Document:

Exhibit 10.2

 

NANOFLEX POWER CORPORATION

NOTE CONVERSION AGREEMENT

 

THIS NOTE CONVERSION
AGREEMENT (the “Agreement”), dated as of January __, 2016, is entered into by and between NanoFlex Power Corporation.,
a corporation organized under the laws of the state of Florida (the “Company”), and ___________________ (the
“Holder”).

WHEREAS,
the Company issued promissory notes (the “Notes”) with an aggregate principal amount of $2,000,000.00 (the “Principal
Amount”) to the Holder on the dates and in the principal amounts listed below:

		1.	July 20, 2015; $150,000

		2.	August 17, 2015; $150,000

		3.	October 30, 2015; $150,000

		4.	November 24, 2015; $175,000

		5.	January 6, 2016; $1,375,000

 

WHEREAS, copies
of the Notes are attached hereto as Exhibit A; and

 

NOW THEREFORE, in
consideration of the promises herein contained and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby consent and agree as follows:

 

ARTICLE
1 

Conversion

Section 1.1            
Note Conversion. The Holder and the Company hereby agree that the Notes shall convert
on the Effective Date, as defined below, into an investment in the Principal Amount in the Company’s current Convertible
Debenture offering. 

Section 1.2            
Mechanics of Conversion. Simultaneously with the execution of this Agreement, the Holder
shall complete and execute, and the Company shall countersign, the Convertible Debenture Subscription Agreement (the “Subscription
Agreement”) attached hereto as Exhibit B. The date of execution of the Subscription Agreement shall be deemed
the “Effective Date.” The Company shall then issue the securities issuable pursuant to the Subscription Agreement
which shall include a convertible promissory note (the “CN”) and a warrant, within ten (10) days following the
Effective Date.

Section 1.3            
Convertible Note. If the Holder converts the CN within thirty (30) days of its receipt
by the Holder, the Company shall pay to the Holder the interest under the CN in shares of its common stock as if the Holder did
not convert the CN for a period of one (1) year from the date of issuance. 

Section 1.4            
Effect of Conversion. Upon conversion of the Notes, the Notes shall be terminated
and the Company’s obligations under the Notes shall be deemed satisfied in full.

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                                         Conversion Agreement - Page 1

     

    

ARTICLE
2 

Acknowledgements,
Representations, Warranties and Covenants of the Holder

Section 2.1            
The Holder. The Holder is an “accredited investor,” as such term
is defined in Regulation D promulgated by the Commission under the Securities Act of 1933 (the “1933 Act”),
is experienced in investments and business matters, has made investments of a speculative nature and has purchased securities of
United States publicly-owned companies in private placements in the past and, has such knowledge and experience in financial, tax
and other business matters as to enable him to utilize the information made available by the Company to evaluate the merits and
risks of and to make an informed investment decision with respect to conversion of the Notes, which represents a speculative investment.
The Holder has the authority and is duly and legally qualified to purchase and own the securities to be issued pursuant to the
Subscription Agreement. 

Section 2.2            
Restricted Securities. The Holder understands that the securities to be issued pursuant
to the Subscription Agreement have not been registered under the 1933 Act nor under any state securities laws or regulations and
it may not sell, offer to sell, assign, pledge, hypothecate or otherwise transfer any of the securities to be issued pursuant to
the Subscription Agreement unless pursuant to an effective registration statement under the 1933 Act, or unless an exemption from
registration is available. 

Section 2.3            
Authority. The Holder hereby represents and warrants to the Company that, as of the
date of and after giving effect to this Agreement, the execution, delivery, and performance of this Agreement and all other documents
executed and/or delivered in connection herewith have been authorized by all requisite action on the part of the Holder.

Section 2.4            
Restrictive Legend. The securities to be issued pursuant to the Subscription Agreement
shall bear the following or substantially similar legend:

“THE ISSUANCE
AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
NOR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE
OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF
COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT
REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.

Section 2.5            
Communication of Offer. The offer to convert the Notes pursuant to this Agreement was
directly communicated to the Holder. At no time was the Holder solicited by any leaflet, newspaper or magazine article, radio or
television advertisement, or any other form of general advertising or solicited or invited to attend a promotional meeting otherwise
than in connection and concurrently with such communicated offer.

 

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Section 2.6            
No Governmental Review. The Holder understands that no United States federal or state
agency or any other governmental or state agency has passed on or made recommendations or endorsement of the securities to be issued
pursuant to the Subscription Agreement or the suitability of such securities.

Section 2.7            
Representations Made. The Holder further represents that all representations made by
the Holder pursuant to the acquisition and this Agreement will be true and correct as of the Effective Date.

ARTICLE
3 

Representations
and Warranties of the Company

Section 3.1            
Authority. The Company hereby represents and warrants to the Holder that, as of the
date of and after giving effect to this Agreement, the execution, delivery, and performance of this Agreement and all other documents
executed and/or delivered in connection herewith have been authorized by all requisite action on the part of the Company and will
not violate the Company’s organizational or governing documents.

Section 3.2            
Due Incorporation. The Company is a corporation duly incorporated, validly existing
and in good standing under the laws of the jurisdiction of its incorporation, and has the requisite corporate power to own its
properties and to carry on its business as now being conducted.

Section 3.3            
Consent and Approval. No consent, approval, authorization or order of any court, governmental
agency or body having jurisdiction over the Company or of any other person is required for the execution by the Company of this
Agreement and compliance and performance by the Company of its obligations hereunder.

Section 3.4            
Representations Made. The Company further represents that all representations made
by the Company pursuant to the acquisition and this Agreement will be true and correct as of the Effective Date.

ARTICLE 4

Miscellaneous

Section 4.1Law
Governing this Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida
without regard to principles of conflicts of laws. Any action brought by either party hereto against the other concerning the transactions
contemplated by this Agreement shall be brought only in the state courts of Florida or in the federal courts located in the State
of Florida. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The parties
hereto agree to submit to the in personam jurisdiction of such courts and hereby irrevocably waive trial by jury. The prevailing
party shall be entitled to recover from the other party its reasonable attorney’s fees and costs.

 

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Section 4.2Counterparts.
This Agreement may be executed in one or more counterparts, and on telecopied or other electronically transmitted counterparts,
each of which when so executed shall be deemed to be an original, but all of which when taken together shall constitute one and
the same agreement. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf”
format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such facsimile or “.pdf” signature page was an original thereof.

Section 4.3Entire
Agreement. This Agreement, and all other instruments, documents, and agreements executed and delivered in connection herewith
and therewith embody the final, entire agreement between the Company and the Holder and supersede any and all prior commitments,
agreements, representations, and understandings, whether written or oral, relating hereto or thereto, and may not be contradicted
or varied by evidence of prior, contemporaneous, or subsequent oral agreements or discussions of the parties. There are no unwritten
oral agreements among the parties.

[Remainder of page intentionally blank. Signature
page follows.]

 

 

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed by their duly authorized officers in several counterparts as of the
date specified in the preamble hereof.

 

	 	

NanoFlex Power Corporation, 

	 	a Florida Corporation
	 	 
	 	By: 	
	 	Name:

Title:	Dean L. Ledger

Chief Executive Officer
	 	 	 
	 	Address: 17207 N. Perimeter Dr., Suite
210, Scottsdale, AZ 85255
	 	 	 
	 	By:	 
	 	 	 
	 	Address:
	 	 	 

  

 

[Signature Page to Note Conversion
Agreement]

 

    

     

    

 

EXHIBIT A

 

Promissory Notes

 

    

     

    

 

EXHIBIT B

 

Subscription AgreementEX-10.1

 Exhibit 10.1 

Execution Version 
 CITIGROUP
GLOBAL MARKETS INC. 
 390 GREENWICH STREET 

NEW YORK, NEW YORK 10013 

January 24, 2016 
 Tyco International Finance
S.A. 
 29, Ave. de la Porte Neuve 
 Luxembourg N4 2227 

$4.0 Billion Senior Unsecured Term Loan Facility 

COMMITMENT LETTER 
 Ladies and Gentlemen: 

Tyco International Finance S.A., a Luxembourg company (“you” or the “Company”) has advised us that Tyco
International plc, an Irish public limited company (the “Parent”) intends to effect a business combination with the company disclosed to us and code named “Jaguar” (the “Target” and, together
with its subsidiaries, the “Acquired Business”), through the merger of Jagara Merger Sub LLC (“Merger Sub”) with and into the Target, with the Target being the surviving corporation of such
merger (the “Merger”), pursuant to the Agreement and Plan of Merger dated as of January 24, 2016 by and among Johnson Controls, Inc., Parent and Merger Sub (including all schedules and exhibits thereto, as may be amended
from time to time, the “Merger Agreement”). Capitalized terms used in this letter agreement (including the attached Exhibits A, B and C, collectively, the
“Exhibits”, this “Commitment Letter”), but not defined herein shall have the meanings given to them in the Exhibits hereto. 

You have also advised us that Tyco International Holding S.a.r.l., a Luxembourg société à responsabilité
limitée (which may, at the Company’s election, be converted into a Luxembourg société anonyme prior to the Closing Date) and a direct wholly-owned subsidiary of the Company (the
“Borrower”) intends to finance all or a portion of the cash consideration payable to Target shareholders in connection with the Merger and the costs and expenses related to the Transaction (as defined below)
using the proceeds of a senior unsecured term loan facility (the “Term Loan Facility”) in an aggregate principal amount of up to US$4,000,000,000 and/or, to the extent such aggregate principal amount is less
than US$4,000,000,000 on or prior to the date of consummation of the Merger, up to US$4,000,000,000 in senior unsecured loans under a 364-day senior unsecured bridge facility (the “Bridge Facility”). The Merger,
the entering into and funding of the Term Loan Facility, and/or the entering into and funding of the Bridge Facility, in each case as described herein, and all related transactions are hereinafter collectively referred to as the
“Transaction.” The date of consummation of the Merger is referred to herein as the “Closing Date.” 

It is understood and agreed that upon the execution and delivery of the Operative Documents (as defined below) by the parties thereto, the commitments with
respect to the Bridge Facility shall automatically be reduced on a dollar-for-dollar basis by the amount of the commitments under the Term Loan Facility in accordance with the “Mandatory Prepayments and Commitment Reductions” section and
the other terms and provisions of the separate commitment letter dated as of January 24, 2016 in respect of the Bridge Facility. 
 Citi
(as defined below) (the “Commitment Party”) is pleased to inform you and the Borrower of Citi’s commitment to provide up to $400,000,000 of the Term Loan Facility upon the terms and subject to the conditions set forth on
Exhibit A and Exhibit B hereto. Citi is also pleased to agree to use commercially reasonable efforts to arrange a syndicate of Lenders that will participate in the Term Loan Facility on the terms set forth in this
Commitment Letter. 
 As used in this Commitment Letter, “Citi” shall mean Citigroup Global Markets
Inc., Citibank, N.A., Citicorp USA, Inc., Citicorp North America, Inc. and/or any of their affiliates as may be appropriate to consummate the transactions contemplated hereby. 

  
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 Furthermore, (i) Citi is pleased to advise you of its agreement to act as a joint lead arranger and joint
bookrunner (Citi in such capacity, together with the other joint lead arrangers and joint bookrunners appointed pursuant to this paragraph, the “Lead Arrangers”) in respect of the Term Loan Facility (and you hereby appoint
Citi to act in such capacity) and (ii) Citi is pleased to advise you of its agreement to act as the administrative agent (acting in such role, the “Administrative Agent”) in respect of the Term Loan Facility (and you
hereby appoint Citi to act in such capacity), in each case, upon the terms and subject to the conditions set forth or referred to in this Commitment Letter. It is understood and agreed that Citi will have “left lead” placement in all
marketing materials and other documentation used in connection with the Term Loan Facility. No additional agents, co-agents or arrangers will be appointed, no other titles will be awarded and no compensation (except as set forth in this Commitment
Letter or the Fee Letter) will be paid, without the consent of the Commitment Party; provided that you may, in consultation with Citi, appoint one or more additional lead arrangers and/or joint bookrunners for the Term Loan Facility, and
award such lead arranger and/or joint bookrunners, additional agent or co-agent, manager or co-manager titles or confer other titles in a manner and with economics set forth in the immediately succeeding proviso; provided, further, that, no
such additional lead arranger and/or any joint bookrunner for the Term Loan Facility shall be awarded economics in excess of the total economics payable to Citi in respect of the Term Loan Facility pursuant to the Fee Letter. 

Except as set forth above with respect to Citi’s commitment hereunder to provide a portion of the Term Loan Facility, the Company acknowledges that this
Commitment Letter shall not constitute or give rise to any obligation on the part of Citi or any of its affiliates to provide or commit to provide the balance of the commitments for the Term Loan Facility in excess of such portion; any such
commitment or obligation will arise, if at all, only to the extent in a separate commitment letter or agreement with respect thereto and setting forth the terms and conditions thereof. 

 

	1.	Conditions Precedent. 

 Our commitments and agreements hereunder are subject solely to
those conditions specified under the heading “Conditions to Availability of the Term Loans on the Closing Date” in Exhibit A and in Exhibit B; it being understood that there are no conditions (implied or
otherwise) to the commitments hereunder (including compliance with the terms of this Commitment Letter, the Fee Letter and the Operative Documents (as defined below)) other than those that are expressly stated under the heading “Conditions to
Availability of the Term Loans on the Closing Date” in Exhibit A and in Exhibit B to be conditions to the initial funding under the Term Loan Facility on the Closing Date (and upon satisfaction or waiver of such
conditions, the initial funding under the Term Loan Facility shall occur). Notwithstanding anything in this Commitment Letter, the Fee Letter, the Operative Documents or any other letter agreement or other undertaking concerning the financing of the
Transaction to the contrary, the terms of the Operative Documents shall be in a form such that they do not impair availability of the Term Loan Facility on the Closing Date if the conditions expressly stated under the heading “Conditions to
Availability of the Term Loans on the Closing Date” in Exhibit A and in Exhibit B are satisfied. 
  

	2.	Commitment Termination. 

 The commitments of the Commitment Party hereunder and the
undertaking of the Lead Arrangers to provide the services described herein will terminate on the earliest of (A) October 24, 2016, or if the Outside Date (as defined in the Merger Agreement as in effect on the date hereof) shall have been
extended to a later date as provided in Section 8.1(c) of the Merger Agreement (as in effect on the date hereof), such later date (but in any event not later than January 24, 2017), (B) the date the Operative Documents become
effective, (C) the date the Merger Agreement is validly terminated in accordance with its terms and (D) the date of the consummation of the Merger without the funding of the Term Loan Facility (such earliest date, the
“Termination Date”).  
  

	3.	Syndication. 

 Notwithstanding anything to the contrary contained herein, the selection of Lenders and
the allocations of the commitments among such Lenders shall be subject to your consent (such consent not to be unreasonably withheld), it being agreed that you hereby consent to syndication (i) to lenders under the Existing Credit Agreement (as
defined below) and (ii) to other financial institutions agreed to by you and Citi in writing prior to the date hereof. 

  
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 You understand that the Commitment Party intends to commence such syndication efforts promptly after your
acceptance of this Commitment Letter. Citi will manage all aspects of the syndication of the Term Loan Facility in consultation with the Company and, subject to the immediately preceding paragraph, with the Company’s consent, not to be
unreasonably withheld, including the timing of all offers to potential Lenders, the determination of the amounts offered to potential Lenders, the acceptance of commitments of the Lenders and the compensation to be provided to the Lenders. 

The Company shall take all action as Citi may reasonably request to assist Citi in forming a syndicate of Lenders from the date hereof until the Effective
Date (as defined in Exhibit A hereto). The Company’s assistance in forming such a syndicate shall include but not be limited to: (i) making senior management and representatives of the Company and the Parent available to participate in
information meetings with potential Lenders and rating agencies at such times and places as Citi may reasonably request, (ii) using the Company’s commercially reasonable efforts to ensure that the syndication efforts benefit from the
Company’s and the Parent’s existing lending relationships, (iii) assisting in the preparation of a confidential information memorandum for the Term Loan Facility and other marketing and rating agency materials to be used in connection
with the syndication of the Term Loan Facility; and (iv) providing Citi with all information with respect to the Borrower (including, but not limited to, delivery of the Borrower’s financial statements) and its subsidiaries reasonably
requested by Citi to successfully complete the syndication. 
 The Company acknowledges that (i) the Commitment Party may make available
any Information (as defined in Section 8) to potential Lenders by posting the Information on Debtdomain, Intralinks or another similar electronic system (the “Platform”) and (ii) certain of the potential Lenders may
be public side Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Company, the Borrower or any securities of any party or their respective subsidiaries) (each, a “Public
Lender”). The Company agrees that (A) at the request of the Commitment Party, it will prepare a version of the information package and presentation to be provided to potential Lenders that does not contain material non-public
information concerning the Company, the Borrower or any securities of any party or their respective subsidiaries for purposes of United States federal and state securities laws; (B) any Information that is to be made available to Public Lenders
will be clearly and conspicuously marked “PUBLIC” which, at a minimum, will mean that the word “PUBLIC” will appear prominently on the first page thereof; (C) by marking Information “PUBLIC”, the Company will be
deemed to have authorized the Lead Arrangers and the proposed Lenders to treat such Information as not containing any material non-public information (although they may be confidential or proprietary) with respect to the Company, the Borrower or any
securities of any party or their respective subsidiaries for purposes of United States federal and state securities laws; (D) any Information marked “PUBLIC” is permitted to be made available through a portion of the Platform
designated “Public Lender,” and (E) the Lead Arrangers will be entitled to treat any Information that is not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public
Lender.” 
 It is understood that in connection with your assistance described above, a customary authorization letter will be included
in each confidential information memorandum that authorizes the distribution of such confidential information memorandum to prospective Lenders and confirms that the public-side version consists exclusively of Public Lender Information and each such
confidential information memorandum shall exculpate us and our affiliates with respect to any liability related to the use of the information contained in such confidential information memorandum or any related marketing material by such prospective
Lenders. 
 To ensure an effective syndication of the Term Loan Facility, the Company agrees that, from the date hereof until the Effective Date, neither
the Company nor the Borrower will, and will not permit any of the Borrower’s subsidiaries to, syndicate or issue, attempt to syndicate or issue, announce or authorize the announcement of the syndication or issuance of, or engage in discussions
with commercial banks concerning the syndication or issuance of, any debt facility (including any renewals thereof) in the commercial bank market without the prior written consent of Citi; provided, however, that the foregoing shall
not limit the Company’s, the Borrower’s or their subsidiaries’ ability (i) to issue commercial paper or other short-term debt programs currently in place, (ii) to borrow under the Existing Credit Agreement, (iii) to
increase the aggregate principal amount available under the Existing Credit Agreement to up to $3.0 billion or refinance the Existing Credit Agreement (as defined below) with a new revolving credit 

  
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agreement with aggregate commitments not to exceed $3.0 billion, and to borrow up to $3.0 billion under such amended or refinanced revolving credit agreement, (iv) to enter into and renew
local lines of credit for non-U.S. operating subsidiaries in the ordinary course of business or (v) to enter into the Bridge Facility. 
  

	4.	Fees. 

 In addition to the fees described in the Exhibits, the Company shall pay (or cause
to be paid) the non-refundable fees set forth in the letter agreement dated the date hereof (the “Fee Letter”) between the Company and the Commitment Party. The terms of the Fee Letter are an integral part of the Commitment
Party’s commitment hereunder and constitute part of this Commitment Letter for all purposes hereof.  
  

	5.	Indemnification. 

 The Company shall indemnify and hold harmless the Commitment Party, the
Lead Arrangers, each Lender and each of their respective affiliates and each of their respective officers, directors, employees, agents, advisors and representatives (each, an “Indemnified Party”) from and against any and all
claims, damages, losses, liabilities and expenses (including, without limitation, reasonable fees and disbursements of counsel) that may be incurred by or asserted or awarded against any Indemnified Party (including, without limitation, in
connection with any investigation, litigation or proceeding or the preparation of a defense in connection therewith), in each case arising out of or in connection with or by reason of this Commitment Letter or the Operative Documents or the
transactions contemplated hereby or thereby or any actual or proposed use of the proceeds of the Term Loan Facility, except to the extent such claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court of
competent jurisdiction to have resulted from (i) such Indemnified Party’s or any Related Indemnified Party’s gross negligence or willful misconduct, (ii) a material breach by such Indemnified Party or such Related Indemnified
Party of its agreements hereunder or (iii) a dispute that (A) is solely among Lenders and (B) does not arise from the Company’s breach of its obligations under this Commitment Letter or any related transaction or applicable law
(other than any proceeding against the Commitment Party or any Lead Arranger solely in their capacity or in fulfilling their role as an agent or other similar role under the Term Loan Facility). In the case of an investigation, litigation or other
proceeding to which the indemnity in this paragraph applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by the Company, the Borrower, any of their respective directors, security holders
or creditors, an Indemnified Party or any other person or an Indemnified Party is otherwise a party thereto and whether or not the transactions contemplated hereby are consummated. For purposes hereof, a “Related Indemnified
Party” of an Indemnified Party means (1) any controlling person or controlled affiliate of such Indemnified Party, (2) the respective directors, officers, or employees of such Indemnified Party or any of its controlling
persons or controlled affiliates and (3) the respective agents of such Indemnified Party or any of its controlling persons or controlled affiliates, in the case of this clause (3), acting at the express instructions of such Indemnified Party,
such controlling person or such controlled affiliate, provided, that each reference to a controlled affiliate, controlling person, director, officer or employee in this sentence pertains to a controlled affiliate,
controlling person, director, officer or employee involved in the negotiation of this Commitment Letter.  
 No Indemnified Party will have
any liability (whether in contract, tort or otherwise) to the Company, the Borrower or any of their respective affiliates or security holders or creditors for or in connection with this Commitment Letter, the Fee Letter, the Term Loan Facility, the
use of proceeds thereof, the Transactions or any related transaction, except to the extent of direct damages determined in a final non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross
negligence or willful misconduct or material breach of its agreements hereunder. In no event shall any Indemnified Party be liable on any theory of liability for any special, indirect, consequential or punitive damages (including, without
limitation, any loss of profits, business or anticipated savings) in connection with this Commitment Letter, the Fee Letter, the Term Loan Facility, the use of proceeds thereof, the Transactions or any related transaction. 

The Company acknowledges that information and other materials relative to the Term Loan Facility and the transactions contemplated hereby may be transmitted
through the Platform. No Indemnified Party will be liable to the Company, the Borrower or any of their respective affiliates or any of their respective security holders or creditors for any damages arising from the use by unauthorized persons of
information or other materials sent through the Platform that are intercepted by such persons. 

  
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	6.	Costs and Expenses. 

 The Company shall pay, or reimburse the Commitment Party and the Lead Arrangers on
demand for, all reasonable out-of-pocket costs and expenses incurred by the Commitment Party and the Lead Arrangers (whether incurred before or after the date hereof) in connection with the Term Loan Facility and the preparation, negotiation,
execution and delivery of this Commitment Letter, including, without limitation, the reasonable fees and expenses of New York and local counsel, in U.S. dollars in New York, New York, or, at the Commitment Party’s or the Lead Arrangers’
direction, in the currency and at the place in which such costs or expenses were incurred, regardless of whether any of the transactions contemplated hereby are consummated. The Company shall also pay all costs and expenses of the Commitment Party
and the Lead Arrangers (including, without limitation, the reasonable fees and disbursements of counsel) incurred in connection with the enforcement of any of its rights or remedies hereunder. 

 

	7.	Confidentiality. 

 By accepting delivery of this Commitment Letter, the Company agrees that
this Commitment Letter is for the Company’s, the Borrower’s, the Parent’s and the Company’s subsidiaries confidential use only and that neither its existence nor the terms hereof will be disclosed by the Company or its
subsidiaries to any person other than the Company’s, the Borrower’s, the Parent’s or the Company’s subsidiaries’ officers, directors, employees, accountants, attorneys and other advisors, agents and representatives (the
“Company Representatives”) and then only on a confidential and “need to know” basis in connection with the transactions contemplated hereby; provided, however, that (i) you may disclose this
Commitment Letter and the Fee Letter to the Target and its officers, directors, employees, affiliates, independent auditors, legal counsel and other advisors on a confidential and “need to know” basis in connection with the Merger,
(ii) you may disclose this Commitment Letter (other than the Fee Letter), after your acceptance of this Commitment Letter (including the Fee Letter), in filings with the Securities and Exchange Commission and other applicable regulatory
authorities and stock exchanges and otherwise in prospectuses and offering memoranda for offerings of debt securities; and (iii) the Company may make such other public disclosures of the terms and conditions hereof (but not any of the fees
payable pursuant to the Fee Letter other than disclosure of the aggregate amount of such fees as part of a generic disclosure of aggregate sources and uses) as the Company is, in the opinion of the Company’s counsel, required by law to make.
Notwithstanding any other provision in this Commitment Letter, the Commitment Party hereby confirms that the Company and the Company Representatives shall not be limited from disclosing the tax treatment or tax structure of the Term Loan Facility.
The provisions of this paragraph shall expire one year following the date hereof. 
 Each Lead Arranger shall maintain the confidentiality of
the Confidential Information (as defined below) and shall not use the Confidential Information except for purposes relating directly to the Term Loan Facility, except that Confidential Information may be disclosed by such Lead Arranger (a) to
its affiliates and its and its affiliates’ directors, officers, managers, administrators, trustees, partners, advisors, employees, and agents whom it determines need to know such Confidential Information in connection with matters relating
directly to the Term Loan Facility, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and
instructed to keep such Confidential Information confidential and such Lead Arranger shall be responsible for direct damages arising from the breach of this Section by its affiliates and its and its affiliates’ directors, officers, managers,
administrators, trustees, partners, advisors, employees and agents to whom it disclosed such Confidential Information), (b) to the extent requested by any governmental authority or regulatory agency (including any self-regulatory authority,
such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or upon order of any court or administrative agency of competent jurisdiction, to the extent required by such order and
not effectively stayed on appeal or otherwise, or as otherwise required by law; provided that in the case of any intended disclosure under this clause (c), such Lead Arranger shall (unless otherwise required by applicable law), to the extent
practicable, inform you promptly thereof specifying the Confidential Information involved and, at your request, cooperate in seeking protective order in respect thereof or in resisting such disclosure), (d) to any other 

  
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 party hereto, (e) in connection with the exercise of any remedies under this Commitment Letter or any action
or proceeding relating to this Commitment Letter or the enforcement of rights hereunder, (f) subject to an agreement in writing to be bound by the provisions of this Section or to an arrangement to be bound by provisions at least as restrictive
as this Section (and, in each case, of which the Company shall be a third party beneficiary) , to (i) any Lender, or any prospective Lender or (ii) any actual or prospective counterparty (or its managers, administrators, trustees,
partners, directors, officers, employees, agents, advisors and other representatives) to any swap or derivative or similar transaction under which payments are made by reference to the Company and its obligations, the Term Loan Facility or payments
thereunder, (iii) any rating agency or (iv) the CUSIP Service Bureau or any similar organization, (g) with the written consent of the Company referencing this Section, or (h) to the extent such Confidential Information
(x) becomes publicly available other than as a result of a breach of this Section or a breach of another confidentiality agreement to which such Lead Arranger is a party or any other legal obligation of such Lead Arranger or (y) becomes
available to such Lead Arranger or any of its affiliates on a nonconfidential basis from a source other than the Company. For purposes of this Section, “Confidential Information” means all confidential and non-public information received
from or on behalf of the Company or the Borrower relating to the Company or the Borrower or any of its businesses, or to the Transaction, other than any such information that is available to the Lead Arrangers on a nonconfidential basis prior to
disclosure by the Company from a source which is not, to the actual knowledge of the recipient, prohibited from disclosing such information by a confidentiality agreement or other legal or fiduciary obligation to the Company”. Any Person
required to maintain the confidentiality of Confidential Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has taken normal and reasonable precautions and exercised due care to
maintain the confidentiality of such Confidential Information. In addition to other remedies, the Company shall be entitled to seek specific performance and injunctive and other equitable relief for breach of this Section. If the Term Loan Facility
closes, the Lead Arrangers’ obligations under this paragraph shall terminate and be superseded by the confidentiality provisions of the Operative Documents. Otherwise, the provisions of this paragraph shall expire one year following the date
hereof. 
  

	8.	Representations and Warranties of the Company. 

 The Company represents and warrants that
(i) all information (other than Projections (as defined below)) that has been or will hereafter be made available to the Lead Arrangers or any Lender by or on behalf of the Company, the Borrower, the Parent, their respective subsidiaries or any
of their respective representatives in connection with the transactions contemplated hereby (the “Information”), when taken as a whole, is and will be complete and correct in all material respects and does not and will not
contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not misleading in light of the circumstances under which such statements were or are made (after giving
effect to all updates thereto provided by the Company or on its behalf to the Lead Arrangers) and (ii) all projections and other forward-looking information that have been or will be prepared by or on behalf of the Company, the Borrower, the
Parent, their respective subsidiaries or any of their respective representatives and made available to the Lead Arrangers or any Lender or any prospective Lender (the “Projections”) have been or will be prepared in good faith
based upon assumptions that are believed by the preparer thereof to be reasonable at the time made available to the Lead Arrangers; it being understood that the Projections are as to future events and are not to be viewed as facts, are subject to
significant uncertainties and contingencies, many of which our out of your control, that no assurance can be given that any particular projection or other forward-looking information will be realized and that actual results during the period or
periods covered by the Projections may differ materially from the projected results. The Company agrees to supplement the Information from time to time until the Effective Date or this Commitment Letter terminates so that the representations and
warranties contained in this paragraph remain accurate and complete in all material respects under those circumstances.  
 In providing this
Commitment Letter, the Lead Arrangers are relying on the accuracy of the Information furnished to it by or on behalf of the Company, the Borrower, the Parent and their respective affiliates without independent verification thereof. 

  
 6 

	9.	Lead Arrangers Confirmation. 

 Each Lead Arranger hereby confirms that the Term Loan Facility is being
provided to and arranged for the Borrower on the basis of its properties, assets and credit only. 
  

	10.	No Third Party Reliance, Etc. 

 The agreements of the Lead Arrangers and the Commitment Party hereunder
and of any Lender that issues a commitment to provide financing under the Term Loan Facility are made solely for the benefit of the Company and may not be relied upon or enforced by any other person. The Company may not assign or delegate any of its
rights or obligations hereunder without the Commitment Party’s prior written consent. The Commitment Party may assign its commitment hereunder, in whole or in party, to any of its affiliates (provided than no such assignment to an affiliate
shall reduce the amount of the Commitment Party’s commitment hereunder). This Commitment Letter may not be amended or modified, or any provisions hereof waived, except by a written agreement signed by all parties hereto. 

The Company hereby acknowledges that the Commitment Party and the Lead Arrangers are acting pursuant to a contractual relationship on an arm’s
length basis and the parties hereto do not intend that the Commitment Party or the Lead Arrangers act or be responsible as a fiduciary to the Company, its management, stockholders, creditors or any other person. Each of the parties hereby
expressly disclaims any fiduciary relationship and agrees that they are each responsible for making their own independent judgments with respect to any transactions entered into between them. The Company also hereby acknowledges that neither the
Commitment Party nor any Lead Arranger has advised and is not advising the Company as to any legal, accounting, regulatory or tax matters and that the Company is consulting its own advisors concerning such matters to the extent it deems
appropriate. 
 The Company acknowledges that the Commitment Party and the Lead Arrangers and/or one or more of their respective affiliates
(the Commitment Party and the Lead Arrangers, together with their respective affiliates, being collectively, the “Group”) may provide financing, equity capital, financial advisory and/or other services to other clients.
Members of the Group and businesses within the Group generally act independently of each other, both for their own account and for the account of clients. Accordingly, there may be situations where parts of the Group and/or their clients either now
have or may in the future have interests, or take actions, that may conflict with the Company’s interests. In recognition of the foregoing, the Company agrees that the Group is not required to restrict its activities as a result of this
Commitment Letter and that the Group may undertake any business activity without further consultation with or notification to the Company. Neither this Commitment Letter nor the receipt by the Commitment Party and the Lead Arrangers of confidential
information nor any other matter will give rise to any fiduciary, equitable or contractual duties (including without limitation, any duty of trust or confidence) that would prevent or restrict the Group from acting on behalf of other customers or
for its own account. However, consistent with the Commitment Party’s policy to hold in confidence the affairs of its customers, the Commitment Party or any of its affiliates will not furnish confidential information obtained from the Company to
any of the Commitment Party’s other customers, and it will treat confidential information relating to the Company and its affiliates with the same degree of care as it treats its own confidential information. Nothing in this Commitment Letter
shall prevent the Group from disclosing any confidential information as required by law, regulation, regulatory authority or other applicable judicial or government order. Furthermore, no Commitment Party nor any of its affiliates will make
available to the Company confidential information that the Commitment Party obtained or may obtain from any other person. 
 In connection
with all aspects of each transaction contemplated by this Commitment Letter, you acknowledge and agree, and acknowledge your affiliates’ understanding, that: (i) the Term Loan Facility and any related arranging or other services described
in this letter is an arm’s-length commercial transaction between you and your affiliates, on the one hand, and the Commitment Party and the Lead Arrangers, on the other hand, and you are capable of evaluating and understanding and understand
and accept the terms, risks and conditions of the transactions contemplated by this Commitment Letter; (ii) in connection with the transactions contemplated by this Commitment Letter, the Commitment Party and the Lead Arrangers are and have
been acting solely as a principal and are not the financial advisor, agent or fiduciary, for you or any of your affiliates, stockholders, creditors or employees; (iii) neither the Commitment Party nor any Lead Arrangers has assumed an advisory,
agency or fiduciary responsibility in your or your affiliates’ favor with respect to any of the transactions contemplated hereby (irrespective of whether the 

  
 7 

 Commitment Party or the Lead Arrangers has advised or is currently advising you or your affiliates on other
matters); (iv) the Commitment Party, the Lead Arrangers and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ from yours and your affiliates and neither the Commitment Party nor any
Lead Arranger has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; and (v) neither the Commitment Party nor any Lead Arranger has provided any legal, accounting, regulatory or tax
advice with respect to any of the transactions contemplated hereby. 
 In addition, you acknowledge that you have retained Citi as a financial advisor (in
such capacity, the “Financial Advisor”) in connection with the Merger. You agree not to assert any claim you might allege based on any actual or potential conflicts of interest that might be asserted to arise or result from, on the
one hand, the engagement of any such Financial Advisor and, on the other hand, our and our affiliates’ relationships with you as described and referred to herein. 
  

	11.	Governing Law, Etc. 

 This Commitment Letter shall be governed by, and construed in accordance with, the
law of the State of New York. This Commitment Letter and the Fee Letter set forth the entire agreement between the parties with respect to the matters addressed herein and supersede all prior communications, written or oral, with respect hereto.
This Commitment Letter may be executed in any number of 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 Commitment Letter. Delivery of an executed
counterpart of a signature page to this Commitment Letter by telecopier or a .pdf transmission shall be as effective as delivery of an original executed counterpart of this Commitment Letter. Sections 4 through 7 and 10 through 14 hereof shall
survive the termination of the Commitment Party’s commitment hereunder; provided, that Section 5, Section 6, the second paragraph of Section 7 and Section 8 hereof shall be superseded by the corresponding provisions
of the Operative Documents upon the execution and delivery thereof, which corresponding provisions of the Operative Documents shall cover periods prior to the Closing Date. 

Each of the parties hereto agrees that this Commitment Letter is a binding and enforceable agreement (subject to the effects of bankruptcy, insolvency,
fraudulent transfer, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors’ rights generally and general principles of equity) with respect to the subject matter contained herein, including an agreement
to negotiate in good faith the Operative Documents by the parties hereto in a manner consistent with this Commitment Letter, it being acknowledged and agreed that the funding of the Term Loan Facility is subject to the applicable conditions
precedent set forth in Section 1 of this Commitment Letter and the conditions specified under the heading “Conditions to Availability of the Term Loans on the Closing Date” in Exhibit A and in Exhibit B
hereto. 
  

	12.	Taxes; Payments. 

 All payments by the Company under this Commitment Letter (including
without limitation, the Fee Letter) shall, except as otherwise provided herein, be made in U.S. dollars in New York, New York and shall be made free and clear of and without deduction for any and all present or future taxes, levies, imposts,
deductions, charges or withholdings, and all liabilities with respect thereto (collectively, “Taxes”). If the Company is required by law to deduct any Taxes from or in respect of any sum payable by the Company to the
Commitment Party, such sum will be increased as may be necessary so that, after making the required deductions, the Commitment Party receives an amount equal to the sum it would have received had no such deductions been made. The Company will
promptly pay any and all such Taxes and will indemnify the Commitment Party for and hold it harmless against any such Taxes and any liability arising therefrom or with respect thereto. In addition, the Company will pay any present or future stamp or
documentary taxes or other excise or property taxes, charges or similar levies that arise from any payment by the Company made under this Commitment Letter or from the execution or delivery of, or otherwise with respect to, this Commitment
Letter. 

  
 8 

 To the fullest extent permitted by law, the Company shall make all payments hereunder regardless of any defense
or counterclaim, including, without limitation, any defense or counterclaim based on any law, rule or policy which is now or hereafter promulgated by any governmental authority or regulatory body and which may adversely affect the Company’s
obligation to make, or the right of the Commitment Party to receive, such payments by the Company. 
 The obligation of the Company in respect of any sum
due from it to the Commitment Party hereunder shall, notwithstanding any judgment in a currency other than U.S. dollars, be discharged only to the extent that, on the business day following receipt by the Commitment Party of any sum adjudged to be
so due in such other currency, the Commitment Party may in accordance with normal banking procedures purchase U.S. dollars with such other currency. If the U.S. dollars so purchased are less than the sum originally due to the Commitment Party in
U.S. dollars from the Company, the Company agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Commitment Party against such loss, and if the U.S. dollars so purchased exceed the sum originally due to the
Commitment Party in U.S. dollars from the Company, the Commitment Party agrees to remit to the Company such excess. 
  

	13.	Consent to Jurisdiction, Etc. 

 Each party hereto hereby irrevocably and unconditionally (i) agrees
that it will not commence any action, litigation or proceeding of any kind or description, whether in law or in equity, whether in contract, tort or otherwise, against any other party hereto arising out of or in any way relating to this Commitment
Letter or the Fee Letter or the transactions contemplated hereby or thereby in any forum other than the courts of the State of New York sitting in New York County, and of the United States District Court for the Southern District of New York, and
any appellate court from any thereof, (ii) submits to the exclusive jurisdiction of such courts and agrees that all claims in respect of any such action, litigation or proceeding shall be heard and determined in such New York State court or, to
the fullest extent permitted by applicable law, in such Federal court; (iii) waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of such action or proceeding; (iv) consents to the
service of any and all process in any such action or proceeding by the mailing of copies of such process to CT Corporation at 111 Eighth Avenue, New York, NY 10011, United States of America, or in any other manner permitted by applicable law; and
(v) agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

To the extent that the Company has or hereafter may acquire any immunity from jurisdiction of any court, set-off or any legal process (whether through service
or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, the Company hereby irrevocably waives such immunity in respect of its obligations under this Commitment Letter.

  

	14.	Waiver of Jury Trial. 

 Each party hereto irrevocably waives all right to trial by jury in any action,
proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Commitment Letter or the transactions contemplated hereby or the actions of the parties hereto in the negotiation, performance or
enforcement hereof. 
  

	15.	Patriot Act Compliance. 

 The Commitment Party hereby notifies you that, pursuant to the
requirements of the USA PATRIOT ACT (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Company and the
Borrower, which information includes the name and address of the Company and the Borrower and other information that will allow the Commitment Party to identify the Company and the Borrower in accordance with the Patriot Act. In that connection, the
Commitment Party may also request corporate formation documents, or other forms of identification, to verify information provided. This notice is given in accordance with the requirements of the Patriot Act and is effective as to the Commitment
Party and the Lenders. 
 [Remainder of page intentionally left blank] 

  
 9 

 Please indicate the Company’s acceptance of the provisions hereof by signing the enclosed copy of this
Commitment Letter and the Fee Letter and returning them to Susan L. Hobart of Shearman & Sterling LLP, 599 Lexington Ave., New York, New York 10022 at or before 11:00 a.m. (New York City time) on January 25, 2016, the time at which the
commitments of the Commitment Party hereunder (if not so accepted prior thereto) will terminate. If the Company elects to deliver this Commitment Letter by telecopier, please arrange for the executed original to follow by next-day courier. 

 

					
	
	Very truly yours,
	
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	 /s/ Susan M. Olsen

		 	Name: Susan M. Olsen
		 	Title: Authorized Signatory

 Signature Page – Term Loan Commitment Letter 

			
	
	Accepted and agreed to as of the date first written above:
	
	TYCO INTERNATIONAL FINANCE S.A.
		
	By	 	 /s/ Joseph Mandala

		 	Name: Joseph Mandala
		 	Title: Vice President & Assistant Treasurer / Director
		
	By	 	 /s/ Andrea Goodrich

		 	Name: Andrea Goodrich
		 	Title: Director

 Signature Page – Term Loan Commitment Letter 

 Exhibit A 

SUMMARY OF TERMS AND CONDITIONS 

$4.0 BILLION SENIOR UNSECURED TERM LOAN FACILITY 
  

			
	BORROWER:	  	Tyco International Holding S.a.r.l., a Luxembourg société à responsabilité limitée (which may, at the Company’s election, be converted into a Luxembourg société
anonyme prior to the Closing Date) (the “Borrower”).
		
	GUARANTORS:	  	None.
		
	COLLATERAL:	  	None.
		
	JOINT LEAD ARRANGERS	  	
	AND JOINT BOOKRUNNERS:	  	Citigroup Global Markets Inc. (“CGMI”) and additional joint lead arrangers and joint bookrunners appointed as contemplated by the Commitment Letter (the “Lead Arrangers”).
		
	ADMINISTRATIVE AGENT:	  	An affiliate of CGMI (the “Administrative Agent”).
		
	LENDERS:	  	An affiliate of CGMI and a syndicate of banks to be assembled by Citi in accordance with Section 3 of the Commitment Letter (collectively, the “Lenders”).
		
	FACILITY AMOUNT:	  	An aggregate principal amount of up to US$4.0 billion of senior unsecured term loans (the “Term Loans”), less all reductions (if any) pursuant to the Mandatory Commitment Reduction section below.
		
	TYPE OF FACILITY:	  	3.5 year senior unsecured term loan facility (the “Term Loan Facility”).
		
	LOAN DOCUMENTATION:	  	The definitive loan documentation for the Term Loan Facility (the “Loan Documentation”) will contain representations and warranties, covenants, events of default and other provisions consistent with and
substantially similar to the Amended and Restated Five-Year Senior Unsecured Credit Agreement dated as of August 7, 2015 among Tyco International Finance S.A. (the “Company”), as borrower, Tyco International plc, an Irish
public limited company (the “Parent”), as guarantor, the lenders party thereto and Citibank, N.A., as administrative agent (as in effect on the date hereof, the “Existing Credit Agreement”), and shall
contain only the representations, warranties, covenants and events of default set forth below. The Loan Documentation will be negotiated in good faith to reflect the terms set forth in the Commitment Letter and this term sheet and shall otherwise be
on terms substantially similar to the Existing Credit Agreement. For purposes hereof, including the Commitment

  

			
		  	Letter and all attachments thereto, the term “substantially similar to the Existing Credit Agreement” (and words of similar import) means substantially the same as the Existing Credit Agreement, with modifications
(a) as are necessary to reflect the terms specifically set forth in the Commitment Letter (including the exhibits thereto) (including the nature of the credit facility as a term loan facility) and the Fee Letter, (b) to reflect any changes in
law or accounting standards since the date of the Existing Credit Agreement and (c) to accommodate the facts that (x) the borrower is the Borrower (as opposed to the Company), (y) there will be no guarantees by any parent entity of the Borrower
or any such parent entity’s other subsidiaries and (z) only the Borrower and, as applicable, its subsidiaries, but not the Company, the Parent or any of the Parent’s other subsidiaries (including the Target and its subsidiaries) will be
subject to the restrictions, covenants or other provisions set forth in the Loan Documentation.
		
		  	Notwithstanding anything contained herein or otherwise to the contrary, the Loan Documentation shall not (i) require the Target or any of its subsidiaries to guarantee, grant liens on their respective properties or assets or
otherwise provide, directly or indirectly, credit or collateral support for the Term Loans or any other obligation under the Term Loan Facility, whether prior to or after the Closing Date, or (ii) contain any representations, warranties, covenants
or events of default, or any other terms or conditions, in each case that would apply to the Target, any of its subsidiaries or any of their respective properties or assets, whether prior to or after the Closing Date.
		
	PURPOSE:	  	The proceeds of the Term Loans shall be used to finance the Transaction and to pay costs and expenses in connection therewith.
		
	CLOSING DATE:	  	The date that all conditions set forth in Exhibit B have been met or waived and the Merger is consummated.
		
	INTEREST RATES:	  	As set forth in Addendum I.
		
	AVAILABILITY:	  	The Term Loan Facility shall be available for a single drawing on the Closing Date and any undrawn commitments shall automatically be terminated on the Closing Date.
		
	MATURITY:	  	The Term Loan Facility shall terminate and all amounts outstanding thereunder shall be due and payable in full 3.5 years after the Closing Date. The Term Loans shall not amortize.
		
	OPTIONAL PREPAYMENTS AND COMMITMENT	  	
	REDUCTIONS:	  	The Borrower may prepay the Term Loan Facility in whole or in part at any time without premium or penalty in minimum amounts of $10,000,000 and integral multiples of $1,000,000 and with appropriate notice, subject to reimbursement
of the Lenders’ breakage and redeployment costs in the case of prepayment of LIBOR borrowings.

  
 2 

			
		  	The commitments under the Term Loan Facility may be irrevocably canceled in whole or in part by the Borrower, subject to the minimum threshold amounts set forth in the previous sentence.
	MANDATORY COMMITMENT	  	
	REDUCTIONS:	  	Prior to the Closing Date, the commitments in respect of the Term Loans shall be automatically reduced with (a) all net after-tax cash proceeds (which are above (x) $100 million for any single transaction or series of related
transactions and (y) $350 million in the aggregate) from non-ordinary course sales of property and assets of the Parent or any of its subsidiaries, including sales or issuances of common equity of the Parent’s subsidiaries to third parties
(“Asset Sale Proceeds”); provided that Asset Sale Proceeds shall not include any such net cash proceeds that are reinvested, or are intended to be reinvested, within 12 months following receipt, (b) all net cash
proceeds from the issuance or incurrence of additional debt for borrowed money of the Parent or any of its subsidiaries, other than Excluded Debt and (c) all net cash proceeds from any issuance of equity interests prior to the Closing Date by the
Parent, other than Excluded Equity Issuances.
		
		  	“Excluded Debt” means (i) intercompany debt among any of the Parent and its subsidiaries, (ii) borrowings under the Existing Credit Agreement, as it may be amended, restated, refinanced or replaced, so
long as the aggregate principal amount of loans outstanding thereunder does not exceed $3.0 billion, (iii) indebtedness incurred for the purpose of renewing, refinancing or extending existing debt of the Parent and its subsidiaries, including
the refinancing of existing notes, bonds or debentures that mature prior to the latest possible maturity date of the Term Loans, for substantially the same, or lesser, aggregate principal amount (plus, as applicable, an additional amount to cover
any accrued interest on the indebtedness being refinanced and any prepayment penalties or premiums and customary fees and expenses incurred in connection with such refinancing), (iv) up to $500 million in loans or note issuances to finance the
Parent’s working capital, investments in subsidiaries of the Parent and capital expenditures, (v) commercial paper and (vi) ordinary course lease financings, purchase money debt, letter of credit facilities, overdraft protection and
short term working capital facilities, other local lines of credit for non-U.S. operating subsidiaries in the ordinary course of business, factoring arrangements, hedging and cash management and equipment financings.
		
		  	“Excluded Equity Issuances” means any equity issuances pursuant to any employee or director stock plans, other benefit plans and dividend reinvestment and direct stock purchase plans established in the ordinary
course of business.
		
	CONDITIONS PRECEDENT	  	
	TO EFFECTIVE DATE:	  	The effectiveness of the Term Loan Facility, if the Borrower elects to have the Term Loan Facility become effective prior to the Closing Date, will be subject to satisfaction of the following conditions precedent:

  
 3 

			
		  	 (i)     Delivery of executed Loan Documentation (including, without limitation, customary legal opinions of
counsel for the Borrower, board resolutions, incumbency/specimen signature certificates and other customary closing documents), for the Term Loan Facility.

		
		  	 (ii)    All fees due to the Administrative Agent, the Commitment Party and any other Lead Arranger(s) invoiced at
least three (3) business days prior to the date of such effectiveness (the “Effective Date”).

		
		  	 (iii)  Delivery of all documentation and other information required by regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including, without limitation, the Patriot Act, at least three (3) business days prior to the Effective Date, to the extent requested in writing by the Commitment Party at least
ten (10) business days prior to the Effective Date.

	CONDITIONS TO	  	
	AVAILABILITY OF THE	  	
	TERM LOANS ON THE	  	
	CLOSING DATE:	  	
		  	The availability of the Term Loans on the Closing Date is subject solely to (i) the satisfaction (or waiver) of the conditions set forth in Exhibit B to the Commitment Letter and (ii) the delivery of a borrowing notice.
	ACTIONS BETWEEN	  	
	EFFECTIVE DATE AND	  	
	CLOSING DATE:	  	
		  	If the Effective Date occurs prior to the Closing Date, during the period from and including the Effective Date to and including the termination of all commitments with respect to the Term Loan Facility (whether as a result of the
funding of the Term Loans on the Closing Date or otherwise as provided in the Commitment Letter or this Term Sheet) (the “Limited Conditionality Period”), and notwithstanding (i) that any representation made on the
Effective Date (excluding, for the avoidance of doubt, the Specified Representations and/or Acquisition Agreement Representations) was incorrect, (ii) any failure by the Borrower to comply with the affirmative covenants, negative covenants and
financial covenant, (iii) any provision to the contrary in any Operative Documents or otherwise or (iv) that any condition to the occurrence of the Effective Date may subsequently be determined not to have been satisfied, neither the
Administrative Agent nor any Lender shall be entitled to (1) rescind, terminate or cancel any of its commitments under the Term Loan Facility (except as set forth in “Mandatory Commitment Reductions” above), (2) rescind,
terminate or cancel the Operative Documents or exercise any right or remedy or make or enforce any claim under the Operative Documents, related notes, related fee letter or otherwise it may have to the extent to do so would prevent, limit or delay
the making of its Term

  
 4 

			
		  	Loan, (3) refuse to participate in making its Term Loan; provided that the applicable conditions precedent to the making of the Term Loans set forth in Exhibit B to the Commitment Letter have been satisfied, or
(4) exercise any right of set-off or counterclaim in respect of its Term Loan to the extent to do so would prevent, limit or delay the making of its Term Loan. For the avoidance of doubt, (A) the rights and remedies of the Lenders and the
Administrative Agent shall not be limited in the event that any applicable condition precedent set forth in Exhibit B to the Commitment Letter is not satisfied on the Closing Date and (B) immediately after the expiration of the Limited
Conditionality Period, all of the rights, remedies and entitlements of the Administrative Agent and the Lenders shall be available notwithstanding that such rights were not available prior to such time as a result of the foregoing.
	REPRESENTATIONS	  	
	AND WARRANTIES:	  	Substantially similar to those contained in the Existing Credit Agreement, but applicable only to the Borrower and, as appropriate, its subsidiaries or material subsidiaries (and not for the avoidance of doubt, to the Parent, the
Company or any of their other subsidiaries (including, after the Closing Date, the Target and its subsidiaries)), as the case may be, including only the following (each with customary materiality and other exceptions consistent with those in the
Existing Credit Agreement): (i) corporate existence and status; (ii) corporate power and authority, enforceability; (iii) transactions do not require governmental approvals or result in violation of material law, governmental orders,
contracts or organizational documents; (iv) specified financial statements prepared in conformity with U.S. GAAP and no material adverse change; (v) no material adverse litigation, proceeding or investigation or adverse environmental matters; (vi)
status under Investment Company Act; (vii) tax matters; (viii) ERISA matters; (ix) accuracy of disclosure; (x) margin regulations; (xi) existence and status of subsidiaries and (xii) anti-corruption laws and sanctions.
		
	COVENANTS:	  	Substantially similar to those contained in the Existing Credit Agreement, but applicable only to the Borrower and, as appropriate, its subsidiaries or material subsidiaries (and not for the avoidance of doubt, to the Parent, the
Company or any of their other subsidiaries (including, after the Closing Date, the Target and its subsidiaries)), as the case may be, including only the following (each with customary materiality and other exceptions consistent with those in the
Existing Credit Agreement): (i) delivery of certain information, financial statements and other reporting requirements substantially consistent with the Existing Credit Agreement which, for the avoidance of doubt, shall include consolidated
financial statements of the Borrower after the Closing Date; (ii) preservation of business; conduct of business; (iii) maintenance of properties and insurance; (iv) maintenance of books and records, and inspection rights; (v) compliance with laws;
(vi) use of proceeds; (vii) limitation on liens (with exceptions substantially similar to those set forth in the Existing Credit Agreement); (viii) limitation on mergers, consolidations, the transfer of all or substantially all assets of
the

  
 5 

			
		  	Borrower (with successors to be permitted subject to certain conditions); (ix) limitation on ability of subsidiaries of the Borrower to restrict dividends or other distributions; (x) transactions with affiliates (which covenant
shall be modified in a manner to be mutually agreed to limit the transfer of assets from the Borrower and its subsidiaries to other subsidiaries of the Parent, subject to exceptions to be agreed); (xi) delivery of guarantees by subsidiaries of the
Borrower that guarantee any other material debt of the Borrower, (xii) limitation on subsidiary debt and (xiii) anti-corruption laws and sanctions.
		
	FINANCIAL COVENANT:	  	The following financial covenant as to the Borrower and its consolidated subsidiaries: Maintenance of a ratio (the “Total Leverage Ratio”) of Consolidated Total Debt to Consolidated EBITDA (with each such
term to be defined in a manner corresponding to the definition of such term in the Existing Credit Agreement but with reference only to the Borrower and its subsidiaries (and not for the avoidance of doubt, to the Parent, the Company or any of their
other subsidiaries (including, after the Closing Date, the Target and its subsidiaries))) on a rolling four fiscal quarter basis not to exceed 3.50 to 1.00.
		
	EVENTS OF DEFAULT:	  	Substantially similar to those contained in the Existing Credit Agreement including the following (“Events of Default”), as to the Borrower and, where appropriate, its material subsidiaries (and not for the
avoidance of doubt, to the Parent, the Company or any of their other subsidiaries (including, after the Closing Date, the Target and its subsidiaries)): (i) nonpayment of principal and, subject to customary grace periods, interest, fees or
other amounts; (ii) any representation or warranty proving to have been materially incorrect when made, deemed made or confirmed; (iii) failure to perform or observe covenants set forth in the Loan Documentation, with notice and cure periods as
applicable; (iv) failure to make any payment when due in respect of, or acceleration of the maturity of, other indebtedness in excess of $100,000,000; (v) bankruptcy and insolvency defaults (with grace period for involuntary proceedings);
(vi) failure to pay monetary judgments in excess of $100,000,000 in the aggregate (subject to certain adjustments for insured amounts) for a period of 60 days; (vii) customary ERISA defaults; (viii) change of control; (ix) repudiation, invalidity or
unenforceability of any Loan Documentation; or (x) change in control of the Borrower (subject to customary holding company exception).
		
	ASSIGNMENTS AND	  	
	PARTICIPATIONS:	  	Subject to the limitations set forth in the Commitment Letter, each Lender will be permitted to make assignments in a minimum amount of $10,000,000 to other financial institutions approved in writing in advance by the Administrative
Agent and, so long as no Event of Default has occurred and is continuing, the Borrower, which approval shall not be unreasonably withheld or delayed; provided, however, (i) that no approval of the Borrower or the Administrative Agent shall be
required in connection with assignments to other Lenders, to any affiliate of a Lender, or to any Approved Fund (as such term shall be defined in the

  
 6 

			
		  	Loan Documentation) and (ii) the Borrower shall be deemed to have consented to an assignment unless it shall have objected within 20 business days after having notice thereof (“Deemed Consent”); provided,
further that prior to the funding of the Term Loans on the Closing Date, (i) the Borrower’s consent right described above shall apply, and there shall be no Deemed Consent, unless a bankruptcy Event of Default of the Borrower shall have
occurred and be continuing at the applicable time and (ii) unless otherwise consented to in writing in advance by the Borrower, any assignment of commitments to make Term Loans (including assignments to another Lender, an affiliate of a Lender or an
Approved Fund) must be to commercial and investment banks, in each case, whose senior, unsecured, long-term indebtedness has a rating of BBB- or better by S&P and Baa3 or better by Moody’s. An assignment fee of $3,500 will be charged by the
Administrative Agent with respect to each assignment (other than assignments to affiliates). Each Lender will also have the right, without consent of the Borrower or the Administrative Agent, to assign as security all or part of its rights under the
Loan Documentation to any Federal Reserve Bank. Lenders will be permitted to sell participations with voting rights limited to matters which require the approval of all affected Lenders or all Lenders. Each Lender shall keep a record of all
participations granted by it in the loans and shall make such record available to the Borrower upon request.
		
	WAIVERS AND	  	
	AMENDMENTS:	  	Amendments and waivers of the provisions of the Loan Documentation will require the approval of Lenders holding loans or commitments representing more than 50% of the aggregate amount of loans and commitments under the Term Loan
Facility (“Required Lenders”), except that the consent of all the Lenders affected thereby (or, in the case of clause (iv), all Lenders) shall be required with respect to (i) increases in the commitment of such Lenders, (ii)
reductions of principal, interest or fees, (iii) postponements of the scheduled date of payment of or forgiveness of any principal, interest or fees or postponement of the date of expiration of any commitments and (iv) modification of the percentage
of Lenders required to amend or waive any Lender rights.
		
	INDEMNIFICATION:	  	The Borrower will indemnify and hold harmless the Administrative Agent, the Lead Arrangers, each Lender and their respective affiliates and their and their affiliates’ respective officers, directors, employees, agents and
advisors (the “Indemnified Parties”) from and against all losses, liabilities, claims, damages or expenses arising out of or relating to any actual or prospective claim, litigation, investigation or proceeding (regardless of
whether any Indemnified Party is a party thereto), relating to the Term Loan Facility, the Borrower’s use of loan proceeds or the commitments, including, but not limited to, reasonable attorneys’ fees and settlement costs, except in the
case of the Indemnified Parties’ or Related Indemnified Parties’ gross negligence or willful misconduct or material breach in bad faith of its agreements under the Loan Documentation or disputes that (i) are solely among Lenders and (ii)
do not arise from the Borrower’s breach of its obligations under the Term

  
 7 

			
		  	Loan Facility or applicable law. This indemnification shall survive and continue for the benefit of all such persons or entities, notwithstanding any failure of the Term Loan Facility to close. The Indemnified Parties shall have no
liability for any indirect, special consequential or punitive damages.
		
		  	For purposes hereof, a “Related Indemnified Party” of an Indemnified Party means (1) any controlling person or controlled affiliate of such Indemnified Party, (2) the respective directors, officers, or
employees of such Indemnified Party or any of its controlling persons or controlled affiliates and (3) the respective agents of such Indemnified Party or any of its controlling persons or controlled affiliates, in the case of this clause (3), acting
at the express instructions of such Indemnified Party, such controlling person or such controlled affiliate.
		
	GOVERNING LAW:	  	State of New York.
		
	PRICING/FEES/	  	
	EXPENSES:	  	As set forth in Addendum I.
		
	OTHER:	  	The parties shall waive any right to a trial by jury. The Borrower shall waive any right to sovereign immunity. The parties shall submit to the exclusive jurisdiction of the courts of and in New York, appoint an agent in New York
for service of process and waive objection to venue and forum non conveniens. Each Lender that executes and delivers the Loan Documentation shall confirm in writing therein that the Term Loan Facility is being provided for the
Borrower on the basis of its properties, assets and credit only. The Loan Documentation will contain customary judgment currency provisions, rights of setoff and sharing of setoff, confidentiality provisions and defaulting lender
provisions.
		
	 COUNSEL TO THE

ADMINISTRATIVE AGENT,

THE LEAD ARRANGER:
	  	
	  	Shearman & Sterling LLP.

  
 8 

 ADDENDUM I 

PRICING, FEES AND EXPENSES 
  

			
	INTEREST RATES:	  	At the Borrower’s option, any loan under the Term Loan Facility that is made to it will bear interest at a rate equal to (i) in the case of LIBOR loans, LIBOR (but not less than zero) plus the Applicable Margin, as determined
in accordance with the Performance Pricing Grid attached as Addendum II hereto, and (ii) in the case of Alternate Base Rate loans, the sum of (A) Alternate Base Rate (to be defined as the highest of (a) one month LIBOR (but not less than zero) plus
1%, (b) the prime rate of the Administrative Agent or its affiliate bank and (c) the Federal Funds rate (but not less than zero) plus .50%) plus (B) the Applicable Margin, as determined in accordance with the Performance Pricing Grid attached as
Addendum II hereto.
		
		  	The Borrower may select interest periods of 1, 2, 3 or 6 months or such other period of time as may at the time be requested by the Borrower and agreed to by the Lenders, for LIBOR loans. Interest shall be payable at the end of the
selected interest period, but no less frequently than quarterly.

 A default rate shall apply on all overdue amounts at a rate per annum of 2% above (i) in
the case of overdue principal of any loan, the applicable interest rate, or (ii) in the case of any other amount, the interest rate applicable to Alternate Base Rate loans. 

 

			
	PERFORMANCE	  	
	PRICING:	  	The Applicable Margin for LIBOR loans shall be 150 bps and Applicable Margin for Alternate Base Rate loans shall be 50 bps. Following delivery of financial statements for the first full fiscal quarter after the Closing Date, the
Applicable Margin shall be the rate per annum set forth in the Performance Pricing Grid attached as Addendum II hereto opposite the applicable Total Leverage Ratio.
	CALCULATION OF	  	
	INTEREST AND FEES:	  	Other than calculations in respect of interest at the prime rate (which shall be made on the basis of actual number of days elapsed in a 365/366 day year), all calculations of interest and fees shall be made on the basis of actual
number of days elapsed in a 360 day year.
	COST AND YIELD	  	
	PROTECTION:	  	Customary for transactions and facilities of this type, including, without limitation, in respect of breakage or redeployment costs incurred in connection with prepayments, changes in capital adequacy and capital requirements or
their interpretation (including, for the avoidance of doubt, any changes resulting from requests, rules, guidelines or directives concerning capital adequacy (x) issued in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act
or (y) promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar

  
 1 

			
		  	authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, regardless of the date enacted, adopted or issued), illegality, unavailability, reserves, payments free and clear of withholding
or other taxes and tax gross-up. The Borrower will provide appropriate documentation, including receipts, when requested, to indicate payment of any such taxes.
		
	EXPENSES:	  	The Borrower will pay all reasonable out-of-pocket costs and expenses only of the Lead Arranger and the Administrative Agent associated with the preparation, due diligence, administration, syndication and closing of all Loan
Documentation, including, without limitation, the legal fees of counsel to the Lead Arranger and the Administrative Agent, regardless of whether or not the Term Loan Facility is closed. The Borrower will also pay the out-of-pocket costs and expenses
of the Administrative Agent and each Lender in connection with the enforcement of any Loan Documentation during an Event of Default.

  
 2 

 ADDENDUM II 

PERFORMANCE PRICING GRID 
  

											
	 Category
	  	 1. Total Leverage Ratio
	  	Applicable
Margin
for
LIBOR
Loans	 	 	Applicable
Margin
for
Alternate
Base Rate
Loans	 
	 I
	  	< than 1.25:1.00	  	 	1.25	% 	 	 	0.25	% 
	 II
	  	> than 1.25:1.00 but < than 2.00:1.00	  	 	1.375	% 	 	 	0.375	% 
	 III
	  	> than 2.00:1.00 but < than 2.75:1.00	  	 	1.50	% 	 	 	0.50	% 
	 IV
	  	> than 2.75:1.00	  	 	1.75	% 	 	 	0.75	% 

			
	CONFIDENTIAL	  	EXHIBIT B

 Summary of Additional Conditions Precedent 

All capitalized terms used herein but not defined herein shall have the meanings provided in the Commitment Letter (including the other exhibits thereto) to
which this Summary of Additional Conditions Precedent is attached. 
 The borrowing under the Term Loan Facility shall be subject to the following
additional conditions precedent: 
 1. Operative Documents. Each party thereto shall have executed a credit agreement and, to the
extent required, promissory notes consistent with the terms and conditions set forth in this Commitment Letter (the “Operative Documents”). 

2. Commitments. Commitments in respect of the Term Loan Facility (in excess of the commitments of Citi pursuant to the Commitment
Letter) shall have been obtained from Lenders for an aggregate amount equal to not less than $3,600,000,000. 
 3. Consummation of
Merger. The Merger shall have been or shall be consummated substantially simultaneously with the borrowing under the Term Loan Facility in accordance with the Merger Agreement (as in effect on the date hereof) without giving effect to any
amendments, modifications, supplements or waivers thereto or consents thereunder that are materially adverse to the interests of the Lenders without the Commitment Party’s prior written consent (which consent shall not be unreasonably withheld,
conditioned or delayed), it being understood and agreed that any such amendment, modification, supplement, waiver or consent related to the assets, business, results of operations, financial condition, credit worthiness or prospects of the Acquired
Business shall be deemed to be not materially adverse to the interests of the Lenders. 
 4. Financial Statements. The Commitment
Party shall have received (a) audited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Parent for the three fiscal years ended at least 60 days prior to the Closing Date;
(b) unaudited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Parent for each completed fiscal quarter (other than the fourth fiscal quarter in any fiscal year) ended after the date
hereof and at least 40 days prior to the Closing Date (with respect to which independent auditors shall have performed a SAS 100 review), which audited and unaudited financial statements shall be prepared in accordance with, or reconciled to, United
States generally accepted accounting principles; (c) unaudited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Borrower for one fiscal year ended at least 60 days prior to the
Closing Date and (d) unaudited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Borrower for each completed fiscal quarter (other than the fourth fiscal quarter in any fiscal year)
ended after the date hereof and at least 40 days prior to the Closing Date (with respect to which independent auditors shall have performed a SAS 100 review). The Commitment Party hereby acknowledges receipt of the financial statements in the
foregoing clause (a) with respect to the Parent for the fiscal years ended September 25, 2015, September 26, 2014 and September 27, 2013. 

5. Confidential Information Memorandum. The Commitment Party shall have received an information memorandum with respect to the Term
Loan Facility in form and substance customary for transactions of this type and four-year Projections, to be used in connection with the syndication of the Term Loan Facility. 

6. Miscellaneous Closing Conditions. The Borrower shall have delivered to the Commitment Party customary (A) legal opinions,
(B) evidence of authority (including the incumbency of officers executing the Operative Documents), (C) corporate resolutions, (D) good standing certificates (E) closing certificates regarding satisfaction of the conditions
precedent to funding of the Term Loan Facility (which shall be limited solely to the conditions precedent set forth in this Exhibit B) and (F) a solvency certificate, in the form of Exhibit C hereto. 

  
 Exhibit B-1 

 7. Payment of Fees and Expenses. All fees due to the Administrative Agent, the Commitment
Party and the Lenders pursuant to the Fee Letter and, to the extent invoiced at least three (3) business days prior to the Closing Date, all reasonable and documented expenses to be paid or reimbursed to the Administrative Agent and the
Commitment Party on or prior to the Closing Date pursuant to the Commitment Letter, shall have been paid. 
 8. Patriot Act. The
Borrower shall have delivered the documentation and other information to the Commitment Party that are required by regulatory authorities under applicable “know-your-customer” rules and regulations, including the PATRIOT Act, at least
three (3) business days prior to the Closing Date, to the extent such documentation or other information is reasonably requested in writing at least ten (10) days prior to the Closing Date. 

9. Absence of Defaults; Accuracy of Representations. After giving effect to the Transaction and the making of the Term Loans on the
Closing Date, (A) there shall exist no Specified Event of Default under the Operative Documents and (B) each of the Specified Representations and the Acquisition Agreement Representations shall be true and correct in all material respects
(except Specified Representations and Acquisition Agreement Representations that are qualified by materiality, which shall be true and correct (after giving effect to any qualification therein) in all respects). 

For purposes hereof, the “Specified Representations” means the representations and warranties of the Borrower in the
Operative Documents relating as to corporate existence of the Borrower, corporate power and authority (as to execution, delivery and performance of the Operative Documents by the Borrower), the due authorization, execution, delivery (in each case,
by the Borrower) and enforceability (subject to customary enforceability exceptions) of the Operative Documents; no conflicts of the Term Loan Facility with charter documents of the Borrower, material law or with respect to debt instruments of the
Borrower in an outstanding principal amount in excess of $100,000,000; solvency as of the Closing Date after giving effect to the Transactions of the Borrower and its subsidiaries on a consolidated based (such representation and warranty to be
consistent with the solvency certificate in the form set forth in Exhibit C); Federal Reserve margin regulations; use of proceeds of the Term Loans not conflicting with FCPA; OFAC; and Investment Company Act. 

For purposes hereof, the “Acquisition Agreement Representations” means the representations and warranties made by the
Parent in the Merger Agreement as are material to the interests of the Lenders, but only to the extent that the Target or its affiliates have the right to terminate their obligations under the Merger Agreement as a result of a breach of such
representations and warranties. 
 For purposes hereof, “Specified Event of Default” means an event of default under
the Operative Documents arising from the bankruptcy of the Borrower or a payment event of default. 
 10. Parent Material Adverse
Effect. Except as disclosed in the Parent SEC Documents (as defined in the Merger Agreement) filed or furnished with the SEC since September 30, 2013 (including exhibits and other information incorporated by reference therein) and publicly
available prior to the date hereof (but excluding any forward-looking disclosures set forth in any “risk factors” section, any disclosures in any “forward-looking statements” section and any other disclosures included therein to
the extent they are predictive or forward-looking in nature) or in the applicable Section of the Parent Disclosure Letter (as defined in the Merger Agreement) (it being agreed that disclosure of any item in any Section of the Parent Disclosure
Letter shall be deemed disclosure with respect to any other Section of the Merger Agreement to which the relevance of such item is reasonably apparent on the face of such disclosure), since September 30, 2015, there has not been any Effect (as
defined in the Merger Agreement) that has had, or would reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect (as defined in the Merger Agreement). 

  
 Exhibit B-2 

 11. Organizational Structure. On the Closing Date, the Borrower shall own, directly or
indirectly, substantially all of the assets owned by the Company on the date hereof, other than those assets disposed to unaffiliated third parties after the date hereof. 

  
 Exhibit B-3 

 EXHIBIT C 

Form of Solvency Certificate 

Pursuant to Section [•] of the Term Loan Facility, the undersigned hereby certifies, solely in such undersigned’s capacity as [chief
financial officer] [chief accounting officer] [specify other officer with equivalent duties] of Tyco International Holding S.a.r.l. (the “Company”), and not individually, as follows: 

As of the date hereof, after giving effect to the consummation of the Transactions, including the making of the Term Loans under the Term Loan
Facility, and after giving effect to the application of the proceeds of such indebtedness: 
  

	 	a.	The fair value of the assets of the Company and its subsidiaries, on a consolidated basis, exceeds, on a consolidated basis, their debts and liabilities, subordinated, contingent or otherwise; 

 

	 	b.	The present fair saleable value of the property of the Company and its subsidiaries, on a consolidated basis, is greater than the amount that will be required to pay the probable liability, on a consolidated basis, of
their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; 

  

	 	c.	The Company and its subsidiaries, on a consolidated basis, are able to pay their debts and liabilities, subordinated, contingent or otherwise, as such liabilities become absolute and matured; and 

 

	 	d.	The Company and its subsidiaries, on a consolidated basis, are not engaged in, and are not about to engage in, business for which they have unreasonably small capital. 

For purposes of this Certificate, the amount of any contingent liability at any time shall be computed as the amount that would reasonably be
expected to become an actual and matured liability. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Term Loan Facility. 

[Signature Page Follows] 

  
 Exhibit C-1 

 IN WITNESS WHEREOF, the undersigned has executed this Certificate in such undersigned’s
capacity as [chief financial officer] [chief accounting officer] [specify other officer with equivalent duties] of the Company, on behalf of the Company, and not individually, as of the date first stated above. 

 

			
	TYCO INTERNATIONAL HOLDING S.A.R.L.
	
	By:                                   
                                         
                    
	Name:	 	
	Title:	 	

  
 Exhibit C-2

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