Loan Trailing Fee and (2) with respect to a Receivable, the sum of (i) the principal amount of the Loan Proceeds disbursed pursuant to the related Loan Advance, and (ii) the related Loan Origination Fee, and (iii) the related Loan Trailing Fee.
		
	(bb)
	“Purchase Price Amount” means, with respect to a Funding Statement, the sum of the Purchase Prices for each Loan and Receivable identified on such Funding Statement (inclusive of the agreement to pay the related Loan Trailing Fees).

		
	(cc)
	“Records” means any Loan Agreements, applications, change-of-terms notices, credit files, credit bureau reports, transaction data, records, or other documentation (including computer tapes, magnetic files, and information in any other format).

		
	(dd)
	“Regulatory Authority” means any federal, state or local regulatory agency or other governmental agency or authority having jurisdiction over a Party and, in the case of Bank, shall include, but not be limited to, the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation.

		
	(ee)
	“Required Balance” shall have the meaning set forth in Schedule 31. 

		
	(ff)
	“Restricted Party” shall have the meaning set forth in Section 9(a).

II.     Construction
As used in this Agreement:

		
	(a) 
	All references to the masculine gender shall include the feminine gender (and vice versa);

		
	(b) 
	All references to “include,” “includes,” or “including” shall be deemed to be followed by the words “without limitation”;

		
	(c) 
	References to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation;

		
	(d) 
	References to “dollars” or “$” shall be to United States dollars unless otherwise specified herein;

		
	(e) 
	Unless otherwise specified, all references to days, months or years shall be deemed to be preceded by the word “calendar”;

		
	(f) 
	All references to “quarter” shall be deemed to mean calendar quarter; and

		
	(g) 
	The fact that Bank or Company has provided approval or consent shall not mean or otherwise be construed to mean that: (i) either Party has performed any due diligence with respect to the requested or required approval or consent, as applicable; (ii) either Party agrees that the item or information for which the other Party seeks approval or consent complies with any Applicable Laws; (iii) either Party has assumed the other Party’s obligations to comply with all Applicable Laws arising from or related to any requested or required approval or consent; or (iv) except as otherwise expressly set forth 

3

in such approval or consent, either Party’s approval or consent impairs in any way the other Party’s rights or remedies under the Agreement, including indemnification rights for Company’s failure to comply with all Applicable Laws.

4

Schedule 2
The following terms shall apply as if fully set forth in the Agreement:

		
	(a) 
	Bank may offer to sell, transfer, assign, set-over, and otherwise convey to Company, without recourse and with servicing released, on each Closing Date, the Loans (other than Lines of Credit, except Lines of Credit on termination or otherwise contemplated herein) established by Bank and the Receivables generated and funded by Bank two (2) Business Days prior to such Closing Date (and on any subsequent non-Business Day that occurs before the next Business Day).  All of the foregoing shall be in accordance with the procedures set forth in this Schedule 2.  In consideration for Bank’s offer to sell, transfer, assign, set-over and convey to Company such Loans (other than Lines of Credit except Lines of Credit on termination or otherwise contemplated herein) and Receivables, Company agrees to purchase all such offered Loans (other than Lines of Credit except Lines of Credit on termination or otherwise contemplated herein) and Receivables from Bank, and Company shall pay to Bank the Purchase Price (inclusive of the Loan Trailing Fee, which is paid in accordance with subject 2(i) of this Schedule 2) in accordance with subsection 2(b) of this Schedule 2.

		
	(b)
	On each Closing Date, Company shall purchase the Loans (other than Lines of Credit, except Lines of Credit on termination or otherwise contemplated herein) established by Bank and the Receivables generated and funded by Bank that are offered for sale by Bank and identified on the Funding Statement received by Bank three (3) Business Days prior to that Closing Date.   By no later than 2:00 pm Mountain Time, two (2) Business Days prior to the Closing Date, Company shall deposit a sum equal to the Purchase Price Amount for that Funding Statement by wire transfer into the Control Account.  On the Closing Date, in consideration of Company’s purchase of the Loans (other than Lines of Credit, except Lines of Credit on termination or otherwise contemplated herein) and Receivables on such Closing Date, Bank may authorize the disbursement of such Purchase Price Amount from the Control Account to Bank per the terms of the Control Account Agreement. Notwithstanding any provision of the Control Account Agreement to the contrary, under no circumstances shall Bank direct or otherwise authorize the disbursement or other disposition of any funds from the Control Account to Bank or any other person or entity other than in accordance with the previous sentence.

		
	(c)
	To secure Company’s obligations under this Schedule 2, Company hereby grants Bank a security interest in all of Company’s right, title and interest in and to the Control Account and all sums now or hereafter on deposit in or payable or withdrawable from the Control Account and the proceeds of any of the foregoing (collectively, the “Control Account Collateral”), and agrees to take such steps as Bank may reasonably require to perfect or protect such first priority security interest.  Company represents that, as of the date of this Agreement, the Control Account Collateral is not subject to any claim, lien, security interest or encumbrance (other than the interest of Bank).  Company shall not allow any other Person to have any claim, lien, security interest, or encumbrance on the Control Account Collateral.  Bank shall have all of the rights and remedies of a secured party under Applicable Laws with respect to the Control Account Collateral and the funds therein or proceeds thereof, and shall be entitled to exercise those rights and remedies in its discretion.  For the avoidance of doubt, the funds in the Control Account are intended 

1

solely for payment of the Purchase Price and Purchase Price Amount as set forth in Sections (a) and (b) of this Schedule 2.

		
	(d)
	Company agrees to pay all of the fees charged by the Control Institution with respect to the Control Account, and shall ensure that adequate funds are deposited into the Control Account to satisfy such fees.  Company shall provide to Bank copies of the Control Account Agreement and any other documents relating to the Control Account, including the agreement governing the Control Account and any amendments thereto, promptly upon receipt from the Control Institution.

		
	(e)
	Company shall pay Bank on a monthly basis the Holding Period Interest Charge for each Loan (other than Lines of Credit) and Receivable sold by Bank.  Such payment shall be made by Bank’s initiation of an ACH debit transaction to an account designated in advance by Company on or about the sixth (6th) Business Day after the end of each month.

		
	(f)
	To the extent that such materials are in Bank’s possession, upon Company’s request, Bank agrees to cause to be delivered to Company, at Company’s cost, loan files on all Loans or Receivables purchased by Company pursuant to this Agreement through the preceding Business Day.  Such loan files will include the application for the Loan, the Loan Agreement, confirmation of delivery of the Loan Agreement to the Borrower, and such other materials as Company may reasonably require (all of which may be in electronic form); provided that Bank may retain the originals of such information with respect to any Receivables where Bank continues to own the Borrower Account, and Bank may retain copies of such information as necessary to comply with Applicable Laws.

		
	(g)
	Within ten (10) Business Days following the end of each quarter, Bank shall refund to Company the Holding Period Interest Charge for each Loan or Receivable (other than a Loan or Receivable for which the Holding Period Interest Charge has already been refunded) that meets the following three conditions as of the end of the quarter that most recently ended: (i) the first payment on such Loan or Receivable was not paid when due, (ii) the first payment was not subsequently received, and (iii) the Loan has been charged off.

		
	(h)
	When a Line of Credit is permanently closed to further Loan Advances, and if Bank had previously sold the Receivables associated with such Line of Credit to Company, Bank may offer to sell such Line of Credit to Company for no additional consideration, and Company shall purchase such Line of Credit from Bank on the next Closing Date.

		
	(i)
	With respect to each Loan or Receivable sold by Bank hereunder, and any Loan or Receivable sold by Bank to any Person with the consent or at the direction of Company, Company shall pay to Bank on a monthly basis the Loan Trailing Fee.  The Loan Trailing Fee for a Loan or Receivable is equal to the Loan Fee Factor multiplied by all amounts actually received by Company as servicer of a Loan or Receivable (or any successor servicer) in connection with such Loan or Receivable during the month (but excluding late fees, returned check fees, and any fees associated with the method of payment and net of reasonable collection fees), and before the deduction or payment of any servicing fee due to Company as servicer (or any successor servicer).  The Loan Fee Factor is equal 

2

to [***].  The Loan Trailing Fee for a month shall be paid by Company within five (5) Business Days following the month in which the amounts are collected.  The Parties will cooperate in good faith to develop, within ninety (90) days following the Effective Date, procedures for payment of the Loan Trailing Fee on loans that are charged off, including payment of a portion of the net proceeds released upon sale of such a loan; provided, that proceeds of charged-off Loans shall not be subject to payment of the Loan Trailing Fee until such procedures are developed.  

		
	(j)
	To the extent the projected amount (adjusted for estimated collectability, but not adjusted for the time value of money) of all Loan Trailing Fees to be paid to Bank by Company on all then-outstanding Loans is greater than [***] the Company may [***] of all Loan Trailing Fees to be paid to Bank by Company on all then-outstanding Loans, or (ii) [***]. At the time of [***] Company agrees to take such steps as Bank [***]. For the avoidance of doubt, Bank is entitled to payment of the Loan Trailing Fee on a Loan only [***].  

		
	(k)
	The terms of Sections (i), (j) and (k) of this Schedule 2 shall survive the expiration or termination of this Agreement for as long as any Loans or Receivables remain outstanding (including, for the avoidance of doubt, if Company is no longer the owner or servicer of such Loans or Receivables).

		
	(l)
	To the extent the Bank seeks to retain Loans or Receivable on its balance sheet, the Parties shall work to establish a procedure to randomly allocate Loans and Receivables to be retained by Bank, that satisfy the risk and investment criteria of the Bank, prior to any Loans being made available to investors through the Company’s marketplace.  

		
	(m)
	As used in this Schedule 2, the following terms shall have the definitions set forth below:

“Holding Period Interest Charge” means, for each Loan and Receivable purchased from Bank (whether purchased by Company or a third party approved by Company), (i) interest paid by Company to Bank on the principal amount of that Loan or Receivable (as applicable) between the Funding Date and the Closing Date, calculated on a calendar day basis, at an annual interest rate equal to the applicable Performance-Adjusted Interest Rate, less (ii) the Servicing Fee.  
“Loan Category” means each group of Loans of a common type (e.g., consumer-purpose, business-purpose, or Line of Credit), and with a common credit grade and loan term (as set forth in the Credit Policy).
“Loss Rate” means, with respect to a Loan Category, the quotient of (a) the total dollar amount of principal of all Loans in such Loan Category charged off during the prior [***] (net of recoveries), divided by (b) the weighted average principal amount of all Loans and Loan Advances within such Loan Category outstanding during the prior [***].  

3

The Loss Rate for a Loan Category will be calculated each quarter, not more than sixty (60) days following the end of the quarter, by reference to the twelve (12) complete months ending with the quarter then ended, and the newly calculated Loss Rate shall be effective on the first Business Day of the subsequent quarter.  The figures used to calculate the Loss Rate shall include loans originated under the Prior Program.
“Performance-Adjusted Interest Rate” means, with respect to a Loan or Receivable, (1) the stated simple interest rate applicable to that Loan or Receivable, less (2) the Loss Rate for that Loan Category; but [***].
“Servicing Fee” means, with respect to a Loan or Receivable, [***] of the scheduled principal and interest in the first payment due for such Loan or Receivable multiplied by a fraction, the numerator of which is the number of calendar days between the Funding Date and the Closing Date (including the Funding Date but excluding the Closing Date) and the denominator of which is the number of calendar days between the Funding Date and the due date of the first payment for such Loan or Receivable (including the Funding Date but excluding such due date).

4

Schedule 31
The following terms shall apply as if fully set forth in the Agreement:

		
	(a)
	Establishment of Collateral Account.  Company shall provide Bank with cash collateral to secure Company’s obligations under the Program Documents and the Prior Program Documents, which Bank shall deposit in a deposit account (“Collateral Account”) at Bank.  The Collateral Account shall be a deposit account at Bank, segregated from any other deposit account of Company that shall hold only the funds provided by Company to Bank as collateral.  At all times, Company shall maintain funds in the Collateral Account equal to the sum of (1) Five Million Dollars ($5,000,000.00), plus (2) [***] (the “Required Balance”); provided, that the Required Balance shall never exceed [***].  The Required Balance shall be calculated monthly as of the first day of each month during the Term.  In the event the actual balance in the Collateral Account is less than the Required Balance, Company shall, within two (2) Business Days following receipt of notice of such deficiency, make a payment into the Collateral Account in an amount equal to the difference between the Required Balance and the actual balance in such account.    

		
	(b)
	Security Interest.  To secure all Company’s obligations under the Program Documents and the Prior Program Documents (including the payment by Company of any amounts due under the Program Documents and the Prior Program Documents and the performance of any of Company’s obligations under the Program Documents and the Prior Program Documents), Company hereby grants Bank a security interest in the Collateral Account and the funds therein or proceeds thereof, and agrees to take such steps as Bank may reasonably require to perfect or protect such first priority security interest.  Company represents that, as of the date of the Agreement, the Collateral Account is not subject to any claim, lien, security interest or encumbrance (other than the interest of Bank).  Company shall not allow any other Person to have any claim, lien, security interest, or encumbrance on the Collateral Account.  Bank shall have all of the rights and remedies of a secured party under Applicable Laws with respect to the Collateral Account and the funds therein or proceeds thereof, and shall be entitled to exercise those rights and remedies in its discretion.

		
	(c)
	Interest.  The Collateral Account shall be a money market deposit account and shall bear interest.  The annual interest rate shall be adjusted monthly as of the first day of each month during the Term, and shall be equal to the greater of (i) the Federal Funds Rate published in the Money Rates table of the Wall Street Journal on such date, less [***]; or (ii) [***].  The interest shall be paid monthly and shall be computed based on the average daily balance of the Collateral Account for the prior month.  Company shall be entitled to any interest paid on the Collateral Account, and Bank shall forward to Company such interest no less frequently than quarterly.

		
	(d)
	Withdrawals.  

		
	(1)
	Without limiting any other rights or remedies of Bank under this Agreement, Bank shall have the right to withdraw amounts from the Collateral Account to fulfill any obligations of Company under the Program Documents or the Prior Program Documents on which Company has defaulted, either during the Term or following termination of either of the Program Documents.  To the extent that 

1

Bank has withdrawn amounts from the Collateral Account and such amounts are subsequently paid directly to Bank, Bank shall restore such amounts to the Collateral Account with in one (1) Business Day after receipt of the amounts paid directly to Bank.

		
	(2)
	Company shall not have any right to withdraw amounts from the Collateral Account, except as set forth in this paragraph (d)(2).  In the event the actual balance in the Collateral Account is more than the Required Balance calculated for a particular month, then, at Company’s option, Company may provide to Bank a report setting forth the calculation for the Required Balance and the extent to which the actual amount held in the Collateral Account at such time exceeds the Required Balance.  Within two (2) Business Days after receipt of such a report from Company, Bank shall withdraw from the Collateral Account any amount held therein that exceeds the Required Balance as of the date of such report and pay such amount to an account designated by Company. 

		
	(e)
	Termination of Collateral Account.  Subject to the Company’s rights under paragraph (d)(2), Bank shall release any funds remaining in the Collateral Account on latest to occur of: (i) sixty (60) days after the termination of this Agreement, (ii) the last date on which Company is obligated to purchase Loans pursuant to subsection 10(h) of the Marketing Agreement, (iii) sixty (60) days after the termination of the Servicing Agreement, (iv) the last date on which Company is obligated to pay any Loan Trailing Fee pursuant to section (i) of Schedule 2, or (v) the fulfillment by Company of all of its obligations to Bank under the Program Documents, including its outstanding indemnification obligations with respect to all Claim Notices provided to Company within sixty (60) days after the expiration or termination of any of the Program Documents. 

		
	(f)
	Survival.  This Schedule 31 shall survive the expiration or termination of this Agreement. 

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Exhibit A

[Control Account Agreement]

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