Document:

Exhibit 4.1

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

	

	

	

	REGISTERED
No. 1
	CUSIP No.:
90265EAT7
	PRINCIPAL AMOUNT:
$400,000,000

	​
	​
	​

	​
	UDR, INC.

	​
	​
	​

	​
	​
	​

	​
	MEDIUM-TERM NOTE
SERIES A
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE, FULLY AND UNCONDITIONALLY GUARANTEED BY UNITED DOMINION REALTY, L.P.
(Fixed Rate)
	​

	​
	​
	​

	ORIGINAL ISSUE DATE:
July 21, 2020
	INTEREST RATE: 2.100%
	STATED MATURITY DATE: August 1, 2032

	​
	​
	​

	INTEREST PAYMENT DATE(S)
	[  ] CHECK IF DISCOUNT NOTE
	​

	[X] February 1 and August 1, commencing February 1, 2021
	Issue Price: 99.894% plus accrued interest from July 21, 2020
	​

	[ ] Other:
	​
	​

	​
	​
	​

	INITIAL REDEMPTION
	INITIAL REDEMPTION
	ANNUAL REDEMPTION

	DATE:  See Addendum
	PERCENTAGE:    See Addendum
	PERCENTAGE

	​
	​
	REDUCTION:   See Addendum

	​
	​
	​

	OPTIONAL REPAYMENT
	​
	​

	DATE(S):  See Addendum
	​
	​

	​
	​
	​

	SPECIFIED CURRENCY:
	AUTHORIZED DENOMINATION:
	EXCHANGE RATE

	[X] United States dollars
[ ] Other:
	[X] $2,000 and $1,000 integral 
multiples thereof
	AGENT:  N/A

	​
	[ ] Other:
	​

	​
	​
	​

	ADDENDUM ATTACHED
	DEFAULT INTEREST RATE:  N/A
	OTHER/ADDITIONAL PROVISIONS:  N/A

	[X] Yes
[  ] No
	​
	​

​
​

2
​

UDR, INC., a Maryland corporation (the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., as nominee for The Depository Trust Company, or registered assigns, the Principal Amount of FOUR HUNDRED MILLION DOLLARS ($400,000,000), on the Stated Maturity Date specified above (or any Redemption Date or Repayment Date, each as defined on the reverse hereof, or any earlier date of acceleration of maturity) (each such date being hereinafter referred to as the “Maturity Date” with respect to the principal repayable on such date) and to pay interest thereon (and on any overdue principal, premium and/or interest to the extent legally enforceable) at the Interest Rate per annum specified above, until the principal hereof is paid or duly made available for payment.  The Company will pay interest in arrears on each Interest Payment Date, if any, specified above (each, an “Interest Payment Date”), commencing with the first Interest Payment Date next succeeding the Original Issue Date specified above, and on the Maturity Date; provided, however, that if the Original Issue Date occurs between a Record Date (as defined below) and the next succeeding Interest Payment Date, interest payment will commence on the Interest Payment Date immediately following the next succeeding Record Date to the registered holder (the “Holder”) of this Note on the next succeeding Record Date.  Interest on this Note will be computed on the basis of a 360-day year of twelve 30-day months.
United Dominion Realty, L.P., a Delaware limited partnership (the “Operating Partnership”), as primary obligor and not merely as surety, hereby irrevocably and unconditionally guarantees to the Holder and to the Trustee and their successors and assigns (a) the full and punctual payment when due, whether at the Maturity Date, by acceleration or otherwise, of all obligations of the Company now or hereafter existing under the Indenture whether for principal of or interest on the Notes (and premium and Make-Whole Amount, if applicable) and all other monetary obligations of the Company under the Indenture and the Notes and (b) the full and punctual performance within the applicable grace periods of all other obligations of the Company under the Indenture and the Notes (all such obligations guaranteed hereby by the Operating Partnership being the “Guarantee”). The Holder of this Note may enforce its rights under the Guarantee directly against the Operating Partnership without first making a demand or taking action against the Company or any other person or entity. The Operating Partnership may, without the consent of the Holder of this Note, assume all of the Company’s rights and obligations under this Note and, upon such assumption, the Company will be released from its liabilities under the Indenture and this Note. 
Interest on this Note will accrue from, and including, the immediately preceding Interest Payment Date to which interest has been paid or duly provided for (or from, and including, the Original Issue Date if no interest has been paid or duly provided for) to, but excluding, the applicable Interest Payment Date or the Maturity Date, as the case may be (each, an “Interest Period”).  The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, subject to certain exceptions described herein, be paid to the person in whose name this Note (or one or more predecessor Notes, as defined on the reverse hereof) is registered at the close of business on the January 15 or July 15 (whether or not a Business Day, as defined below) immediately preceding such Interest Payment Date (the “Record Date”); provided, however, that interest payable on the Maturity Date will be payable to the person to whom the principal hereof and premium, if any, hereon shall be payable.  Any such interest not so punctually paid or duly provided for on any Interest Payment Date other than the Maturity Date (“Defaulted Interest”) shall forthwith cease to be payable to the Holder on the close of business on any Record 

3
​

Date and, instead, shall be paid to the person in whose name this Note is registered at the close of business on a special record date (the “Special Record Date”) for the payment of such Defaulted Interest to be fixed by the Trustee hereinafter referred to, notice whereof shall be given to the Holder of this Note by the Trustee not less than 10 calendar days prior to such Special Record Date or may be paid at any time in any other lawful manner, all as more fully provided for in the Indenture.
Payment of principal, premium, if any, and interest in respect of this Note due on the Maturity Date will be made in immediately available funds upon presentation and surrender of this Note (and, with respect to any applicable repayment of this Note, upon delivery of instructions as contemplated on the reverse hereof) at the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, currently the corporate trust office of the Trustee located at 40 Broad Street, 5th Floor, New York, New York 10004, or at such other paying agency in the Borough of Manhattan, The City of New York, as the Company may determine; provided, however, that if the Specified Currency (as defined below) is other than United States dollars and such payment is to be made in the Specified Currency in accordance with the provisions set forth below, such payment will be made by wire transfer of immediately available funds to an account with a bank designated by the Holder hereof at least 15 calendar days prior to the Maturity Date, provided that such bank has appropriate facilities therefor and that this Note is presented and surrendered and, if applicable, instructions are delivered at the aforementioned office or agency maintained by the Company in time for the Trustee to make such payment in such funds in accordance with its normal procedures.  Payment of interest due on any Interest Payment Date other than the Maturity Date will be made at the aforementioned office or agency maintained by the Company or, at the option of the Company, by check mailed to the address of the person entitled thereto as such address shall appear in the Security Register maintained by the Trustee; provided, however, that a Holder of U.S.$10,000,000 (or, if the Specified Currency is other than United States dollars, the equivalent thereof in the Specified Currency) or more in aggregate principal amount of Notes (whether having identical or different terms and provisions) will be entitled to receive interest payments on such Interest Payment Date by wire transfer of immediately available funds if such Holder has delivered appropriate wire transfer instructions in writing to the Trustee not less than 15 calendar days prior to such Interest Payment Date.  Any such wire transfer instructions received by the Trustee shall remain in effect until revoked by such Holder.
If any Interest Payment Date or the Maturity Date falls on a day that is not a Business Day, the required payment of principal, premium, if any, and/or interest shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue with respect to such payment for the period from and after such Interest Payment Date or the Maturity Date, as the case may be, to the date of such payment on the next succeeding Business Day.
As used herein, “Business Day” means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required by law, regulation or executive order to close in The City of New York; provided, however, that if the Specified Currency is other than United States dollars, such day must also not be a day on which commercial banks are authorized or required by law, regulation or executive order to close in the Principal Financial Center (as defined below) of the country issuing the Specified Currency (or, if 

4
​

the Specified Currency is Euro, such day must also be a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System is open).  “Principal Financial Center” means the capital city of the country issuing the Specified Currency, except that with respect to United States dollars, Australian dollars, Canadian dollars, Euros, South African rands and Swiss francs, the “Principal Financial Center” shall be The City of New York, Sydney, Toronto, Johannesburg and Zurich, respectively.
The Company is obligated to make payment of principal, premium, if any, and interest in respect of this Note in the currency in which this Note is denominated above (or, if such currency is not at the time of such payment legal tender for the payment of public and private debts in the country issuing such currency or, if such currency is Euro, in the member states of the European Union that have adopted the single currency in accordance with the Treaty establishing the European Community, as amended by the Treaty on European Union, then the currency which is at the time of such payment legal tender in the related country or in the adopting member states of the European Union, as the case may be) (the “Specified Currency”).  If the Specified Currency is other than United States dollars, except as otherwise provided below, any such amounts so payable by the Company will be converted by the Exchange Rate Agent specified above into United States dollars for payment to the Holder of this Note. 
Any United States dollar amount to be received by the Holder of this Note will be based on the highest bid quotation in The City of New York received by the Exchange Rate Agent at approximately 11:00 A.M., New York City time, on the second Business Day preceding the applicable payment date from three recognized foreign exchange dealers (one of whom may be the Exchange Rate Agent) selected by the Exchange Rate Agent and approved by the Company for the purchase by the quoting dealer of the Specified Currency for United States dollars for settlement on such payment date in the aggregate amount of the Specified Currency payable to all Holders of Notes scheduled to receive United States dollar payments and at which the applicable dealer commits to execute a contract.  All currency exchange costs will be borne by the Holder of this Note by deductions from such payments.  If three such bid quotations are not available, payments on this Note will be made in the Specified Currency.
If the Specified Currency is other than United States dollars, the Holder of this Note may elect to receive all or a specified portion of any payment of principal, premium, if any, and/or interest, if any, in respect of this Note in the Specified Currency by submitting a written request for such payment to the Trustee at its corporate trust office in The City of New York on or prior to the applicable Record Date or at least 15 calendar days prior to the Maturity Date, as the case may be.  Such written request may be mailed or hand delivered or sent by cable, telex or other form of facsimile transmission.  The Holder of this Note may elect to receive all or a specified portion of all future payments in the Specified Currency in respect of such principal, premium, if any, and/or interest, if any, and need not file a separate election for each payment.  Such election will remain in effect until revoked by written notice delivered to the Trustee, but written notice of any such revocation must be received by the Trustee on or prior to the applicable Record Date or at least 15 calendar days prior to the Maturity Date, as the case may be.
If the Specified Currency is other than United States dollars and the Holder of this Note shall have duly made an election to receive all or a specified portion of any payment of principal, premium, if any, and/or interest, if any, in respect of this Note in the Specified Currency, but the 

5
​

Specified Currency is not available due to the imposition of exchange controls or other circumstances beyond the control of the Company, the Company will be entitled to satisfy its obligations to the Holder of this Note by making such payment in United States dollars on the basis of the Market Exchange Rate (as defined below) determined by the Exchange Rate Agent on the second Business Day prior to such payment date or, if such Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate.  The “Market Exchange Rate” for the Specified Currency other than United States dollars means the noon dollar buying rate in The City of New York for cable transfers for the Specified Currency as certified for customs purposes (or, if not so certified, as otherwise determined) by the Federal Reserve Bank of New York.  Any payment made in United States dollars under such circumstances shall not constitute an Event of Default (as defined in the Indenture).
All determinations referred to above made by the Exchange Rate Agent shall be at its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and binding on the Holder of this Note.
The Company agrees to indemnify the Holder of any Note against any loss incurred by such Holder as a result of any judgment or order being given or made against the Company for any amount due hereunder and such judgment or order requiring payment in a currency (the “Judgment Currency”) other than the Specified Currency, and as a result of any variation between (i) the rate of exchange at which the Specified Currency amount is converted into the Judgment Currency for the purpose of such judgment or order, and (ii) the rate of exchange at which such Holder, on the date of payment of such judgment or order, is able to purchase the Specified Currency with the amount of the Judgment Currency actually received by such Holder, as the case may be.  The foregoing indemnity constitutes a separate and independent obligation of the Company and continues in full force and effect notwithstanding any such judgment or order as aforesaid.  The term “rate of exchange” includes any premiums and costs of exchange payable in connection with the purchase of, or conversion into, the relevant currency.
Reference is hereby made to the further provisions of this Note set forth on the reverse hereof and, if so specified on the face hereof, in an Addendum hereto, which further provisions shall have the same force and effect as if set forth on the face hereof.
Notwithstanding the foregoing, if an Addendum is attached hereto or “Other/Additional Provisions” apply to this Note as specified above, this Note shall be subject to the terms set forth in such Addendum or such “Other/Additional Provisions”.
Unless the Certificate of Authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

6
​

IN WITNESS WHEREOF, UDR, Inc. has caused this Note to be duly executed by one of its duly authorized officers.
​
	​

	​

	​

	​

	​

	​
	​
	UDR, INC.

	​
	​
	By:
	/s/ Joseph D. Fisher          

	​
	​
	​
	Name:
	Joseph D. Fisher

	​
	​
	​
	Title:
	Senior Vice President and Chief Financial Officer

​
​
ATTEST:
​
​
By: /s/  Deborah J. Shannon        ­
Name:  Deborah J. Shannon
Title:    Assistant Secretary
             
​
Dated: July 21, 2020
TRUSTEE'S CERTIFICATE OF AUTHENTICATION:
This is one of the Debt Securities of
the series designated therein referred
to in the within-mentioned Indenture.
U.S. BANK NATIONAL ASSOCIATION,
as Trustee
	​

	​

	​

	​

	By:
	/s/ K. Wendy Kumar         
	​
	Authentication Date: July 21, 2020

	​
	    Authorized Signatory
	​
	​

​

7
​

[REVERSE OF NOTE]
UDR, INC.
MEDIUM-TERM NOTE, SERIES A
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE, FULLY AND UNCONDITIONALLY GUARANTEED BY UNITED DOMINION REALTY, L.P.
 (Fixed Rate)
This Note is one of a duly authorized series of Debt Securities (the “Debt Securities”) of the Company issued and to be issued under an Indenture, dated as of November 1, 1995, as supplemented by the first supplemental indenture thereto, dated as of May 3, 2011, as further amended, modified or supplemented from time to time (the “Indenture”), between the Company (successor by merger to United Dominion Realty Trust, Inc., a Virginia corporation) and U.S. Bank National Association, successor trustee to Wachovia Bank, National Association (formerly known as First Union National Bank of Virginia), as trustee (the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Debt Securities, and of the terms upon which the Debt Securities are, and are to be, authenticated and delivered.  This Note is one of the series of Debt Securities designated as “Medium-Term Notes, Series A Due Nine Months or More From Date of Issue, Fully and Unconditionally Guaranteed by United Dominion Realty, L.P.” (the “Notes”).  All terms used but not defined in this Note or in an Addendum hereto shall have the meanings assigned to such terms in the Indenture or on the face hereof, as the case may be.
United Dominion Realty, L.P., a Delaware limited partnership (the “Operating Partnership”), as primary obligor and not merely as surety, hereby irrevocably and unconditionally guarantees to the Holder and to the Trustee and their successors and assigns (a) the full and punctual payment when due, whether at the Maturity Date, by acceleration or otherwise, of all obligations of the Company now or hereafter existing under the Indenture whether for principal of or interest on the Notes (and premium and Make-Whole Amount, if applicable) and all other monetary obligations of the Company under the Indenture and the Notes and (b) the full and punctual performance within the applicable grace periods of all other obligations of the Company under the Indenture and the Notes (all such obligations guaranteed hereby by the Operating Partnership being the “Guarantee”). The Holder of this Note may enforce its rights under the Guarantee directly against the Operating Partnership without first making a demand or taking action against the Company or any other person or entity. The Operating Partnership may, without the consent of the Holder of this Note, assume all of the Company’s rights and obligations under this Note and, upon such assumption, the Company will be released from its liabilities under the Indenture and this Note. 
This Note is issuable only in registered form without coupons in minimum denominations of U.S. $2,000 and integral multiples of $1,000 or other Authorized Denomination specified on the face hereof.

8
​

This Note will not be subject to any sinking fund and, unless otherwise specified on the face hereof in accordance with the provisions of the following two paragraphs, will not be redeemable or repayable prior to the Stated Maturity Date.
This Note will be subject to redemption at the option of the Company on any date on or after the Initial Redemption Date, if any, specified on the face hereof, in whole or from time to time in part in increments of U.S. $1,000 or other integral multiple of an Authorized Denomination (provided that any remaining principal amount hereof shall be at least U.S. $1,000 or such other minimum Authorized Denomination), at the Redemption Price (as defined below), together with unpaid interest accrued thereon to the date fixed for redemption (the “Redemption Date”), on written notice given to the Holder hereof (in accordance with the provisions of the Indenture) not more than 60 nor less than 15 calendar days prior to the Redemption Date.  The “Redemption Price” shall be an amount equal to the Initial Redemption Percentage specified on the face hereof (as adjusted by the Annual Redemption Percentage Reduction, if any, specified on the face hereof) multiplied by the unpaid principal amount of this Note to be redeemed.  The Initial Redemption Percentage, if any, shall decline at each anniversary of the Initial Redemption Date by the Annual Redemption Percentage Reduction, if any, until the Redemption Price is 100% of unpaid principal amount to be redeemed.  In the event of redemption of this Note in part only, a new Note of like tenor for the unredeemed portion hereof and otherwise having the same terms and provisions as this Note shall be issued by the Company in the name of the Holder hereof upon the presentation and surrender hereof.
This Note will be subject to repayment by the Company at the option of the Holder hereof on the Optional Repayment Date(s), if any, specified on the face hereof, in whole or in part in increments of U.S. $1,000 or other integral multiple of an Authorized Denomination (provided that any remaining principal amount hereof shall be at least U.S. $1,000 or such other minimum Authorized Denomination), at a repayment price equal to 100% of the unpaid principal amount to be repaid, together with unpaid interest accrued thereon to the date fixed for repayment (the “Repayment Date”).  For this Note to be repaid, the Trustee must receive at its corporate trust office in the Borough of Manhattan, The City of New York, not more than 60 nor less than 30 calendar days prior to the Repayment Date, such Note and instructions to such effect forwarded by the Holder hereof.  Exercise of such repayment option by the Holder hereof shall be irrevocable.  In the event of repayment of this Note in part only, a new Note of like tenor for the unrepaid portion hereof and otherwise having the same terms and provisions as this Note shall be issued by the Company in the name of the Holder hereof upon the presentation and surrender hereof.
If this Note is specified on the face hereof to be a Discount Note, the amount payable to the Holder of this Note in the event of redemption, repayment or acceleration of maturity will be equal to the sum of (1) the Issue Price specified on the face hereof (increased by any accruals of the Discount, as defined below) and, in the event of any redemption of this Note (if applicable), multiplied by the Initial Redemption Percentage (as adjusted by the Annual Redemption Percentage Reduction, if applicable) and (2) any unpaid interest accrued thereon to the Redemption Date, Repayment Date or date of acceleration of maturity, as the case may be.  The difference between the Issue Price and 100% of the principal amount of this Note is referred to herein as the “Discount”.

9
​

For purposes of determining the amount of Discount that has accrued as of any Redemption Date, Repayment Date or date of acceleration of maturity of this Note, such Discount will be accrued so as to cause the yield on the Note to be constant.  The constant yield will be calculated using a 30-day month, 360-day year convention, a compounding period that, except for the Initial Period (as defined below), corresponds to the shortest period between Interest Payment Dates (with ratable accruals within a compounding period) and an assumption that the maturity of this Note will not be accelerated.  If the period from the Original Issue Date to the initial Interest Payment Date (the “Initial Period”) is shorter than the compounding period for this Note, a proportionate amount of the yield for an entire compounding period will be accrued.  If the Initial Period is longer than the compounding period, then such period will be divided into a regular compounding period and a short period, with the short period being treated as provided in the preceding sentence.
The covenants set forth in Section 1004(a) and Section 1007 of the Indenture shall not apply to this Note, and the following covenants shall instead apply to this Note in place of the covenants set forth in Section 1004(a) and Section 1007 of the Indenture:
“The Trust will, and will cause the Subsidiaries to, have at all times Total Unencumbered Assets of not less than 150% of the aggregate principal amount of all of the Trust’s outstanding Unsecured Debt and the outstanding Unsecured Debt of the Subsidiaries, determined on a consolidated basis in accordance with GAAP. 
The Trust will not, and will not permit any Subsidiary to, incur any Debt if, immediately after giving effect to the incurrence of such additional Debt and the application of the proceeds thereof, the aggregate principal amount of all outstanding Debt of the Trust and its Subsidiaries on a consolidated basis determined in accordance with GAAP is greater than 65% of the sum of (without duplication) (i) the Trust’s Total Assets as of the end of the calendar quarter covered in the Trust’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as the case may be, most recently filed with the Commission (or, if such filing is not permitted under the Exchange Act, with the Trustee) prior to the incurrence of such additional Debt and (ii) 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 Trust or any Subsidiary since the end of such calendar quarter, including those proceeds obtained in connection with the incurrence of such additional Debt. 
‘Total Unencumbered Assets’ means the sum of, without duplication, those Undepreciated Real Estate Assets which are not subject to a lien securing Debt and all other assets, excluding accounts receivable and intangibles, of the Trust and the Subsidiaries not subject to a lien securing Debt, all determined on a consolidated basis in accordance with GAAP; provided, however, that all investments by the Trust and the Subsidiaries in unconsolidated joint ventures, unconsolidated limited partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be excluded from Total Unencumbered 

10
​

Assets to the extent that such investments would have otherwise been included.”
If an Event of Default shall occur and be continuing, the principal of the Notes may, and in certain cases shall, be accelerated in the manner and with the effect provided in the Indenture.
The Indenture contains provisions for defeasance of (i) the entire indebtedness of the Notes or (ii) certain covenants and Events of Default with respect to the Notes, in each case upon compliance with certain conditions set forth therein, which provisions apply to the Notes.
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Debt Securities at any time by the Company and the Trustee with the consent of the Holders of a majority of the aggregate principal amount of all Debt Securities at the time outstanding and affected thereby.  The Indenture also contains provisions permitting the Holders of a majority of the aggregate principal amount of the outstanding Debt Securities of any series, on behalf of the Holders of all such Debt Securities, to waive compliance by the Company with certain provisions of the Indenture.  Furthermore, provisions in the Indenture permit the Holders of a majority of the aggregate principal amount of the outstanding Debt Securities of any series, in certain instances, to waive, on behalf of all of the Holders of Debt Securities of such series, certain past defaults under the Indenture and their consequences.  Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and other Notes issued upon the registration of transfer hereof or in exchange heretofore or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.
No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay principal, premium, if any, and interest in respect of this Note at the times, places and rate or formula, and in the coin or currency, herein prescribed.
As provided in the Indenture and subject to certain limitations therein and herein set forth, the transfer of this Note is registrable in the Security Register of the Company upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal hereof and any premium or interest hereon are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes having the same terms and provisions, of Authorized Denominations and for the same aggregate principal amount, will be issued by the Company to the designated transferee or transferees.
As provided in the Indenture and subject to certain limitations therein and herein set forth, this Note is exchangeable for a like aggregate principal amount of Notes of different Authorized Denominations but otherwise having the same terms and provisions, as requested by the Holder hereof surrendering the same.

11
​

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Holder as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary, except as required by law.
THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE COMMONWEALTH OF VIRGINIA.
​

12
​

ABBREVIATIONS
The following abbreviations, when used in the inscription on the face of this Note, shall be construed as though they were written out in full according to applicable laws or regulations:
	TEN COM 
	- as tenants in common
	UNIF GIFT MIN ACT
	- ________ Custodian ______

	TEN ENT
	- as tenants by the entireties
	​
	    (Cust)                  (Minor)

	JT TEN
	- as joint tenants with right of
survivorship and not as tenants
in common
	​
	under Uniform Gifts to Minors Act ____________________
                              (State)

	​
	Additional abbreviations may also be used though not in the above list.

​
__________________________________
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
PLEASE INSERT SOCIAL SECURITY OR
OTHER
IDENTIFYING NUMBER OF ASSIGNEE  
	​

	​

	​

	​

	​
	​

​
	​

	​

(Please print or typewrite name and address including postal zip code of assignee)
	​

	​

this Note and all rights thereunder hereby irrevocably constituting and appointing 
	​

	​

Attorney to transfer this Note on the books of the Company, with full power of substitution in the premises.
	

	​

	​

	​

	Dated:
	​
	​
	​

	​
	​
	​
	​

	​
	​
	​
	Notice:  The signature(s) on this Assignment must correspond with the name(s) as written upon the face of this Note in every particular, without alteration or enlargement or any change whatsoever.

​
​
​

13
​

​

​
UDR, INC.
ADDENDUM TO MEDIUM-TERM NOTE
(Fixed Rate)
The Company may redeem all or part of this Note at any time at its option at a redemption price equal to the greater of (1) the principal amount of this Note being redeemed plus accrued and unpaid interest to the redemption date or (2) the Make-Whole Amount for the principal amount of this Note being redeemed.  If this Note is redeemed on or after May 1, 2032 (three months prior to the maturity date) (the “Par Call Date”), the redemption price will equal the principal amount of this Note being redeemed plus accrued and unpaid interest to the redemption date. 
“Make-Whole Amount” means, as determined by the Quotation Agent, the sum of the present values of the principal amount of this Note to be redeemed, together with the scheduled payments of interest (exclusive of interest to the redemption date) from the redemption date to the Par Call Date of this Note being redeemed, in each case 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 accrued and unpaid interest on the principal amount of this Note being redeemed to the redemption date.
“Adjusted Treasury Rate” means, with respect to any redemption date, the sum of (x) either (1) the yield for the maturity corresponding to the Comparable Treasury Issue, under the heading that represents the average for the immediately preceding week, appearing in the most recent published statistical release designated “H.15” or any successor publication that is published weekly by the Board of Governors of the Federal Reserve System and that establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities” (provided, if no maturity is within three months before or after the remaining term of this Note, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounded to the nearest month) or (2) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using 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, in each case calculated on the third business day preceding the redemption date, and (y) 0.250%.
“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of this Note (assuming, for this purpose, that this Note matured on the Par Call Date) 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 this Note (assuming, for this purpose, that this Note matured on the Par Call Date).
​

​

​

“Comparable Treasury Price” means, with respect to any redemption date, (x) the average of three Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations so obtained, or (y) if fewer than five Reference Treasury Dealer Quotations are so obtained, the average of all such Reference Treasury Dealer Quotations so obtained.
“Quotation Agent” means the Reference Treasury Dealer selected by the indenture trustee after consultation with the Company.
“Reference Treasury Dealer” means any of J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities, LLC and two other nationally recognized investment banking firms selected by the Company that are primary U.S. Government securities dealers and their respective successors and assigns.
“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the indenture trustee, 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 indenture trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date.

2
​Exhibit 10.1

  

   

  

  
    

    

    October 13, 2020

    

    

    

    

    Henning Jakobsen

    

    

    

    Dear Henning:

    

    

    This letter of agreement and general release (“Agreement”) confirms our mutual agreement regarding the terms and conditions of your separation from
      employment with Colgate-Palmolive Company, its parent, and each of their subsidiaries and affiliates (“Colgate” or the “Company”).  You and the Company agree as follows:

    

    

    
      	
              1.

            	
              Employment.  Your last day of employment with the
                Company will be December 31, 2020 (“Last Day of Employment”).  You will continue to receive your salary at your regular rate of pay through your Last Day of Employment; however, your title will change from Chief Financial Officer to Senior
                Vice President effective on or around November 9, 2020.  Any expense reports must be submitted by your Last Day of Employment, and the Company will reimburse you for any approved expenses as soon as administratively feasible in accordance
                with the Company’s policies and practices.  Where applicable, you must pay any outstanding Company credit card balance by your Last Day of Employment.

            

       

      

    

    
      	
              2.

            	
              Severance.  Upon execution of this Agreement and the
                release attached as Exhibit A which must be executed on, but not before, your Last Day of Employment with the Company, the expiration of the seven (7) day revocation period provided for in Paragraph 14(g) of this Agreement and in Exhibit A,
                and your return of all Company property, and provided you remain an employee in good standing and continue to satisfactorily perform your duties and responsibilities through your Last Day of Employment, the Company will provide you with the
                severance and transition benefits set forth in the Summary, attached hereto as Exhibit B and incorporated herewith (the “Summary”).  Notwithstanding any provision of this Agreement to the contrary, for purposes of Section 409A of the
                Internal Revenue Code of 1986, as amended (the “Code”), in no event shall the timing of your execution of this Agreement or release in Exhibit A, directly or indirectly, result in you designating the calendar year of payment of any amounts
                set forth in the Summary, and if a payment that is subject to the execution of this Agreement and the release in Exhibit A could be made in more than one taxable year, payment shall be made in the later taxable year.

            

       

      

      
        
          

      

      

    
       

      

      	
              3.

            	
              Release.

            

       

      

    

    
      	
              a)

            	
              In consideration of (i) the severance and transition benefits set forth in Paragraph 2 hereof and the Summary, and (ii) your eligibility to
                receive the severance and transition benefits by working through your Last Day of Employment, you agree to execute Exhibit A, and, in addition, to the fullest extent permitted by law you waive, release and forever discharge the Company and
                each of its past and current parents, subsidiaries, affiliates and each of its and their respective past and current directors, officers, trustees, employees, representatives, agents, employee benefit plans and such plans’ administrators,
                fiduciaries, trustees, recordkeepers and service providers, and each of its and their respective successors and assigns, each and all of them in their personal and representative capacities (collectively the “Company Releasees”) from any
                and all claims legally capable of being waived, grievances, injuries, controversies, agreements, covenants, promises, debts, accounts, actions, causes of action, suits, arbitrations, sums of money, attorneys’ fees, costs, damages, or any
                right to any monetary recovery or any other personal relief, whether known or unknown, in law or in equity, by contract, tort, law of trust or pursuant to U.S., Swiss and/or Danish federal, state or local statute, regulation, ordinance or
                common law, which you now have, ever have had, or may hereafter have, based upon or arising from any fact or set of facts, whether known or unknown to you, from the beginning of time until the date of execution of this Agreement, arising
                out of or relating in any way to your employment relationship with the Company or the Company Releasees or other associations with the Company or the Company Releasees or any termination thereof.  Without limiting the generality of the
                foregoing, this waiver, release, and discharge includes any claim or right, to the extent legally capable of being waived, based upon or arising under any U.S, Swiss, and/or Danish federal, state or local fair employment practices or equal
                opportunity laws, including, but not limited to, the Age Discrimination in Employment Act (29 U.S.C. Section 621, et seq.) (“ADEA”), the Older Workers’ Benefits Protection Act, the Rehabilitation Act of 1973, the Worker Adjustment and
                Retraining Notification Act, 42 U.S.C. Section 1981, Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Employee Retirement Income Security Act (“ERISA”) (including, but not limited to, claims for breach of fiduciary duty
                under ERISA), the Americans With Disabilities Act, and the Family and Medical Leave Act of 1993, including all amendments thereto.

            

       

      

    

    
      	
              b)

            	
              You also agree to waive any right to bring, maintain, or participate in a class action, collective action, or representative action against the
                Company and/or the Company Releasees to the fullest extent permitted by law.  You agree that you may not serve as a representative of a class action, collective action, or representative action, may not participate as a member of a class
                action, collective action, or representative action, and may not recover any relief from a class action, collective action, or representative action.  You further agree that if you are included within a class action, collective action, or
                representative action, you will take all steps necessary to opt-out of the action or refrain from opting in, as the case may be.  You are not waiving any right to challenge the validity of this Paragraph 3(b) on any grounds that may exist
                in law and equity.  However, the Company and the Company Releasees reserve the right to attempt to enforce this Agreement, including this Paragraph 3(b), in any appropriate forum.

            

    

    
       

      

      
        2

        
          

      

       

      

      	
              c)

            	
              Notwithstanding the generality of the foregoing, nothing herein constitutes a release or waiver by you of, or prevents you  from making or
                asserting:  (i) any claim or right you may have under COBRA; (ii) any claim or right you may have for unemployment insurance or workers’ compensation benefits; (iii) any claim to vested benefits under the written terms of a qualified
                employee pension benefit plan; (iv) any medical claim incurred during your employment that is payable under applicable medical plans or an employer-insured liability plan; (v) any claim or right that may arise after the execution of this
                Agreement; (vi) any claim or right you may have under this Agreement; or (vii) any claim that is not otherwise waivable under applicable law.  In addition, nothing herein shall prevent you from filing a charge or complaint with the Equal
                Employment Opportunity Commission (“EEOC”) or similar federal or state agency or your ability to participate in any investigation or proceeding conducted by such agency; provided, however, that pursuant to Paragraph 3(a), you are waiving
                any right to recover monetary damages or any other form of personal relief in connection with any such charge, complaint, investigation or proceeding. To the extent you receive any personal or monetary relief in connection with any such
                charge, complaint, investigation or proceeding, the Company will be entitled to an offset for the payments made pursuant to Paragraph 2 of this Agreement.

            

       

      

    

    
      	
              4.

            	
              Violations of Any Law or of the Company’s Code of Conduct

            

       

      

    

    	

          	a)	
            You hereby agree, promise and covenant that during your employment with the Company: (i) you did not violate any U.S. or foreign federal, state, or local law, statute,
              or regulation while acting within the scope of your employment with the Company; and (ii) you did not violate the Company’s Code of Conduct while acting within the scope of your employment with the Company (collectively, “Violations”);

          

    

    

    	

          	b)	
            You acknowledge and understand that if the Company should discover any such Violation(s) as
                described in Paragraph 4(a) after your execution of this Agreement and/or your separation from employment with the Company, it will be considered a material breach of this Agreement, and all of the Company’s obligations to you
              hereunder will become immediately null and void; and

          

    

    

    	

          	c)	
            You further represent that: (i) you are not aware of any Violation(s) committed by a Company employee, vendor, or customer acting within the scope of his/her/its
              employment or business with the Company that have not been previously reported to the Company; or (ii) to the extent you are aware of any such unreported Violation(s), you will, prior to or within ten (days) after your execution of this
              Agreement, report such Violation(s) to Global Ethics & Compliance.

          

    

    

    
      	
              5.

            	
              Return of Property.  Upon termination of your
                employment, you agree to promptly return to the Company all of its property, including, but not limited to, computers, PDA’s, cell phones, files, documents, identification cards, credit cards, keys, equipment, software and data, however
                stored.

            

       

      

    

    
      	
              6.

            	
              No Additional Entitlements.  You agree that: (i) you
                have received all entitlements due from the Company relating to your employment with the Company, including but not limited to, all wages earned, sick pay, vacation pay, overtime pay, and any paid and unpaid personal leave for which you
                were eligible and entitled, and that no other entitlements are due to you other than as set forth in this Agreement; and (ii) the Company shall have the right to deduct from the amounts payable pursuant to this Agreement any money owed to
                the Company by you for a loan or advance paid to you by the Company during your employment, when allowable by the loan agreement and applicable law.

            

       

      

      
        3

        
          

      

       

      

    

    
      	
              7.

            	
              Transition. You agree that you will assist the Company
                with an orderly and professional transition of your responsibilities through your Last Day of Employment.

            

       

      

    

    
      	
              8.

            	
              Cooperation. You agree that upon the Company’s
                reasonable notice to you, you shall cooperate with the Company and its counsel (including, if necessary, preparation for and appearance at depositions, hearings, trials or other proceedings) with regard to any past, present or future legal
                or regulatory matters that relate to or arise out of matters you have knowledge about or have been involved with during your employment with the Company.  In the event that such cooperation is required, you will be reimbursed for reasonable
                expenses incurred in connection therewith.

            

       

      

    

    
      	
              9.

            	
              Confidentiality of the Agreement.  Except as expressly
                permitted in Paragraph 12 of this Agreement and/or as otherwise required by law, the parties, including the Company Releasees, shall not
                disclose the terms of this Agreement, or the circumstances or allegations giving rise to this Agreement, to any person other than their respective attorneys, immediate family members, accountants, financial advisors or corporate employees
                who have a business need to know such terms in order to approve or implement such terms.

            

       

      

    

    
      	
              10.

            	
              Protection of Confidential Information, Non-Competition and Other
                    Restrictive Covenants.  Except as expressly permitted in Paragraph 12 of this Agreement or if otherwise required by law:

            

       

      

    

    
      	
              a)

            	
              You hereby acknowledge your existing obligation to maintain the confidentiality of the Company’s information as contained in the Company’s Code
                of Conduct.  You affirm that you agreed to be bound by the Code of Conduct when you signed the Code of Conduct Certification (which is hereby incorporated by this reference).

            

       

      

    

    
      	
              b)

            	
              Without limiting the generality of the foregoing obligations set forth in Paragraph 10(a), you agree that you will not, at any time, directly or
                indirectly, disclose any trade secret, confidential or proprietary information you have learned by reason of your association with the Company (the “Confidential Information”) or use any such Confidential Information to the detriment of the
                Company, its parents, affiliates or subsidiaries, or to the benefit of any business or enterprise that competes with the Company, its parents, affiliates or subsidiaries.  Confidential Information is deemed to include, but is not limited
                to, information pertaining to Company strategic plans, advertising and marketing plans, sales plans, formulae, processes, methods, machines, ideas, concepts, new product developments, proposed launches, discontinuance of existing products,
                product and consumer testing data, sales and market research, technology research and development, budgets, profit and loss data, raw material costs, identity of suppliers, customer lists, customer information, non-public information about
                employees that is maintained as confidential by the Company, improvements, inventions, and associations with other organizations that the Company has not previously made public.  Confidential Information does not include information that
                can be shown by written evidence to be in the public domain at the time of disclosure by you or that is publicized or otherwise becomes part of the public domain through no fault of your own.

            

       

      

      
        4

        
          

      

       

      

    

    
      	
              c)

            	
              You further agree and acknowledge that, as part of your employment with the Company, you were exposed to Confidential Information as described
                above, and that the Confidential Information of the Company and/or any affiliate to which you have been exposed will be of particular value to competitors of the Company and affiliates and would not ordinarily be readily and freely
                available to such competitors.  You further acknowledge that if you were to become directly or indirectly engaged in the operations of or be concerned or interested in or become employed by a competitor of the Company or an affiliate, a
                risk of exposure of the Confidential Information of the Company or affiliate would arise which, if such exposure occurred, would harm the Company or affiliate.

            

       

      

    

    
      	
              d)

            	
              You further acknowledge and agree that the Company’s ability to successfully operate its business depends on its retaining skilled employees and
                that the Company and its affiliates have invested and will continue to invest substantial resources in training such employees.

            

       

      

    

    
      	
              e)

            	
              In consideration of the foregoing, and as a condition to the receipt of the severance and transition benefits set forth in Paragraph 2 above and the
                Summary, and subject to applicable local law, you covenant and agree that, at all times during your employment and for the term of the Company Convenience Benefit Period (the “Restrictive Covenant Period”), you will not, without the prior
                written consent of Colgate’s Chief Human Resources Officer or Chief Legal Officer, either directly or indirectly, for yourself or on behalf of or in conjunction with any other person, partnership, corporation or other entity, engage in any
                of the following prohibited activities (each, a “Restrictive Covenant”):

            

    

    

    

    	

          	(i)	
            In any country, geography, territory, region or division with respect to which you have worked, provided services or advised the Company in any capacity, serve as a
              director, officer, employee, consultant, contractor or advisor, provide services or advice in any capacity, or acquire any ownership interest in an entity that manufactures, markets, sells, develops, distributes or produces Covered Products
              (as defined below).  Notwithstanding the Restrictive Covenants set forth herein, you will not be considered to be in violation of such Restrictive Covenants solely by reason of owning, directly or indirectly, up to 5% in the aggregate of any
              class of securities of any publicly-traded corporation engaged in the prohibited activities described above;

          

     

    	

          	(ii)	
            With respect to Covered Products, induce or attempt to induce any customer, supplier, licensee or other business relation of the Company (A) with which you had,
              directly or indirectly, contact or dealings on behalf of the Company, or (B) for which you have received or acquired Confidential Information during the twelve-month period prior to your Last Day of  Employment with the Company to cease or
              diminish doing business with the Company or in any way interfere with the relationship between any such customer, supplier, licensee or business relation and the Company;

          

     

    
      5

      
        

    

     

    

    	

          	(iii)	
            With respect to Covered Products, solicit or canvas (or attempt to solicit or canvas) the trade or patronage of, or sell (or attempt to sell) to any former, existing or
              prospective customer of the Company for (A) whom you provided services, (B) which you have received or acquired Confidential Information, or (C) which you had significant responsibility as an employee of the Company during the twelve-month
              period prior to your Last Day of Employment.  A “prospective customer” of the Company is a person or entity with whom the Company was engaged in communications or negotiations to provide services or sell Covered Products; or

          

     

    	

          	(iv)	
            In any way, including through someone else acting on your recommendation, suggestion, identification or advice, (A) solicit, employ or retain, any person who is
              employed by the Company during the Restrictive Covenant Period and/or during the six-month period prior to your Last Day of Employment with the Company, or (B) otherwise induce or attempt to induce (i) any such employee to terminate his or
              her employment with the Company or to accept any position with any other entity or (ii) any prospective employee not to establish an employment relationship with the Company.  A “prospective employee” is a person who is in communications or
              negotiations to become an employee of the Company.

          

     

    	

          	(v)	
            For purposes of these Restrictive Covenants:

          

     

    	

          	(A)	
            The term “Company” means Colgate-Palmolive Company and/or one of its subsidiaries, as applicable.

          

     

    	

          	(B)	
            The term “Covered Products” means any product, composition, formulation, process, machine, or service of any person or organization, other than the Company, in
              existence, being researched or under development that resembles or competes with, or is intended to compete with, a product, composition, formulation, process, machine or service being researched or under development, produced, distributed,
              marketed, sold or licensed by the Company (i) related to any aspect of any one of the Company’s lines of business on which you have worked during the twelve-month period prior to your Last Day of Employment, or (ii) for which you have
              received, acquired or contributed to Confidential Information.

          

     

    
      	
              f)

            	
              You agree that (a) the terms and provisions of these Restrictive Covenants are reasonable; (b) the consideration provided by the Company under this
                Agreement including the Summary is not illusory; (c) the Restrictive Covenants are necessary and reasonable for the protection of the legitimate business interests and goodwill of the Company; and (d) the consideration given by the Company
                under this Agreement including the Summary gives rise to the Company’s interest in the Restrictive Covenants.

            

    

    

    

    
      	
              g)

            	
              In the event that you are subject to other written restrictive covenants with the Company and/or an Affiliate not expressly referenced or included
                in this Agreement, including restrictive covenants under equity grants, you acknowledge and agree that each such covenant is independently enforceable notwithstanding differences in geographic scope and/or duration, if any, and, in the
                event of a conflict between such additional covenants and the Restrictive Covenants herein, the broader geographic scope and duration shall govern.

            

    

    

    

    
      6

      
        

    

    

    

    
      	
              h)

            	
              If, at the time of enforcement of this Paragraph, a court or tribunal holds that any Restrictive Covenant stated herein is excessive, unreasonable
                or unenforceable under applicable law, you and the Company agree that such covenant shall be amended or modified by the court or tribunal to render it enforceable to the maximum extent permitted by law.

            

    

    

    

    
      	
              11.

            	
              Non-Disparagement.

            

       

      

    

    
      	
              a)

            	
              Except as expressly permitted in Paragraph 12 of this Agreement, you agree that you shall not at any time make any written or verbal comments or
                statements of a defamatory or disparaging nature regarding the Company and/or the Company Releasees or their personnel or products and you shall not take any action that would cause the Company and/or the Company Releasees or their
                personnel or products any embarrassment or humiliation or otherwise cause or contribute to their being held in disrepute.

            

       

      

    

    
      	
              b)

            	
              The Company agrees that it will use its best efforts to ensure that none of its representatives makes any written or verbal comments or
                statements of a defamatory or disparaging nature regarding you or takes any action that would cause you any embarrassment or humiliation or otherwise cause or contribute to your being held in disrepute while they are employed by the Company
                and acting in their capacity as Company representatives.

            

       

      

    

    
      	
              12.

            	
              Permitted Conduct.    Nothing in this Agreement shall
                prohibit or restrict you  from lawfully (A) initiating communications directly with, cooperating with, providing information to, causing information to be provided to, or otherwise assisting in an investigation by any governmental or
                regulatory agency, entity, or official(s) (collectively, “Governmental Authorities”) regarding a possible violation of any law; (B) responding to any inquiry or legal process directed to you individually (and not directed to the Company
                and/or its subsidiaries) from any such Governmental Authorities; (C) testifying, participating or otherwise assisting in an action or proceeding by any such Governmental Authorities relating to a possible violation of law; or (D) making any
                other disclosures that are protected under the whistleblower provisions of any applicable law.   Additionally, pursuant to the federal Defend Trade Secrets Act of 2016, you shall not be held criminally or civilly liable under any federal or
                state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of
                reporting or investigating a suspected violation of law; or (b) is made to your attorney in relation to a lawsuit for retaliation against you for reporting a suspected violation of law; or (c) is made in a complaint or other document filed
                in a lawsuit or other proceeding, if such filing is made under seal.  Nor does this Agreement require you to obtain prior authorization from the Company before engaging in any conduct described in this paragraph, or to notify the Company
                that you have engaged in any such conduct.

            

       

      

    

    
      	
              13.

            	
              Non-Admission.  It is understood and agreed that
                neither the execution of this Agreement, including Exhibit A, nor the terms of the Agreement, including Exhibit A, constitute an admission of liability to you by the Company or the Company Releasees, and such liability is expressly denied. 
                It is further understood and agreed that no person shall use the Agreement, including Exhibit A, or the consideration paid pursuant thereto, as evidence of an admission of liability, inasmuch as such liability is expressly denied.

            

       

      

      
        7

        
          

      

       

      

    

    
      	
              14.

            	
              Acknowledgments.  You hereby acknowledge that:

            

       

      

    

    
      	
              a)

            	
              The Company advises you to consult with an attorney before signing this Agreement and Exhibit A;

            

       

      

    

    
      	
              b)

            	
              You have obtained independent legal advice from an attorney of your own choice with respect to this Agreement and all exhibits, or you have
                knowingly and voluntarily chosen not to do so;

            

       

      

    

    
      	
              c)

            	
              You are freely, voluntarily and knowingly entering into this Agreement after due consideration;

            

       

      

    

    
      	
              d)

            	
              You have had a minimum of twenty-one (21) days to review and consider this Agreement and  all exhibits;

            

       

      

    

    
      	
              e)

            	
              If you knowingly and voluntarily choose to do so, you may accept the terms of this Agreement before the twenty-one (21) day consideration period
                provided for in Paragraph 14(d) above has expired, and you will accept the terms of Exhibit A on, but not before, your Last Day of Employment with the Company;

            

       

      

    

    
      	
              f)

            	
              You and the Company agree that changes to the Company’s offer contained in this Agreement, whether material or immaterial, will not restart the
                twenty-one (21) day consideration period provided for in Paragraph 14(d) above;

            

       

      

    

    
      	
              g)

            	
              You have a right to revoke this Agreement and/or Exhibit A by notifying the undersigned Company representative in writing, via hand delivery,
                facsimile or electronic mail, within seven (7) days of your execution of this Agreement and/or Exhibit A;

            

       

      

    

    
      	
              h)

            	
              In exchange for your waivers, releases and commitments set forth herein, and in Exhibit A, including your waiver and release of all claims
                arising under the Age Discrimination in Employment Act, the payments, benefits and other considerations that you are receiving pursuant to this Agreement and all exhibits exceed any payment, benefit or other thing of value to which you
                would otherwise be entitled, and are just and sufficient consideration for the waivers, releases and commitments set forth herein; and

            

       

      

    

    
      	
              i)

            	
              No promise or inducement has been offered to you, except as expressly set forth herein, and you are not relying upon any such promise or
                inducement in entering into this Agreement and/or Exhibit A.  Your employment remains at-will and this Agreement does not confer upon you any right or obligation to continue in the employ of the Company for any period of time.

            

       

      

    

    
      	
              15.

            	
              Revocation by the Company.  You agree that if you fail
                to execute and return this Agreement to the Company within the time specified herein for your review and consideration, the promises and agreements made by the Company herein will be revoked.

            

       

      

    

    
      	
              16.

            	
              Medicare Disclaimer.  You acknowledge that you are not
                a Medicare Beneficiary as of the time you enter into this Agreement.  To the extent that you are a Medicare Beneficiary, you agree to contact a Company Human Resources Representative for further instruction.

            

       

      

      
        8

        
          

      

       

      

    

    
      	
              17.

            	
              Miscellaneous.

            

       

      

    

    
      	
              a)

            	
              Entire Agreement.  This Agreement, including all
                exhibits, sets forth the entire agreement between you and the Company and replaces any other oral or written agreement between you and the Company relating to the subject matter of this Agreement and all exhibits, except for your prior
                obligations of confidentiality   and any restrictive covenants set forth in equity agreements as referenced in Paragraph 10 above, which shall continue in full force and effect.

            

       

      

    

    
      	
              b)

            	
              Governing Law.  This Agreement, including all
                exhibits, shall be construed, performed, enforced and in all respects governed in accordance with the laws of the State of New York, without giving effect to the principles of conflicts of law thereof.  Additionally, all disputes arising
                from or related to this Agreement and/or exhibits shall be brought in a state or federal court situated in the State of New York, New York County and the parties hereby expressly consent to the jurisdiction of such courts for all purposes
                related to resolving such disputes.

            

       

      

    

    
      	
              c)

            	
              Severability.  Should any provision of this Agreement,
                including any exhibits, be held to be void or unenforceable, the remaining provisions shall remain in full force and effect, to be read and construed as if the void or unenforceable provisions were originally deleted.

            

       

      

    

    
      	
              d)

            	
              Amendments.  This Agreement may not be modified or
                amended, except upon the express written consent of both you and the Company.

            

       

      

    

    
      	
              e)

            	
              Breach.  You acknowledge that if you breach your
                commitments to the Company agreed upon in Paragraphs 4, 5, 7, 8, 9, 10 and/or 11, you will forfeit the severance and transition benefits set forth in Paragraph 2 and be subject to suit by the Company for damages and equitable relief
                relating to such breach.

            

       

      

    

    
      	
              f)

            	
              Waiver.  A waiver by either party hereto of a breach
                of any term or provision of the Agreement, including all exhibits, shall not be construed as a waiver of any subsequent breach.

            

       

      

    

    
      	
              g)

            	
              Counterparts.  This Agreement, including Exhibit A,
                may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.

            

       

      

    

    
      	
              h)

            	
              Effective Date.  This Agreement shall become
                immediately effective upon the expiration of the seven (7) day revocation period described above, provided you have not exercised your right to revoke.  However, you will not receive the severance and transition benefits set forth in
                Paragraph 2 and the Summary unless and until you execute Exhibit A on, but not before, your Last Day of Employment with the Company and
                the seven (7) day revocation periods provided for in Paragraph 14(h) and Exhibit A have expired without revocation by you.

            

       

      

      
        9

        
          

      

       

      

    

    
      	
              i)

            	
              Section 409A of the Code. To the extent applicable,
                this Agreement, including Exhibits A and B, is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and will be interpreted accordingly. References under this Agreement to your Last Day of
                Employment will be deemed to refer to the date upon which you experienced a “separation from service” within the meaning of Section 409A of the Code. Notwithstanding anything in this Agreement to the contrary, if required by Section 409A of
                the Code, if you are considered a “specified employee” for purposes of Section 409A of the Code and if payment of any amounts under this Agreement is required to be delayed for a period of six months after separation from service pursuant
                to Section 409A of the Code, payment of such amounts shall be delayed as required by Section 409A of the Code, and the accumulated amounts shall be paid in a lump sum payment within ten days after the end of the six-month period. To the
                extent any reimbursements or in-kind benefits due to you under this Agreement constitute “deferred compensation” under Section 409A of the Code, any such reimbursements or in-kind benefits will be paid to you in a manner consistent with
                Treasury Regulation Section 1.409A-3(i)(1)(iv). For purposes of Section 409A of the Code, to the extent applicable, each payment made under this Agreement will be designated as a “separate payment” within the meaning of Section 409A of the
                Code.

            

    

    

    

     

    [Signature Page Follows]

     

    

    

    
      10

      
        

    

     

    If the above accurately states our agreement, including the separation, waiver and release, kindly sign below and return this original Agreement to me by
      no later than November 3, 2020.  I will sign it and return a copy to you.  Please sign and return Exhibit A on, but not before, your Last Day of Employment with the Company.

    

    

    
      	
               

            	Sincerely,	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	COLGATE-PALMOLIVE COMPANY	
               

            
	 	 	 	 
	
               

            	
               

            	
               

            	
               

            
	
               

            	By:

            	/s/ Sally Massey	
               

            
	
               

            	
               

            	Sally Massey	
               

            
	
               

            	
               

            	Chief Human Resources Officer	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	

            	
               

            	
               

            
	
               

            	Date: October 28, 2020	
               

            
	 	 	 	 
	 	 	 	 
	 	
              UNDERSTOOD, AGREED TO

                AND ACCEPTED WITH THE

              

              INTENTION TO BE LEGALLY BOUND: 

            	 
	 	 	 	 
	 	/s/ Henning Jakobsen  	 
	 	Henning Jakobsen 

            	 
	 	 	 	 
	 	 	 	 
	 	Date: October 26, 2020

            	 

    

    

    

    

    

    

    Enclosures

     

    

    
      11

      
        

    

    
    

    

    EXHIBIT A

    

    

    AGREEMENT AND RELEASE

    

    

    In exchange for the payments, benefits and other consideration provided by Colgate-Palmolive Company (“Colgate” or the “Company”) as set forth in the
      letter of agreement and general release dated October 13, 2020 (the “October 13, 2020 Agreement”), which I acknowledge and agree are just and sufficient consideration for the waivers, releases and commitments set forth herein, I, Henning Jakobsen,
      hereby IRREVOCABLY AND UNCONDITIONALLY agree to WAIVE, RELEASE AND FOREVER DISCHARGE the Company and the Company Releasees (as defined in Paragraph 3(a) of the October 13, 2020 Agreement) from any and all claims legally capable of being waived,
      grievances, injuries, controversies, agreements, covenants, promises, debts, accounts, actions, causes of action, suits, arbitrations, sums of money, attorneys’ fees, costs, damages, or any right to any monetary recovery or any other personal relief,
      whether known or unknown, in law or in equity, by contract, tort, law of trust or pursuant to U.S., Swiss and/or Danish federal, state or local statute, regulation, ordinance or common law, which I now have, ever have had, or may hereafter have,
      based upon or arising from any fact or set of facts, whether known or unknown to me, from the beginning of time until the date I execute this Exhibit A, arising out of or relating in any way to my employment relationship with the Company or the
      Company Releasees or other associations with the Company or the Company Releasees or any termination thereof.  Without limiting the generality of the foregoing, this waiver, release, and discharge includes any claim or right, to the extent legally
      capable of being waived, based upon or arising under any U.S., Swiss and/or Danish federal, state or local fair employment practices or equal opportunity laws, including, but not limited to, the Age Discrimination in Employment Act (29 U.S.C. Section
      621, et seq.) (“ADEA”), the Older Workers’ Benefits Protection Act, the Rehabilitation Act of 1973, the Worker Adjustment and Retraining Notification Act, 42 U.S.C. Section 1981, Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the
      Employee Retirement Income Security Act (“ERISA”) (including, but not limited to, claims for breach of fiduciary duty under ERISA), the Americans with Disabilities Act, and the Family and Medical Leave Act of 1993, including all amendments thereto,
      provided that nothing herein constitutes a release or waiver of any claim or right that may arise after the execution of this Exhibit A.

    

    

    I also agree to waive any right to bring, maintain, or participate in a class action, collective action, or representative action against the Company
      and/or the Company Releasees to the fullest extent permitted by law.  I agree that I may not serve as a representative of a class action, collective action, or representative action, may not participate as a member of a class action, collective
      action, or representative action, and may not recover any relief from a class action, collective action, or representative action.  I further agree that if I am included within a class action, collective action, or representative action, I will take
      all steps necessary to opt-out of the action or refrain from opting in, as the case may be.  I am not waiving any right to challenge the validity of this Paragraph on any grounds that may exist in law and equity.  However, the Company and the Company
      Releasees reserve the right to attempt to enforce this Agreement, including this Paragraph, in any appropriate forum.

    

    

    I understand and acknowledge that I have received all amounts due from the Company relating to my employment with the Company, including but not limited
      to, all wages earned, sick pay, personal leave pay, vacation pay, and/or overtime pay, and that no other amounts are due to me other than as set forth in the October 13, 2020 Agreement and all exhibits thereto.

    

    

    
      1

      
        

    

    

    

    Notwithstanding the generality of the foregoing, I understand that nothing herein constitutes a release or waiver by me of, or prevents me from making or
      asserting:  (i) any claim or right I may have under COBRA; (ii) any claim or right I may have for unemployment insurance or workers’ compensation benefits; (iii) any claim to vested benefits under the written terms of a qualified employee pension
      benefit plan; (iv) any medical claim incurred during my employment that is payable under applicable medical plans or an employer-insured liability plan; (v) any claim or right that may arise after the execution of this Agreement; (vi) any claim or
      right I may have under the October 13, 2020 Agreement or this Exhibit A; or (vii) any claim that is not otherwise waivable under applicable law.

    

    

    In addition, I understand that nothing herein shall prevent me from filing a charge or complaint with the Equal Employment Opportunity Commission (“EEOC”)
      or similar federal or state agency or my ability to participate in any investigation or proceeding conducted by such agency; provided, however, that I am waiving any right to recover monetary damages or any other form of personal relief in connection
      with any such charge, complaint, investigation or proceeding. To the extent I receive any personal or monetary relief in connection with any such charge, complaint, investigation or proceeding, the Company will be entitled to an offset for the
      payments made pursuant to Paragraph 2 of the October 13, 2020 Agreement.

    

    

    I further understand that nothing herein shall prohibit me from lawfully (A) initiating communications directly with, cooperating with, providing
      information to, causing information to be provided to, or otherwise assisting in an investigation by any governmental or regulatory agency, entity, or official(s) (collectively, “Governmental Authorities”) regarding a possible violation of any law;
      (B) responding to any inquiry or legal process directed to me individually (and not directed to the Company and/or its subsidiaries) from any such Governmental Authorities; (C) testifying, participating or otherwise assisting in an action or
      proceeding by any such Governmental Authorities relating to a possible violation of law; or (D) making any other disclosures that are protected under the whistleblower provisions of any applicable law.   Additionally, pursuant to the federal Defend
      Trade Secrets Act of 2016, I understand that I shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local
      government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made to my attorney in relation to a lawsuit for retaliation against me for
      reporting a suspected violation of law; or (c) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  Nor does the October 13, 2020 Agreement or this Exhibit A require me to obtain prior
      authorization from the Company before engaging in any conduct described in this paragraph, or to notify the Company that I have engaged in any such conduct.

    

    

    By signing this Exhibit A, I understand and acknowledge that I was advised of and afforded the opportunity to take advantage of each of the protections set
      forth in Paragraph 14 of the October 13, 2020 Agreement, including, but not limited to: (i) consultation with an attorney before signing this Exhibit A; (ii) twenty-one (21) days in which to consider Exhibit A; and (iii) seven (7) days following the
      execution of Exhibit A to revoke my acceptance of Exhibit A, provided that the revocation is received by hand delivery, facsimile or electronic mail, by the Company within that seven (7) day period.  I further acknowledge that I freely, voluntarily
      and knowingly entered into this Exhibit A after due consideration.

    

    

    
      2

      
        

    

    

    

    This Exhibit A shall become effective upon the expiration of the seven (7) day revocation period described above.  I understand and acknowledge that no
      payments will be made and no benefits will be provided to me until I have executed the October 13, 2020 Agreement and this Exhibit A and both seven (7) day revocation periods have expired without revocation by me.

    

    

    This Exhibit A incorporates by reference, as if set forth fully herein, all terms and conditions of the October 13, 2020 Agreement between the Company and
      me, including the recitation of consideration provided by the Company.  By signing this Exhibit A, I waive, release and forever discharge any and all claims that may have arisen through the date of my execution of this Exhibit A.  It is not my
      intention to otherwise change, alter or amend any of the terms and conditions of the October 13, 2020 Agreement, for which I received adequate consideration, and which Agreement remains in full force and effect.  I acknowledge and agree that I
      continue to be bound by the terms and conditions of the October 13, 2020 Agreement.

    

    

    I UNDERSTAND AND ACKNOWLEDGE THAT I SHALL EXECUTE THIS EXHIBIT A ON, BUT NOT BEFORE, MY LAST DAY OF EMPLOYMENT WITH THE COMPANY.

    

    

    

    

    

    

    
      
        	 	
                UNDERSTOOD, AGREED TO

                  AND ACCEPTED WITH THE

                

                INTENTION TO BE LEGALLY BOUND: 

              	 
	 	 	 	 
	 	

              	 
	 	Henning Jakobsen 

              	 
	 	 	 	 
	 	 	 	 
	 	Date:

              	

              	 

      

      

      

    

     

    
      3

      
        

    

    
     

    

    EXHIBIT B

    

    

    NAME:  Henning Jakobsen

    

    

    SUMMARY OF SEVERANCE AND TRANSITION BENEFITS

    

    

    Pursuant to Section 2 of your Agreement and General Release (the "Agreement"), this Exhibit B is a general summary of information relating to severance and
      transition benefits and enhancements that you may be eligible to receive following termination of your employment. You will be eligible to receive the severance and transition benefits and enhancements only if you properly execute, return, and do not
      revoke the Agreement. Capitalized terms not otherwise defined in this summary will have the meanings ascribed to such terms in the Agreement.

    

    

    SEVERANCE PAY

    Consistent with the terms of the February 15, 2019 letter agreement you entered into with the Company in your role as Chief Financial Officer, you will
      receive a lump sum cash severance payment equal to $1,275,000.00, less applicable withholdings and deductions. This amount represents 18 months of your base salary.

    

    

    If you do not execute and return the Agreement on your Last Day of Employment, this severance payment will be reduced by any amount paid between your Last Day
      of Employment and the date you sign and return the Agreement.

    

    

    You are considered a "specified employee" for purposes of Code Section 409A.  Therefore, notwithstanding any provision to the contrary, payment of this
      severance amount will be delayed for six months after your Last Day of Employment as required by Code Section 409A, and the amount will be paid in a lump sum within ten business days after the end of the six-month period.

    

    

    STOCK OPTIONS

    As of October 5, 2020 you have 346,319 stock options outstanding, of which 187,383 are vested and exercisable. Upon your Last Day of Employment, the remaining
      stock options from your current balance will become vested and exercisable.

     

    You will have the earlier of three years from your Last Day of Employment or the normal expiration of the option term to exercise your options.

     

    You will not be eligible to receive any additional stock option grants under the 2019 Incentive Compensation Plan (the “2019 Plan”).  For additional
      information, please review your most recent plan prospectus.

     

    
      1

      
        

    

    

    

    RESTRICTED STOCK UNITS (RSUs)

    As of October 5, 2020, you have 3,070.2839 RSUs outstanding (unvested), including accrued dividend equivalents.

     

    You will not be eligible to receive any additional restricted stock unit grants under the 2019 Incentive Compensation Plan (the “2019 Plan”).  For additional
      information, please review your most recent plan prospectus.

    

    

    PERFORMANCE BASED RESTRICTED STOCK UNITS (PBRSUs)

    You will be eligible for an award under the 2018-2020 Long-Term Global Growth Program (“LTGGP”), payable to you in cash, if earned.  Results are determined
      following the close of the calendar year and approved in February 2021.  Cash payments will be made in March 2021.

     

    You will be eligible for prorated portions of your Growth Performance Plan (“GPP”) award opportunities for the 2019-2021 and 2020-2022 performance cycles.  If
      company performance results in an award for either cycle, your GPP RSUs for each cycle will vest as soon as administratively practicable following the date on which the Personnel and Organization Committee certifies performance of the performance
      criteria.

    

    

    INCENTIVE COMPENSATION

    You will receive your Annual Executive Incentive Compensation Plan award payable in March 2021, less applicable withholdings and deductions, pursuant to
      applicable plan rules.

    

    

    ABOVE & BEYOND ALLOWANCE

    In accordance with the Above & Beyond Plan rules, you are eligible for a 2020 Above and Beyond allowance for covered expenses incurred through your Last
      Day of Employment.  If you have not yet received your full allowance, all requests for reimbursement must be made prior to your Last Day of Employment via ColgatePeople or by calling 1-888-982-7227, press "5", and then "3" to speak with a customer
      service representative.

    

    

    REPATRIATION

    The Company will provide you and your eligible dependents with economy class air transportation via the most direct route from the United States to your home
      country and transport of your household effects.  The Company will also provide you with lease assistance for your apartment located in New York City for up to four months, in an amount no greater than your current monthly lease payment of $17,850. 
      Any lease payments will be subject to applicable taxes.  In the event you are able to sublet your apartment for all or part of the four months, you agree to disclose the amount of the sub-lessee’s rent to the Company, which amount will be deducted
      from the amount provided to you by the Company.  The foregoing provisions apply only if you repatriate within 120 days from your Last Day of Employment. For further assistance with relocation, please contact Global Relocation (732-878-6061).

    

    

    
      2

      
        

    

    

    

    EMPLOYEE ASSISTANCE PROGRAM (EAP)

    Coverage under the Employee Assistance Program continues for a period of three months following your Last Day of Employment. Call (888) 270-9243 at any time
      to speak with a GuidanceResources® information specialist.

    

    

    KPMG FINANCIAL PLANNING RESOURCES

    The financial planning resources provided by KPMG are available for a period of six months following your Last Day of Employment. You may reach out to Jamie
      Seymour at 212-872-6753.

    

    

    BENEFIT PLANS

    Information on the Company benefit plans is provided below. Please note that the full terms and conditions of your benefit coverage can only be determined by
      reviewing the applicable plan documents, which shall control in all cases.

    

    

    Medical Plan

    You will receive medical coverage for you and your eligible dependents covered under the Medical Plan on your Last Day of Employment at no
      cost to you for 18 months from the end of the month in which your Last Day of Employment falls.

    

    

    After this free coverage ends, as you are retirement eligible, you may elect coverage under the Retiree Medical Plan for you and your
      eligible covered dependents. The Company and you will share in the cost of Company-provided retiree medical coverage through monthly contributions, similar to the way you pay for coverage as an active employee. Your portion is based on your age and
      years of service with the Company at the end of the month in which your Last Day of Employment falls. Additional details will be sent to you in your retirement package from the Benefits Information Center.

    

    

    Note that if you or a covered dependent is eligible for Medicare (i.e., age 65 or older; or eligible for Medicare due to a disability),
      either now or during the period of free coverage, you should enroll in Medicare Part A and Medicare Part B in accordance with the time frame required by Medicare even though you have continued coverage through Colgate. (Note that you do not need to
      enroll in a Medicare Part D prescription drug plan; the Colgate plans provide for prescription drug coverage.) In most cases, if you do not sign up for Medicare Part B when first eligible, Medicare will assess a late enrollment penalty. This penalty
      has to be paid for as long as you have Part B. There is no action that Colgate can take to alter Medicare rules or penalties. The rules are complex, so it is suggested that you access www.medicare.gov for additional information and/or contact
      Medicare.

    

    

    
      3

      
        

    

    

    

    Note that as with active medical coverage, the employer contribution toward the cost of medical coverage for a domestic partner will be
      included in your taxable income and subject to federal, state and local income taxes and Social Security taxes (FICA). This imputed income will be reported on your annual W-2 form.

    

    

    Dental Plan

    You will receive dental coverage for you and your eligible dependents covered under the Dental Plan on your Last Day of Employment at no
      cost to you for 18 months from the end of the month in which your Last Day of Employment falls.  (Note that the free coverage will be provided under the Consolidated Omnibus Budget Reconciliation Act (COBRA) and that as with active dental coverage,
      the employer contribution toward the cost of medical coverage for a domestic partner will be included in your taxable income and subject to federal, state and local income taxes and Social Security taxes (FICA).)  After this free coverage period
      ends, you be able to continue dental coverage using the following option:

    

    

    Access Dental Plan

    You will have access to retiree dental coverage at group rates.  You can enroll in the Access Dental Plan directly with MetLife at
      1-800-GETMET8 who will send you additional information under separate cover. This Access Dental Plan is only available in the U.S.

    

    

    Group Life Insurance

    Your active life insurance coverage will continue through the last day of the month in which your Last Day of Employment falls.  You will
      then be automatically enrolled in Colgate’s life insurance plan for retirees at no cost to you.  Details regarding this coverage will be sent to you in your retirement package from the Benefit Information Center.

    

    

    You may be eligible to convert or port all or a portion of your contributory life insurance with The Hartford by calling 1-877-320-0484.
      You will receive additional information from The Hartford within 3 weeks of your Last Day of Employment. You will then have 60 days from the receipt of that information to make your decision.

    

    

    Accidental Death & Dismemberment (AD&D), Dependent Life & Dependent Accidental Death & Dismemberment
        Insurance Plans

    Coverage will cease as of your Last Day of Employment.

    

    

    You may be eligible to convert or port any dependent life insurance with The Hartford by calling 1-877-320-0484. You will receive
      additional information from The Hartford within 3 weeks of your Last Day of Employment. You will then have 60 days from the receipt of that information to make your decision.

    

    

    
      4

      
        

    

    

    

    Vision Plan

    Coverage will cease as of your Last Day of Employment.

    

    

    You will have the option to continue vision coverage on an employee pay all basis plus 2% for administrative expenses. The extension of
      coverage is in compliance with your rights under the Consolidated Omnibus Budget Reconciliation Act (COBRA).  This period of optional COBRA coverage will be up to 18 months.

    

    

    Short/Long Term Disability and Travel Accident Plans

    All coverage ceases as of your Last Day of Employment.

    

    

    Dependent Care/Health Care Accounts

    You do not participate in these plans.

    

    

    Savings & Investment Plan

    Your contributions, Company Match, Basic Retirement Contributions and Additional Basic Retirement Contributions, if eligible, will continue
      through your Last Day of Employment in accordance with the Company’s Savings and Investment Plan (S&I Plan) rules.

    

    

    Detailed information regarding your S&I Plan account distribution options will be mailed to you from the Benefits Information Center. 
      You can access your account at any time by logging on to www.colgatebenefits.com or by calling the Benefits Information Center at 1-888-982-7227 and following the prompts for "savings".  If you would like to elect a distribution you may do so online
      or by calling the Benefits Information Center after your Last Day of Employment.

    

    

    If you have any questions regarding the Agreement, including all Exhibits, please contact your HR Business Partner.

    

    

    If you have any questions regarding this Summary of Severance and Transition Benefits, please contact Ernst & Young at 1-877-313-CPEY(2739) or
      1-201-872-6677 from 9:00 a.m. to 8:00 p.m. Eastern Time, Monday through Friday.

    

    

    The Company reserves the right, in its sole and absolute discretion, to amend any of the plans referenced herein, at any time and for any reason. Further, the
      full terms and conditions of any of the benefit plans referenced herein can only be determined by reviewing the respective plan documents. If there is any inconsistency between those plan documents and information contained herein, the plan documents
      will control.

    

    

  

  5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00316-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00316-of-00352.parquet"}]]