Document:

EX-10.1

 Exhibit 10.1 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT dated June 16, 2014 (the “Agreement”) is entered into by and among Advanced Micro
Devices, Inc., a Delaware corporation (the “Company”) and J.P. Morgan Securities LLC (“J.P. Morgan”), for itself and the other the several Initial Purchasers listed on Schedule 1 hereto (the “Initial
Purchasers”). 
 The Company and the Initial Purchasers are parties to the Purchase Agreement dated June 2, 2014 (the
“Purchase Agreement”), which provides for the sale by the Company to the Initial Purchasers of $500,000,000 aggregate principal amount of the Company’s 7.00% Senior Notes due 2024 (the “Securities”). As an
inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company has agreed to provide to the Initial Purchasers and their direct and indirect transferees the registration rights set forth in this Agreement. The execution and
delivery of this Agreement is a condition to the closing under the Purchase Agreement. 
 In consideration of the foregoing, the parties
hereto agree as follows: 
 1.       Definitions. As used in this Agreement, the following terms
shall have the following meanings: 
 “Business Day” shall mean any day that is not a Saturday, Sunday or other
day on which commercial banks in New York City are authorized or required by law to remain closed. 
 “Company”
shall have the meaning set forth in the preamble and shall also include the Company’s successors. 
 “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 
 “Exchange Dates” shall
have the meaning set forth in Section 2(a)(ii) hereof. 
 “Exchange Offer” shall mean the exchange offer by
the Company and any Guarantor of Exchange Securities for Registrable Securities pursuant to Section 2(a) hereof. 

“Exchange Offer Registration” shall mean a registration under the Securities Act effected pursuant to
Section 2(a) hereof. 
 “Exchange Offer Registration Statement” shall mean an exchange offer registration
statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any
document incorporated by reference therein. 
 “Exchange Securities” shall mean senior notes issued by the Company
and guaranteed by any Guarantor under the Indenture containing terms identical to the Securities (except that the Exchange Securities will not be subject to restrictions on 

 
transfer or to any increase in annual interest rate for failure to comply with this Agreement) and to be offered to Holders of Securities in exchange for Securities pursuant to the Exchange
Offer. 
 “Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the
Securities Act) prepared by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities or the Exchange Securities. 

“Guarantor” shall mean any subsidiary of the Company that provides a Subsidiary Guarantee under the Indenture after
the date of this Agreement. 
 “Holders” shall mean the Initial Purchasers, for so long as they own any
Registrable Securities, and each of their successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the Indenture; provided that for purposes of Sections 4 and 5 of this Agreement, the term
“Holders” shall include Participating Broker-Dealers. 
 “Indemnified Person” shall have the meaning set
forth in Section 5(c) hereof. 
 “Indemnifying Person” shall have the meaning set forth in Section 5(c)
hereof. 
 “Indenture” shall mean the Indenture relating to the Securities dated as of June 16, 2014 among
the Company, the Guarantors from time to time party thereto and Wells Fargo Bank, National Association, as trustee, and as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Purchasers” shall have the meaning set forth in the preamble. 

“Inspector” shall have the meaning set forth in Section 3(a)(xiii) hereof. 

“Issue Date” shall mean June 16, 2014. 

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof. 

“J.P. Morgan” shall have the meaning set forth in the preamble. 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding
Registrable Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its
affiliates shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further, that if the Company shall issue any additional Securities under the Indenture
prior to consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable Securities to which this Agreement relates shall be treated together as one class
for purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained. 

  
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 “Participating Broker-Dealers” shall have the meaning set forth in
Section 4(a) hereof. 
 “Person” shall mean an individual, partnership, limited liability company,
corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 

“Prospectus” shall mean the prospectus included in, or, pursuant to the rules and regulations of the Securities Act,
deemed a part of, a Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any
portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein. 

“Purchase Agreement” shall have the meaning set forth in the preamble. 

“Registrable Securities” shall mean the Securities; provided that the Securities shall cease to be
Registrable Securities (i) when a Registration Statement with respect to such Securities has become effective under the Securities Act and such Securities have been exchanged or disposed of pursuant to such Registration Statement, (ii) the
date that is two years from the Issue Date or (iii) when such Securities cease to be outstanding. 
 “Registration
Expenses” shall mean any and all expenses incident to performance of or compliance by the Company and any Guarantor with this Agreement, including without limitation: (i) all SEC, stock exchange or Financial Industry Regulatory Authority,
Inc. registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and disbursements of not more than one counsel for the Underwriters or
Holders for each such jurisdiction in connection with blue sky qualification of any Exchange Securities or Registrable Securities), (iii) all expenses of any Persons in preparing or assisting in preparing, word processing, printing and
distributing any Registration Statement, any Prospectus and any amendments or supplements thereto, any underwriting agreements, securities sales agreements or other similar agreements and any other documents relating to the performance of and
compliance with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws, (vi) the fees and disbursements of the Trustee and its
counsel, (vii) the fees and disbursements of counsel for the Company and any Guarantor and, in the case of a Shelf Registration Statement, the reasonable fees and disbursements of one counsel for the Holders (which counsel shall be selected by
the Majority Holders and which counsel may also be counsel for the Initial Purchasers) and (viii) the fees and disbursements of the independent public accountants of the Company and any Guarantor including the expenses of any special audits or
“comfort” letters required by or incident to the performance of and compliance with this Agreement, but excluding fees and expenses of counsel to the Underwriters (other than fees and expenses set forth in clause (ii) above) or the
Holders and underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder. 

  
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 “Registration Statement” shall mean any registration statement of the
Company and any Guarantor that covers any of the Exchange Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to any such registration statement, including post-effective amendments,
in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 

“SEC” shall mean the United States Securities and Exchange Commission. 

“Securities” shall have the meaning set forth in the preamble. 

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 

“Shelf Additional Interest Date” shall have the meaning set forth in Section 2(d) hereof. 

“Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and any
Guarantor that covers all or a portion of the Registrable Securities (but no other securities unless approved by a majority of the Holders whose Registrable Securities are to be covered by such Shelf Registration Statement) on an appropriate form
under Rule 415 under the Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained
therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 
 “Shelf
Request” shall have the meaning set forth in Section 2(b) hereof. 
 “Subsidiary Guarantees” shall mean
the guarantees of the Securities and Exchange Securities by any Guarantor under and in accordance with the terms of the Indenture. 

“Staff” shall mean the staff of the SEC. 

“Target Registration Date” shall have the meaning set forth in Section 2(d) hereof. 

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time to time. 

“Trustee” shall mean the trustee with respect to the Securities under the Indenture. 

“Underwriter” shall have the meaning set forth in Section 3(e) hereof. 

  
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 “Underwritten Offering” shall mean an offering in which Registrable
Securities are sold to an Underwriter for reoffering to the public. 
 2.       Registration Under
the Securities Act. 
 (a)      To the extent not prohibited by any applicable law or applicable
interpretations of the Staff, the Company and any Guarantor shall (i) cause to be filed an Exchange Offer Registration Statement covering an offer to the Holders to exchange all the Registrable Securities for Exchange Securities, (ii) use
their commercially reasonable efforts to cause such Registration Statement to become effective, (iii) commence the Exchange Offer promptly after the Exchange Offer Registration Statement is declared effective by the SEC and (iv) use their
commercially reasonable efforts to complete the Exchange Offer not later than 365 days after the Issue Date. The Company and any Guarantor shall cause the Exchange Offer Registration Statement to be effective continuously and shall keep the Exchange
Offer open for a period of not less than the minimum period required under applicable federal and state securities laws to consummate the Exchange Offer; provided, however, that in no event shall such period be less than 20 Business Days
after the date notice of the Exchange Offer is mailed to the Holders. 
 The Company and any Guarantor shall commence the Exchange Offer by
mailing the related Prospectus, appropriate letters of transmittal and other accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law, substantially the following: 

   (i)      that the Exchange Offer is being made pursuant to this Agreement and
that all Registrable Securities validly tendered and not properly withdrawn will be accepted for exchange; 

  (ii)      the dates of acceptance for exchange (which shall be a period of at least
20 Business Days from the date such notice is mailed) (the “Exchange Dates”); 

 (iii)      that any Registrable Security not tendered will remain outstanding and continue
to accrue interest but will not retain any rights under this Agreement, except as otherwise specified herein; 

 (iv)      that any Holder electing to have a Registrable Security exchanged pursuant to
the Exchange Offer will be required to (A) surrender such Registrable Security, together with the appropriate letters of transmittal, to the institution and at the address and in the manner specified in the notice, or (B) effect such
exchange otherwise in compliance with the applicable procedures of the depositary for such Registrable Security, in each case prior to the close of business on the last Exchange Date; and 

  (v)      that any Holder will be entitled to withdraw its election, not later than
the close of business on the last Exchange Date, by (A) sending to the institution and at the address specified in the notice, a telegram, telex, facsimile transmission or letter setting forth the name of such Holder, the principal amount of
Registrable Securities delivered for exchange and a statement that such Holder is withdrawing its election to have such 

  
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Securities exchanged or (B) effecting such withdrawal in compliance with the applicable procedures of the depositary for the Registrable Securities. 

As a condition to participating in the Exchange Offer, a Holder will be required to represent to the Company and any Guarantor that
(i) any Exchange Securities to be received by it will be acquired in the ordinary course of its business, (ii) at the time of the commencement of the Exchange Offer it has no arrangement or understanding with any Person to participate in
the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (iii) it is not an “affiliate” (within the meaning of Rule 405 promulgated under the
Securities Act) of the Company or any Guarantor (iv) if such holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the distribution of Exchange Securities and (v) if such Holder is a broker-dealer that
will receive Exchange Securities for its own account in exchange for Registrable Securities that were acquired as a result of market-making or other trading activities, then such Holder will deliver a Prospectus (or, to the extent permitted by law,
make available a Prospectus to purchasers) in connection with any resale of such Exchange Securities. 
 As soon as practicable after the
last Exchange Date, the Company and any Guarantor shall: 
 (i)      accept for exchange
Registrable Securities or portions thereof validly tendered and not properly withdrawn pursuant to the Exchange Offer; and 

(ii)     deliver, or cause to be delivered, to the Trustee for cancellation all Registrable
Securities or portions thereof so accepted for exchange by the Company and issue, and cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable
Securities tendered by such Holder. 
 The Company and any Guarantor shall use their commercially reasonable efforts to complete the
Exchange Offer as provided above and shall comply with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer. The Exchange Offer shall not be subject to
any conditions, other than that the Exchange Offer does not violate any applicable law or applicable interpretations of the Staff. 

(b)      In the event that (i) the Company and any Guarantor determine that the Exchange Offer
Registration provided for in Section 2(a) above is not available or may not be completed as soon as reasonably practicable after the last Exchange Date because it would violate any applicable law or applicable interpretations of the Staff,
(ii) the Exchange Offer is not for any other reason completed on or before the 365th day after the Issue Date (or if such 365th day is not a Business Day, the next succeeding Business Day) or (iii) upon receipt of a written request (a
“Shelf Request”) from any Initial Purchaser representing that it holds Registrable Securities that are or were ineligible to be exchanged in the Exchange Offer, the Company and any Guarantor shall use their commercially reasonable
efforts to cause to be filed as soon as practicable after such determination, date or Shelf Request, as the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof and to have such
Shelf Registration Statement become effective. 

  
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 In the event that the Company and any Guarantor are required to file a Shelf Registration
Statement pursuant to clause (iii) of the preceding sentence, the Company and any Guarantor shall use their reasonable best efforts to file and have become effective both an Exchange Offer Registration Statement pursuant to Section 2(a)
with respect to all Registrable Securities and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange Offer Registration Statement) with respect to offers and sales of Registrable Securities held by the
Initial Purchasers after completion of the Exchange Offer. 
 The Company and any Guarantor agree to use their commercially reasonable
efforts to keep the Shelf Registration Statement continuously effective until the second anniversary of the Issue Date or such shorter period that will terminate when all the Registrable Securities covered by the Shelf Registration Statement have
been sold pursuant to the Shelf Registration Statement (the “Shelf Effectiveness Period”). The Company and any Guarantor further agree to supplement or amend the Shelf Registration Statement and the related Prospectus if required by
the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules and regulations thereunder or if reasonably requested by a Holder of
Registrable Securities with respect to information relating to such Holder, and to use their commercially reasonable efforts to cause any such amendment to become effective, if required, and such Shelf Registration Statement and Prospectus to become
usable as soon as thereafter practicable. Upon the written request of Holders of Registrable Securities, the Company and any Guarantor agree to furnish to such Holders copies of any such supplement or amendment promptly after its being used or filed
with the SEC. 
 (c)      The Company and any Guarantor shall pay all Registration Expenses in connection
with any registration pursuant to Section 2(a) or Section 2(b) hereof. Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of such
Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
 (d)      An Exchange
Offer Registration Statement pursuant to Section 2(a) hereof will not be deemed to have become effective unless it has been declared effective by the SEC. A Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to
have become effective unless it has been declared effective by the SEC or is automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act. 

In the event that either the Exchange Offer is not completed or the Shelf Registration Statement, if required pursuant to
Section 2(b)(i) or 2(b)(ii) hereof, has not become effective on or prior to the 365th day after the Issue Date (the “Target Registration Date”), the interest rate on the Registrable Securities will be increased by
(i) 0.25% per annum for the first 90-day period immediately following the Target Registration Date and (ii) an additional 0.25% per annum for each subsequent 90-day period that elapses, in each case until the Exchange Offer is
completed or the Shelf Registration Statement, if required hereby, becomes effective, up to a maximum increase of 1.00% per annum. Following the completion of the Exchange Offer or upon the effectiveness of such Shelf Registration Statement
with respect to any particular Registrable Securities, the interest rate borne by the relevant Registrable Securities will be reduced to the original interest rate borne by such Registrable Securities; provided, however, that, if after any
such reduction in interest rate, a different event occurs that would give rise to 

  
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such an increase, the interest rate borne by the relevant Registrable Securities shall again be increased pursuant to the foregoing provisions. 

In the event that the Company receives a Shelf Request pursuant to Section 2(b)(iii), and the Shelf Registration Statement required to
be filed thereby has not become effective by the later of the Target Registration Date and (y) 90 days after delivery of such Shelf Request (such later date, the “Shelf Additional Interest Date”), then the interest rate on the
Registrable Securities will be increased by (i) 0.25% per annum for the first 90-day period payable commencing from one day after the Shelf Additional Interest Date and (ii) an additional 0.25% per annum for each subsequent
90-day period that elapses, in each case until the Shelf Registration Statement becomes effective, up to a maximum increase of 1.00% per annum. 

If the Shelf Registration Statement, if required hereby, has become effective and thereafter either ceases to be effective or the Prospectus
contained therein ceases to be usable, in each case whether or not permitted by this Agreement, at any time during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 60 days (whether or not
consecutive), then the interest rate on the Registrable Securities will be increased by (i) 0.25% per annum for the first 90-day period commencing on the 61st day after such Shelf Registration Statement cease to be effective or the
Prospectus ceases to be useable and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, up to a maximum increase of 1.00% per annum, in each case until and ending on such date that the Shelf Registration
Statement has again become effective or the Prospectus again becomes usable. 
 (e)      Without limiting the
remedies available to the Initial Purchasers and the Holders, the Company and any Guarantor acknowledge that any failure by the Company or any Guarantor to comply with their obligations under Section 2(a) and Section 2(b) hereof may result
in material irreparable injury to the Initial Purchasers or the Holders for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial
Purchasers or any Holder may obtain such relief as may be required to specifically enforce the Company’s and any Guarantor’s obligations under Section 2(a) and Section 2(b) hereof. 

(f)      The Company represents, warrants and covenants that it (including its agents and representatives) will
not prepare, make, use, authorize, approve or refer to any Free Writing Prospectus. 

3.       Registration Procedures. 

(a)      In connection with their obligations pursuant to Section 2(a) and Section 2(b) hereof, the
Company and any Guarantor shall as expeditiously as possible: 
 (i)      prepare and file
with the SEC a Registration Statement on the appropriate form under the Securities Act, which form (x) shall be selected by the Company and any Guarantor (y) shall, in the case of a Shelf Registration, be available for the sale of the
Registrable Securities by the Holders thereof and (z) shall comply as to form in all material respects with the requirements of the applicable form and include all financial statements required by the SEC to be filed therewith; and use their
commercially 

  
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reasonable efforts to cause such Registration Statement to become effective and remain effective for the applicable period in accordance with Section 2 hereof; 

 (ii)       prepare and file with the SEC such amendments and post-effective
amendments to each Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus
supplement and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to
transactions by brokers or dealers with respect to the Registrable Securities or Exchange Securities; 

(iii)       in the case of a Shelf Registration, furnish to each Holder of Registrable
Securities, to counsel for the Initial Purchasers, to counsel for such Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge, as many copies of each Prospectus or preliminary prospectus, and
any amendment or supplement thereto, as such Holder, counsel or Underwriter may reasonably request in order to facilitate the sale or other disposition of the Registrable Securities thereunder; and the Company and any Guarantor consent to the use of
such Prospectus, preliminary prospectus and any amendment or supplement thereto in accordance with applicable law by each of the Holders of Registrable Securities and any such Underwriters in connection with the offering and sale of the Registrable
Securities covered by and in the manner described in such Prospectus, preliminary prospectus or any amendment or supplement thereto in accordance with applicable law; 

(iv)       use their commercially reasonable efforts to register or qualify the Registrable
Securities under all applicable state securities or blue sky laws of such jurisdictions as any Holder of Registrable Securities covered by a Registration Statement shall reasonably request in writing by the time the applicable Registration Statement
becomes effective; cooperate with such Holders in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc.; and do any and all other acts and things that may be reasonably necessary or advisable to
enable each Holder to complete the disposition in each such jurisdiction of the Registrable Securities owned by such Holder; provided that neither the Company nor any Guarantor shall be required to (1) qualify as a foreign corporation or
other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (2) file any general consent to service of process in any such jurisdiction or (3) subject itself to taxation in any
such jurisdiction if it is not so subject; 
  (v)       notify counsel for the
Initial Purchasers and, in the case of a Shelf Registration, notify each Holder of Registrable Securities and counsel for such Holders promptly and, if requested by any such Holder or counsel, confirm such advice in writing (1) when a
Registration Statement has become effective, when any post-effective amendment thereto has been filed and becomes effective and when any amendment or supplement to the Prospectus has been filed, (2) of any request by the SEC or any state
securities authority for amendments and supplements to a Registration Statement or Prospectus or for additional information after the Registration Statement has become effective, (3) of the issuance by the SEC or any state securities authority
of any stop order 

  
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suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, including the receipt by the Company of any notice of objection of the SEC to the
use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, (4) if, between the applicable effective date of a Shelf Registration Statement and the closing of any sale of
Registrable Securities covered thereby, the representations and warranties of the Company or any Guarantor contained in any underwriting agreement, securities sales agreement or other similar agreement, if any, relating to an offering of such
Registrable Securities cease to be true and correct in all material respects or if the Company or any Guarantor receives any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction
or the initiation of any proceeding for such purpose, (5) of the happening of any event during the period a Registration Statement is effective that makes any statement made in such Registration Statement or the related Prospectus untrue in any
material respect or that requires the making of any changes in such Registration Statement or Prospectus in order to make the statements therein not misleading and (6) of any determination by the Company or any Guarantor that a post-effective
amendment to a Registration Statement or any amendment or supplement to the Prospectus would be appropriate; 

  (vi)      use their commercially reasonable efforts to obtain the withdrawal of any
order suspending the effectiveness of a Registration Statement or, in the case of a Shelf Registration, the resolution of any objection of the SEC pursuant to Rule 401(g)(2), including by filing an amendment to such Shelf Registration Statement on
the proper form, at the earliest practicable date and provide prompt notice to each Holder of the withdrawal of any such order or such resolution; 

 (vii)      in the case of a Shelf Registration, upon the written request of Holders of
Registrable Securities, furnish to such Holders, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless
requested); 
 (viii)      in the case of a Shelf Registration, unless any Registrable
Securities shall be in book-entry only form, cooperate with the Holders of Registrable Securities to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive
legends and enable such Registrable Securities to be issued in such denominations and registered in such names (consistent with the provisions of the Indenture) as such Holders may reasonably request at least two Business Days prior to the closing
of any sale of Registrable Securities; 
   (ix)      in the case of a Shelf
Registration, upon the occurrence of any event contemplated by Section 3(a)(v)(5) hereof, use their commercially reasonable efforts to prepare and file with the SEC a supplement or post-effective amendment to such Shelf Registration Statement
or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities, such
Prospectus will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the Company and any
Guarantor shall 

  
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notify the Holders of Registrable Securities to suspend use of the Prospectus as promptly as practicable after the occurrence of such an event, and such Holders hereby agree to suspend use of the
Prospectus until the Company and any Guarantor have amended or supplemented the Prospectus to correct such misstatement or omission; 

    (x)      a reasonable time prior to the filing of any Registration
Statement, any Prospectus, any amendment to a Registration Statement or amendment or supplement to a Prospectus after initial filing of a Registration Statement, provide copies of such document to the Initial Purchasers and their counsel (and, in
the case of a Shelf Registration Statement, to the Holders of Registrable Securities and their counsel) and make such of the representatives of the Company and any Guarantor as shall be reasonably requested by the Initial Purchasers or their counsel
(and, in the case of a Shelf Registration Statement, the Holders of Registrable Securities or their counsel) available for discussion of such document; and the Company and any Guarantor shall not, at any time after initial filing of a Registration
Statement, use or file any Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus, of which the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Holders of Registrable
Securities and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Holders of Registrable Securities or their
counsel) shall object; provided that the immediately foregoing sentence shall not prohibit the Company from making any filing that is, in the opinion of counsel to the Company, necessary to comply with applicable law; 

  (xi)      obtain a CUSIP number for all Exchange Securities or Registrable
Securities, as the case may be, not later than the initial effective date of a Registration Statement; 

 (xii)      cause the Indenture to be qualified under the Trust Indenture Act in connection
with the registration of the Exchange Securities or Registrable Securities, as the case may be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be required for the Indenture to be so qualified in accordance
with the terms of the Trust Indenture Act; and execute, and use their commercially reasonable efforts to cause the Trustee to execute, all documents as may be required to effect such changes and all other forms and documents required to be filed
with the SEC to enable the Indenture to be so qualified in a timely manner; 
 (xiii)      in
the case of a Shelf Registration, make available for inspection by a representative of the Holders of the Registrable Securities (an “Inspector”), any Underwriter participating in any disposition pursuant to such Shelf Registration
Statement, any attorneys and accountants designated by a majority of the Holders of Registrable Securities to be included in such Shelf Registration and any attorneys and accountants designated by such Underwriter, at reasonable times and in a
reasonable manner, all pertinent financial and other records, documents and properties of the Company and its subsidiaries, and cause the respective officers, directors and employees of the Company and any Guarantor to supply all information
reasonably requested by any such Inspector, Underwriter, attorney or accountant in connection with a Shelf Registration Statement; provided that if any such information is identified by the 

  
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Company or any Guarantor as being confidential or proprietary, each Person shall be entitled to receive such information only after entering into a non-disclosure agreement in a form acceptable
to the Company; 
 (xiv)      if reasonably requested by any Holder of Registrable Securities
covered by a Shelf Registration Statement, promptly include in a Prospectus supplement or post-effective amendment such information with respect to such Holder as such Holder reasonably requests to be included therein and make all required filings
of such Prospectus supplement or such post-effective amendment promptly after the Company has received notification of the matters to be so included in such filing, and in any event within 30 days of the Company’s receipt of such
notification;  
  (xv)      in the case of a Shelf Registration, enter into such
customary agreements and take all such other reasonable actions in connection therewith (including those reasonably requested by the Holders of a majority in principal amount of the Registrable Securities covered by the Shelf Registration Statement)
in order to expedite or facilitate the disposition of such Registrable Securities including, but not limited to, an Underwritten Offering and in such connection, (1) to the extent possible, make such representations and warranties to the
Holders and any Underwriters of such Registrable Securities with respect to the business of the Company and its subsidiaries and the Registration Statement, Prospectus and documents incorporated by reference or deemed incorporated by reference, if
any, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same if and when requested, (2) use commercially reasonable efforts to obtain opinions of counsel to
the Company and any Guarantor (which counsel and opinions, in form, scope and substance, shall be reasonably satisfactory to the Holders and such Underwriters and their respective counsel), addressed to each selling Holder and Underwriter of
Registrable Securities, covering the matters customarily covered in opinions requested in underwritten offerings, (3) use commercially reasonable efforts to obtain “comfort” letters from the independent certified public accountants of
the Company and any Guarantor (and, if necessary, any other certified public accountant of any subsidiary of the Company or any Guarantor, or of any business acquired by the Company or any Guarantor for which financial statements and financial data
are or are required to be included in the Registration Statement) addressed to each selling Holder (to the extent permitted by applicable professional standards) and Underwriter of Registrable Securities, such letters to be in customary form and
covering matters of the type customarily covered in “comfort” letters in connection with underwritten offerings, including but not limited to financial information contained in any preliminary prospectus or Prospectus and (4) deliver
such documents and certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in underwritten offerings, to evidence
the continued validity of the representations and warranties of the Company and any Guarantor made pursuant to clause (1) above and to evidence compliance with any customary conditions contained in an underwriting agreement; and 

(xvi)      so long as any Registrable Securities remain outstanding, cause each Guarantor to
execute a counterpart to this Agreement in the form attached hereto as 

  
 12 

 
Annex A and to deliver such counterpart to the Initial Purchasers no later than five Business Days following the execution thereof. 

(b)      In the case of a Shelf Registration Statement, the Company may require each Holder of Registrable
Securities to furnish to the Company such information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company and any Guarantor may from time to time reasonably request in writing. 

(c)      In the case of a Shelf Registration Statement, each Holder of Registrable Securities covered in such
Shelf Registration Statement agrees that, upon receipt of any notice from the Company and any Guarantor of the happening of any event of the kind described in Section 3(a)(v)(3) or 3(a)(v)(5) hereof, such Holder will forthwith discontinue
disposition of Registrable Securities pursuant to the Shelf Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(a)(ix) hereof and, if so directed by the
Company and any Guarantor such Holder will deliver to the Company and any Guarantor all copies in its possession, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities that is
current at the time of receipt of such notice. 
 (d)      If the Company and any Guarantor shall give any
notice to suspend the disposition of Registrable Securities pursuant to a Registration Statement, the Company and any Guarantor shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement
by the number of days during the period from and including the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have received copies of the supplemented or amended Prospectus necessary
to resume such dispositions. Such suspensions shall not exceed 45 days in any three-month period or 90 days in any twelve-month period. 

(e)      The Holders of Registrable Securities covered by a Shelf Registration Statement who desire to do so
may sell such Registrable Securities in an Underwritten Offering. In any such Underwritten Offering, the investment bank or investment banks and manager or managers (each an “Underwriter”) that will administer the offering will be
selected by the Holders of a majority in principal amount of the Registrable Securities included in such offering. 

4.       Participation of Broker-Dealers in Exchange Offer. 

(a)      The Staff has taken the position that any broker-dealer that receives Exchange Securities for its own
account in the Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of market-making or other trading activities (a “Participating Broker-Dealer”) may be deemed to be an
“underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such Exchange Securities. 

The Company and any Guarantor understand that it is the Staff’s position that if the Prospectus contained in the Exchange Offer
Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Securities, without naming the Participating Broker-Dealers or specifying
the amount of Exchange Securities owned by them, such Prospectus may 

  
 13 

 
be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made available to purchasers) to satisfy their prospectus delivery obligation under the Securities Act in
connection with resales of Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 

(b)      In light of the above, and notwithstanding the other provisions of this Agreement, the Company and any
Guarantor agree to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for a period of up to 180 days after the last Exchange Date (as such period may be extended pursuant to Section 3(d) of this
Agreement), in order to expedite or facilitate the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) above. The Company and any Guarantor further agree that
Participating Broker-Dealers shall be authorized to deliver such Prospectus (or, to the extent permitted by law, make available) during such period in connection with the resales contemplated by this Section 4. 

(c)      The Initial Purchasers shall have no liability to the Company, any Guarantor or any Holder with
respect to any request that they may make pursuant to Section 4(b) above. 

5.       Indemnification and Contribution. 

(a)      The Company and any Guarantor, jointly and severally, agree to indemnify and hold harmless each
Initial Purchaser and each Holder, their respective affiliates, directors and officers and each Person, if any, who controls any Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and
expenses are incurred promptly following receipt of a request therefor), joint or several, that arise out of, or are based upon, (1) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or
any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, or (2) any untrue statement or alleged untrue statement of a material fact
contained in any Prospectus, any Free Writing Prospectus used in violation of this Agreement or any “issuer information” (“Issuer Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities
Act, or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses,
claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Initial Purchaser or information
relating to any Holder furnished to the Company in writing through J.P. Morgan or any selling Holder, respectively expressly for use therein. In connection with any Underwritten Offering permitted by Section 3, the Company and any Guarantor,
jointly and severally, will also indemnify the Underwriters, if any, selling brokers, dealers and similar securities industry professionals participating in the distribution, their respective affiliates and each Person who controls such Persons
(within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders, if requested in connection with any Registration Statement, any Prospectus, any Free Writing
Prospectus or any Issuer Information. 

  
 14 

 (b)      Each Holder agrees, severally and not jointly, to
indemnify and hold harmless the Company, any Guarantor the Initial Purchasers and the other selling Holders, the directors of the Company and any Guarantor, each officer of the Company and any Guarantor who signed the Registration Statement and each
Person, if any, who controls the Company, any Guarantor, any Initial Purchaser and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set
forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in
conformity with any information relating to such Holder furnished to the Company in writing by such Holder expressly for use in any Registration Statement and any Prospectus. 

(c)      If any suit, action, proceeding (including any governmental or regulatory investigation), claim or
demand shall be brought or asserted against any Person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person (the “Indemnified Person”) shall promptly notify the
Person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under this
Section 5 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not
relieve it from any liability that it may have to an Indemnified Person otherwise than under this Section 5. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person
thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that the Indemnifying Person may
designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to
retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the
Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are
different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation
of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in
the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate
firm (x) for any Initial Purchaser, its affiliates, directors and officers and any control Persons of such Initial Purchaser shall be designated in writing by J.P. Morgan, (y) for any Holder, its directors and officers and any control
Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other cases shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected
without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying 

  
 15 

 
Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an
Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding
effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in
accordance with such request prior to the date of such settlement. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified
Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional release of such Indemnified Person, in form and substance reasonably
satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any
Indemnified Person. 
 (d)      To the extent the indemnification provided for in paragraphs (a) and
(b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person
thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company
and any Guarantor from the offering of the Securities and the Exchange Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii) if the
allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and any Guarantor on
the one hand and the Holders on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and any
Guarantor on the one hand and the Holders on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to
information supplied by the Company and any Guarantor or by the Holders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

(e)      The Company, any Guarantor and the Holders agree that it would not be just and equitable if
contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable
considerations referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses reasonably incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to
contribute any amount in excess of the amount by which the total price at which the Securities or Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue
or alleged untrue statement or 

  
 16 

 
omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 5 are several and not joint. 

(f)      The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or
remedies that may otherwise be available to any Indemnified Person at law or in equity. 
 (g)      The
indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial
Purchasers or any Holder or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or any Guarantor or the officers or directors of or any Person controlling the Company or any Guarantor, (iii) acceptance
of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration Statement. 

6        General. 

(a)      No Inconsistent Agreements.  The Company and any Guarantor represent, warrant and
agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of any other outstanding securities issued or guaranteed by the Company or any Guarantor
under any other agreement and (ii) neither the Company nor any Guarantor has entered into, or on or after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable
Securities in this Agreement or otherwise conflicts with the provisions hereof. 
 (b)      Amendments and
Waivers.  The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company
and any Guarantor have obtained the written consent of Holders of at least a majority in aggregate principal amount of the outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or consent; provided
that no amendment, modification, supplement, waiver or consent to any departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder.
Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Registrable Securities are being tendered pursuant to the Exchange Offer, and
that does not affect directly or indirectly the rights of other Holders whose Registrable Securities are not being tendered pursuant to such Exchange Offer, may be given by the Holders of a majority of the outstanding principal amount of Registrable
Securities subject to such Exchange Offer. Any amendments, modifications, supplements, waivers or consents pursuant to this Section 6(b) shall be by a writing executed by each of the parties hereto. 

(c)      Notices. All notices and other communications provided for or permitted hereunder shall be made
in writing by hand-delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address 

  
 17 

 
given by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(c), which address initially is, with respect to the Initial Purchasers, the
address set forth in the Purchase Agreement; (ii) if to the Company and any Guarantor, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with
the provisions of this Section 6(c); and (iii) to such other persons at their respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of
this Section 6(c). All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when
answered back, if telexed; when receipt is acknowledged, if telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of all such notices, demands or other communications shall be
concurrently delivered by the Person giving the same to the Trustee, at the address specified in the Indenture. 

(d)      Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the
successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall be deemed to permit any assignment, transfer or
other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities in any manner, whether by operation of law or otherwise, such
Registrable Securities shall be held subject to all the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and
provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company or any Guarantor with respect to any
failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. 

(e)      Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the agreements
made hereunder between the Company and any Guarantor, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to
protect its rights or the rights of other Holders hereunder. 
 (f)      Counterparts. This Agreement
may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(g)      Headings. The headings in this Agreement are for convenience of reference only, are not a part
of this Agreement and shall not limit or otherwise affect the meaning hereof. 
 (h)      Governing
Law. This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, shall be governed by and construed in accordance with the laws of the State of New York without regard to conflict of law principles that
would result in the application of any laws other than the laws of the State of New York. 

  
 18 

 (j)      Entire Agreement; Severability. This Agreement
contains the entire agreement between the parties relating to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto. If any term, provision, covenant or restriction contained in this Agreement is held
by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall in no way be
affected, impaired or invalidated. The Company, any Guarantor and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which becomes as
close as possible to that of the invalid, void or unenforceable provisions. 

  
 19 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

					
	ADVANCED MICRO DEVICES, INC.
			
	By:	 	 /s/ Devinder Kumar
	 	
		 	Name: Devinder Kumar
		 	Title: Senior Vice President and Chief
		 	Financial Officer

  
 [Registration Rights
Agreement] 

 Confirmed and accepted as of the date first above written: 

 

					
	J.P. MORGAN SECURITIES LLC
	
	 For itself and on behalf of the

several Initial Purchasers

		
	By:	 	 /s/ Varun Rastogi

		 	Name:	 	Varun Rastogi
		 	Title:	 	Executive Director

  
 [Registration Rights
Agreement] 

 Schedule 1 

Initial Purchasers 
 J.P. Morgan Securities LLC

 Merrill Lynch, Pierce, Fenner & Smith Incorporated 

Barclays Capital Inc. 
 Morgan Stanley & Co. LLC 

Wells Fargo Securities, LLC 
 Deutsche Bank Securities Inc. 

 Annex A 

Counterpart to Registration Rights Agreement 

The undersigned hereby absolutely, unconditionally and irrevocably agrees as a Guarantor (as defined in the Registration Rights Agreement,
dated as of June 16, 2014 by and among the Company, a Delaware corporation, and J.P. Morgan Securities LLC, on behalf of itself and the other Initial Purchasers) to be bound by the terms and provisions of such Registration Rights Agreement.

 IN WITNESS WHEREOF, the undersigned has executed this counterpart as of [        ],
20[  ]. 
  

					
	[NAME]	 	
			
	By:	 	  
	 	
		 	Name:	 	
		 	Title:EX-4.3

 Exhibit 4.3 

CERTIFICATE OF DESIGNATION 
 OF

 6.00% SERIES B NON-CUMULATIVE PERPETUAL PREFERRED STOCK 

OF 
 COMMERCE BANCSHARES, INC.

 Pursuant to Section 351.180 of the 

General Business and Corporations Law of the State of Missouri 

Commerce Bancshares, Inc., a corporation organized and existing under the General Business and Corporations Law of the State of Missouri (the
“Corporation”), does hereby certify that: 
 The Executive Committee (the “Committee”) of the Board of
Directors of the Corporation (the “Board of Directors”), in accordance with the resolutions of the Committee of the Board of Directors dated June 11, 2014, the Restated Articles of Incorporation of the Corporation, as amended
(the “Articles of Incorporation”), and applicable law, adopted the following resolutions on June 12, 2014, creating a series of 6,000 shares of preferred stock, par value $1.00 per share, of the Corporation designated as
“6.00% Series B Non-Cumulative Perpetual Preferred Stock”: 
 RESOLVED, that a series of preferred stock, par value
$1.00 per share, of the Corporation be, and hereby is, created and designated as the “6.00% Series B Non-Cumulative Perpetual Preferred Stock” (the “Series B Preferred Stock”) and the Committee hereby fixes and determines
the number of shares, and the voting power and the designations, preferences, and relative, participating, optional or other special rights, and the qualifications, limitations and restrictions thereof, of the shares of, such series as follows: 

SECTION 1. Designation. The designation of the series of preferred stock shall be 6.00% Series B Non-Cumulative Perpetual
Preferred Stock (hereinafter referred to as the “Series B Preferred Stock”). Series B Preferred Stock will rank equally with Parity Stock, if any, will rank junior to Senior Stock (to the extent specified in any such Senior Stock),
if any, and will rank senior to Junior Stock with respect to the payment of dividends and the distribution of assets in the event of any liquidation, dissolution or winding up of the Corporation. 

SECTION 2. Number of Shares. The Series B Preferred Stock is a single series of authorized preferred stock consisting of 6,000 shares.
Such number may from time to time be increased (but not in excess of the total number of authorized shares of preferred stock) or decreased (but not below the number of shares of Series B Preferred Stock then outstanding) by further resolution duly
adopted by the Board of Directors or 

 
any duly authorized committee of the Board of Directors and by the filing of a certificate pursuant to the provisions of the General Business and Corporations Law of the State of Missouri stating
that such increase or reduction, as the case may be, has been so authorized; provided that any such additional shares of Series B Preferred Stock are not treated as “disqualified preferred stock” within the meaning of
Section 1059(f)(2) of the Internal Revenue Code of 1986, as amended, and such additional shares of Series B Preferred Stock are otherwise treated as fungible with the Series B Preferred Stock previously issued and then outstanding for U.S.
Federal income tax purposes. Any such additional shares of Series B Preferred Stock shall form a single series with the outstanding Series B Preferred Stock. The Corporation shall have the authority to issue fractional shares of Series B Preferred
Stock. 
 SECTION 3. Definitions. As used herein with respect to Series B Preferred Stock: 

“Appropriate Federal Banking Agency” means the “appropriate Federal banking agency” with respect to the Corporation
as defined in Section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision. 

“Articles of Incorporation” means the Restated Articles of Incorporation of the Corporation, as amended. 

“Business Day” means each Monday, Tuesday, Wednesday, Thursday or Friday on which banking institutions are not authorized or
obligated by law, regulation or executive order to close in New York, New York. 
 “Certificate of Designation” means this
Certificate of Designation relating to the Series B Preferred Stock, as it may be amended from time to time. 

“Corporation” means Commerce Bancshares, Inc. 

“Dividend Payment Date” shall have the meaning set forth in Section 4(a) hereof. 

“Dividend Period” shall have the meaning set forth in Section 4(a) hereof. 

“DTC” means The Depository Trust Company, together with its successors and assigns. 

“Federal Reserve” means the Board of Governors of the Federal Reserve System. 

“Junior Stock” means the Corporation’s common stock and any other class or series of stock of the Corporation hereafter
authorized over which Series B Preferred Stock has preference or priority in the payment of dividends or in the distribution of assets on any liquidation, dissolution or winding up of the Corporation. 

  
 2 

 “Liquidation Preference” means $25,000 per share of Series B Preferred Stock.

 “Nonpayment” shall have the meaning set forth in Section 7(d)(i) hereof. 

“Parity Stock” means any other class or series of stock of the Corporation that ranks equally with the Series B Preferred
Stock in the payment of dividends and the distribution of assets upon any liquidation, dissolution or winding up of the Corporation. 

“Preferred Director” shall have the meaning set forth in Section 7(d)(i) hereof. 

“Preferred Stock” shall have the meaning set forth in the Articles of Incorporation. 

“Redemption Price” shall have the meaning set forth in Section 6(a) hereof. 

“Regulatory Capital Treatment Event” means the Corporation’s determination, in good faith that, as a result of any
(i) amendment to, or change in, the laws or regulations of the United States or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of Series B Preferred Stock,
(ii) proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of Series B Preferred Stock, or (iii) official administrative decision or judicial decision or administrative
action or other official pronouncement interpreting or applying those laws or regulations that is announced after the initial issuance of any share of Series B Preferred Stock, there is more than an insubstantial risk that the Corporation will not
be entitled to treat the full liquidation value of all shares of Series B Preferred Stock then outstanding as “Tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines or regulations of the Federal Reserve
Regulation Y (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency), as then in effect and applicable, for as long as any share of Series B Preferred Stock is outstanding. 

“Senior Stock” means any other class or series of stock of the Corporation that ranks senior to the Series B Preferred Stock
with respect to payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the Corporation. 

“Series B Preferred Stock” shall have the meaning set forth in Section 1 hereof. 

SECTION 4. Dividends. (a) Rate. Holders of Series B Preferred Stock shall be entitled to receive, if, when and as declared
by the Board of Directors or any duly authorized committee of the Board of Directors out of legally available assets, non-cumulative cash dividends on the Liquidation Preference. These dividends will be payable quarterly in arrears on
March 1, June 1, September 1 and December 1 of each year, commencing on September 1, 2014 (each such date being referred to herein as a 

  
 3 

 
“Dividend Payment Date”). Dividends on each share of Series B Preferred Stock will accrue on the Liquidation Preference at a rate per annum equal to 6.00%. Notwithstanding the
foregoing, dividends on the Series B Preferred Stock shall not be declared, paid or set aside for payment to the extent such act would cause the Corporation to fail to comply with laws and regulations applicable thereto, including applicable capital
adequacy guidelines. Dividends will be payable to holders of record of Series B Preferred Stock as they appear on the Corporation’s books on the applicable record date, which shall be the 16th calendar day before the applicable Dividend Payment
Date, or such other record date, not exceeding 30 days before the applicable Dividend Payment Date, as shall be fixed by the Board of Directors or any duly authorized committee of the Board of Directors. A “Dividend Period” is the
period from and including a Dividend Payment Date to but excluding the next Dividend Payment Date, except that the initial Dividend Period will commence on and include the original issue date of the Series B Preferred Stock. Dividends will be
calculated on the basis of a 360-day year consisting of twelve 30-day months. If any date on which dividends would otherwise be payable is not a Business Day, then the Dividend Payment Date will be the next succeeding Business Day and no additional
dividends or other amounts will be paid in respect of any payment made on the next succeeding Business Day. 
 (b) Non-Cumulative
Dividends. Dividends on shares of Series B Preferred Stock shall not be cumulative. Accordingly, if the Board of Directors or a duly authorized committee of the Board of Directors does not declare a dividend on the Series B Preferred Stock
payable in respect of any Dividend Period before the related Dividend Payment Date, such dividend will not be deemed to have accrued and the Corporation shall have no obligation to pay a dividend for that Dividend Period on the Dividend Payment Date
or at any future time, whether or not dividends on the Series B Preferred Stock, any Parity Stock, any Junior Stock or any other class or series of authorized Preferred Stock of the Corporation are declared for any future dividend period. 

(c) Priority of Dividends. So long as any share of Series B Preferred Stock remains outstanding, (i) no dividend shall be declared
or paid or set aside for payment and no distribution shall be declared or made or set aside for payment on any Junior Stock, other than a dividend payable solely in Junior Stock, (ii) no shares of Junior Stock shall be repurchased, redeemed or
otherwise acquired for consideration by the Corporation, directly or indirectly (other than as a result of a reclassification of Junior Stock for or into other Junior Stock, or the exchange or conversion of one share of Junior Stock for or into
another share of Junior Stock, and other than through the use of the proceeds of a substantially contemporaneous sale of other shares of Junior Stock), nor shall any monies be paid to or made available for a sinking fund for the redemption of any
such securities by the Corporation and (iii) no shares of Parity Stock shall be repurchased, redeemed or otherwise acquired for consideration by the Corporation otherwise than pursuant to pro rata offers to purchase all, or a pro rata portion,
of the Series B Preferred Stock and such Parity Stock except by conversion into or exchange for Junior Stock, during any Dividend Period, unless, in the case of each of clauses (i), (ii) and (iii) above, the full dividends for the most
recently completed Dividend Period on all outstanding shares of Series B Preferred Stock have been declared and paid or declared and a sum sufficient for the payment thereof has been set aside. When dividends are not

  
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paid in full upon the shares of Series B Preferred Stock and any outstanding Preferred Stock, all dividends declared upon shares of Series B Preferred Stock and any outstanding Preferred Stock
shall be declared on a pro rata basis so that the amount of dividends declared per share shall bear to each other the same ratio that accrued dividends per share on Series B Preferred Stock, and accrued dividends per share on the other outstanding
Preferred Stock, bear to each other. No interest will be payable in respect of any dividend payment on shares of Series B Preferred Stock that may be in arrears. Subject to the foregoing, and not otherwise, such dividends (payable in cash, stock or
otherwise) as may be determined by the Board of Directors or any duly authorized committee of the Board of Directors, may be declared and paid on any Parity Stock or Junior Stock from time to time out of any assets legally available for such
payment, and the holders of Series B Preferred Stock shall not be entitled to participate in any such dividend. 
 SECTION 5. Liquidation
Rights. (a) Liquidation. Upon any liquidation, dissolution or winding up of the Corporation, holders of the Series B Preferred Stock shall be entitled to receive out of assets of the Corporation legally available for distribution to
stockholders, after satisfaction of liabilities to the Corporation’s creditors, and subject to the rights of holders of any Senior Stock, before any distribution of assets is made to holders of Junior Stock, a liquidating distribution in the
amount of the Liquidation Preference per share plus declared and unpaid dividends, without accumulation of any undeclared dividends, to the date of liquidation. Holders of Series B Preferred Stock shall not be entitled to any further payments in the
event of any such liquidation, dissolution or winding up of the affairs of the Corporation other than what is expressly provided for in this Section 5. 

(b) Partial Payment. In any such distribution, if the assets of the Corporation are not sufficient to pay the Liquidation Preference
plus declared and unpaid dividends in full to all holders of the Series B Preferred Stock and all holders of any shares of outstanding Preferred Stock, the amounts paid to the holders of Series B Preferred Stock and to the holders of all outstanding
Preferred Stock shall be paid pro rata in accordance with the respective aggregate liquidating distribution owed to those holders. 
 (c)
Residual Distributions. If the Liquidation Preference plus declared and unpaid dividends has been paid in full to all holders of Series B Preferred Stock and any other shares of Parity Stock, the holders of Junior Stock shall be entitled to
receive all remaining assets of the Corporation according to their respective rights and preferences. 
 (d) Merger, Consolidation and
Sale of Assets Not Liquidation. For purposes of this Section 5, the merger or consolidation of the Corporation with any other entity, including a merger or consolidation in which the holders of Series B Preferred Stock receive cash,
securities or other property for their shares, or the sale, lease or transfer of all or substantially all of the assets of the Corporation for cash, securities or other property, shall not constitute a liquidation, dissolution or winding up of the
Corporation. 

  
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 SECTION 6. Redemption. (a) Optional Redemption. The Series B Preferred Stock
is not subject to any mandatory redemption, sinking fund or other similar provision. The Series B Preferred Stock is not redeemable prior to September 1, 2019. On that date, and on any Dividend Payment Date thereafter, the Series B Preferred
Stock will be redeemable at the Corporation’s option, in whole or in part, upon notice given as provided in Section 6(b) below, at a redemption price equal to $25,000 per share (the “Redemption Price”), plus any declared
and unpaid dividends, without accumulation of any undeclared dividends. Holders of Series B Preferred Stock will have no right to require the redemption or repurchase of the Series B Preferred Stock. Notwithstanding the foregoing, within 90 days of
a Regulatory Capital Treatment Event, the Corporation, at its option, subject to the approval of the Appropriate Federal Banking Agency, may provide notice of its intent to redeem as provided in Section 6(b) below and subsequently redeem, all
(but not less than all) of the shares of Series B Preferred Stock at the time outstanding at the Redemption Price plus any declared and unpaid dividends and an amount equal to the unpaid portion of the dividend (whether or not declared) for the then
current Dividend Period). 
 (b) Notice of Redemption. If shares of the Series B Preferred Stock are to be redeemed, the notice of
redemption shall be given to the holders of record of the Series B Preferred Stock to be redeemed, either by first class mail, postage prepaid, addressed to the holders of record of such shares to be redeemed at their respective last addresses
appearing on the Corporation’s stock register or by such other method approved by the depositary, in its reasonable discretion, not less than 30 days nor more than 60 days prior to the date fixed for redemption thereof; provided,
that, if the Series B Preferred Stock are represented by depositary shares held in book-entry form through DTC, the Corporation may give such notice in any manner permitted by DTC. Any notice mailed or transmitted as provided in this
Section 6(b) shall be conclusively presumed to have been duly given, whether or not the holder receives such notice, but failure duly to give such notice by mail or other transmission, or any defect in such notice or in the mailing or
transmittal thereof, to any holder of shares of Series B Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series B Preferred Stock. Each notice of redemption shall
include a statement setting forth: (i) the redemption date; (ii) the number of shares of Series B Preferred Stock to be redeemed and, if less than all the shares held by such holder are to be redeemed, the number of such shares to be
redeemed from such holder; (iii) the Redemption Price and the amount of any unpaid dividends and other amounts to be paid upon redemption; (iv) the place or places where the certificates evidencing such shares are to be surrendered for
payment of the Redemption Price; and (v) that dividends on the shares to be redeemed will cease on the redemption date subject to necessary funds being set aside. 

(c) Partial Redemption. In case of any redemption of only part of the shares of Series B Preferred Stock at the time outstanding, the
shares of Series B Preferred Stock to be redeemed shall be selected either pro rata from the holders of record of Series B Preferred Stock in proportion to the number of Series B Preferred Stock held by such holders or by lot or in such other manner
as the Corporation may determine to be fair and equitable or as may be required by the principal national stock exchange on which the Series B Preferred Stock is listed. 

  
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 (d) Effectiveness of Redemption. If notice of redemption of any shares of Series B
Preferred Stock has been duly given and if the funds necessary for such redemption have been set aside by the Corporation for the benefit of the holders of the shares of the Series B Preferred Stock called for redemption, then on and after the
redemption date, such shares of Series B Preferred Stock shall no longer be deemed outstanding and all rights of the holders of such shares shall terminate, except the right of the holders thereof to receive the Redemption Price and any unpaid
dividends and other amounts payable upon redemption. The Corporation shall be entitled to receive, from time to time, from the bank or trust company selected by the Board of Directors or any duly authorized committee of the Board of Directors to
hold funds necessary for the redemption of any shares of Series B Preferred Stock in trust for the benefit of the holders of the shares called for redemption any interest accrued on such funds, and the holders of any shares called for redemption
shall have no claim to any such interest. Any funds so deposited and unclaimed at the end of four years from the redemption date shall, to the extent permitted by law, be released or repaid to the Corporation, and in the event of such repayment to
the Corporation, the holders of record of the shares so called for redemption shall be deemed to be unsecured creditors of the Corporation for a period of two years for an amount equivalent to the amount deposited as stated above for the redemption
of such shares and so repaid to the Corporation, but shall in no event be entitled to any interest. After such two-year period, the rights of such holders as unsecured creditors or otherwise shall cease. 

SECTION 7. Voting Rights. Except as provided below and otherwise provided by law, the holders of the Series B Preferred Stock will have
no voting rights. 
 (a) Supermajority Voting Rights—Amendments. The affirmative vote or consent of the holders of at least
66-2/3% of all of the shares of the Series B Preferred Stock at the time outstanding, voting separately as a class, shall be required to amend the provisions of the Articles of Incorporation or this Certificate of Designation or any other
certificate amendatory thereof or supplemental thereto (including any certificate of designation or any similar document relating to any series of Preferred Stock) so as to materially and adversely affect the powers, preferences, privileges or
rights of the Series B Preferred Stock, taken as a whole; provided, however, that any increase in the amount of the authorized or issued Series B Preferred Stock or authorized common or Preferred Stock of the Corporation or the
creation and issuance, or an increase in the authorized or issued amount, of other series of Parity Stock or Junior Stock will not be deemed to adversely affect the powers, preferences, privileges or rights of the Series B Preferred Stock. 

(b) Supermajority Voting Rights—Priority. The affirmative vote or consent of the holders of at least 66-2/3% of all of the shares
of the Series B Preferred Stock, at the time outstanding, voting separately as a class, shall be required to issue, authorize or increase the authorized amount of, or to issue or authorize any obligation or security convertible into or evidencing
the right to purchase, any class or series of Senior Stock. 

  
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 (c) Supermajority Voting Rights—Consolidation or Merger. The affirmative vote or
consent of the holders of at least 66-2/3% of all of the shares of the Series B Preferred Stock at the time outstanding, voting separately as a class, shall be required for the Corporation to consolidate with or merge into any other entity or sell,
lease or transfer all or substantially all of the assets of the Corporation unless the shares of Series B Preferred Stock outstanding at the time of such transaction are converted into or exchanged for preferred securities having such rights,
privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers of the Series B Preferred Stock, taken as a whole. 

(d) Special Voting Right. (i) Voting Right. Whenever dividends on any shares of Series B Preferred Stock or any other class
or series of Parity Stock upon which similar voting rights have been conferred and are exercisable, shall have not been declared and paid for an amount equal to six or more dividend payments, whether or not for consecutive Dividend Periods (a
“Nonpayment”), the holders of the Series B Preferred Stock (together with holders of any and all other classes of Parity Stock upon which similar voting rights have been conferred and are exercisable) shall be entitled to vote as a
single class for the election of a total of two additional members of the Board of Directors; provided, that, the Board of Directors shall at no time include more than two such directors. In that event, the number of directors on the
Board of Directors shall automatically increase by two. Each such director elected by the holders of shares of Series B Preferred Stock and any other class or series of Parity Stock upon which similar voting rights have been conferred and are
exercisable, is a “Preferred Director”. 
 (ii) Election. The election of the Preferred Directors will take place at
any annual meeting of stockholders or any special meeting of the holders of Series B Preferred Stock and any other class or series of Parity Stock upon which similar voting rights have been conferred and are exercisable, called as provided herein.
At any time after the special voting power has vested pursuant to Section 7(d)(i) above, the chairman of the Corporation may, and upon the written request of any holder of Series B Preferred Stock (addressed to the secretary at the
Corporation’s principal office) must (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders, in which event such election shall be held at such next annual or special
meeting of stockholders), call a special meeting of the holders of Series B Preferred Stock, and any such other class or series of Parity Stock upon which similar voting rights have been conferred and are exercisable, for the election of the two
directors to be elected by them as provided in Section 7(d)(iii) below. 
 (iii) Notice for Special Meeting. Notice for a special
meeting will be given in a similar manner to that provided in the Corporation’s By-laws for a special meeting of the stockholders. If the chairman of the Corporation does not call a special meeting within 20 days after receipt of any such
request, then any holder of Series B Preferred Stock may (at the Corporation’s expense) call such meeting, upon notice as 

  
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provided in this Section 7(d)(iii), and for that purpose will have access to the stock register of the Corporation. The Preferred Directors elected at any such special meeting will hold
office until the next annual meeting of the Corporation’s stockholders unless they have been previously terminated or removed pursuant to Section 7(d)(iv). So long as Nonpayment shall continue, any vacancy in the office of a Preferred
Director (other than prior to the initial election of the Preferred Directors), may be filled by the written consent of the Preferred Director remaining in office, or if none remains in office, by a vote of the holders of the outstanding shares of
Series B Preferred Stock (together with holders of any and all other classes of the Corporation’s Parity Stock upon which similar voting rights have been conferred and are exercisable) to serve until the next annual meeting of the stockholders.

 (iv) Termination; Removal. If and when full dividends have been regularly paid for at least four consecutive Dividend Periods
following a Nonpayment on the Series B Preferred Stock and any other class or series of Parity Stock upon which similar voting rights have been conferred and are exercisable, the holders of the Series B Preferred Stock shall be divested of the
foregoing voting rights (subject to revesting in the event of each subsequent Nonpayment) and the term of office of each Preferred Director so elected shall terminate and the number of directors on the Board of Directors shall automatically decrease
by two. Any Preferred Director may be removed at any time without cause by the holders of record of a majority of the outstanding shares of Series B Preferred Stock (together with holders of any other class or series of Parity Stock upon which
similar voting rights have been conferred and are exercisable. 
 (e) The vote or consent of the holders of the shares of Series B Preferred
Stock and any other class or series of Parity Stock on any matter on which the holders of shares of Series B Preferred Stock are entitled to vote shall be determined by the Corporation by reference to the specified liquidation amounts of the shares
voted or covered by the consent. Holders of shares of Series B Preferred Stock shall have no cumulative voting rights with respect to the election of the Preferred Directors. 

(f) The voting rights granted in Sections 7(a), (b), (c) and (d) shall not apply if, at or prior to the time when the act with
respect to which such vote would otherwise be required shall be effected, all outstanding shares of Series B Preferred Stock shall have been redeemed or called for redemption upon proper notice and sufficient funds shall have been set aside by the
Corporation for the benefit of the holders of the Series B Preferred Stock to effect such redemption. 
 SECTION 8. Conversion. The
holders of Series B Preferred Stock shall not have any rights to convert such Series B Preferred Stock into shares of any other class of capital stock of the Corporation. 

SECTION 9. Rank. Notwithstanding anything set forth in the Articles of Incorporation or this Certificate of Designation to the
contrary, the Board of Directors or any authorized committee of the Board of Directors, without the vote of the holders of the Series B Preferred Stock, may authorize and issue additional shares of Junior Stock, Parity Stock or, subject to the
voting rights granted in Section 7(b), any class of Senior Stock. 

  
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 SECTION 10. Repurchase. Subject to the limitations imposed herein, the Corporation may
purchase and sell Series B Preferred Stock from time to time to such extent, in such manner, and upon such terms as the Board of Directors or any duly authorized committee of the Board of Directors may determine; provided, however,
that the Corporation shall not use any of its funds for any such purchase when there are reasonable grounds to believe that the Corporation is, or by such purchase would be, rendered insolvent. 

SECTION 11. Unissued or Reacquired Shares. Shares of Series B Preferred Stock not issued or which have been issued and converted,
redeemed or otherwise purchased or acquired by the Corporation shall be restored to the status of authorized but unissued shares of Preferred Stock without designation as to series. 

SECTION 12. No Sinking Fund. Shares of Series B Preferred Stock are not subject to any mandatory redemption, sinking fund or other
similar provision. 
 SECTION 13. Preemptive Rights. The holders of shares of Series B Preferred Stock shall have no preemptive
rights with respect to any shares of the Corporation’s capital stock or any of its other securities convertible into or carrying rights or options to purchase any such capital stock. 

SECTION 14. Record Holders. To the fullest extent permitted by applicable law, the Corporation and the transfer agent for the Series B
Preferred Stock may deem and treat the record holder of any share of Series B Preferred Stock as the true and lawful owner thereof for all purposes, and neither the Corporation nor such transfer agent shall be affected by any notice to the contrary.

 SECTION 15. Notices. All notices or communications in respect of the Series B Preferred Stock shall be sufficiently given if given
in writing and delivered in person or by first class mail or if given in such other manner as may be permitted herein, in the Articles of Incorporation or By-laws of the Corporation or by applicable law. Notwithstanding the foregoing, if shares of
Series B Preferred Stock or depositary shares representing an interest in shares of Series B Preferred Stock are issued in book-entry form through DTC, such notices may be given to the holders of the Series B Preferred Stock in any manner permitted
by DTC. 
 SECTION 16. Stock Certificates; Evidence of Ownership. The Corporation may at its option issue shares of Series B
Preferred Stock without certificates. The Corporation may issue, or may cause to be issued any other evidences of ownership of the Series B Preferred Stock, including depositary shares, and receipts, and the holder of such evidence of ownership
shall be entitled to all rights of a shareholder, in proportion to the underlying shares of Series B Preferred Stock, or fraction thereof, represented by such evidence of ownership. 

  
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 SECTION 17. Other Rights. The Series B Preferred Stock shall not have any powers,
preferences, privileges or rights other than as set forth herein or in the Articles of Incorporation or as provided by applicable law. 

  
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 IN WITNESS WHEREOF, Commerce Bancshares, Inc. has caused this Certificate of Designation of
Series B Preferred Stock to be signed by Charles G. Kim, its Executive Vice President and Chief Financial Officer, this 13th day of June, 2014. 
  

			
	COMMERCE BANCSHARES, INC.,
		
	        By:	 	 /s/ Charles G. Kim

	        Name:	 	Charles G. Kim
	        Title:	 	 Executive Vice President and
 Chief Financial
Officer

  
 12

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