Document:

EX-4.2

 Exhibit 4.2 

DATED AS OF MAY 12, 2014 

EXCEL TRUST, L.P., 
 ISSUER, 

EXCEL TRUST, INC., 
 GUARANTOR,

 AND 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION, AS 
 TRUSTEE 
  

 
 SUPPLEMENTAL
INDENTURE 
 $250,000,000 
 4.625%
SENIOR NOTES DUE 2024 
  
  

 CONTENTS 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE I RELATION TO BASE INDENTURE
	  	 	1   	  
			
	 Section 1.1.
	 	Relation to Base Indenture.	  	 	1   	  
		
	 ARTICLE II DEFINITIONS
	  	 	2   	  
			
	 Section 2.1.
	 	Definitions.	  	 	2   	  
		
	 ARTICLE III THE SERIES OF NOTES
	  	 	6   	  
			
	 Section 3.1.
	 	Title of the Securities.	  	 	6   	  
			
	 Section 3.2.
	 	Price.	  	 	6   	  
			
	 Section 3.3.
	 	Issuance.	  	 	6   	  
			
	 Section 3.4.
	 	Limitation on Aggregate Principal Amount.	  	 	6   	  
			
	 Section 3.5.
	 	Interest and Interest Rates; Maturity Date of Notes.	  	 	7   	  
			
	 Section 3.6.
	 	Method of Payment.	  	 	7   	  
			
	 Section 3.7.
	 	Currency.	  	 	8   	  
			
	 Section 3.8.
	 	No Sinking Fund.	  	 	8   	  
			
	 Section 3.9.
	 	No Conversion or Exchange Rights.	  	 	8   	  
			
	 Section 3.10.
	 	No Personal Liability of Directors, Officers, Employees and Equityholders.	  	 	8   	  
			
	 Section 3.11.
	 	Registered Securities; Global Form.	  	 	9   	  
			
	 Section 3.12.
	 	Transfer and Exchange.	  	 	9   	  
			
	 Section 3.13.
	 	General Provisions Relating to Transfers and Exchanges.	  	 	12   	  
		
	 ARTICLE IV REDEMPTION
	  	 	13   	  
			
	 Section 4.1.
	 	Optional Redemption.	  	 	13   	  
			
	 Section 4.2.
	 	Notice of Optional Redemption; Selection of Notes.	  	 	14   	  
			
	 Section 4.3.
	 	Payment of Notes Called for Redemption by the Company.	  	 	15   	  
		
	 ARTICLE V GUARANTEE
	  	 	16   	  
			
	 Section 5.1.
	 	Guarantee.	  	 	16   	  
			
	 Section 5.2.
	 	Execution and Delivery of Guarantee.	  	 	17   	  
			
	 Section 5.3.
	 	Limitation of Guarantor’s Liability; Certain Bankruptcy Events.	  	 	17   	  
			
	 Section 5.4.
	 	Application of Certain Terms and Provisions to the Guarantor.	  	 	18   	  
		
	 ARTICLE VI ADDITIONAL COVENANTS
	  	 	18   	  
			
	 Section 6.1.
	 	Maintenance of Office or Agency.	  	 	18   	  
			
	 Section 6.2.
	 	Appointments to Fill Vacancies in Trustee’s Office.	  	 	19   	  

  
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	 Section 6.3.
	 	Limitations on Incurrence of Debt.	  	 	19   	  
		
	 ARTICLE VII DEFAULTS AND REMEDIES
	  	 	20   	  
			
	 Section 7.1.
	 	Events of Default.	  	 	21   	  
			
	 Section 7.2.
	 	Acceleration of Maturity; Rescission and Annulment.	  	 	22   	  
			
	 Section 7.3.
	 	Limitation on Suits.	  	 	23   	  
		
	 ARTICLE VIII AMENDMENTS AND WAIVERS
	  	 	23   	  
			
	 Section 8.1.
	 	Without Consent of Holders.	  	 	23   	  
		
	 ARTICLE IX MEETINGS OF HOLDERS OF NOTES
	  	 	24   	  
			
	 Section 9.1.
	 	Purposes for Which Meetings May Be Called.	  	 	24   	  
			
	 Section 9.2.
	 	Call, Notice and Place of Meetings.	  	 	24   	  
			
	 Section 9.3.
	 	Persons Entitled to Vote at Meetings.	  	 	24   	  
			
	 Section 9.4.
	 	Quorum; Action.	  	 	24   	  
			
	 Section 9.5.
	 	Determination of Voting Rights; Conduct and Adjournment of Meetings.	  	 	25   	  
			
	 Section 9.6.
	 	Counting Votes and Recording Action of Meetings.	  	 	26   	  
		
	 ARTICLE X MISCELLANEOUS PROVISIONS
	  	 	26   	  
			
	 Section 10.1.
	 	Ratification of Indenture.	  	 	26   	  
			
	 Section 10.2.
	 	Governing Law.	  	 	26   	  
			
	 Section 10.3.
	 	Counterparts.	  	 	26   	  
			
	 Section 10.4.
	 	Calculations in Respect of the Notes.	  	 	27   	  
			
	 Section 10.5.
	 	Successors and Assigns.	  	 	27   	  
			
	 Section 10.6.
	 	Time of the Essence.	  	 	27   	  
			
	 Section 10.7.
	 	Rights of Holders Limited.	  	 	27   	  
			
	 Section 10.8.
	 	Rights and Duties of Trustee.	  	 	27   	  
			
	 Section 10.9.
	 	Notices.	  	 	27   	  
			
	 Section 10.10.
	 	  Headings, etc.	  	 	28   	  
			
	 Section 10.11.
	 	  Conflicts.	  	 	28   	  
			
	 Section 10.12.
	 	  Trust Indenture Act Controls.	  	 	28   	  

  
 - ii - 

 SUPPLEMENTAL INDENTURE, dated as of May 12, 2014 (this “Supplemental
Indenture”), by and among EXCEL TRUST, L.P., a Delaware limited partnership (the “Company”), EXCEL TRUST, INC., a Maryland corporation (the “Guarantor”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a
national banking association, as trustee (the “Trustee”). 
 R E C I T A L S 

WHEREAS, the Company and the Trustee have heretofore entered into an Indenture dated as of May 12, 2014 (the
“Base Indenture”), providing for the issuance from time to time of debt securities of the Company in one or more Series; 

WHEREAS, Section 2.2 of the Base Indenture permits the Company and the Trustee to enter into a supplemental indenture to
the Base Indenture to establish the form, terms and conditions of Securities of any Series as permitted by the Base Indenture; 

WHEREAS, each of the Company and the Guarantor desires to execute this Supplemental Indenture to establish the form and to
provide for the issuance of a Series of the Company’s senior notes designated as its 4.625% Senior Notes due 2024 (the “Notes”) in an initial aggregate principal amount of $250,000,000; 

WHEREAS, the Guarantor will guarantee the due and punctual payment of the principal and interest on the Notes pursuant to
Article V of this Supplemental Indenture; 
 WHEREAS, the Board of Directors of the Guarantor, as the sole general
partner of the Company, has duly adopted resolutions authorizing the Company to execute and deliver this Supplemental Indenture and the Board of Directors of the Guarantor has duly adopted resolutions authorizing such Guarantor to execute and
deliver this Supplemental Indenture; and 
 WHEREAS, all other conditions and requirements necessary to make this
Supplemental Indenture, when duly executed and delivered, a valid and binding agreement in accordance with its terms and for the purposes herein expressed, have been performed and fulfilled. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, each of the Company and the Guarantor agrees as follows: 
 ARTICLE I 

RELATION TO BASE INDENTURE 

Section 1.1.    Relation to Base Indenture.  This Supplemental Indenture constitutes
an integral part of the Base Indenture. Notwithstanding any other provision of this Supplemental Indenture, all provisions of this Supplemental Indenture are expressly and solely for the benefit 

 
of the Holders of the Notes and any such provisions shall not be deemed to apply to any other Securities issued under the Base Indenture and shall not be deemed to amend, modify or supplement the
Base Indenture for any purpose other than with respect to the Notes. 
 ARTICLE II 

DEFINITIONS 

Section 2.1.    Definitions.  For all purposes of this Supplemental Indenture,
except as otherwise expressly provided for or unless the context otherwise requires: 

(a)      capitalized terms used but not defined herein shall have the respective meanings
assigned to them in the Base Indenture; 
 (b)      all references herein to Articles and
Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this Supplemental Indenture; and 

(c)      as used herein the following terms have the following meanings: 

“Acquired Debt” means Debt of a person (1) existing at the time such person becomes a Subsidiary of the
Company or (2) assumed in connection with the acquisition of assets from such person, in each case, other than Debt incurred in connection with, or in contemplation of, such person becoming a Subsidiary of the Company or such acquisition.
Acquired Debt shall be deemed to be incurred on the date of the related acquisition of assets from any person or the date the acquired person becomes a Subsidiary of the Company. 

“Additional Notes” means additional Notes (other than the Initial Notes) issued under the Indenture in
accordance with Section 3.4 hereof, as part of the same series as the Initial Notes. 
 “Adjusted Treasury
Rate” means, with respect to any Redemption Date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated by the Company and assuming a
price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Annual Debt Service Charge” means, for any period, the amount of interest expense determined on a
consolidated basis in accordance with GAAP. 
 “Applicable Procedures” means, with respect to any transfer
or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depository that apply to such transfer or exchange. 

“Authentication Order” means a Company Order to the Trustee to authenticate and deliver the Notes. 

“Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for the relief of
debtors. 

  
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 “Benefited Party” has the meaning set forth in Section 5.1
hereof. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation
Agent as having a maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect
to any Redemption Date, (1) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2) if fewer than four such Reference
Treasury Dealer Quotations are obtained, the average of all such Reference Treasury Dealer Quotations. 

“Consolidated Income Available for Debt Service” means, for any period, Earnings from Operations of the
Company and its Subsidiaries plus amounts which have been deducted, and minus amounts which have been added, for the following (without duplication): (1) Annual Debt Service Charge of the Company and its Subsidiaries, (2) provision for
taxes of the Company and its Subsidiaries based on income, (3) provisions for gains and losses on properties and depreciation and amortization, (4) increases in deferred taxes and other non-cash
items, (5) depreciation and amortization with respect to interests in joint venture and partially owned entity investments, (6) the effect of any charge resulting from a change in accounting principles in determining Earnings from
Operations for such period, and (7) amortization of deferred charges. 
 “Debt” means any of the
Company’s or any of its Subsidiaries’ indebtedness, whether or not contingent, in respect of (without duplication) (1) borrowed money evidenced by bonds, notes, debentures or similar instruments, (2) indebtedness secured by any
mortgage, pledge, lien, charge, encumbrance or any security interest existing on property owned by the Company or any of its Subsidiaries, but only to the extent of the lesser of (a) the amount of indebtedness so secured and (b) the fair
market value (determined in good faith by the Board of Directors) of the property subject to such mortgage, pledge, lien, charge, encumbrance or security interest, (3) the reimbursement obligations, contingent or otherwise, in connection with
any letters of credit actually issued or amounts representing the balance deferred and unpaid of the purchase price of any property or services, except any such balance that constitutes an accrued expense or trade payable, or all conditional sale
obligations or obligations under any title retention agreement, or (4) any lease of property by the Company or any of its Subsidiaries as lessee which is reflected on the Company’s consolidated balance sheet as a capitalized lease in
accordance with GAAP; but only to the extent, in the case of items of indebtedness under (1) through (3) above, that any such items (other than letters of credit) would appear as a liability on the Company’s consolidated balance sheet
in accordance with GAAP. The term “Debt” also includes, to the extent not otherwise included, any obligation of the Company or any of its Subsidiaries to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes
of collection in the ordinary course of business or for the purposes of guaranteeing the payment of all amounts due and owing pursuant to leases to which the Company or any of its Subsidiaries are a party and have assigned its or their interest,
provided that such assignee of the Company or its Subsidiary is not in default of any amounts due and owing under such leases), Debt of another person (other 

  
 - 3 - 

 
than the Company or any of its Subsidiaries) (it being understood that Debt shall be deemed to be incurred by the Company or any of its Subsidiaries whenever the Company or such Subsidiary shall
create, assume, guarantee or otherwise become liable in respect thereof). 
 “Defaulted Interest” has the
meaning set forth in Section 3.6 hereof. 
 “Definitive Note” means a certificated Note registered in
the name of the Holder thereof and issued in accordance with Section 3.12 hereof, substantially in the form of Exhibit A hereof except that such Note shall not bear the Global Note legend and shall not have the “Schedule of Exchanges
of Interests in the Global Note” attached thereto. 
 “Depository” means, with respect to the Notes,
the Depository Trust Company and any successor thereto. 
 “Earnings from Operations” means, for any
period, net income or loss of the Company and its Subsidiaries, excluding (1) provisions for gains and losses on sales of investments or joint ventures; (2) provisions for gains and losses on disposition of discontinued operations;
(3) extraordinary and non-recurring items; and (4) impairment charges, property valuation losses and non-cash charges necessary to record interest rate
contracts at fair value; plus amounts received as rent under leases which are accounted for as financing arrangements net of related interest income, as reflected in the consolidated financial statements of the Company and its Subsidiaries for such
period determined in accordance with GAAP. 
 “Event of Default” has the meaning set forth in
Section 7.1 hereof. 
 “Global Note” means, individually and collectively, each of the Notes in the
form of a Global Security issued to the Depository or its nominee, substantially in the form of Exhibit A. 

“Guarantee” and “Guarantees” mean, with respect to any Notes that that are guaranteed by the
Guarantor pursuant to Section 5.1, the full and unconditional guarantee provided by the Guarantor in respect of such Notes as set forth in Article V hereof and the guarantees endorsed on the certificates evidencing such Notes, or both, as the
context shall require. 
 “Guarantee Obligations” has the meaning set forth in Section 5.1 hereof.

 “Indenture” means the Base Indenture, as supplemented by this Supplemental Indenture, as further
supplemented, amended or restated. 
 “Indirect Participant” means a person who holds a beneficial interest
in a Global Note through a Participant. 
 “Initial Notes” means the first $250,000,000 aggregate principal
amount of Notes issued under this Supplemental Indenture on the date hereof. 
 “Initial Original Principal
Amount” has the meaning set forth in Section 3.4 hereof. 
 “Intercompany Debt” means Debt to
which the only parties are any of the Company, the Guarantor and any of their Subsidiaries; provided, however, that with respect to any such Debt 

  
 - 4 - 

 
of which the Company or the Guarantor is the borrower, such Debt is subordinate in right of payment to the Notes. 

“Interest Payment Date” has the meaning set forth in Section 3.5 hereof. 

“Maturity Date” has the meaning set forth in Section 3.5 hereof. 

“Notes” has the meaning specified in the third whereas clause hereof. The Initial Notes and the Additional
Notes shall be treated as a single class for all purposes under the Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional Notes. 

“Participant” means a person who has an account with the Depository. 

“Primary Treasury Dealer” means a primary U.S. Government securities dealer. 

“Prospectus” means the base prospectus, dated July 19, 2013, included as part of a registration
statement on Form S-3 under Securities Act, filed by the Company and the Guarantor with the SEC on June 21, 2013, as amended by Pre-Effective Amendment No. 1, filed by the Company and the
Guarantor with the SEC on July 16, 2013 (File Nos. 333-189517 and 333-189517-01), as supplemented by a prospectus
supplement, dated May 7, 2014, filed by the Company and the Guarantor with the SEC pursuant to Rule 424(b) under the Securities Act. 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company with respect to a particular
Comparable Treasury Issue. 
 “Record Date” has the meaning set forth in Section 3.5 hereof. 

“Redemption Date” means, with respect to any Note or portion thereof to be redeemed in accordance with the
provisions of Section 4.1 hereof, the date fixed for such redemption in accordance with the provisions of Section 4.1 hereof. 

“Redemption Price” has the meaning specified in Section 4.1 hereof. 

“Reference Treasury Dealer” means (1) Barclays Capital Inc. or its successor, (2) a primary U.S.
Government securities dealer (a “Primary Treasury Dealer”) selected by Wells Fargo Securities, LLC, and (3) any two other Primary Treasury Dealers selected by the Company; provided, however, that in each case if any Reference Treasury
Dealer ceases to be a Primary Treasury Dealer, the Company will substitute therefor another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury
Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder, as in effect from time to time. 

  
 - 5 - 

 “Significant Subsidiary” has the meaning set forth in
Section 7.1(e) hereof. 
 “Total Assets” as of any date means the sum of (1) the Company’s
and all of its Subsidiaries’ Undepreciated Real Estate Assets and (2) all of the Company’s and all of its Subsidiaries’ other assets (excluding acquisition intangibles, including goodwill) determined in accordance with GAAP. 

“Undepreciated Real Estate Assets” as of any date means the cost (original cost plus capital improvements) of
the Company’s and its Subsidiaries’ real estate assets on such date, before depreciation and amortization determined on a consolidated basis in accordance with GAAP. 

“Unencumbered Total Asset Value” as of any date means the sum of (1) those Undepreciated Real Estate
Assets not encumbered by any mortgage, lien, charge, pledge or security interest and (2) all of the Company’s and its Subsidiaries’ other assets on a consolidated basis (excluding acquisition intangibles, including goodwill)
determined in accordance with GAAP, in each case which are unencumbered by any mortgage, lien, charge, pledge or security interest; provided, however, that in determining Unencumbered Total Asset Value for purposes of this
Supplemental Indenture, all investments by the Guarantor and any of its Subsidiaries in unconsolidated joint ventures, unconsolidated limited partnerships, unconsolidated limited liability companies and other unconsolidated entities accounted for
financial reporting purposes using the equity method of accounting in accordance with GAAP shall be excluded from Unencumbered Total Asset Value. 

ARTICLE III 
 THE SERIES
OF NOTES 
 Section 3.1.    Title of the Securities.  There shall be a Series
of Securities designated the 4.625% Senior Notes due 2024. 

Section 3.2.    Price.  The Initial Notes shall be issued at a public offering price
of 99.477% of the principal amount thereof, other than any offering discounts pursuant to the initial offering and resale of the Notes. 

Section 3.3.   Issuance.  The Notes will be issued only in fully registered, book-entry form,
in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The registered Holder of a Note will be treated as its owner for all purposes. 

Section 3.4.    Limitation on Aggregate Principal Amount.  The aggregate principal
amount of the Notes shall initially be limited to $250,000,000 (the “Initial Original Principal Amount”). Notwithstanding the foregoing, the Company, without notice to or the consent of the Holders of the Notes, by Board Resolutions
or indentures supplemental to the Base Indenture from time to time may increase the principal amount of the Notes by issuing Additional Notes in the future on the same terms and conditions as the Initial Notes except for any difference in the issue
date, issue price, interest accrued prior to the issue date and, if applicable, the first interest payment date of the Additional Notes, and with the same CUSIP number as the Initial Notes so long as such Additional Notes are fungible for U.S.
income tax purposes with the Initial Notes. 

  
 - 6 - 

 
Except as provided in this Section 3.4, any such Board Resolutions or indentures supplemental to the Base Indenture and in Section 2.8 of the Base Indenture, the Company shall not
execute and the Trustee shall not authenticate or deliver Notes in excess of the Initial Original Principal Amount. 

Nothing contained in this Section 3.4 or elsewhere in this Supplemental Indenture, or in the Notes, is intended to or
shall limit execution by the Company or authentication or delivery by the Trustee of the Notes under the circumstances contemplated in Sections 2.3, 2.8, 2.11 and 3.6 of the Base Indenture. 

Section 3.5.    Interest and Interest Rates; Maturity Date of Notes.  The Notes will
bear interest at a rate of 4.625% per annum from May 12, 2014 or from the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, payable
semi-annually in arrears on May 15 and November 15 of each year, commencing November 15, 2014 (each, an “Interest Payment Date”), to the person in whose name such Note is
registered at the close of business on May 1 or November 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date (each, a “Record Date”). Interest will be computed on the
basis of a 360-day year composed of twelve 30-day months. 

If any Interest Payment Date, Maturity Date or Redemption Date falls on a day that is not a Business Day, the required payment
shall be made on the next Business Day as if it were made on the date such payment was due and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Maturity Date or Redemption Date, as the case
may be. 
 The Notes will mature on May 15, 2024 (the “Maturity Date”). 

Section 3.6.    Method of Payment.  The Company covenants and agrees that it will
duly and punctually pay or cause to be paid when due the principal of (including the Redemption Price upon redemption pursuant to Article IV, if applicable), and interest on each of the Securities at the places, at the respective times and in
the manner provided herein and in the Securities; provided that the Company may withhold from payments of interest and upon redemption pursuant to Article IV hereof, if applicable, maturity or otherwise, any amounts the Company is
required to withhold by law. Interest shall be payable at the office of the Company maintained by the Company for such purposes, which shall initially be an office or agency of the Trustee. The Company shall pay or cause the Paying Agent to pay
interest (i) on any Notes in certificated form by wire transfer of immediately available funds to the account specified by the Holder thereof in writing, or if no such account is specified, by mailing a check to each such Holder’s
registered address, or (ii) on any Global Note by wire transfer of immediately available funds to the account of the Depository or its nominee. Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any
May 15 or November 15 (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder registered as such on the relevant Record Date, and such Defaulted Interest shall be paid by the Company, at its
election in each case, as provided in clause (1) or (2) below: 
 (1)      The Company
may elect to make payment of any Defaulted Interest to the persons in whose names the Notes are registered at 5:00 p.m., New York City 

  
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time, on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each Note and the date of the proposed payment (which shall be not less than twenty-five (25) calendar days after the receipt by the Trustee of such notice, unless the Trustee shall consent to an earlier date),
and at the same time the Company shall deposit with the Trustee an amount of monies equal to the aggregate amount to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to
the date of the proposed payment, such monies when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of
such Defaulted Interest which shall be not more than fifteen (15) calendar days and not less than ten (10) calendar days prior to the date of the proposed payment, and not less than ten (10) calendar days after the receipt by the
Trustee of the notice of the proposed payment (unless, the Trustee shall consent to an earlier date). The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of
the proposed payment of such Defaulted Interest and the special record date therefor to be mailed (or sent by electronic transmission), first-class postage prepaid, to each Holder at its address as it appears in the register, not less than ten
(10) calendar days prior to such special record date (unless, the Trustee shall consent to an earlier date). Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been so mailed, such Defaulted
Interest shall be paid to the persons in whose names the Notes are registered at 5:00 p.m., New York City time, on such special record date and shall no longer be payable pursuant to the following clause (2) of this Section 3.6. 

(2)      The Company may make payment of any Defaulted Interest in any other lawful manner not
inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, and upon such notice as may be required by such exchange or automated quotation system, if,
after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

Section 3.7.    Currency.  Principal and interest on the Notes shall be payable in
Dollars. 
 Section 3.8.    No Sinking Fund.  The provisions of Article XI of
the Base Indenture shall not be applicable to the Notes. 
 Section 3.9.    No Conversion or
Exchange Rights.  The Notes will not be convertible into or exchangeable for any capital stock or other equity securities of the Company or the Guarantor. 

Section 3.10.  No Personal Liability of Directors, Officers, Employees and
Equityholders.    No director, officer, employee, or equityholder (past or present) of the Company or the Guarantor, as such, will have any liability for any of the Company’s or the Guarantor’s obligations under the
Notes, the Guarantee or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of
the consideration for issuance of the Notes and the Guarantee. 

  
 - 8 - 

 Section 3.11.    Registered Securities; Global
Form. The Notes will be issued in the form of one or more fully-registered Global Notes in book-entry form, which will be deposited with, or on behalf of, the Depository. The Notes shall not be issuable in Definitive Notes except as provided in
Section 3.12 of this Supplemental Indenture. The Notes and the Trustee’s certificate of authentication shall be substantially in the form attached as Exhibit A hereto. The Company shall execute each Global Note and each Definitive
Note, if any. The Trustee shall, in accordance with Section 2.3 of the Base Indenture, authenticate and hold each Global Note as custodian for the Depository, and authenticate each Definitive Note, if any. Each Global Note will represent such
of the outstanding Notes as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes
represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby will be made by the Trustee or a custodian at the direction of the Trustee. The terms and provisions contained in the form of Note attached as Exhibit A hereto shall constitute, and are hereby expressly
made, a part of the Indenture and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 

Section 3.12.    Transfer and Exchange. 

(a)        Transfer and Exchange of Global Notes.  A Global
Note may not be transferred except as a whole by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or to another nominee of the Depository, or by the Depository or any such nominee to a successor
Depository or a nominee of such successor Depository. All Global Notes will be exchanged by the Company for Definitive Notes if: 

(i)      the Company delivers to the Trustee notice from the Depository that it is unwilling or
unable to continue to act as Depository or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depository is not appointed by the Company within ninety (90) days after the date of such
notice from the Depository; 
 (ii)     the Company in its sole discretion determines that the
Global Notes (in whole but not in part) should be exchanged for Definitive Notes and delivers a written notice to such effect to the Trustee; or 

(iii)    an Event of Default has occurred and is continuing with respect to the Notes. 

Upon the occurrence of any of the preceding events in (i), (ii) or (iii) above, Definitive Notes shall be issued in
such names as the Depository shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.8 and 2.11 of the Base Indenture. Every Note authenticated and delivered in exchange for, or
in lieu of, a Global Note or any portion thereof, pursuant to this Section 3.12 or Section 2.8 and 2.11 of the Base Indenture, shall be authenticated and delivered in the form of, and shall be, a Global Note.

  
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A Global Note may not be exchanged for another Note other than as provided in this Section 3.12(a), however, beneficial interests in a Global Note may be transferred and exchanged as
provided in Section 3.12(c) or (d) hereof. 

(b)      Legend.  Any Global Note issued under this Supplemental Indenture
shall bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE
DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH
NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 3.12 OF THE SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 3.12 OF THE SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE BASE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE
OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK 10041) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER
ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.” 
 (c)      Transfer and Exchange of Beneficial Interests in the Global
Notes.  The transfer and exchange of beneficial interests in the Global Notes will be effected through the Depository, in accordance with the provisions of the Indenture and the Applicable Procedures. Transfers of beneficial interests
in the Global Notes will require compliance with either 

  
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subparagraph (1) or (2) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(1)      Transfer of Beneficial Interests in the Same Global Note.  Beneficial
interests in any Global Note may be transferred to persons who take delivery thereof in the form of a beneficial interest in a Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers
described in this Section 3.12(c)(1). 
 (2)      All Other Transfers of Beneficial
Interests in Global Notes.  In connection with all transfers of beneficial interests that are not subject to Section 3.12(c)(1) above, the transferor of such beneficial interest must deliver to the Registrar both: 

(i)       a written order from a Participant or an Indirect Participant given to the
Depository in accordance with the Applicable Procedures directing the Depository to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii)      instructions given in accordance with the Applicable Procedures containing
information regarding the Participant account to be credited with such increase. 
 Upon satisfaction of all of the
requirements for transfer or exchange of beneficial interests in Global Notes contained in the Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s)
pursuant to Section 3.12(g) hereof. 
 (d)      Transfer and Exchange of Beneficial
Interests in Global Notes for Definitive Notes.  If any holder of a beneficial interest in a Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a person who takes
delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 3.12(c)(2) hereof, the Trustee will cause the aggregate principal amount of the applicable Global Note to be reduced accordingly
pursuant to Section 3.12(g) hereof, and the Company will execute and the Trustee will authenticate and deliver to the person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in
exchange for a beneficial interest pursuant to this Section 3.12(d) will be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest requests through instructions to the
Registrar from or through the Depository and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the persons in whose names such Notes are so registered. 

(e)      Transfer and Exchange of Definitive Notes for Beneficial Interests in Global
Notes.  A Holder of a Definitive Note may exchange such Note for a beneficial interest in a Global Note or transfer such Definitive Notes to a person who takes delivery thereof in the form of a beneficial interest in a Global Note at
any time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Global Notes. 

  
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 If any such exchange or transfer from a Definitive Note to a beneficial interest
is effected pursuant to the previous paragraph at a time when a Global Note has not yet been issued, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 3.12 hereof, the Trustee will authenticate one
or more Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 

(f)         Transfer and Exchange of Definitive Notes for Definitive
Notes.  Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 3.12(f), the Registrar will register the transfer or exchange of Definitive Notes. Prior to such
registration of transfer or exchange, the requesting Holder will present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such
Holder or by his attorney, duly authorized in writing. A Holder of Definitive Notes may transfer such Notes to a person who takes delivery thereof in the form of a Definitive Note. Upon receipt of a request to register such a transfer, the Registrar
shall register the Definitive Notes pursuant to the instructions from the Holder thereof. 

(g)        Cancellation and/or Adjustment of Global Notes.  At such
time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or
retained and canceled by the Trustee in accordance with Section 2.12 of the Base Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a person who will take delivery
thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee
or by the Depository at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a person who will take delivery thereof in the form of a beneficial interest in another Global
Note, such other Global Note will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

Section 3.13.     General Provisions Relating to Transfers and Exchanges. 

(a)         To permit registrations of transfers and exchanges, the Company will
execute and the Trustee will authenticate Global Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 3.12 hereof or at the Registrar’s request. 

(b)         No service charge will be made to a Holder of a beneficial interest
in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith
(other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.11 and 9.6 of the Base Indenture). 

  
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 (c)        The Registrar will not be
required to register the transfer of or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 

(d)        All Global Notes and Definitive Notes issued upon any registration of
transfer or exchange of Global Notes or Definitive Notes will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under the Indenture, as the Global Notes or Definitive Notes surrendered upon such
registration of transfer or exchange. 
 (e)        Neither the Registrar nor the
Company will be required: 
 (i)       to issue, register the transfer of or to exchange
any Note during a period beginning at the opening of business fifteen (15) days before any selection of Notes for redemption under Article IV hereof and ending at the close of business on the earliest date on which the relevant notice of
redemption is deemed to have been given to all Holders of Notes to be so redeemed; 

(ii)      to register the transfer of or to exchange any Note so selected for redemption in
whole or in part, except the unredeemed portion of any Note being redeemed in part; or 

(iii)     to register the transfer of or to exchange a Note between a Record Date and the next
succeeding Interest Payment Date. 
 (f)        Prior to due presentment for the
registration of a transfer of any Note, the Trustee, any Agent and the Company may deem and treat the person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on
such Notes and for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 

(g)        The Trustee will authenticate Global Notes and Definitive Notes in
accordance with the provisions of Section 2.3 of the Base Indenture. 

(h)        All certifications, certificates and Opinions of Counsel required to be
submitted to the Registrar pursuant to this Section 3.13 to effect a registration of transfer or exchange may be submitted by facsimile. 

ARTICLE IV 
 REDEMPTION

 The provisions of Article III of the Base Indenture, as amended by the provisions of this Supplemental
Indenture, shall apply to the Notes. 
 Section 4.1.      Optional Redemption. 

(a)        On or before February 15, 2024, the Company shall have the right to
redeem the Notes at its option and in its sole discretion, in whole or from time to time in part. 

  
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The redemption price (“Redemption Price”) will equal the greater of (i) 100% of the principal amount of the Notes to be redeemed plus unpaid interest, if any, accrued
thereon to, but excluding, the Redemption Date; or (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of
interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 35 basis points (0.35% or 0.35 percent), plus accrued and unpaid interest thereon to, but excluding, the Redemption Date; provided, however,
that if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Company will pay the full amount of accrued and unpaid interest, if any, on such Interest Payment Date to the Holder of
record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Notes for redemption). Notwithstanding the foregoing, if the Notes are redeemed after February 15, 2024, the Redemption Price will be equal
to 100% of the principal amount of the Notes being redeemed plus unpaid interest, if any, accrued thereon to, but excluding, the Redemption Date. 

(b)      The Company shall not redeem the Notes pursuant to Section 4.1(a) on any date if
the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Company in the payment of the Redemption
Price with respect to the Notes to be redeemed). 
 Section 4.2.    Notice of Optional
Redemption; Selection of Notes.     In case the Company shall desire to exercise the right to redeem all or, as the case may be, any part of the Notes pursuant to Section 4.1 hereof, it shall fix a date for
redemption and it or, at its written request received by the Trustee not fewer than five (5) Business Days prior (or such shorter period of time as may be acceptable to the Trustee) to the date the notice of redemption is to be sent, the
Trustee in the name of and at the expense of the Company, shall send or cause to be sent a notice of such redemption not fewer than thirty (30) calendar days nor more than sixty (60) calendar days prior to the Redemption Date to each
Holder of Notes so to be redeemed in whole or in part at its last address as the same appears on the register; provided that if the Company makes such request of the Trustee, it shall, together with such request, also give written notice of
the Redemption Date to the Trustee; provided further that the text of the notice shall be prepared by the Company. Such notice shall be by first-class mail or electronic delivery in PDF format. The notice, if mailed in the manner herein
provided, shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, failure to give such notice or any defect in the notice to the Holder of any Note designated for redemption as a whole or
in part shall not affect the validity of the proceedings for the redemption of any other Note. 
 Each such notice of
redemption shall specify: (i) the aggregate principal amount of Notes to be redeemed, (ii) the CUSIP number or numbers, if any, of the Notes being redeemed, (iii) the Redemption Date (which shall be a Business Day), (iv) the
Redemption Price at which Notes are to be redeemed, (v) the place or places of payment and that payment will be made upon presentation and surrender of such Notes and (vi) that interest accrued and unpaid to, but excluding, the Redemption
Date will be paid as specified in said notice, and that on and after said date interest thereon or on the portion thereof to be redeemed will cease to accrue. If fewer 

  
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than all the Notes are to be redeemed, the notice of redemption shall identify the Notes to be redeemed (including CUSIP numbers, if any). In case any Note is to be redeemed in part only, the
notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state that, on and after the Redemption Date, upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion
thereof will be issued. 
 Whenever any Notes are to be redeemed, the Company will give the Trustee written notice of the
Redemption Date as to the aggregate principal amount of Notes to be redeemed not fewer than thirty (30) calendar days (or such shorter period of time as may be acceptable to the Trustee) prior to the Redemption Date. 

On or prior to the Redemption Date specified in the notice of redemption given as provided in this Section 4.2, the
Company will deposit with the Paying Agent an amount of monies in immediately available funds sufficient to redeem on the Redemption Date all the Notes (or portions thereof) so called for redemption at the appropriate Redemption Price; provided
that if such payment is made on the Redemption Date, it must be received by the Paying Agent, by 11:00 a.m., New York City time, on such date. 

If less than all of the outstanding Notes are to be redeemed, the Trustee shall select the Notes or portions thereof of the
Global Note or the Notes in certificated form to be redeemed (in principal amounts of $2,000 and integral multiples of $1,000 in excess thereof), on a pro rata basis or such other method the Trustee deems fair and appropriate and as is required by
the Depository. The Notes (or portions thereof) so selected for redemption shall be deemed duly selected for redemption for all purposes hereof. 

Section 4.3.    Payment of Notes Called for Redemption by the Company.  If notice of
redemption has been given as provided in Section 4.2, the Notes or portion of Notes with respect to which such notice has been given shall become due and payable on the Redemption Date and at the place or places stated in such notice at the
Redemption Price, and unless the Company shall default in the payment of such Notes at the Redemption Price, so long as the Paying Agent holds funds sufficient to pay the Redemption Price of the Notes to be redeemed on the Redemption Date, then
(a) such Notes will cease to be outstanding on and after the Redemption Date, (b) interest on the Notes or portion of Notes so called for redemption shall cease to accrue on and after the Redemption Date, (c) on and after the
Redemption Date (unless the Company shall default in the payment of the Redemption Price), such Notes will cease to be entitled to any benefit or security under this Indenture, and (d) the Holders of the Notes shall have no right in respect of
such Notes except the right to receive the Redemption Price thereof. On presentation and surrender of such Notes at a place of payment in said notice specified, the said Notes or the specified portions thereof shall be paid and redeemed by the
Company at the Redemption Price. 
 Upon presentation of any Note redeemed in part only, the Company shall execute and the
Trustee shall authenticate and make available for delivery to the Holder thereof, at the expense of the Company, a new Note or Notes, of authorized denominations, in principal amount equal to the unredeemed portion of the Notes so presented. 

  
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 ARTICLE V 

GUARANTEE 

This Article V shall replace Article XII of the Base Indenture with respect to the Notes only. 

Section 5.1.    Guarantee.   By its execution hereof, the Guarantor
acknowledges and agrees that the Notes shall be entitled to the benefits of a Guarantee. Accordingly, subject to the provisions of this Article, the Guarantor hereby unconditionally guarantees to each Holder of a Note authenticated and delivered by
the Trustee and its successors and assigns that: (i) the principal of (including the Redemption Price upon redemption pursuant to Article IV), and any premium and interest on, the Notes shall be duly and punctually paid in full when due,
whether at the Maturity, upon acceleration, upon redemption or otherwise, and interest on overdue principal of, and any premium and (to the extent permitted by law) interest on, the Notes and all other obligations of the Company to the Holders or
the Trustee hereunder or under the Notes (including fees, expenses or other) shall be promptly paid in full or performed, all in accordance with the terms hereof; and (ii) in case of any extension of time of payment or renewal of any Notes or
any of such other obligations, the same shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at the Maturity, by acceleration, call for redemption or otherwise, subject, however, in
the case of clauses (i) and (ii) above, to the limitations set forth in this Article (collectively, the “Guarantee Obligations”). 

Subject to the provisions of this Article, the Guarantor hereby agrees that its Guarantee hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or the Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any thereof, the entry of any judgment against
the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of the Guarantor. The Guarantor hereby waives and relinquishes: (a) any right to require the
Trustee, the Holders or the Company (each, a “Benefited Party”) to proceed against the Company or any other person or to proceed against or exhaust any security held by a Benefited Party at any time or to pursue any other remedy in
any secured party’s power before proceeding against the Guarantor; (b) any defense that may arise by reason of the incapacity, lack of authority, death or disability of any other person or persons or the failure of a Benefited Party to
file or enforce a claim against the estate (in administration, bankruptcy or any other proceeding) of any other person or persons; (c) demand, protest and notice of any kind (except as expressly required by the Indenture), including but not
limited to notice of the existence, creation or incurring of any new or additional indebtedness or obligation or of any action or non-action on the part of the Guarantor, the Company, any Benefited Party, any
creditor of the Guarantor or the Company or on the part of any other person whomsoever in connection with any obligations the performance of which are hereby guaranteed; (d) any defense based upon an election of remedies by a Benefited Party,
including but not limited to an election to proceed against the Guarantor for reimbursement; (e) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other
respects more burdensome than that of the principal; (f) any defense arising because of a Benefited Party’s election, in any proceeding instituted under the Bankruptcy Law, of the application of Section 1111(b)(2) of the Bankruptcy
Law; and 

  
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(g) any defense based on any borrowing or grant of a security interest under Section 364 of the Bankruptcy Law. The Guarantor hereby covenants that, except as otherwise provided
therein, the Guarantee shall not be discharged except by payment in full of all Guarantee Obligations, including the principal of, and any premium and interest on, the Notes and all other costs provided for under the Indenture. 

If any Holder or the Trustee is required by any court or otherwise to return to either the Company or the Guarantor, or any
trustee or similar official acting in relation to either the Company or the Guarantor, any amount paid by the Company or the Guarantor to the Trustee or such Holder, the Guarantee, to the extent theretofore discharged, shall be reinstated in full
force and effect. The Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any Guarantee Obligations hereby until payment in full of all such obligations guaranteed hereby. The Guarantor
agrees that, as between it, on the one hand, and the Holders of Notes and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article VI of the Base Indenture for the
purposes hereof, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guarantee Obligations, and (y) in the event of any acceleration of such obligations as provided in Article VI of the
Base Indenture, such Guarantee Obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantor for the purpose of the Guarantee. 

Section 5.2.    Execution and Delivery of Guarantee. 

(a)      To evidence the Guarantee set forth in Section 5.1 hereof, the Guarantor agrees
that a Notation of Guarantee substantially in the form included in Exhibit B hereto shall be endorsed on each Note authenticated and delivered by the Trustee and that this Supplemental Indenture shall be executed on behalf of the Guarantor by
an Officer of the Guarantor. 
 (b)      The Guarantor agrees that the Guarantee set forth in
this Article V shall remain in full force and effect and apply to all the Notes notwithstanding any failure to endorse on each Note a notation of the Guarantee. 

(c)      If an Officer whose facsimile signature is on a Note or a notation of Guarantee no
longer holds that office at the time the Trustee authenticates the Note on which the Guarantee is endorsed, the Guarantee shall be valid nevertheless. 

(d)      The delivery of any Note by the Trustee, after the authentication thereof hereunder,
shall constitute due delivery of the Guarantee set forth in this Supplemental Indenture on behalf of the Guarantor. 

Section 5.3.    Limitation of Guarantor’s Liability; Certain Bankruptcy Events. 

(a)      The Guarantor, and by its acceptance hereof each Holder, hereby confirms that it is
the intention of all such parties that the Guarantee Obligations of the Guarantor pursuant to its Guarantee not constitute a fraudulent transfer or conveyance for purposes of any Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform
Fraudulent Transfer Act or any similar federal or state law. To effectuate the foregoing intention, the Holders and the Guarantor hereby irrevocably agree that the Guarantee Obligations of the Guarantor under this

  
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Article V shall be limited to the maximum amount as shall, after giving effect to all other contingent and fixed liabilities of the Guarantor, result in the Guarantee Obligations of the
Guarantor under the Guarantee not constituting a fraudulent transfer or conveyance. 

(b)      The Guarantor hereby covenants and agrees, to the fullest extent that it may do so
under applicable law, that in the event of the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company, the Guarantor shall not file (or join in any filing of), or otherwise seek to participate in the filing of, any motion
or request seeking to stay or to prohibit (even temporarily) execution on the Guarantee and hereby waives and agrees not to take the benefit of any such stay of execution, whether under Section 362 or 105 of the Bankruptcy Law or otherwise.

 Section 5.4.    Application of Certain Terms and Provisions to the Guarantor. 

(a)      For purposes of any provision of the Indenture which provides for the delivery by the
Guarantor of an Officer’s Certificate and/or an Opinion of Counsel, the definitions of such terms in Section 2.1 hereof shall apply to the Guarantor as if references therein to the Company or the Guarantor, as applicable, were references
to the Guarantor. 
 (b)      Upon any demand, request or application by the Guarantor to the
Trustee to take any action under the Indenture, the Guarantor shall furnish to the Trustee such certificates and opinions as are required in Sections 10.4 and 10.5 of the Base Indenture, as if all references therein to the Company were
references to the Guarantor. 
 ARTICLE VI 

ADDITIONAL COVENANTS 

The following additional covenants shall apply with respect to the Notes so long as any of the Notes remain outstanding. 

Section 6.1.    Maintenance of Office or Agency.  The Company will maintain an
office or agency in the United States where the Notes may be surrendered for registration of transfer or exchange or for presentation for payment or redemption and where notices and demands in respect of the Notes and the Indenture may be served. As
of the date of the Indenture, such office shall be the Corporate Trust Office and, at any other time, at such other address as the Trustee may designate from time to time by notice to the Company. The Company will give prompt written notice to the
Trustee of the location, and any change in the location, of such office or agency not designated or appointed by the Trustee. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee
with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office. 

The Company may also from time to time designate co-registrars and one or more offices
or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any
change in the location of any such other office or agency. 

  
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 The Company hereby initially designates the Trustee as Paying Agent, Registrar
and Custodian and the Corporate Trust Office shall be considered as one such office or agency of the Company for each of the aforesaid purposes. 

Section 6.2.    Appointments to Fill Vacancies in Trustee’s Office.  The
Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, upon the terms and conditions and otherwise as provided in Section 7.8 of the Base Indenture, a Trustee, so that there shall at all times be a
Trustee hereunder. 
 Section 6.3.    Limitations on Incurrence of Debt. 

(a)      The Company will not, and will not permit any of its Subsidiaries to, incur any Debt,
other than Intercompany Debt and guarantees of Debt incurred by the Company or its Subsidiaries in compliance with this Indenture, if, immediately after giving effect to the incurrence of such Debt and the application of the proceeds thereof, the
aggregate principal amount of all of the Company’s and its Subsidiaries’ outstanding Debt on a consolidated basis determined in accordance with GAAP is greater than 60% of the sum of (without duplication) (1) Total Assets as of the
last day of the calendar quarter covered in the Company’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as the case may be, most recently
filed with the SEC (or, if such filing is not permitted under the Exchange Act, with the Trustee) prior to the incurrence of such additional Debt and (2) the purchase price of any real estate assets or mortgages receivable acquired, and the
amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the Company or any of its Subsidiaries since the last day of such
calendar quarter, including those proceeds obtained in connection with the incurrence of such additional Debt. 

(b)      The Company will not, and will not permit any of its Subsidiaries to, incur any Debt,
other than Intercompany Debt and guarantees of Debt incurred by the Company or its Subsidiaries in compliance with this Indenture, secured by any mortgage, lien, charge, pledge, encumbrance or security interest upon any of the Company’s or any
of its Subsidiaries’ property if, immediately after giving effect to the incurrence of such Debt and the application of the proceeds thereof, the aggregate principal amount of all of the Company’s and its Subsidiaries’ outstanding
Debt on a consolidated basis which is secured by any mortgage, lien, charge, pledge, encumbrance or security interest on the Company’s or its Subsidiaries’ property is greater than 40% of the sum of (without duplication) (1) Total
Assets as of the last day of the calendar quarter covered in the Company’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as the case may
be, most recently filed with the SEC (or, if such filing is not permitted under the Exchange Act, with the Trustee) prior to the incurrence of such additional Debt and (2) the purchase price of any real estate assets or mortgages receivable
acquired, and the amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the Company or any of its Subsidiaries since the last
day of such calendar quarter, including those proceeds obtained in connection with the incurrence of such additional Debt; provided, that for purposes of this limitation, the amount of obligations under capital leases shown as a
liability on the Company’s consolidated balance sheet shall be deducted from Debt and from Total Assets. 

  
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 (c)      The Company will not, and will not permit
any of its Subsidiaries to, incur any Debt, other than Intercompany Debt and guarantees of Debt by the Company or its Subsidiaries in compliance with this Indenture, if the ratio of Consolidated Income Available for Debt Service to the Annual Debt
Service Charge for the four consecutive fiscal quarters most recently ended prior to the date on which such additional Debt is to be incurred shall have been less than 1.5 to 1.0, on an unaudited pro forma basis after giving effect thereto and to
the application of the proceeds therefrom (determined on a consolidated basis in accordance with GAAP), and calculated on the assumption that: (1) such Debt and any other Debt incurred by the Company and its Subsidiaries since the first day of
such four-quarter period and the application of the proceeds therefrom, including to refinance other Debt, had occurred on the first day of such period; (2) the repayment or retirement of any other Debt by the Company and its Subsidiaries since
the first day of such four-quarter period had been repaid or retired on the first day of such period (except that, in making such computation, the amount of Debt under any revolving credit facility shall be computed based upon the average daily
balance of such Debt during such period); (3) in the case of Acquired Debt or Debt incurred in connection with any acquisition since the first day of such four-quarter period, the related acquisition had occurred as of the first day of such
period, with the appropriate adjustments with respect to such acquisition being included in such unaudited pro forma calculation; and (4) in the case of any acquisition or disposition by the Company or its Subsidiaries of any asset or group of
assets or other placement of any assets in service or removal of any assets from service by the Company or any of its Subsidiaries since the first day of such four-quarter period, whether by merger, stock purchase or sale, or asset purchase or sale,
such acquisition, disposition, placement in service or removal from service, or any related repayment of Debt had occurred as of the first day of such period, with the appropriate adjustments with respect to such acquisition, disposition, placement
in service or removal from service, being included in such unaudited pro forma calculation. If the Debt giving rise to the need to make the calculation described in this covenant or any other Debt incurred after the first day of the relevant
four-quarter period bears interest at a floating rate, then, for purposes of calculating the Annual Debt Service Charge, the interest rate on such Debt will be computed on a pro forma basis as if the average rate which would have been in effect
during the entire four-quarter period had been the applicable rate for the entire period. 

(d)      The Company, together with its Subsidiaries, will at all times maintain an
Unencumbered Total Asset Value in an amount not less than 150% of the aggregate outstanding principal amount of all the Company’s and its Subsidiaries’ unsecured Debt, taken as a whole. 

ARTICLE VII 
 DEFAULTS
AND REMEDIES 
 Sections 7.1, 7.2 and 7.3 hereof shall replace Sections 6.1, 6.2 and 6.7, respectively, of the
Base Indenture with respect to the Notes only. 

  
 - 20 - 

 Section 7.1.    Events of Default. 

“Event of Default,” wherever used herein or in the Base Indenture with respect to the Notes, means any one of
the following events: 
 (a)      default in the payment of any interest on the Notes when it
becomes due and payable, and continuance of that default for a period of thirty (30) days (unless the entire amount of the payment is deposited by the Company with the Trustee or with a Paying Agent prior to the expiration of such 30-day period); 
 (b)      default in the payment of
principal of, premium on or Redemption Price due with respect to, the Notes when the same shall become due and payable; 

(c)      failure to pay any indebtedness of the Company, the Guarantor or any Subsidiary in an
outstanding principal amount in excess of $35,000,000 at final maturity or upon acceleration after the expiration of any applicable grace period, which indebtedness is not discharged, or such default in payment or acceleration is not cured or
rescinded, within sixty (60) days after written notice to the Company from the Trustee (or to the Company and the Trustee from Holders of at least 25% in aggregate principal amount of the Notes then outstanding); 

(d)      default in the performance or breach of any other covenant or warranty by the Company
or the Guarantor in the Indenture (other than a covenant or warranty that has been included in the Indenture solely for the benefit of a series of debt securities other than the Notes), which default continues uncured for a period of sixty
(60) days after the Company receives written notice from the Trustee or the Company and the Trustee receive written notice from the Holders of at least 25% in aggregate principal amount of the Notes then outstanding; 

(e)      the Company, the Guarantor or any “significant subsidiary” as such term is
defined in Rule 1-02 of Regulation S-X (a “Significant Subsidiary”): 

(i)       commences a voluntary case or proceeding seeking liquidation, reorganization or
other relief with respect to the Company, the Guarantor or a Significant Subsidiary or its debts or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company, the Guarantor or a Significant
Subsidiary or any substantial part of the property of the Company, the Guarantor or a Significant Subsidiary; 

(ii)      consents to any such relief or to the appointment of or taking possession by any such
official in an involuntary case or other proceeding commenced against the Company, the Guarantor or a Significant Subsidiary; 

(iii)     consents to the appointment of a Custodian of it or for all or substantially of its
property; 
 (iv)     makes a general assignment for the benefit of creditors; or 

(v)      generally is unable to pay its debts as the same become due; 

  
 - 21 - 

 (f)      an involuntary case or other proceeding
shall be commenced against the Company, the Guarantor or any Significant Subsidiary seeking liquidation, reorganization or other relief with respect to the Company, the Guarantor or a Significant Subsidiary or its debts under any bankruptcy,
insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company, the Guarantor or a Significant Subsidiary or any substantial part of the
property of the Company, the Guarantor or a Significant Subsidiary, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of sixty (60) calendar days; or 

(g)      a court of competent jurisdiction enters an order or decree under any Bankruptcy Law
that: 
 (i)       is for relief against the Company, the Guarantor or any of
Significant Subsidiary in an involuntary case or proceeding; 
 (ii)      appoints a
Custodian of the Company, the Guarantor or a Significant Subsidiary or any substantial part of the property of the Company, the Guarantor or a Significant Subsidiary; or 

(iii)     orders the liquidation of the Company, the Guarantor or a Significant Subsidiary; and, in
each case in this clause (g), the order or decree remains unstayed and in effect for sixty (60) calendar days. 

The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law. 
 Section 7.2.     Acceleration of Maturity; Rescission and
Annulment.  If an Event of Default with respect to the Notes at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 7.1 (e), (f) or (g) hereof), then in every such case
the Trustee or the Holders of not less than 25% in principal amount of the outstanding Notes may, by a notice in writing to the Company (and to the Trustee if given by the Holders), declare to be due and payable immediately the principal of, and
accrued and unpaid interest, if any, on all of the Notes, and upon any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified
in Section 7.1 (e), (f) or (g) hereof shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Notes will automatically become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holder of outstanding Notes. 
 At any time after a
declaration of acceleration with respect to Notes has been made, but before a judgment or decree for payment of the money due has been obtained by the Trustee, the Holders of a majority in principal amount of the outstanding Notes, by written notice
to the Company and the Trustee, may rescind and annul such declaration and the acceleration if all Events of Default, other than the non-payment of accelerated principal and interest, if any, with respect to
the Notes, have been cured or waived as provided in Section 6.13 of the Base Indenture. No such rescission and annulment shall extend to or shall affect any subsequent default or Event of Default, or shall impair any right consequent thereon.

  
 - 22 - 

 Section 7.3.   Limitation on Suits.  No Holder of
the Notes shall have any right to institute any proceeding, judicial or otherwise, with respect to the Indenture or for the appointment of a receiver or trustee, or for any remedy under the Indenture, unless: 

(a)      such Holder has previously given to the Trustee written notice of a continuing Event
of Default with respect to the Notes; 
 (b)      the Holders of at least 25% in principal
amount of the outstanding Notes shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(c)      such Holder or Holders have offered to the Trustee indemnity or security reasonably
satisfactory to the Trustee, against the costs, expenses and liabilities to be incurred in compliance with such request; 

(d)      the Trustee for sixty (60) days after its receipt of such notice, request and
offer of indemnity or security reasonably satisfactory to the Trustee, has failed to institute any such proceeding; and 

(e)      no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of at least 25% in principal amount of the outstanding Notes. 

ARTICLE VIII 

AMENDMENTS AND WAIVERS 

Section 8.1.    Without Consent of Holders.  The Company, when authorized by the
resolutions of the Board of Directors, the Guarantor and the Trustee may, from time to time, and at any time enter into an indenture or indentures supplemental without the consent of the Holders of the Notes hereto for any of the purposes set forth
in Section 9.1 of the Base Indenture, or to conform the text of the Indenture, any Guarantee or the Notes to any provision of the description thereof set forth in the Prospectus to the extent that such provision in the Prospectus was intended
to be a verbatim recitation of a provision of the Indenture, such Guarantee or the Notes (as certified in an Officer’s Certificate). 

Upon the written request of the Company, accompanied by a copy of the resolutions of the Board of Directors certified by the
Guarantor’s Secretary or Assistant Secretary authorizing the execution of any supplemental indenture, the Trustee is hereby authorized to join with the Company and the Guarantor in the execution of any such supplemental indenture, to make any
further appropriate agreements and stipulations that may be therein contained and to accept the conveyance, transfer and assignment of any property thereunder, but the Trustee shall not be obligated to, but may in its discretion, enter into any
supplemental indenture that affects the Trustee’s own rights, duties or immunities under the Indenture or otherwise. 

Any supplemental indenture authorized by the provisions of this Section 8.1 may be executed by the Company, the Guarantor
and the Trustee without the consent of the Holders of 

  
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any of the Notes at the time outstanding, notwithstanding any of the provisions of Section 9.2 or 9.3 of the Base Indenture. 

ARTICLE IX 
 MEETINGS OF
HOLDERS OF NOTES 
 Section 9.1.    Purposes for Which Meetings May Be
Called.  A meeting of Holders may be called at any time and from time to time pursuant to this Article IX to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other act provided by the
Indenture to be made, given or taken by Holders. 
 Section 9.2.    Call, Notice and Place of
Meetings. 
 (a)      The Trustee may at any time call a meeting of Holders for any
purpose specified in Section 9.1 hereof, to be held at such time and at such place in The City of New York, New York as the Trustee shall determine. Notice of every meeting of Holders, setting forth the time and the place of such meeting and in
general terms the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 10.2 of the Base Indenture, not less than twenty-one (21) nor more than one hundred eighty (180) days prior to the date
fixed for the meeting. 
 (b)      In case at any time the Company, the Guarantor or the
Holders of at least 25% in principal amount of the outstanding Notes shall have requested the Trustee to call a meeting of the Holders for any purpose specified in Section 9.1 hereof, by written request setting forth in reasonable detail the
action proposed to be taken at the meeting, and the Trustee shall not have mailed notice of or made the first publication of the notice of such meeting within twenty-one (21) days after receipt of such request or shall not thereafter proceed to
cause the meeting to be held as provided herein, then the Company, the Guarantor, if applicable, or the Holders in the amount above specified, as the case may be, may determine the time and the place in the City of New York, New York, for such
meeting and may call such meeting for such purposes by giving notice thereof as provided in clause (a) of this Section. 

Section 9.3.    Persons Entitled to Vote at Meetings.  To be entitled to vote at any
meeting of Holders, a person shall be (1) a Holder of one or more outstanding Notes, or (2) a person appointed by an instrument in writing as proxy for a Holder or Holders of one or more outstanding Notes by such Holder or Holders;
provided, that none of the Company, any other obligor upon the Notes or any Affiliate of the Company shall be entitled to vote at any meeting of Holders or be counted for purposes of determining a quorum at any such meeting in respect
of any Notes owned by such persons. The only persons who shall be entitled to be present or to speak at any meeting of Holders shall be the persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its
counsel, any representatives of the Guarantor and its counsel and any representatives of the Company and its counsel. 

Section 9.4.    Quorum; Action.  The persons entitled to vote a majority in
principal amount of the outstanding Notes shall constitute a quorum for a meeting of Holders; provided, however, that if any action is to be taken at the meeting with respect to a consent or waiver

  
 - 24 - 

 
which may be given by the Holders of not less than a specified percentage in principal amount of the outstanding Notes, the persons holding or representing the specified percentage in principal
amount of the outstanding Notes will constitute a quorum. In the absence of a quorum within thirty (30) minutes after the time appointed for any such meeting, the meeting shall, if convened at the request of Holders, be dissolved. In any other
case, the meeting may be adjourned for a period of not less than ten (10) days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned
meeting may be further adjourned for a period of not less than ten (10) days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall be given as
provided in Section 9.2 hereof, except that such notice need be given only once not less than five (5) days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned meeting shall state
expressly the percentage, as provided above, of the principal amount of the outstanding Notes which shall constitute a quorum. 

Except as limited by Section 9.3 of the Base Indenture, any resolution presented to a meeting or adjourned meeting duly
reconvened at which a quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in principal amount of the outstanding Notes; provided, however, that, except as limited by
Section 9.3 of the Base Indenture, any resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other action which the Indenture expressly provides may be made, given or taken by the Holders of a
specified percentage, which is less than a majority, in principal amount of the outstanding Notes may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the
Holders of such specified percentage in principal amount of the outstanding Notes. 
 Any resolution passed or decision
taken at any meeting of Holders duly held in accordance with this Section 9.4 shall be binding on all the Holders, whether or not such Holders were present or represented at the meeting. 

Section 9.5.    Determination of Voting Rights; Conduct and Adjournment of Meetings. 

(a)      Notwithstanding any other provisions of the Indenture, the Trustee may make such
reasonable regulations as it may deem advisable for any meeting of Holders in regard to proof of the holding of Notes and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and
examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. 

(b)      The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders as provided in Section 9.2(b) hereof, in which case the Company, the Guarantor or the Holders calling the meeting, as the case may be, shall in like manner appoint
a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the persons entitled to vote a majority in principal amount of the outstanding Notes of such series represented at the meeting. 

  
 - 25 - 

 (c)      At any meeting, each Holder or proxy
shall be entitled to one (1) vote for each $1,000 principal amount of Notes held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note challenged as not
outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman of the meeting shall have no right to vote, except as a Holder or proxy. 

(d)      Any meeting of Holders duly called pursuant to Section 9.2 hereof at which a
quorum is present may be adjourned from time to time by persons entitled to vote a majority in principal amount of the outstanding Notes represented at the meeting; and the meeting may be held as so adjourned without further notice. 

Section 9.6.    Counting Votes and Recording Action of Meetings.  The vote upon any
resolution submitted to any meeting of Holders shall be by written ballots on which shall be subscribed the signatures of the Holders or of their representatives by proxy and the principal amounts and serial numbers of the outstanding Notes held or
represented by them. The permanent chairman of the meeting shall appoint two (2) inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their
verified written reports in triplicate of all votes cast at the meeting. A record, at least in triplicate, of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the
original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided
in Section 9.2 hereof and, if applicable, Section 9.4 hereof. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one (1) such copy shall be delivered to the Company and
the Guarantor, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

ARTICLE X 

MISCELLANEOUS PROVISIONS 

Section 10.1.  Ratification of Indenture.   Except as expressly modified or amended
hereby, the Indenture continues in full force and effect and is in all respects confirmed and preserved. 

Section 10.2.  Governing Law.  This Supplemental Indenture shall be governed by and construed
in accordance with the laws of the State of New York. This Supplemental Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended and shall, to the extent applicable, be governed by such provisions. 

Section 10.3.  Counterparts.  This Supplemental Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

  
 - 26 - 

 Section 10.4.  Calculations in Respect of the
Notes.    Except as explicitly specified otherwise herein, the Company will be responsible for making all calculations required under this Indenture and the Notes. The Company will make all these calculations in good faith
and, absent manifest error, the Company’s calculations will be final and binding on the Holders. The Company will provide a schedule of its calculations to the Trustee, and the Trustee is entitled to rely upon the accuracy of the Company’s
calculations without independent verification. The Trustee will forward the Company’s calculations to any Holder upon written request. 

Section 10.5.  Successors and Assigns.  This Supplemental Indenture shall be binding upon the
Company and each Guarantor, and their respective successors and assigns and inure to the benefit of the respective successors and assigns of the Trustee and the Holders. 

Section 10.6.  Time of the Essence.    Time is of the essence with regard to the
Company’s and the Guarantors’ performance of their respective obligations hereunder. 

Section 10.7.  Rights of Holders Limited.   Notwithstanding anything herein to the
contrary, the rights of Holders with respect to this Supplemental Indenture and the Guarantee shall be limited in the manner and to the extent the rights of Holders are limited under the Indenture with respect to the Indenture and the Securities.

 Section 10.8.  Rights and Duties of Trustee.  The rights and duties of the Trustee shall
be determined by the express provisions of the Base Indenture and, except as expressly set forth in this Supplemental Indenture, nothing in this Supplemental Indenture shall in any way modify or otherwise affect the Trustee’s rights and duties
thereunder. The Trustee makes no representation or warranty, express or implied, as to the validity of this Supplemental Indenture and, except insofar as relates to the validity hereof with respect to the Trustee specifically, the Trustee shall not
be liable in connection therewith. The Trustee makes no representation or warranty, express or implied, as to the accuracy or completeness of any information contained in any offering or disclosure document related to the sale of the Securities,
except for such information that specifically pertains to the Trustee itself, or any information incorporated therein by reference as it relates specifically to the Trustee. If and when the Trustee shall be or become a creditor of the Company (or
any other obligor upon the Notes), excluding any creditor relationship listed in TIA Section 311(b), the Trustee shall be subject to the provisions of the TIA regarding the collection of claims against the Company (or any such other obligor).
If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and the
Indenture. 
 Section 10.9.  Notices.  Any notice or communication by the Company, the
Guarantor or the Trustee to the other, or by a Holder of the Notes to the Company, the Guarantor or the Trustee, is duly given if in writing and delivered in person, sent electronically in PDF format or mailed by first-class mail: 

if to the Company or the Guarantor: 

Excel Trust, L.P. 

17140 Bernardo Center Drive, Suite 300 

  
 - 27 - 

 San Diego, California 92128 

Attention:  General Counsel 

Telephone:  (858) 613-1800 

Facsimile:  (858) 487-9890 

if to the Trustee: 

Wells Fargo Bank, National Association 

333 S. Grand Avenue, Fifth Floor, Suite 5A 

MAC E2064-05A 

Los Angeles, California 90071 

Facsimile: (213) 253-7598 

Attention: Corporate Trust Services – Administrator for Excel Trust, L.P. 

The Company, the Guarantor or the Trustee by written notice to the other may designate additional or different addresses for
subsequent notices or communications. 
 Except as otherwise provided in the Indenture, any notice or communication to a
Holder of the Notes shall be mailed by first-class mail to his address shown on the register kept by the Registrar, provided that notices given to Holders holding Notes in book-entry form may be given through the facilities of the Depository
or any successor depository. Failure to mail a notice or communication to a Holder of the Notes or any defect in it shall not affect its sufficiency with respect to other Holders of the Notes or any other Series. 

If a notice or communication is mailed or published in the manner provided above, within the time prescribed, it is duly
given, whether or not the Securityholder receives it. If a notice or communication is delivered in person, by courier, telexed or by facsimile transmission (with confirmation of receipt) within the time prescribed, it is duly given. 

If the Company or the Guarantor mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent
at the same time. 
 Section 10.10. Headings, etc.    The headings of the Articles and
Sections of this Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 10.11. Conflicts.    In the event of any conflict between the terms of this
Supplemental Indenture and the terms of the Indenture, the terms of this Supplemental Indenture shall control. 

Section 10.12. Trust Indenture Act Controls.   If any provision of this Supplemental Indenture
limits, qualifies, or conflicts with another provision which is required or deemed to be included in this Supplemental Indenture by the TIA, such required or deemed provision shall control. 

[Signatures on Next Page] 

  
 - 28 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to
be duly executed by their respective officers hereunto duly authorized, all as of the day and year first written above. 
  

					
	EXCEL TRUST, L.P., as Issuer
	By:  Excel Trust, Inc., its sole general partner    
			
	By:	 	 /s/ James Y. Nakagawa
	 	
	Name: James Y. Nakagawa	 	
	Title: Chief Financial Officer	 	
	 Address: 17140 Bernando Center Dr., Suite 300
San Diego, California 92128
	 	
	
	EXCEL TRUST, INC., as Guarantor
			
	By:	 	 /s/ James Y. Nakagawa
	 	
	Name: James Y. Nakagawa	 	
	Title: Chief Financial Officer	 	
	 Address: 17140 Bernando Center Dr., Suite 300
San Diego, California 92128
	 	
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
			
	By:	 	 /s/ Michael Tu
	 	
	Name: Michael Tu	 	
	Title: Assistant Vice President	 	

  
 [Signature Page to
Supplemental Indenture] 

 EXHIBIT A 

THIS GLOBAL NOTE IS HELD BY THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 3.12 OF THE SUPPLEMENTAL INDENTURE,
(2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 3.12 OF THE SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE BASE INDENTURE AND
(4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS
A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK 10041) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

  
 A-1 

 EXCEL TRUST, L.P. 

4.625% SENIOR NOTES DUE 2024 
 CUSIP
No.:  30068DAA5 
 ISIN:  US30068DAA54 

             $250,000,000 

Excel Trust, L.P., a Delaware limited partnership (herein called the “Company,” which term includes any
successor entity under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to Cede & Co., or its registered assigns, the principal sum of TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000), or such
lesser amount as is set forth in the Schedule of Exchanges of Interests in the Global Note on the other side of this Note, on May 15, 2024 at the office or agency of the Company maintained for that purpose in accordance with the terms of the
Indenture, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest, semi-annually on
May 15 and November 15 of each year, commencing November 15, 2014, on said principal sum at said office or agency, in like coin or currency, at the rate per annum of 4.625%, from the May 15 or November 15, as the case
may be, next preceding the date of this Note to which interest has been paid or duly provided for, unless no interest has been paid or duly provided for on the Notes, in which case from November 15, 2014 until payment of said principal sum has
been made or duly provided for. The Company shall pay interest to Holders of record of the Notes on the May 1 or November 1 preceding the applicable May 15 or November 15 interest payment date, respectively, in accordance with
the terms of the Indenture. The Company shall pay interest (i) on any Notes in certificated form by wire transfer of immediately available funds to the account specified by the Holder thereof in writing, or if no such account is specified, by
mailing a check to each such Holder’s registered address, or (ii) on any Global Note by wire transfer of immediately available funds to the account of the Depository or its nominee. 

Reference is made to the further provisions of this Note set forth on the reverse hereof and the Indenture governing this
Note. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This
Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed manually by the Trustee or a duly authorized authenticating agent under the Indenture. 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 

 

					
	EXCEL TRUST, L.P.
		
	By:  	 	Excel Trust, Inc.
		 	Its Sole General Partner
			
		 	By:  	 	  

		 		 	Name:
		 		 	Title:

 This is one of the Notes described in the within-named Indenture. 

Dated:  May 12, 2014 
  

					
	Wells Fargo Bank, National Association,
	as Trustee
			
	By:  	 	  
	 	
		 	Authorized Signatory	 	

  
 A-3 

 [FORM OF REVERSE SIDE OF NOTE] 

Excel Trust, L.P. 

4.625% SENIOR NOTES DUE 2024 

This Note is one of a duly authorized issue of Securities of the Company, designated as its 4.625% Senior Notes due 2024
(herein called the “Notes”), issued under and pursuant to an Indenture dated as of May 12, 2014 (herein called the “Base Indenture”), by and among the Company, the Guarantor and Wells Fargo Bank, National
Association, as trustee (herein called the “Trustee”), as supplemented with respect to the Notes by the Supplemental Indenture, dated as of May 12, 2014, by and among the Company, the Guarantor and the Trustee (herein called
the “Supplemental Indenture,” and together with the Base Indenture, the “Indenture”), to which Indenture and any indentures supplemental thereto reference is hereby made for a description of the rights, limitations
of rights, obligations, duties and immunities thereunder of the Trustee, the Company, the Guarantor and the Holders of the Notes. Capitalized terms used but not otherwise defined in this Note shall have the respective meanings ascribed thereto in
the Indenture. 
 If an Event of Default (other than an Event of Default specified in Sections 7.1(e), 7.1(f) and
7.1(g) of the Supplemental Indenture) occurs and is continuing, the principal of, and any premium and accrued and unpaid interest on, the Notes may be declared to be due and payable by either the Trustee or the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding, and, upon said declaration the same shall be immediately due and payable. If an Event of Default specified in Sections 7.1(e), 7.1(f) and 7.1(g) of the Supplemental Indenture occurs, the principal
of, and any premium and accrued and unpaid interest on, the Notes shall be immediately and automatically due and payable without necessity of further action. 

The Indenture contains provisions permitting the Company and the Trustee, with the consent of the Holders of not less than a
majority in aggregate principal amount of the Notes at the time outstanding, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture
or modifying in any manner the rights of the Holders of the Notes, subject to exceptions set forth in Section 9.2 of the Base Indenture. Subject to the provisions of the Indenture, the Holders of not less than a majority in aggregate principal
amount of the Notes at the time outstanding may, on behalf of the Holders of all of the Notes, waive any past Default or Event of Default, subject to exceptions set forth in the Indenture. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall impair, as among the Company and
the Holder of the Notes, the obligation of the Company, which is absolute and unconditional, to pay the principal of, and any premium and interest on, this Note at the place, at the respective times, at the rate and in the coin or currency
prescribed herein and in the Indenture. 
 Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. 

  
 A-4 

 The Notes are issuable in fully registered book-entry form, without coupons, in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. At the office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, without payment of any
service charge but with payment of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in connection with any registration or exchange of Notes, Notes may be exchanged for a like aggregate principal amount
of Notes of any other authorized denominations. 
 The Company shall have the right to redeem the Notes under certain
circumstances as set forth in Article IV of the Supplemental Indenture. 
 The Notes are not subject to redemption through
the operation of any sinking fund. 
 Except as expressly provided in Article V of the Supplemental Indenture, no recourse
for the payment of the principal of, or any premium or interest on, this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any
supplemental indenture or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, limited partner, member, manager, employee, agent, officer, director or subsidiary, as
such, past, present or future, of the Guarantor, the Company or any of the Company’s Subsidiaries or of any successor thereto, either directly or through the Guarantor, the Company or any of the Company’s subsidiaries or of any successor
thereto, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of,
and as consideration for, the execution of the Indenture and the issue of this Note. 

  
 A-5 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:  	 	  

		 	(Insert assignee’s legal name)
	
	  

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

	(Print or type assignee’s name, address and zip code)

  

			
	and irrevocably appoint	 	  

 to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

 

			
	Date:	 	  

  

					
		 	Your Signature:	  	  

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

  

					
	Signature Guarantee:*	  	  
	  	

  
  

 
  

	* 	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-6 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

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

									
	Date of
     Exchange     	 	Amount of
decrease in
 principal amount 
at maturity of
this Global Note	 	Amount of
increase in
 principal amount 
at maturity of
this Global Note	 	 Principal amount 
at maturity of
this Global Note
following such
decrease (or
increase)	 	    Signature of    
authorized
signatory of
Trustee or
Custodian
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

  
 A-7 

 EXHIBIT B 

NOTATION OF GUARANTEE 

The Guarantor listed below (hereinafter referred to as the “Guarantor,” which term includes any successors or
assigns under the Indenture, dated as of May 12, 2014, by and among the Guarantor, Excel Trust, L.P. (the “Company”) and Wells Fargo Bank, National Association, as trustee (the “Base Indenture”), as
supplemented with respect to the Notes (as defined below) by the Supplemental Indenture, dated as of May 12, 2014 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), has
fully, unconditionally and absolutely guaranteed on a senior basis the Guarantee Obligations (as defined in Section 5.1 of the Supplemental Indenture), which include (i) the due and punctual payment of the principal of, and any premium and
interest on, the $250,000,000 of 4.625% Senior Notes due 2024 (the “Notes”) to which this notation is affixed, whether at maturity, by acceleration, call for redemption or otherwise, the due and punctual payment of interest on the
overdue principal of, and any premium and (to the extent permitted by law) interest on, the Notes, and the due and punctual performance of all other obligations of the Company, to the Holders of the Notes or the Trustee all in accordance with the
terms set forth in Article V of the Supplemental Indenture, and (ii) in case of any extension of time of payment or renewal of any Notes or any such other obligations, that the same shall be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at maturity, by acceleration, call for redemption or otherwise. 

The obligations of such Guarantor to the Holders of Notes to which this notation is affixed and to the Trustee pursuant to the
Guarantee and the Indenture are expressly set forth in Article V of the Supplemental Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

No past, present or future director, officer, employee, incorporator or stockholder (direct or indirect) of the Guarantor (or
any such successor entity), as such, shall have any liability for any obligations of the Guarantor under this Guarantee or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. 

The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or
bankruptcy of the Company, any right to require a proceeding first against the Company, the benefit of discussion, protest or notice with respect to the Notes and all demands whatsoever. 

This is a continuing Guarantee and shall remain in full force and effect and shall be binding upon the Guarantor and its
successors and assigns until full and final payment of all of the Company’s obligations under the Notes and Indenture or until legally discharged in accordance with the Indenture and shall inure to the benefit of the successors and assigns of
the Trustee and the Holders of the Notes, and, in the event of any transfer or assignment of rights by any Holder of the Notes or the Trustee, the rights and privileges herein conferred upon that party shall automatically extend to and be vested in
such transferee or assignee, all subject to the terms and conditions hereof. This is a Guarantee of payment and performance and not of collectability. 

  
 B-1 

 This Guarantee shall not be valid or obligatory for any purpose until the
certificate of authentication on the Note upon which this Guarantee is noted shall have been executed by the Trustee under the Indenture by the manual or facsimile signature of one of its authorized officers. 

The obligations of the Guarantor under this Guarantee shall be limited to the extent necessary to ensure that it does not
constitute a fraudulent conveyance under applicable law. 
 THE TERMS OF ARTICLE V OF THE SUPPLEMENTAL INDENTURE ARE
INCORPORATED HEREIN BY REFERENCE. 
 Capitalized terms used herein have the same meanings given in the Indenture unless
otherwise indicated. 
  

									
		 		 	EXCEL TRUST, INC.	 	
					
	Dated: May 12, 2014	 		 		 		 	
					
		 		 	By:	 	  
	 	
		 		 		 	Name:	 	
		 		 		 	Its:	 	

  
 B-2EX-10.9

 Exhibit 10.9 

Form of 
 XPEDX HOLDING
COMPANY 
 2014 OMNIBUS INCENTIVE PLAN 

ARTICLE I 
 Purpose; Eligibility

 Section 1.1 General Purpose. This xpedx Holding Company 2014 Omnibus Incentive Plan, as may be amended from time to time
(the “Plan”), has the following purposes: (1) to attract and retain employees, consultants and directors who will contribute to the long-range success of xpedx Holding Company (the “Company”) and its
Subsidiaries (as defined herein); (2) to provide incentives that align the interests of employees, consultants and directors of the Company and its Subsidiaries with those of the shareholders of the Company; and (3) to promote the success
of the Company’s business. 
 Section 1.2 Eligible Award Recipients. The persons eligible to receive Awards are the Service
Providers of the Company and its Subsidiaries and such other individuals designated by the Committee who are reasonably expected to become Service Providers after the receipt of Awards. 

Section 1.3 Available Awards. Awards that may be granted under the Plan include Options, Stock Purchase Rights, Restricted Stock,
Restricted Stock Units, Performance Shares, Performance Units, SARs, Dividend Equivalents, Deferred Share Units or other Stock-Based Awards. 

ARTICLE II 
 Definitions

 Whenever the following terms are used in this Plan, they shall have the meanings specified below unless the context clearly indicates
to the contrary. The singular pronoun shall include the plural where the context so indicates. 
 “Administrator” shall
mean the Board or any committee of the Board designated by the Board to administer the Plan. To the extent Section 162(m) of the Code is applicable to the Company and the Plan, and for those Awards intended to qualify as performance-based
compensation under Section 162(m) of the Code, the Administrator shall mean the Compensation and Leadership Development Committee of the Board (the “Compensation Committee”) or such other committee or subcommittee of the Board
or the Compensation Committee as the Board or the Compensation Committee shall designate, consisting of two or more members, each of whom is a “non-employee director” within the meaning of
Rule 16b-3, as promulgated under the Exchange Act, and an “outside director” within the meaning of Section 162(m) of the Code and Treasury Regulations Section 1.162-27(e)(3) or any
successor to such statute and regulation. 
 “Affiliate” shall mean, with respect to any Person, any other Person directly
or indirectly controlling, controlled by or under common control with, such Person where “control” shall have the meaning given such term under Rule 405 of the Securities Act. 

“Alternative Award” shall have the meaning set forth in Section 14.1. 

 “Applicable Laws” shall mean the requirements relating to the administration of
stock option, restricted stock, restricted stock unit and other equity-based compensation plans under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which any shares of Company
Common Stock are listed or quoted and the applicable laws of any other country or jurisdiction where Awards are granted under the Plan. 

“Award” shall mean any right granted under the Plan, including an Option, Stock Purchase Right, Restricted Stock, Restricted
Stock Unit, Performance Share, Performance Unit, SAR, Dividend Equivalent, Deferred Share Unit or other Stock-Based Award granted to a Participant pursuant to the Plan, including an Award combining two or more types of Awards into a single grant.

 “Award Agreement” shall mean any written agreement, contract or other instrument or document evidencing the terms and
conditions of an individual Award granted under the Plan, including the rights and obligations of the Participant upon the issuance of Company Common Stock subject to an Award. The Administrator may provide for the use of electronic, internet or
other non-paper Award Agreements, and the use of electronic, internet or other non-paper means for the Participant’s acceptance of, or actions under, an Award Agreement unless otherwise expressly specified herein. In the event of any
inconsistency or conflict between the express terms of the Plan and the express terms of an Award Agreement, the express terms of the Plan shall govern. 

“Base Price” shall have the meaning set forth below in the definition of Stock Appreciation Right. 

“Board” shall mean the Board of Directors of the Company, as constituted at any time. 

“Cause” shall, as to any Award granted to a Participant, have the meaning provided in the Award Agreement or the
Participant’s employment agreement with the Company or a Subsidiary (including, without limitation, offer letters), or, if there is no such definition in any such agreement, “Cause” shall include, but is not limited to, misconduct or
other activity detrimental to the business interest or reputation of the Company or continued unsatisfactory job performance without making reasonable efforts to improve. Examples include insubordination, protracted or repeated absence from work
without permission, illegal activity, disorderly conduct, etc. A termination for Cause shall be deemed to include a determination by the Administrator following a Participant’s termination of employment that circumstances existing prior to such
termination would have entitled the Company or one of its Subsidiaries to have terminated such Participant’s employment for Cause. 

“Change in Control” shall mean the first to occur of any of the following events after the Effective Date: 

(a)    the acquisition, directly or indirectly, by any Person (which, for purposes of this definition,
shall include a “group” (as defined in Section 13(d) of the Exchange Act)) of beneficial ownership of more than      percent (    %) of the combined voting power of the Company’s then
outstanding voting securities, other than any such acquisition by the Company, any of its Subsidiaries, any employee benefit plan of the Company or any of its Subsidiaries or any Affiliates of the foregoing; 

(b)    the merger, consolidation or other similar transaction involving the Company, as a result of which
Persons who were holders of voting securities of the Company immediately prior to such merger, consolidation, or other similar transaction do not immediately thereafter beneficially own, directly or indirectly, more than     
percent (    %) of the combined voting power entitled to vote generally in the election of directors of the merged or consolidated company; 

(c)    within any 24-month period, the Incumbent Directors shall cease to constitute at least a majority of
the Board; 
 (d)    the approval by the Company’s shareholders of the liquidation or dissolution of
the Company other than a liquidation of the Company into any Subsidiary or a liquidation as a result of which Persons who were holders of voting securities of the Company immediately prior to such liquidation own, directly or indirectly, more than
     percent (    %) of the combined voting power entitled to vote generally in the election of directors of the entity that holds substantially all of the assets of the Company following such event; or 

(e)    the sale, transfer or other disposition of all or substantially all of the assets of the Company to
one or more Persons that are not, immediately prior to such sale, transfer or other disposition, Affiliates of the Company; 
 in each case,
provided that, as to Awards subject to Section 409A of the Code, such event also constitutes a “change in control” within the meaning of Section 409A of the Code. In addition, notwithstanding the foregoing, a “Change
in Control” shall not be deemed to occur if the Company files for bankruptcy, liquidation or reorganization under the United States Bankruptcy Code or as a result of any restructuring that occurs as a result of any such. 

  
 2 

 “Change in Control Price” shall mean the highest price per share of Company
Common Stock offered in conjunction with any transaction resulting in a Change in Control. If any part of the offered price is payable other than in cash, the value of the non-cash portion of the Change in Control Price shall be determined in good
faith by the Administrator as constituted immediately prior to the Change in Control. 
 “Code” shall mean the Internal
Revenue Code of 1986, as amended. 
 “Company” shall mean xpedx Holding Company, a Delaware corporation, and any successor
thereto. 
 “Company Common Stock” shall mean the common stock, par value $0.01 per share, of the Company and such other
stock or securities into which such common stock is hereafter converted or for which such common stock is exchanged. 

“Compensation Committee” shall have the meaning set forth above in the definition of Administrator. 

“Competitive Activity” shall mean a Participant’s material breach of restrictive covenants relating to noncompetition,
nonsolicitation (of customers or employees) or preservation of 

  
 3 

 
confidential information, or other covenants having the same or similar scope, included in an Award Agreement or other agreement to which the Participant and the Company or any of its
Subsidiaries is a party. 
 “Consultant” shall mean any natural person who is engaged by the Company or any of its
Subsidiaries to render consulting or advisory services to such entity as an independent contractor. 
 “Corporate Event”
shall mean, as determined by the Administrator in its sole discretion, any transaction or event described in Section 4.3(a) or any unusual or nonrecurring transaction or event affecting the Company, any Subsidiary of the Company, or the
financial statements of the Company or any of its Subsidiaries, or changes in applicable laws, regulations or accounting principles (including, without limitation, a recapitalization of the Company). 

“Deferred Share Unit” shall mean a unit credited to a Participant’s account in the books of the Company under Article X
which represents the right to receive one Share of Company Common Stock or cash equal to the Fair Market Value thereof on settlement of the account. 

“Director” shall mean a member of the Board or a member of the board of directors of any Subsidiary of the Company. 

“Disability” shall mean (x) for Awards that are not subject to Section 409A of the Code,
“disability” as such term is defined in the long-term disability insurance plan or program of the Company or any Subsidiary then covering the Participant and (y) for Awards that are subject to Section 409A of the Code,
“disability” shall have the meaning set forth in Section 409A(a)(2)(c) of the Code; provided that with respect to Awards that are not subject to Section 409A, in the case of any Participant who, as of the date of
determination, is a party to an effective services, severance, consulting or employment agreement with the Company or any Subsidiary of the Company that employs such individual (including, without limitation, offer letters), “Disability”
shall have the meaning, if any, specified in such agreement. 
 “Dividend Equivalent” shall mean the right to receive
payments, in cash or in Shares, based on dividends paid with respect to Shares. 
 “Effective Date” shall mean the date as
of which this Plan is adopted by the Board. 
 “Eligible Representative” for a Participant shall mean such
Participant’s personal representative or such other person as is empowered under the deceased Participant’s will or the then applicable laws of descent and distribution to represent the Participant hereunder. 

“Employee” shall mean any individual classified as an employee by the Company or one of its Subsidiaries, whether such
employee is so employed at the time this Plan is adopted or becomes so employed subsequent to the adoption of this Plan, including any person to whom an offer of employment has been extended (except that any Award granted to such person shall be
conditioned on his or her commencement of service). A person shall not cease to be an Employee in the case of (a) any leave of absence approved by the Company or (b) transfers between locations of the Company or between the
Company, any of its Subsidiaries, or any successor to the foregoing. For purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or

  
 4 

 
contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, the employment relationship shall be deemed to have terminated on the first day
immediately following such three (3)-month period, and such Incentive Stock Option held by the Optionee shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a
Non-qualified Stock Option on the first day immediately following a three (3)-month period from the date the employment relationship is deemed terminated. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

“Executive Officer” shall mean each person who is an officer of the Company or any Subsidiary and who is subject to the
reporting requirements under Section 16(a) of the Exchange Act. 
 “Fair Market Value” of a Share as of any date of
determination shall be: 
 (a) If the Company Common Stock is listed on any established stock exchange or a national market
system, then the closing price on such date per Share as reported as quoted on such stock exchange or system shall be the Fair Market Value for the date of determination; 

(b) If there are no transactions in the Company Common Stock that are available to the Company on any date of determination
pursuant to clause (a) but transactions are available to the Company as of the immediately preceding trading date, then the Fair Market Value determined as of the immediately preceding trading date shall be the Fair Market Value for the date of
determination; or 
 (c) If neither clause (a) nor clause (b) shall apply on any date of determination, then the
Fair Market Value shall be determined in good faith by the Administrator with reference to (x) the most recent valuation of the Company Common Stock performed by an independent valuation consultant or appraiser of nationally recognized
standing selected by the Administrator, if any, (y) sales prices of securities issued to investors in any recent arm’s length transactions, and (z) any other factors determined to be relevant by the Administrator, and
such determination shall be conclusive and binding for all purposes. 
 “Good Reason” shall, in the case of any Participant
who, as of the date of determination, is a party to an employment, severance or similar agreement with the Company or any Subsidiary of the Company that employs such individual, have the meaning, if any, specified in such agreement (including,
without limitation, offer letters), provided, however that if there is no such employment, severance or similar agreement in which such term is defined, “Good Reason” shall have the meaning, if any, given such term in the applicable Award
Agreement. For the avoidance of doubt, if a Participant is not a party to any such an agreement defining “Good Reason” or its substantial equivalent, the “Good Reason” definition shall not apply to such Participant. 

“Grant Date” shall mean the date on which the Administrator adopts a resolution, or takes other appropriate action, expressly
granting an Award to a Participant that specifies the key terms and conditions of the Award or, if a later date is set forth in such resolution, then such date as is set forth in such resolution. 

  
 5 

 “Incentive Stock Option” shall mean an Option which qualifies under
Section 422 of the Code and is expressly designated as an Incentive Stock Option in the Award Agreement. 
 “Incumbent
Directors” shall mean individuals who, on the Effective Date, constitute the Board; provided that any individual becoming a Director subsequent to the Effective Date whose election or nomination for election to the Board was approved
by a vote of at least two-thirds of the Incumbent Directors then on the Board (either by specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for Director without objection to such nomination)
shall be an Incumbent Director. No individual initially elected as a director of the Company as a result of an actual or threatened election contest with respect to the Directors or as a result of any other actual or threatened solicitation of
proxies by or on behalf of any person other than the Board shall be an Incumbent Director. 
 “normal retirement age” shall
have the meaning set forth in the applicable Award Agreement or, if not defined in the Award Agreement, pursuant to the customary policies of the Company. 

“Non-qualified Stock Option” shall mean an Option which is not an Incentive Stock Option. 

“Non-U.S. Awards” shall have the meaning set forth in Section 3.5. 

“Option” shall mean an option to purchase Company Common Stock granted under the Plan. The term “Option” includes
both an Incentive Stock Option and a Non-qualified Stock Option. 
 “Option Price” shall have the meaning set forth in
Section 6.3. 
 “Optionee” shall mean a Participant to whom an Option or SAR is granted under the Plan. 

“Participant” shall mean any Service Provider who has been granted an Award pursuant to the Plan or, if applicable, such
other person who holds an outstanding Award. 
 “Performance Award” shall mean Performance Shares, Performance Units and
all other Awards that vest (in whole or in part) upon the achievement of specified Performance Goals. 
 “Performance
Cycle” shall mean the period of time selected by the Administrator during which performance is measured for the purpose of determining the extent to which a Performance Award has been earned or vested. 

“Performance Goals” shall mean the objectives established by the Administrator for a Performance Cycle pursuant to
Section 9.5 for the purpose of determining the extent to which a Performance Award has been earned or vested. 
 “Performance
Share” shall mean an Award granted pursuant to Article IX of the Plan of a contractual right to receive a number of Shares (or the cash equivalent thereof) upon the achievement, in whole or in part, of the applicable Performance Goals. 

  
 6 

 “Performance Unit” shall mean a U.S. Dollar-denominated unit (or a unit
denominated in the Participant’s local currency) granted pursuant to Article IX of the Plan, payable in cash or in Shares upon the achievement, in whole or in part, of the applicable Performance Goals. 

“Person” shall mean an individual, partnership, corporation, limited liability company, business trust, joint stock company,
trust, unincorporated association, joint venture, governmental authority or any other entity of whatever nature. 
 “Plan”
shall have the meaning set forth in Section 1.1. 
 “Replacement Awards” shall mean Shares issued in assumption of, or
in substitution for, any outstanding awards of any entity acquired in any form or combination by the Company or any of its Subsidiaries. 

“Restricted Stock” shall mean an Award granted pursuant to Section 8.1. 

“Restricted Stock Unit” shall mean an Award granted pursuant to Section 8.2. 

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

“Service Provider” shall mean an Employee, Consultant or Director. 

“Share” shall mean a share of Company Common Stock. 

“Stock Appreciation Right” or “SAR” shall mean the right to receive a payment from the Company in cash
and/or Shares equal to the product of (i) the excess, if any, of the Fair Market Value of one Share on the exercise date over a specified price (the “Base Price”) fixed by the Administrator on the Grant Date (which
specified price shall not be less than the Fair Market Value of one Share on the Grant Date), multiplied by (ii) a stated number of Shares. 

“Stock-Based Award” shall have the meaning set forth in Section 11.1. 

“Stock Purchase Right” shall mean an Award granted pursuant to Section 11.2. 

“Subplans” shall have the meaning set forth in Section 3.5. 

“Subsidiary” shall mean any entity that is directly or indirectly controlled by the Company or any entity in which the
Company directly or indirectly has at least a 50% equity interest, provided that, to the extent required under Section 422 of the Code when granting an Incentive Stock Option, Subsidiary shall mean any corporation in an unbroken chain of
corporations beginning with such entity if each of the corporations other than the last corporation in the unbroken chain then owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other
corporations in such chain. 
 “Termination of employment,” “termination of service” and any similar term
or terms shall mean, with respect to a Director who is not an Employee of the Company or any of its Subsidiaries, the date upon which such Director ceases to be a member of the Board, with respect to a Consultant who is not an Employee of the
Company or any of its Subsidiaries, the date upon 

  
 7 

 
which such Consultant ceases to provide consulting or advisory services to the Company or any of its Subsidiaries and, with respect to an Employee, the date the Participant ceases to be an
Employee; provided that with respect to any Award subject to Section 409A of the Code, such terms shall mean “separation from service,” as defined in Section 409A of the Code and the rules, regulations and guidance
promulgated thereunder. A “termination of employment” or “termination of service” shall not occur if a Director, immediately upon ceasing to be a member of the Board, becomes an Employee of the Company or any of its Subsidiaries
or if an Employee, immediately upon termination of employment with the Company or any of its Subsidiaries, becomes or continues to serve as a member of the Board. 

“Withholding Taxes” shall mean the statutory minimum of any federal, state, local or foreign income taxes, withholding taxes
or employment taxes required to be withheld under Applicable Law. 
 ARTICLE III 

Administration 

Section 3.1 Administrator. The Plan shall be administered by the Administrator, which Administrator, unless otherwise determined
by the Board, shall be constituted to comply with Applicable Laws, including, without limitation, Section 16 of the Exchange Act and Section 162(m) of the Code. 

Section 3.2 Powers of the Administrator. Subject to the provisions of the Plan and, in the case of a committee, the specific
duties delegated by the Board to such Administrator, and subject to the approval of any relevant authorities, the Administrator shall have the authority in its discretion to: 

(a) determine the Fair Market Value; 

(b) select the Service Providers to whom Awards may from time to time be granted hereunder; 

(c) determine the type or types of Awards to be granted to each Participant; 

(d) determine the number of Awards to be granted and the number of Shares to which an Award will relate; 

(e) determine when Awards are to be granted under the Plan and the applicable Grant Date; 

(f) determine the terms and conditions of any Awards granted hereunder (including, without limitation, the exercise price, the
vesting provisions, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions and any restriction or limitation regarding any Awards or the Company
Common Stock relating thereto) based in each case on such factors as the Administrator, in its sole discretion, shall determine; 

  
 8 

 (g) determine all matters and questions related to the termination of service of
a Service Provider with respect to any Award granted to such Service Provider hereunder, including, but not by way of limitation of, all questions of whether a particular Service Provider has taken a leave of absence, all questions of whether a
leave of absence taken by a particular Service Provider constitutes a termination of service, and all questions of whether a termination of service of a particular Service Provider resulted from discharge for Cause; 

(h) approve forms of agreement for use under the Plan, which need not be identical for each Service Provider; 

(i) prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to
Subplans established for the purpose of satisfying applicable foreign laws; 
 (j) determine whether, to what extent, and
pursuant to what circumstances an Award may be settled in, or the exercise or purchase price of an Award may be paid in, cash, Company Common Stock, other Awards, or other property, or an Award may be canceled, forfeited or surrendered; 

(k) suspend or accelerate the vesting of any Award granted under the Plan; 

(l) amend any outstanding Awards as set forth in Section 15.2 hereof; 

(m) construe and interpret the terms of the Plan and Awards granted pursuant to the Plan and apply its provisions; 

(n) determine the effect of a Corporate Event under Section 4.3; 

(o) make decisions with respect to outstanding Awards that may become necessary upon a change in corporate control or an event
that triggers anti-dilution adjustments; 
 (p) authorize any person to execute, on behalf of the Company, any instrument
required to carry out the purposes of the Plan; 
 (q) interpret, administer, reconcile any inconsistency in, correct any
defect in and/or supply any omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; and 

(r) make all other decisions and determinations that may be required pursuant to the Plan or as the Administrator deems
necessary or advisable to administer the Plan. 
 Section 3.3 Delegation by the Administrator. The Administrator may delegate,
subject to such terms or conditions or guidelines as it shall determine, to any officer or group of officers, or Director or group of Directors, of the Company or its Affiliates any portion of its authority and powers under the Plan with respect to
Participants who are not Executive Officers or non-employee Directors of the Board; provided that any delegation to one or more officers of 

  
 9 

 
the Company shall be subject to and comply with Section 157(c) of the Delaware General Corporation Law (or successor provision). In addition, (i) with respect to any Award
intended to qualify as “performance-based” compensation under Section 162(m) of the Code, the Administrator shall mean the Compensation Committee or such other committee or subcommittee of the Board or the Compensation Committee as
the Board or the Compensation Committee shall designate, consisting solely of two or more members, each of whom is an “outside director” within the meaning of Section 162(m) of the Code and Treasury Regulations
Section 1.162-27(e)(3) or any successor to such statute and regulation and (ii) with respect to any Award intended to qualify for the exemption contained in Rule 16b-3 promulgated under
the Exchange Act, the Administrator shall consist of solely two or more “non-employee directors” within the meaning of such rule, or, in the alternative, the entire Board. 

Section 3.4 Compensation, Professional Assistance, Administrator Decisions Final; Indemnification. The Administrator shall receive
no compensation for its services hereunder except as may be determined by the Board. All expenses and liabilities incurred by the Administrator in connection with the administration of the Plan shall be borne by the Company. The Administrator may,
in its discretion, elect to engage the services of attorneys, consultants, accountants, appraisers, brokers or other persons. The Administrator, the Company and its officers and Directors shall be entitled to rely upon the advice, opinions or
valuations of any such persons. All actions taken and all interpretations, decisions and determinations made by the Administrator shall be final, binding and conclusive upon all Participants, the Company and all other interested persons. The
Administrator’s determinations under the Plan need not be uniform and may be made by the Administrator selectively among persons who receive, or are eligible to receive, Awards under the Plan, whether or not such persons are similarly situated.
The Administrator (and its members) shall not be personally liable for any action, determination or interpretation made with respect to the Plan or the Awards, and the Administrator (and its members), in addition to such other rights of
indemnification as they may have as Directors or members of the Administrator, and to the extent allowed by Applicable Laws, shall be indemnified by the Company against the reasonable expenses, including attorney’s fees, actually incurred in
connection with any action, suit or proceeding or in connection with any appeal therein, to which the Administrator (and its members) may be party by reason of any such action, determination or interpretation. 

Section 3.5 Participants Based Outside the United States. To conform with the provisions of local laws and regulations, or with
local compensation practices and policies, in foreign countries in which the Company or any of its Subsidiaries or Affiliates operate, but subject to the limitations set forth herein regarding the maximum number of shares issuable hereunder and the
maximum Award to any single Participant, the Administrator may (i) modify the terms and conditions of Awards granted to Participants employed or providing services outside the United States (“Non-U.S. Awards”),
(ii) establish subplans with such modifications as may be necessary or advisable under the circumstances (“Subplans”) and (iii) take any action which it deems advisable to obtain, comply with or otherwise
reflect any necessary governmental regulatory procedures, exemptions or approvals with respect to the Plan. The Administrator’s decision to grant Non-U.S. Awards or to establish Subplans is entirely voluntary, and at the complete discretion of
the Administrator. The Administrator may amend, modify or terminate any Subplans at any time, and such amendment, modification or termination may be made without prior notice to the Participants. The Company, Subsidiaries, Affiliates and members of

  
 10 

 
the Administrator shall not incur any liability of any kind to any Participant as a result of any change, amendment or termination of any Subplan at any time. The benefits and rights provided
under any Subplan or by any Non-U.S. Award (x) are wholly discretionary and, although provided by either the Company, a Subsidiary or Affiliate, do not constitute regular or periodic payments and (y) except as otherwise
required under Applicable Laws, are not to be considered part of the Participant’s salary or compensation under the Participant’s employment with the Participant’s local employer for purposes of calculating any severance, resignation,
redundancy or other end of service payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement benefits, or any other payments, benefits or rights of any kind. 

ARTICLE IV 
 Shares Subject to
Plan 
 Section 4.1 Shares Subject to Plan. 

(a) Subject to Section 4.3, the aggregate number of Shares which may be issued under this Plan is     , all of which
may be issued in the form of Incentive Stock Options under the Plan. The Shares issued under the Plan may be authorized but unissued, or reacquired Company Common Stock. No provision of this Plan shall be construed to require the Company to maintain
the Shares in certificated form. 
 (b) Upon the grant of an Award, the maximum number of Shares set forth in Section 4.1(a) shall be
reduced by the maximum number of Shares that are issued or may be issued pursuant to such Award. Upon the exercise, settlement or conversion of any Award or portion thereof, there shall again be available for grant under the Plan the number of
Shares subject to such Award or portion thereof minus the actual number of Shares issued in connection with such exercise, settlement or conversion. If any such Award or portion thereof is for any reason forfeited, canceled, expired or otherwise
terminated without the issuance of Shares, the Shares subject to such forfeited, canceled, expired or otherwise terminated Award or portion thereof shall again be available for grant under the Plan. If Shares are withheld from issuance with respect
to an Award by the Company in satisfaction of any tax withholding or similar obligations, such withheld Shares shall again be available for grant under the Plan. Awards which the Administrator reasonably determines will be settled in cash shall not
reduce the Plan maximum set forth in Section 4.1(a). Notwithstanding the foregoing, and except to the extent required by Applicable Law, Replacement Awards shall not be counted against Shares available for grant pursuant to this Plan. 

Section 4.2 Individual Award Limitations. Subject to Section 4.1(a) and Section 4.3, the following individual Award
limits shall apply to the extent Section 162(m) of the Code is applicable to the Company and the Plan, and for those Awards intended to qualify as performance-based compensation under Section 162(m) of the Code: 

(a) No Participant may be granted in any calendar year more than      Options, SARs or any other Award
based solely on the increase in value of the Shares from the Grant Date under the Plan. 

  
 11 

 (b) No Participant may be granted in any calendar year more than
     Performance Shares, shares of performance-based Restricted Stock, performance-based Restricted Stock Units or performance-based Dividend Equivalents under the Plan. 

(c) No Participant may be granted in any calendar year Performance Units or any other performance-based Award settled in cash
under the Plan with a value of more than US $     (or the equivalent of such amount denominated in the Participant’s local currency). 

Section 4.3 Changes in Company Common Stock; Disposition of Assets and Corporate Events. 

(a) If and to the extent necessary or appropriate to reflect any stock dividend, extraordinary dividend, stock split or share combination or
any recapitalization, reorganization, merger, consolidation, combination, exchange of shares, spin-off, liquidation or dissolution of the Company or other similar transaction affecting the Company Common Stock (each, a “Corporate
Event”), the Administrator shall adjust the number and type of shares available for issuance under the Plan, the maximum number and type of shares subject to all Awards, the maximum number and type of shares with respect to which any one
person may be granted Awards during any period and the number, class and Option Price (if applicable) or Base Price (if applicable) of any outstanding Award, and/or make such substitution, revision or other provisions or take such other actions with
respect to any outstanding Award or the holder or holders thereof, in each case as it determines to be equitable. Without limiting the generality of the foregoing sentence, in the event of any such Corporate Event, the Administrator shall have the
power to make such changes as it deems appropriate in (i) the number and type of shares or other securities covered by outstanding Awards, (ii) the prices specified therein (if applicable), (iii) the securities,
cash or other property to be received upon the exercise, settlement or conversion of such outstanding Awards or otherwise to be received in connection with such outstanding Awards and (iv) and any applicable Performance Goals. After any
adjustment made by the Administrator pursuant to this Section 4.3, the number of shares subject to each outstanding Award shall be rounded down to the nearest whole number. 

(b) Any adjustment of an Award pursuant to this Section 4.3 shall be effected in compliance with Section 422 and 409A of the Code to
the extent applicable. 
 Section 4.4 Award Agreement Provisions. The Administrator may include such further provisions and
limitations in any Award Agreement as it may deem equitable and in the best interests of the Company and its Subsidiaries. 

Section 4.5 Prohibition Against Repricing. Except to the extent (i) approved in advance by holders of a majority of
the Shares entitled to vote generally in the election of Directors or (ii) pursuant to Section 4.3 as a result of any Corporate Event, the Administrator shall not have the power or authority to reduce, whether through amendment or
otherwise, the Option Price of any outstanding of Options or Base Price of any outstanding SARs previously granted. 

  
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 ARTICLE V 

Granting of Options and SARs and Sale of Company Common Stock 

Section 5.1 Eligibility. Non-qualified Stock Options and SARs may be granted to Service Providers. Subject to Section 5.2,
Incentive Stock Options may only be granted to Employees. 
 Section 5.2 Qualification of Incentive Stock Options. No Employee
may be granted an Incentive Stock Option under the Plan if such Employee, at the time the Incentive Stock Option is granted, owns stock possessing more than ten (10) percent of the total combined voting power of all classes of stock of the
Company or any then existing Subsidiary of the Company or “parent corporation” (within the meaning of Section 424(e) of the Code) unless such Incentive Stock Option conforms to the applicable provisions of Section 422 of the
Code. 
 Section 5.3 Granting of Options and SARs to Service Providers. 

(a) Options and SARs. The Administrator may from time to time: 

(i) Select from among the Service Providers (including those to whom Options or SARs have been previously granted under the
Plan) such of them as in its opinion should be granted Options and/or SARs; 
 (ii) Determine the number of Shares to be
subject to such Options and/or SARs granted to such Service Provider, and determine whether such Options are to be Incentive Stock Options or Non-qualified Stock Options; and 

(iii) Determine the terms and conditions of such Options and SARs, consistent with the Plan. 

(b) SARs may be granted in tandem with Options or may be granted on a freestanding basis, not related to any Option. Unless otherwise
determined by the Administrator at the Grant Date or determined thereafter in a manner more favorable to the Participant, SARs granted in tandem with Options shall have substantially similar terms and conditions to such Options to the extent
applicable, or may be granted on a freestanding basis, not related to any Option. 
 (c) Upon the selection of a Service Provider to be
granted an Option or SAR under this Section 5.3, the Administrator shall issue, or shall instruct an authorized officer to issue, such Option or SAR and may impose such conditions on the grant of such Option or SAR as it deems appropriate.
Subject to Section 15.2 of the Plan, any Incentive Stock Option granted under the Plan may be modified by the Administrator, without the consent of the Optionee, even if such modification would result in the disqualification of such Option as
an “incentive stock option” under Section 422 of the Code. 

  
 13 

 ARTICLE VI 

Terms of Options and SARs 

Section 6.1 Award Agreement. Each Option and each SAR shall be evidenced by a written Award Agreement, which shall be executed by
the Optionee and an authorized officer and which shall contain such terms and conditions as the Administrator shall determine, consistent with the Plan. Award Agreements evidencing Incentive Stock Options shall contain such terms and conditions as
may be necessary to qualify such Options as “incentive stock options” under Section 422 of the Code. 
 Section 6.2
Exercisability and Vesting of Options and SARs. 
 (a) Each Option and SAR shall vest and become exercisable according to the terms
of the applicable Award Agreement; provided, however, that by a resolution adopted after an Option or SAR is granted the Administrator may, on such terms and conditions as it may determine to be appropriate, accelerate the time at
which such Option or SAR or any portion thereof may be exercised. 
 (b) Except as otherwise provided by the Administrator or in the
applicable Award Agreement, no portion of an Option or SAR which is unexercisable on the date that an Optionee incurs a termination of service as a Service Provider shall thereafter become exercisable. 

(c) The aggregate Fair Market Value (determined as of the Grant Date of the Option) of all Shares with respect to which Incentive Stock
Options are first exercisable by a Service Provider in any calendar year may not exceed $100,000 or such other limitation as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Stock Options are first
exercisable by a Participant in excess of such limitation, the excess shall be considered Non-qualified Stock Options. 
 (d) SARs granted
in tandem with an Option shall become vested and exercisable on the same date or dates as the Options with which such SARs are associated vest and become exercisable. SARs that are granted in tandem with an Option may only be exercised upon the
surrender of the right to exercise such Option for an equivalent number of Shares, and may be exercised only with respect to the Shares for which the related Option is then exercisable. 

Section 6.3 Option Price and Base Price. Excluding Replacement Awards, the per Share purchase price of the Shares subject to each
Option (the “Option Price”) and the Base Price of each SAR shall be set by the Administrator and shall be not less than 100% of the Fair Market Value of such Shares on the Grant Date of such Option or SAR. 

Section 6.4 Expiration of Options and SARs. No Option or SAR may be exercised after the first to occur of the following events:

 (a) The expiration of ten (10) years from the Grant Date of the Option or SAR; or 

(b) With respect to an Incentive Stock Option in the case of an Optionee owning (within the meaning of Section 424(d) of
the Code), at the time the Incentive 

  
 14 

 
Stock Option was granted, more than 10% of the total combined voting power of all classes of stock of the Company or any Subsidiary, the expiration of five (5) years from the date the
Incentive Stock Option was granted. 
 ARTICLE VII 

Exercise of Options and SARs 

Section 7.1 Person Eligible to Exercise. During the lifetime of the Optionee, only the Optionee may exercise an Option or SAR (or
any portion thereof) granted to him or her; provided, however, that the Optionee’s Eligible Representative may exercise his or her Option or SAR or portion thereof during the period of the Optionee’s Disability. After the
death of the Optionee, any exercisable portion of an Option or SAR may, prior to the time when such portion becomes unexercisable under the Plan or the applicable Award Agreement, be exercised by his or her Eligible Representative. 

Section 7.2 Partial Exercise. At any time and from time to time prior to the date on which the Option or SAR becomes unexercisable
under the Plan or the applicable Award Agreement, the exercisable portion of an Option or SAR may be exercised in whole or in part; provided, however, that the Company shall not be required to issue fractional Shares and the
Administrator may, by the terms of the Option or SAR, require any partial exercise to exceed a specified minimum number of Shares. 

Section 7.3 Manner of Exercise. Subject to any generally applicable conditions or procedures that may be imposed by the
Administrator, an exercisable Option or SAR, or any exercisable portion thereof, may be exercised solely by delivery to the Administrator or its designee of all of the following prior to the time when such Option or SAR or such portion becomes
unexercisable under the Plan or the applicable Award Agreement: 
 (a) Notice in writing signed by the Optionee or his or her
Eligible Representative, stating that such Option or SAR or portion thereof is being exercised, and specifically stating the number of Shares with respect to which the Option or SAR is being exercised (which form of notice shall be provided by the
Administrator upon request and may be electronic); 
 (b) (i) With respect to the exercise of any Option, full payment (in cash (through wire
transfer only) or by personal, certified, or bank cashier check) of the aggregate Option Price of the Shares with respect to which such Option (or portion thereof) is thereby exercised; or 

(ii) With the consent of the Administrator, (A) Shares owned by the Optionee duly endorsed for transfer to the
Company or (B) Shares issuable to the Optionee upon exercise of the Option, with a Fair Market Value on the date of Option exercise equal to the aggregate Option Price of the Shares with respect to which such Option (or portion thereof)
is thereby exercised; or 
 (iii) With the consent of the Administrator, payment of the Option Price through a
broker-assisted cashless exercise program established by the Company or other “cashless”, or net issuance, basis; or 

(iv) With the consent of the Administrator, any form of payment of the Option Price permitted by Applicable Laws and any
combination of the foregoing methods of payment. 

  
 15 

 (c) Full payment to the Company (in cash or by personal, certified or bank
cashier check or by any other means of payment approved by the Administrator) of all minimum amounts necessary to satisfy any and all Withholding Taxes arising in connection with the exercise of the Option or SAR (notice of the amount of which shall
be provided by the Administrator as soon as practicable following receipt by the Administrator of the notice of exercise); 

(d) Such representations and documents as the Administrator deems necessary or advisable to effect compliance with all
applicable provisions of the Securities Act and any other federal or state securities laws or regulations. The Administrator shall provide the Optionee or Eligible Representative with all such representations and documents as soon as practicable
following receipt by the Administrator of the notice of exercise. The Administrator may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such compliance including, without limitation, placing legends on
share certificates and issuing stop-transfer orders to transfer agents and registrars; and 
 (e) In the event that the
Option or SAR or portion thereof shall be exercised as permitted under Section 7.1 by any person or persons other than the Optionee, appropriate proof of the right of such person or persons to exercise the Option or SAR or portion thereof. 

Section 7.4 Optionee Representations. The Administrator, in its sole discretion, may require an Optionee to make certain
representations or acknowledgements on or prior to the purchase of any Shares pursuant to any Option or SAR granted under this Plan, in respect thereof including, without limitation, that the Optionee is acquiring the Shares for an investment
purpose and not for resale, and, if the Optionee is an Affiliate, additional acknowledgements regarding when and to what extent any transfers of such Shares may occur. 

Section 7.5 Settlement of SARs. Unless otherwise determined by the Administrator, upon exercise of a SAR, the Participant shall be
entitled to receive payment in the form, determined by the Administrator, of Shares, or cash, or a combination of Shares and cash having an aggregate value equal to the amount determined by multiplying: 

(a) any increase in the Fair Market Value of one Share on the exercise date over the Base Price of such SAR, by 

(b) the number of Shares with respect to which such SAR is exercised; provided, however, that on the Grant Date,
the Administrator may establish, in its sole discretion, a maximum amount per Share that may be payable upon exercise of a SAR, and provided, further, that in no event shall the value of the Company Common Stock or cash delivered on
exercise of a SAR exceed the excess of the Fair Market Value of the Shares with respect to which the SAR is exercised over the Fair Market Value of such Shares on the Grant Date of such SAR. 

  
 16 

 Section 7.6 Conditions to Issuance of Shares. The Company shall evidence the issuance
of Shares delivered upon exercise of an Option or SAR in the books and records of the Company or in a manner determined by the Company. Notwithstanding the above, the Company shall not be required to effect the issuance of any Shares purchased upon
the exercise of any Option or SAR or portion thereof prior to fulfillment of all of the following conditions: 
 (a) The
admission of such Shares to listing on any and all stock exchanges on which such class of Company Common Stock is then listed; 

(b) The completion of any registration or other qualification of such Shares under any state or federal law or under the
rulings or regulations of the U.S. Securities and Exchange Commission or any other local, state, federal or foreign governmental regulatory body, which the Administrator shall, in its sole discretion, deem necessary or advisable; 

(c) The obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator
shall, in its sole discretion, determine to be necessary or advisable; and 
 (d) The payment to the Company (or its
Subsidiary, as applicable) of all amounts which it is required to withhold under Applicable Law in connection with the exercise of the Option or SAR. 
 The
Administrator shall not have any liability to any Optionee for any delay in the delivery of Shares to be issued upon an Optionee’s exercise of an Option or SAR. 

Section 7.7 Rights as Stockholders. The holder of an Option or SAR shall not be, nor have any of the rights or privileges of, a
stockholder of the Company in respect of any Shares purchasable upon the exercise of any part of an Option or SAR unless and until the Shares attributable to the exercise of the Option or SAR have been issued by the Company to such holder and,
unless otherwise determined by the Administrator, such holder has made such representations and provided such documents as the Administrator deems necessary or advisable to effect compliance with all applicable provisions of the Securities Act and
any other federal or state securities laws or regulations. 
 Section 7.8 Transfer Restrictions. Unless otherwise determined by
the Administrator, the Shares acquired upon exercise of an Option or SAR shall be subject to the terms and conditions of the Award Agreement and such other terms and conditions as the Administrator shall determine. In addition, the Administrator, in
its sole discretion, may set forth in an Award Agreement such further restrictions on the transferability of the Shares purchasable upon the exercise of an Option or SAR as it deems appropriate. Any such restriction may be referred to in the Share
register maintained by the Company or otherwise in a manner reflecting its applicability to the Shares. The Administrator may require the Employee to give the Company prompt notice of any disposition of Shares acquired by exercise of an Incentive
Stock Option, within two (2) years from the Grant Date of such Option or one (1) year after the transfer of such Shares to such Employee. The Administrator may cause the Share register maintained by the Company to refer to such
requirement. 

  
 17 

 ARTICLE VIII 

Restricted Stock Awards and Restricted Stock Unit Awards 

Section 8.1 Restricted Stock. 

(a) Grant of Restricted Stock. The Administrator is authorized to make Awards of Restricted Stock to any Service Provider selected by
the Administrator in such amounts and subject to such terms and conditions as determined by the Administrator. All Awards of Restricted Stock shall be evidenced by an Award Agreement. 

(b) Issuance and Restrictions. Restricted Stock shall be subject to such restrictions on transferability and other restrictions as the
Administrator may impose (including, without limitation, limitations on the right to vote Restricted Stock or the right to receive dividends on the Restricted Stock). These restrictions may lapse separately or in combination at such times, pursuant
to such circumstances, in such installments, or otherwise, as the Administrator determines on the Grant Date of the Award or thereafter. 

(c) Issuance of Restricted Stock. The issuance of Restricted Stock granted pursuant to the Plan may be evidenced in such manner as the
Administrator shall determine; provided, that, no provision of this Plan shall be construed to require the Company to maintain the Shares in certificated form. 

Section 8.2 Restricted Stock Units. The Administrator is authorized to make Awards of Restricted Stock Units to any Service
Provider selected by the Administrator in such amounts and subject to such terms and conditions as determined by the Administrator. On the Grant Date, the Administrator shall specify the date or dates on which the Restricted Stock Units shall become
fully vested and nonforfeitable, and may specify such conditions to vesting as it deems appropriate. On the Grant Date, the Administrator shall specify the settlement date applicable to each grant of Restricted Stock Units which shall be no earlier
than the vesting date or dates of the Award and may be determined at the election of the grantee. Unless otherwise provided in an Award Agreement, on the settlement date, the Company shall, subject to the terms of this Plan (including satisfaction
of applicable Withholding Taxes), transfer to the Participant one Share for each Restricted Stock Unit scheduled to be paid out on such date and not previously forfeited. The Administrator shall specify the purchase price, if any, to be paid by the
grantee to the Company for such Shares. 
 Section 8.3 Rights as a Stockholder. A Participant shall not be, nor have any of the
rights or privileges of, a stockholder in respect of Restricted Stock Units awarded pursuant to the Plan unless and until the Shares attributable to such Restricted Stock Units have been issued to such Participant and, unless otherwise determined by
the Administrator, such Participant has made such representations and provided such documents as the Administrator deems necessary or advisable to effect compliance with all applicable provisions of the Securities Act and any other federal or state
securities laws or regulations. 

  
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 ARTICLE IX 

Performance Shares and Performance Units 

Section 9.1 Grant of Performance Awards. The Administrator is authorized to make Awards of Performance Shares and Performance
Units to any Participant selected by the Administrator in such amounts and subject to such terms and conditions as determined by the Administrator. All Performance Shares and Performance Units shall be evidenced by an Award Agreement. 

Section 9.2 Issuance and Restrictions. The Administrator shall have the authority to determine the Participants who shall receive
Performance Shares and Performance Units, the number of Performance Shares and the number and value of Performance Units each Participant receives for any Performance Cycle, and the Performance Goals applicable in respect of such Performance Shares
and Performance Units for each Performance Cycle. The Administrator shall determine the duration of each Performance Cycle (the duration of Performance Cycles may differ from one another), and there may be more than one Performance Cycle in
existence at any one time. An Award Agreement evidencing the grant of Performance Shares or Performance Units shall specify the number of Performance Shares and the number and value of Performance Units awarded to the Participant, the Performance
Goals applicable thereto, and such other terms and conditions not inconsistent with the Plan as the Administrator shall determine. No Company Common Stock will be issued at the time an Award of Performance Shares is made, and the Company shall not
be required to set aside a fund for the payment of Performance Shares or Performance Units. 
 Section 9.3 Earned Performance Shares
and Performance Units. Performance Shares and Performance Units shall become earned, in whole or in part, based upon the attainment of specified Performance Goals or the occurrence of any event or events, as the Administrator shall determine,
either in an Award Agreement or thereafter on terms more favorable to the Participant; provided, that, as to any such Award subject to Section 162(m), to the extent consistent with Section 162(m). In addition to the
achievement of the specified Performance Goals, the Administrator may condition payment of Performance Shares and Performance Units on such other conditions as the Administrator shall specify in an Award Agreement. The Administrator may also provide
in an Award Agreement for the completion of a minimum period of service (in addition to the achievement of any applicable Performance Goals) as a condition to the vesting of any Performance Share or Performance Unit Award. 

Section 9.4 Rights as a Stockholder. A Participant shall not have any rights as a stockholder in respect of Performance Shares or
Performance Units awarded pursuant to the Plan (including, without limitation, to the right to vote on any matter submitted to the Company’s stockholders) unless and until the Shares attributable to such Performance Shares or Performance Units
have been issued to such Participant or his or her beneficiary and, unless otherwise determined by the Administrator, such Participant has made such representations and provided such documents as the Administrator deems necessary or advisable to
effect compliance with all applicable provisions of the Securities Act and any other federal or state securities laws or regulations. 

  
 19 

 Section 9.5 Performance Goals. The Administrator shall establish the Performance
Goals that must be satisfied in order for a Participant to receive an Award for a Performance Period or for an Award of Performance Shares or Performance Units to be earned or vested. At the discretion of the Administrator, the Performance Goals may
be based upon (alone or in combination): (a) net or operating income (before or after taxes) or other income measures; (b) earnings before taxes, interest, depreciation and/or amortization (“EBITDA”);
(c) net income before equity in earnings of unconsolidated Subsidiary, income tax expense, loss on early debt extinguishment, interest and other (expense) income, realized gain (loss) on investments, interest expense, equity-based
compensation expense, related party management fees, restructuring charges and depreciation and amortization expense and net income attributable to noncontrolling interests (“Adjusted EBITDA”); (d) basic or diluted
earnings per share or improvement in basic or diluted earnings per share; (e) sales (including, but not limited to, total sales, net sales and revenue growth); (f) profit (including, but not limited to, net profit, gross
profit, operating profit, net operating profit, economic profit or other corporate profit measures); (g) financial return measures (including, but not limited to, return on assets, income, capital, invested capital, equity, investments,
sales and revenue); (h) cash flow measures (including, but not limited to, operating cash flow, free cash flow, cash flow return on equity and cash flow return on investment); (i) productivity ratios (including, but not
limited to, measuring liquidity, profitability and leverage); (j) share price (including, but not limited to, growth measures and total shareholder return); (k) expense/cost management targets (including, but not limited, to
expense management, expense ratio, expense efficiency ratios or other expense measures); (l) margins (including, but not limited to, operating margin, net income margin, cash margin, gross, net or operating profit margins, EBITDA margins
and Adjusted EBITDA margins); (m) operating efficiency; (n) market share or market penetration; (o) customer targets (including, but not limited to, customer growth and customer satisfaction);
(p) working capital targets or improvements; (q) economic value added; (r) balance sheet metrics (including, but not limited to, inventory, inventory turns, receivables turnover, net asset turnover, total debt,
net debt, debt reduction, retained earnings, year-end cash, cash conversion cycle and ratio of debt to equity or to EBITDA); (s) workforce targets (including, but not limited to, diversity goals, employee engagement or satisfaction,
employee retention and workplace health and safety goals); (t) implementation, completion or attainment of measurable objectives with respect to research and development, key products or key projects, lines of business, acquisitions and
divestitures and strategic plan development and/or implementation; (u) comparisons with various stock market indices, peer companies or industry groups or classifications with regard to one more of these criteria,
(v) improvements in capital structure, (w) business expansion or consolidation (acquisitions and divestitures), (x) internal rate of return or increase in net present value, (y) productivity measures,
(z) cost reduction measures or, for any period of time in which Section 162(m) is not applicable to the Company and the Plan, or at any time in the case of (A) persons who are not “covered employees” under
Section 162(m) of the Code or (B) Awards (whether or not to “covered employees”) not intended to qualify as performance-based compensation under Section 162(m) of the Code, such other criteria as may be determined by
the Administrator. 
 Performance Goals may be established on a Company-wide basis or with respect to one or more Subsidiaries or Affiliates
or business units, divisions, regions, departments, functions or products within the Company, a Subsidiary or Affiliate and may be expressed in absolute terms, or an adjusted basis, in percentages, or in terms of growth from period to period or
growth rates over time, or measured relative to (i) current internal targets or budgets, (ii) the past performance 

  
 20 

 
of the Company (including the performance of one or more Subsidiaries, divisions or operating units), (iii) the performance of one or more similarly situated companies,
(iv) the performance of an index covering a peer group of companies or (v) other external measures of the selected performance criteria. Performance Goals need not be based upon an increase or positive result under a business
criterion and could include, for example, the maintenance of the status quo or the limitation of economic losses (measured, in each case, by reference to a specific business criterion). Any performance objective may measure performance on an
individual basis, as appropriate. The Administrator may provide for a threshold level of performance below which no Shares or compensation will be granted or paid in respect of Performance Shares or Performance Units, and a maximum level of
performance above which no additional Shares or compensation will be granted or paid in respect of Performance Shares or Performance Units, and it may provide for differing amounts of Shares or compensation to be granted or paid in respect of
Performance Shares or Performance Units for different levels of performance. When establishing Performance Goals for a Performance Cycle, the Administrator may determine that any or all “extraordinary items” as determined under U.S.
generally accepted accounting principles and as identified in the financial statements, notes to the financial statements or management’s discussion and analysis in the annual report, including, without limitation, the charges or costs
associated with restructurings of the Company, discontinued operations, extraordinary items, capital gains and losses, dividends, Share repurchase, other unusual or non-recurring items, and the cumulative effects of accounting changes shall be
excluded from the determination as to whether the Performance Goals have been met. Except in the case of Awards to “covered employees” intended to be performance-based compensation under Section 162(m) of the Code, the Administrator
may also adjust the Performance Goals for any Performance Cycle as it deems equitable in recognition of unusual or non-recurring events affecting the Company, changes in applicable tax laws or accounting principles, or such other factors as the
Administrator may determine. 
 Section 9.6 Special Rule for Performance Goals. If, at the time of grant, the Administrator
intends a Performance Share Award, Performance Unit or other Performance Award to qualify as performance-based compensation within the meaning of Section 162(m) of the Code, the Administrator must establish Performance Goals for the applicable
Performance Cycle prior to the 91st day of the Performance Cycle (or by such other date as may be required under Section 162(m) of the Code) and not later than the date on which 25% of the
Performance Cycle has elapsed. 
 Section 9.7 Negative Discretion. Notwithstanding anything in this Article IX to the contrary,
the Administrator shall have the right, in its absolute discretion, (i) to reduce or eliminate the amount otherwise payable to any Participant under Section 9.9 based on individual performance or any other factors that the
Administrator, in its discretion, shall deem appropriate and (ii) to establish rules or procedures that have the effect of limiting the amount payable to each Participant to an amount that is less than the maximum amount otherwise
authorized under the Award or under the Plan. 
 Section 9.8 Affirmative Discretion. Notwithstanding any other provision in the
Plan to the contrary, but subject to the maximum number of Shares available for issuance under Article IV of the Plan the Administrator shall have the right, in its discretion, to grant an Award in cash, Shares or other Awards, or in any combination
thereof, to any Participant (except for 

  
 21 

 
Awards intended to qualify as performance-based compensation under Section 162(m) of the Code, to the extent Section 162(m) of the Code is applicable to the Company and the Plan) in a
greater amount than would apply under the applicable Performance Goals, based on individual performance or any other criteria that the Administrator deems appropriate. Notwithstanding any provision of the Plan to the contrary, in no event shall the
Administrator have, or exercise, discretion with respect to a Performance Award intended to qualify as performance-based compensation under Section 162(m) of the Code if such discretion or the exercise thereof would cause such qualification not
to be available. 
 Section 9.9 Certification of Attainment of Performance Goals. As soon as practicable after the end of a
Performance Cycle and prior to any payment or vesting in respect of such Performance Cycle, the Administrator shall certify in writing the number of Performance Shares or other Performance Awards and the number and value of Performance Units that
have been earned or vested on the basis of performance in relation to the established Performance Goals. 
 Section 9.10 Payment of
Awards. Payment or delivery of Company Common Stock with respect to earned Performance Shares and earned Performance Units shall be made to the Participant or, if the Participant has died, to the Participant’s Eligible Representative, as
soon as practicable after the expiration of the Performance Cycle and the Administrator’s certification under Section 9.9 above and (unless an applicable Award Agreement shall set forth one or more other dates) in any event no later than
the earlier of (i) ninety (90) days after the end of the fiscal year in which the Performance Cycle has ended and (ii) ninety (90) days after the expiration of the Performance Cycle. The Administrator shall
determine and set forth in the applicable Award Agreement whether earned Performance Shares and the value of earned Performance Units are to be distributed in the form of cash, Shares or in a combination thereof, with the value or number of Shares
payable to be determined based on the Fair Market Value of the Company Common Stock on the date of the Administrator’s certification under Section 9.9 above or such other date specified in the Award Agreement. The Administrator may, in an
Award Agreement with respect to the award or delivery of Shares, condition the vesting of such Shares on the performance of additional service. 

Section 9.11 Newly Eligible Participants. Notwithstanding anything in this Article IX to the contrary, the Administrator shall be
entitled to make such rules, determinations and adjustments as it deems appropriate with respect to any Participant who becomes eligible to receive Performance Shares, Performance Units or other Performance Awards after the commencement of a
Performance Cycle. 
 ARTICLE X 

Deferred Share Units 

Section 10.1 Grant. Subject to Article III, the Administrator is authorized to make awards of Deferred Share Units to any
Participant selected by the Administrator at such time or times as shall be determined by the Administrator without regard to any election by the Participant to defer receipt of any compensation or bonus amount payable to him. Upon the grant of
Deferred Share Units pursuant to the Plan, the Company shall establish a notional account for the Participant and will record in such account the number of Deferred Share Units awarded to the Participant. No Shares will be issued to the Participant
at the time an award of 

  
 22 

 
Deferred Share Units is granted. Subject to Article III, Deferred Share Units may become payable on a Corporate Event, Change of Control, termination of employment or on a specified date or dates
or a specified event or events set forth in the Award Agreement evidencing such Deferred Share Units. 
 Section 10.2 Rights as a
Stockholder. A Participant shall not be, nor have any of the rights and privileges of, a stockholder of the Company in respect of Deferred Share Units awarded pursuant to the Plan unless and until the Shares attributable to such Deferred Share
Units have been issued to such Participant and, unless otherwise determined by the Administrator, such Participant has made such representations and provided such documents as the Administrator deems necessary or advisable to effect compliance with
all applicable provisions of the Securities Act and any other federal or state securities laws or regulations. 
 Section 10.3
Vesting. Unless the Administrator provides otherwise on the Grant Date or provides thereafter in a manner more favorable to the Participant, Deferred Share Units shall be fully vested and nonforfeitable when granted. 

Section 10.4 Further Deferral Elections. A Participant may elect to further defer receipt of Shares issuable in respect of
Deferred Share Units (or an installment of an Award) for a specified period or until a specified event and in a manner consistent with Section 409A of the Code, subject in each case to the Administrator’s approval and to such terms as are
determined by the Administrator, all in its sole discretion. Subject to any exceptions adopted by the Administrator, such election must generally be made at least twelve (12) months prior to the prior settlement date of such Deferred Share
Units (or any such installment thereof) and must defer settlement for at least five (5) years after such prior settlement date. A further deferral opportunity does not have to be made available to all Participants, and different terms and
conditions may apply with respect to the further deferral opportunities made available to different Participants. 
 Section 10.5
Settlement. Subject to this Article X, upon the date specified in the Award Agreement evidencing the Deferred Share Units, for each such Deferred Share Unit the Participant shall receive, as specified in the Award Agreement (and subject to
satisfaction of applicable withholding taxes), (i) a cash payment equal to the Fair Market Value of one (1) Share as of such payment date, (ii) one (1) Share or (iii) any combination of clauses (i)
and (ii). 
 ARTICLE XI 

Other Stock-Based Awards 

Section 11.1 Grant of Stock-Based Awards. The Administrator is authorized to make Awards of other types of equity-based or
equity-related awards (“Stock-Based Awards”) not otherwise described by the terms of the Plan in such amounts and subject to such terms and conditions as the Administrator shall determine. All Stock-Based Awards shall be evidenced
by an Award Agreement. Such Stock-Based Awards may be granted as an inducement to enter the employ of the Company or any Subsidiary or in satisfaction of any obligation of the Company or any Subsidiary to an officer or other key employee, whether
pursuant to this Plan or otherwise, that would otherwise have been payable in cash or in respect of any other obligation of the Company. Such Stock-Based Awards may entail the transfer of actual Shares, or payment in

  
 23 

 
cash or otherwise of amounts based on the value of Shares and may include, without limitation, Awards designed to comply with or take advantage of the applicable local laws of jurisdictions other
than the United States. 
 Section 11.2 Sale of Company Common Stock to Service Providers. The Administrator, acting in its sole
discretion, may from time to time designate one or more Service Providers to whom an offer to sell Shares shall be made and the terms and conditions thereof, provided, however, that the price per Share shall not be less than the Fair
Market Value of such Shares on the date any such offer is accepted. Any Shares sold under this Section 11.2 shall be subject to the same limitations, restrictions and administration hereunder as would apply to any Shares issued pursuant to the
exercise of an Option under this Plan including, without limitation, conditions and restrictions set forth in Section 7.6 above. Unless otherwise determined by the Administrator, Shares acquired pursuant to this Section 11.2 shall also be
subject to the terms and conditions of an Award Agreement, which shall be executed by the Participant and an authorized officer. 

Section 11.3 Automatic Grants for Directors. The Administrator may institute, by resolution, grants of automatic Awards to new and
continuing Directors, with the number and type of such Awards, the frequency of grant and all related terms and conditions, including any applicable vesting conditions, as determined by the Administrator in its sole discretion. 

ARTICLE XII 
 Dividend
Equivalents 
 Section 12.1 Generally. Dividend Equivalents may be granted to Participants at such time or times as shall be
determined by the Administrator. Dividend Equivalents may be granted in tandem with other Awards, in addition to other Awards, or freestanding and unrelated to other Awards. Dividend Equivalents may, at the discretion of the Administrator, be fully
vested and nonforfeitable when granted or subject to such vesting conditions as determined by the Administrator. For the avoidance of doubt, Dividend Equivalents with respect to Awards shall not be fully vested until the Awards have been earned and
shall be forfeited if the related Award is forfeited. Dividend Equivalents shall be evidenced in writing, whether as part of the Award Agreement governing the terms of the Award, if any, to which such Dividend Equivalent relates, or pursuant to a
separate Award Agreement with respect to freestanding Dividend Equivalents, in each case, containing such provisions not inconsistent with the Plan as the Administrator shall determine, including customary representations, warranties and covenants
with respect to securities law matters. 
 ARTICLE XIII 

Termination and Forfeiture 

Section 13.1 Termination for Cause. Unless otherwise determined by the Administrator at the Grant Date and set forth in the Award
Agreement covering the Award or otherwise in writing or determined thereafter in a manner more favorable to the Participant, if a Participant’s employment or service terminates for Cause, all Options and SARs, whether vested or unvested, and
all other Awards that are unvested or unexercisable or otherwise unpaid (or were unvested or unexercisable or unpaid at the time of occurrence of Cause) shall be immediately forfeited and canceled, effective as of the date of the Participant’s
termination of service. 

  
 24 

 Section 13.2 Termination for Any Other Reason. Unless otherwise determined by the
Administrator at the Grant Date and set forth in the Award Agreement covering the Award or otherwise in writing or determined thereafter in a manner more favorable to the Participant, if a Participant’s employment or service terminates for any
reason other than Cause: 
 (a) All Awards that are unvested or unexercisable shall be immediately forfeited and canceled,
effective as of the date of the Participant’s termination of service; 
 (b) All Options and SARs that are vested shall
remain outstanding until the earliest of the following: (x) in the case of termination for death, Disability or retirement at normal retirement age, the 180th day following the date of the Participant’s death, Disability or
retirement at normal retirement age, (y) the three-month anniversary of the effective date of the Participant’s termination for any reason other than death, Disability or retirement at normal retirement age or (z) the
Award’s normal expiration date, after which any unexercised Options and SARs shall immediately terminate; and 
 (c) All
Awards other than Options and SARs that are vested shall be treated as set forth in the applicable Award Agreement (or in any more favorable manner determined by the Administrator). 

Section 13.3 Post-Termination Informational Requirements. Before the settlement of any Award following termination of employment
or service, the Administrator may require the Participant (or the Participant’s Eligible Representative, if applicable) to make such representations and provide such documents as the Administrator deems necessary or advisable to effect
compliance with Applicable Law and determine whether the provisions of Section 13.1 or Section 13.4 may apply to such Award. 

Section 13.4 Forfeiture of Awards. Awards granted under this Plan (and gains earned or accrued in connection with Awards) shall be
subject to such generally applicable policies as to forfeiture and recoupment (including, without limitation, upon the occurrence of material financial or accounting errors, financial or other misconduct, Competitive Activity or other conduct by the
Participant that is detrimental to the business or reputation of the Company and/or its Affiliates) as may be adopted by the Administrator or the Board from time to time and communicated to Participants. Any such policies may (in the discretion of
the Administrator or the Board) be applied to outstanding Awards at the time of adoption of such policies, or on a prospective basis only. The Administrator may specify in an Award Agreement that the Participant’s rights, payments and benefits
with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain events (including, without limitation, upon the occurrence of material financial or accounting errors, financial or other
misconduct, Competitive Activity or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates). The Participant shall also forfeit and disgorge to the Company any Awards granted or vested
and any gains earned or accrued due to the exercise of Options or SARs or the sale of any Company Common Stock to the extent required by Applicable Law or regulations in effect on or after the Effective

  
 25 

 
Date, including Section 304 of the Sarbanes-Oxley Act of 2002 and Section 10D of the Exchange Act. For the avoidance of doubt, the Administrator shall have full authority to implement
any policies and procedures necessary to comply with Section 10D of the Exchange Act and any rules promulgated thereunder. The implementation of policies and procedures pursuant to this Section 13.4 and any modification of the same shall
not be subject to any restrictions on amendment or modification of Awards. 
 Section 13.5 Clawbacks. Awards shall be subject to
any generally applicable clawback policy adopted by the Administrator, the Board or the Company that is communicated to the Participants or any such policy adopted to comply with Applicable Law. 

ARTICLE XIV 
 Change in Control

 Section 14.1 Alternative Award. Subject to Section 14.2, upon a Change in Control, outstanding Awards (other than Awards
that by their express terms are forfeited upon a Change in Control (e.g., by reason of performance goals not having been satisfied)) shall be honored or assumed, or new rights shall be substituted therefor, effective following the Change in Control
(such honored, assumed or substituted award, an “Alternative Award”) having such terms and conditions as are determined by the Administrator, provided that any Alternative Awards must (i) include rights and
entitlements substantially equivalent to or better than the rights and entitlements applicable under the Award immediately prior to the Change in Control (except that, for avoidance of doubt, the Alternative Awards may relate to an equity interest
of a direct or indirect parent of the Company or an Affiliate rather than to the Company Common Stock); (ii) as to any service-based vesting requirement applicable to the Award, provide for full vesting of the Alternative Award upon the
Participant’s termination of employment without Cause or in a constructive discharge during the remaining vesting period thereof (with “constructive discharge” to have such meaning as is determined by the Administrator as to a
Participant who is not otherwise covered by a Good Reason provision); (iii) as to any performance-based vesting requirement applicable to the Award, provide for vesting of the Alternative Award at target levels upon the Participant’s
termination of employment without Cause or in a constructive discharge during the remaining vesting period thereof; (iv) as to any Alternative Awards that are stock options, have identical or better methods of payment of the exercise price
thereof; and (iv) provide for a substantially equivalent method by which the Participant is able to receive cash in respect of the Alternative Awards (or such other method as may be agreed by the Administrator and the counterparty in the
Change in Control). If the Administrator determines in connection with a Change in Control that performance-based vesting requirements applicable to an Award will no longer operate as intended following the Change in Control or will no longer
provide the intended incentive, the Administrator may modify such performance-based vesting requirements or impose new performance-based vesting requirements so long as the Administrator determines that such modified or new performance-based vesting
requirements are not materially more difficult to achieve than the performance-based vesting requirements applicable to the Award immediately prior to the Change in Control. 

Section 14.2 Accelerated Vesting and Payment. In the event that the Administrator determines, whether in an Award Agreement or
thereafter, including at the time of or in connection with a Change of Control, that the provisions of Section 14.1 shall not (or shall no longer) apply, then the Administrator may determine, in whole or in part and in any combination, that, upon a
Change in Control: 
 (a) each vested and unvested Option or SAR shall be canceled in exchange for a payment equal to the
excess, if any, of the Change in Control Price over the applicable Option Price or Base Price; 
 (b) the vesting
restrictions applicable to all other unvested Awards (other than freestanding Dividend Equivalents not granted in connection with another Award) shall lapse, all such Awards shall vest and become non-forfeitable and be canceled in exchange for a
payment equal to the Change in Control Price; 
 (c) all other Awards (other than freestanding Dividend Equivalents not
granted in connection with another Award) that were vested prior to the Change in Control but that have not been settled or converted into Shares prior to the Change in Control shall be canceled in exchange for a payment equal to the Change in
Control Price; and 
 (d) all freestanding Dividend Equivalents not granted in connection with another Award shall be
cancelled without payment therefor. 

  
 26 

 To the extent any portion of the Change in Control Price is payable other than in cash and/or other than at the
time of the Change in Control, equity holders under the Plan may (to the extent consistent with Section 409A) receive the same time and form of payment in the Change in Control in the same proportion as the Company’s stockholders, or the
Administrator may, in its sole discretion, cause equity holders under the Plan to be paid in cash at the time of the Change in Control. For avoidance of doubt, upon a Change in Control the Administrator may cancel Options and SARs for no
consideration if the aggregate Fair Market Value of the Shares subject to Options and SARs is less than or equal to the Option Price of such Options or the Base Price of such SARs. 

Section 14.3 Section 409A. Notwithstanding the broad discretion of the Administrator in Sections 14.1 and 14.2, if any
Award is subject to Section 409A of the Code and an Alternative Award would be deemed a non-compliant modification of such Award under Section 409A, then no Alternative Award shall be provided and such Award shall instead be treated as
provided in Section 14.2 or in the Award Agreement (or in such other manner determined by the Administrator that is a compliant modification under Section 409A). 

Section 14.4 Successors and Assigns. The obligations of the Company under the Plan shall be binding upon any successor corporation
or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to all or substantially all of the assets and business of the Company and its Affiliates,
taken as a whole. 
 ARTICLE XV 

Other Provisions 

Section 15.1 Awards Not Transferable. Unless otherwise agreed to in writing by the Administrator, no Award or interest or right
therein or part thereof shall be liable for the debts, contracts or engagements of the Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any
other means whether such disposition be voluntary or involuntary or by operation of law, by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be
null and void and of no effect; provided, however, that nothing in this Section 15.1 shall prevent transfers by will or by the applicable laws of descent and distribution or, with the prior approval of the Company’s General
Counsel or the Administrator, estate planning transfers. 
 Section 15.2 Amendment, Suspension or Termination of the Plan or Award
Agreements. 
 (a) The Plan may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time
to time by the Administrator; provided that without the approval by a majority of the shares entitled to vote at a duly constituted meeting of shareholders of the Company, no amendment or modification to the Plan may (i) except as
otherwise 

  
 27 

 
expressly provided in Section 4.3, increase the number of Shares subject to the Plan or the individual Award limitations specified in Section 4.2; (ii) modify the class of
persons eligible for participation in the Plan; or (iii) materially modify the Plan in any other way that would require shareholder approval under Applicable Law. 

(b) Except as otherwise expressly provided in the Plan, neither the amendment, suspension nor termination of the Plan shall, without the
consent of the holder of the Award, adversely alter or impair any rights or obligations under any Award theretofore granted. Except as provided by Section 4.3, notwithstanding the foregoing, the Administrator at any time, and from time to time,
may amend the terms of any one or more existing Award Agreements, provided, however, that the rights of a Participant under an Award Agreement shall not be adversely impaired without the Participant’s written consent. The Company
shall provide a Participant with notice of any amendment made to such Participant’s existing Award Agreement in accordance with the terms of this Section 15.2(b). 

(c) Notwithstanding any provision of the Plan to the contrary, in no event shall adjustments made by the Administrator pursuant to
Section 4.3 or the application of Section 13.5, Section 14.1, Section 14.2, Section 15.7 or Section 15.14 to any Participant constitute an amendment of the Plan or of any Award Agreement requiring the consent of any
Participant. 
 (d) No Award may be granted during any period of suspension nor after termination of the Plan, and in no event may any Award
be granted under this Plan after the expiration of ten (10) years from the Effective Date. 
 Section 15.3 Effect of Plan upon
Other Award and Compensation Plans. The adoption of this Plan shall not affect any other compensation or incentive plans in effect for the Company or any of its Subsidiaries. Nothing in this Plan shall be construed to limit the right of the
Company or any of its Subsidiaries (a) to establish any other forms of incentives or compensation for Service Providers or (b) to grant or assume options or restricted stock other than under this Plan in connection with any
proper corporate purpose, including, but not by way of limitation, the grant or assumption of options or restricted stock in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of
any corporation, firm or association. 
 Section 15.4 No Fractional Shares. No fractional shares of Common Stock shall be issued
or delivered pursuant to the Plan. The Administrator shall determine whether cash, additional Awards or other securities or properties shall be issued or paid in lieu of fractional shares of Common Stock or whether any fractional shares should be
rounded, forfeited or otherwise eliminated. 
 Section 15.5 At-Will Employment. Nothing
in the Plan or any Award Agreement hereunder shall confer upon the Participant any right to continue as a Service Provider of the Company or any of its Subsidiaries or shall interfere with or restrict in any way the rights of the Company and any of
its Subsidiaries, which are hereby expressly reserved, to discharge any Participant at any time for any reason whatsoever, with or without notice, and with or without Cause. 

  
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 Section 15.6 Titles. Titles are provided herein for convenience only and are not to
serve as a basis for interpretation or construction of the Plan. 
 Section 15.7 Conformity to Securities Laws. The Plan is
intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated under any of the foregoing, to the extent the Company, any of its Subsidiaries or any
Participant is subject to the provisions thereof. Notwithstanding anything herein to the contrary, the Plan shall be administered, and Awards shall be granted and may be exercised, only in such a manner as to conform to such laws, rules and
regulations. To the extent permitted by applicable law, the Plan and Awards granted hereunder shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 

Section 15.8 Term of Plan. The Plan shall become effective on the date as of which this Plan is adopted by the Board (the
“Effective Date”) and shall continue in effect, unless sooner terminated pursuant to Section 15.2, until the tenth (10th) anniversary of the Effective Date. No Award
shall be granted pursuant to the Plan after such date, but Awards theretofore granted may extend beyond that date. The provisions of the Plan shall continue thereafter to govern all outstanding Awards. 

Section 15.9 Governing Law. To the extent not preempted by federal law, the Plan shall be construed in accordance with and
governed by the laws of the State of Delaware regardless of the application of rules of conflict of law that would apply the laws of any other jurisdiction. 

Section 15.10 Severability. In the event any portion of the Plan or any action taken pursuant thereto shall be held illegal or
invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provisions had not been included, and the illegal or invalid action
shall be null and void. 
 Section 15.11 Governing Documents. In the event of any express contradiction between the Plan and any
Award Agreement or any other written agreement between a Participant and the Company or any Subsidiary of the Company that has been approved by the Administrator, the express terms of the Plan shall govern, unless it is expressly specified in such
Award Agreement or other written document that such express provision of the Plan shall not apply. 
 Section 15.12 Withholding
Taxes. In addition to any rights or obligations with respect to Withholding Taxes under the Plan or any applicable Award Agreement, the Company or any Subsidiary employing a Service Provider shall have the right to withhold from the Service
Provider, or otherwise require the Service Provider or an assignee to pay, any Withholding Taxes arising as a result of grant, exercise, vesting or settlement of any Award or any other taxable event occurring pursuant to the Plan or any Award
Agreement, including, without limitation, to the extent permitted by law, the right to deduct any such Withholding Taxes from any payment of any kind otherwise due to the Service Provider or to take such other actions (including, without limitation,
withholding any Shares or cash deliverable pursuant to the Plan or any Award) as may be necessary to satisfy such Withholding Taxes; provided, however, that in the event that the Company withholds Shares issued or issuable to the
Participant to satisfy all or any 

  
 29 

 
portion of the Withholding Taxes, the Company shall withhold a number of whole Shares having a Fair Market Value, determined as of the date of withholding, not in excess of the minimum of tax
required to be withheld by Applicable Law (or such lower amount as may be necessary to avoid liability award accounting) and any remaining amount shall be remitted in cash or withheld; and provided, further, that with respect to any
Award subject to Section 409A of the Code, in no event shall Shares be withheld pursuant to this Section 15.12 (other than upon or immediately prior to settlement in accordance with the Plan and the applicable Award Agreement) other than
to pay taxes imposed under the U.S. Federal Insurance Contributions Act (FICA) and any associated U.S. federal withholding tax imposed under Section 3401 of the Code and in no event shall the value of such Shares (other than upon immediately
prior to settlement) exceed the amount of the tax imposed under FICA and any associated U.S. federal withholding tax imposed under Section 3401 of the Code. The Participant shall be responsible for all Withholding Taxes and other tax
consequences of any Award granted under this Plan. 
 Section 15.13 Unfunded Plan. The Plan shall be unfunded. The Company shall
not be required to establish any special or separate fund or to segregate any assets to assure the performance of its obligations under the Plan. 

Section 15.14 Section 409A. To the extent that the Administrator determines that any Award granted under the Plan is subject
to Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code. To the extent applicable, the Plan and Award Agreements shall be interpreted in
accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the adoption of the
Plan. Notwithstanding any provision of the Plan to the contrary, in the event that following the adoption of the Plan, the Administrator determines that any Award may be subject to Section 409A of the Code and related regulations and Department
of Treasury guidance (including such Department of Treasury guidance as may be issued after the adoption of the Plan), the Administrator may adopt such amendments to the Plan and the applicable Award Agreement or adopt other policies and procedures
(including amendments, policies and procedures with retroactive effect), or take any other actions, that the Administrator determines are necessary or appropriate to (a) exempt the Award from Section 409A of the Code and/or preserve
the intended tax treatment of the benefits provided with respect to the Award, (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance or (c) comply with any correction
procedures available with respect to Section 409A of the Code. Notwithstanding anything else contained in this Plan or any Award Agreement to the contrary, if a Service Provider is a “specified employee” as determined pursuant to
Section 409A under any Company Specified Employee policy in effect at the time of the Service Provider’s “separation from service” (as determined under Section 409A) or, if no such policy is in effect, as defined in
Section 409A of the Code), then, to the extent necessary to comply with, and avoid imposition on such Service Provider of any tax penalty imposed under, Section 409A of the Code, any payment required to be made to a Service Provider
hereunder upon or following his or her separation from service shall be delayed until the first to occur of (i) the six-month anniversary of the Service Provider’s separation from service and (ii) the Service
Provider’s death. Should payments be delayed in accordance with the preceding sentence, the accumulated payment that would have been made but for the period of the delay shall be paid in a single lump sum during the ten-day period following the
lapsing of 

  
 30 

 
the delay period. Notwithstanding the foregoing, neither the Company nor the Administrator shall have any obligation to take any action to prevent the assessment of any excise tax or penalty on
any Participant under Section 409A of the Code and neither the Company nor the Administrator shall have any liability to any Participant for such tax or penalty. No provision of this Plan or an Award Agreement shall be construed to indemnify
any Service Provider for any taxes incurred by reason of Section 409A (or timing of incurrence thereof), other than an express indemnification provision therefor. 

Section 15.15 Section 16. It is the intent of the Company that the Plan satisfy, and be interpreted in a manner that
satisfies, the applicable requirements of Rule 16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled to the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange
Act, and will not be subject to short-swing liability under Section 16 of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed in this Section 15.15, such provision to the
extent possible shall be interpreted and/or deemed amended so as to avoid such conflict. 
 Section 15.16 Section 162(m).
To the extent the Administrator issues any Award that is intended to be exempt from the deduction limitation of Section 162(m) of the Code, the Administrator may, without shareholder or grantee approval, amend the Plan or the relevant Award
Agreement retroactively or prospectively to the extent it determines necessary in order to comply with any subsequent clarification of Section 162(m) of the Code required to preserve the Company’s federal income tax deduction for
compensation paid pursuant to any such Award. 
 Section 15.17 Beneficiary Designation. Each Participant under the Plan may from
time to time name any beneficiary or beneficiaries by whom any right under the Plan is to be exercised in case of such Participant’s death. Each designation will revoke all prior designations by the same Participant, shall be in a form
reasonably prescribed by the Administrator and shall be effective only when filed by the Participant in writing with the Company during the Participant’s lifetime. 

Section 15.18 Notices. Except as provided otherwise in an Award Agreement, all notices and other communications required or
permitted to be given under this Plan or any Award Agreement shall be in writing and shall be deemed to have been given if delivered personally, sent by email or any other form of electronic transfer approved by the Administrator, sent by certified
or express mail, return receipt requested, postage prepaid, or by any recognized international equivalent of such delivery, (i) in the case of notices and communications to the Company, to 6285 Tri-Ridge Boulevard, Loveland, OH 45140 to
the attention of the Corporate Secretary of the Company or (ii) in the case of a Participant, to the last known address, or email address or, where the individual is an employee of the Company or one of its subsidiaries, to the
individual’s workplace address or email address or by other means of electronic transfer acceptable to the Administrator. All such notices and communications shall be deemed to have been received on the date of delivery, if sent by email or any
other form of electronic transfer, at the time of dispatch or on the third business day after the mailing thereof. 

  
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