Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

NETFLIX, INC. 
 $1,900,000,000
5.875% Senior Notes due 2028 
 Purchase Agreement 

April 23, 2018 
 Morgan Stanley & Co.
LLC 
 As Representative of the 
 several Initial Purchasers
listed 
 in Schedule 1 hereto 
 c/o Morgan Stanley &
Co. LLC 
 1585 Broadway 
 New York, New York 10036 

Ladies and Gentlemen: 
 Netflix, Inc., a Delaware
corporation (the “Company”), proposes to issue and sell to the several initial purchasers listed in Schedule 1 hereto (the “Initial Purchasers”), for whom you are acting as representative (the
“Representative”), $1,900,000,000 principal amount of its 5.875% Senior Notes due 2028 (the “Securities”). The Securities will be issued pursuant to an Indenture to be dated as of April 26, 2018 (the
“Indenture”) between the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee”). 

The Securities will be sold to the Initial Purchasers without being registered under the Securities Act of 1933, as amended (the
“Securities Act”), in reliance upon an exemption therefrom. The Company has prepared a preliminary offering memorandum dated April 23, 2018 (the “Preliminary Offering Memorandum”) and will prepare an offering
memorandum dated the date hereof (the “Offering Memorandum”) setting forth information concerning the Company and the Securities. Copies of the Preliminary Offering Memorandum have been, and copies of the Offering Memorandum will
be, delivered by the Company to the Initial Purchasers pursuant to the terms of this purchase agreement (the “Agreement”). The Company hereby confirms that it has authorized the use of the Preliminary Offering Memorandum, the other
Time of Sale Information (as defined below) and the Offering Memorandum in connection with the offering and resale of the Securities by the Initial Purchasers in the manner contemplated by this Agreement. References herein to the Preliminary
Offering Memorandum, the Time of Sale Information and the Offering Memorandum shall be deemed to refer to and include any document incorporated by reference therein. 

At or prior to the time when sales of the Securities by an Initial Purchaser were first made (the “Time of Sale”), the
Company has prepared the following information (collectively, the “Time of Sale Information”): the Preliminary Offering Memorandum, as supplemented and amended by the written communications listed on Annex A hereto including the
term sheet substantially in the form of Annex B hereto. 

 The Company and the several Initial Purchasers hereby confirm their agreement concerning the
purchase and resale of the Securities, as follows: 
 1. Purchase and Resale of the Securities. 

(a) The Company agrees to issue and sell the Securities to the several Initial Purchasers as provided in this Agreement, and each Initial
Purchaser, on the basis of the representations, warranties and agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase from the Company the respective principal amount of the
Securities set forth opposite such Initial Purchaser’s name in Schedule 1 hereto at a price equal to 99.25% of the principal amount of the Securities, plus accrued interest, if any, from April 26, 2018 to the Closing Date. The Company
will not be obligated to deliver any of the Securities except upon payment for all the Securities to be purchased as provided herein. 
 (b)
The Company understands that the Initial Purchasers intend to offer the Securities for resale on the terms set forth in the Time of Sale Information. Each Initial Purchaser, severally and not jointly, represents, warrants and agrees that: 

(i) it is a qualified institutional buyer within the meaning of Rule 144A under the Securities Act (a “QIB”)
and an accredited investor within the meaning of Rule 501(a) of Regulation D under the Securities Act (“Regulation D”);  

(ii) it has not solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell, the Securities by
means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities
Act; and 
 (iii) it has not solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell, the
Securities as part of their initial offering except: 
 (A) to persons whom it reasonably believes to be QIBs in
transactions pursuant to Rule 144A under the Securities Act (“Rule 144A”) and in connection with each such sale, it has taken or will take reasonable steps to ensure that the purchaser of the Securities is aware that such sale is
being made in reliance on Rule 144A; or 
 (B) outside the United States in accordance with the restrictions set forth in
Annex C hereto. 
 (c) Each Initial Purchaser acknowledges and agrees that the Company and, for purposes of the “no registration”
opinions to be delivered to the Initial Purchasers pursuant to Sections 6(f) and 6(g), counsel for the Company and counsel for the Initial Purchasers, respectively, may rely upon the accuracy of the representations and warranties of the Initial
Purchasers, and compliance by the Initial Purchasers with their agreements, contained in paragraph (b) above (including Annex C hereto), and each Initial Purchaser hereby consents to such reliance. 

(d) The Company acknowledges and agrees that the Initial Purchasers may offer and sell Securities to or through any affiliate of an Initial
Purchaser and that any such affiliate may offer and sell Securities purchased by it to or through any Initial Purchaser; provided that such offers and sales shall be made in accordance with the provisions of this Agreement. 

(e) The Company acknowledges and agrees that the Initial Purchasers are acting solely in the capacity of an arm’s length contractual
counterparty to the Company with respect to the offering of Securities contemplated hereby (including in connection with determining the terms of the offering) and not as financial advisors or fiduciaries to, or agents of, the Company or any other
person. Additionally, 

  
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neither the Representative nor any other Initial Purchaser is advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction. The
Company shall consult with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated hereby, and neither the Representative nor any other Initial
Purchaser shall have any responsibility or liability to the Company with respect thereto. Any review by the Representative or any Initial Purchaser of the Company and the transactions contemplated hereby or other matters relating to such
transactions will be performed solely for the benefit of the Representative or such Initial Purchaser, as the case may be, and shall not be on behalf of the Company or any other person. 

2. Payment and Delivery. 

(a) Payment for and delivery of the Securities will be made at the offices of Cahill Gordon & Reindel LLP, 80 Pine
Street, New York, New York 10005 at 10:00 A.M., New York City time, on April 26, 2018, or at such other time or place on the same or such other date, not later than the fifth business day thereafter, as the Representative and the Company may
agree upon in writing. The time and date of such payment and delivery is referred to herein as the “Closing Date.” 
 (b)
Payment for the Securities shall be made by wire transfer in immediately available funds to the account(s) specified by the Company to the Representative against delivery to the nominee of The Depository Trust Company (“DTC”), for
the account of the Initial Purchasers, of one or more global notes representing the Securities (collectively, the “Global Note” and, together with any other Global Note, the “Global Notes”), with any transfer taxes
payable in connection with the sale of the Securities duly paid by the Company. The Global Notes will be made available for inspection by the Representative not later than 1:00 P.M., New York City time, on the business day prior to the Closing Date.

 3. Representations and Warranties of the Company. The Company represents and warrants to each Initial Purchaser that: 

(a) Preliminary Offering Memorandum, Time of Sale Information and Offering Memorandum. The Preliminary Offering Memorandum, as of its
date, did not, the Time of Sale Information, at the Time of Sale, did not, and at the Closing Date, will not, and the Offering Memorandum, in the form first used by the Initial Purchasers to confirm sales of the Securities and as of the Closing
Date, will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that
the Company makes no representation or warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser
through the Representative expressly for use in the Preliminary Offering Memorandum, the Time of Sale Information or the Offering Memorandum. 

(b) Additional Written Communications. The Company (including its agents and representatives, other than the Initial Purchasers in
their capacity as such) has not prepared, made, used, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any written communication that constitutes an offer to sell or solicitation of an offer to buy
the Securities (each such communication by the Company or its agents and representatives (other than a communication referred to in clauses (i), (ii) and (iii) below) an “Issuer Written Communication”) other than (i) the
Preliminary Offering Memorandum, (ii) the Offering Memorandum, (iii) the documents listed on Annex A hereto, including a term sheet substantially in the form of Annex B hereto, which constitute part of the Time of Sale Information, and
(iv) any electronic road show or other written communications, in each case used in accordance with Section 4(c). Each such Issuer Written Communication, when taken 

  
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together with the Time of Sale Information, did not at the Time of Sale, and at the Closing Date will not, contain any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company makes no representation or warranty with respect to any statements or omissions made in
each such Issuer Written Communication in reliance upon and in conformity with information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use in any Issuer
Written Communication. 
 (c) Incorporated Documents. The documents incorporated by reference in each of the Time of Sale Information
and the Offering Memorandum, when filed with the Securities and Exchange Commission (the “Commission”), conformed or will conform, as the case may be, in all material respects to the requirements of the Exchange Act and the rules
and regulations of the Commission thereunder, and did not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading; provided, however, that no representation is made as to any statement or omission that shall have been superseded or modified in either (i) a document subsequently
filed with the Commission and incorporated by reference in each of the Time of Sale Information and the Offering Memorandum or (ii) each of the Time of Sale Information and the Offering Memorandum. 

(d) Financial Statements. The financial statements and the related notes thereto included or incorporated by reference in each of the
Time of Sale Information and the Offering Memorandum present fairly in all material respects the consolidated financial position of the Company and its subsidiaries as of the dates indicated and the consolidated results of their operations and the
consolidated changes in their cash flows for the periods specified; except as set forth therein, such financial statements have been prepared in conformity with generally accepted accounting principles applied on a consistent basis throughout the
periods covered thereby; and the other financial information of the Company and its subsidiaries included or incorporated by reference in each of the Time of Sale Information and the Offering Memorandum has been derived from the accounting records
of the Company and its subsidiaries and presents fairly in all material respects the information shown thereby. 
 (e) No Material
Adverse Change. Except as disclosed in the Time of Sale Information and the Offering Memorandum, since the date of the most recent financial statements of the Company included or incorporated by reference in each of the Time of Sale Information
and the Offering Memorandum (i) there has not been any material change in the capital stock (other than the issuance of the shares of common stock, options or restricted stock units to purchase or acquire shares of common stock granted under,
or contracts or commitments pursuant to, the Company’s previous or currently existing stock option, employee stock purchase and other similar officer, director or employee benefit plans or the issuance of the common stock upon the exercise of
outstanding options and warrants) or long-term debt of the Company or its subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class of capital stock, or any material adverse
change, or any development involving a prospective material adverse change in the business, properties, management, financial position, results of operations or prospects of the Company and its subsidiaries taken as a whole; (ii) neither the
Company nor any of its subsidiaries has entered into any transaction or agreement that is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent, that is material to the Company
and its subsidiaries taken as a whole; and (iii) neither the Company nor any of its subsidiaries has sustained any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by
insurance, or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or regulatory authority. 

  
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 (f) Organization and Good Standing. The Company and each “significant
subsidiary” (as defined in Rule 1-02(w) of Regulation S-X promulgated under the Exchange Act, a “Significant Subsidiary”) of the Company has been
duly organized and is validly existing and in good standing under the laws of its respective jurisdictions of organization, is duly qualified to do business and is in good standing in each jurisdiction in which its respective ownership or lease of
property or the conduct of its respective businesses as currently conducted requires such qualification, and has all power and authority necessary to own or hold its respective properties and to conduct the businesses in which it is currently
engaged, except where the failure to be so qualified, in good standing or have such power or authority would not, individually or in the aggregate, have a material adverse effect on the business, properties, financial position, results of operations
or prospects of the Company and its subsidiaries taken as a whole or on the performance by the Company of its obligations under this Agreement, the Indenture, and the Securities (a “Material Adverse Effect”). The Company does not
own or control, directly or indirectly, any Significant Subsidiary other than the entities listed in Schedule 2 to this Agreement. 
 (g)
Capitalization. The Company has the capitalization as set forth in each of the Time of Sale Information and the Offering Memorandum under the heading “Capitalization”; and all the outstanding shares of capital stock or other equity
interests of the Significant Subsidiaries of the Company have been duly and validly authorized and issued, are, to the extent applicable, fully paid and non-assessable and are owned directly or indirectly by
the Company, free and clear of any lien, charge, encumbrance, security interest, restriction on voting or transfer or any other claim of any third party. 

(h) Due Authorization. The Company has full right, power and authority to execute and deliver this Agreement, the Securities and the
Indenture (collectively, the “Transaction Documents”) and to perform its obligations hereunder and thereunder; and all action required to be taken by the Company for the due and proper authorization, execution and delivery of each
of the Transaction Documents and the consummation of the transactions contemplated thereby has been duly and validly taken. 
 (i) The
Indenture. The Indenture has been duly authorized by the Company and, when duly executed and delivered in accordance with its terms by each of the parties thereto, will constitute a valid and legally binding agreement of the Company enforceable
against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights
generally or by equitable principles relating to enforceability including principles of good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or equity) (collectively, the “Enforceability
Exceptions”). 
 (j) The Securities. The Securities have been duly authorized by the Company and, when duly executed,
authenticated, issued and delivered as provided in the Indenture and paid for as provided herein, will be duly and validly issued and outstanding and will constitute valid and legally binding obligations of the Company enforceable against the
Company in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 

(k) Purchase Agreement. This Agreement has been duly authorized, executed and delivered by the Company. 

(l) Descriptions of the Transaction Documents. Each Transaction Document conforms in all material respects to the description thereof
contained in each of the Time of Sale Information and the Offering Memorandum. 

  
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 (m) No Violation or Default. Neither the Company nor any of its Significant Subsidiaries
is (i) in violation of its charter or by-laws or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a
default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Significant Subsidiaries is a
party or by which the Company or any of its Significant Subsidiaries is bound or to which any of the property or assets of the Company or any of its Significant Subsidiaries is subject; or (iii) in violation of any applicable law or statute or
any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority having jurisdiction over the Company or any of its Significant Subsidiaries or any of their properties, except, in the case of clauses
(ii) and (iii) above, for any such default or violation that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(n) No Conflicts. The execution, delivery and performance by the Company of each of the Transaction Documents, the issuance and sale of
the Securities and compliance by the Company with the terms thereof and the consummation of the transactions contemplated by the Transaction Documents will not (i) conflict with or result in a breach or violation of any of the terms or
provisions of, or constitute a default under, result in the termination, modification or acceleration of, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its Significant
Subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Significant Subsidiaries is a party or by which the Company or any of its Significant Subsidiaries
is bound or to which any of the property or assets of the Company or any of its Significant Subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar
organizational documents of the Company or any of its Significant Subsidiaries or (iii) assuming the accuracy of the representations and warranties of the Initial Purchasers contained herein and their compliance with their agreements contained
herein, result in the violation of any applicable law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority having jurisdiction over the Company or any of its Significant
Subsidiaries or any of their properties, except in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default, lien, charge or encumbrance that would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect. 
 (o) No Consents Required. Assuming the accuracy of the representations and warranties of the
Initial Purchasers contained herein and their compliance with their agreements contained herein, no consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is
required on the part of the Company for the execution, delivery and performance by the Company of each of the Transaction Documents, the issuance and sale of the Securities and compliance by the Company with the terms thereof and the consummation of
the transactions contemplated by the Transaction Documents, except for (i) such consents, approvals, authorizations, orders and registrations or qualifications as have been obtained, (ii) such consents, approvals, authorizations, orders
and registrations or qualifications as may be required under applicable state and foreign securities laws in connection with the purchase and resale of the Securities by the Initial Purchasers or (iii) such consents, approvals, authorizations,
orders and registrations or qualifications as are expressly contemplated by the Transaction Documents. 
 (p) Legal Proceedings.
Except as described in each of the Time of Sale Information and the Offering Memorandum, there are no legal, governmental or regulatory investigations, actions, demands, claims, suits, arbitrations, inquiries or proceedings
(“Actions”) pending to which the Company or any of its subsidiaries is a party or to which any property of the Company or any of its subsidiaries is to, the knowledge of the Company, the subject that, individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect; and to the Company’s knowledge, no such Actions are threatened or contemplated by any governmental or regulatory authority. 

  
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 (q) Independent Accountants. Ernst & Young LLP, who has certified certain
financial statements of the Company and its subsidiaries, are independent public accountants with respect to the Company and its subsidiaries within the applicable rules and regulations adopted by the Commission and the Public Company Accounting
Oversight Board (United States) and as required by the Securities Act. 
 (r) Title to Real and Personal Property. Except as
disclosed in each of the Time of Sale Information and the Offering Memorandum, the Company and its Significant Subsidiaries have good and marketable title in fee simple to, or have valid rights to lease or otherwise use, all items of real and
personal property that are material to the respective businesses of the Company and its Significant Subsidiaries, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title except those that (i) do not
materially interfere with the use made and proposed to be made of such property by the Company and its Significant Subsidiaries or (ii) would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(s) Title to Intellectual Property. Except as would not reasonably be expected, individually or in the aggregate, to have a Material
Adverse Effect or as set forth in the Time of Sale Information and the Offering Memorandum: (i) the Company and its Significant Subsidiaries own or possess adequate rights to use all material patents, patent applications, trademarks, service
marks, trade names, trademark registrations, service mark registrations, copyrights, licenses and know-how (including trade secrets) and other unpatented and/or unpatentable proprietary or confidential
information, systems or procedures, necessary for the conduct of their respective businesses; and (ii) the conduct of their respective businesses will not infringe, violate or conflict in any material respect with any such rights of others, and
the Company and its Significant Subsidiaries have not received any notice of any claim of infringement or violation of or conflict with any such rights of others. 

(t) No Undisclosed Relationships. No relationship, direct or indirect, exists between or among the Company or any of its subsidiaries,
on the one hand, and the directors, officers, stockholders or other affiliates of the Company or any of its subsidiaries, on the other, that would be required by the Securities Act to be described pursuant to Item 404 of Regulation S-K in a registration statement on Form S-1 to be filed with the Commission and that is not so described in each of the Time of Sale Information and the Offering Memorandum.

 (u) Investment Company Act. The Company is not, and after giving effect to the offering and sale of the Securities and the
application of the proceeds thereof as described in each of the Time of Sale Information and the Offering Memorandum will not be an “investment company” or an entity “controlled” by an “investment company” within the
meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Investment Company Act”). 

(v) Taxes. Except, in each case, for (i) any such taxes or tax deficiencies that are currently being contested in good faith by
appropriate proceedings and for which the Company has established adequate reserves in accordance with generally accepted accounting principles or (ii) would not reasonably be expected, individually or in the aggregate, to have a Material
Adverse Effect, (1) the Company and its Significant Subsidiaries have paid all federal, state, local and foreign taxes (including any interest and penalties) and filed all tax returns required to be paid or filed through the date hereof and
(2) there is no tax deficiency that has been, or could reasonably be expected to be, asserted against the Company or any of its Significant Subsidiaries or any of their respective properties or assets. 

  
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 (w) Licenses and Permits. The Company and its Significant Subsidiaries possess all
licenses, certificates, permits and other authorizations issued by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory authorities that are necessary for the ownership or
lease of their respective properties or the conduct of their respective businesses as described in each of the Time of Sale Information and the Offering Memorandum, except where the failure to possess or make the same would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect; and except as described in each of the Time of Sale Information and the Offering Memorandum, neither the Company nor any of its Significant Subsidiaries has received notice of
any revocation or modification of any such license, certificate, permit or authorization or has any reason to believe that any such license, sub-license, certificate, permit or authorization will not be
renewed in the ordinary course except where such revocation, modification or non-renewal would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(x) No Labor Disputes. No labor disturbance by or dispute with employees of the Company or any of its Significant Subsidiaries exists
or, to the knowledge of the Company, is contemplated or threatened and the Company is not aware of any existing or imminent labor disturbance by, or dispute with, the employees of any of the Company’s or the Company’s Significant
Subsidiaries’ principal suppliers, except, in each case, as would not reasonably be expected to have a Material Adverse Effect. 
 (y)
Compliance With Environmental Laws. (i) The Company and its Significant Subsidiaries (x) are in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, requirements, decisions and orders
relating to the protection of human health or safety, the environment, natural resources, hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”), (y) have received and are in
compliance with all permits, licenses, certificates or other authorizations or approvals required of them under applicable Environmental Laws to conduct their respective businesses, and (z) have not received notice of any actual or potential
liability under or relating to any Environmental Laws, including for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, and have no knowledge of any event or condition
that would reasonably be expected to result in any such notice, and (ii) there are no costs or liabilities associated with Environmental Laws of or relating to the Company or any of its Significant Subsidiaries; except in the case of each of
(i) and (ii) above, for any such failure to comply, or failure to receive required permits, licenses or approvals, or cost or liability, as would not, individually or in the aggregate, have a Material Adverse Effect. Except as described in each
of the Time of Sale Information and the Offering Memorandum, (x) there are no proceedings that are pending, or that are known by the Company to be contemplated, against the Company or any of its Significant Subsidiaries under any Environmental
Laws in which a governmental entity is also a party, other than such proceedings regarding which it is reasonably believed no monetary sanctions of $5.0 million or more will be imposed on the Company or any of its Significant Subsidiaries and
(y) the Company and its Significant Subsidiaries are not aware of any noncompliance by them with Environmental Laws, or liabilities or other obligations of them under Environmental Laws or laws concerning hazardous or toxic substances or
wastes, pollutants or contaminants, that could reasonably be expected to have a Material Adverse Effect. 
 (z) Compliance With
ERISA. Except as disclosed in each of the Time of Sale Information and Offering Memorandum or as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect (i) each employee benefit plan, within
the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), for which the Company or any member of its “Controlled Group” (defined as any organization which is a member of
a controlled group of corporations within the meaning of Section 414 of the Internal Revenue Code of 1986, as amended (the “Code”)) would have any liability (each, a “Plan”) has been maintained in compliance
with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Code; (ii) no prohibited transaction, within the meaning of Section 406 of

  
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ERISA or Section 4975 of the Code, has occurred with respect to any Plan excluding transactions effected pursuant to a statutory or administrative exemption; (iii) for each Plan that is
subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no failure to satisfy the minimum funding standards under Section 412 of the Code or Section 302 of ERISA, whether or not waived, has occurred or is
reasonably expected to occur; (iv) no “reportable event” (within the meaning of Section 4043(c) of ERISA) has occurred or is reasonably expected to occur; and (v) neither the Company nor any member of the Controlled Group
has incurred any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the Pension Benefit Guarantee Corporation, in the ordinary course and without default) in respect of a Plan (including a “multiemployer
plan”, within the meaning of Section 4001(a)(3) of ERISA. 
 (aa) Disclosure Controls. The Company maintains an effective
system of “disclosure controls and procedures” (as defined in Rule 13a-15(e) of the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in reports that
it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms, including controls and procedures designed to ensure that such information is
accumulated and communicated to the Company’s management as appropriate to allow timely decisions regarding required disclosure. The Company has carried out evaluations of the effectiveness of its disclosure controls and procedures as required
by Rule 13a-15 of the Exchange Act. 
 (bb) Accounting Controls. The Company maintains
systems of “internal control over financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the
supervision of, its principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting principles. The Company maintains internal accounting controls sufficient to provide reasonable assurance that (i) the maintenance of records is in reasonable detail that
accurately and fairly reflects the transactions and disposition of assets; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and receipts and
expenditures are being made only in accordance with the authorizations of management and directors; (iii) regarding prevention or timely detection of unauthorized acquisitions, the use or disposition of the Company’s assets that could have
a material effect on financial statements; and (iv) interactive data in eXtensbile Business Reporting Language included or incorporated by reference in each of the Preliminary Offering Memorandum, the Time of Sale Information and the Offering
Memorandum is prepared in accordance with the Commission’s rules and guidelines applicable thereto. Except as disclosed in each of the Time of Sale Information and the Offering Memorandum, there are no material weaknesses or significant
deficiencies in the Company’s internal controls. 
 (cc) Insurance. The Company and its Significant Subsidiaries have insurance
covering their respective properties, operations, personnel and businesses which insurance is in amounts and insures against such losses and risks as are adequate in the reasonable judgment of the Company to protect the Company and its Significant
Subsidiaries and their respective businesses; and neither the Company nor any of its Significant Subsidiaries has (i) received notice from any insurer or agent of such insurer that capital improvements or other expenditures are required or
necessary to be made in order to continue such insurance or (ii) any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage at reasonable cost from
similar insurers as may be necessary to continue its business. 

  
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 (dd) No Unlawful Payments. Neither the Company nor any of its subsidiaries or affiliates,
nor any director, officer, or employee of the Company or any of its subsidiaries, nor, to the Company’s knowledge, any agent, affiliate, representative or other person associated with or acting on behalf of the Company or any of its
subsidiaries or affiliates, has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made or taken an act in furtherance of an offer, promise or
authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government official or employee, including of any government-owned or controlled entity or of a public international organization, or any person acting in
an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as
amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom, or any
other applicable anti-bribery or anti-corruption law; or (iv) made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit, including, without limitation, any rebate, payoff, influence payment,
kickback or other unlawful or improper payment or benefit. The Company and its subsidiaries and affiliates have conducted their businesses in compliance with applicable anti-corruption laws and have instituted, maintain and enforce and will continue
to maintain and enforce policies and procedures designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption laws and with the representation and warranty contained herein. 

(ee) Compliance with Money Laundering Laws. The operations of the Company and its subsidiaries are and have been conducted at all times
in compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the Company and its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules,
regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Anti-Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or
body or any arbitrator involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the best knowledge of the Company, threatened. 

(ff) No Conflicts with Sanctions Laws. (i) Neither the Company nor any of its subsidiaries, nor any director, officer, or employee
thereof, nor, to the Company’s knowledge, any agent, affiliate or representative of the Company or any of its subsidiaries, is an individual or entity (“Person”) that is, or is owned or controlled by a Person that is: 

(A) the subject of any sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets
Control (“OFAC”) , the United Nations Security Council (“UNSC”), the European Union (“EU”), Her Majesty’s Treasury (“HMT”), or other relevant sanctions authority (collectively,
“Sanctions”), nor 
 (B) located, organized or resident in a country or territory that is the subject of
Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea and Syria). 
 (ii) The Company represents and
covenants that it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: 

(A) except as detailed in Schedule 3, to fund or facilitate any activities or business of or with any Person or in any country
or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or 

  
 10 

 (B) in any manner that will result in a violation of Sanctions by any Person
(including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise). 
 (iii) Except
as detailed in Schedule 3, for the past 5 years, the Company and its subsidiaries have not knowingly engaged in, are not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory,
that at the time of the dealing or transaction is or was the subject of Sanctions. 
 (gg) Solvency. On and immediately after the
Closing Date, the Company (after giving effect to the issuance and sale of the Securities and the other transactions related thereto as described in each of the Time of Sale Information and the Offering Memorandum) will be Solvent. As used in this
paragraph, the term “Solvent” means, with respect to a particular date, that on such date (i) the present fair market value (or present fair saleable value) of the assets of the Company is not less than the total amount
required to pay the probable liabilities of the Company on its total existing debts and liabilities (including contingent liabilities) as they become absolute and matured; (ii) the Company is able to realize upon its assets and pay its debts
and other liabilities, contingent obligations and commitments as they mature and become due in the normal course of business; (iii) assuming consummation of the issuance and sale of the Securities as contemplated by this Agreement, the Time of
Sale Information and the Offering Memorandum, the Company is not incurring debts or liabilities beyond its ability to pay as such debts and liabilities mature; and (iv) the Company is not engaged in any business or transaction, and does not
propose to engage in any business or transaction, for which its property would constitute unreasonably small capital. 
 (hh) No
Restrictions on Subsidiaries. Except as is not material to the Company’s ability to make payments on the Securities when due, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other
instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on the subsidiary’s capital stock or similar ownership interest, from repaying to the Company any loans or advances to
the subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company, except for any such restrictions that will be permitted by the Indenture. 

(ii) No Broker’s Fees. Neither the Company nor any of its subsidiaries is a party to any contract, agreement or understanding with
any person (other than this Agreement) that would give rise to a valid claim against any of them or any Initial Purchaser for a brokerage commission, finder’s fee or like payment in connection with the offering and sale of the Securities. 

(jj) Rule 144A Eligibility. On the Closing Date, the Securities will not be of the same class as securities listed on a national
securities exchange registered under Section 6 of the Exchange Act or quoted in an automated inter-dealer quotation system; and each of the Preliminary Offering Memorandum and the Offering Memorandum, as of its respective date, contains or will
contain all the information that, if requested by a prospective purchaser of the Securities, would be required to be provided to such prospective purchaser pursuant to Rule 144A(d)(4) under the Securities Act. 

(kk) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) has, directly or through
any agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in a manner that would require
registration of the Securities under the Securities Act. 

  
 11 

 (ll) No General Solicitation or Directed Selling Efforts. None of the Company or any of
its affiliates (as defined in Rule 501 (b) of Regulation D) or any other person acting on its or their behalf (other than the Initial Purchasers or persons acting on their behalf, as to which no representation is made) has (i) solicited offers
for, or offered or sold, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(a)(2) of
the Securities Act or (ii) engaged in any directed selling efforts within the meaning of Regulation S under the Securities Act (“Regulation S”), and all such persons have complied with the offering restrictions requirement of
Regulation S. 
 (mm) Securities Law Exemptions. Assuming the accuracy of the representations and warranties of the Initial
Purchasers contained in Section 1(b) (including Annex C hereto) and their compliance with their agreements set forth herein, it is not necessary, in connection with the issuance and sale of the Securities to the Initial Purchasers and the
offer, resale and delivery of the Securities by the Initial Purchasers in the manner contemplated by this Agreement, the Time of Sale Information and the Offering Memorandum, to register the Securities under the Securities Act or to qualify the
Indenture under the Trust Indenture Act of 1939, as amended. 
 (nn) No Stabilization. The Company has not taken, directly or
indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Securities. 

(oo) Forward-Looking Statements. No forward-looking statement (within the meaning of Section 27A of the Securities Act and
Section 21E of the Exchange Act) contained or incorporated by reference in any of the Time of Sale Information or the Offering Memorandum has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

 (pp) Statistical and Market Data. Nothing has come to the attention of the Company that has caused the Company to believe that the
statistical and market-related data included or incorporated by reference in each of the Time of Sale Information and the Offering Memorandum is not based on or derived from sources that are reliable and accurate in all material respects. 

(qq) Margin Rules. Neither the issuance, sale and delivery of the Securities nor the application of the proceeds thereof by the Company
as described in each of the Time of Sale Information and the Offering Memorandum will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System or any other regulation of such Board of Governors. 

(rr) Sarbanes-Oxley Act: There is and has been no failure on the part of the Company or any of the Company’s directors or
officers, in their capacities as such to comply in all material respects with any provision of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley Act”),
including Section 402 related to loans and Sections 302 and 906 related to certifications. 
 (ss) Interactive Data. The
interactive data in eXtensbile Business Reporting Language included or incorporated by reference in the Preliminary Offering Memorandum, the Time of Sale Information or the Offering Memorandum fairly presents the information called for in all
material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto. 

  
 12 

 4. Further Agreements of the Company. The Company covenants and agrees with each Initial
Purchaser that: 
 (a) Delivery of Copies. Until the earlier to occur of (i) the completion of the initial resale of the
Securities by the Initial Purchasers and (ii) the one year anniversary of the Closing Date, the Company will deliver, without charge, to the Initial Purchasers as many copies of the Preliminary Offering Memorandum, any other Time of Sale
Information, any Issuer Written Communication and the Offering Memorandum (including all amendments and supplements thereto) as the Representative may reasonably request. 

(b) Offering Memorandum, Amendments or Supplements. During the period beginning the date hereof and the ending upon the earlier to
occur of (i) the completion of the initial resale of the Securities by the Initial Purchasers and (ii) the one year anniversary of the Closing Date, before finalizing the Offering Memorandum or making or distributing any amendment or
supplement to any of the Time of Sale Information or the Offering Memorandum or filing with the Commission any document that will be incorporated by reference therein, the Company will furnish to the Representative and counsel for the Initial
Purchasers a copy of the proposed Offering Memorandum or such amendment or supplement or document to be incorporated by reference therein for review, and will not distribute any such proposed Offering Memorandum, amendment or supplement or file any
such document with the Commission to which the Representative reasonably objects; provided, however, that the Representative shall not object to any such filing if the Company obtains advice of outside counsel that such filing is required
under the rules and regulations of the Securities Act or Exchange Act; provided further that the Company shall have the right to file with the Commission any report required to be filed by the Company under the Exchange Act (based on the advice of
the Company’s internal or external counsel) no later than the time period required by the Exchange Act. 
 (c) Additional Written
Communications. Before making, preparing, using, authorizing, approving or referring to any Issuer Written Communication, the Company will furnish to the Representative and counsel for the Initial Purchasers a copy of such written communication
for review and will not make, prepare, use, authorize, approve or refer to any such written communication to which the Representative reasonably objects. 

(d) Notice to the Representative. The Company will advise the Representative promptly, and confirm such advice in writing, (i) of
the issuance by any governmental or regulatory authority of any order preventing or suspending the use of any of the Time of Sale Information, any Issuer Written Communication or the Offering Memorandum or the initiation or threatening of any
proceeding for that purpose; (ii) of the occurrence of any event at any time prior to the completion of the initial offering of the Securities as a result of which any of the Time of Sale Information, any Issuer Written Communication or the
Offering Memorandum as then amended or supplemented would include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing when such Time
of Sale Information, Issuer Written Communication or the Offering Memorandum is delivered to a purchaser, not misleading; and (iii) of the receipt by the Company of any notice with respect to any suspension of the qualification of the
Securities for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and the Company will use its commercially reasonable efforts to prevent the issuance of any such order suspending any such
qualification of the Securities and, if any such order is issued, will use commercially reasonable efforts to obtain as soon as possible the withdrawal thereof. 

(e) Time of Sale Information. If at any time prior to the Closing Date (i) any event shall occur or condition shall exist as a
result of which any of the Time of Sale Information as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading or (ii) it is necessary to amend or supplement any of the Time of Sale Information to comply with applicable law, the Company will promptly notify the Initial Purchasers thereof and

  
 13 

 
forthwith prepare and, subject to paragraph (b) above, furnish to the Initial Purchasers such amendments or supplements to any of the Time of Sale Information (or any document to be filed
with the Commission and incorporated by reference therein) as may be necessary so that the statements in any of the Time of Sale Information as so amended or supplemented (including such documents to be incorporated by reference therein) will not,
in light of the circumstances under which they were made, be misleading or so that any of the Time of Sale Information will comply with applicable law. 

(f) Ongoing Compliance of the Offering Memorandum. If at any time prior to the earlier of (i) the completion of the initial resale
of the Securities and (ii) the one year anniversary of the Closing Date, (i) any event shall occur or condition shall exist as a result of which the Offering Memorandum as then amended or supplemented would include any untrue statement of
a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Offering Memorandum is delivered to a purchaser, not misleading or (ii) it is necessary to
amend or supplement the Offering Memorandum to comply with applicable law, the Company will promptly notify the Initial Purchasers thereof and forthwith prepare and, subject to paragraph (b) above, furnish to the Initial Purchasers such
amendments or supplements to the Offering Memorandum (or any document to be filed with the Commission and incorporated by reference therein) as may be necessary so that the statements in the Offering Memorandum as so amended or supplemented
(including such document to be incorporated by reference therein) will not, in the light of the circumstances existing when the Offering Memorandum is delivered to a purchaser, be misleading or so that the Offering Memorandum will comply with
applicable law. 
 (g) Blue Sky Compliance. The Company will qualify the Securities for offer and sale under the securities or Blue
Sky laws of such jurisdictions (including Canada) as the Representative shall reasonably request and will continue such qualifications in effect so long as required for the initial offering and resale of the Securities by the Initial Purchasers;
provided that the Company shall not be required to (i) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any general
consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject. 

(h) Clear Market. During the period from the date hereof through and including the date that is 90 days after the date hereof, the
Company will not, without the prior written consent of the Representative, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by the Company and having a tenor of more than one year; provided that the
foregoing shall not apply to the sale of Securities under this Agreement. 
 (i) Use of Proceeds. The Company will apply the net
proceeds from the sale of the Securities as described in each of the Time of Sale Information and the Offering Memorandum under the heading “Use of Proceeds.” 

(j) Supplying Information. While the Securities remain outstanding and are “restricted securities” within the meaning of Rule
144(a)(3) under the Securities Act, the Company will, during any period in which the Company is not subject to and in compliance with Section 13 or 15(d) of the Exchange Act, furnish to holders of the Securities and prospective purchasers of
the Securities designated by such holders, upon the request of such holders or such prospective purchasers, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

(k) DTC. The Company will use commercially reasonable efforts to assist the Initial Purchasers in arranging for the Securities to be
eligible for clearance and settlement through DTC. 

  
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 (l) No Resales by the Company. The Company will not, and will not permit any of its
affiliates (as defined in Rule 144 under the Securities Act) to, resell any of the Securities that have been acquired by any of them, except for sales of Securities purchased by the Company or any of its affiliates and resold in a transaction
registered under the Securities Act or pursuant to any exemption under the Securities Act that results in such Securities not being “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act. 

(m) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) will, directly or through
any agent, sell, offer for sale, solicit offers to buy or otherwise negotiate in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in a manner that would require registration
of the Securities under the Securities Act. 
 (n) No General Solicitation or Directed Selling Efforts. None of the Company or any of
its affiliates or any other person acting on its or their behalf (other than the Initial Purchasers and persons acting on their behalf, as to which no covenant is given) will (i) solicit offers for, or offer or sell, the Securities by means of
any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act or (ii) engage in any
directed selling efforts within the meaning of Regulation S, and all such persons will comply with the offering restrictions requirement of Regulation S. 

(o) No Stabilization. The Company will not take, directly or indirectly, any action designed to or that could reasonably be expected to
cause or result in any stabilization or manipulation of the price of the Securities. 
 5. Certain Agreements of the Initial
Purchasers. Each Initial Purchaser hereby represents and agrees that it has not and will not use, authorize use of, refer to, or participate in the planning for use of, any written communication that constitutes an offer to sell or the
solicitation of an offer to buy the Securities other than (i) the Preliminary Offering Memorandum and the Offering Memorandum, (ii) any written communication that contains either (a) no “issuer information” (as defined in
Rule 433(h)(2) under the Securities Act) or (b) “issuer information” that was included (including through incorporation by reference) in the Time of Sale Information or the Offering Memorandum, (iii) any written communication listed
on Annex A or prepared pursuant to Section 4(c) above (including any electronic road show), (iv) any written communication prepared by such Initial Purchaser and approved by the Company in advance in writing or (v) any written
communication relating to or that contains the terms of the Securities and/or other information that was included (including through incorporation by reference) in the Time of Sale Information or the Offering Memorandum. 

6. Conditions of Initial Purchasers’ Obligations. The obligation of each Initial Purchaser to purchase Securities on the Closing
Date as provided herein is subject to the performance in all material respects by the Company of its covenants and other obligations hereunder and to the following additional conditions: 

(a) Representations and Warranties. The representations and warranties of the Company contained herein shall be true and correct on the
date hereof and on and as of the Closing Date; and the statements of the Company and its officers made in any certificates delivered pursuant to this Agreement shall be true and correct on and as of the Closing Date. 

(b) No Downgrade. Subsequent to the earlier of (A) the Time of Sale and (B) the execution and delivery of this Agreement,
(i) no downgrading shall have occurred in the rating accorded the Company or any of its subsidiaries, the Securities or any other debt or preferred stock issued or guaranteed by the Company or any of its subsidiaries by any “nationally
recognized statistical rating 

  
 15 

 
organization”, registered under Section 15E of the Exchange Act; and (ii) no such organization shall have publicly announced that it has under surveillance or review, or has
changed its outlook with respect to, its rating of the Securities or of any other debt securities or preferred stock issued or guaranteed by the Company or any of its subsidiaries (other than an announcement with positive implications of a possible
upgrading). 
 (c) No Material Adverse Change. No event or condition of a type described in Section 3(e) hereof shall have
occurred or shall exist, which event or condition is not described in each of the Time of Sale Information (excluding any amendment or supplement thereto) and the Offering Memorandum (excluding any amendment or supplement thereto) the effect of
which in the reasonable judgment of the Representative makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement, the Time of Sale Information
and the Offering Memorandum. 
 (d) Officer’s Certificate. The Representative shall have received on and as of the Closing Date
a certificate of an executive officer of the Company who has specific knowledge of the Company’s financial matters and is reasonably satisfactory to the Representative (i) confirming that such officer has reviewed the Time of Sale
Information and the Offering Memorandum and, to the knowledge of such officer, the representations set forth in Sections 3(a) and 3(b) hereof are true and correct, (ii) confirming that the other representations and warranties of the Company in
this Agreement are true and correct and that the Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied hereunder at or prior to the Closing Date and (iii) to
the effect set forth in paragraphs (b) and (c) above. 
 (e) Comfort Letters. On the date of this Agreement and on the Closing
Date, Ernst & Young LLP shall have furnished to the Representative, at the request of the Company, a letter, dated the respective dates of delivery thereof and addressed to the Initial Purchasers, in form and substance reasonably
satisfactory to the Representative, containing statements and information of the type customarily included in accountants’ “comfort letters” to underwriters with respect to the financial statements and certain financial information
contained or incorporated by reference in each of the Time of Sale Information and the Offering Memorandum ; provided that the letter delivered on the Closing Date shall use a “cut-off” date
no more than three business days prior to the Closing Date. 
 (f) Opinion and 10b-5 Statement of
Counsel for the Company. Wilson Sonsini Goodrich & Rosati, Professional Corporation, counsel for the Company, shall have furnished to the Representative, at the request of the Company, their written opinion and 10b-5 statement, dated the Closing Date and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Representative, substantially to the effect set forth in Annex D hereto. 

(g) Opinion and 10b-5 Statement of Counsel for the Initial Purchasers. The Representative shall
have received on and as of the Closing Date an opinion and 10b-5 statement of Cahill Gordon & Reindel LLP, counsel for the Initial Purchasers, with respect to such matters as the
Representative may reasonably request, and such counsel shall have received such documents and information as they may reasonably request to enable them to pass upon such matters. 

(h) No Legal Impediment to Issuance. No action shall have been taken and no statute, rule, regulation or order shall have been enacted,
adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent the issuance or sale of the Securities; and no injunction or order of any federal, state or foreign court shall have
been issued that would, as of the Closing Date, prevent the issuance or sale of the Securities. 

  
 16 

 (i) Good Standing. The Representative shall have received on and as of the Closing Date
satisfactory evidence of the good standing of the Company in its jurisdiction of organization and its good standing in such other jurisdictions as the Representative may reasonably request, in each case in writing or any standard form of
telecommunication, from the appropriate governmental authorities of such jurisdictions. 
 (j) DTC. The Securities shall be eligible
for clearance and settlement through DTC. 
 (k) Indenture and Securities. The Indenture shall have been duly executed and delivered
by a duly authorized officer of the Company and the Trustee, and the Securities shall have been duly executed and delivered by a duly authorized officer of the Company and, immediately following the payment for the Securities pursuant to
Section 2(b), duly authenticated by the Trustee. 
 (l) Additional Documents. On or prior to the Closing Date, the Company shall
have furnished to the Representative such further certificates and documents as the Representative may reasonably request. 
 All opinions,
letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Initial Purchasers.

 7. Indemnification and Contribution. 

(a) Indemnification of the Initial Purchasers. The Company agrees to indemnify and hold harmless each Initial Purchaser, its
affiliates, directors and officers and each person, if any, who controls such Initial Purchaser within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages
and liabilities (including, without limitation, reasonable legal fees and other reasonable expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that
arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum, any of the other Time of Sale Information, any Issuer Written Communication or the Offering
Memorandum (or any amendment or supplement thereto) or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
in each case except insofar as such losses, claims, damages or liabilities (including such legal fees and expenses) arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and
in conformity with any information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use therein. 

(b) Indemnification of the Company. Each Initial Purchaser agrees, severally and not jointly, to indemnify and hold harmless the
Company and its directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph
(a) above, but only with respect to any losses, claims, damages or liabilities (including, without limitation, reasonable legal fees and other reasonable expenses incurred in a connection with any suit, action or proceeding or any claim
asserted, as such fees and expenses are incurred) that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Initial
Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use in the Preliminary Offering Memorandum, any of the other Time of Sale Information, any Issuer Written Communication or the Offering
Memorandum (or any amendment or supplement thereto), it being understood and agreed that the only such information consists of the following: the fourth sentence of the eighth paragraph and the ninth paragraph, each under the heading “Plan of
Distribution” in the Preliminary Offering Memorandum and the Offering Memorandum. 

  
 17 

 (c) Notice and Procedures. If any suit, action, proceeding (including any governmental or
regulatory investigation), claim or demand shall be brought or asserted against any person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such person (the “Indemnified Person”)
shall promptly notify the person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that
it may have under paragraph (a) or (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify
the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it
shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person)
to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 7 that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the
fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such
Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the
Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named
parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing
interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate
firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for any Initial Purchaser, its affiliates, directors and officers and any
control persons of such Initial Purchaser shall be designated in writing by Morgan Stanley & Co. LLC and any such separate firm for the Company, its directors and officers and any control persons of the Company shall be designated in
writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying
Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any
pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (x) includes an unconditional
release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any
admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 
 (d) Contribution. If the
indemnification provided for in paragraph (a) or (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph,
in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified 

  
 18 

 
Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the
Initial Purchasers on the other from the offering of the Securities or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) but also the relative fault of the Company on the one hand and the Initial Purchasers on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as
any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Initial Purchasers on the other shall be deemed to be in the same respective proportions as the net proceeds (before deducting
expenses) received by the Company from the sale of the Securities and the total discounts and commissions received by the Initial Purchasers in connection therewith, as provided in this Agreement, bear to the aggregate offering price of the
Securities. The relative fault of the Company on the one hand and the Initial Purchasers on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the Company or by the Initial Purchasers and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or
omission. 
 (e) Limitation on Liability. The Company and the Initial Purchasers agree that it would not be just and equitable if
contribution pursuant to this Section 7 were determined by pro rata allocation (even if the Initial Purchasers were treated as one entity for such purpose) or by any other method of allocation that does not take account of the
equitable considerations referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include,
subject to the limitations set forth above, any reasonable legal or other reasonable expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall
an Initial Purchaser be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Initial Purchaser with respect to the offering of the Securities exceeds the amount of any damages that
such Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Initial Purchasers’ obligations to contribute pursuant to this Section 7 are several in proportion to their
respective purchase obligations hereunder and not joint. 
 (f) Non-Exclusive Remedies. The
remedies provided for in this Section 7 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 

8. Termination. This Agreement may be terminated in the absolute discretion of the Representative, by notice to the Company, if after
the execution and delivery of this Agreement and on or prior to the Closing Date (i) trading generally shall have been suspended or materially limited on the New York Stock Exchange or the Nasdaq Global Select Market; (ii) trading of any
securities issued or guaranteed by the Company shall have been suspended on any exchange or in any over-the-counter market; (iii) a general moratorium on commercial
banking activities shall have been declared by U.S. federal or New York State authorities; or (iv) there shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any calamity or crisis, either within
or outside the United States, that, in the judgment of the Representative, is material and adverse and makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated
by this Agreement, the Time of Sale Information and the Offering Memorandum. 

  
 19 

 9. Defaulting Initial Purchaser. 

(a) If, on the Closing Date, any Initial Purchaser defaults on its obligation to purchase the Securities that it has agreed to purchase
hereunder, the non-defaulting Initial Purchasers may in their discretion arrange for the purchase of such Securities by other persons satisfactory to the Company on the terms contained in this Agreement. If,
within 36 hours after any such default by any Initial Purchaser, the non-defaulting Initial Purchasers do not arrange for the purchase of such Securities, then the Company shall be entitled to a further period
of 36 hours within which to procure other persons satisfactory to the non-defaulting Initial Purchasers to purchase such Securities on such terms. If other persons become obligated or agree to purchase the
Securities of a defaulting Initial Purchaser, either the non-defaulting Initial Purchasers or the Company may postpone the Closing Date for up to five full business days in order to effect any changes that in
the opinion of counsel for the Company or counsel for the Initial Purchasers may be necessary in the Time of Sale Information, the Offering Memorandum or in any other document or arrangement, and the Company agrees to promptly prepare any amendment
or supplement to the Time of Sale Information or the Offering Memorandum that effects any such changes. As used in this Agreement, the term “Initial Purchaser” includes, for all purposes of this Agreement unless the context otherwise
requires, any person not listed in Schedule 1 hereto that, pursuant to this Section 9, purchases Securities that a defaulting Initial Purchaser agreed but failed to purchase. 

(b) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Initial Purchaser or Initial Purchasers by
the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased does not exceed one-eleventh of the aggregate principal amount of all the Securities, then the Company shall have the right to require each non-defaulting Initial Purchaser to purchase the
principal amount of Securities that such Initial Purchaser agreed to purchase hereunder plus such Initial Purchaser’s pro rata share (based on the principal amount of Securities that such Initial Purchaser agreed to purchase
hereunder) of the Securities of such defaulting Initial Purchaser or Initial Purchasers for which such arrangements have not been made. 

(c) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Initial Purchaser or Initial Purchasers by
the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased exceeds
one-eleventh of the aggregate principal amount of all the Securities, or if the Company shall not exercise the right described in paragraph (b) above, then this Agreement shall terminate without liability
on the part of the non-defaulting Initial Purchasers. Any termination of this Agreement pursuant to this Section 9 shall be without liability on the part of the Company, except that the Company will
continue to be liable for the payment of expenses as set forth in Section 10 hereof and except that the provisions of Section 7 hereof shall not terminate and shall remain in effect. 

(d) Nothing contained herein shall relieve a defaulting Initial Purchaser of any liability it may have to the Company or any non-defaulting Initial Purchaser for damages caused by its default. 
 10. Payment of Expenses.

 (a) Whether or not the transactions contemplated by this Agreement are consummated or this Agreement is terminated, the Company agrees to
pay or cause to be paid all costs and expenses incident to the performance of its obligations hereunder, including without limitation, (i) the costs incident to the authorization, issuance, sale, preparation and delivery of the Securities and
any taxes payable thereon; (ii) the costs incident to the preparation and printing of the Preliminary Offering Memorandum, any other Time of Sale Information, any Issuer Written Communication and the Offering Memorandum (including any amendment
or supplement thereto) and the distribution thereof; (iii) the costs of reproducing and distributing each of the Transaction Documents; (iv) the reasonable fees and expenses of the Company’s counsel and independent accountants;
(v) the fees and expenses incurred in 

  
 20 

 
connection with the registration or qualification and determination of eligibility for investment of the Securities under the laws of such jurisdictions (including Canada) as the Representative
may designate and the preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and expenses of counsel for the Initial Purchasers); (vi) any fees charged by rating agencies for rating the Securities; (vii) the
fees and expenses of the Trustee and any paying agent (including related fees and expenses of any counsel to such parties as may be agreed by the Company, the Trustee, and the paying agent); (viii) all expenses and application fees incurred in
connection with the application for the approval of the Securities for book-entry transfer by DTC; and (ix) all expenses incurred by the Company in connection with any “road show” presentation to potential investors (except that,
subject to Section 10(b), the Initial Purchasers shall pay 100% of the cost of any aircraft used in connection with the “road show”). 

(b) If (i) this Agreement is terminated pursuant to Section 8 (other than as the result of an event of the type described in
Section 8(i)), (ii) the Company for any reason fails to tender the Securities for delivery to the Initial Purchasers or (iii) the Initial Purchasers decline to purchase the Securities for any reason permitted under this Agreement, the
Company agrees to reimburse the Initial Purchasers for all out-of-pocket costs and expenses (including the reasonable fees and expenses of their counsel and the full
cost of any aircraft used in connection with the “road show”)) reasonably incurred by the Initial Purchasers in connection with this Agreement and the offering contemplated hereby. 

11. Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be binding upon the parties hereto, and
to the benefit of the indemnified parties referred to in Section 7 hereof, and in each case their respective successors. Nothing in this Agreement is intended or shall be construed to give any other person any legal or equitable right, remedy
or claim under or in respect of this Agreement or any provision contained herein. No purchaser of Securities from any Initial Purchaser shall be deemed to be a successor merely by reason of such purchase. 

12. Survival. The respective indemnities, rights of contribution, representations, warranties (it being understood that such
representations and warranties are made only as of the date hereof and as of the date of any officer’s certificate delivered pursuant to Section 6(d)) and agreements of the Company and the Initial Purchasers contained in this Agreement or
made by or on behalf of the Company or the Initial Purchasers pursuant to this Agreement or any certificate delivered pursuant hereto shall survive the delivery of and payment for the Securities and shall remain in full force and effect, regardless
of any termination of this Agreement or any investigation made by or on behalf of the Company or the Initial Purchasers. 
 13. Certain
Defined Terms. For purposes of this Agreement, (a) except where otherwise expressly provided, the term “affiliate” has the meaning set forth in Rule 405 under the Securities Act; (b) the term “business day” means
any day other than a day on which banks are permitted or required to be closed in New York City; (c) the term “Exchange Act” means the Securities Exchange Act of 1934, as amended; (d) the term “subsidiary” has the
meaning set forth in Rule 405 under the Securities Act; and (e) the term “written communication” has the meaning set forth in Rule 405 under the Securities Act. 

14. Compliance with USA Patriot Act. In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the Initial Purchasers are required to obtain, verify and record information that identifies their respective clients, including the Company, which information may
include the name and address of their respective clients, as well as other information that will allow the Initial Purchasers to properly identify their respective clients. 

  
 21 

 15. Miscellaneous. 

(a) Authority of the Representative. Any action by the Initial Purchasers hereunder may be taken by Morgan Stanley & Co. LLC
on behalf of the Initial Purchasers, and any such action taken by Morgan Stanley & Co. LLC shall be binding upon the Initial Purchasers. 

(b) Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed
or transmitted and confirmed by any standard form of telecommunication. Notices to the Initial Purchasers shall be given to the Representative c/o Morgan Stanley & Co. LLC, 1585 Broadway, New York, New York 10036, Attention: High Yield
Syndicate Desk, with a copy to the Legal Department. Notices to the Company shall be given to it at Netflix, Inc., 100 Winchester Circle, Los Gatos, California 95032 (fax: (408) 317-0414); Attention: David
Wells with a copy to Wilson Sonsini Goodrich Rosati, Professional Corporation, 650 Page Mill Road, Palo Alto, California 94304 (fax: (650) 493-6811); Attention John A. Fore. 

(c) Governing Law. This Agreement and any claim, controversy or dispute arising under or related to this Agreement shall be governed by
and construed in accordance with the laws of the State of New York. 
 (d) Waiver of Jury Trial. Each of the parties hereto hereby
waives any right to trial by jury in any suit or proceeding arising out of or relating to this Agreement. 
 (e) Counterparts. This
Agreement may be signed in counterparts (which may include counterparts delivered by any standard form of telecommunication or electronic .pdf transmission), each of which shall be an original and all of which together shall constitute one and the
same instrument. 
 (f) Amendments or Waivers. No amendment or waiver of any provision of this Agreement, nor any consent or approval
to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by the parties hereto. 
 (g)
Headings. The headings herein are included for convenience of reference only and are not intended to be part of, or to affect the meaning or interpretation of, this Agreement. 

[Remainder of page intentionally left blank] 

  
 22 

 If the foregoing is in accordance with your understanding, please indicate your acceptance of
this Agreement by signing in the space provided below. 
  

			
	 Very truly yours,
 NETFLIX,
INC.

		
	By:	 	/s/ David Wells
		 	Name: David Wells
		 	Title: Chief Financial Officer

 [Netflix – Signature Page to Purchase Agreement] 

			
	Accepted: April 23, 2018
	
	MORGAN STANLEY & CO. LLC
		
		 	 For itself and on behalf of the
 several Initial
Purchasers listed
 in Schedule 1 hereto.

		
	By:	 	/s/ Andrew W. Earls
		 	 Authorized Signatory

 [Netflix – Signature Page to Purchase Agreement] 

 Schedule 1 
  

					
	 Initial Purchaser
	  	Principal Amount of the
Securities to be Purchased	 
	 Morgan Stanley & Co. LLC
	  	$	741,000,000	 
	 Goldman Sachs & Co. LLC
	  	$	418,000,000	 
	 J.P. Morgan Securities LLC
	  	$	228,000,000	 
	 Deutsche Bank Securities Inc.
	  	$	228,000,000	 
	 Wells Fargo Securities, LLC
	  	$	228,000,000	 
	 Allen & Company LLC
	  	$	57,000,000	 
		  	  
	  
	 
	 Total
	  	$	1,900,000,000	 
		  	  
	  
	 

 Schedule 2 

Netflix Entretenimento Brasil LTDA 
 Netflix International B.V.

 Netflix K.K. 
 Netflix Streaming Services, Inc. 

Netflix Studios, LLC 
 NetflixCS, Inc. 

 Schedule 3 

The Company’s streaming services are generally available worldwide, other than in the People’s Republic of China, Crimea, North Korea
and Syria. 
 The Company held meetings in Cuba in April 2016. 

 ANNEX A 
  

	a.	Additional Time of Sale Information 

  

	 	1.	Term sheet containing the terms of the Securities, substantially in the form of Annex B. 

 ANNEX B 

[See attached] 

 

 
 $1,900,000,000 5.875% Senior Notes due 2028 

Pricing term sheet dated April 23, 2018 to Preliminary Offering Memorandum dated April 23, 2018 of Netflix, Inc. (the “Company”) 

This pricing term sheet is qualified in its entirety by reference to the Preliminary Offering Memorandum. The information in this pricing term sheet
supplements the Preliminary Offering Memorandum and supersedes the information in the Preliminary Offering Memorandum to the extent inconsistent with the information in the Preliminary Offering Memorandum. Other information (including financial
information) presented in the Preliminary Offering Memorandum is deemed to have changed to the extent affected by the changes described herein. 
 The
notes have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and are being offered only to (1) “qualified institutional buyers” as defined in Rule 144A under the Securities
Act and (2) outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. 
 Change in Offering Size 

The total size of the offering has been increased from $1,500,000,000 to $1,900,000,000. The proceeds received from the increase of $400,000,000 will be used
for general corporate purposes. Corresponding changes will be made where applicable throughout the Preliminary Offering Memorandum. 
  

			
		
	Issuer:	  	Netflix, Inc.
		
	Guarantees:	  	The notes generally are not required to be guaranteed by any subsidiaries. In the future, the notes may be guaranteed on a senior unsecured basis by certain domestic subsidiaries.
		
	Security Description:	  	Senior Unsecured Notes
		
	Face:	  	$1,900,000,000, which represents a $400,000,000 increase from the face amount in the Preliminary Offering Memorandum
		
	Gross Proceeds:	  	$1,900,000,000
		
	Coupon:	  	5.875%
		
	Maturity:	  	November 15, 2028
		
	Offering Price:	  	100% plus accrued interest, if any, from April 26, 2018
		
	Yield to Maturity:	  	5.875%
		
	Spread to Treasury:	  	+291 basis points
		
	Benchmark:	  	UST 5.25% due November 15, 2028
		
	Interest Payment Dates:	  	May 15 and November 15 of each year, commencing November 15, 2018

			
		
	Record Dates:	  	May 1 and November 1 of each year
		
	Optional Redemption:	  	Make-whole call at Treasury Rate plus 50 basis points, prior to maturity
		
	Change of Control:	  	Offer to purchase at price of 101% of principal plus accrued interest
		
	Trade Date:	  	April 23, 2018
		
	Settlement Date:	  	April 26, 2018 (T+3)
		
	CUSIP:	  	144A: 64110L AQ9
		  	Reg S: U74079 AJ0
		
	ISIN:	  	144A: US64110LAQ95
		  	Reg S: USU74079AJ03
		
	Joint-Lead and Bookrunning Managers:	  	Morgan Stanley & Co. LLC
		  	Goldman Sachs & Co. LLC
		  	J.P. Morgan Securities LLC
		  	Deutsche Bank Securities Inc.
		  	Wells Fargo Securities, LLC
		
	Co-Manager:	  	Allen & Company LLC
		
	Distribution:	  	144A/Regulation S with no registration rights
		
	Denominations/Multiples:	  	2,000 x 1,000

 This material is confidential and is for your information
only and is not intended to be used by anyone other than you. This information does not purport to be a complete description of the notes or the offering. Please refer to the Preliminary Offering Memorandum for a complete description. 

This communication is being distributed in the United States solely to qualified institutional buyers, as defined in Rule 144A under the Securities Act,
and outside the United States solely to non-U.S. persons, as defined under Regulation S. 
 This communication does not constitute an offer to
sell the notes and is not a solicitation of an offer to buy the notes in any jurisdiction where the offer or sale is not permitted. 
 Any
disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent via Bloomberg or another
communication system. 

 ANNEX C 

Restrictions on Offers and Sales Outside the United States 

In connection with offers and sales of Securities outside the United States: 

(a) Each Initial Purchaser acknowledges that the Securities have not been registered under the Securities Act and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in transactions not subject to, the registration requirements of the Securities Act. 

(b) Each Initial Purchaser, severally and not jointly, represents, warrants and agrees that: 

(i) Such Initial Purchaser has offered and sold the Securities, and will offer and sell the Securities, (A) as part of
their distribution at any time and (B) otherwise until 40 days after the later of the commencement of the offering of the Securities and the Closing Date, only in accordance with Regulation S under the Securities Act (“Regulation
S”) or Rule 144A or any other available exemption from registration under the Securities Act. 
 (ii) None of such
Initial Purchaser or any of its affiliates or any other person acting on its or their behalf has engaged or will engage in any directed selling efforts with respect to the Securities, and all such persons have complied and will comply with the
offering restrictions requirement of Regulation S. 
 (iii) At or prior to the confirmation of sale of any Securities sold in
reliance on Regulation S, such Initial Purchaser will have sent to each distributor, dealer or other person receiving a selling concession, fee or other remuneration that purchases Securities from it during the distribution compliance period a
confirmation or notice to substantially the following effect: 
 “The Securities covered hereby have not been registered under the U.S.
Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time or
(ii) otherwise until 40 days after the later of the commencement of the offering of the Securities and the date of original issuance of the Securities, except in accordance with Regulation S or Rule 144A or any other available exemption from
registration under the Securities Act. Terms used above have the meanings given to them by Regulation S.” 
 (iv) Such
Initial Purchaser has not and will not enter into any contractual arrangement with any distributor with respect to the distribution of the Securities, except with its affiliates or with the prior written consent of the Company. 

Terms used in paragraph (a) and this paragraph (b) and not otherwise defined in this Agreement have the meanings given to them by Regulation S. 

(c) Each Initial Purchaser, severally and not jointly, represents, warrants and agrees that: 

 (i) it has only communicated or caused to be communicated and will only
communicate or cause to be communicated any invitation or inducement to engage in investment activity (within the meaning of Section 21 of the United Kingdom Financial Services and Markets Act 2000 (the “FSMA”)) received by it
in connection with the issue or sale of any Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company; and 

(ii) it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation
to the Securities in, from or otherwise involving the United Kingdom. 
 (d) Each Initial Purchaser acknowledges that no action has been or
will be taken by the Company that would permit a public offering of the Securities, or possession or distribution of any of the Time of Sale Information, the Offering Memorandum, any Issuer Written Communication or any other offering or publicity
material relating to the Securities, in any country or jurisdiction where action for that purpose is required. 
 (e) Each Initial Purchaser acknowledges
that the Securities are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (“EEA”). For these purposes, a
retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or (ii) a customer within the meaning of Directive
2002/92/EC, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC (as amended, the “Prospectus
Directive”). For these purposes, the expression “offer” includes the communication in any form and by any means of sufficient information on the terms of the offer and the Securities to be offered so as to enable an investor to decide
to purchase or subscribe for the Securities. 

 ANNEX D 

[See attached]Exhibit 4.17

 

English Translation

 

National Trust · Jialong No.40 Single Fund Trust

 

LOAN AGREEMENT

 

Contract Number: NT TUO ZI 17-004-40-02

 

The Borrower (the “Party A”): Beijing Secoo Trading Limited

 

Postcode: 100037

 

Domicile: Suite 2405, Building 31, No.25, North Yuetan Street, Xicheng District, Beijing

 

Legal Representatives: Li Rixue

 

Fax: ***

 

Tel: ***

 

The Lender (the “Party B”): National Trust Co., Ltd.

 

Postcode: 100011

 

Domicile: No.1, Block 18, Anwai Xibinhe Road, Doncgheng District, Beijing

 

Legal Representatives: Yang Xiaoyang

 

Fax: ***

 

Tel: ***

 

Whereas,

 

National Trust Co., Ltd. and Xiamen International Co., Ltd Company (the “Client”) entered into the National Trust · Jialong No. 40 Single Fund Trust Agreement (the “Trust Agreement”), numbered (NT TUO ZI 17-004-40-02) on October 27, 2017. In accordance with the Trust Agreement, funds legitimately possessed by the Client shall be under management, utilization and disposal of Party B and Party B shall issue loans to Party A through the trust fund.

 

Pursuant to Contract Law of People’s Republic of China and relevant laws and regulations, based on mutual consent of providing loan to Party A by Party B, Party A and Party B conclude this Agreement (the “Agreement”).

 

Article 1 Amount of Loan

 

1.1       The loan under this Agreement is from the trust fund managed by Party B in accordance with the Trust Agreement.

 

1.2       The total amount of the loan to Party A by Party B is RMB150,000,000. The loan can be provided in installment. The amount of each installment loan shall be decided by the confirmation letter annexed hereto (The example of the confirmation letter can be referred to the Schedule). The actual amount of loan under this Agreement shall be subject to the amount of issued loan.

 

Article 2 Loan Purpose

 

The loan issued to Party A shall be only used for its circulation of floating funds, which means procurement of products. The loan under this Agreement shall not be used for equity investment, fixed-asset investment (including first-level development of land, construction of infrastructure project and so on) and shall not be used for repayment of other banks’ or other financial institutions’ loan for the above-mentioned purposes. Without written consent of Party B, Party A shall not dispose the loan for other purposes. The loan shall not be used for sectors and purposes where production and operation are prohibited by the State. Party A are not allowed for arbitrarily change the purpose of the loan. Party B are entitled to supervise and inspect utilization of any loan under this Agreement relying on its own or third party. However, Party B shall take no responsibility for any legal consequences incurred by utilizing the loan under this Agreement.

 

 

Article 3 Loan Period

 

3.1       The loan period under this Agreement is 912 days, from November 9, 2017 to May 9, 2020. The period of each installment loan shall be decided by the confirmation letter annexed hereto (The example of the confirmation letter can be referred to the Schedule). Provided discrepancies between the agreed issuing date and the actual issuing date, the actual issuing date shall prevail.

 

3.2       The period of the loan under this Agreement shall not be extended without prior written consent of Party B.

 

Article 4 Loan Disbursement

 

4.1       Once the loan under this Agreement is transferred to the designated loan account as stipulated in Term 2 of this Article, it is deemed that Party B fulfills its obligations of disburse the loan and Party A withdraws the loan under this Agreement. The loan interests shall be calculated since the exact withdrawal date of Party B.

 

4.2       Party A shall establish a specialized loan bank account (the “loan account”) for the trust fund. The information of the account is listed below:

Username: ***

Account Bank: ***

Account No.:***

 

4.3       The above-mentioned bank account shall be exclusively used for receiving, repaying and other relevant matters of the loan.

 

Article 5 Calculation, Settlement of Lending Interest and Default Interest

 

5.1       Lending Interest

 

The lending interest under this Agreement is an annual rate, which is specified under (1),

 

(1)         a fixed rate of 3.38%, which shall remain the same during the loan period;

 

(2)         a floating rate: a floating rate period is every full-year period upon the issuance day of the loan. The floating rate shall be determined on the issuance day, and every full year upon the issuance day (the “Rate Determination Day”). The lending rate of every loan under this Agreement from the issuance day of the loan to the next Rate Determination Day (not included), shall be decided by the __/__% of __/__ year RMB benchmark annual interest rate plus __/__ year RMB benchmark annual interest rate published by People’s Bank of China on the issuance day of the loan. The lending interest of every floating rate period shall be determined by the fixed rate on the Rate Determination Day, which is __/__% of __/__ year RMB benchmark annual interest rate plus __/__ year RMB benchmark annual interest rate published by People’s Bank of China on the Rate Determination Day. Even if the RMB benchmark annual interest rate is adjusted by People’s Bank of China on a floating rate period, the lending interest shall remain.

 

(3)         Others: ___________________________/____________________________

 

5.2       Default Interest

 

(1)         Provided that Party A disobeys the set purposes of the loan, the default interest of the loan shall be 100% of the lending interest plus the lending interest. The default interest shall be correspondingly altered if the lending interest is altered according to Term.1 ___/__of this Article.

 

(2)         Provided the loan is overdue repaid, the default interest of the loan shall be 30% of the lending interest an overdue loan. The default interest shall be correspondingly altered if the lending interest is altered according to Term.1 ___/__of this Article.

 

 

(3)         Provided that Party A disobeys the set purposes of the loan and a loan is overdue repaid, the way mentioned above with a higher default interest shall be adopted for calculated the default interest and compound interest.

 

5.3       The lending interest shall be calculated daily. The daily lending interest = monthly lending interest /30 = annual lending interest/360. If Party A fails to pay the lending interest, the compound interest shall be calculated next day.

 

5.4       Settlement of the lending

 

(1)         The lending interest of the loan adopting a fixed rate shall be settled according to the agreed rate. The lending interest of the loan adopting a floating rate shall be settled according to the specified rate of each floating rate period. Provided several alterations of floating rate in a settlement period, the interests of the floating rate period shall be calculated first; the interests of all floating rate periods shall be added up on the final settlement day.

 

(2)         The lending interests shall be settled in accordance with (ii): (i) Monthly settlement: the settlement day is the 21st day of every natural month; (ii) Quarterly settlement: the settlement day is the 21st day of the last month of every natural quarter; (iii)Others: ______________________________/____________________________.

 

Article 6 The Granting and Use of the Loan

 

6.1          Preconditions for granting the loan.

 

Except for Party B’s giving up in whole or in part in written form, Party B is only obliged to issue the loan to Party A only if all the following conditions are met:

 

(1)         This Agreement has been signed comes into force;

 

(2)         The trust established in the capital trust agreement is established and effective, and the trustor has fully delivered the trust funds for the trust loan under this Agreement;

 

(3)         Party A has completed the approval, registration, delivery, insurance and other legal procedures related to the trust loan under this Agreement;

 

(4)         If this Agreement has a guarantee, the relevant guarantee documents (if any) have been effectively signed and all the registration procedures for ensuring the validity of the guarantee have been completed and continue to be valid;

 

(5)         Party A has opened a loan account according to the requirements of Party B for withdrawal and repayment;

 

(6)         As of the granting date of the loan, Party A does not have any breach of this Agreement or any situation that may jeopardize the security of Party B’s creditor’s rights;

 

(7)         The laws, regulations, rules or the competent authority shall not prohibit or restrict the Party B from granting the loan under this Agreement;

 

(8)         Other reasonable conditions proposed by Party B.

 

6.2          If Party A’s actual withdrawal date exceeds 90 days from the date of signing of this Agreement, Party B has the right to refuse to grant and cancel all loans, and it is not considered that Party B has breached this Agreement.

 

Article 7 Repayment

 

7.1           Repayment Principles

 

The repayment of Party A under this Agreement shall be in accordance with the following principles:

 

Party B has the right to use Party A’s repayment first to repay the expenses paid by Party B that shall be borne by Party A according to this Agreement and Party B’s cost of realizing the creditor’s rights. In the event that Party A defaults on the loan principal and interest at the same time, Party B has the right to determine the order of repayment; In the case of repayment by installments, if there are multiple due loans and overdue loans under this Agreement, Party B has the right to determine the repayment order of a certain amount of repayment by Party A; If there are multiple expired loan agreements between Party A and Party B, Party B has the right to determine the order of the agreements executed by Party A for each repayment.

 

 

The deposit or fund so increased in the preceding paragraph shall be pledged as security in favor of the Pledgee for repayment of the debts provided under the Principal Contract.

 

7.2       Interest payment

 

Party A shall pay Party B the due interest on the interest payment date. The first interest payment date is the first settlement date after the issuance of the loan. In the last repayment, interest is clear with Principal.

 

7.3       The repayment of principal shall be determined in accordance with subsection (1):

 

(1)         Pay interest on time and pay off the principal once: the date of repayment of principal is the due date of the loan, and the interest payment date is the date of the settlement date stipulated in this Agreement, Party A shall pay the interest on the loan on schedule and repay the principal and remaining interest of the loan in a lump sum.

 

(2)         Interest is clear with Principal: the date of repayment of principal and the interest payment date are the maturity date of the loan, Party A shall repay the principal and interest of the loan in a lump sum.

 

(3)         Equal diminishing method: Party A shall pay the loan principal in installments in equal amount, the date of repayment of principal and the interest payment date are the date of the settlement date stipulated in this Agreement. The first date of repayment of principal and the payment of interest is       /     , the last installment is the maturity date of the loan, Party A pays the remaining principal and interest. Calculation formula:

 

The amount of principal and interest paid for each installment= Loan principal/ Total repayment periods+ Loan balance*Annual interest rate* Number of days of the interest period/360.

 

(4)         The equality corpus modes: The loan principal and interest of party A shall be returned in installments, the date of repayment of principal and the interest payment date are the date of the settlement date stipulated in this Agreement, Party A pays the principal and interest of one period. The first date of repayment of principal and the payment of interest is       /    , the last installment is the maturity date of the loan, Party A pays the remaining principal and interest. Calculation formula:

 

The amount of principal and interest paid for each installment=

 

	
 
    	
Loan   pricipla * (1 + Interest rate)Repayment periods * Interest rate
    	
 
    
	
 
    	
(1 + Interest rate)Repayment periods – 1
    	
 
    

 

(5)         Others:            /        .

 

7.4       Repayment method

 

Party A shall pay the loan principal and interest to the designated trust property account on time and in full in accordance with the above stipulations:

 

Name: ***

Opening bank: ***

Account number: ***

 

7.5       Pre-payment

 

(1)         When Party A repays the principal and interest in advance, Party A must notify Party B and the trustor under the capital trust agreement in advance and obtain the written consent of Party B and the trustor.

 

(2)         Party B has the right to require Party A to repay the loan ahead of time in accordance with this Agreement.

 

(3)         If Party A repays in advance, Party A shall pay Party B corresponding compensation in accordance with        /        .

 

 

(4)         In the event of prepayment, Party A shall pay off the principal, interest and all other expenses (if any) of the loan under this Agreement to the date of the prepayment at the same time.

 

7.6           Party A shall pay the principal and interest of the loan in full and on time as stipulated in this Agreement, Party A authorizes Party B to unilaterally instruct Xiamen International Bank Co., Ltd. to take initiative to collect loan principal, interest, penalty interest, compound interest, default penalty and other expenses as agreed under this Agreement from the account funds opened by Party A at Xiamen International Bank Co., Ltd. Beijing Branch. Such payment may be the original currency of the loan or other currency used to convert into the equivalent of the loan currency.

 

Article 8 Guarantee of the Loan

 

8.1           The method of guarantee under this Agreement shall be (5) of the below:

 

(1)         Providing mortgage guarantee with ____/____ located at ____/____ which is owned by ____/____ to secure the repayment of all the debts owed by Party A to Party B under this Agreement and giving Party B the first priority for claim (the mortgage contract is otherwise attached).

 

(2)         Providing individual joint liability guarantee by ____/____ to secure the repayment of all the debts owed by Party A to Party B under this Agreement Guarantee (the guarantee contract is otherwise attached).

 

(3)         Providing corporate joint liability guarantee by ____/____ to secure the repayment of all the debts owed by Party A to Party B under this Agreement Guarantee (the share pledge contract is otherwise attached).

 

(4)         Providing pledge guarantee with ____/____% shares of ____/____ and the interest thereof owned by ____/____ to secure the repayment of all the debts owed by Party A to Party B under this Agreement and giving Party B the first priority for claim (the mortgage contract is otherwise attached).

 

(5)         Providing pledge guarantee with the term deposit in the amount no less than RMB154,639,175.25 deposited by Hong Kong Secoo Investment Group Limited at Xiamen International Bank Co., Ltd. Beijing Branch and the interest thereof to secure the repayment of all the debts owed by Party A to Party B under this Agreement and giving Party B the first priority for claim (the deposit account pledge agreement is otherwise attached).

 

(6)         Other: ____/____.

 

Party B will sign guarantee contract with the guarantor separately and has the right to request the guarantor to complete relevant registration formalities.

 

8.2       If the guarantor provides a mortgage or pledge in physical assets, if required by Party B, Party A shall acquire insurance for such physical assets and designate Party B as the first beneficiary. The insurance period shall not be shorter than the term of the mortgage or the pledge, and the originals of the related insurance documents shall be kept by Party B. During the insurance period, Party A shall not change, revoke or terminate the insurance or carry out other acts that are harmful to the insurance interests of Party B without the prior written consent of Party B.

 

8.3       In the event that Party A is in default or other cases in which the security rights will be realized occur, Party B has the right to select one or more of all the guarantee methods to realize its creditor’s rights, and also has the right to take other legal measures other than the above guarantee methods to realize its creditor’s rights.

 

Article 9 Party A’s Representations and Warranties

 

9.1       Party A is a corporate legal person which is legally established and validly existing in accordance with the law of the People’s Republic of China, has independent and complete civil capacity to act, and is legally qualified to sign and perform this Agreement. The signing and performance of this Agreement by Party A has obtained its shareholders’ or board of directors’ or other competent authority’s full authorization and does not conflict with any other contracts that have been signed or are being performed by it.

 

9.2       Party A has fully understood all the terms and contents of this Agreement. This loan is the true and effective declaration of intention by Party A.

 

 

9.3       Party A guarantees the authenticity, accuracy and integrity of all the information provided to Party B, which does not contain any major mistake not in conformity with the facts, false records, or omission of any important facts.

 

9.4       The signing of this Agreement and performance of the obligations under this Agreement by Party A are in conformity with the laws, administrative regulations, regulations, and Party A’s articles of association or other internal constitutional documents.

 

9.5       Other: Party A has legitimate business operations, good credit, no credit default, evasion of bank debts and other bad records and has sound organizational and financial management systems. There is no major violation of rules and regulations in the process of its production and management in the last year. There is no significant bad record for its current senior managers. Party A undertakes that the use of proceeds under this Agreement is decent and legitimate. Party A does not conceal from Party B any events that have occurred or are occurring and may affect its financial situation and the ability to repay the debt, such as mediation, arbitration, litigation, compulsory enforcement and illegal events that may jeopardize Party B’s rights and interests. There is no ongoing lawsuit, arbitration, other administrative proceeding or claim that may affect Party A’s signing or performance of this Agreement and its repayment of the debts hereunder.

 

Article 10 Rights and Obligations of Party A

 

10.1            Rights of Party A

 

(1)         Party A has the right to require Party B to provide the loan in accordance with this Agreement.

 

(2)         Party A has the right to use the loan for the purposes specified in this Agreement.

 

(3)         The right to request Party B to keep confidential with the relevant financial information and the business secrets in production and operation provided by Party A, unless otherwise provided for by laws, regulations and rules or otherwise specified in this Agreement.

 

(4)         Other rights in accordance with the Laws and regulations or this Agreement.

 

10.2            Obligations of Party A

 

(1)         Party A agrees to cooperate with Party B in the management of the loan. Party A shall, in accordance with the requirements of Party B, provide Party B with relevant information on the financial and accounting data, production and business status, and relevant written instructions on a quarterly basis.

 

(2)         Party A shall cooperate and accept the inspection and supervision of Party B on its production and operation, financial activities and the use of the loan. Party B’s expenses incurred due to Party A’s refuse shall be borne by Party A.

 

(3)         Party A shall use the loan in accordance with the purpose specified in this Agreement and inform Party B the use of the loan. Party A shall not divert, misappropriate, or invest the loan funds into the stock market, futures market, real estate market and other industries and areas prohibited by laws and regulations directly or indirectly, and shall not violate other legal restrictions or prohibitions on the use of the loan.

 

(4)         Without the prior written consent of Party B, Party A shall not transfer the debt liability under this Agreement directly or indirectly.

 

(5)         Party A shall return the principal and interest of the loan in full amount and on schedule according to the provisions of this Agreement.

 

(6)         Party A and its investors shall not withdraw funds or transfer assets to evade the debt to Party B.

 

(7)         Unless Party A pays off the principal and interest of the loan of Party B, Party A shall not provide any guarantee using the funds or assets from the loan under this Agreement.

 

 

(8)         During the term of this Agreement, Party A shall notify Party B in writing and obtain the consent of Party B if Party A provide guarantees, mortgages, pledges or other forms of guarantees for the debts of others, which may affect its repayment ability under this Agreement.

 

(9)         Party A shall promptly notify Party B and provide Party B with other guarantees on time in accordance with the requirements of Party B when the guarantor ceases operations, cancels registration, revokes its business license, bankrupt, and suffers losses and affect its guarantee capacity related to the loan, or the value of the collateral or pledged property of the loan is reduced, accidentally destroyed or lost, frozen, seized, requisitioned, expropriated or subject to dispute of ownership, etc.

 

(10)       During the term of this Agreement, Party A shall notify Party B in writing within 3 working days before the change and 7 working days after the change, and submit the business registration certificate to Party B if Party A changes the company’s articles of incorporation, name, legal representative (responsible person), residence, business scope, registered capital, shareholders, etc. In addition, Party A shall implement the liquidation and guarantee of the loan in accordance with the requirements of Party B.

 

(11)       During the term of this Agreement, Party A shall notify Party B in writing 30 working days in advance and obtain the consent of Party B if Party A reduces the registered capital, contracting, leasing, joint-stock reform, joint venture, merger, division, suspension of business, dissolution, filed for bankruptcy, and other situation may affect the realization of Party B’s credit rights. In addition, Party A shall implement the liquidation and guarantee of the loan in accordance with the requirements of Party B.

 

(12)       During the term of this Agreement, Party A shall promptly notify Party B in writing and implement the liquidation and guarantee of the loan in accordance with the requirements of Party B if Party A ceases operations, dissolves, liquidates, suspends reorganization, revoked, filed for bankruptcy, deregistered, business license revoked, involved in litigation activities, has serious difficulties in its production and operation, or has a deteriorating financial condition, or the legal representative, principal responsible person or member of the board of directors, current senior management personnel engaged in illegal activities or suspected major cases or economic disputes or administrative punishments, and has a material adverse effect on the performance of the repayment obligations of Party A under this Agreement.

 

(13)       Party A shall bear the costs of lawyer services, insurance, assessment, registration, custody, appraisal, notarization, and auditing related to the loan or the guarantees.

 

(14)       When Party B transfers the creditor’s rights under this Agreement to the principal or a third party, Party A is obliged to continue to perform the repayment obligations under this Agreement to the contractor’s successor.

 

(15)       When Party B transfers the creditor’s right under this Agreement to the principal or a third party, which causes the transfer of the security right arising from the transfer of the principal creditor’s rights, Party A shall cooperate unconditionally in accordance with the requirements of Party B and/or the successor.

 

(16)       Party A may not transfer any rights under this Agreement without Party B’s prior written consent.

 

(17)       Party A shall notify Party B and follow Party B’s requirements to implement the settlement and guarantee of the debt, if Party A has one of the following circumstances, including involves or may be involved in major economic disputes, lawsuits, arbitrations, or the property is seized, frozen, detained, or supervised according to law; violates laws and regulations related to food safety, production safety, and environmental protection, and has caused a liability accident, which has or may adversely affect the performance of its obligations under this Agreement; or other events that adverse effect its ability to repay the loan.

 

(18)       Party B has the right to inspect Party A’s management and application of the loan, and has the right to monitor the relevant accounts of Party A; Party A shall cooperate with Party B’s inspections, account monitoring, etc.

 

(19)       Other obligations under the laws and regulations and this Agreement.

 

 

Article 11 Rights and Obligations of Party B

 

11.1            Rights of Party B

 

(1)         Without obtaining any written consent of Party A or otherwise noticing Party A, Party B can assign or transfer the creditor’s right to a trustee (beneficiary) or a third party in accordance with the Fund Trust Contract.

 

(2)         To timely receive or receive in advance any payment of the loan principal, interest, late charge, default interest, compound interest and other expenses payable by Party A.

 

(3)         Party B has the right to obtain security in the form of guarantee and/or other forms from a third party to secure the trust loan under this Agreement, and to execute a separate guarantee contract or receive other guarantee documents as an attachment of this Agreement.

 

(4)         Party B has the right to carry out regular management over the loan provided by Party B, either by itself or through a third party entrusted by it. Such regular management includes but not limited to getting to know the production and operation as well as financial activities of Party A, and require Party A to provide materials regarding plan and statistics and financial reports, etc.

 

11.2            Obligations of Party B

 

(1)         Provide the loan in time and in full in accordance with this Agreement, except that the delay is caused by Party A.

 

(2)         Except as otherwise provided in the laws and regulations, keep confidential business secret in relation with financial information and production and operation provided by Party B.

 

Article 12 Liability for Breach of the Agreement

 

12.1.                     Breach of Contract

 

12.1.1.           Party A’s Breach of Contract

 

(1)         Party A’s breach of Representation and Warranties set forth in Article 9 in this Agreement.

 

(2)         Fail to provide real, complete and effective financial accounting, production and operation status and other related information as required by Party B, Or any issue that has been or may affect the performance of Party A’s obligations under this Agreement, including but not limited to:

 

a)       any other debt that cannot be repaid after expiration (including the announcement of early expiration)., or nonperformance or violation its duties under other contracts;

 

b)       deterioration of financial indicators such as profitability, solvency, operating capacity and cash flow, which may have or has had adverse effect to Party A’s performance of obligations under this Agreement;

 

c)        major adverse changes in the brand, the customer, the market channel, or the equity structure, production and operation, or foreign investment;

 

d)       the assets are seized, frozen, distrained, or enforced

 

e)        the involvement or potential involvement in major economic disputes, lawsuits, and arbitrations;

 

f)         to be investigated or punished by the judicial organs, the administrative organ of law enforcement such as the tax authority and the industry and commerce department, or the administrative authorities;

 

g)        the legal representative, the actual controller, the main individual investor, or the key manager is/are abnormally changed or get involved with major cases, be suspected to do criminal acts and be investigated or be restricted from freedom by the judicial authority, or the main assets of such person is taken by property preservation, or any other events that lead to their inability to perform their duties normally;

 

h)       go out of business, dissolve, liquidate, suspend business, be revoked of business license, be revoked or applied for bankruptcy;

 

i)           the happening of accident out of negligence due to the violation of relevant laws and regulations, governing rules, or industry standards of food safety, safety production, environmental protection and so on;

 

 

j)          other circumstances that may lead to the adverse effect of Party B’s claims under this Agreement.

 

(3)         The loan is not used in accordance with the agreed uses of the Parties.

 

(4)         Fail to fully return the principal and interest of the debt on time.

 

(5)         Refusing or obstructing Party B to carry out supervision and inspection on the use of the loan.

 

(6)         To transfer assets, or to withdraw contributed capital to escape debt.

 

(7)         The deterioration of the business and financial situation, which leads to the inability to liquidate the expired debt, or to involve in or be involved in major proceedings or arbitral proceedings and other legal disputes, which have affected or impair Party B’s rights and interests under this Agreement.

 

(8)         Any other debt of Party A has caused or may cause negative effect to its performance of obligations under this Agreement.

 

(9)         During the period of validity of the contract, to change the operation method or to transfer the operating mechanism by contract, lease, merger, acquisition, joint venture, separation, joint operation, and shareholding reform, and such actions has affected or impaired Party B’s rights and interests under this Agreement.

 

(10)  Any breach of contract by the guarantor under the relevant guarantee agreements.

 

(11)       Other events that endanger, damage, or may jeopardize or damage the rights and interests of Party B.

 

(12)       Party A has not fulfilled any of the obligations agreed under this Agreement or Party A has any other breach of contract under this Agreement.

 

12.1.2.           In case that the guarantee contract or other forms of guarantee (including but not limited to guarantee, mortgage, pledge) becomes invalid, ineffective, or be revoked, or the guarantor partly or totally lose the ability to provide guarantee, or any other adverse change to Party B, or the guarantor reject to perform its duty, if Party A fails to fulfil the new guarantee as required by Party B, it shall be considered as a breach of contract.

 

12.2.                     Remedies for breach of contract

 

Party B has the right to exercise the following one or several rights when breach of contract set forth in 12.1 occurs:

 

12.2.1.           Stop issuing the loan, declare the loan to expire immediately, and require Party A to immediately repay all due and undue principal, interest, and expenses of the debt under this Agreement.

 

12.2.2.           If Party A fail to use the loan as the way agreed by the Parties under this Agreement, Party B shall have the right to charge interest and compound interest to the diverted part, calculating from the day Party A divert the loan to the day that all principal and interests is paid in full, in accordance to the penalty interest rate and interest settlement method under this Agreement.

 

12.2.3.           If Party A fail to pay off on time (including all or part of the early expired interest, penalty interest, compound interest and all interest that shall be paid to Party B), besides to charge interest according to loan interest and interest settlement method set forth in Article 5, in respect of the portion of interest that has not been repaid overdue, the additional compound interest should be paid to Party B at the penalty interest rate set forth in Article 5 from the date of the interest payment date.

 

12.2.4.           After the loan is expired, the principal (including the principal of the loan announced by Party B to be fully or partially due in advance), from the date of overdue to the date of full settlement of principal and interest, the interest shall be charged according to loan interest and interest settlement method set forth in Article 5.  The overdue of the loan is the behavior that Party A fails to pay off the loan on schedule or exceed the time limit of the repayment plan agreed in the contract.

 

12.2.5.           To require Party A to provide new guarantees that meet the requirements of Party B for all the debts under this Agreement.

 

 

12.2.6.           All the expenses incurred by Party B for the realization of the creditor’s rights (including but not limited to the charges of litigation, the travel expense, the lawyer’s fee, etc.) shall be borne by Party A.

 

12.2.7.           Exercise the right of security.

 

12.2.8.           To rescind or terminate this Agreement.

 

12.2.9.           other relief measures stipulated in the laws and regulations

 

Article 13 Continuity of Obligations

 

All the obligations of Party B are continuous, and are binding upon Party B’s successors, agencies, receivers, transferors, and the relevant entities after any merger, reorganization or change of name by Party B.

 

Article 14 Dispute Resolution

 

14.1                        The formation, effectiveness, explanation, fulfillment and dispute resolution of this Agreement shall be construed in accordance with the laws of China (excluding laws of Hong Kong, Macao, and Taiwan).

 

14.2                        Any dispute arising from fulfillment of this Agreement shall be resolved by negotiation. Any dispute that cannot be so resolved shall be referred to the people’s court located in the place where this Agreement is executed. Articles of this Agreement that are not in dispute shall be performed during the law suit.

 

Article 15 Effectiveness

 

15.1                        This Agreement takes effect when it is sealed by Party A and signed by Party A’s legal representative or authorized signatory as well as sealed by Party B and signed by Party B’s legal representative or authorized signatory.

 

15.2                        Except as otherwise prescribed in this Agreement, any party shall not change or terminate this Agreement after this Agreement takes effect. If there is a need to change or terminate this Agreement, the Parties shall mutually negotiate and reach a written consensus.

 

Article 16 Miscellaneous

 

16.1                        Any matter that is not provided herein shall be reached by a written Contract between Party A and Party B separately, as a schedule of this Agreement. Any schedule or amendment or supplement of this Agreement constitutes an integral part, which has the same legal effect as this Agreement.

 

16.2                        If, at any time, any provision of this Agreement is or becomes invalid in any respect, neither the validity of the remaining provisions nor the validity of this Agreement will in any way be affected or impaired.

 

16.3                        Party A agrees Party B to seek information of Party A on the credit status from the credit database established by People’s Bank of China and credit reference agencies, or the relevant units and departments, and agrees Party B to use Party A and the borrowing information in accordance with the People’s Bank of China and credit information authorities. The information is entered into the credit database it approved for establishment

 

16.4                        This Agreement was signed in Xicheng District, Beijing.

 

16.5                        This Agreement is made in six originals, two for Party A, two for Party B and two for other applicants, and each of originals shall be equally effective.

 

16.6                        The guarantee documents and specific business vouchers (including but not limited to loan confirmation letters, relevant business vouchers issued by Party B, etc.) and other legal documents related to this Agreement are integral parts of the contract.

 

16.7                        Party B’s Failure to exercise or partial exercise or delayed exercise of any right under this Agreement will not constitute the waiver or the alteration of the right or any other right, nor does it affect further exercise of the right or any other rights.

 

 

16.8                        If, any provision of this Agreement is or becomes invalid or unenforceable in any respect, neither the validity or enforceability of the remaining provisions nor the validity or enforceability of this Agreement will in any way be affected or impaired.

 

16.9                        If, any provision of this Agreement be or become invalid in whole or in part, the validity of the Warranty Clauses shall not be affected thereby

 

Article 17 Other Matters Agreed by the Parties

 

17.1                        If Party A apply for withdrawal for the purpose of Section 2 hereof, it shall provide the relevant directional payment documents required by Party B before the withdrawal to Party B. Party B shall be entitled to review the relevant documents above, and determine the issuance and transfer of the facility according to the result of the review.

 

17.2                        During the term of this Agreement, the pledgor may provide deposit of RMB deposits in installments in compliance with this Agreement, Party A may apply for withdrawal in installments compliance with this Agreement, each instalment of withdrawal shall not exceed 1 year.

 

17.3                        During the term of this Agreement, without the written consent of Party B and trust settlor under the fund trust contract, Party A shall not borrow new foreign debt or accept new overseas guarantee, otherwise Party A shall be considered as a default, Party B shall be entitled to adopt the breach treatment measures stipulated in this Agreement.

 

17.4                        The Party A and the pledgor hereby undertake the source of the pledge deposits set forth in Section 8 Paragraph 1(5) hereof, is legitimate, reasonable and compliant, and commit to bear all the responsibilities arising therefrom otherwise.

 

17.5                        During the term of this Agreement, Party A undertakes to repay the principles and interests on time with its own capital, and shall not conduct Borrowing for Repaying, otherwise Party A shall be considered as a default, Party B shall be entitled to adopt the breach treatment measures stipulated in this Agreement, including recall the loan ahead of timeline.

 

17.6                        Any time during the term of this Agreement, the ratio between RMB principal balance of the loan and the RMB principal balance of the deposit of pledgor to Party B (the rate of pledge) shall not be higher than 97%.

 

17.7                        Party A and Party B has reached the following agreements in respect of delivery address for the various types of notifications, agreements, and other documents under this Agreement and for the relevant documents and legal documents in the event of a dispute and their corresponding legal consequences:

 

(1)         Party A confirms its valid delivery address as: Room 1503, Building C, Galaxy SOHO, Chaonei Street, Dongcheng District, Beijing.

 

(2)         The scope of application of the delivery address includes all types of notifications, agreements and other documents when both parties have not in dispute, the delivery of relevant documents and legal documents in the case of disputes in this Agreement, and all relevant legal procedures, such as the first instance, the second instance, the retrial and the execution procedure after the procedure when such dispute enters into a civil procedure.

 

 

(3)         Should the above delivery address of Party A need to be changed, it shall notify to Party B by the means of signing a supplementary agreement by both parties. In the process of civil proceedings, the change of delivery address of Party A shall also be notified to the court. If Party A fails to perform the notification obligation in the foregoing manner, the delivery address confirmed by both parties in this Agreement shall still be regarded as the effective delivery address. If due to reasons including the delivery address provided or confirmed by Party A being not accurate, the change of delivery address failing to be timely informed to Party B and the court pursuant to the relevant procedure, and Party A or its designated recipient refusing to sign, the legal instruments fail to be received in effect by Party A, (i) when delivered by mailing, the service date shall be the third day from the date of mailing; (ii) when directly delivered, the service date shall be on the day of delivery when the courier records the situation on the service return receipt on site. If the notification obligation has been performed in respect of the change of delivery address, the changed delivery address shall be the effective delivery address. With respect to the delivery address of Party A that has been expressly confirmed by parties in this Agreement, the court may directly send to such address by mailing; even if Party A fails to receive the documents sent by the court by mailing, such documents shall be deemed to have been serviced due to the confirmation in this Agreement.

 

Party A has fully read all the terms of this Agreement and the relevant guarantee documents. At the request of Party A, Party B has already made the corresponding explanation to the provisions of this Agreement and the relevant guarantee documents. Party A is fully aware and completely understand the meaning and the legal consequences of the provisions of this Agreement and the relevant guarantee documents, and is signing voluntarily as follows.

 

[Remainder of Page Intentionally Left Blank]

 

 

[Signature page to National Trust * Jialong No. 40 Single Fund Trust Loan Agreement (No. NT TUO ZI 17-004-40-02)]

 

Borrower (Official or Contract Seal): Beijing Secoo Trading Limited (北京寺库商贸有限公司)

 

Legal Representative/Authorized Person (Signature/Seal): /s/ Beijing Secoo Trading Limited

 

Signing Date:    (Day)    (Month),    (Year)

 

Lender (Official or Contract Seal): National Trust Co., Ltd. (国民信托有限公司)

 

Legal Representative/Authorized Person (Signature/Seal): /s/ National Trust Co., Ltd.

 

Signing Date:27 (Day) 10 (Month), 2017 (Year)

 

 

Schedule

 

National Trust · Jialong No. 40 Single Fund Trust

 

Confirmation Letter of the No. i Loan

 

The Borrower Beijing Secoo Trading Limited (北京寺库商贸有限公司) and the Lender National Trust Co., Ltd. (国民信托有限公司) entered into the “Loan Agreement of the National Trust · Jialong No. 40 Single Fund Trust (No. NT Tuo Zi 17-004-40-02)” on        (Day)         (Month),          (Year) (the “Agreement”), and the Lender makes the No. i Loan available to the Borrower on        (Day)        (Month),         (Year), and the Parties hereby agree that the elements with respect to the No. i Loan are as follows:.

 

(1)         Amount of No. i Loan: (amount in words)         ; (amount in figure)              ;

 

(2)         Term of No. i Loan:        Days, from (Day)      (Month),        (Year) to        (Day)      (Month),       (Year), and if the commencing date of the term is inconsistent with the actual date when the No. i Loan is made, such actual date when the No. i Loan is made shall prevail;

 

(3)         Repayment manner of No. i Loan:           ;

 

(4)         Others:           ;

 

As for any matters not stipulated herein, the Loan Agreement shall prevail.

 

Borrower: Beijing Secoo Trading Limited (北京寺库商贸有限公司)

 

Legal Representative/Authorized Person (Signature/Seal):

 

Lender: National Trust Co., Ltd. (国民信托有限公司)

 

Legal Representative/Authorized Person (Signature/Seal):

 

Signing Date:     (Day)    (Month),    (Year)

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