Document:

Exhibit 10.36

 

2007
Cash Incentive Plan

 

Purpose:

 

The terms of the 2007 Cash
Incentive Plan (the “Plan”) have been established to reward the Company’s
executives and other employees for assisting the Company in achieving its
operational goals through exemplary performance. Under the Plan, cash bonuses,
if any, will be based on both the achievement of specified individual and
corporate goals as well as a review of personal performance, which is
determined at the discretion of the Compensation Committee of the Board of
Directors (the “Compensation Committee”) and/or the Board of Directors (the “Board”).

 

Determination of 2007 Cash
Bonuses:

 

The pool for potential cash
bonuses under the Plan may range from 0% to a maximum of 60% of the recipients
2007 base salary. The target bonuses for participants in the Plan will be based
the achievement of a combination of objective Company performance goals,
appropriately tailored for Plan participants. The objective Company performance
goals for each participant will be based on meeting certain goals with respect
to the Company’s financial performance, clinical development of product
candidates and building the pipeline of potential product candidates, as well
as other Company performance goals to be determined by the Compensation
Committee. The Board and Compensation Committee reserve the right to modify
these goals and criteria at any time or to grant bonuses to the participants
even if the performance goals are not met.Exhibit 10.1

EXECUTION COPY

Opening Transaction

	
  

  	
  EMC Corporation

  
	
  To:

  	
  176 South Street

  
	
   

  	
  Hopkinton, MA 01748

  
	
   

  	
   

  
	
  From:

  	
  JPMorgan Chase Bank, National Association, London
  Branch

  
	
   

  	
   

  
	
  Re:

  	
  Convertible Bond Hedge Transaction

  
	
   

  	
   

  
	
  Ref. No:

  	
  [Insert Reference Number]

  
	
   

  	
   

  
	
  Date:

  	
  November 13, 2006

  

 

Dear Sir(s):

The purpose of this communication (this “Confirmation”) is to set forth the terms
and conditions of the above-referenced transaction entered into on the Trade Date
specified below (the “Transaction”) between JPMorgan
Chase Bank, National Association, London Branch (“Dealer”)
and EMC Corporation (“Counterparty”). This communication
constitutes a “Confirmation” as referred to in the ISDA
Master Agreement specified below.

1.     This
Confirmation is subject to, and incorporates, the definitions and provisions of
the 2000 ISDA Definitions (including the Annex thereto) (the “2000 Definitions”) and the definitions
and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with
the 2000 Definitions, the “Definitions”), in each case as
published by the International Swaps and Derivatives Association, Inc. (“ISDA”). In the event of any
inconsistency between the 2000 Definitions and the Equity Definitions, the
Equity Definitions will govern. Certain defined terms used herein have the
meanings assigned to them in the Indenture to be dated as of November 17, 2006
between Counterparty and Wells Fargo Bank, N.A., as trustee (the “Indenture”) relating to the USD1,725,000,000 principal
amount of 1.75% convertible senior notes due December 1, 2013 (the “Convertible Debentures”)
and the USD1,725,000,000
principal amount of 1.75% convertible senior notes due December 1, 2011. In the event of any inconsistency between the
terms defined in the Indenture and this Confirmation, this Confirmation shall
govern. For the avoidance of doubt, (i) the Transaction shall be the only transaction
under the Agreement; and (ii) references herein to sections of the Indenture
are based on the draft of the Indenture most recently reviewed by the parties
at the time of execution of this Confirmation. If any relevant sections of the
Indenture are changed, added or renumbered upon execution of this Confirmation,
the parties will amend this Confirmation in good faith to preserve the economic
intent of the parties. Furthermore, for the avoidance of doubt, even if all
Convertible Debentures cease to be outstanding prior to the Expiration Date (as
set forth below), for purposes of the references herein to sections of the
Indenture, the Convertible Debentures shall be deemed to remain outstanding. The
Transaction is subject to early unwind if the closing of the Convertible
Debentures is not consummated for any reason, as set forth below in Section
8(k).

Each party is hereby advised, and each such party acknowledges, that
the other party has engaged in, or refrained from engaging in, substantial
financial transactions and has taken other material actions in

JPMorgan
Chase Bank, National Association

Organised under the laws of the United States as a National Banking
Association.

Main Office 1111 Polaris Parkway, Columbus, Ohio 43271

Registered as a branch in England & Wales branch No. BR000746. Registered

Branch Office 125 London Wall, London EC2Y 5AJ

Authorised and regulated by the Financial Services Authority

reliance upon the parties’ entry into the Transaction
to which this Confirmation relates on the terms and conditions set forth below.

This Confirmation evidences a complete and binding
agreement between Dealer and Counterparty as to the terms of the Transaction to
which this Confirmation relates. This Confirmation shall be subject to an
agreement (the “Agreement”) in the form of the
1992 ISDA Master Agreement as if Dealer and Counterparty had executed an
agreement in such form on the date hereof (but without any Schedule except for
(i) the election of Loss and Second Method and US Dollars (“USD”) as the Termination Currency and (ii) the replacement
of the word “third” in the last line of Section 5(a)(i) with the word “first”).

All provisions contained in, or incorporated by
reference to, the Agreement will govern this Confirmation except as expressly
modified herein. In the event of any inconsistency between this Confirmation and
either the Definitions or the Agreement, this Confirmation shall govern.

2.     The
Transaction constitutes a Share Option Transaction for purposes of the Equity
Definitions. The terms of the particular Transaction to which this Confirmation
relates are as follows:

General Terms:

	
  Trade Date:

  	
  November 13, 2006

  
	
   

  	
   

  
	
  Effective Date:

  	
  November 17, 2006 or such other date as agreed by
  the parties.

  
	
   

  	
   

  
	
  Option Style:

  	
  American

  
	
   

  	
   

  
	
  Option Type:

  	
  Call

  
	
   

  	
   

  
	
  Seller:

  	
  Dealer

  
	
   

  	
   

  
	
  Buyer:

  	
  Counterparty

  
	
   

  	
   

  
	
  Shares:

  	
  The Common Stock of Counterparty, par value USD 0.01
  per share (Ticker Symbol: “EMC”).

  
	
   

  	
   

  
	
  Number of
  Options:

  	
  The number of Convertible Debentures in
  denominations of USD1,000 principal amount issued by Counterparty on the
  closing date for the initial issuance of the Convertible Debentures. For the
  avoidance of doubt, the Number of Options outstanding shall be reduced by
  each exercise of Options hereunder.

  
	
   

  	
   

  
	
  Option Entitlement:

  	
  As of any date, a
  number of Shares per Option equal to the Conversion Rate (as defined in the
  Indenture, but without regard to any adjustments to the Conversion Rate
  pursuant to Section 12.4(f) or Sections 12.1(e)(1), (2) and (3) of the Indenture) as of such date. For
  the avoidance of doubt, the Option Entitlement shall take into consideration
  any Public Acquirer Change in Control Adjustments (as defined below), subject
  to the conditions set forth under “Consequences of Merger Events.”

  
	
   

  	
   

  
	
  Strike Price:

  	
  As of any date, an amount in USD, rounded to the
  nearest cent (with 0.5 cents being rounded upwards),

  

 

 2
 

 

	
  

  	
  equal to USD1,000 divided by
  the Option Entitlement as of such date.

  
	
   

  	
   

  
	
  Number of
  Shares:

  	
  The product of the Number of Options and the Option
  Entitlement.

  
	
   

  	
   

  
	
  Premium:

  	
  USD382,777,500.00 (Premium per Option USD221.9000).

  
	
   

  	
   

  
	
  Premium Payment
  Date:

  	
  The Effective Date

  
	
   

  	
   

  
	
  Exchange:

  	
  New York Stock Exchange

  
	
   

  	
   

  
	
  Related
  Exchange:

  	
  All Exchanges

  
	
   

  	
   

  
	
  Procedures for
  Exercise:

  	
   

  
	
   

  	
   

  
	
  Independent
  Threshold Date:

  	
  The earlier to occur of (x) any Conversion Date (as
  defined below) that is not also an Exercise Date and (y) the first Exercise
  Date on which Counterparty exercises a number of Options not equal to the
  number of Relevant Convertible Debentures (as defined below) in denominations
  of USD1,000 principal amount submitted for conversion on such date, if any,
  in accordance with the terms of the Indenture.

  
	
   

  	
   

  
	
  Conversion Date:

  	
  Each “Conversion Date”, as defined in the Indenture,
  occurring during the Exercise Period for Convertible Debentures other than
  Convertible Debentures with respect to which Counterparty makes the direction
  described in Section 12.2(a)(3) of the Indenture and the financial
  institution designated by Counterparty accepts such Convertible Debentures in
  accordance with Section 12.2(a)(3) of the Indenture (such Convertible
  Debentures, other than those excluded above, the “Relevant Convertible Debentures” for such Conversion Date).

  
	
   

  	
   

  
	
  Exercise Period:

  	
  The period from and excluding the Trade Date to and
  including the Expiration Date.

  
	
   

  	
   

  
	
  Expiration Date:

  	
  The scheduled “Trading Day”, as defined in the
  Indenture, immediately preceding December 1, 2013.

  
	
   

  	
   

  
	
  Multiple
  Exercise:

  	
  Applicable.

  
	
   

  	
   

  
	
  Minimum Number
  of Options:

  	
  Zero

  
	
   

  	
   

  
	
  Maximum Number
  of Options:

  	
  Number of Options

  
	
   

  	
   

  
	
  Integral
  Multiple:

  	
  One

  
	
   

  	
   

  
	
  Automatic
  Exercise:

  	
  Applicable; subject to the provisions of “Notice of
  Exercise” below.

  
	
   

  	
   

  
	
  Notice of
  Exercise:

  	
  Notwithstanding anything to the contrary in the
  Equity Definitions, (x) in order to exercise any Options on any Exercise Date
  that precedes the

  

 

 3
 

 

	
  

  	
  Independent Threshold Date, Counterparty must notify
  Dealer in writing prior to 5:00 PM, New York City time, on the Exchange
  Business Day prior to the first Scheduled Trading Day of the “Observation
  Period”, as defined in the Indenture, relating to the Relevant Convertible
  Debentures converted on the Conversion Date on which such Exercise Date
  occurs (the “Notice Deadline”)
  of (i) the relevant Exercise Date, (ii) the number of Options being exercised
  on such Exercise Date, (iii) the scheduled settlement date under the
  Indenture for the Relevant Convertible Debentures converted on the Conversion
  Date on which such Exercise Date occurs, (iv) the first day of the relevant
  Observation Period, and (v) the applicable Cash Percentage (as defined in the
  Indenture); provided that, notwithstanding
  the foregoing, such notice shall be effective so long as it relates to an
  Exercise Date that would not have been the Independent Threshold Date, if the
  notice were delivered by the Notice Deadline and the notice is given after
  the Notice Deadline but prior to 5:00 PM (New York City time) on the fifth
  Exchange Business Day of such Observation Period and prior to the Independent
  Threshold Date (it being understood that such delayed notice does not itself
  cause the Independent Threshold Date to occur), in which event the
  Calculation Agent shall have the right to adjust the Delivery Obligation as
  appropriate to reflect the additional costs (including, but not limited to,
  hedging mismatches and market losses) and expenses incurred by Dealer or any
  of its affiliates in connection with its hedging activities (including the
  unwinding of any hedge position) as a result of its not having received such
  notice prior to the Notice Deadline; and (y) in order to exercise any Options
  on any Exercise Date that is or is following the Independent Threshold Date,
  Counterparty must notify Dealer in writing prior to 5:00 PM, New York City
  time, on the Exchange Business Day prior to the first Scheduled Trading Day
  of the “Observation Period”, determined as if the Exercise Date were a
  Conversion Date, as defined in the Indenture, of (i) the relevant Exercise
  Date, (ii) the number of Options being exercised on such Exercise Date, (iii)
  the first day of the Observation Period (determined in accordance with
  Section 1.1 of the Indenture for Relevant Convertible Debentures for the
  corresponding Conversion Date, if any, or, if such Exercise Date did not
  occur on a Conversion Date, determined in accordance with Section 1.1 of the Indenture
  as if such Exercise Date were a Conversion Date) and (iv) the applicable Cash
  Percentage and,

  

 

 4
 

 

	
  

  	
  except for any Exercise Date occurring during the
  period from and including November 1, 2013 to and including the Expiration
  Date, Counterparty shall also make in such written notice representations,
  warranties and agreements set forth in Sections 7(a)(i) and (ii) hereof; provided that, in either case, with respect to any
  Exercise Dates occurring during the period starting on and including November
  1, 2013 to and including the Expiration Date, Counterparty may provide a
  single notice containing the information required above with respect to such
  Exercise Dates. For the avoidance of doubt, if an exercise of Options is in
  connection with a conversion of the Relevant Convertible Debentures,
  Counterparty shall designate the Exercise Date in its Notice of Exercise as
  the corresponding Conversion Date.

  
	
   

  	
   

  
	
  Dealer’s
  Telephone Number and Telex and/or Facsimile Number and Contact Details for
  purpose of Giving Notice:

  	
  To:

  	
  JPMorgan Chase Bank, National Association

  
	
   

  	
   

  	
  277 Park Avenue, 11th Floor

  
	
   

  	
   

  	
  New York, NY 10172

  
	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
  Nathan Lulek

  
	
   

  	
   

  	
  EDG Corporate Marketing

  
	
   

  	
  Telephone No.:

  	
  (212) 622-2262

  
	
   

  	
  Facsimile No.:

  	
  (212) 622-8091

  
	
   

  	
   

  
	
  Settlement
  Terms:

  	
   

  
	
   

  	
   

  
	
  Settlement Date:

  	
  In respect of an Exercise Date occurring on a
  Conversion Date, the settlement date for the Shares or cash to be delivered
  under the Relevant Convertible Debentures under the terms of the Indenture;
  in respect of any other Exercise Date, the date one Settlement Cycle
  immediately following the relevant Observation Period.

  
	
   

  	
   

  
	
  Delivery
  Obligation:

  	
  In lieu of the obligations set forth in Sections 8.1
  and 9.1 of the Equity Definitions, and subject to “Notice of Exercise” above,
  in respect of any Exercise Date, Dealer will deliver to Counterparty, on the
  related Settlement Date, a number of Shares and/or an amount of cash, as
  determined by the Calculation Agent (and, if such Exercise Date does not
  occur on a Conversion Date or, if the number of Options being exercised on
  such Exercise Date differs from the number of the Relevant Convertible
  Debentures for the Conversion Date that coincides with such Exercise Date, as
  if such Exercise Date were a

  

 

 5
 

 

	
  

  	
  Conversion Date for a number of Relevant Convertible
  Debentures equal to the number of Options being exercised on such Exercise
  Date), to be equal to (i) the aggregate number of Shares that Counterparty is
  (or would have been) obligated to deliver to holder(s) of the Relevant
  Convertible Debentures for such Conversion Date pursuant to Section 12.2 of
  the Indenture (rounded down to the nearest whole number); (ii) an amount of
  cash, if any, in USD in lieu of any fractional Share resulting from rounding
  of such aggregate number of Shares valued at the Relevant Price on the last
  day of the relevant Observation Period; and/or (iii) the aggregate amount of
  cash that Counterparty is (or would have been) obligated to deliver in lieu
  of “Maximum Deliverable Shares”, as defined in the Indenture (other than in
  lieu of fractional Shares if any Shares will be delivered under clause (i)
  above) to the holder(s) of the Relevant Convertible Debentures converted (or
  that would have been converted) on such Conversion Date pursuant to Section
  12.2(a)(2) of the Indenture and (collectively, the “Convertible Obligation”); provided that such obligation shall be
  determined excluding any Shares or cash that Counterparty is obligated (or
  would have been obligated) to deliver to holder(s) of the Relevant
  Convertible Debentures as a result of any adjustments to the Conversion Rate
  pursuant to Section 12.2(a)(3) of the Indenture but taking into consideration
  any Public Acquirer Change in Control Adjustments (as defined below), subject
  to the conditions set forth under “Consequences of Merger Events.” For the
  avoidance of doubt, if the “Daily Conversion Value”, as defined in the
  Indenture, is (or would have been) less than or equal to USD50 for each of
  the Trading Days occurring in the relevant Observation Period, Dealer will
  have no delivery obligation hereunder.

  
	
   

  	
   

  
	
  Notice of
  Delivery Obligation:

  	
  No later than the Exchange Business Day immediately
  following the last day of the Observation Period, Counterparty shall give
  Dealer notice of the final number of Shares and/or the amount of cash
  comprising the relevant Convertible Obligation; provided
  that, with respect to any Exercise Date occurring during the period from and
  including November 1, 2013 to and including the Expiration Date, Counterparty
  may provide Dealer with a single notice of the aggregate number of Shares
  and/or the amount of cash comprising the Convertible Obligations for all
  Exercise Dates occurring during such period (it being understood, for the
  avoidance of doubt, that the requirement of

  

 

 6
 

 

	
  

  	
  Counterparty to deliver such notice shall not limit
  Counterparty’s obligations with respect to Notice of Exercise or Dealer’s
  obligations with respect to Delivery Obligation, each as set forth above, in
  any way).

  
	
   

  	
   

  
	
  Other Applicable
  Provisions:

  	
  To the extent Dealer is obligated to deliver Shares
  hereunder, the provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the
  Equity Definitions will be applicable as if “Physical Settlement” applied to
  the Transaction; provided that
  the Representation and Agreement contained in Section 9.11 of the Equity
  Definitions shall be modified by excluding any representations therein
  relating to restrictions, obligations, limitations or requirements under
  applicable securities laws as a result of the fact that Buyer is the issuer
  of the Shares.

  
	
   

  	
   

  
	
  Adjustments:

  	
   

  
	
   

  	
   

  
	
  Method of
  Adjustment:

  	
  Notwithstanding Section 11.2 of the Equity
  Definitions, upon the occurrence of any event or condition set forth in
  Sections 12.4(a), (b), (c), (d) or (e) of the Indenture, the Calculation
  Agent shall make the corresponding adjustment in respect of any one or more
  of the Number of Options, the Option Entitlement and any other variable
  relevant to the exercise, settlement or payment of the Transaction, to the
  extent an analogous adjustment is made under the Indenture. Immediately upon
  the occurrence of any Adjustment Event, Counterparty shall notify the
  Calculation Agent of such Adjustment Event; and once the adjustments to be
  made to the terms of the Indenture and the Convertible Debentures in respect
  of such Adjustment Event have been determined, Counterparty shall immediately
  notify the Calculation Agent in writing of the details of such adjustments.

  
	
   

  	
   

  
	
  Extraordinary
  Events:

  	
   

  
	
   

  	
   

  
	
  Merger Events:

  	
  Notwithstanding Section 12.1(b) of the Equity
  Definitions, a “Merger Event” means the occurrence of any event or condition
  set forth in Section 12.11 of the Indenture.

  
	
   

  	
   

  
	
  Consequences of
  Merger Events:

  	
  Notwithstanding Section 12.2 of the Equity
  Definitions, upon the occurrence of a Merger Event, the Calculation Agent
  shall make the corresponding adjustment in respect of any adjustment under
  the Indenture to any one or more of the nature of the Shares, the Number of
  Options, the Option Entitlement and any other variable relevant to the
  exercise, settlement or payment for the Transaction, to the extent an
  analogous adjustment is made under

  

 

 7
 

 

	
  

  	
  the Indenture; provided that such adjustment shall be made
  without regard to any adjustment to the Conversion Rate for the issuance of
  additional Shares as set forth in Sections 12.1(e)(1), (2) and (3) of the
  Indenture. Notwithstanding the foregoing, upon the occurrence of a Merger
  Event that constitutes a “Public Acquirer Change in Control”, as defined in
  the Indenture, with respect to which Counterparty elects to adjust the terms
  of the Convertible Debentures in accordance with Section 12.1(e)(4) of the
  Indenture (such a Public Acquirer Change in Control, a “PACC Event”),
  the Calculation Agent may adjust in good faith and a commercially reasonable
  manner any one or more of the nature of the Shares, the Number of Options,
  the Option Entitlement and any other variable relevant to the exercise,
  settlement or payment for the Transaction to preserve the fair value of the
  Transaction to Dealer (such adjustments, the “Public
  Acquirer Change in Control Adjustments”); provided
  that, as a condition precedent to the adjustments contemplated above,
  Counterparty and, if Counterparty is not the issuer of the “Public Acquirer
  Common Stock”, as defined in the Indenture, the issuer of the Public Acquirer
  Common Stock and Dealer, shall, prior to the effective date of such Public
  Acquirer Change in Control, have entered into such documentation containing
  representations, warranties and agreements relating to securities law and
  other issues as requested by Dealer that Dealer has determined, in its
  reasonable discretion, to be reasonably necessary or appropriate to allow
  Dealer to continue as party to the Transaction, as adjusted, and to preserve
  its hedging or hedge unwind activities in connection with the Transaction in
  a manner compliant with applicable legal, regulatory or self-regulatory
  requirements, or with related policies and procedures applicable to Dealer.

  
	
   

  	
   

  
	
  Nationalization,
  Insolvency or Delisting:

  	
  Cancellation and Payment (Calculation Agent
  Determination); provided that
  in addition to the provisions of Section 12.6(a)(iii) of the Equity
  Definitions, it will also constitute a Delisting if the Exchange is located
  in the United States and the Shares are not immediately re-listed, re-traded
  or re-quoted on any of the New York Stock Exchange, the American Stock
  Exchange, the NASDAQ Global Select Market or the NASDAQ Global Market (or
  their respective successors); if the Shares are immediately re-listed,
  re-traded or re-quoted on any such exchange or quotation system, such
  exchange or

  

 

 8
 

 

	
  

  	
  quotation system shall thereafter be deemed to be
  the Exchange.

  
	
   

  	
   

  
	
  Additional
  Disruption Events:

  	
   

  
	
   

  	
   

  
	
  (a)   Change in Law:

  	
  Applicable

  
	
   

  	
   

  
	
  (b)   Insolvency Filing:

  	
  Applicable

  
	
   

  	
   

  
	
  Hedging Party:

  	
  Dealer

  
	
   

  	
   

  
	
  Determining
  Party:

  	
  For all applicable Additional Disruption Events,
  Dealer

  
	
   

  	
   

  
	
  Non-Reliance:

  	
  Applicable

  
	
   

  	
   

  
	
  Agreements and Acknowledgments
  Regarding Hedging Activities:

  	
  Applicable

  
	
   

  	
   

  
	
  Additional
  Acknowledgments:

  	
  Applicable

  
	
   

  	
   

  
	
  3.     Calculation Agent:

  	
  Dealer.

  
	
   

  	
   

  
	
  4.     Account Details:

  	
   

  
	
   

  	
   

  
	
  Dealer Payment
  Instructions:

  	
   

  
	
   

  	
   

  
	
  JPMorgan Chase Bank,
  National Association, New York

  
	
  SWIFT:

  
	
  Bank Routing:

  
	
  Account Name: JPMorgan
  Chase Bank, National Association – London

  
	
  Account No. :

  
	
  Account
  for delivery of Shares from JPMorgan:

  
	
   

  
	
  Counterparty
  Payment Instructions:

  	
   

  
	
   

  	
   

  
	
  To be provided
  by Counterparty.

  	
   

  
	
   

  	
   

  
	
  5.     Offices:

  	
   

  
	
   

  	
   

  
	
  The Office of Dealer
  for the Transaction is: New York

  
	
   

  
	
  JPMorgan Chase Bank,
  National Association

  
	
  London Branch

  
	
  P.O. Box 161

  
	
  60 Victoria Embankment

  
	
  London EC4Y 0JP

  
	
  England

  
	
   

  
	
  The Office of
  Counterparty for the Transaction is:

  
	
   

  
	
  176 South Street,
  Hopkinton, MA 01748

  
	
   

  
	
  6.     Notices: For
  purposes of this Confirmation:

  
	
   

  
	
  (a)           Address for notices
  or communications to Counterparty:

  
	
   

  
	
  To:

  	
  EMC Corporation

  
	
  Attn:

  	
  Office of General Counsel

  
	
  Telephone:

  	
  (508) 435-1000

  
	
  Facsimile:

  	
  (508) 497-6915

  
				

 

 9
 

 

	
  (b)           Address for notices or communications to
  Dealer:

  
	
   

  
	
  To:

  	
  JPMorgan Chase Bank, National Association

  
	
   

  	
  277 Park Avenue,
  11th Floor

  
	
   

  	
  New York, NY
  10172

  
	
  Attention:

  	
  Nathan Lulek

  
	
   

  	
  EDG Corporate Marketing

  
	
  Telephone No.:

  	
  (212) 622-2262

  
	
  Facsimile No.:

  	
  (212) 622-8091

  

 

7.               Representations,
Warranties and Agreements:

(a)           In
addition to the representations and warranties in the Agreement and those
contained elsewhere herein, Counterparty represents and warrants to and for the
benefit of, and agrees with, Dealer as follows:

(i)            On the
Trade Date and each date on which Counterparty delivers a Notice of Exercise
relating to an Exercise Date that is or is following the Independent Threshold
Date (other than any Exercise Date occurring during the period from and including
November 1, 2013 to and including the Expiration Date) (A) none of Counterparty
and its officers and directors is aware of any material nonpublic information
regarding Counterparty or the Shares and (B) all reports and other documents
filed by Counterparty with the Securities and Exchange Commission pursuant to
the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
when considered as a whole (with the more recent such reports and documents
deemed to amend inconsistent statements contained in any earlier such reports
and documents), do not contain any untrue statement of a material fact or any
omission of a material fact required to be stated therein or necessary to make
the statements therein, in the light of the circumstances in which they were
made, not misleading.

(ii)           (A) On
the Trade Date and each date on which Counterparty delivers a Notice of
Exercise relating to an Exercise Date that is or is following the Independent
Threshold Date (other than any Exercise Date occurring during the period from
and including November 1, 2013 to and including the Expiration Date), the
Shares or securities that are convertible into, or exchangeable or exercisable
for Shares, are not, and will not be, subject to a “restricted period,” as such
term is defined in Regulation M under the Exchange Act (“Regulation M”)
and (B) Counterparty is not engaged in and will not engage in any “distribution,”
as such term is defined in Regulation M, other than a distribution meeting the
requirements of the exceptions set forth in sections 101(b)(10) and 102(b)(7)
of Regulation M, until the second Exchange Business Day immediately following
the Trade Date or the last day of the related Observation Period, as the case
may be.

(iii)          On
the Trade Date, neither Counterparty nor any “affiliate” or “affiliated
purchaser” (each as defined in Rule 10b-18 of the Exchange Act (“Rule 10b-18”)) shall directly or indirectly (including,
without limitation, by means of any cash-settled or other derivative instrument,
other than the Transaction and the convertible bond hedge transactions entered
into by Counterparty and each of Citibank, N.A., Dresdner Bank AG, New York
Branch and Deutsche Bank AG, London Branch on the Trade Date simultaneously
with the Transaction) purchase, offer to purchase, place any bid or limit order
that would effect a purchase of, or commence any tender offer relating to, any
Shares (or an equivalent interest, including a unit of beneficial interest in a
trust or limited partnership or a depository share) or any security convertible
into or exchangeable or exercisable for Shares, except through Goldman, Sachs
& Co.

(iv)          Without
limiting the generality of Section 13.1 of the Equity Definitions, Counterparty
acknowledges that Dealer is not making any representations or warranties with
respect to the treatment of the Transaction under FASB Statements 149 or 150,
EITF Issue No. 00-19 (or any successor issue statements) or under FASB’s
Liabilities & Equity Project.

 10
 

(v)           Without
limiting the generality of Section 3(a)(iii) of the Agreement, the Transaction
will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act.

(vi)          Prior to
the Trade Date, Counterparty shall deliver to Dealer a resolution of
Counterparty’s board of directors authorizing the Transaction and such other
certificate or certificates as Dealer shall reasonably request.

(vii)         Counterparty
is not entering into this Confirmation to create actual or apparent trading
activity in the Shares (or any security convertible into or exchangeable for
Shares) or to raise or depress or otherwise manipulate the price of the Shares
(or any security convertible into or exchangeable for Shares) or otherwise in
violation of the Exchange Act.

(viii)        Counterparty
is not, and after giving effect to the transactions contemplated hereby will
not be, an “investment company” as such term is defined in the Investment
Company Act of 1940, as amended.

(ix)           On the
Trade Date (A) the assets of Counterparty at their fair valuation exceed the
liabilities of Counterparty, including contingent liabilities, (B) the capital
of Counterparty is adequate to conduct the business of Counterparty and (C)
Counterparty has the ability to pay its debts and obligations as such debts
mature and does not intend to, or does not believe that it will, incur debt
beyond its ability to pay as such debts mature.

(x)            The
representations and warranties of Counterparty set forth in Section 3 of the
Agreement and Section 1 of the Purchase Agreement dated as of November 13, 2006
between Counterparty and Goldman, Sachs & Co., Lehman Brothers Inc. and
Citigroup Global Markets Inc. as representatives of the Initial Purchasers
party thereto (the “Purchase Agreement”)
are true and correct as of the Trade Date, the Effective Date and the
Additional Premium Payment Date and are hereby deemed to be repeated to Dealer
as if set forth herein.

(xi)           Counterparty
understands that no obligations of Dealer to it hereunder will be entitled to
the benefit of deposit insurance and that such obligations will not be
guaranteed by any affiliate of Dealer or any governmental agency.

(b)           Each of Dealer
and Counterparty agrees and represents that it is an “eligible contract
participant” as defined in Section 1a(12) of the U.S. Commodity Exchange Act,
as amended.

(c)           Each of Dealer
and Counterparty acknowledges that the offer and sale of the Transaction to it
is intended to be exempt from registration under the Securities Act of 1933, as
amended (the “Securities Act”), by virtue of
Section 4(2) thereof. Accordingly, Counterparty represents and warrants to Dealer
that (i) it has the financial ability to bear the economic risk of its
investment in the Transaction and is able to bear a total loss of its
investment and its investments in and liabilities in respect of the
Transaction, which it understands are not readily marketable, are not
disproportionate to its net worth, and it is able to bear any loss in
connection with the Transaction, including the loss of its entire investment in
the Transaction, (ii) it is an “accredited investor” as that term is defined in
Regulation D as promulgated under the Securities Act, (iii) it is entering into
the Transaction for its own account and without a view to the distribution or
resale thereof, (iv) the assignment, transfer or other disposition of the
Transaction has not been and will not be registered under the Securities Act
and is restricted under this Confirmation, the Securities Act and state
securities laws, and (v) its financial condition is such that it has no need
for liquidity with respect to its investment in the Transaction and no need to
dispose of any portion thereof to satisfy any existing or contemplated
undertaking or indebtedness and is capable of assessing the merits of and
understanding (on its own behalf or through independent professional advice),
and understands and accepts, the terms, conditions and risks of the
Transaction.

(d)           Each of Dealer
and Counterparty agrees and acknowledges (A) that this Confirmation is (i) a “securities
contract,” as such term is defined in Section 741(7) of Title 11 of the United
States Code (the “Bankruptcy Code”),
with respect to which each payment and delivery hereunder is a “settlement

 11
 

payment,” as such term is defined in Section 741(8) of
the Bankruptcy Code, and (ii) a “swap agreement,” as such term is defined in
Section 101(53B) of the Bankruptcy Code, with respect to which each payment and
delivery hereunder is a “transfer,” as such term is defined in Section 101(54)
of the Bankruptcy Code, and (B) that Dealer is entitled to the protections
afforded by, among other sections, Section 362(b)(6), 362(b)(17), 546(e), 546(g),
555 and 560 of the Bankruptcy Code.

(e)           Counterparty
shall deliver to Dealer an opinion of counsel, dated as of the Trade Date and
reasonably acceptable to Dealer in form and substance, with respect to the
matters set forth in Section 3(a) of the Agreement.

8. Other Provisions:

(a)           Right to Extend. Dealer may postpone any Settlement Date or
any other date of delivery by Dealer, with respect to some or all of the
relevant Options, if Dealer determines, in its reasonable discretion, that such
extension is reasonably necessary or appropriate to preserve Dealer’s hedging
or hedge unwind activity hereunder in light of existing liquidity conditions or
to enable Dealer to effect purchases of Shares in connection with its hedging,
hedge unwind or settlement activity hereunder in a manner that would, if Dealer
were Counterparty or an affiliated purchaser of Counterparty, be in compliance
with applicable legal, regulatory or self-regulatory requirements, or with related
policies and procedures applicable to Dealer.

(b)           Additional Termination Events. The occurrence of (i) an
event of default with respect to Counterparty under the terms of the
Convertible Debentures as set forth in Section 5.1 of the Indenture that
results in an acceleration of the Convertible Debentures pursuant to the terms
of the Indenture, (ii) an Amendment Event or (iii) the occurrence of a PACC
Termination Event shall be an Additional Termination Event with respect to which
the Transaction is the sole Affected Transaction and Counterparty is the sole
Affected Party, and Dealer shall be the party entitled to designate an Early
Termination Date pursuant to Section 6(b) of the Agreement.

“Amendment Event”
means that Counterparty amends, modifies, supplements or obtains a waiver in
respect of any term of the Indenture or the Convertible Debentures governing
the principal amount, coupon, maturity, repurchase obligation of Counterparty,
redemption right of Counterparty, any term relating to conversion of the
Convertible Debentures (including changes to the conversion price, conversion
settlement dates or conversion conditions), or any term that would require
consent of the holders of not less than 100% of the principal amount of the
Convertible Debentures to amend, in each case without the prior consent of
Dealer, such consent not to be unreasonably withheld.

“PACC Termination Event”
means a PACC Event with respect to which (x) following good faith consultation
with Counterparty, the Calculation Agent determines that no Public Acquirer
Change in Control Adjustments would produce a commercially reasonable result or
(y) the Public Acquirer Change in Control Adjustments were not made because any
of the documentation requirements for such adjustments were not met.

(c)           Alternative Calculations and Payment on Early Termination and on
Certain Extraordinary Events. If Dealer shall owe Counterparty any
amount pursuant to Section 12.2 of the Equity Definitions and “Consequences of
Merger Events” above, or Sections 12.3, 12.6, 12.7 or 12.9 of the Equity
Definitions (except in the event of a Merger Event, in which the consideration
or proceeds to be paid to holders of Shares consists solely of cash) or
pursuant to Section 6(d)(ii) of the Agreement (except in the event of an Event
of Default in which Counterparty is the Defaulting Party or a Termination Event
in which Counterparty is the Affected Party, that resulted from an event or
events within Counterparty’s control) (a “Payment Obligation”),
Counterparty shall have the right, in its sole discretion, to require Dealer to
satisfy any such Payment Obligation by the Share Termination Alternative (as
defined below) by giving irrevocable telephonic notice to Dealer, confirmed in
writing within one Scheduled Trading Day, by 4:00 P.M. 

 12
 

New York City time on the
Merger Date, Announcement Date or Early Termination Date, as applicable (“Notice of Share Termination”). Upon such Notice of Share
Termination, the following provisions shall apply on the Scheduled Trading Day
immediately following the Merger Date, Announcement Date or Early Termination
Date, as applicable:

	
  Share Termination Alternative:

  	
  Applicable and means that Dealer shall deliver to
  Counterparty the Share Termination Delivery Property on the date on which the
  Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of
  the Equity Definitions or Section 6(d)(ii) of the Agreement, as applicable
  (the “Share Termination Payment Date”), in
  satisfaction of the Payment Obligation.

  
	
   

  	
   

  
	
  Share Termination Delivery Property:

  	
  A number of Share Termination Delivery Units, as
  calculated by the Calculation Agent, equal to the Payment Obligation divided
  by the Share Termination Unit Price. The Calculation Agent shall adjust the
  Share Termination Delivery Property by replacing any fractional portion of
  the aggregate amount of a security therein with an amount of cash equal to
  the value of such fractional security based on the values used to calculate
  the Share Termination Unit Price.

  
	
   

  	
   

  
	
  Share Termination Unit Price:

  	
  The value of property contained in one Share
  Termination Delivery Unit on the date such Share Termination Delivery Units
  are to be delivered as Share Termination Delivery Property, as determined by
  the Calculation Agent in its discretion by commercially reasonable means and
  notified by the Calculation Agent to Dealer at the time of notification of
  the Payment Obligation.

  
	
   

  	
   

  
	
  Share Termination Delivery Unit:

  	
  In the case of a Termination Event, Event of Default
  or Delisting, one Share or, in the case of an Insolvency, Nationalization or
  Merger Event, one Share or a unit consisting of the number or amount of each
  type of property received by a holder of one Share (without consideration of
  any requirement to pay cash or other consideration in lieu of fractional
  amounts of any securities) in such Insolvency, Nationalization or Merger
  Event. If such Insolvency, Nationalization or Merger Event involves a choice
  of consideration to be received by holders, such holder shall be deemed to
  have elected to receive the maximum possible amount of cash.

  
	
   

  	
   

  
	
  Failure to Deliver:

  	
  Applicable

  
	
   

  	
   

  
	
  Other applicable provisions:

  	
  If Share Termination Alternative is applicable, the
  provisions of Sections 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will
  be applicable as if “Physical Settlement” applied to the Transaction, except
  that all references to “Shares” shall be read as references to “Share
  Termination Delivery Units”; provided
  that the Representation and Agreement contained in Section 9.11 of the Equity
  Definitions shall be modified by excluding any representations therein
  relating to restrictions, obligations, limitations or requirements under
  applicable securities laws as a result of the fact that Buyer is the issuer
  of any Share Termination Delivery Units (or any part thereof).

  

 

(d)           Disposition of Hedge Shares. Counterparty hereby agrees that if, in the good faith reasonable judgment
of Dealer, the Shares (the “Hedge Shares”)
acquired by Dealer for the purpose of hedging its obligations pursuant to the
Transaction cannot be sold in the U.S. public market by Dealer

 13
 

without
registration under the Securities Act, Counterparty shall, at its election: (i)
in order to allow Dealer to sell the Hedge Shares in a registered
offering, make available to Dealer an effective registration statement under
the Securities Act to cover the resale of such Hedge Shares and (A) enter into
an agreement, in form and substance satisfactory to Dealer, substantially in
the form of an underwriting agreement for a registered offering, (B) provide accountant’s “comfort” letters in
customary form for registered offerings of equity securities, (C) provide
disclosure opinions of nationally recognized outside counsel to Counterparty
reasonably acceptable to Dealer, (D) provide other customary opinions,
certificates and closing documents customary in form for registered offerings
of equity securities and (E) afford Dealer a reasonable opportunity to conduct
a “due diligence” investigation with respect to Counterparty customary in scope
for underwritten offerings of equity securities; provided,
however, that if Dealer, in its sole reasonable discretion, is not
satisfied with access to due diligence materials, the results of its due
diligence investigation, or the procedures and documentation for the registered
offering referred to above, then clause (ii) or clause (iii) of this Section 8(d)
shall apply at the election of Counterparty; (ii) in order to allow Dealer to
sell the Hedge Shares in a private placement, use its best efforts to enter
into a private placement agreement substantially similar to private placement
purchase agreements customary for private placements of equity securities, in
form and substance satisfactory to Dealer, including customary representations,
covenants, blue sky and other governmental filings and/or registrations,
indemnities to Dealer, due diligence rights (for Dealer or any designated buyer
of the Hedge Shares from Dealer), opinions and certificates and such other
documentation as is customary for private placements agreements, all reasonably
acceptable to Dealer (in which case, the Calculation Agent shall make any
adjustments to the terms of the Transaction that are necessary, in its
reasonable judgment, to compensate Dealer for any discount from the public
market price of the Shares incurred on the sale of Hedge Shares in a private
placement); or (iii) purchase the Hedge Shares from Dealer at the VWAP Price on
such Exchange Business Days, and in the amounts, requested by Dealer. “VWAP Price” means, on any Exchange Business
Day, the per Share volume-weighted average price as displayed under the heading
“Bloomberg VWAP” on Bloomberg page EMC.N <equity> VAP (or any successor
thereto) in respect of the period from 9:30 a.m. to 4:00 p.m. (New York City
time) on such Exchange Business Day (or if such volume-weighted average price
is unavailable, the market value of one Share on such Exchange Business Day, as
determined by the Calculation Agent using a volume-weighted method). For the
avoidance of doubt, Counterparty is not obligated to purchase Shares under any
circumstances under this Section 8(d) unless it elects to do so pursuant to
Section 8(d)(iii).

(e)           Repurchase Notices. Counterparty shall, on any day on which
Counterparty effects any repurchase of Shares, promptly give Dealer a written
notice of such repurchase (a “Repurchase Notice”)
on such day if, following such repurchase, the Notice Percentage as determined
on such day is (i) greater than 6% and (ii) greater by 0.5% than the Notice
Percentage included in the immediately preceding Repurchase Notice (or, in the
case of the first such Repurchase Notice, greater than the Notice Percentage as
of the date hereof). The “Notice Percentage”
as of any day is the fraction, expressed as a percentage, the numerator of
which is the Number of Shares and the denominator of which is the number of
Shares outstanding on such day. In the event that Counterparty fails to provide
Dealer with a Repurchase Notice on the day and in the manner specified in this
Section 8(e) then Counterparty agrees to indemnify and hold harmless Dealer,
its affiliates and their respective directors, officers, employees, agents and
controlling persons (Dealer and each such person being an “Indemnified
Party”) from and against any and all losses, claims, damages and
liabilities (or actions in respect thereof), joint or several, to which such
Indemnified Party may become subject under applicable securities laws,
including without limitation, Section 16 of the Exchange Act, relating to or arising
out of such failure. If for any reason the foregoing indemnification is
unavailable to any Indemnified Party or insufficient to hold harmless any
Indemnified Party, then Counterparty shall contribute, to the maximum extent
permitted by law, to the amount paid or payable by the Indemnified Party as a
result of such loss, claim, damage or liability. In addition, Counterparty will
reimburse any Indemnified Party for all expenses (including reasonable counsel
fees and expenses) as they are incurred (after notice to Counterparty) in
connection with the investigation of, preparation for or defense or settlement
of any pending or threatened claim or any action, suit or proceeding arising

 14
 

therefrom, whether or not
such Indemnified Party is a party thereto and whether or not such claim,
action, suit or proceeding is initiated or brought by or on behalf of
Counterparty. This indemnity shall survive the completion of the Transaction
contemplated by this Confirmation and any assignment and delegation of the
Transaction made pursuant to this Confirmation or the Agreement shall inure to
the benefit of any permitted assignee of Dealer.

(f)            Transfer and Assignment. Neither party may transfer any of
its rights or obligations under the Transaction without the prior written
consent of the non-transferring party; provided that
Dealer may transfer or assign without any consent of Counterparty its rights
and obligations hereunder, in whole or in part, to any of its affiliates whose
obligations hereunder would be guaranteed by JPMorgan Chase Bank, National
Association; provided further that at any time
at which the Equity Percentage exceeds 9.0%, if Dealer, in its discretion, is
unable to effect a transfer or assignment to a third party in accordance with
the requirements set forth above after its commercially reasonable efforts on
pricing terms reasonably acceptable to Dealer such that the Equity Percentage
is reduced to 9.0% or less, Dealer may designate any Scheduled Trading Day as
an Early Termination Date with respect to a portion (the “Terminated
Portion”) of the Transaction, such that the Equity Percentage
following such partial termination will be equal to or less than 9.0%. In the
event that Dealer so designates an Early Termination Date with respect to a
portion of the Transaction, a payment or delivery shall be made pursuant to
Section 6 of the Agreement and Section 8(c) of this Confirmation as if (i) an
Early Termination Date had been designated in respect of a Transaction having
terms identical to the Terminated Portion of the Transaction, (ii) Counterparty
shall be the sole Affected Party with respect to such partial termination and
(iii) such portion of the Transaction shall be the only Terminated Transaction.
The “Equity Percentage” as of any day is the
fraction, expressed as a percentage, (A) the numerator of which is the sum of
(i) the lesser of (1) 5% and (2) the number of Shares that Dealer beneficially
owns (within the meaning of Section 13 of the Exchange Act) on such day, other
than any Shares so owned as a hedge of the Transaction, and (ii) the Number of
Shares hereunder and (B) the denominator of which is the number of Shares
outstanding on such day. Counterparty may transfer or assign its rights and
obligations hereunder and under the Agreement, in whole or in part, to any
party with the consent of Dealer, such consent not to be unreasonably withheld.
Notwithstanding any other provision in this Confirmation to the contrary
requiring or allowing Dealer to purchase, sell, receive or deliver any Shares
or other securities to or from Counterparty, Dealer may designate any of its
affiliates to purchase, sell, receive or deliver such Shares or other
securities and otherwise to perform Dealer’s obligations in respect of this
Transaction and any such designee may assume such obligations. Dealer shall be
discharged of its obligations to Counterparty to the extent, and only to the
extent, of any such performance in full.

(g)           Staggered Settlement. If the Staggered
Settlement Equity Percentage as of any Exchange Business Day during the
relevant “Conversion Reference Period”, as defined in the Indenture, is greater
than 4.5%, Dealer may, by notice to
Counterparty prior to any Settlement Date (a “Nominal
Settlement Date”), elect to deliver the Shares on two or more dates
(each, a “Staggered Settlement Date”)
or at two or more times on the Nominal Settlement Date as follows:

(i)            in such notice, Dealer will specify to Counterparty
the related Staggered Settlement Dates (each of which will be on or prior to
such Nominal Settlement Date, but not prior to the beginning of such “Conversion
Reference Period”) or delivery times and how it will allocate the Shares it is
required to deliver under “Delivery Obligation” (above) among the Staggered
Settlement Dates or delivery times; and

(ii)           the aggregate number of Shares that Dealer will
deliver to Counterparty hereunder on all such Staggered Settlement Dates and
delivery times will equal the number of Shares that Dealer would otherwise be
required to deliver on such Nominal Settlement Date.

The “Staggered
Settlement Equity Percentage” as of any day is the fraction,
expressed as a percentage, (A) the numerator of which is the sum of (i) the
number of Shares that Dealer or any of its affiliates subject to aggregation
with Dealer beneficially own (within the meaning of Section 13 of the

 15
 

Exchange Act) on such day, other than any Shares so
owned as a hedge of the Transaction, and (ii) the Number of Shares hereunder and
(B) the denominator of which is the number of Shares outstanding on such day.

(h)           Disclosure. Effective from the date of commencement of
discussions concerning the Transaction, Counterparty and each of its employees,
representatives, or other agents may disclose to any and all persons, without
limitation of any kind, the tax treatment and tax structure of the Transaction
and all materials of any kind (including opinions or other tax analyses) that
are provided to Counterparty relating to such tax treatment and tax structure.

(i)            No Set-off. The provisions of Section 2(c) of the Agreement
shall not apply to the Transaction. Each party waives any and all rights it may
have to set-off delivery or payment obligations it owes to the other party
under the Transaction against any delivery or payment obligations owed to it by
the other party, whether arising under the Agreement, under any other agreement
between parties hereto, by operation of law or otherwise.

(j)            Equity Rights. Dealer acknowledges and agrees that this
Confirmation is not intended to convey to it rights with respect to the Transaction
that are senior to the claims of common stockholders in the event of
Counterparty’s bankruptcy. For the avoidance of doubt, the parties agree that
the preceding sentence shall not apply at any time other than during
Counterparty’s bankruptcy to any claim arising as a result of a breach by
Counterparty of any of its obligations under this Confirmation or the Agreement.

(k)           Early Unwind. In the event the sale by Counterparty of the
Convertible Debentures is not consummated with the Initial Purchasers party to
the Purchase Agreement pursuant to the Purchase Agreement for any reason by the
close of business in New York on November 17, 2006 (or such later date as
agreed upon by the parties, which in no event shall be later than November 22,
2006) (November 17, 2006 or such later date being the “Early Unwind
Date”), the Transaction shall automatically terminate (the “Early Unwind”), on the Early Unwind Date and the Transaction
and all of the respective rights and obligations of Dealer and Counterparty thereunder
shall be cancelled and terminated. Following such termination and cancellation,
each party shall be released and discharged by the other party from and agrees
not to make any claim against the other party with respect to any obligations
or liabilities of either party arising out of and to be performed in connection
with the Transaction either prior to or after the Early Unwind Date. Dealer and
Counterparty represent and acknowledge to the other that, upon an Early Unwind,
all obligations with respect to the Transaction shall be deemed fully and
finally discharged.

(l)            Governing
Law. THIS CONFIRMATION SHALL BE
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CHOICE
OF LAW DOCTRINE).

(m)          Waiver of
Jury Trial. Each party waives, to
the fullest extent permitted by applicable law, any right it may have to a
trial by jury in respect of any suit, action or proceeding relating to the
Transaction. Each party (i) certifies that no representative, agent or attorney
of the other party has represented, expressly or otherwise, that such other
party would not, in the event of such a suit, action or proceeding, seek to
enforce the foregoing waiver and (ii) acknowledges that it and the other party
have been induced to enter into the Transaction, as applicable, by, among other
things, the mutual waivers and certifications provided herein.

(o)           Roleof Agent. Each party agrees and acknowledges that (i) J.P. Morgan
Securities Inc., an affiliate of Dealer (“JPMSI”), has
acted solely as agent and not as principal with respect to the Transaction and
(ii) JPMSI has no obligation or liability, by way of guaranty, endorsement or
otherwise, in any manner in respect of the Transaction (including, if
applicable, in respect of the settlement thereof). Each party agrees it will
look solely to the other party (or any guarantor in respect thereof) for
performance of such other party’s obligations under the Transaction.

 16

Counterparty hereby agrees (a) to check this
Confirmation carefully and immediately upon receipt so that errors or
discrepancies can be promptly identified and rectified and (b) to confirm
that the foregoing (in the exact form provided by Dealer) correctly sets forth
the terms of the agreement between Dealer and Counterparty with respect to the
Transaction, by manually signing this Confirmation or this page hereof as
evidence of agreement to such terms and providing the other information
requested herein and immediately returning an executed copy to EDG
Confirmation Group, J.P. Morgan Securities Inc., 277 Park Avenue, 11th Floor, New York, NY 10172-3401, Facsimile No. (212) 622-8519.

	
  

  	
   

  
	
   

  	
  Yours faithfully,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  J.P. MORGAN SECURITIES INC.,

  
	
   

  	
  AS AGENT FOR JPMORGAN CHASE BANK,

  
	
   

  	
  NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Authorized Signatory

  	
    /s/ Jeff Zajkowski

  	
   

  
	
   

  	
   

  	
  Name: Jeff Zajkowski

  
	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Agreed and accepted by:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EMC CORPORATION

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Irina Simmons

  	
   

  	
   

  	
   

  
	
   

  	
  Name: Irina Simmons

  	
   

  	
   

  
	
   

  	
  Title: Senior Vice President and Treasurer

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