Document:

EX-4.2

 Exhibit 4.2 

FORM OF INITIAL SECURITY 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER (1) REPRESENTS THAT
(A) IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, OR
(B) IT IS NOT A U.S. PERSON (WITHIN THE MEANING OF REGULATIONS UNDER THE SECURITIES ACT) AND (2) AGREES FOR THE BENEFIT OF XEROX CORPORATION THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL
INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ONLY (A) TO XEROX CORPORATION OR ANY WHOLLY-OWNED SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION
STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (D) IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATIONS UNDER
THE SECURITIES ACT, OR (E) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(C) ABOVE OR (2)(D) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE
(THE FORM OF WHICH MAY BE OBTAINED FROM THE TRUSTEE) MUST BE 

 
DELIVERED TO THE TRUSTEE. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(E) ABOVE, THE COMPANY RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS,
CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE
AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 (FACE OF NOTE) 

XEROX CORPORATION 
 4.070%
SENIOR NOTE DUE 2022 
  

			
	No. [    ]	  	$[    ]

 [CUSIP NO:    ] 

Xerox Corporation, a New York corporation (herein called the “Company,” which term includes any successor Person under
the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co. or registered assigns, the principal sum of $[ ] ([ ] MILLION U.S. DOLLARS) on March 17, 2022, at the office or agency of the Company
referred to below, and to pay interest thereon from March 17, 2017, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually on March 15 and September 15 of each year, commencing
September 15, 2017, at the rate of 4.070% per annum, until the principal hereof is paid or duly provided for, and (to the extent lawful) to pay on demand interest on any overdue interest at the rate borne by the Notes from the date on which
such overdue interest becomes payable to the date payment of such interest has been made or duly provided for. All references to interest shall include Special Interest (as defined on the reverse of this Note). 

  
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 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1 or
September 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record
Date, and such Defaulted Interest, and (to the extent lawful) interest on such Defaulted Interest at the rate borne by the Notes, may be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not less than 10 days prior to such Special Record Date, or may be paid at any time in any
other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. Interest on this Note
shall be computed on the basis of a 360-day year of twelve 30-day months. 

Payment of the principal of (and premium, if any), or interest on this Note will be made at the office or agency of the Company maintained for
that purpose (which initially will be the office of the Trustee maintained at 101 Barclay Street, 8W, New York, NY 10286), or at such other office or agency of the Company as may be maintained for such purpose, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the address of the Person
entitled thereto as such address shall appear on the Security Register related to this Note. Notwithstanding the foregoing, payment of interest in respect of Notes represented by Global Notes shall be made in accordance with procedures required by
the Depositary. 

  
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 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been duly executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

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

 

							
	Dated: [    ]	 		 	XEROX CORPORATION
				
	Attest:
                                         
                                   	 		 	By:	 	 
	Name:	 		 		 	Name:
	Title:	 		 		 	Title:

  
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 Certificate of Authentication, dated [    ]. 

This is one of the Notes referred to in the within-mentioned Indenture. 

 

			
	 THE BANK OF NEW YORK MELLON,

            as Trustee

		
	By:	 	 

 (REVERSE OF NOTE) 

1. Indenture. This Note is one of a duly authorized issue of securities of the Company designated as its [●]% Senior Notes due
2022 (herein called the “Notes”), issued under an indenture (herein called the “Indenture”) dated as of December 4, 2009, between the Company and The Bank of New York Mellon, as trustee (herein called the
“Trustee,” which term includes any successor trustee under the Indenture) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties,
obligations and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and of the terms upon which the Notes are, and are to be, authenticated and delivered. 

Capitalized terms used herein but not otherwise defined herein shall have the meaning assigned to such terms in the Indenture. 

The terms of the Notes include those stated in the Indenture (except as superseded by the terms set forth in the Notes) and those made part of
the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) (the “TIA”), as in effect on the date of the Indenture. Notwithstanding anything to the
contrary herein, the Notes are subject to all such terms, and Holders of Notes are referred to the Indenture and the TIA for a statement of such terms. 

No reference herein to the Indenture and no provisions of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Note at the times, place, and rate, and in the coin or currency, herein prescribed. 

All references to interest payable on the Notes shall include Special Interest, if any. 

“Registration Rights Agreement” means the Registration Rights Agreement dated March 17, 2017, among the Company and
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. 
 “Special Interest”
has the meaning given to such term in the Registration Rights Agreement. 
 2. Optional Redemption. Except as set forth in this
paragraph and in paragraph 3, the Notes are not redeemable. 
 (a) The Company may, at any time and from time to time, at its option, redeem
the Outstanding Notes (in whole or in part) at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest, if any, on the Notes to the applicable redemption date, plus the Make-Whole Premium. The Company shall
give not less than 30 nor more than 60 days’ notice of such redemption. 

“Make-Whole Premium” with respect to a Note means an amount equal to the excess of
(a) the present value of the remaining interest, premium and principal payments due on such Note to its final maturity date, computed using a discount rate equal to the Treasury Rate on such date plus 0.35%, over (b) the outstanding
principal amount of such Note. For the avoidance of doubt, the Make-Whole Premium shall not be less than zero. 

 “Treasury Rate,” for any date, means the yield to maturity at the time of
computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become publicly available at least two business days prior to the date the
redemption is effected pursuant to a Specified Redemption (the “Specified Redemption Date”) (or, if such Statistical Release is no longer published, any publicly available source of similar market data) most nearly equal to the
period from the Specified Redemption Date to March 17, 2022; provided, however, that if the period from the Specified Redemption Date to March 17, 2022 is not equal to the constant maturity of a United States Treasury
security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States
Treasury securities for which such yields are given, except that if the period from the Specified Redemption Date to March 17, 2022 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to
a constant maturity of one year shall be used. 
 (b) In the case of any redemption of Notes, interest installments whose Stated Maturity is
on or prior to the Redemption Date will be payable to the Holders of such Notes, or one or more Predecessor Securities, of record at the close of business on the relevant Regular Record Date referred to on the face hereof. Notes (or portions
thereof) for whose redemption and payment provision is made in accordance with the Indenture shall cease to bear interest from and after the Redemption Date. 

(c) In the event of redemption of this Note in part only, a new Note or Notes for the unredeemed portion hereof shall be issued in the name of
the Holder hereof upon the cancellation hereof. 
 (d) In the event that less than all of the Notes are redeemed, selection of the Notes for
redemption will be made by the Trustee either: 
 (1) in compliance with the requirements of the principal national
securities exchange, if any, on which the Notes are listed; or, 
 (2) if the Notes are not so listed, on a pro rata
basis, with adjustments so that only Notes in a minimum of $2,000 aggregate principal amount and integral multiples of $1,000 in excess thereof will be selected. 

The Trustee shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Notes selected for
partial redemption, the principal amount thereof to be redeemed. 
 (e) The election of the Company to redeem any Notes shall be evidenced
by an Officers’ Certificate. In case of any redemption at the election of the Company, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee),
notify the Trustee of such Redemption Date, the Notes and of the principal amount of such Notes to be redeemed and shall deliver to the Trustee such documentation and records as shall enable the Trustee to select the Notes to be redeemed. 

  
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 (f) For all purposes of the Indenture, unless the context otherwise requires, all provisions
relating to redemption of Notes shall relate, in the case of any Note redeemed or to be redeemed only in part, to the portion of the principal amount of such Note which has been or is to be redeemed. 

(g) Notice of redemption shall be given in the manner provided for in Section 107 of the Indenture not less than 30 nor more than
60 days prior to the Redemption Date, to each Holder of Notes to be redeemed. 
 All notices of redemption shall state: 

(1) the Redemption Date, 

(2) the Redemption Price, 

(3) the CUSIP, ISIN or similar number, 

(4) the name and address of the Paying Agent, 

(5) if less than all Outstanding Notes are to be redeemed, the identification (and, in the case of a partial redemption, the
respective principal amounts) of the particular Notes to be redeemed, 
 (6) if any Note is to be redeemed in part only, the
portion of the principal amount thereof to be redeemed, 
 (7) that on the Redemption Date, the Redemption Price (together
with accrued interest to the Redemption Date payable as provided in Section 1106 of the Indenture) will become due and payable upon each such Note, or the portion thereof, to be redeemed, and that interest thereon will cease to accrue on and
after said date, and 
 (8) the place or places where such Notes are to be surrendered for payment of the Redemption Price.

 Notice of redemption of Notes to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company. 
 3. Offers to Purchase. Upon the occurrence of a Change of
Control Repurchase Event, each Holder will have the right to require that the Company purchase all or a portion (equal to $2,000 and integral multiples of $1,000 in excess thereof) of such Holder’s Notes pursuant to the offer described below
(the “Change of Control Offer”), at a purchase price equal to 101% of the principal amount of the Notes repurchased plus accrued and unpaid interest to, but not including, the date of purchase. 

(a) Within 30 days following the date upon which the Change of Control Repurchase Event occurred, or at the Company’s option, prior
to any Change of Control, but after the public announcement of the Change of Control, the Company shall send, or cause the Trustee to send, by first class mail, a notice to each Holder, with a copy to the Trustee stating: 

(1) that a Change of Control Repurchase Event has occurred and that such Holder has the right to require the Company to
purchase such Holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest to the date of purchase; 

  
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 (2) the repurchase date (which shall be no earlier than 30 days nor later than
60 days from the date such notice is mailed, other than as required by law) (the “Change of Control Payment Date”); 

(3) the procedures determined by the Company, consistent with the Indenture, that a Holder must follow in order to have its
Notes purchased; 
 (4) that the Change of Control Offer is being made pursuant to the terms of this Note and that all Notes
properly tendered into the Change of Control Offer and not withdrawn will be accepted for payment; and that the Change of Control Offer shall remain open for a period of 20 Business Days or such longer period as may be required by applicable
law; 
 (5) the purchase price (including the amount of accrued interest, if any) for each Note and the date on which the
Change of Control Offer expires; 
 (6) that any Note not tendered for payment will continue to accrue interest in accordance
with the terms hereof; 
 (7) that, unless the Company shall default in the payment of the purchase price, any Note accepted
for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Payment Date; 

(8) that Holders electing to have Notes purchased pursuant to a Change of Control Offer will be required to surrender their
Notes to the Paying Agent at the address specified in the notice prior to 5:00 p.m., New York City time, on the third Business Day prior to the Change of Control Payment Date and must complete the form entitled “Option of Holder to
Elect Purchase” on the reverse of the Note; 
 (9) that Holders of Notes will be entitled to withdraw their election if
the Paying Agent receives, not later than 5:00 p.m., New York City time, on the third Business Day prior to the Change of Control Payment Date, a facsimile transmission or letter setting forth the name of the Holders, the principal amount
of Notes the Holders delivered for purchase, the Note certificate number (if any) and a statement that such Holder is withdrawing his election to have such Notes purchased; 

(10) that Holders whose Notes are purchased only in part will be issued Notes of like tenor equal in principal amount to the
unpurchased portion of the Notes surrendered; provided, however, that each Note purchased and each new Note issued shall be in denominations of $2,000 or integral multiples of $1,000 in excess thereof; and 

(11) a description of the circumstances and relevant facts regarding such Change of Control. 

(b) On the Change of Control Payment Date, the Company shall (i) accept for payment Notes in denominations of $2,000 or portions thereof
in integral multiples of $1,000 in excess thereof validly tendered and not withdrawn pursuant to the Change of Control Offer, (ii) deposit 

  
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with the Paying Agent money, in immediately available funds, sufficient to pay the purchase price of all Notes or portions thereof validly tendered and accepted and (iii) deliver to the
Trustee the Notes so accepted together with an Officers’ Certificate setting forth the Notes or portions thereof tendered to and accepted for payment by the Company. The Paying Agent shall promptly mail or deliver to the Holders of Notes so
accepted payment in an amount equal to the purchase price, and the Trustee shall promptly authenticate and mail or cause to be transferred by book-entry to such Holders a new Note of like tenor equal in
principal amount to any unpurchased portion of the Note surrendered. Any Notes not so accepted shall be promptly mailed or delivered by the Company to the Holder thereof. Upon the payment of the purchase price for the Notes accepted for purchase,
the Trustee shall cancel the Notes purchased by the Company. Any monies remaining after the purchase of all Notes validly tendered pursuant to a Change of Control Offer shall be returned within three (3) Business Days by the Paying Agent to the
Company. The Company shall publicly announce the results of the Change of Control Offer as soon as practicable following the Change of Control Payment Date. 

(c) The Company is not required to make a Change of Control Offer upon a Change of Control Repurchase Event if a third party makes the Change
of Control Offer in the manner, at the times and otherwise in compliance with the requirements of this Note applicable to a Change of Control Offer made by the Company and purchases all Notes validly tendered and not withdrawn under such Change of
Control Offer. 
 (d) The Company will comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of Notes pursuant to a Change of Control Offer. To the extent that the provisions of any
securities laws or regulations conflict with the terms of this Note the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Note by virtue thereof. 

(e) Definitions. 

(1) “Below Investment Grade Ratings Event” means that on any day within the 60-day period (which period shall
be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (1) the occurrence of a Change of Control; or (2) public notice of the
occurrence of a Change of Control or the intention by the Company to effect a Change of Control, the Notes are rated below Investment Grade by each of the Rating Agencies. Notwithstanding the foregoing, a Below Investment Grade Ratings Event
otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Ratings Event for purposes of the definition of
Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the trustee in writing at its request that the reduction
was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the
ratings event). 

  
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 (2) “Change of Control” means the occurrence of one or more of
the following events: 
 (a) any “person,” including its affiliates and associates, other than the Company, its
Subsidiaries or the Company’s or such Subsidiaries’ employee benefit plans, or any “group” files a Schedule 13D or Schedule TO (or any successor schedule, form or report under the Exchange Act) disclosing that such
person or group has become the “beneficial owner” of 50% or more of the combined voting power of the Company’s Capital Stock or other Capital Stock into which the Company’s Common Stock is reclassified or changed, with certain
exceptions having ordinary power to elect directors, or has the power to, directly or indirectly, elect managers, trustees or a majority of the members of the Company’s Board of Directors; 

(b) there shall be consummated any share exchange, consolidation or merger of the Company pursuant to which the Company’s
Common Stock would be converted into cash, securities or other property, or the Company sells, assigns, conveys, transfers, leases or otherwise disposes of all or substantially all of its assets, in each case other than pursuant to a share exchange,
consolidation or merger of the Company in which the holders of the Company’s Common Stock immediately prior to the share exchange, consolidation or merger have, directly or indirectly, at least a majority of the total voting power in the
aggregate of all classes of Capital Stock of the continuing or surviving corporation immediately after the share exchange, consolidation or merger; 

(c) the Company is dissolved or liquidated; or 

(d) the first day on which a majority of the Company’s Board of Directors are not Continuing Directors. 

For purposes of this Change of Control definition: 

“person” or “group” has the meaning given to it for purposes of Sections 13(d) and 14(d) of the
Exchange Act or any successor provisions, and the term “group” includes any group acting for the purpose of acquiring, holding or disposing of securities within the meaning of Rule 13d-5(b)(1)
under the Exchange Act or any successor provision; 
 a “beneficial owner” will be determined in accordance with Rule 13d-3 under the Exchange Act, as in effect on the date of the Indenture; and 

the number of shares of the Company’s Voting Stock outstanding will be deemed to include, in addition to all outstanding
shares of the Company’s Voting Stock and unissued shares deemed to be held by the “person” or “group” or other person with respect to which the Change of Control determination is being made, all unissued shares deemed to be
held by all other persons. 

  
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 (3) “Change of Control Repurchase Event” means the occurrence of
both a Change of Control and a Below Investment Grade Ratings Event. 
 (4) “Continuing Directors” means, as
of any date of determination, any member of the Company’s Board of Directors who (1) was a member of such Board of Directors on the date of the issuance of the notes; or (2) was nominated for election or elected to such Board of
Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director). 

(5) “Fitch” means Fitch Ratings Ltd. 

(6) “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor
rating categories of Moody’s); a rating of BBB- or better by S&P or Fitch (or its equivalent under any successor rating categories of S&P and Fitch); and the equivalent investment grade credit rating from any additional rating agency or
rating agencies selected by us. 
 (7) “Moody’s” means Moody’s Investors Service Inc. 

(8) “Rating Agency” means (1) each of Moody’s, S&P and Fitch; and (2) if any of
Moody’s, S&P or Fitch ceases to rate the notes or fails to make a rating of the Notes publicly available for reasons outside of our control, a “nationally recognized statistical rating organization” within the meaning of Rule
15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by us (as certified by a resolution of our board of directors) as a replacement agency for Moody’s, S&P or Fitch, or all of them, as the case may be. 

(9) “S&P” means Standard & Poor’s Ratings Services, a division of McGraw-Hill, Inc. 

(10) “Voting Stock” of any specified “person” (as that term is used in Section 13(d)(3) of the
Exchange Act) as of any date means the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

4. Defaults and Remedies. If an Event of Default occurs and is continuing, the principal of and premium, if any, on all of the
Outstanding Notes of this series, plus all accrued and unpaid interest, if any, to and including the date the Notes are paid, may be declared due and payable in the manner and with the effect provided in the Indenture. 

5. Defeasance. The Indenture contains provisions for defeasance at any time of (a) the entire Indebtedness of the Company on this
Note and (b) certain restrictive covenants and the related Defaults and Events of Default, upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 

6. Amendment and Waivers. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time Outstanding. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Notes at the time Outstanding, on behalf of the Holders of all 

  
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the Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past Defaults or Events of Default under the Indenture and their consequences. Any such consent
or waiver by or on behalf of the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof
whether or not notation of such consent or waiver is made upon this Note. 
 In addition to items (1) through (6) of
Section 902 of the Indenture, no such indenture or waiver (including a waiver pursuant to Section 513 of the Indenture) shall, without the consent of the Holder of each Outstanding Note affected thereby: 

(7) after the Company’s obligation to purchase Notes arises hereunder, amend, change or modify in any material respect the
obligation of the Company to make and consummate a Change of Control Offer in the event of a Change of Control Repurchase Event or, after such Change of Control Repurchase Event has occurred, modify any of the provisions or definitions with respect
thereto; provided, that for purposes of this clause (7), a Change of Control Repurchase Event shall not be deemed to have occurred upon the entering into or execution of any agreement or instrument notwithstanding that the consummation of the
transactions contemplated by such agreement or instrument would result in a Change of Control Repurchase Event as defined herein if such agreement or instrument expressly provides that it shall be a condition to closing thereunder that the Holders
of the Notes shall have waived the Change of Control Repurchase Event on or prior to such closing unless and until such conditions is waived by the parties to such agreement or instrument or the Change of Control Repurchase Event has actually
occurred. 
 7. Denominations, Transfers and Exchanges. The Notes are issuable only in registered form without coupons in minimum
denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Note is registerable on the applicable Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company, maintained for such
purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more
new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

No service charge shall be made for any registration of transfer or exchange of Notes, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith. 
 8. Persons Deemed Owners. Prior to and at the time
of due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this
Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
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 9. Unclaimed Money. If money deposited with the Trustee or any applicable agent for the
payment of principal of, premium, if any, or interest on, the Notes remains unclaimed for two years, the Trustee and such paying agent shall return the money to the Company. After that, Holders entitled to the money must look to the Company for
payment unless applicable abandoned property law designates another Person and all liability of the Trustee and such paying agent shall cease. Other than as set forth in this paragraph, the Notes and the Indenture, respectively, do not provide for
any periods for the escheatment of the payment of principal of, premium, if any, or interest on the Notes. 
 10. GOVERNING
LAW. THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 The Company will furnish
to any Holder of a Note upon written request and without charge a copy of the Indenture. Requests may be made to: Xerox Corporation, 45 Glover Avenue, Norwalk, Connecticut 06856, Attention: Chief Financial Officer. 

  
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 ASSIGNMENT FORM 

If you, the Holder, want to assign this Note, fill in the form below and have your signature guaranteed: 

I or we assign and transfer this Note to 

			
		
	 	  	 
		
	(Insert assignee’s social security or tax ID number)	  	 
		
	 	  	 
		
	 	  	 
		
	 	  	 
	
	(Print or type assignee’s name, address and zip code) and irrevocably appoint
		
	 	  	 

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

  
 10 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you wish to have this Note purchased by the Company pursuant to the Change of Control Offer, check the box:  ☐ 

If you wish to have a portion of this Note purchased by the Company pursuant to the Change of Control Offer, state the amount: 

 

									
	$                        	 		 		 	
				
	Date:                        	 		 	Your signature:	 	 
		 		 		 	(Sign exactly as your name appears on the other side of this Note)
					
		 		 		 	By:	 	 
		 		 		 		 	NOTICE: To be executed by an executive officer
		 		 		 		 	

  

			
	Signature Guarantee:	 	 
		 	

  
 11EX-4.3

 Exhibit 4.3 

Xerox Corporation 

US$300,000,000 4.070% Notes Due 2022 

Exchange and Registration Rights Agreement 

March 17, 2017 
 Citigroup Global Markets Inc.

 Credit Suisse Securities (USA) LLC 
 Goldman,
Sachs & Co. 
 as Dealer Managers 
 c/o Citigroup
Global Markets Inc. 
 388 Greenwich Street 
 New York, New York
10013 
 c/o Credit Suisse Securities (USA) LLC 
 Eleven
Madison Avenue 
 New York, New York 10010 
 c/o Goldman,
Sachs & Co. 
 200 West Street 
 New York, New York
10282 
 Ladies and Gentlemen: 
 Xerox
Corporation, a New York corporation (the “Company”), proposes to issue upon the terms set forth in its Offering Memorandum dated February 28, 2017, and the related Letter of Transmittal $300,000,000 in aggregate principal
amount of its 4.070% Notes due 2022 (the “Securities”), in exchange for certain of the Company’s outstanding notes (the “Exchange”). This Agreement is being executed and delivered by the Company in satisfaction
of its obligations under the Dealer Manager Agreement (as defined herein) and the Company agrees with the Dealer Managers (as defined herein) for the benefit of holders (as defined herein) from time to time of the Registrable Securities (as defined
herein) as follows: 
 1. Certain Definitions. For purposes of this Exchange and Registration Rights Agreement (this
“Agreement”), the following terms shall have the following respective meanings: 
 “Base
Interest” shall mean the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture, without giving effect to the provisions of this Agreement. 

 “broker-dealer” shall mean any broker or dealer registered with the
Commission under the Exchange Act. 
 “Business Day” shall have the meaning set forth in
Rule 13e-4(a)(3) promulgated by the Commission under the Exchange Act, as the same may be amended or succeeded from time to time, and shall also exclude any day on which banking institutions or trust companies located in New York, New York are
authorized or obligated to be closed. 
 “Closing Date” shall mean the date on which the Securities are
initially issued. 
 “Commission” shall mean the United States Securities and Exchange Commission, or any
other federal agency at the time administering the Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose. 

“Dealer Manager Agreement” shall mean the Dealer Manager Agreement, dated February 28, 2017, between the Dealer
Managers and the Company relating to the Securities. 
 “Dealer Managers” shall mean Citigroup Global Markets
Inc., Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. 
 “EDGAR System” shall mean the
EDGAR filing system of the Commission and the rules and regulations pertaining thereto promulgated by the Commission in Regulation S-T under the Securities Act and the Exchange Act, in each case as the
same may be amended or succeeded from time to time (and without regard to format). 
 “Effective Time,” in
the case of (i) an Exchange Registration, shall mean the time and date as of which the Commission declares the Exchange Registration Statement effective or as of which the Exchange Registration Statement otherwise becomes effective pursuant to
the Securities Act and (ii) a Shelf Registration, shall mean the time and date as of which the Commission declares the Shelf Registration Statement effective or as of which the Shelf Registration Statement otherwise becomes effective pursuant
to the Securities Act. 
 “Electing Holder” shall mean any holder of Registrable Securities that has returned
a completed and signed Notice and Questionnaire to the Company in accordance with Section 3(d)(ii) or Section 3(d)(iii) and the instructions set forth in the Notice and Questionnaire. 

“Exchange” shall have the meaning assigned thereto in the preamble hereto. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
by the Commission thereunder, as the same may be amended or succeeded from time to time. 
 “Exchange Offer” shall
have the meaning assigned thereto in Section 2(a). 
 “Exchange Registration” shall have the meaning assigned
thereto in Section 3(c). 

  
 2 

 “Exchange Registration Statement” shall have the meaning assigned thereto
in Section 2(a). 
 “Exchange Securities” shall have the meaning assigned thereto in Section 2(a). 

“holder” shall mean each of the persons who acquire (in the Exchange or otherwise) Securities from time to time
(including any successors or assigns), in each case for so long as such person owns any Securities. 
 “Indenture”
shall mean the indenture, dated as of December 4, 2009, between the Company and the Trustee, as the same may be amended and supplemented from time to time. 

“Notice and Questionnaire” shall mean a Notice of Registration Statement and Selling Securityholder Questionnaire
substantially in the form of Exhibit A hereto. 
 “person” shall mean a corporation, limited liability
company, association, partnership, organization, business, individual, government or political subdivision thereof or governmental agency. 

“Registrable Securities” shall mean the Securities; provided, however; that a Security shall cease to be
a Registrable Security upon the earliest to occur of the following: (i) in the circumstances contemplated by Section 2(a), the Security has been exchanged for an Exchange Security in an Exchange Offer as contemplated in Section 2(a)
(provided that any Exchange Security that, pursuant to the last two sentences of Section 2(a), is included in a prospectus for use in connection with resales by broker-dealers shall be deemed to be a Registrable Security with respect to
Sections 5, 6 and 9 until resale of such Registrable Security has been effected within the Resale Period); (ii) in the circumstances contemplated by Section 2(b), a Shelf Registration Statement registering such Security under the
Securities Act has been declared or becomes effective and such Security has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated by such effective Shelf Registration Statement; (iii) subject to
Section 8(b), such Security is actually sold by the holder thereof pursuant to Rule 144 under circumstances in which any legend borne by such Security relating to restrictions on transferability thereof, under the Securities Act or
otherwise, is removed by the Company or pursuant to the Indenture or (iv) such Security shall cease to be outstanding. 

“Registration Default” shall have the meaning assigned thereto in Section 2(c). 

“Registration Default Period” shall have the meaning assigned thereto in Section 2(c). 

“Registration Expenses” shall have the meaning assigned thereto in Section 4. 

“Resale Period” shall have the meaning assigned thereto in Section 2(a). 

“Restricted Holder” shall mean (i) a holder that is an affiliate of the Company within the meaning of Rule 405,
(ii) a holder who acquires Exchange Securities outside the ordinary course of such holder’s business, (iii) a holder who has arrangements or understandings with any person to participate in the Exchange Offer for the purpose of
distributing Exchange Securities and (iv)

  
 3 

 
a holder that is a broker-dealer, but only with respect to Exchange Securities received by such broker-dealer pursuant to an Exchange Offer in exchange for Registrable Securities acquired by the
broker-dealer directly from the Company. 
 “Rule 144,” “Rule 405;”
“Rule 415,” “Rule 424,” “Rule 430B” and “Rule 433” shall mean, in each case, such rule promulgated by the Commission under the Securities Act (or any successor
provision), as the same may be amended or succeeded from time to time. 
 “Securities” shall have the meaning
assigned thereto in the preamble hereto. 
 “Securities Act” shall mean the Securities Act of 1933, as
amended, and the rules and regulations promulgated by the Commission thereunder, as the same may be amended or succeeded from time to time. 

“Shelf Registration” shall have the meaning assigned thereto in Section 2(b). 

“Shelf Registration Statement” shall have the meaning assigned thereto in Section 2(b). 

“Special Interest” shall have the meaning assigned thereto in Section 2(c). 

“Suspension Period” shall have the meaning assigned thereto in Section 2(b). 

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the rules and regulations
promulgated by the Commission thereunder, as the same may be amended or succeeded from time to time. 

“Trustee” shall mean The Bank of New York Mellon, as trustee under the Indenture, together with any successors thereto
in such capacity. 
 “U.S.” shall mean the United States of America. 

Unless the context otherwise requires, any reference herein to a “Section” or “clause” refers to a Section or clause, as
the case may be, of this Agreement, and the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Section or other subdivision. 

2. Registration Under the Securities Act. 

(a) Except as set forth in Section 2(b) below, to the extent not prohibited by any applicable law or applicable
interpretations of the Commission, the Company agrees to use its commercially reasonable efforts to file no later than 270 days after the Closing Date and cause to become or declared effective under the Securities Act, a registration statement
relating to an offer to exchange (such registration statement, the “Exchange Registration Statement,” and such offer, the “Exchange Offer”) any and all of the Securities for a like aggregate principal amount of debt
securities issued by the Company, which debt securities are substantially identical to the Securities (and are entitled to the benefits of the Indenture), except that they have been registered pursuant to an effective registration statement under
the 

  
 4 

 
Securities Act and do not contain provisions for Special Interest contemplated in Section 2(c) below (such new debt securities hereinafter called “Exchange Securities”). The
Exchange Securities will be issued under the Indenture as provided therein and pursuant thereto shall be evidence of the same continuing indebtedness of the Company and will not constitute the creation of new indebtedness. The Company agrees to use
commercially reasonable efforts to cause the Exchange Registration Statement to become or be declared effective under the Securities Act no later than 365 days after the Closing Date. The Exchange Offer will be registered under the Securities
Act on any available and appropriate form and will comply with all applicable tender offer rules and regulations under the Exchange Act. Unless the Exchange Offer would not be permitted by applicable law or Commission policy, the Company further
agrees to use commercially reasonable efforts to (i) commence the Exchange Offer promptly (but no later than 30 Business Days) following the Effective Time of such Exchange Registration Statement, (ii) hold the Exchange Offer open for
at least 20 Business Days in accordance with Regulation 14E promulgated by the Commission under the Exchange Act (or a longer period if required by the U.S. federal securities laws) and (iii) promptly following the expiration of the
Exchange Offer, exchange Exchange Securities for all Registrable Securities that have been properly tendered and not validly withdrawn prior to the close of business on the date of such expiration. The Exchange Offer will be deemed to have been
“completed” only (i) if the debt securities received by holders other than Restricted Holders in the Exchange Offer for Registrable Securities are, upon receipt, transferable by each such holder without restriction under the
Securities Act and the Exchange Act and without material restrictions under the blue sky or securities laws of a substantial majority of the States of the U.S. and (ii) upon the Company having exchanged, pursuant to the Exchange Offer,
applicable Exchange Securities for all Registrable Securities that have been properly tendered and not withdrawn before the expiration of the Exchange Offer, which shall be on a date that is at least 20 Business Days and not more than 30
Business Days following the commencement of the Exchange Offer. The Company agrees (x) to include in the Exchange Registration Statement a prospectus for use in any resales by any holder of Exchange Securities that is a broker-dealer that has
acquired Registrable Securities from the Company or for its own account as a result of market-making activities or other trading activities, and (y) to use commercially reasonable efforts to keep such Exchange Registration Statement effective
for a period (the “Resale Period”) beginning when Exchange Securities are first issued in the Exchange Offer and ending upon the earlier of the expiration of the 180th day after the Exchange Offer has been completed or such time as
such broker-dealers no longer own any Registrable Securities; provided that the Company may, in its sole discretion, in lieu of, or in addition to, keeping any such Exchange Registration Statement effective during the Resale Period, file a
“shelf” registration statement on any available and appropriate form providing for the registration of such Registrable Securities held by such broker-dealers during the Resale Period. With respect to such Exchange Registration Statement,
such holders shall have the benefit of the rights of indemnification and contribution set forth in Subsections 6(a), (c), (d) and (e). 

(b) If (i) on or prior to the time the Exchange Offer is completed existing law or Commission interpretations are changed
such that the debt securities received by holders other than Restricted Holders in the Exchange Offer for Registrable Securities are not or 

  
 5 

 
would not be, upon receipt, transferable by each such holder without restriction under the Securities Act, (ii) the Exchange Offer is not completed within 395 days following the Closing
Date or (iii) any holder of Registrable Securities notifies the Company prior to the 20th Business Day following the completion of the Exchange Offer that: (A) it is prohibited by law or Commission policy from participating in the
Exchange Offer, (B) it may not resell the Exchange Securities to the public without delivering a prospectus and the prospectus supplement contained in the Exchange Registration Statement is not appropriate or available for such resales,
(C) it is a broker-dealer and owns Securities acquired directly from the Company or an affiliate of the Company or (D) it is an affiliate of the Company, then the Company shall, in lieu of (or, in the case of clause (iii), in addition
to) conducting the Exchange Offer contemplated by Section 2(a), use commercially reasonable efforts to file under the Securities Act no later than 60 days after the time such obligation to file arises (which in the case of
clause (iii) above, shall be the date that the applicable holder so notifies the Company) (but in any case no earlier than 270 days after the Closing Date), a “shelf” registration statement providing for the registration of, and
the sale on a continuous or delayed basis by the holders of, all of the Registrable Securities, pursuant to Rule 415 or any similar rule that may be adopted by the Commission (such filing, the “Shelf Registration” and such
registration statement, the “Shelf Registration Statement”). The Company agrees to use commercially reasonable efforts to cause the Shelf Registration Statement to become or be declared effective no later than 180 days after
such Shelf Registration Statement filing obligation arises; provided, that if at any time the Company is or becomes a “well-known seasoned issuer” (as defined in Rule 405) and is eligible to file an “automatic shelf
registration statement” (as defined in Rule 405), then the Company shall file the Shelf Registration Statement in the form of an automatic shelf registration statement as provided in Rule 405. The Company agrees, if permitted by
Rule 430B under the Securities Act, to otherwise designate an existing effective shelf registration statement for use by the holders of the Registrable Securities as a Shelf Registration Statement relating to the resales of such Registrable
Securities by the holders thereof. The Company agrees to use commercially reasonable efforts to keep such Shelf Registration Statement continuously effective for a period of one year after the Effective Time or such shorter time as there are no
longer any Registrable Securities outstanding. No holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement or to use the prospectus forming a part thereof for resales of Registrable Securities unless such
holder is an Electing Holder. The Company agrees, after the Effective Time of the Shelf Registration Statement and promptly upon the request of any holder of Registrable Securities that is not then an Electing Holder, to use commercially reasonable
efforts to enable such holder to use the prospectus forming a part thereof for resales of Registrable Securities, including, without limitation, any action necessary to identify such holder as a selling securityholder in the Shelf Registration
Statement (whether by post-effective amendment thereto or by filing a prospectus pursuant to Rules 430B and 424(b) under the Securities Act identifying such holder), provided, however, that nothing in this sentence shall relieve
any such holder of the obligation to return a completed and signed Notice and Questionnaire to the Company in accordance with Section 3(d)(iii). Notwithstanding anything to the contrary in this Section 2(b), upon notice to the Electing
Holders, the Company may suspend the use of the Shelf Registration Statement for a reasonable period of time (but not in excess of 180 days in any period of 365 consecutive 

  
 6 

 
days) (a “Suspension Period”) if the board of directors of the Company determines that there is a valid business purpose for suspension of the Shelf Registration Statement;
provided, however, that the Company shall promptly notify the Electing Holders when the Shelf Registration Statement may once again be used or is effective. 

(c) In the event that (i) the Shelf Registration Statement has not become effective or been declared effective by the
Commission on or before the date on which such registration statement is required to become or be declared effective pursuant to Section 2(b), (ii) the Exchange Offer has not been completed within 395 days of the Closing Date, or
(iii) any Shelf Registration Statement required by Section 2(b) is filed and declared effective but shall thereafter either be withdrawn by the Company or shall become subject to an effective stop order issued pursuant to Section 8(d)
of the Securities Act suspending the effectiveness of such registration statement (except as specifically permitted herein, including during any applicable Suspension Period in accordance with the last sentence of Section 2(b)) without being
succeeded immediately by an additional registration statement filed and declared effective (each such event referred to in clauses (i) through (iii), a “Registration Default” and each period during which a Registration Default
has occurred and is continuing, a “Registration Default Period”), then, as liquidated damages for such Registration Default, subject to the provisions of Section 9(b), special interest (“Special Interest”), in
addition to the Base Interest, shall accrue on all Registrable Securities then outstanding at a per annum rate of 0.25% for the first 90 days of the Registration Default Period and at a per annum rate of 0.50% thereafter for the remaining
portion of the Registration Default Period. 
 (d) The Company shall take all commercially reasonable actions necessary or
advisable to be taken by it to ensure that the transactions contemplated herein are effected as so contemplated. 
 (e) Any
reference herein to a registration statement or prospectus as of any time shall be deemed to include any document incorporated, or deemed to be incorporated, therein by reference as of such time; and any reference herein to any post-effective
amendment to a registration statement or to any prospectus supplement as of any time shall be deemed to include any document incorporated, or deemed to be incorporated, therein by reference as of such time. 

3. Registration Procedures. 

If the Company files a registration statement pursuant to Section 2(a) or Section 2(b), the following provisions shall apply: 

(a) At or before the Effective Time of the Exchange Registration or any Shelf Registration, whichever may occur first, the
Company shall qualify the Indenture under the Trust Indenture Act. 
 (b) In the event that such qualification would require
the appointment of a new trustee under the Indenture, the Company shall appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture. 

  
 7 

 (c) In connection with the Company’s obligations with respect to the
registration of Exchange Securities as contemplated by Section 2(a) (the “Exchange Registration”), if applicable, the Company shall: 

(i) use commercially reasonable efforts to prepare and file with the Commission no later than 270 days after the Closing
Date an Exchange Registration Statement on any form which may be utilized by the Company and which shall permit the Exchange Offer and resales of Exchange Securities by broker-dealers during the Resale Period to be effected as contemplated by
Section 2(a), and use commercially reasonable efforts to cause such Exchange Registration Statement to become effective no later than 365 days after the Closing Date; 

(ii) as soon as practicable use commercially reasonable efforts to prepare and file with the Commission such amendments and
supplements to such Exchange Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Exchange Registration Statement for the periods and purposes contemplated in
Section 2(a) and as may be required by the applicable rules and regulations of the Commission and the instructions applicable to the form of such Exchange Registration Statement, and promptly provide each broker-dealer holding Exchange
Securities with such number of copies of the prospectus included therein (as then amended or supplemented), in conformity in all material respects with the requirements of the Securities Act and the Trust Indenture Act, as such broker-dealer
reasonably may request prior to the expiration of the Resale Period, for use in connection with resales of Exchange Securities; 

(iii) use commercially reasonable efforts to promptly notify each broker-dealer that has requested or, to the knowledge of the
Company after reasonable investigation, received copies of the prospectus included in such Exchange Registration Statement, and confirm such advice in writing, (A) when such Exchange Registration Statement or the prospectus included therein or
any prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Exchange Registration Statement or any post-effective amendment, when the same has become effective, (B) of any comments by the
Commission and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request by the Commission for amendments or supplements to such Exchange Registration Statement or prospectus or for additional
information, (C) of the issuance by the Commission of any stop order suspending the effectiveness of such Exchange Registration Statement or the initiation or threatening of any proceedings for that purpose, (D) if at any time the
representations and warranties of the Company contemplated by Section 5 cease to be true and correct in all material respects, (E) of the receipt by the Company of any notification with respect to the suspension of the qualification of the
Exchange Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, (F) the occurrence of any event that causes the 

  
 8 

 
Company to become an “ineligible issuer” as defined in Rule 405, or (G) if at any time during the Resale Period when a prospectus is required to be delivered under the
Securities Act, that such Exchange Registration Statement, prospectus, prospectus amendment or supplement or post-effective amendment does not conform in all material respects to the applicable requirements of the Securities Act and the Trust
Indenture Act or contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

(iv) in the event that the Company would be required, pursuant to Section 3(c)(iii)(G), to notify any broker-dealers
holding Exchange Securities, use commercially reasonable efforts to as promptly as practicable prepare and furnish to each such holder a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to
purchasers of such Exchange Securities during the Resale Period, such prospectus shall conform in all material respects to the applicable requirements of the Securities Act, the Trust Indenture Act and shall not contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

(v) use commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of such Exchange
Registration Statement or any post-effective amendment thereto at the earliest practicable date; 
 (vi) use commercially
reasonable efforts to (A) register or qualify the Exchange Securities under the securities laws or blue sky laws of such jurisdictions as are contemplated by Section 2(a) no later than the commencement of the Exchange Offer, to the extent
required by such laws, (B) keep such registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers, sales and dealings therein in such jurisdictions until the expiration of the Resale Period,
(C) take any and all other actions as may be reasonably necessary or advisable to enable each broker-dealer holding Exchange Securities to consummate the disposition thereof in such jurisdictions and (D) obtain the consent or approval of
each governmental agency or authority, whether federal, state or local, which may be required to effect the Exchange Registration, the Exchange Offer and the offering and sale of Exchange Securities by broker-dealers during the Resale Period;
provided, however, that the Company shall not be required for any such purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it would not otherwise be required to qualify but for the requirements of this
Section 3(c)(vi), (2) consent to general service of process in any such jurisdiction or become subject to taxation in any such jurisdiction or (3) make any changes to its certificate of incorporation or by-laws or other governing
documents or any agreement between it and its stockholders; 
 (vii) obtain a CUSIP number for all Exchange Securities, not
later than the applicable Effective Time; and 

  
 9 

 (viii) comply with all applicable rules and regulations of the Commission, and
make generally available to its securityholders no later than eighteen months after the Effective Time of such Exchange Registration Statement, an “earning statement” of the Company and its subsidiaries complying with Section 11(a) of
the Securities Act (including, at the option of the Company, Rule 158 thereunder). 
 (d) In connection with the
Company’s obligations with respect to the Shelf Registration, if applicable, the Company shall: 
 (i) use commercially
reasonable efforts to prepare and file with the Commission, within the time periods specified in Section 2(b), a Shelf Registration Statement on any form which may be utilized by the Company and which shall register all of the Registrable
Securities for resale by the holders thereof in accordance with such method or methods of disposition as may be specified by the holders of Registrable Securities as, from time to time, may be Electing Holders and use commercially reasonable efforts
to cause such Shelf Registration Statement to become effective within the time periods specified in Section 2(b); 

(ii) use commercially reasonable efforts to mail the Notice and Questionnaire to the holders of Registrable Securities
(A) not less than 30 days prior to the anticipated Effective Time of the Shelf Registration Statement or (B) in the case of an “automatic shelf registration statement” (as defined in Rule 405), mail the Notice and
Questionnaire to the holders of Registrable Securities not later than the Effective Time of such Shelf Registration Statement, and in any such case no holder shall be entitled to be named as a selling securityholder in the Shelf Registration
Statement, and no holder shall be entitled to use the prospectus forming a part thereof for resales of Registrable Securities at any time, unless and until such holder has returned a completed and signed Notice and Questionnaire to the Company; 

(iii) after the Effective Time of the Shelf Registration Statement, upon the request of any holder of Registrable Securities
that is not then an Electing Holder, use commercially reasonable efforts to as promptly as practicable send a Notice and Questionnaire to such holder; provided that the Company shall not be required to take any action to name such holder as a
selling securityholder in the Shelf Registration Statement or to enable such holder to use the prospectus forming a part thereof for resales of Registrable Securities until such holder has returned a completed and signed Notice and Questionnaire to
the Company; 
 (iv) as soon as practicable use commercially reasonable efforts to prepare and file with the Commission such
amendments and supplements to such Shelf Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Shelf Registration Statement for the period specified in Section 2(b) and
as may be required by the applicable rules and regulations of the Commission and the instructions applicable to the form of such Shelf Registration Statement, and use commercially reasonable efforts to furnish to the Electing Holders

  
 10 

 
a commercially reasonable number of copies of any such supplement or amendment substantially concurrently with or prior to its being used or filed with the Commission to the extent such documents
are not publicly available on the Commission’s EDGAR System; 
 (v) comply with the provisions of the Securities Act
with respect to the disposition of all of the Registrable Securities covered by such Shelf Registration Statement in accordance with the intended methods of disposition by the Electing Holders provided for in such Shelf Registration Statement; 

(vi) provide the Electing Holders and not more than one counsel for all the Electing Holders the opportunity to review and
comment on such Shelf Registration Statement, each prospectus included therein or filed with the Commission and each amendment or supplement thereto; 

(vii) for a reasonable period prior to the filing of such Shelf Registration Statement, and throughout the period specified in
Section 2(b), make available at reasonable times at the Company’s principal place of business or such other reasonable place for inspection by the persons referred to in Section 3 (d)(vi) who shall have certified to the Company that
they have a current intention to sell the Registrable Securities pursuant to the Shelf Registration such financial and other information and books and records of the Company, and cause the officers, employees, counsel and independent certified
public accountants of the Company to respond to such inquiries, as shall be reasonably necessary (and in the case of counsel, not violate an attorney-client privilege, in such counsel’s reasonable belief), in the judgment of the counsel
referred to in Section 3(d)(vi), to conduct a reasonable investigation within the meaning of Section 11 of the Securities Act; provided, however, that the foregoing inspection and information gathering on behalf of the
Electing Holders shall be conducted by one counsel designated by the holders of at least a majority in aggregate principal amount of the Registrable Securities held by the Electing Holders at the time outstanding and provided, further,
that each such party shall be required to agree in a writing reasonably acceptable to such party to maintain in confidence and not to disclose to any other person any information or records reasonably designated by the Company as being confidential,
until such time as (A) such information becomes a matter of public record (whether by virtue of its inclusion in such Shelf Registration Statement or otherwise), (B) such person shall be required to disclose such information pursuant to a
subpoena or order of any court or other governmental agency or body having jurisdiction over the matter (subject to the requirements of such order, and only after such person shall have given the Company prompt prior written notice of such
requirement), or (C) such information is required to be set forth in such Shelf Registration Statement or the prospectus included therein or in an amendment to such Shelf Registration Statement or an amendment or supplement to such prospectus
in order that such Shelf Registration Statement, prospectus, amendment or supplement, as the case may be, complies with applicable requirements of the federal securities laws and the rules and regulations of the Commission and does not contain an
untrue statement of 

  
 11 

 
a material fact or omit to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

(viii) as promptly as practicable notify each of the Electing Holders and confirm such advice in writing, (A) when such
Shelf Registration Statement or the prospectus included therein or any prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Shelf Registration Statement or any post-effective amendment, when the
same has become effective, (B) of any comments by the Commission and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request by the Commission for amendments or supplements to such Shelf
Registration Statement or prospectus or for additional information, (C) of the issuance by the Commission of any stop order suspending the effectiveness of such Shelf Registration Statement or the initiation or threatening of any proceedings
for that purpose, (D) if at any time the representations and warranties of the Company set forth in Section 5 cease to be true and correct in all material respects, (E) of the receipt by the Company of any notification with respect to
the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, (F) the occurrence of any event that causes the Company to become an
“ineligible issuer” as defined in Rule 405, or (G) if at any time when a prospectus is required to be delivered under the Securities Act, that such Shelf Registration Statement, prospectus, prospectus amendment or supplement or
post-effective amendment does not conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act or contains an untrue statement of a material fact or omits to state any material fact required to be
stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

(ix) use commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of such Shelf
Registration Statement or any post-effective amendment thereto at the earliest practicable date; 
 (x) if requested by any
Electing Holder, as promptly as practicable incorporate in a prospectus supplement or post-effective amendment such information as is required by the applicable rules and regulations of the Commission and as such Electing Holder specifies should be
included therein relating to the terms of the sale of such Registrable Securities, including information with respect to the principal amount of Registrable Securities being sold by such Electing Holder, the name and description of such Electing
Holder, the offering price of such Registrable Securities and any discount, commission or other compensation payable in respect thereof and with respect to any other terms of the offering of the Registrable Securities to be sold by such Electing
Holder; and make all required filings of such prospectus supplement or post-effective amendment as promptly as practicable after notification of the matters to be incorporated in such prospectus supplement or post-effective amendment; 

  
 12 

 (xi) furnish to each Electing Holder and the counsel referred to in
Section 3(d)(vi) an executed copy (or a conformed copy) of such Shelf Registration Statement, each such amendment and supplement thereto (in each case including all exhibits thereto (in the case of an Electing Holder of Registrable Securities,
upon request) and documents incorporated by reference therein) and such number of copies of such Shelf Registration Statement (excluding exhibits thereto and documents incorporated by reference therein unless specifically so requested by such
Electing Holder) and of the prospectus included in such Shelf Registration Statement (including each preliminary prospectus and any summary prospectus), in conformity in all material respects with the applicable requirements of the Securities Act
and the Trust Indenture Act to the extent such documents are not available through the Commission’s EDGAR System, and such other documents, as such Electing Holder may reasonably request in order to facilitate the offering and disposition of
the Registrable Securities owned by such Electing Holder and to permit such Electing Holder to satisfy the prospectus delivery requirements of the Securities Act; and subject to Section 3(e), the Company hereby consents to the use of such
prospectus (including such preliminary and summary prospectus) and any amendment or supplement thereto by each such Electing Holder (subject to any applicable Suspension Period), in each case in the form most recently provided to such person by the
Company, in connection with the offering and sale of the Registrable Securities covered by the prospectus (including such preliminary and summary prospectus) or any supplement or amendment thereto; 

(xii) use commercially reasonable efforts to (A) register or qualify the Registrable Securities to be included in such
Shelf Registration Statement under such securities laws or blue sky laws of such jurisdictions as any Electing Holder shall reasonably request, (B) keep such registrations or qualifications in effect and comply with such laws so as to permit
the continuance of offers, sales and dealings therein in such jurisdictions during the period the Shelf Registration Statement is required to remain effective under Section 2(b) and for so long as may be necessary to enable any such Electing
Holder to complete its distribution of Registrable Securities pursuant to such Shelf Registration Statement, (C) take any and all other actions as may be reasonably necessary or advisable to enable each such Electing Holder to consummate the
disposition in such jurisdictions of such Registrable Securities and (D) obtain the consent or approval of each governmental agency or authority, whether federal, state or local, which may be required to effect the Shelf Registration or the
offering or sale in connection therewith or to enable the selling holder or holders to offer, or to consummate the disposition of, their Registrable Securities; provided, however, that the Company shall not be required for any such
purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it would not otherwise be required to qualify but for the requirements of this Section 3(d)(xii), (2) consent to general service of process in any such
jurisdiction or become subject to taxation in any such jurisdiction or (3) make any changes to its certificate of incorporation or by-laws or other governing documents or any agreement between it and its stockholders; 

  
 13 

 (xiii) unless any Registrable Securities shall be in book-entry only form,
cooperate with the Electing Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold, which certificates, if so required by any securities exchange upon which any Registrable Securities
are listed, shall be printed, penned, lithographed, engraved or otherwise produced by any combination of such methods, on steel engraved borders, and which certificates shall not bear any restrictive legends; 

(xiv) obtain a CUSIP number for all Securities that have been registered under the Securities Act to be included in such Shelf
Registration Statement, not later than the applicable Effective Time; 
 (xv) use commercially reasonable efforts to notify
in writing each holder of Registrable Securities of any proposal by the Company to amend or waive any provision of this Agreement pursuant to Section 9(h) and of any amendment or waiver effected pursuant thereto, each of which notices shall
contain the text of the amendment or waiver proposed or effected, as the case may be; and 
 (xvi) comply with all applicable
rules and regulations of the Commission. 
 (e) In the event that the Company would be required, pursuant to
Section 3(d)(viii)(G), to notify the Electing Holders, the Company shall as promptly as practicable prepare and furnish to each of the Electing Holders a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter
delivered to purchasers of Registrable Securities, such prospectus shall conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act and shall not contain an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. Each Electing Holder agrees that upon receipt of any notice from the Company
pursuant to Section 3(d)(viii)(G), such Electing Holder shall forthwith discontinue the disposition of Registrable Securities pursuant to the Shelf Registration Statement applicable to such Registrable Securities until such Electing Holder
shall have received copies of such amended or supplemented prospectus, and if so directed by the Company, such Electing Holder shall deliver to the Company (at the Company’s expense) all copies, other than permanent file copies, of the
prospectus covering such Registrable Securities in such Electing Holder’s possession at the time of receipt of such notice. 

(f) In the event of a Shelf Registration, in addition to the information required to be provided by each Electing Holder in its
Notice and Questionnaire, the Company may require such Electing Holder to furnish to the Company such additional information regarding such Electing Holder and such Electing Holder’s intended method of distribution of Registrable Securities as
may be required in order to comply with the Securities Act. Each such Electing Holder agrees to notify the Company as promptly as practicable of any inaccuracy or change in information previously furnished by such Electing Holder to the Company or
of the occurrence of any event in either case as a result of which any prospectus relating to such Shelf Registration contains or would contain an untrue statement of a material 

  
 14 

 
fact regarding such Electing Holder or such Electing Holder’s intended method of disposition of such Registrable Securities or omits to state any material fact regarding such Electing Holder
or such Electing Holder’s intended method of disposition of such Registrable Securities required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly to
furnish to the Company any additional information required to correct and update any previously furnished information or required so that such prospectus shall not contain, with respect to such Electing Holder or the disposition of such Registrable
Securities, an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. 

(g) Until the expiration of the earlier of one year after the Closing Date and the date on which all Securities have ceased to
be Registrable Securities, the Company will not, and will not permit any of its “affiliates” (as defined in Rule 144) to, resell any of the Securities that have been reacquired by any of them except pursuant to an effective
registration statement, or a valid exemption from the registration requirements, under the Securities Act. 
 (h) As a
condition to its participation in the Exchange Offer, each holder of Registrable Securities shall furnish, upon the request of the Company, a written representation to the Company (which may be contained in the letter of transmittal or
“agent’s message” transmitted via The Depository Trust Company’s Automated Tender Offer Procedures, in either case contemplated by the Exchange Registration Statement) to the effect that (A) it is not an
“affiliate” of the Company, as defined in Rule 405 of the Securities Act, or if it is such an “affiliate,” it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable,
(B) it is not engaged in and does not intend to engage in, and has no arrangement or understanding with any person to participate in, a distribution of the Exchange Securities to be issued in the Exchange Offer, (C) it is acquiring the
Exchange Securities in its ordinary course of business, (D) if it is a broker-dealer that holds Securities that were acquired for its own account as a result of market-making activities or other trading activities (other than Securities
acquired directly from the Company or any of its affiliates), it will deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by it in the Exchange Offer, (E) if it
is a broker-dealer, that it did not purchase the Securities to be exchanged in the Exchange Offer from the Company or any of its affiliates, and (F) it is not acting on behalf of any person who could not truthfully and completely make the
representations contained in the foregoing subclauses (A) through (E). 
 4. Registration Expenses. 

The Company agrees to bear and to pay or cause to be paid promptly all expenses incident to the Company’s performance of or compliance
with this Agreement, including (a) all Commission and any FINRA registration, filing and review fees and expenses including reasonable fees and disbursements of counsel for the Eligible Holders in connection with such registration, filing and
review, (b) all fees and expenses in connection with the qualification of the Registrable Securities and the Exchange Securities, as applicable, for offering and sale under the 

  
 15 

 
State securities and blue sky laws referred to in Section 3(d)(xii) and determination of their eligibility for investment under the laws of such jurisdictions as the Electing Holders may
designate, including any reasonable fees and disbursements of counsel for the Electing Holders in connection with such qualification and determination, (c) all expenses relating to the preparation, printing, production, distribution and
reproduction of each registration statement required to be filed hereunder, each prospectus included therein or prepared for distribution pursuant hereto, each amendment or supplement to the foregoing, the expenses of preparing the Securities or
Exchange Securities, as applicable, for delivery and the expenses of printing or producing any selling agreements and blue sky or legal investment memoranda and all other documents in connection with the offering, sale or delivery of Securities or
Exchange Securities, as applicable, to be disposed of (including certificates representing the Securities or Exchange Securities, as applicable), (d) messenger, telephone and delivery expenses relating to the offering, sale or delivery of
Securities or Exchange Securities, as applicable, and the preparation of documents referred in clause (c) above, (e) fees and expenses of the Trustee under the Indenture, any agent of the Trustee and any counsel for the Trustee and of any
custodian, (f) internal expenses (including all salaries and expenses of the Company’s officers and employees performing legal or accounting duties), (g) reasonable fees, disbursements and expenses of counsel and independent certified
public accountants of the Company, (h) reasonable fees, disbursements and expenses of one counsel for the Electing Holders retained in connection with a Shelf Registration, as selected by the Electing Holders of at least a majority in aggregate
principal amount of the Registrable Securities held by Electing Holders (which counsel shall be reasonably satisfactory to the Company), (i) any fees charged by securities rating services for rating the Registrable Securities or the Exchange
Securities, as applicable, and (j) fees, expenses and disbursements of any other persons, including special experts, retained by the Company in connection with such registration (collectively, the “Registration Expenses”). To
the extent that any Registration Expenses are incurred, assumed or paid by any holder of Registrable Securities, Securities or Exchange Securities, as applicable, the Company shall reimburse such person for the full amount of the Registration
Expenses so incurred, assumed or paid promptly after receipt of a request therefor. Notwithstanding the foregoing, the holders of the Registrable Securities being registered shall pay all agency fees and commissions and underwriting discounts and
commissions, if any, and transfer taxes, if any, attributable to the sale of such Registrable Securities and Exchange Securities, as applicable, and the fees and disbursements of any counsel or other advisors or experts retained by such holders
(severally or jointly), other than the counsel and experts specifically referred to above. 
 5. Representations and Warranties. 

The Company represents and warrants to, and agrees with, each Dealer Manager and each of the holders from time to time of Registrable
Securities that: 
 (a) Each registration statement covering Registrable Securities, Securities or Exchange Securities, as
applicable, and each prospectus (including any preliminary or summary prospectus) contained therein or furnished pursuant to Section 3(c) or Section 3(d) and any further amendments or supplements to any such registration statement or
prospectus, when it becomes effective or is filed with the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act, the Trust Indenture 

  
 16 

 
Act and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and at
all times subsequent to the Effective Time when a prospectus would be required to be delivered under the Securities Act, other than (A) from (i) such time as a notice has been given to holders of Registrable Securities pursuant to
Section 3(c)(iii)(G) or Section 3(d)(viii)(G) until (ii) such time as the Company furnishes an amended or supplemented prospectus pursuant to Section 3(c)(iv) or Section 3(e) or (B) during any applicable Suspension
Period, each such registration statement, and each prospectus (including any summary prospectus) contained therein or furnished pursuant to Section 3(c) or Section 3(d), as then amended or supplemented, will conform in all material
respects to the requirements of the Securities Act and the Trust Indenture Act and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances then existing; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in
writing to the Company by a holder of Registrable Securities expressly for use therein. 
 (b) Any documents incorporated by
reference in any prospectus referred to in Section 5(a), when they become or became effective or are or were filed with the Commission, as the case may be, (i) will conform or conformed, as the case may be, in all material respects to the
requirements of the Securities Act or the Exchange Act, as applicable, and (ii) will not or did not, as the case may be, contain an untrue statement of a material fact and will not or did not, as the case may be, omit to state a material fact
required to be stated therein or necessary to make the statements therein not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity
with information furnished in writing to the Company by a holder of Registrable Securities expressly for use therein. 
 (c)
The compliance by the Company with all of the provisions of this Agreement and the consummation of the transactions herein contemplated 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, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which
any of the property or assets of the Company or any of its subsidiaries is subject other than any such conflict, breach or violation that would not reasonably be expected to have a Material Adverse Effect (as defined in the Dealer Manager
Agreement), (ii) result in any violation of the provisions of the certificate of incorporation, as amended, or the by-laws or other governing documents, as applicable, of the Company or (iii) result in any violation of any statute or any
order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their respective properties other than any such conflict, breach or violation that would not reasonably
be expected to have a Material Adverse Effect; and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or body is required for the consummation by the Company of the transactions
contemplated by this Agreement, except (x) the registration under the Secu-

  
 17 

 
rities Act of the Registrable Securities and the Exchange Securities, as applicable, and qualification of the Indenture under the Trust Indenture Act, (y) such consents, approvals,
authorizations, registrations or qualifications as may be required under state securities or blue sky laws in connection with the offering and distribution of the Registrable Securities and the Exchange Securities, as applicable, and (z) such
consents, approvals, authorizations, registrations or qualifications that have been obtained and are in full force and effect as of the date hereof. 

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

6. Indemnification and Contribution. 

(a) Indemnification by the Company. The Company will indemnify and hold harmless each of the holders of Registrable Securities
included in an Exchange Registration Statement and each of the Electing Holders as holders of Registrable Securities included in a Shelf Registration Statement against any losses, claims, damages or liabilities, joint or several, to which such
holder or such Electing Holder may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue
statement of a material fact contained in any Exchange Registration Statement or any Shelf Registration Statement, as the case may be, under which such Registrable Securities or Exchange Securities were registered under the Securities Act, or any
preliminary, final or summary prospectus (including, without limitation, any “issuer free writing prospectus” as defined in Rule 433) contained therein or furnished by the Company to any such holder or any such Electing Holder, or any
amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each
such holder and each such Electing Holder for any and all legal or other expenses reasonably incurred by them in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that
the Company shall not be liable to any such person in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in
such registration statement, or preliminary, final or summary prospectus (including, without limitation, any “issuer free writing prospectus” as defined in Rule 433), or amendment or supplement thereto, in reliance upon and in
conformity with written information furnished to the Company by such person expressly for use therein. 
 (b)
Indemnification by the Electing Holders. The Company may require, as a condition to including any Registrable Securities in any Shelf Registration Statement filed pursuant to Section 2(b), that the Company shall have received an
undertaking reasonably satisfactory to it from each Electing Holder of Registrable Securities included in such Shelf Registration Statement, severally and not jointly, to (i) indemnify and hold harmless the Company and all other Electing
Holders of Registrable Securities included in such Shelf Registration Statement, against any losses, claims, damages or liabilities to which the Company or such other Electing Holders may become subject, under the Securities Act or
other-

  
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wise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact
contained in such registration statement, or any preliminary, final or summary prospectus (including, without limitation, any “issuer free writing prospectus” as defined in Rule 433) contained therein or furnished by the Company to
any Electing Holder, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by
such Electing Holder expressly for use therein, and (ii) reimburse the Company for any legal or other expenses reasonably incurred by the Company in connection with investigating or defending any such action or claim as such expenses are
incurred; provided, however, that no such Electing Holder shall be required to undertake liability to any person under this Section 6(b) for any amounts in excess of the dollar amount of the proceeds to be received by such
Electing Holder from the sale of such Electing Holder’s Registrable Securities pursuant to such registration. 
 (c)
Notices of Claims, Etc. Promptly after receipt by an indemnified party under subsection (a) or (b) above of written notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made
against an indemnifying party pursuant to the indemnification provisions of or contemplated by this Section 6, notify such indemnifying party in writing of the commencement of such action; but the omission so to notify the indemnifying party
shall not relieve it from any liability which it may have to any indemnified party otherwise than under the indemnification provisions of or contemplated by Section 6(a) or Section 6(b). In case any such action shall be brought against any
indemnified party and it shall notify an indemnifying party of the commencement thereof, such indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly
notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying
party to such indemnified party of its election so to assume the defense thereof, such indemnifying party shall not be liable to such indemnified party for any legal expenses of other counsel or any other expenses, in each case subsequently incurred
by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without the prior written consent of the indemnified party, effect the settlement or compromise of, or
consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such
action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to, or an
admission of, fault, culpability or a failure to act by or on behalf of any indemnified party. 

  
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 (d) Contribution. If for any reason the indemnification provisions
contemplated by Section 6(a) or Section 6(b) are unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault
of the indemnifying party and the indemnified party in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations.
The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact
relates to information supplied by such indemnifying party or by such indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto
agree that it would not be just and equitable if contributions pursuant to this Section 6(d) were determined by pro rata allocation (even if the holders were treated as one entity for such purpose) or by any other method of allocation which
does not take account of the equitable considerations referred to in this Section 6(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages, or liabilities (or actions in respect thereof) referred to
above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 6(d), no
Electing Holder shall be required to contribute any amount in excess of the amount by which the dollar amount of the proceeds received by such holder from the sale of any Registrable Securities (after deducting any fees, discounts and commissions
applicable thereto) exceeds the amount of any damages which such holder 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 holders’ obligations in this Section 6(d) to contribute shall be
several in proportion to the principal amount of Registrable Securities registered by them and not joint. 
 (e) The
obligations of the Company under this Section 6 shall be in addition to any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to each officer, director and partner of each holder, each Electing
Holder, and each person, if any, who controls any of the foregoing within the meaning of the Securities Act; and the obligations of the holders and the Electing Holders contemplated by this Section 6 shall be in addition to any liability which
the respective holder or Electing Holder may otherwise have and shall extend, upon the same terms and conditions, to each officer and director of the Company (including any person who, with his consent, is named in any registration statement as
about to become a director of the Company) and to each person, if any, who controls the Company within the meaning of the Securities Act, as well as to each officer and director of the other holders and to each person, if any, who controls such
other holders within the meaning of the Securities Act. 

  
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 7. Underwritten Offerings. 

Each holder of Registrable Securities hereby agrees with the Company and each other such holder that no holder of Registrable Securities may
participate in any underwritten offering of Registrable Securities hereunder unless (a) the Company gives its prior written consent to such underwritten offering, (b) the managing underwriter or underwriters thereof shall be designated by
Electing Holders holding at least a majority in aggregate principal amount of the Registrable Securities to be included in such offering, provided that such designated managing underwriter or underwriters is or are reasonably acceptable to
the Company, (c) each holder of Registrable Securities participating in such underwritten offering agrees to sell such holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the persons entitled
selecting the managing underwriter or underwriters hereunder and (d) each holder of Registrable Securities participating in such underwritten offering completes and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such underwriting arrangements. The Company hereby agrees with each holder of Registrable Securities that, to the extent it consents to an underwritten offering hereunder, it will
negotiate in good faith and execute all indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements, including using commercially reasonable efforts to procure customary legal
opinions and auditor “comfort” letters. 
 8. Rule 144. 

(a) Facilitation of Sales Pursuant to Rule 144. The Company covenants to the holders of Registrable Securities that, to
the extent it shall be required to do so under the Exchange Act, the Company shall timely file the reports required to be filed by it under the Exchange Act or the Securities Act (including the reports under Sections 13 and 15(d) of the
Exchange Act referred to in subparagraph (c)(1) of Rule 144), and shall take such further action as any holder of Registrable Securities may reasonably request, all to the extent required from time to time to enable such holder to sell
Registrable Securities without registration under the Securities Act within the limitations of the exemption provided by Rule 144. Upon the reasonable request of any holder of Registrable Securities in connection with that holder’s sale
pursuant to Rule 144, the Company shall deliver to such holder a written statement (which may be sent electronically) as to whether it has complied with such requirements. 

(b) Availability of Rule 144 Not Excuse for Obligations under Section 2. The fact that holders of Registrable
Securities may become eligible to sell such Registrable Securities pursuant to Rule 144 shall not (1) cause such Securities to cease to be Registrable Securities or (2) excuse the Company’s obligations set forth in Section 2 of
this Agreement, including without limitation the obligations in respect of an Exchange Offer, Shelf Registration and Special Interest. 

  
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 9. Miscellaneous. 

(a) No Inconsistent Agreements. The Company represents, warrants, covenants and agrees that it has not granted,
and shall not grant, registration rights with respect to Registrable Securities, Exchange Securities or Securities, as applicable, or any other securities which would be inconsistent with the terms contained in this Agreement. 

(b) Specific Performance. The parties hereto acknowledge that there would be no adequate remedy at law if the
Company fails to perform any of its obligations hereunder and that the Dealer Managers and the holders from time to time of the Registrable Securities may be irreparably harmed by any such failure, and accordingly agree that the Dealer Managers and
such holders, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to compel specific performance of the obligations of the Company under this Agreement in accordance with the terms and conditions of
this Agreement, in any court of the United States or any State thereof having jurisdiction. Time shall be of the essence in this Agreement. 

(c) Notices. All notices, requests, claims, demands, waivers and other communications hereunder shall be in
writing and shall be deemed to have been duly given when delivered by hand, if delivered personally, by facsimile or by courier, or three days after being deposited in the mail (registered or certified mail, postage prepaid, return receipt
requested) as follows: If to the Company, to it at Xerox Corporation, Corporate Headquarters, 45 Glover Avenue, Norwalk, CT 06850, and if to a holder, to the address of such holder set forth in the security register or other records of the Company,
or to such other address as the Company or any such holder may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 

(d) Parties in Interest. All the terms and provisions of this Agreement shall be binding upon, shall inure to the
benefit of and shall be enforceable by the parties hereto, the holders from time to time of the Registrable Securities and the respective successors and assigns of the foregoing. In the event that any transferee of any holder of Registrable
Securities shall acquire Registrable Securities, in any manner, whether by gift, bequest, purchase, operation of law or otherwise, such transferee shall, without any further writing or action of any kind, be deemed a beneficiary hereof for all
purposes and such Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such transferee shall be entitled to receive the benefits of, and be conclusively deemed to
have agreed to be bound by all of the applicable terms and provisions of this Agreement. If the Company shall so request, any such successor, assign or transferee shall agree in writing to acquire and hold the Registrable Securities subject to all
of the applicable terms hereof. 
 (e) Survival. The respective indemnities, agreements, representations,
warranties and each other provision set forth in this Agreement or made pursuant hereto shall remain in full force and effect regardless of any investigation (or statement as to the results thereof) made by or on behalf of any holder of Registrable
Securities, any director, officer or partner of such holder, or any controlling person of any of the foregoing, and shall survive delivery of and payment for the Registrable Securities pursuant to the Dealer Manager Agreement, the transfer and
registration of Registrable Securities by such holder and the consummation of an Exchange Offer. 

  
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 (f) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York. 
 (g) Headings. The descriptive headings of the several Sections and
paragraphs of this Agreement are inserted for convenience only, do not constitute a part of this Agreement and shall not affect in any way the meaning or interpretation of this Agreement. 

(h) Entire Agreement; Amendments. This Agreement and the other writings referred to herein (including the Indenture and the form
of Securities) or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. This Agreement supersedes all prior agreements and understandings between the parties with
respect to its subject matter. This Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only by a written instrument duly
executed by the Company and the holders of at least a majority in aggregate principal amount of the Registrable Securities at the time outstanding. Each holder of any Registrable Securities at the time or thereafter outstanding shall be bound by any
amendment or waiver effected pursuant to this Section 9(h), whether or not any notice, writing or marking indicating such amendment or waiver appears on such Registrable Securities or is delivered to such holder. 

(i) Inspection. For so long as this Agreement shall be in effect, this Agreement and a complete list of the names and addresses
of all the record holders of Registrable Securities shall be made available for inspection and copying on any Business Day by any holder of Registrable Securities for proper purposes only (which shall include any purpose related to the rights of the
holders of Registrable Securities under the Securities, the Indenture and this Agreement) at the offices of the Company at the address thereof set forth in Section 9(c) and at the office of the Trustee under the Indenture. 

(j) Counterparts. This Agreement may be executed by the parties in counterparts, each of which shall be deemed to be an
original, but all such respective counterparts shall together constitute one and the same instrument. 
 (k) Severability.
If any provision of this Agreement, or the application thereof in any circumstance, is held to be invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of such provision in every other respect
and of the remaining provisions contained in this Agreement shall not be affected or impaired thereby. 

  
 23 

 If the foregoing is in accordance with your understanding, please sign and return to us one for
the Company and each of the Dealer Managers plus one for each counsel counterparts hereof, and upon the acceptance hereof by you, on behalf of each of the Dealer Managers, this letter and such acceptance hereof shall constitute a binding agreement
between each of the Dealer Managers the Company. It is understood that your acceptance of this letter on behalf of each of the Dealer Managers is pursuant to the authority set forth in a form of Agreement among Dealer Managers, the form of which
shall be submitted to the Company for examination upon request, but without warranty on your part as to the authority of the signers thereof. 
  

			
	Very truly yours,
	
	XEROX CORPORATION
		
	By:	 	/s/ Robert Birkenholz
		 	Name: Robert Birkenholz
		 	Title:   Vice President and Treasurer

  
 [Signature Page to
Exchange and Registration Rights Agreement] 

			
	Accepted as of the date hereof:
	
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	/s/ Matthew Barsamian
	
	As Dealer Manager

  
 [Signature Page to
Exchange and Registration Rights Agreement] 

			
	Accepted as of the date hereof:
	
	CREDIT SUISSE SECURITIES (USA) LLC
		
	By:	 	/s/ Spencer Haimes
	
	As Dealer Manager

  
 [Signature Page to
Exchange and Registration Rights Agreement] 

			
	Accepted as of the date hereof:
	
	GOLDMAN, SACHS & CO.
		
	By:	 	/s/ Adam Greene
	
	As Dealer Manager

  
 [Signature Page to
Exchange and Registration Rights Agreement] 

 Exhibit A 

Xerox Corporation 
 INSTRUCTION
TO DTC PARTICIPANTS 
 (Date of Mailing) 

URGENT - IMMEDIATE ATTENTION REQUESTED 

DEADLINE FOR RESPONSE: [DATE]1 

The Depository Trust Company (“DTC”) has identified you as a DTC Participant through which beneficial interests in Xerox Corporation
(the “Company”) 4.070% Notes due 2022 (the “Securities”) are held. 
 The Company is in the process of
registering the Securities under the Securities Act of 1933 for resale by the beneficial owners thereof. In order to have their Securities included in the registration statement, beneficial owners must complete and return the enclosed Notice of
Registration Statement and Selling Securityholder Questionnaire. 
 It is important that beneficial owners of the Securities receive a copy of the
enclosed materials as soon as possible as their rights to have the Securities included in the registration statement depend upon their returning the Notice and Questionnaire by [Deadline For Response]. Please forward a copy of the
enclosed documents to each beneficial owner that holds interests in the Securities through you. If you require more copies of the enclosed materials or have any questions pertaining to this matter, please contact Xerox Corporation, Corporate
Headquarters, 45 Glover Avenue, Norwalk, CT 06850. 
  
  

	1 	Not less than 28 calendar days from date of mailing. 

  
 A-1 

 Xerox Corporation 

Notice of Registration Statement 

and 
 Selling Securityholder
Questionnaire 
 (Date) 
 Reference is
hereby made to the Exchange and Registration Rights Agreement (the “Exchange and Registration Rights Agreement”), dated March 17, 2017, between Xerox Corporation (the “Company”) and the Dealer Managers named
therein. Pursuant to the Exchange and Registration Rights Agreement, the Company has filed or will file with the United States Securities and Exchange Commission (the “Commission”) a registration statement on Form [●] or other
appropriate form of registration statement (the “Shelf Registration Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the
Company’s 4.070% Notes due 2022 (the “Securities”). A copy of the Exchange and Registration Rights Agreement has been filed as an exhibit to the Shelf Registration Statement or, if not, can be obtained from the
Commission’s website at www.sec.gov. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Exchange and Registration Rights Agreement. 

Each beneficial owner of Registrable Securities (as defined below) is entitled to have the Registrable Securities beneficially owned by it included in the
Shelf Registration Statement. In order to have Registrable Securities included in the Shelf Registration Statement, this Notice of Registration Statement and Selling Securityholder Questionnaire (“Notice and Questionnaire”) must be
completed, executed and delivered to the Company’s counsel at the address set forth herein for receipt ON OR BEFORE [Deadline for Response]. Beneficial owners of Registrable Securities who do not properly complete, execute and
return this Notice and Questionnaire by such date (i) will not be named as selling securityholders in the Shelf Registration Statement and (ii) may not use the prospectus forming a part thereof for resales of Registrable Securities. 

Certain legal consequences arise from being named as a selling securityholder in the Shelf Registration Statement and related prospectus. Accordingly, holders
and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling securityholder in the Shelf Registration Statement and related
prospectus. 
 The term “Registrable Securities” is defined in the Exchange and Registration Rights Agreement. 

  
 A-2 

 ELECTION 

The undersigned holder (the “Selling Securityholder”) of Registrable Securities hereby elects to include in the Shelf Registration
Statement the Registrable Securities beneficially owned by it and listed below in Item (3). The undersigned, by signing and returning this Notice and Questionnaire, agrees to be bound with respect to such Registrable Securities by the terms and
conditions of this Notice and Questionnaire and the Exchange and Registration Rights Agreement, including, without limitation, Section 6 of the Exchange and Registration Rights Agreement, as if the undersigned Selling Securityholder were an
original party thereto. 
 Pursuant to the Exchange and Registration Rights Agreement, the undersigned has agreed to indemnify and hold harmless the
Company, its officers who sign any Shelf Registration Statement, and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act of 1934, as amended (the
“Exchange Act”), against certain losses arising out of an untrue statement, or the alleged untrue statement, of a material fact in the Shelf Registration Statement or the related prospectus or the omission, or alleged omission, to
state a material fact required to be stated in such Shelf Registration Statement or the related prospectus, but only to the extent such untrue statement or omission, or alleged untrue statement or omission, was made in reliance on and in conformity
with the information provided in this Notice and Questionnaire. 
 Upon any sale of Registrable Securities pursuant to the Shelf Registration Statement, the
Selling Securityholder will be required to deliver to the Company and Trustee the Notice of Transfer set forth in Appendix A to the prospectus and as Exhibit B to the Exchange and Registration Rights Agreement. 

The Selling Securityholder hereby provides the following information to the Company and represents and warrants that such information is accurate and
complete: 

  
 A-3 

 QUESTIONNAIRE 
  

					
	(1)	  	(a)	  	Full legal name of Selling Securityholder:
			
		  	(b)	  	Full legal name of registered Holder (if not the same as in (a) above) of Registrable Securities listed in Item (3) below:
			
		  	(c)	  	Full legal name of DTC Participant (if applicable and if not the same as (b) above) through which Registrable Securities listed in Item (3) below are held:
		
	(2)	  	Address for notices to Selling Securityholder:
		
		  	Telephone:
		  	Fax:
		  	Contact Person:
		  	E-mail for Contact Person:
		
	(3)	  	Beneficial Ownership of Securities:
	
	 Except as set forth below in this Item (3), the undersigned does not beneficially own any
Securities.

			
		  	(a)	  	Principal amount of Registrable Securities beneficially owned:
		  		  	CUSIP No(s). of such Registrable Securities:
			
		  	(b)	  	Principal amount of Securities other than Registrable Securities beneficially owned:
		  		  	CUSIP No(s). of such other Securities:
			
		  	(c)	  	Principal amount of Registrable Securities that the undersigned wishes to be included in the Shelf Registration Statement:
		  		  	CUSIP No(s). of such Registrable Securities to be included in the Shelf Registration Statement:
		
	(4)	  	Beneficial Ownership of Other Securities of the Company:
		
		  	 Except as set forth below in this Item (4), the undersigned Selling Securityholder is not the beneficial or
registered owner of any other securities of the Company, other than the Securities listed above in Item (3).

			
		  		  	State any exceptions here:
		
	(5)	  	Individuals who exercise dispositive powers with respect to the Securities:
		
		  	 If the Selling Securityholder is not an entity that is required to file reports with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act (a “Reporting Company”), then the Selling Securityholder must disclose the name of the natural person(s)
who

  
 A-4 

					
		
		  	exercise sole or shared dispositive powers with respect to the Securities. Selling Securityholders should disclose the beneficial holders, not nominee holders or other such others of record. In addition, the
Commission has provided guidance that Rule 13d-3 of the Securities Exchange Act of 1934 should be used by analogy when determining the person or persons sharing voting and/or dispositive powers with respect to the Securities.
			
		  	(a)	  	Is the holder a Reporting Company?
			
		  		  	Yes  ☐    No  ☐
			
		  		  	If “No,” please answer Item (5)(b).
			
		  	(b)	  	List below the individual or individuals who exercise dispositive powers with respect to the Securities:
		
		  	 Please note that the names of the persons listed in (b) above will be included in the Shelf
Registration Statement and related prospectus.

			
		  	(6)	  	Relationships with the Company:
		
		  	 Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers,
directors or principal equity holders (5% or more) has held any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years.

			
		  		  	State any exceptions here:
		
	(7)	  	Plan of Distribution:
		
		  	 Except as set forth below, the undersigned Selling Securityholder intends to distribute the Registrable
Securities listed above in Item (3) only as follows (if at all): Such Registrable Securities may be sold from time to time directly by the undersigned Selling Securityholder. Such Registrable Securities may be sold in one or more transactions
at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale, or at negotiated prices. Such sales may be effected in transactions (which may involve crosses or block transactions) (i) on any
national securities exchange or quotation service on which the Registered Securities may be listed or quoted at the time of sale, (ii) in the over-the-counter market, (iii) in transactions otherwise than on such exchanges or services or in
the over-the-counter market, or (iv) through the writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter into hedging transactions with broker-dealers, which may in turn
engage in short sales of the Registrable Securities in the course of hedging the positions they assume. The Selling Securityholder may also sell Registrable Securities short and deliver Registrable Securities to close out such short positions, or
loan or pledge Registrable Securities to broker-dealers that in turn may sell such securities.

  
 A-5 

							
		
		  	 State any exceptions here:

		
		  	 Note: In no event may such method(s) of distribution take the form of an underwritten offering of
Registrable Securities without the prior written agreement of the Company.

		
	(8)	  	Broker-Dealers:
		
		  	 The Commission requires that all Selling Securityholders that are registered broker-dealers or
affiliates of registered broker-dealers be so identified in the Shelf Registration Statement. In addition, the Commission requires that all Selling Securityholders that are registered broker-dealers be named as underwriters in the Shelf Registration
Statement and related prospectus, even if they did not receive the Registrable Securities as compensation for underwriting activities.

			
		  	(a)	  	State whether the undersigned Selling Securityholder is a registered broker-dealer:
			
		  		  	Yes  ☐    No  ☐
			
		  	(b)	  	If the answer to (a) is “Yes,” you must answer (i) and (ii) below, and (iii) below if applicable. Your answers to (i) and (ii) below, and (iii) below if applicable, will be included in the Shelf Registration
Statement and related prospectus.
				
		  		  	(i)	  	Were the Securities acquired as compensation for underwriting activities?
				
		  		  		  	Yes  ☐    No  ☐
		
		  	 If you answered “Yes”, please provide a brief description of the transaction(s) in which the
Securities were acquired as compensation:

				
		  		  	(ii)	  	Were the Securities acquired for investment purposes?
				
		  		  		  	Yes  ☐    No  ☐
				
		  		  	(iii)	  	If you answered “No” to both (i) and (ii), please explain the Selling Securityholder’s reason for acquiring the Securities:
			
		  	(c)	  	State whether the undersigned Selling Securityholder is an affiliate of a registered broker-dealer and, if so, list the name(s) of the broker-dealer affiliate(s):
			
		  		  	Yes  ☐    No  ☐
			
		  	(d)	  	If you answered “Yes” to question (c) above:
				
		  		  	(i)	  	Did the undersigned Selling Securityholder purchase Registrable Securities in the ordinary course of business?
				
		  		  		  	Yes  ☐    No  ☐

  
 A-6 

							
			
		 		  	If the answer is “No” to question (d)(i), provide a brief explanation of the circumstances in which the Selling Securityholder acquired the Registrable Securities:
				
		 		  	(ii)	  	At the time of the purchase of the Registrable Securities, did the undersigned Selling Securityholder have any agreements, understandings or arrangements, directly or indirectly, with any person to dispose of or distribute the
Registrable Securities?
				
		 		  		  	Yes  ☐    No  ☐
			
		 		  	If the answer is “Yes” to question (d)(ii), provide a brief explanation of such agreements, understandings or arrangements:
		
		 	 If the answer is “No” to Item (8)(d)(i) or “Yes” to Item (8)(d)(ii), you
will be named as an underwriter in the Shelf Registration Statement and the related prospectus.

			
	(9)	 		  	Hedging and short sales:
			
		 	(a)	  	State whether the undersigned Selling Securityholder has or will enter into “hedging transactions” with respect to the Registrable Securities:
			
		 		  	Yes  ☐    No  ☐
		
		 	 If “Yes,” provide below a complete description of the hedging transactions into which the
undersigned Selling Securityholder has entered or will enter and the purpose of such hedging transactions, including the extent to which such hedging transactions remain in place:

			
		 	(b)	  	Set forth below is Section 239.10 of the Commission’s Compliance and Disclosure Interpretations regarding short selling:
			
		 		  	 “An issuer filed a Form S-3 registration statement for a secondary offering of common stock which is
not yet effective. One of the selling shareholders wanted to do a short sale of common stock “against the box” and cover the short sale with registered shares after the effective date. The issuer was advised that the short sale could not
be made before the registration statement becomes effective, because the shares underlying the short sale are deemed to be sold at the time such sale is made. There would, therefore, be a violation of Section 5 if the shares were effectively
sold prior to the effective date.”

		
		 	 By returning this Notice and Questionnaire, the undersigned Selling Securityholder will be deemed to be
aware of the foregoing interpretation.

 * * * * * 

  
 A-7 

 By signing below, the Selling Securityholder acknowledges that it understands its obligation to comply, and
agrees that it will comply, with the provisions of the Exchange Act, particularly Regulation M (or any successor rule or regulation). 
 The Selling
Securityholder hereby acknowledges its obligations under the Exchange and Registration Rights Agreement to indemnify and hold harmless the Company and certain other persons as set forth in the Exchange and Registration Rights Agreement. 

In the event that the Selling Securityholder transfers all or any portion of the Registrable Securities listed in Item (3) above after the date on which
such information is provided to the Company, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and obligations under this Notice and Questionnaire and the Exchange and Registration Rights
Agreement. 
 By signing below, the Selling Securityholder consents to the disclosure of the information contained herein in its answers to Items
(1) through (9) above and the inclusion of such information in the Shelf Registration Statement and related prospectus. The Selling Securityholder understands that such information will be relied upon by the Company in connection with the
preparation of the Shelf Registration Statement and related prospectus. 
 In accordance with the Selling Securityholder’s obligation under
Section 3(d) of the Exchange and Registration Rights Agreement to provide such information as may be required by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to promptly notify the Company of any
inaccuracies or changes in the information provided herein which may occur subsequent to the date hereof at any time while the Shelf Registration Statement remains in effect and to provide such additional information that the Company may reasonably
request regarding such Selling Securityholder and the intended method of distribution of Registrable Securities in order to comply with the Securities Act. Except as otherwise provided in the Exchange and Registration Rights Agreement, all notices
hereunder and pursuant to the 
 Exchange and Registration Rights Agreement shall be made in writing, by hand-delivery, first-class mail, or air courier
guaranteeing overnight delivery as follows: 
  

	 	(i)	To the Company: 

  

	 	(ii)	With a copy to: 

 Once this Notice and Questionnaire is executed by the Selling Securityholder and received by
the Company’s counsel, the terms of this Notice and Questionnaire, and the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective successors, heirs,
personal representatives, and assigns of the Company and the Selling Securityholder (with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above. This Notice and Questionnaire shall
be governed in all respects by the laws of the State of New York. 

  
 A-8 

							
	
	IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its duly authorized agent.
		
	Dated:	  	 
		
		  	 
		  	Selling Securityholder
		  	(Print/type full legal name of beneficial owner of Registrable Securities)
				
		  	By:	  	 	  	
		  		  	Name:                                      
                          	  	
		  		  	Title:	  	
	
	PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE FOR RECEIPT ON OR BEFORE [DEADLINE FOR RESPONSE] TO THE COMPANY’S COUNSEL AT:

  
 A-9 

 Exhibit B 

NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT 

The Bank of New York Mellon 
 Xerox Corporation 

c/o The Bank of New York Mellon 
 225 Liberty Street 

New York, New York 10286 
 United States 

Attention: Trust Officer 
  

	 	Re:	Xerox Corporation (the “Company”) 

	 	    	4.070% Notes due 2022 

 Dear Sirs: 

Please be advised that
                                        
has transferred $             aggregate principal amount of the above-referenced Notes pursuant to an effective Registration Statement on Form [     ] (File
No. 333-            ) filed by the Company. 
 We hereby certify that the prospectus
delivery requirements, if any, of the Securities Act of 1933, as amended, have been satisfied and that the above-named beneficial owner of the Notes is named as a “Selling Holder” in the prospectus dated [date] or in supplements
thereto, and that the aggregate principal amount of the Notes transferred are the Notes listed in such prospectus opposite such owner’s name. 
 Dated:

  

			
	Very truly yours,
		
		 	 
		 	(Name)
		
	By:	 	 
		 	(Authorized Signature)

  
 B-1

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