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fprx-ex101_149.htm

EXHIBIT 10.1

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Research Collaboration and License Agreement

This Research Collaboration and License Agreement (this “Agreement”), effective as of July 13, 2015 (the “Effective Date”), is entered into by and between Five Prime Therapeutics, Inc., a Delaware corporation (“FivePrime”), and INBRX 110 LP, a Delaware limited partnership (“INBRX”).  FivePrime and INBRX are each referred to individually as a “Party” and collectively as the “Parties.”

Background

A.FivePrime is a biotechnology company focused on the discovery and development of innovative protein and antibody drugs.

B.INBRX is a biotechnology company that has developed certain antibodies directed to glucocorticoid-induced tumor necrosis factor receptor (GITR), and owns or controls certain tangible and intellectual property related to such antibodies; and

C.The Parties wish for FivePrime to obtain certain rights and licenses to such tangible and intellectual property to use such antibodies in order to develop, manufacture and commercialize pharmaceutical products pursuant to the terms and conditions set forth herein.

In consideration of the foregoing premises and the covenants herein contained, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1.Definitions. Unless specifically set forth to the contrary herein, the following terms, whether used in the singular or plural, have the respective meanings set forth below.

1.1“Affiliate” means, with respect to a Party, any Entity that controls, is controlled by, or is under common control with that Party.  For the purpose of this definition, “control” means direct or indirect ownership of more than 50% of the shares of stock entitled to vote for the election of directors, in the case of a corporation, or more than 50% of the equity interest in the case of any other type of legal entity, status as a general partner in any partnership, or any other similar arrangement whereby such Entity controls or has the right to control the board of directors or equivalent governing body of such Entity, or the ability to cause the direction of the management or policies of such Entity.

1.2“Agreement” is defined in the preamble of this Agreement.

1.3“Alleged Infringer” is defined in Section 9.3.1.

1.4 “Arbitration” is defined in Section 13.6.1.

1.5“Back-up Product” is defined in Section 7.2.6(b).

 

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1.6“Biosimilar” means, in a particular country with respect to a Licensed Therapeutic Product, any product that: (a) has received all necessary approvals by applicable Regulatory Authorities in such country to market or sell such product as a pharmaceutical product; (b) is marketed or sold by a Third Party that has not obtained the rights to market or sell such product as a licensee, sublicensee or distributor of FivePrime or any of its Affiliates, licensees or sublicensees with respect to such product; and (c) is approved as a (i) “biosimilar” (in the United States) of such Licensed Therapeutic Product, (ii) as a “similar biological medicinal product” (in the EU) with respect to which such Licensed Therapeutic Product is the “reference product” or (iii) if not the US or EU, as a foreign equivalent of a “biosimilar” or “similar biological medicinal product” of such Licensed Therapeutic Product; in each case for use in such country pursuant to an expedited regulatory approval process governing approval of generic biologics based on then-current standards for regulatory approval in such country (e.g., the Biologics Price Competition and Innovation Act of 2009 or an equivalent under non-U.S. law) and where such regulatory approval was based in significant part upon clinical data generated by or on behalf of FivePrime or its Affiliates or sublicensee, with respect to such Licensed Therapeutic Product. 

1.7“BLA” means a Biological License Application (as defined by the FDA) or its foreign equivalent (or any successor application having substantially the same function).

1.8“Breakthrough Designation” means designation by the FDA as a breakthrough therapy pursuant to 21 U.S.C. section 356 (or its successor).

1.9“Breakthrough Status” means, with respect to a Licensed Therapeutic Product, that such Licensed Therapeutic Product has obtained a Breakthrough Designation in the United States in any indication within the Therapeutic Field.

1.10“Business Day” means any day other than a Saturday, a Sunday or any day on which banks in the State of New York are permitted or required to close by Law.

1.11“Clinical Trial” means any of a Phase 1 Trial, Phase 2 Trial or Phase 3 Trial, or any combination thereof.

1.12“Collaboration Know-How” of a Party means all Know-How that is first conceived or otherwise first created by or on behalf of such Party in the performance of the R&D Program during the Research Term.

1.13“Collaboration Patents” means any and all Patents that claim an Invention first conceived by or on behalf of either Party or both Parties (i) in the performance of the R&D Program during the Research Term or (ii) based upon the results of the R&D Program.

1.14“Combination Product” means a product that: (i) as applicable to a Licensed 

 

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Therapeutic Product, contains at least one Compound or Licensed Product and at least one additional therapeutically active product that is not a Compound or Licensed Therapeutic Product; and (ii) as applicable to a Licensed Diagnostic Product, contains at least one Compound or Licensed Diagnostic Product and at least one additional product essential for the function of the Licensed Diagnostic Product and that is not a standardized reagent (e.g., buffers) or means of sample collection (e.g., blood collection tube); in either case whether co-formulated or  sold together with a Licensed Product in a single package or as a unit and at a single price. 

1.15“Commercially Reasonable Efforts” means: (i) where applied to carrying out specific obligations under the Research Plan, including an approved Additional Support Plan, the exercise of such efforts and commitment of such resources, consistent with the exercise of prudent scientific and business judgment, as such Party would apply to other research and development programs for pharmaceutical products it owns or controls; and (ii) where applied to the development or commercialization of a Licensed Therapeutic Product, the efforts and resources that a similarly situated Entity would apply to an active and continuing program of development or commercialization of a pharmaceutical product; in each case, of a market potential similar to the market potential of such Licensed Therapeutic Product, at a similar stage of its product life, taking into account the competitiveness of the marketplace, the proprietary position of such Licensed Therapeutic Product, the regulatory status involved, the pricing and launching strategy and the relative safety and efficacy of such Licensed Therapeutic Product.

1.16“Common Stock” means the common stock of FivePrime.

1.17“Compound” means the following: (A) each antibody, antibody-like protein or other protein therapeutic that specifically binds to and modulates glucocorticoid-induced tumor necrosis factor receptor (GITR) that is Controlled by INBRX as of the Effective Date or during the Term, and (B) any modification, derivative, fragment or variant of any such antibody antibody-like protein or other protein therapeutic that specifically binds to and modulates glucocorticoid-induced tumor necrosis factor receptor (GITR) and is Controlled by INBRX as of the Effective Date or during the Term; in each case ((A) and (B)) that is not a Multi-Specific Compound.

1.18“Confidential Information” is defined in Section 8.1.

1.19“Contractor” is defined in Section 3.6.

1.20“Controlled” means with respect to any Know-How, Patent, Material, Compound, Multi-Specific Compound or other tangible or intangible intellectual property, the possession of (whether by ownership or license, other than licenses granted pursuant to this Agreement) or the ability of a Party or its Affiliates to grant to the other Party access to, ownership of, or a license 

 

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or sublicense under, such Know-How, Patent, Material, Compound, Multi-Specific Compound or other intellectual property, in each case as provided under this Agreement, without violating the terms of any agreement or other arrangement with any Third Party. 

1.21“Cumulative Net Sales” means, with respect to a Licensed Therapeutic Product, the cumulative aggregate of all Net Sales in all countries in the Territory since the First Commercial Sale of such Licensed Therapeutic Product in any country in the Territory.

1.22“Derivative” means, in relation to a particular Multi-Specific Compound, any modification, derivative, fragment or variant of such Multi-Specific Compound that specifically binds to and modulates the same combination of antigens as such Multi-Specific Compound.

1.23“Diagnostic Field” means the use for the identification, diagnosis, screening or monitoring of any disease, disorder or condition in humans.  For clarity, the Diagnostic Field shall exclude the Therapeutic Field.

1.24“Disclosing Party” is defined in Section 8.1.

1.25“Dollar” “dollar” or “$” means the legal tender of the United States.

1.26“Effective Date” is defined in the preamble of this Agreement.

1.27“EMA” means the European Medicines Agency, or any successor thereof performing substantially the same functions.

1.28“Entity” means a partnership, limited partnership, limited liability partnership, corporation, limited liability company, business trust, joint stock company, trust, incorporated association, joint venture or similar entity or organization.

1.29“EU” means the European Union, as its membership may be altered from time to time, any successor thereto and any country included therein.

1.30“Excluded Claim” is defined in Section 13.6.8.

1.31“FDA” means the United States Food and Drug Administration, or any successor entity thereof performing substantially the same functions.

1.32“Field of Use” means the Therapeutic Field or the Diagnostic Field, as the case may be.

1.33“First Commercial Sale” means, with respect to a particular Licensed Product in a 

 

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particular country, the first sale of such Licensed Product in such country following the receipt of a Marketing Authorization. 

1.34“FivePrime” is defined in the preamble of this Agreement.

1.35“FivePrime Collaboration Know-How” means Collaboration Know-How that is conceived or created solely by FivePrime and its Affiliates and/or their respective employees, contractors and consultants.

1.36“FivePrime Collaboration Patent” means a Collaboration Patent that claims an Invention that is conceived solely by FivePrime and its Affiliates and/or their respective employees, contractors and consultants.

1.37“FivePrime Indemnitee” is defined in Section 12.1.

1.38“FivePrime Losses” is defined in Section 12.1.

1.39“FTE” means the equivalent of the work of one appropriately qualified individual working on a full-time basis in performing work in support of the R&D Program for a 12-month period (measured in accordance with the INBRX’s standard time allocation process). For clarity, one FTE’s work may be carried out by one or more employees, contractors or consultants of INBRX.

1.40“IND” means any investigational new drug application filed with the FDA pursuant to Part 312 of Title 21 of the U.S. Code of Federal Regulations, including any amendments thereto.  References herein to IND include, to the extent applicable, any comparable filing(s) outside of the U.S. (such as a clinical trial application (CTA) in the European Union).

1.41“Infringement Action” is defined in Section 9.3.2.

1.42“INBRX” is defined in the preamble of this Agreement.

1.43“INBRX Collaboration Know-How” means Collaboration Know-How that is conceived or created solely by INBRX and its Affiliates and/or their respective employees, contractors and consultants.

1.44“INBRX Collaboration Patent” means a Collaboration Patent that claims an Invention that is conceived solely by INBRX and its Affiliates and/or their respective employees, contractors and consultants.

1.45“INBRX GITR Patent” means an INBRX Patent having claimed subject matter 

 

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limited to only (i) Compounds, Licensed Products and/or Licensed Diagnostics; or (ii) methods of making or using Compounds, Licensed Products and/or Licensed Diagnostics. 

1.46“INBRX Indemnitee” is defined in Section 12.2.

1.47“INBRX Know-How” means all Know-How that is (i) Controlled by INBRX as of the Effective Date or during the Term and (ii) necessary for FivePrime to make, have made, distribute, use, sell, offer for sale, export or import Compounds and/or Licensed Products in accordance with the Licenses granted to FivePrime under this Agreement.

1.48“INBRX Losses” is defined in Section 12.2.

1.49“INBRX Patents” means each Patent that is (i) Controlled by INBRX as of the Effective Date or during the Term and (ii) necessary for FivePrime to make, have made, distribute, use, sell, offer for sale, export or import Compounds and/or Licensed Products in accordance with the Licenses granted to FivePrime under this Agreement.  As of the Effective Date, the INBRX Patents consist of the Patents set forth on Exhibit B. 

1.50“INBRX Platform Patents” means each INBRX Patent that is not an INBRX GITR Patent.

1.51“Initiation” is defined in Section 7.2.3.

1.52“Invention” means any invention, industrial design, utility model, discovery, technical idea, process, formulation, method, composition of matter, article of manufacture, discovery, or finding (whether patentable or not).

1.53“JAMS Rules” is defined in Section 13.6.1.

1.54“Joint Collaboration Know-How” means Collaboration Know-How that is conceived or created jointly by the Parties or their respective Affiliates or their employees, contractors or consultants (i.e., by at least one employee, contractor or consultant of INBRX or its Affiliates, and at least one employee, contractor or consultant of FivePrime or its Affiliates.).

1.55“Joint Collaboration Patent” means a Collaboration Patent that claims an Invention that is conceived jointly by the Parties or their respective employees, contractors or consultants (i.e. by at least one employee, contractor or consultant of INBRX and at least one employee, contractor or consultant of FivePrime.)

1.56“JRC” is defined in Section 2.2.

 

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1.57“Know-How” means any tangible and intangible information, data, results (including pharmacological, research and development data, reports and batch records), and materials, discoveries, improvements, Inventions, compositions of matter, cell lines, assays, sequences, processes, methods, knowledge, protocols, formulas, utility, formulations, inventions (whether patentable or not), strategy, know-how and trade secrets, and all other scientific, pre-clinical, clinical, regulatory, manufacturing, marketing, financial and commercial information or data, in each case that either Party has treated as confidential or proprietary information and that is not generally known by the public, but excluding any of the foregoing to the extent claimed in any Patents. 

1.58“Law” means any federal, state, local, foreign or multinational law, statute, ordinance, code, rule, regulation, or order of any government authority in the Territory, or any similar provision having the force or effect of law.

1.59“License” is defined in Section 5.1.1.

1.60“Licensed IP” means the INBRX Patents and INBRX Know-How, including INBRX’s right, title and interest to the Joint Collaboration Know-How, the Joint Collaboration Patents, the INBRX Collaboration Know-How and the INBRX Collaboration Patents.

1.61“Licensed Diagnostic Product” means any product in any form, presentation or formulation that contains a Compound, which product is used to identify, diagnose, screen or monitor patients with or a predisposition to a human disease or condition or to characterize a human disease or condition, including for use to: (a) identify patients having a particular disease or particular molecular genotype or phenotype having a predisposition to a particular disease; (b) define the prognosis or monitor the progress of any disease or condition in a patient; (c) select between two (2) or more therapeutic or prophylactic regimens; or (d) confirm a pharmaceutical product’s biological activity or to optimize dosing or scheduling.  For clarity, Licensed Diagnostic Products exclude Licensed Therapeutic Products.

1.62“Licensed Multi-Specific Compound” is defined in Section 4.2.

1.63“Licensed Multi-Specific Product” is defined in Section 4.2.

1.64“Licensed Product” means a Licensed Therapeutic Product or Licensed Diagnostic Product.

1.65“Licensed Therapeutic Product” means any therapeutic product in any form, presentation, formulation or dosage that (i) contains a Compound or (ii) is a Licensed Multi-Specific Product.  

 

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1.66“Marketing Authorizations” means all approvals necessary from the relevant Regulatory Authority to permit a Party or its sublicense(s) to market and sell a Compound or Licensed Product in a particular country, including, if and as applicable, approval of an NDA or BLA for a Licensed Therapeutic Product. 

1.67“Materials” means any proprietary compounds, animals, biological materials, research tools, or other tangible materials that are Controlled by a Party or its Affiliates and that are used in connection with the performance of the Research Plan under this Agreement.

1.68“Multi-Specific Compound” means any antibody, antibody-like protein or other protein therapeutic Controlled by INBRX as of the Effective Date or during the Term that specifically binds to and modulates both (a) glucocorticoid-induced tumor necrosis factor receptor (GITR) and (b) another antigen.

1.69“NDA” means a New Drug Application or similar application or submission in any country for approval to market a Licensed Therapeutic Product.

1.70“Net Sales” means the gross amount invoiced by FivePrime or its Affiliates or any of their sublicensees for sales or other commercial disposition of a Licensed Product (in final form for end use) to a Third Party purchaser in a bona fide, arms-length transaction, less the following deductions to the extent directly applicable to such sales and as deducted from revenue in accordance with FivePrime’s accounting policies consistently applied:

	
 
	
(i)
	
reasonable and customary rebates, quantity, trade and cash discounts to customers actually allowed and properly taken;

	
 
	
(ii)
	
governmental and other rebates, chargebacks or administrative fees (or equivalents thereof) granted to managed health care organizations, pharmacy benefit managers (or equivalents thereof) or to national, federal, state, provincial, local and other governments, their respective agencies, purchasers and reimbursers or to trade customers actually allowed and properly taken;

	
 
	
(iii)
	
retroactive price reductions, credits or allowances actually granted upon rejections, destruction or returns of such Licensed Product, including for recalls or damaged goods;

	
 
	
(iv)
	
reasonable freight, postage, shipping and insurance charges actually allowed or paid for delivery of such Licensed Product, to the extent included in the gross sales price;

 

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(v)
	
sales taxes, excise taxes, use taxes, import/export duties or other governmental charges actually due or incurred with respect to such sales, including value-added taxes, to the extent applicable; and 

	
 
	
(vi)
	
 amounts actually written off as uncollectible to the extent consistent with FivePrime’s, its Affiliate’s or sublicensee’s reasonable business practices for its other products (such amounts shall be added back to the Net Sales if and when actually collected).

 

Any of the above deductions shall be permitted if incurred in the ordinary course of business in type and amount consistent with good industry practice and determined in accordance with generally accepted accounting principles on a basis consistent with FivePrime’s audited consolidated financial statements.

Any Licensed Product *** shall not be included in Net Sales, provided that ***.  Net Sales will not include transfers among FivePrime, its Affiliates, or sublicensees unless the recipient is the end purchaser.

If a Licensed Product is sold as part of a Combination Product, the Net Sales of such Licensed Product for the purpose of calculating royalties owed under this Agreement for sales of such Licensed Product, shall be determined as follows: first, FivePrime shall determine the actual Net Sales of such Combination Product (using the above provisions) and then such amount shall be multiplied by the fraction A/(A+B), where (x) A is the average gross invoiced amount by FivePrime or its Affiliates or any of their sublicensees in the applicable Quarter in the applicable country of such Licensed Product sold separately, if sold separately, in the same formulation and dosage, and (y) B is (a) if there are multiple therapeutically active products (in the case of a Licensed Therapeutic Product) or other non-therapeutic products (in the case of a Licensed Diagnostic Product) in the Combination Product, the sum  of the average gross invoiced amounts in the applicable Quarter in the applicable country of each other therapeutically active product (in the case of a Licensed Therapeutic Product) or other non-therapeutic product (in the case of a Licensed Diagnostic Product)  in the Combination Product sold separately, if sold separately or (b), if there is a single active product (in the case of a Licensed Therapeutic Product) or other non-therapeutic product (in the case of a Licensed Diagnostic Product) in the Combination Product, the average gross invoiced amount in the applicable Quarter in the applicable country of such other therapeutically active product (in the case of a Licensed Therapeutic Product) or other non-therapeutic product (in the case of a Licensed Diagnostic Product) in the Combination Product sold separately, if sold separately, in each case, in the same formulation, dosage or unit quantity.  If any therapeutically active product (in the case of a Licensed Therapeutic Product) or other non-therapeutic product (in the case of a Licensed Diagnostic Product) in the Combination Product is not sold separately in the relevant formulation, dosage or unit quantity in the relevant 

 

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*** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 

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Quarter, Net Sales shall be calculated by multiplying actual Net Sales of such Combination Product by the fraction A/C where A is the average gross invoiced amount in the applicable Quarter in the applicable country of such Licensed Product sold separately in the same formulation and dosage and C is the average gross invoiced amount in the applicable Quarter in the applicable country of such Combination Product.  If neither the Licensed Product nor any other therapeutically active product (in the case of a Licensed Therapeutic Product) or other non-therapeutic product (in the case of a Licensed Diagnostic Product) in the Combination Product is sold separately in the applicable Quarter in the relevant formulation, dosage or unit quantity, the adjustment to Net Sales shall be determined by the Parties in good faith to reasonably reflect the fair market value of the contribution of such Licensed Product in the Combination Product to the total fair market value of such Combination Product.   

In the event that the average gross invoiced amount is not publicly available for any active therapeutic product (in the case of a Licensed Therapeutic Product) or other non-therapeutic product (in the case of a Licensed Diagnostic Product) contained in such Combination Product that is not sold or commercially distributed by FivePrime, the Parties shall use the average gross selling price for such Combination Product or such active therapeutic product or other non-therapeutic product in lieu of the average gross invoiced amount for purposes of calculating the Net Sales of the Licensed Product contained in such Combination Product.  The average gross selling price for therapeutically active product(s) or other non-therapeutic product(s) contained in the Combination Product during a relevant Quarter shall be calculated by dividing the gross sales of such product(s) during such Quarter by the number units of such product(s) sold, as published by IMS or another independent source agreed upon by the Parties.  If information necessary to make the above calculation is not available, the adjustment to Net Sales shall be determined by the Parties in good faith.

In the case of any sale or other disposal of any Licensed Product other than an invoiced sale in an arm’s length transaction exclusively for money, Net Sales shall be calculated as above on the fair market value of the Licensed Product.

1.71“Party” or “Parties” is defined in the preamble of this Agreement.

1.72“Patent” means (a) an issued patent or pending patent application and any patent issuing therefrom, including any certificate of invention, application for certificate of invention, utility model, or application for utility model, provisional, converted provisional, non-provisional, divisional, continuation, continuation-in-part, and continued prosecution application; and (b) any substitution, reissue, reexamination, renewal, confirmation, revalidation,  extension and supplementary protection certificate with respect to any of the foregoing.

1.73“Person” means any individual, unincorporated organization or association, 

 

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governmental authority or agency, Entity or other entity not specifically listed herein. 

1.74“Phase 1 Trial” means a human clinical trial of a Licensed Therapeutic Product in any country that would satisfy the requirements of 21 C.F.R. § 312.21(a), or its foreign equivalent.

1.75“Phase 2 Trial” means a human clinical trial of a Licensed Therapeutic Product in any country that would satisfy the requirements of 21 C.F.R. § 312.21(b).  For clarity, a trial called a Phase 1/2 or Phase 1b/2 trial shall be considered a Phase 2 trial if it satisfies the requirements of 21 C.F.R. § 312.21(b).

1.76“Phase 3 Trial” means a human clinical trial of a Licensed Therapeutic Product in any country that would satisfy the requirements of 21 C.F.R. § 312.21(c).  For clarity, a trial called a Phase 2/3 trial shall be considered a Phase 3 trial if it satisfies the requirements of 21 C.F.R. § 312.21(c).

1.77“Pre-MCB Support” is defined in Section 3.1.2.

1.78“Product Infringement” is defined in Section 9.3.1.

1.79“Project Leader” is defined in Section 2.1.

1.80“Prosecution” means, with respect to a Patent, preparing, filing, prosecuting and maintaining such Patent, including any interference and opposition proceedings, reissue, post-grant reviews, inter partes review, re-examination and applications for patent term extensions, and all appeals or petitions to any agency, board or court related to any of the foregoing. When used as a verb, “Prosecute” means to engage in Prosecution.

1.81“Quarter” means the respective periods of three consecutive calendar months ending on March 31, June 30, September 30 and December 31.

1.82“Receiving Party” is defined in Section 8.1.

1.83“Regulatory Approval” means, with respect to a Licensed Product in any country or jurisdiction, the approvals by the applicable Regulatory Authority in such country or jurisdiction (other than pricing approvals) necessary for the commercialization of such Licensed Product.

1.84“Regulatory Authority” means any applicable governmental regulatory authority involved in granting approvals for the marketing and sale of a Licensed Product, including the FDA and the EMA.

 

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1.85“Research Plan” means the research plan attached to this Agreement as Exhibit A, as such plan may be amended by the Parties from time to time in accordance with Section 3.1.1. 

1.86 “Research Term” means the duration of the R&D Program as defined in the Research Plan, as may be extended pursuant to Section 3.1.3.

1.87“Restricted Antigen” means the antigens listed in Exhibit C of this Agreement.

1.88“Royalty Term” is defined in Section 7.3.2.

1.89“R&D Program” is defined in Section 3.1.1.

1.90 “Term” is defined in Section 11.1.

1.91“Territory” means worldwide.

1.92“Therapeutic Field” means the treatment, palliation or control of any disease, disorder or condition in humans.

1.93“Third Party” means any Person other than FivePrime, INBRX and their respective Affiliates.

1.94“Tumor Type” is defined in Section 7.2.3.

1.95“U.S.” or “United States” means the United States of America and all of its territories and possessions.

1.96“Valid Claim” means, with respect to any country: (a) a claim in an issued INBRX Patent that has not: (i) expired or been canceled; (ii) been irretrievably abandoned, revoked, declared invalid or unenforceable by an unreversed and unappealable or unappealed decision of a court or other appropriate body of competent jurisdiction in such country; or (iii) been admitted by INBRX to be invalid or unenforceable through reissue, disclaimer or otherwise; or (b) a claim under any application for an INBRX Patent that has been pending in a country for *** or less from the first to occur of (i) the date that such application enters into a national phase in such country, or (ii) the date of the first direct filing of such application in such country and, in any case, which has not been canceled, withdrawn from consideration, finally determined to be unallowable by the applicable governmental authority or court for whatever reason (and from which no appeal is or can be taken), or abandoned.

1.97“Year” means a successive period of 12 calendar months commencing on January 1 and ending on December 31.

 

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2.Governance. 

2.1Project Leaders. The Parties shall each appoint a project leader (each, a “Project Leader”) who is responsible for coordinating the day-to-day performance of the Research Plan under the oversight of the JRC.  Each Party's Project Leader shall be a member of such Party’s internal project team that is responsible for the day-to-day performance of the Research Plan.  The Project Leaders shall make decisions on day-to-day operational matters in accordance with the Research Plan and otherwise coordinate the conduct of activities related to the Research Plan.  The Project Leaders shall serve as the main points of contact through which the Parties will routinely share operational information regarding performance of the Research Plan, all in accordance with the terms of this Agreement.  The Project Leaders will communicate monthly, or otherwise as frequently as reasonably requested by either Party, by video or audio teleconference.

2.2Joint Research Committee.  The Parties shall establish a joint research committee to oversee the Research Plan activities during the Research Term (the “JRC”).

2.2.1.Composition of the JRC.  The JRC shall consist of at least *** representative from each Party, but not more than ***representatives of any Party.  Each Party shall designate its initial JRC representative(s) within *** after the Effective Date.  A Party may change one or more of its JRC representative(s) from time to time in its sole discretion, effective upon written notice (which notice a Party may provide by email in accordance with Section 13.4) to the other Party of such change.  A Party’s representative(s) to the JRC shall have appropriate technical credentials, experience and knowledge and ongoing familiarity with the Research Plan, and shall have supervisory responsibilities within such Party’s organization with respect to performance of the Research Plan.  The Parties’ respective Project Leaders will be responsible for managing the communications and meetings of the JRC.

2.2.2.JRC Meetings.  The JRC shall meet at least once every *** during the Research Term in accordance with a schedule agreed to by the Parties.  The JRC may meet in person or by means of teleconference, Internet conference, videoconference or other similar communications equipment.  A reasonable number of additional representatives of a Party may attend meetings of the JRC in a non-voting capacity with the prior written consent of the other Party.  All representatives to the JRC shall be subject to confidentiality and nonuse restrictions substantively similar to those set forth herein. Each Party shall bear its own travel, lodging and telecommunication expenses related to participation in and attendance at such meetings by its JRC or additional representatives.

2.2.3.Scope of JRC Oversight.  Except as otherwise provided herein, the JRC shall:

 

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(a)provide oversight and coordinate the activities of the Parties under the Research Plan, including any approved Additional Support Plan; 

(b)monitor the Research Plan for the R&D Program;

(c)review any proposed amendments to the Research Plan, subject to the final paragraph of this Section 2.2.3 and Section 3.1.1;

(d)review data generated in the course of the Research Plan by the Parties, including with respect to assay development and results of screening, and to consider and advise on any technical issues that arise in the course of the Research Plan;

(e)review written updates submitted to the JRC pursuant to Section 3.4;

(f)monitor the Parties’ progress under the Research Plan, including any approved Additional Support Plan; and

(g)perform such other obligations as are necessary for the conduct of the Research Plan, subject to Section 2.2.3, Section 2.3, and Section 3.1.1.

For clarity, the JRC shall not have any authority beyond the specific matters set forth in this Section 2.2.3, including not having the authority to: (i) obligate FivePrime to exercise the Option with respect to any Multi-Specific Compound under Section 4.2; (ii) amend this Agreement, waive any breach of either Party under this Agreement, or terminate this Agreement; (iii) make decisions or take any actions that are inconsistent with the terms of this Agreement; or (iv) amend the Research Plan.

2.3Decisions of the JRC.  Except as set forth in this Section 2.3, the JRC shall act with mutual consent of the Parties.  In the event of a disagreement regarding any matter within the JRC’s authority under Section 2.2.3(c), either Party may refer such matter to the *** of the Parties (or the designees of the respective ***), who shall discuss such matter in good faith.  If the *** or their designees, if applicable, are unable to resolve the matter within *** after the date of such referral, then either Party may elect to resolve such matter as a Dispute pursuant to Section 13.6.

2.4Oversight Period of JRC.  The activities to be performed by the JRC shall solely relate to governance under this Agreement and shall not involve the delivery of services.  The JRC shall exist until the expiration of the Research Term.

3.R&D Program.

 

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3.1Overview. 

3.1.1.R&D Program.   INBRX shall carry out a research and development program in accordance with the Research Plan, including any approved Additional Support Plan, to create and characterize Compounds (the “R&D Program”).  The Research Plan in effect as of the Effective Date is attached hereto as Exhibit A.  Any amendment or update to the Research Plan, whether proposed by the by the JRC pursuant to Section 2.2.3 or otherwise, shall require the agreement of the Parties to be effective.  For clarity, the JRC is not authorized to approve any amendment to the Research Plan.

3.1.2.Goals and Responsibilities.  The R&D Program, as set forth in the Research Plan, includes certain research and early preclinical development studies and work on Compounds through the delivery of the final research cell bank, including lead candidate maturation, selection and characterization, cell line development, non-GLP toxicology testing in cynomolgus monkeys and pharmacokinetic (PK) testing (collectively, the “Pre-MCB Support”), in each case as described in more detail in Exhibit A.  If FivePrime wishes INBRX to perform research and preclinical development support under the Research Plan beyond the Pre-MCB Support  (“Additional Support”), then the Parties will work in good faith through the JRC to agree on a written description of such Additional Support, including a detailed scope of work, timeline and budget (each such description, an “Additional Support Plan”).  Each Additional Support Plan shall require the written agreement of the Parties to become effective, upon which agreement such Additional Support Plan shall become part of the Research Plan.

3.1.3.Research Term.  The R&D Program shall start upon the Effective Date and be carried out until INBRX produces a final research cell bank and delivers to FivePrime the material and information described in more detail in the Research Plan (such period, the “Research Term”).  INBRX shall not be obligated to continue to conduct the R&D Program beyond the expiration of the Research Term or beyond the requirements of Section 3.3 unless otherwise agreed in writing by the Parties.

3.1.4.Annual Progress Reports.  Within *** after each anniversary of the Effective Date, FivePrime shall provide INBRX with a report summarizing its research, development and commercialization activities during such Year with respect to Licensed Products, which report may be presented in written form or orally in person or through a video or telephone conference between the Parties.  Upon request from INBRX, FivePrime shall provide such additional information and documentation as reasonably necessary for INBRX to verify FivePrime’s satisfaction of the diligence obligation set forth in Section 6.1.

3.2INBRX Staffing and Costs.  During the Research Term, INBRX shall, consistent with Section 3.3, determine and maintain appropriate INBRX staffing levels as are necessary to 

 

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timely perform its activities and obligations under the Research Plan.  INBRX shall be fully responsible for its research efforts and shall ***.  For Additional Support provided by INBRX, FivePrime shall pay INBRX the following amounts: (i) $*** per FTE (prorated for any partial FTE); plus (ii) the *** incurred by INBRX in obtaining any material or services that were reasonably incurred by or on behalf of INBRX for such Additional Support (such amounts, collectively, the “Additional Support Payments”); provided, that FivePrime shall have no obligation, absent its prior approval, to pay any Additional Support Payment amounts that exceed, by ***, the budget contained in the applicable Additional Support Plan for such activity.  INBRX shall deliver to FivePrime a reasonably detailed invoice within *** after the end of each Quarter that includes all Additional Support Payment amounts that arose during such Quarter, together with reasonable documentation for all amounts that INBRX paid to third parties.  FivePrime shall pay all undisputed Additional Support Payments within *** after the delivery of such invoice to FivePrime. 

3.3Efforts of INBRX.  INBRX shall use Commercially Reasonable Efforts to conduct, in accordance with the terms of this Agreement, the work described in the Research Plan.

3.4Reports to JRC.  During the Research Term, INBRX shall, prior to or at each JRC Meeting, provide the JRC with a written update summarizing the status of activities under the Research Plan, including any approved Additional Support Plan, and results thereof.

3.5Records; Sharing of Data.

3.5.1.Records.  INBRX shall maintain complete and accurate records of all work conducted pursuant to the R&D Program and all results, data (including QC/QA review) and developments therefrom.  Such records shall be in sufficient detail and in good scientific manner appropriate for accounting, patent and regulatory filing purposes (i.e., IND, annual reports, BLAs, etc.).

3.5.2.Sharing of Data and Results.  INBRX shall, as reasonably requested by FivePrime, share the results of the research performed under the Research Plan and the Additional Support Plan, if applicable, with FivePrime in a timely manner.  In addition, INBRX shall promptly notify FivePrime of any delays in timelines or deliverables that occur under the Research Plan, including any approved Additional Support Plan.

3.6Third Party Contractors.  INBRX may, at its own expense, engage and utilize the service of Third Party contractors (each, a “Contractor”) in connection with the performance of its obligations under the Research Plan and the Additional Support Plan, if applicable; provided that (i) no such Contractor is under investigation by the FDA or any other government 

 

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agency or body for debarment and is not presently and has not in the last five years been debarred pursuant to 21 U.S.C. §335a, (ii) each such Contractor enters into an agreement with INBRX, with obligations of confidentiality and non-use substantively similar to those in this Agreement, and (iii) each such engagement and utilization is otherwise consistent with the terms of this Agreement. 

3.7Materials.

3.7.1.Ownership.  The Parties acknowledge and agree that any Materials of INBRX that INBRX uses in connection with the performance of the Research Plan, together with all progeny and derivatives thereof, except as otherwise expressly provided under this Agreement, are and shall remain the property of INBRX.

3.7.2.Transfer of Know-How and Materials.  

(a)INBRX shall use commercially reasonable efforts to transfer to FivePrime the key deliverables and other Materials identified in the Research Plan, in accordance with the Research Plan or on timing otherwise coordinated by the JRC.  In addition, FivePrime may, from time to time, through the JRC, reasonably request that INBRX provide FivePrime with reasonable, sample quantities of other available Materials reasonably necessary for evaluating progress under the Research Plan, and INBRX shall use commercially reasonable efforts to transfer such reasonable quantities of available Materials (at FivePrime’s expense) promptly following such request (or on timing otherwise coordinated by the JRC).  FivePrime shall use the key deliverables and other Materials provided under this Agreement consistent with the Licenses granted to FivePrime under this Agreement.  All Materials supplied by INBRX, and any progeny or derivatives thereof that are generated by or on behalf of FivePrime, are and shall remain the sole and exclusive property of INBRX, except as otherwise expressly provided under this Agreement. 

(b)During the Research Term, INBRX shall, through the JRC, provide FivePrime with all INBRX Know-How, other than Materials which shall be provided as above, reasonably necessary for FivePrime to perform its obligations under this Agreement or exercise its rights under the License.  Following the Research Term, INBRX shall, upon the reasonable request of FivePrime, provide FivePrime with all INBRX Know-How, other than Materials which shall be provided as above, reasonably necessary for FivePrime to perform its obligations under this Agreement or exercise its rights under the License; provided that INBRX shall not be obligated to provide FivePrime with any Materials or other tangible materials, except to the extent expressly set forth in the Research Plan or this Agreement.

 

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3.7.3.Warranty Disclaimer Regarding Materials.  INBRX hereby represents that it Controls and has the rights and authority to provide the relevant Materials that INBRX supplies to FivePrime under this Agreement.  EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, THE MATERIALS SUPPLIED BY INBRX PURSUANT TO THIS SECTION 3 ARE OTHERWISE SUPPLIED IN “AS IS” CONDITION WITH NO WARRANTY, EXPRESS, IMPLIED OR STATUTORY, INCLUDING WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, EXCLUSIVITY, OR FITNESS FOR A PARTICULAR PURPOSE.  ANY MATERIAL DELIVERED PURSUANT TO THIS AGREEMENT IS UNDERSTOOD TO BE EXPERIMENTAL IN NATURE AND MAY HAVE HAZARDOUS PROPERTIES.  FIVEPRIME WILL HANDLE AND USE THE MATERIAL ACCORDINGLY. 

3.7.4.Restrictive Covenants on Materials.   FivePrime shall:

(a)Use the Materials received from INBRX (i) solely for, and in compliance with, the Research Plan, and (ii) in compliance with the Licenses;

(b)Use the Materials received from INBRX in compliance with applicable Laws; and

(c)Not use the Materials received from INBRX in human subjects.

FivePrime further agrees that all of the foregoing restrictions shall also apply to all progeny or derivatives of Materials it receives from INBRX that are generated by or on behalf of FivePrime.

3.7.5.Allocation of Liability.  FivePrime assumes all liability for damages that may arise from its handling, use, storage or disposal of the Materials.  INBRX shall not be liable to FivePrime for any loss, claim or demand made by FivePrime, or made against INBRX by any Third Party, due to or arising from the handling, use, storage or disposal by FivePrime of the Materials, except to the extent caused by INBRX’s (i) breach of this Agreement, (ii) gross negligence or willful misconduct or (iii) failure to abide by any applicable Law or regulation.

3.7.6.Use of Materials after the Research Term.  Subject to Section 11.5.1(d), for so long as FivePrime retains a License to Materials and INBRX Know-How, FivePrime shall have the right to retain INHBRX Know-How and Materials, including the final research cell bank, for use in compliance with the Licenses.

4.Multi-Specific Compounds

 

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4.1Restrictions on Multi-Specific Compounds.  During the Term, INBRX shall not, either itself or through a Third Party, distribute, sell, or offer for sale any Multi-Specific Compound that specifically binds to and modulates any of the Restricted Antigens. 

4.2Option to License Multi-Specific Compounds.  On a Multi-Specific Compound-by-Multi-Specific Compound basis, INBRX hereby grants FivePrime an exclusive option, exercisable as set forth below, to obtain a worldwide, exclusive, sublicensable license to make, have made, distribute, use, sell, offer for sale, export or import such Multi-Specific Compound and therapeutic products containing such Multi-Specific Compound and Derivatives thereof for use in the Field of Use (the “Option”).

With respect to each Multi-Specific Compound, INBRX shall provide FivePrime with written notice, in accordance with Section 13.4, promptly but in no event later than *** following: (a) *** GMP production campaign for such Multi-Specific Compound (the “GMP Initiation Notice”); and (b) if FivePrime has not exercised the Option for the Multi-Specific Compound based on a GMP Initiation Notice, prior to dosing the first patient in a Phase 2 Trial of a pharmaceutical product containing such Multi-Specific Compound (the “Phase 2 Notice”).

 With respect to each Multi-Specific Compound, FivePrime may only exercise the Option as follows:

(a)by, within *** of receipt of a GMP Initiation Notice for such Multi-Specific Compound: (A) delivering written notice to INBRX of such exercise, and (B) paying INBRX a fee of $15,000,000; or

(b)by, within *** of receipt of a Phase 2 Notice for such Multi-Specific Compound (A) delivering written notice to INBRX of such exercise, and (B) paying INBRX a fee of $30,000,000.

Upon FivePrime’s exercise of an Option in accordance with the foregoing with respect to a Multi-Specific Compound, such Multi-Specific Compound shall be considered a “Licensed Multi-Specific Compound,” and each pharmaceutical product containing such Licensed Multi-Specific Compound or any Derivative thereof shall be considered a “Licensed Multi-Specific Product” and automatically be deemed a Licensed Therapeutic Product or Licensed Diagnostic Product, as applicable, for all purposes under this Agreement, including with respect to the license grants set forth in Section 5 and the payment obligations set forth in Section 7.

If FivePrime does not exercise an Option for a particular Multi-Specific Compound before the first patient is dosed in a Phase 2 Trial of a Multi-Specific Compound, provided that INBRX timely provided notice of such event pursuant to this Section 4.2, then INBRX shall retain all 

 

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rights to such Multi-Specific Compound and shall be free to further develop and commercialize such Multi-Specific Compound either alone or with or through Third Parties without any further obligation to FivePrime under this Agreement. 

5.License Grants.

5.1License Grant to FivePrime.

5.1.1.Exclusive License Grants.  Subject to the terms and conditions of this Agreement, INBRX hereby grants to FivePrime an exclusive, royalty-bearing (as set forth in Section 7) license, with the right to grant sublicenses in accordance with Section 5.1.2, under the Licensed IP to:

(a)make, have made, use, export and import, but not distribute, sell or offer for sale, Compounds and Licensed Multi-Specific Compounds in the Territory for the sole purpose of developing Licensed Diagnostic Products for use in the Diagnostic Field and Licensed Therapeutic Products for use in the Therapeutic Field;

(b)make, have made, distribute, use, sell, offer for sale, export or import Licensed Therapeutics Products in the Territory for use in the Therapeutic Field; and

(c)make, have made, distribute, use, sell, offer for sale, export or import Licensed Diagnostic Products in the Territory for use in the Diagnostic Field.

(each of (a), (b) and (c) above, a “License”).

The License granted in (b) and (c) above include the right to make, use, sell and offer for sale Licensed Diagnostic Products and Licensed Therapeutic Products as part of a Combination Product, but does not include the grant of any right by INBRX or its Affiliates to make, use, sell offer for sale, import or export any additional therapeutically active product or other non-therapeutic product or composition in such Combination Product that is not a Compound.

The License granted under Section 5.1.1 shall not preclude INBRX from researching, developing, making, using, importing and exporting a Multi-Specific Compound, including researching, developing, making, using, importing and exporting Compounds for such purpose, unless and until such Multi-Specific Compound is the subject of an Option timely exercised by FivePrime and becomes a Licensed Diagnostic Product and/or Licensed Therapeutic Product within the scope of the License.

5.1.2.Right to Sublicense.  FivePrime may grant sublicenses (including the 

 

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right to grant further sublicenses) under the Licenses it receives under Section 5.1.1 to any of its Affiliates or any Third Party without the prior written consent of INBRX, provided that: (i) each sublicense is in writing and its terms are consistent with the terms and conditions of this Agreement; (ii) FivePrime shall be responsible to INBRX for the performance of its sublicensees; (iii) any act or omission by a sublicensee that would be a breach of this Agreement had it been performed (or not performed) by FivePrime shall be treated as a breach of this Agreement by FivePrime; and (iv) upon request, FivePrime will provide INBRX a copy of any such sublicense, at FivePrime’s option reasonably redacted, to permit INBRX to assess such sublicenses compliance with the terms and conditions of this Agreement.  FivePrime shall remain primarily responsible to INBRX for its obligations, including payment obligations pursuant to Section 7, under this Agreement.   

5.2Limited License Grant-Back to INBRX.  Subject to the terms and conditions of this Agreement, FivePrime hereby grants INBRX a limited, royalty-free, worldwide non-exclusive research license, without the right to grant sublicenses (except to Contractors in accordance with Section 3.6), under the Licensed IP and under FivePrime’s interest in any Five Prime Collaboration Know-How and Five Prime Collaboration Patents solely to perform INBRX’s obligations under the Research Plan, including any approved Additional Support Plan, including the Pre-MCB Support and any Additional Support agreed upon in accordance with Section 3.1.2.

5.3No Implied Licenses.  Except as specifically set forth in this Agreement, neither Party shall acquire any license, intellectual property interest or other rights, by implication or otherwise, in any Know-How or under any Patents Controlled by the other Party or its Affiliates.

5.4Negative Covenants.

5.4.1.Covenants by FivePrime.  FivePrime hereby covenants that it shall not use or practice any Licensed IP for any purposes other than those purposes expressly permitted in Section 5.1 or as may otherwise expressly be permitted in this Agreement.

5.4.2.Covenants by INBRX.  During the Term, INBRX shall not grant, use, assign, transfer or convey to any Third Party any rights under the Licensed IP inconsistent with the Licenses or Option granted to FivePrime.

6.Development, Commercialization and Manufacturing of Licensed Products.

6.1Diligence.  FivePrime shall use Commercially Reasonable Efforts to (i) develop and seek Regulatory Approvals for Licensed Therapeutic Products, and (ii) commercialize such approved Licensed Therapeutic Products in the Territory.

 

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6.2Responsibilities of FivePrime.  As between the Parties, FivePrime shall, subject to the terms and conditions of this Agreement and INBRX’s rights set forth in the last paragraph of Section 5.1.1 and any other rights in Licensed IP not Licensed to FivePrime hereunder, have the sole right, at its expense to clinically develop and manufacture the Compounds and Licensed Products and commercialize and manufacture Licensed Products in the Territory.  Without limiting the foregoing, as between the Parties, FivePrime shall have the sole right at its cost and expense to conduct (a) all GMP manufacturing activities for clinical and commercial supply of Licensed Products, (b) all IND-enabling studies of Licensed Therapeutic Products, and (c) all clinical development and commercialization of Licensed Products. 

7.Payments; Royalties and Reports.

7.1Upfront License Fee.  Within *** of the Effective Date, FivePrime shall pay INBRX a non-refundable, non-creditable payment in the amount of Ten Million Dollars ($10,000,000).

7.2Milestone Payments for Licensed Therapeutic Products.

7.2.1.General.  For each Licensed Therapeutic Product, FivePrime shall pay to INBRX, in accordance with this Section 7.2, the non-refundable, non-creditable milestone payments set forth in Section 7.2.3 and 7.2.4 upon the achievement of the corresponding milestone event by or on behalf of FivePrime, its Affiliates or any of their sublicensees.  All payments shall be made within *** following the milestone event.  For clarity, each milestone payment set forth in Section 7.2.3 and 7.2.4 shall be payable only once for each Licensed Product upon the first achievement of each relevant milestone with respect to such Licensed Product.

7.2.2.Form of Payment.  At FivePrime’s election, FivePrime may pay all or any portion of a milestone payment described in Section 7.2.3 in cash or in shares of Common Stock having at least an equivalent value based on the weighted-average closing price for the prior *** from the date of the milestone event.  Such shares of Common Stock will be issued pursuant to a Stock Purchase Agreement substantially in the form of Exhibit D hereto.  Any shares of Common Stock issued in consideration of the achievement of a milestone shall be registered for resale under the Securities Act of 1933, as amended (the “Securities Act”), as provided in the Stock Purchase Agreement.  FivePrime shall notify INBRX, in accordance with Section 13.4, by the date that is *** after the date a relevant milestone occurs if FivePrime elects to pay any portion of such milestone payment in shares of Common Stock (the “Election Notice”); provided, that FivePrime is not permitted to pay any Commercial Milestone payment under Section 7.2.4 in shares of Common Stock without INBRX’s prior written consent, which consent shall be within INBRX’s sole discretion; provided further, that FivePrime is not 

 

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permitted to pay any milestone payment in shares of Common Stock if it is not eligible to register such shares under Form S-3 pursuant to Rule 415 promulgated under the Securities Act; provided further, that if INBRX provides FivePrime written notice within *** after receiving an Election Notice that INBRX has a bona fide belief that, immediately following such payment in shares of Common Stock, INBRX would own greater than ***% of the number of shares of Common Stock that would be then-outstanding one Business Day after such payment (which number of shares FivePrime shall provide INBRX with each Election Notice), FivePrime shall pay such portion of such milestone payment in cash rather than in shares of Common Stock; provided further, that if FivePrime provides INBRX with an Election Notice, INBRX shall not, prior to issue of such shares,  enter into any short sale of any shares of Common Stock, as defined in Regulation SHO promulgated under the Securities Exchange Act of 1934, as amended. 

7.2.3.Event Milestones and Payment Amounts.  FivePrime shall, in connection with the first occurrence of each milestone event listed below with respect to each Licensed Therapeutic Product, pay INBRX the milestone payments listed below in accordance with this Section 7.2.  Each such payment shall be non-refundable and non-creditable.

 

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Event per Licensed Therapeutic Product
	
Milestone Payment

	
DEVELOPMENT
	
 

	
***
	
$***

	
*** 
	
$***

	
*** 
	
$***

	
***
	
$***

	
***
	
$***

	
***
	
$***

	
 

REGULATORY
	
Non-Breakthrough Status
	
Breakthrough Status in U.S.

	
***
	
***
	
$***

	
***
	
***
	
$***

	
***
	
$***
	
$***

	
***
	
$***

	
***
	
$***
	
$***

	
***
	
$***

	
***
	
$***
	
$***

	
***
	
$***

 

The term “Filing” as used in the table above means the acceptance of filing of the applicable application by the applicable Regulatory Authority.

The term “Initiation” as used in the table above with respect to a Clinical Trial means the dosing of the first patient enrolled in such Clinical Trial.

The term “Tumor Type” as used in the table above with respect to a Clinical Trial means a cancer of a particular cell type in a particular tissue (including blood) or an organ system , e.g., non-small cell lung cancer or B-cell lymphoma.

 

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The amount payable with respect to the achievement of certain of the milestones would be determined based on whether the Licensed Therapeutic Product has achieved Breakthrough Status in the United States.  No payment would be made for a milestone that is not achieved (except for skipped milestones pursuant to Section 7.2.6(a)).

7.2.4.Commercial Milestones.  For each Licensed Therapeutic Product, FivePrime shall pay to INBRX the following sales-based milestone payments.

			
	
Cumulative Net Sales Amount per Licensed Therapeutic Product
	
Non-Breakthrough Status 
	
Breakthrough Status

	
$*** Cumulative Net Sales
	
$***
	
$***

	
$*** Cumulative Net Sales
	
$***
	
$***

	
$***Cumulative Net Sales
	
$***
	
$***

 

For clarity, the sales-based milestone payments set forth in the table above shall be calculated separately for each Licensed Therapeutic Product upon the first achievement of each sales milestone by such Licensed Therapeutic Product.

By way of example and not limitation, if the Cumulative Net Sales for a Licensed Therapeutic Product (under a non-Breakthrough Status) reaches $*** on January 1, 2020, then FivePrime would have the obligation to pay $*** to INBRX, and if the Cumulative Net Sales for such Licensed Therapeutic Product subsequently reached $*** on January 1, 2025, then FivePrime would have the obligation to pay $*** to INBRX.

7.2.5.Notice of Event Milestone Achievement.  FivePrime shall notify INBRX in writing within *** following the achievement of each milestone event set forth in Section 7.2.3 and Section 7.2.4, and FivePrime shall pay INBRX the corresponding milestone payment (i) for milestones under Section 7.2.3, within *** following the achievement of each such milestone event and (ii) for milestones under Section 7.2.4, within *** following the end of the Quarter during which such milestone is achieved.

7.2.6.Additional Milestone Event Matters.

(a)Skipped Milestone Events.  If any milestone payment triggering event in Section 7.2.3 is skipped for a particular Licensed Therapeutic Product, the milestone payment that would otherwise have been due for such skipped milestone payment triggering event shall be due and payable on the occurrence of the next to occur milestone payment triggering event for such Licensed Therapeutic Product.  For example, 

 

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if FivePrime conducts a Phase 1 Trial for a Licensed Therapeutic Product, and then chooses not to conduct a Phase 2 Trial and instead begins a Phase 3 Trial for such Licensed Therapeutic Product, both milestone payments associated with the Initiation of a Phase 2 Trial for the Licensed Therapeutic Product and the Initiation of a Phase 3 Trial for the Licensed Therapeutic Product would be due at the Initiation of the Phase 3 Trial. 

(b)Back-up Products.  If a milestone payment is paid with respect to the achievement of a milestone by a Licensed Therapeutic Product, the achievement of the same milestone by a Licensed Therapeutic Product that is a Back-up Product to the original Licensed Therapeutic Product would not obligate FivePrime to again pay such milestone payment.  For the purpose of the previous sentence, a “Back-up Product” means a Licensed Therapeutic Product that FivePrime substitutes for a Licensed Therapeutic Product that FivePrime abandons during development due to lack of production scalability, poor pharmacokinetics, lack of sufficient pharmacodynamic effects, insufficient efficacy, poor tolerability, safety concerns or toxicity.

(c)Different Dosage and Delivery Forms.  If a milestone payment is paid with respect to the achievement of a certain milestone by a Licensed Therapeutic Product, the achievement of the same milestone by a different dosage or delivery form of the same Licensed Therapeutic Product shall not obligate FivePrime to make payment on the same milestone with such different dosage or delivery form of the same Licensed Therapeutic Product.

7.3Royalties.

7.3.1.Royalties for Licensed Products.

(a)General.  FivePrime shall pay INBRX, on a Quarterly basis, royalties on Net Sales during such Quarter, calculated on a Licensed Product-by-Licensed Product and country-by-country basis, as set forth in this Section 7.3, during the applicable Royalty Term.

(b)Licensed Therapeutic Products.  Subject to applicable deductions in accordance with Section 7.3.3, FivePrime shall pay to INBRX a royalty on Net Sales during the Royalty Term of each Licensed Therapeutic Product equal to Net Sales of such Licensed Therapeutic Product multiplied by the applicable royalty rate below:

		
	
Net Sales of Licensed Therapeutic Products per Year
	
Royalty Rate

	
Aggregate worldwide annual Net Sales less than or equal to $***
	
***%

 

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Net Sales of Licensed Therapeutic Products per Year
	
Royalty Rate

	
Aggregate worldwide annual Net Sales greater than $***
	
***%

 

(c)Licensed Diagnostic Products.  FivePrime shall pay to INBRX a royalty on Net Sales during the Royalty Term of each Licensed Diagnostic Product equal to the Net Sales of such Licensed Diagnostic Product multiplied by ***.

7.3.2.Royalty Term.  FivePrime’s royalty payment obligation, on a Licensed Product-by-Licensed Product and country-by-country basis, shall commence upon the First Commercial Sale of such Licensed Product in such country, and shall expire upon the later of: (i) the date there is no longer any Valid Claim within the INBRX Patents that would, but for ownership of or a license under such INBRX Patents, be infringed by the making, using, selling, offering for sale, import or export of such Licensed Product in such country, and (ii) the date that is twelve (12) years after the First Commercial Sale of such Licensed Product in such country (such period, the “Royalty Term”).  After expiration of the Royalty Term, all licenses granted by INBRX to FivePrime under this Agreement would be deemed to be fully paid-up royalty-free licenses.

7.3.3.Royalty Reductions for Licensed Therapeutic Products.

(a)Required Licenses.  If, in FivePrime’s judgment in its good faith, reasonable discretion based on legal advice, one or more Patents owned or controlled by a Third Party that FivePrime reasonably believes are valid and enforceable (i) ***, and (ii) ***; and if FivePrime obtains a license to such Patents (any such licenses, “Required Licenses”), then, subject to Section 7.3.3(c), *** of royalty payments actually paid under such Required Licenses by FivePrime on sale of such Licensed Therapeutic Product in a country for a Quarter shall be creditable against the royalty payments due to INBRX by FivePrime with respect to the sale of such Licensed Therapeutic Products in such country.

(b)Generic/Biosimilar.  If, during the Royalty Term in a particular country, there are one or more products being sold in such country that are a Biosimilar with respect to a Licensed Therapeutic Product, then, subject to Section 7.3.3(c), the royalties payable under this Section 7.3 with respect to such Licensed Therapeutic Product in such country shall be reduced by ***.

(c)Royalty Floor.  Notwithstanding anything to the contrary in the foregoing provisions of this Section 7.3.3 or this Agreement, including as a result of 

 

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either or both of the foregoing reductions, in no event shall the total amount of royalties owed with respect to a Licensed Therapeutic Product in a Quarter in a country equal less than *** of such Licensed Therapeutic Product in such Quarter in such country. 

7.3.4.Reports; Payment of Royalty.  During the Term, and following the First Commercial Sale of any Licensed Product, FivePrime shall within *** after the end of each Quarter furnish to INBRX a written report for such Quarter showing, on a Licensed Product-by-Licensed Product basis, the gross sales of such Licensed Product(s) during such Quarter, all deductions and adjustments in the calculation of such Net Sales, and the Net Sales and royalties due during such Quarter.  FivePrime shall pay all royalties due under this Agreement with respect to a Quarter within *** after the end of such Quarter.

7.3.5.Payment Date.  If FivePrime fails to pay any undisputed Additional Support Payments, fees or any milestone payments, royalties or any other payments according to this Agreement in full on or before the due date, interest on such amount shall accrue from the due date at a rate of interest of ***% above the three months LIBOR (as published in the Wall Street Journal, Eastern U.S. Edition on the due date) until the date such payment is made.

7.3.6.Records.  FivePrime shall keep complete and accurate records for at least *** for each reporting period in which sales of Licensed Products occur, including records showing sales of Licensed Products and applicable deductions, in sufficient detail to enable the amounts payable hereunder (including royalties and milestones) and reports provided under Section 7.3.4 to be determined and verified.

7.3.7.Audits.

(a)Upon *** prior written request of INBRX and not more than *** in each Year, FivePrime shall permit an independent certified public accounting firm of nationally recognized standing selected by INBRX and reasonably acceptable to FivePrime to have access during normal business hours to such of the records of FivePrime as may be reasonably necessary to verify the accuracy of royalty reports hereunder for any year ending not more than *** prior to the date of such request; provided that if INBRX has timely commenced an audit with respect to any earlier time period and such audit shall be pending or its results disputed, INBRX shall have continued access to the records of such earlier time period.  The accounting firm shall disclose to INBRX and FivePrime in writing whether the royalty reports are correct or incorrect, the amount of any royalty discrepancy, as well as the calculation of the foregoing.

(b)If such accounting firm identifies an underpayment made by 

 

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FivePrime during such period, FivePrime shall pay INBRX *** of the amount of such underpayment, plus applicable interest as set forth in Section 7.3.6, within *** of the date INBRX delivers to FivePrime such accounting firm’s written report so concluding, or as otherwise agreed upon in writing by the Parties.  INBRX shall pay the fees charged by such accounting firm; provided, however, if such audit uncovers an underpayment by FivePrime that exceeds *** of the total payment due for the period under audit, then FivePrime shall pay the fees of such accounting firm whether previously paid by INBRX or then due.  In the event that the accounting firm uncovers an overpayment by FivePrime, then FivePrime shall credit such overpayment against any royalty payments owing in the Quarter following the Quarter in which such audit was completed, and such future royalty payments to be adjusted accordingly on a carry-forward basis until such overpayment amount has been fully credited against future royalties owing to INBRX. 

(c)FivePrime shall include in each sublicense granted by it pursuant to this Agreement a provision requiring the sublicensee to make reports to FivePrime, to keep and maintain records of sales made pursuant to such sublicense and to grant access to such records by INBRX’s independent accountant to the same extent required of FivePrime under this Agreement.

(d)INBRX shall treat all financial information subject to review under this Section 7.3.7 or under any sublicense agreement in accordance with the confidentiality and non-use provisions of this Agreement.  Prior to commencing any audits under this Section 7.3.7 FivePrime may require the independent accounting firm to enter into a confidentiality agreement with FivePrime or its Affiliates or sublicensees, as applicable, with obligations of confidentiality and non-use with respect to such information substantively similar to those in this Agreement.

7.4Payment Method and Exchange Rate.  FivePrime shall pay all amounts due hereunder in Dollars by wire transfer of immediately available funds to the bank account INBRX designates in writing from time to time.  In the case of any amounts payable or receivable in a foreign currency, the Parties shall apply the spot rate of exchange in effect on the last day of the Quarter prior to which such amounts becomes payable or receivable, as published by Reuters.

7.5Withholding Tax.  Neither Party shall treat their relationship under this Agreement as a pass through entity for tax purposes.  All payments made under this Agreement shall be free and clear of any and all taxes, duties, levies, fees or other charges, except for withholding taxes.  If applicable Law requires withholding of any taxes imposed upon INBRX on account of any royalties paid under this Agreement, FivePrime shall withhold such taxes, to the extent paid (and not refunded or reimbursed), as required by such Law from such remittable royalty and timely pay such withheld taxes to the proper tax authorities.  FivePrime shall 

 

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promptly secure official receipts of payment of any withholding tax and send such receipts to INBRX as evidence of such payment.  FivePrime shall reasonably cooperate with INBRX in the event INBRX claims exemption from such withholding or seeks deductions under any double taxation or other similar treaty or agreement from time to time in force. 

8.Confidentiality and Publication.

8.1Confidential Information.  “Confidential Information” means any data, information or material disclosed by or on behalf of one Party (the “Disclosing Party”), whether in writing, visually, orally or in electronic or other medium, to the other Party or its designee (the “Receiving Party”) in connection with this Agreement.  Except with respect to disclosures expressly permitted herein, the terms of this Agreement shall be kept confidential by each Party.

8.2Nondisclosure Obligation.  Subject to Sections 8.3, 8.4, 8.5, and 8.6, unless the Disclosing Party provides prior written consent, the Receiving Party shall maintain in confidence all Confidential Information of the Disclosing Party, shall not disclose such Confidential Information to any Third Party and shall not use such Confidential Information for any purpose except to exercise such Party’s rights or fulfill its obligations under this Agreement.  The Receiving Party may disclose or otherwise provide access to the Disclosing Party’s Confidential Information to its and its Affiliates’ respective officers, directors, employees, agents, consultants, permitted (sub)licensees, and Contractors (“Agents”) as necessary in connection with the exercise of its rights or performance of its obligations under this Agreement; provided that such entities and individuals are subject to obligations of confidentiality and non-use substantively similar to those contained in this Agreement.  The Receiving Party shall be responsible for and liable under this Agreement with respect to any breach of its confidentiality and non-use obligations caused by its Agents.  

8.3Exceptions.  Information shall not be deemed Confidential Information of a Disclosing Party to the extent that the Receiving Party can demonstrate with competent proof that such information:

8.3.1.was known by the Receiving Party at the time of its receipt, without any obligations of confidentiality or non-use, and not through a prior disclosure by the Disclosing Party;

8.3.2.was in the public domain before its receipt from the Disclosing Party, or thereafter entered the public domain through no fault of the Receiving Party or with the consent of the Disclosing Party;

8.3.3.was subsequently disclosed to the Receiving Party, without any 

 

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obligations of confidentiality or non-use, by a Third Party whom the Receiving Party had a reasonable, good-faith belief had a right do so and who was not under an obligation of confidentiality with respect thereof to the Disclosing Party; or 

8.3.4.was developed by the Receiving Party independently of Confidential Information of the Disclosing Party and without the aid, application or use of the Disclosing Party’s Confidential Information, and such independent development can be properly documented by the contemporaneous written records of the Receiving Party.

Any combination of features or disclosures shall not be deemed to fall within the foregoing exclusions merely because individual features were published or available to the general public or in the rightful possession of the Receiving Party unless the combination itself and principle of operation were published or available to the general public or in the rightful possession of the Receiving Party.

8.4Permitted Disclosure.  Nothing in this Section 8 shall restrict the Receiving Party from disclosing Confidential Information of the Disclosing Party to the extent that such disclosure:

8.4.1.is made to governmental or other regulatory agencies in order to obtain patents addressed in this Agreement or to gain or maintain authorizations to conduct a clinical trials or to market Licensed Products, provided that such disclosure is limited to the extent reasonably necessary to obtain such patents or authorizations and the Receiving Party takes reasonable measures to obtain confidential treatment from regulatory agencies for such information;

8.4.2.is deemed necessary by the Receiving Party to be disclosed to attorneys, independent accountants, potential or actual acquirers, bona-fide potential or actual sublicensees, merger candidates or investors or venture capital firms, investment bankers or other financial institutions or investors, provided that, except with respect to the disclosure of pro forma financial projections, all such recipients agree to be bound by confidentiality and non-use obligations; or

8.4.3.is required to comply with applicable Law, valid order of a court of competent jurisdiction, or other judicial or administrative process of governmental authority or agency, provided that the Receiving Party shall (i) promptly inform the Disclosing Party of the disclosure that is being sought in order to provide the Disclosing Party, where possible, an opportunity to challenge, limit or receive confidential treatment for the required disclosure, (ii) upon request, reasonably cooperate with any efforts by the Disclosing Party to challenge, limit or receive confidential treatment for, the required disclosure, and (iii) only disclose the minimum 

 

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Confidential Information of the Disclosing Party necessary to comply, as reasonably determined by the Receiving Party’s legal counsel. 

INBRX acknowledges that FivePrime plans to (i) file a Current Report on Form 8-K (the “Current Report”) with the Securities and Exchange Commission (the “SEC”) within four (4) Business Days of the full execution and delivery of this Agreement, which Current Report shall include a description of the terms and conditions of this Agreement, and (ii) attach this Agreement, redacted of competitively sensitive information, as permitted by the SEC, as an exhibit to either an amendment to the Current Report or the Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2015 or September 30, 2015 that FivePrime will file with the SEC (such report the “Quarterly Report”). INBRX hereby consents to FivePrime’s filing of such Current Report and the attachment of this Agreement to an amendment to the Current Report or the Quarterly Report; provided that FivePrime allow INBRX at least *** to review the contents of such Current Report and a reasonable opportunity for INBRX to discuss with FivePrime any comments or proposed revisions it may have with respect to the information disclosed in such Current Report.

8.5Publicity.  Promptly following the Effective Date, the Parties will issue a joint public announcement of the execution of this Agreement in the form of the press release attached hereto as Exhibit E.  FivePrime shall have the right to publicly disclose information about the Licensed Products at its sole discretion, subject to FivePrime’s obligations set forth in Section 8.2 with respect to Confidential Information of INBRX.  Neither Party shall be obligated to obtain consent to re-issue or reiterate information previously specifically disclosed with the consent of the other Party. Notwithstanding the foregoing, INBRX shall have the right to disclose publicly: (a) the fact that it is engaged in a research collaboration with FivePrime under this Agreement; (b) the occurrence of any milestone event listed in Section 7.2.3 and the amount of the milestone payment for such milestone event under Section 7.2.3; (c) the occurrence of the First Commercial Sale of any Licensed Product; and (d) the amount of royalties received from FivePrime by INBRX under this Agreement.  For each such disclosure outlined in subsections (b) through (d) above, unless INBRX otherwise has the right to make such disclosure under this Section 8, INBRX shall provide FivePrime with a draft of such disclosure at least *** *** prior to its intended release for FivePrime’s review and comment, and INBRX shall consider in good faith the incorporation of any such comments from FivePrime.  If INBRX does not receive comments from FivePrime within *** after INBRX provides such draft to FivePrime, then INBRX shall have the right to make such disclosure without further delay.

8.6Publications.  FivePrime shall have the right to publish manuscripts, abstracts, presentations or other articles in scientific journals or at scientific conferences relating to any Licensed Product without obtaining the prior written consent of INBRX; provided, however, that (i) INBRX shall have the right to review and comment upon each such manuscript, abstract, 

 

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presentation or other article in which an INBRX employee is also named as an author, that contains any Confidential Information of INBRX, INBRX Collaboration Know-How, Joint Collaboration Know-How or INBRX Know-How and FivePrime shall consider such comments in good faith, and (ii) INBRX shall be noted, including at INBRX’s discretion, the name and, if applicable, logo of INBRX, on each such publication.  In the event that either Party desires to make a publication pursuant to this Section 8.6, such Party shall provide a copy of the proposed publication (including abstracts, or presentation to a journal, editor, meeting, seminar or other third party) to the other Party for comment at least *** prior to submission of such proposed manuscript for publication; the object being to prevent either the endangerment of applications for the protection of property rights by premature publications detrimental to their novelty or the disclosure of Confidential Information.  If, during the *** specified above the non-publishing Party notifies the other Party that a proposed publication contains patentable subject matter which requires protection, the non-publishing Party may by written notice delay the publication for a period of time not to exceed *** from the date of such written notice to seek appropriate patent protection for any subject matter in such publication that it reasonably believes may be patentable.  The publishing Party shall delete from the proposed publication prior to submission all Confidential Information of the non-publishing Party that the non-publishing Party identifies in good faith and requests to be deleted. 

8.7Survival.  Sections 8.1, 8.2, 8.3, and 8.4 shall survive the expiration or termination of this Agreement for a period of ***.

9.Intellectual Property.

9.1Ownership.

9.1.1.As between the Parties, subject to the License, INBRX will own all right, title and interest in and to the INBRX Collaboration Know-How and INBRX Collaboration Patents.

9.1.2.As between the Parties, subject to Section 5.2 and Section 11.5.1(b), FivePrime will own all right, title and interest in and to the FivePrime Collaboration Know-How and FivePrime Collaboration Patents.

9.1.3. Subject to the licenses granted by one Party to the other under this Agreement, each Party retains full ownership rights in and to such Joint Collaboration Know-How and Joint Collaboration Patents, for any field, and including the right to license and sublicense, and to freely exploit, transfer or encumber its ownership interest, without the consent of, or payment or accounting to, the other Party.  Subject to the terms of this Agreement, including Section 7, each Party hereby waives any right it may have under the laws of any 

 

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jurisdiction to require such payment, accounting, or consent with respect to Joint Collaboration Know-How and Joint Collaboration Patents. 

9.1.4.Any determination of inventorship with respect to any Collaboration Patent or Collaboration Know-How shall be determined in accordance with United States patent laws.

9.2Prosecution of Patents.

9.2.1.INBRX GITR Patents.  The Parties shall cooperate in the Prosecution, including decisions on the countries in which Prosecution should be conducted, of INBRX GITR Patents as set forth in this Section 9.2.1.  The Parties shall Prosecute the INBRX GITR Patents through outside counsel jointly selected by the Parties.  The Parties shall instruct the outside counsel to (i) keep the Parties informed regarding the Prosecution; (ii) promptly furnish to each Party a copy of all documents and material correspondence with respect to such Prosecution, including copies of correspondence with any patent office, foreign associates and outside counsel; and (iii) act on the Parties’ instructions relating to such Prosecution and Maintenance.  Each Party shall cooperate with and assist the other Party in the Prosecution of any INBRX GITR Patent, including (a) consulting with the other Party after receiving any substantial action or development in the Prosecution of such Patent and (b) making its relevant scientists and scientific records reasonably available as necessary to Prosecute such Patent.  In addition, each Party shall sign and deliver, or use reasonable efforts to have signed and delivered, at no charge to the other Party, all documents necessary in connection with such Prosecution.  FivePrime shall be responsible for the *** for Prosecution of the INBRX GITR Patents, ***.  Subject to the foregoing sentence, each Party shall be responsible for any costs it incurs in performing activities related to the Prosecution of the INBRX GITR Patents.  With respect to Prosecution of INBRX GITR Patents, the Parties shall attempt to make decisions by reaching agreement.  If the Parties cannot reach agreement regarding the Prosecution of an INBRX GITR Patent (a “Prosecution Disagreement”) within ***, such Prosecution Disagreement shall be referred to the Parties’ *** (or their designees) who shall attempt in good faith to resolve such Prosecution Disagreement over a period of ***.  If the *** (or their designees) cannot resolve such Prosecution Disagreement over such *** period, then, notwithstanding Section 13.6 or anything to the contrary in this Agreement, the final decision regarding such Prosecution Disagreement shall be made by FivePrime. Notwithstanding the time periods to resolve Prosecution Disagreements under this Section 9.2.1, if action is required regarding the Prosecution of an INBRX GITR Patent with respect to which a Prosecution Disagreement has arisen within shorter time periods than enumerated under this Section 9.2.1 in order to preserve rights in or the scope of or avoid any potential reduction in the amount of available patent term adjustment of any INBRX GITR Patent, FivePrime shall have final decision-making authority with respect to such Prosecution Disagreement within such shorter time period without referring the dispute to the Parties’ *** (or 

 

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their designees); provided, however, if reasonably possible, FivePrime shall consult with INBRX prior to making any such final decision.  If FivePrime, pursuant to its final decision-making authority, elects to cease Prosecution of any INBRX GITR Patent (including with respect to any country), it shall promptly notify INBRX in writing of such decision (an “Abandonment Notice”) at least *** before the date any action or payment is required in order to prevent the abandonment of rights to such INBRX GITR Patent.  If any INBRX GITR Patent that is the subject of an Abandonment Notice is being Prosecuted in a country other than ***, then INBRX may, by written notice to FivePrime within *** after the date of such Abandonment Notice, elect to exclude such INBRX GITR Patent from the License under this Agreement unless FivePrime continues Prosecution of such INBRX GITR Patent within *** after such notice from INBRX.  If FivePrime ceases Prosecution of any INBRX GITR Patent, INBRX shall have the right, but not the obligation, at its sole discretion and expense, to Prosecute such INBRX GITR Patent. 

9.2.2.INBRX Platform Patents.  As between the Parties, INBRX shall have the sole right, at its sole discretion and ***, to Prosecute the INBRX Platform Patents; provided that INBRX shall keep FivePrime informed of all material developments in such Prosecution pertaining to Compounds and Licensed Products. INBRX will take into consideration FivePrime’s reasonable comments related to the Prosecution of INBRX Platform Patents to the extent such comments relate to Compounds or Licensed Products and are timely provided and it is practicable to do so.  INBRX shall Prosecute the INBRX Platform Patents in good-faith and use reasonable efforts to ensure that Prosecution of the INBRX Platform Patents does not negatively impact, in an unreasonable manner, the Prosecution, scope or validity of INBRX GITR Patents or any claims to Compounds, Licensed Products and/or Licensed Diagnostics (or methods of making or using Compounds, Licensed Products and/or Licensed Diagnostics) (“GITR-Specific Claims”).  INBRX shall, and shall cause its Affiliates to, in the course of Prosecution of INBRX Platform Patents, use reasonable efforts to separate from each INBRX Platform Patent and separately claim, in one or more separate Patent applications, subject matter limited to only GITR-Specific Claims (e.g., by filing a divisional application of an INBRX Platform Patent containing only GITR-Specific Claims) and ensure the assignment of such separate Patent applications to INBRX.  If INBRX elects to cease Prosecution of any INBRX Platform Patent that contains any GITR-Specific Claim, it shall promptly notify FivePrime in writing of such decision at least *** before the date any action or payment is required in order to prevent the abandonment of rights to such INBRX Platform Patent, in which event FivePrime shall have the right, but not the obligation, at its sole discretion and expense, to Prosecute only the GITR-Specific Claims in such INBRX Platform Patent in accordance with Section 9.2.1.

9.2.3.Joint Collaboration Patents.  FivePrime shall have the first right, but not the obligation, to Prosecute, at its sole cost and expense and through outside counsel jointly selected by the Parties, all Joint Collaboration Patents.  If FivePrime elects to cease Prosecution of any Joint Collaboration Patent, it shall promptly notify INBRX in writing of such decision at 

 

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least *** before the date any action or payment is required in order to prevent the abandonment of rights to such Joint Collaboration Patent, in which event INBRX shall have the right, but not the obligation, at its sole discretion and expense, to Prosecute such Joint Collaboration Patent. 

9.3Enforcement and Defense.

9.3.1.Infringement; Notice.  Each Party shall give the other Party written notice of any actual or threatened infringement of any INBRX Patents by an unlicensed Third Party (an “Alleged Infringer”) through the making, having made, using, selling, offering for sale or importing of a Licensed Product (a “Product Infringement”) within *** after such Party has knowledge of such Product Infringement.

9.3.2.Infringement Action by FivePrime.  FivePrime, upon notice to INBRX, shall have the first right to seek to abate any Product Infringement, including initiating and prosecuting any legal action with respect to such Product Infringement, (an “Infringement Action”), at its expense, and to control the defense of any declaratory judgment action relating to a Product Infringement.  INBRX shall cooperate with FivePrime (as may be reasonably requested by FivePrime), including, if necessary, by being joined as a party.  FivePrime shall reimburse INBRX for its direct, out-of-pocket costs associated with INBRX’s above cooperation, as requested by FivePrime.  FivePrime shall not enter into any settlement or compromise that would affect the scope, validity, enforcement, exclusivity or duration of any INBRX Patent or INBRX’s rights under this Agreement, or that would impose a financial obligation on INBRX, or impose any admission of guilt or liability on INBRX without INBRX’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.

9.3.3.Infringement Action by INBRX.  In the event that FivePrime elects not to initiate, within *** of a notice received or provided pursuant to Section 9.3.1, an Infringement Action or to prosecute such Infringement Action, if INBRX has a good faith belief that there is a Product Infringement, INBRX shall have the right to seek to abate such Product Infringement, including initiating an Infringement Action, and to control the defense of any declaratory judgment action relating to a Product Infringement, at its expense.  At FivePrime’s request, INBRX shall meet with FivePrime in person to discuss the basis on which INBRX has a good faith belief that there is a Product Infringement.  Such meeting shall take place with *** of FivePrime’s request at a place of business of FivePrime or INBRX or another mutually agreeable location.  FivePrime shall cooperate with INBRX (as may be reasonably requested by INBRX), including, if necessary, by being joined as a party.  INBRX shall reimburse FivePrime for its direct, out-of-pocket costs associated with FivePrime’s above cooperation, as requested by INBRX. INBRX shall not enter into any settlement of, or consent to an adverse judgment in, any Infringement Action brought under this Section 9.3.3 that would affect the scope, exclusivity or duration of any INBRX GITR Patent or any GITR-Specific Claim in any INBRX Platform 

 

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Patent or any of FivePrime’s rights under this Agreement without FivePrime’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. 

9.3.4.Cooperation.  In connection with any Infringement Action under this Section 9.3, FivePrime and INBRX will reasonably cooperate and will provide each other with any information or assistance that either may reasonably request.  Each Party shall keep the other informed of developments in any such action or proceeding, including, to the extent permissible by applicable Law, consultation on and approval of any settlement, the status of any settlement negotiations and the terms of any offer related thereto.  Each Party shall have the right to be represented by counsel of its own choice at its own expense for any action set forth in this Section 9.3.

9.3.5.Recoveries.  Any recovery obtained by either or both FivePrime and INBRX in connection with or as a result of any Infringement Action contemplated by this Section 9.3, whether by settlement or otherwise, shall be shared in order as follows:

(a)Each Party shall recoup all of its costs and expenses incurred in connection with such Infringement Action (on a pro-rata basis); and

(b)The Party initiating such Infringement Action shall retain any remainder; except in the event FivePrime is such Party, such remainder (i) representing compensation for lost sales, a reasonable royalty or lost profits shall be deemed Net Sales and subject to the royalty payments to INBRX under Section 7.3 and (ii) any remaining amount that represents additional damages (for example, enhanced or punitive damages) shall be shared equally by the Parties.

10.Representations, Warranties and Covenants.

10.1Representations and Warranties of Each Party.  Each Party represents and warrants to the other Party that as of the Effective Date that:

10.1.1.It has the full right, power and authority to enter into this Agreement and to perform its obligations hereunder;

10.1.2.This Agreement has been duly executed by it and is legally binding upon it, enforceable against such Party in accordance with its terms, except as such enforceability may be subject to applicable bankruptcy, reorganization, insolvency, moratorium and similar Laws affecting the enforcement of creditors’ rights generally and by general principles of equity; and

10.1.3.The execution and delivery by such Party of this Agreement does not conflict in any material fashion with the terms of any agreement, instrument or understanding, 

 

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oral or written, to which it is a party or by which it may be bound, nor violate any material applicable Law. 

10.2INBRX Representation and Warranties.  INBRX represents and warrants to FivePrime that as of the Effective Date:

10.2.1.It has the full right, power and authority to grant the Licenses granted under this Agreement;

10.2.2.Exhibit B sets forth a complete and accurate list of all INBRX Patents as of the Effective Date.  The INBRX Patents existing as of the Effective Date are properly filed patent applications, and INBRX is the sole owner of or exclusively licenses from Inhibrx, LP each such existing INBRX Patent;

10.2.3.It has not previously assigned, transferred, conveyed, exclusively licensed, or otherwise encumbered its right, title and interest in INBRX Know-How or INBRX Patents in any manner that would prevent it from granting the licenses set forth in Section 5.1;

10.2.4.All employees, consultants and advisors of INBRX or Inhibrx, LP, as applicable, are required to and have, prior to the commencement of their employment or services with INBRX or Inhibrx, LP, as applicable, entered into agreements with INBRX or Inhibrx, LP, as applicable, requiring them to assign, to the extent permitted by Law, all inventions conceived of or reduced to practice by such employee, consultant or advisor during the course of such employee, consultant or advisor’s employment or performance of services to INBRX or Inhibrx, LP, as applicable.

10.2.5.Except as disclosed to FivePrime in writing prior to the Effective Date, INBRX is not party to any agreement with a Third Party that as of the Effective Date does or in the future may require INBRX to pay to such Third Party any license payments, milestones, royalties, damages or other payments as a result of INBRX’s or FivePrime’s use of the Licensed IP.

10.2.6.It has the right to grant the License and rights herein to FivePrime and it has not granted any license, right or interest in, to or under the INBRX Patents or INBRX Know-How to any Third Party with respect to any of the Compounds or Licensed Products inconsistent with the License and rights granted to FivePrime herein; and

10.2.7.There are no claims, judgments or settlements against or owed by INBRX and there are no pending or threatened claims or litigation, in each case relating to any Compounds or Licensed Products or to the INBRX Patents or INBRX Know-How in the Territory.

 

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10.3Covenants.  During the Research Term, INBRX will not knowingly use any material, technology or intellectual property rights in the conduct of the Research Plan that, to its knowledge, is encumbered by any Third Party restriction or any Third Party right or obligation that would conflict or interfere with any of the rights or licenses granted to, or to be granted to, FivePrime hereunder; unless disclosed to FivePrime, and consented to by FivePrime in writing, prior to such use. 

10.4Warranty Disclaimer.  EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY WARRANTY WITH RESPECT TO ANY PATENTS, KNOW-HOW, LICENSES, TECHNOLOGY, SERVICES, RIGHTS OR OTHER SUBJECT MATTER OF THIS AGREEMENT AND HEREBY DISCLAIMS ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT WITH RESPECT TO ANY AND ALL OF THE FOREGOING.

11.Term and Termination.

11.1Term and Expiration.  The term of this Agreement (the “Term”) shall commence on the Effective Date and, unless terminated earlier pursuant to this Section 11, shall expire on a Licensed Product-by-Licensed Product and country-by-country basis upon the expiration of all payment obligations under Section 7, after which the licenses granted by INBRX to FivePrime in Section 4 with respect to such Licensed Product in such country shall become fully paid-up and non-exclusive.

11.2Termination at Will.  FivePrime shall have the right, in its sole discretion, to terminate this Agreement in its entirety without cause at any time during the Term by giving INBRX *** prior written notice.  INBRX shall use reasonable efforts to wind down its respective efforts under the Research Plan and the Additional Support Plan, if applicable, and FivePrime shall remain responsible for all liabilities and obligations incurred or accrued as provided in Section 7 prior to the effective date of such termination.

11.3Termination for Cause.  In addition to any other remedies conferred by this Agreement or by law, either Party may terminate this Agreement in its entirety, at any time during the Term: (a) upon written notice by either Party if the other Party is in breach of its material obligations hereunder and has not cured such breach within *** after such notice for any payment breach, or, as the case may be, *** after such notice for any breach other than a payment breach; provided, however, in the event of a good faith Dispute with respect to the existence of a material breach, the *** or *** cure period, as applicable, shall be tolled until such time as the Dispute is resolved pursuant to Section 13.6.   If such alleged breach is contested in good faith by the breaching Party in writing within the applicable cure period, then the dispute 

 

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resolution procedure pursuant to Section 13.6 may be initiated by either Party to determine whether a material breach has actually occurred.  If such breach is confirmed in accordance with the procedure set forth in Section 13.6 and not cured within *** after the receipt of a decision by the arbitrators confirming such breach, the non-breaching Party shall have the right, on written notice to the breaching Party, to terminate this Agreement it its entirety effective immediately. 

11.4Termination for Bankruptcy.  Either Party may terminate this Agreement, if, at any time, the other Party shall file in any court or agency pursuant to any applicable Law, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of the Party or of substantially all of its assets, or if the other Party proposes a written agreement of composition or extension of substantially all of its debts, or if the other Party shall be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition shall not be dismissed within *** after the filing thereof, or if the other Party shall propose or be a party to any dissolution or liquidation, or if the other Party shall make an assignment of substantially all of its assets for the benefit of creditors.  All rights and licenses granted under or pursuant to any section of this Agreement are and shall otherwise be deemed to be for purposes of 11 U.S.C. §365(n) licenses of rights to “intellectual property” as defined in 11 U.S.C. §101(35A).  The Parties shall retain and may fully exercise all of their respective rights and elections under the Bankruptcy Code of the United States.  Upon the bankruptcy of any Party, the non-bankrupt Party shall further be entitled to a complete duplicate of, or complete access to, any such intellectual property, and such, if not already in its possession, shall be promptly delivered to the non-bankrupt Party, unless the bankrupt Party elects to continue, and continues, to perform all of its obligations under this Agreement.

11.5Consequences of Termination.

11.5.1.In the event FivePrime terminates this Agreement under Section 11.2 or INBRX terminates this Agreement under Section 11.3 for FivePrime’s uncured material breach, the following shall apply:

(a)Within *** after the termination effective date, FivePrime shall pay all amounts payable to INBRX hereunder that have accrued but have not been paid as of the effective date of termination with respect to each Licensed Product.

(b)The Licenses shall immediately terminate and FivePrime shall have no further rights to Licensed Products. Without limiting the foregoing, FivePrime shall assign to INBRX all Regulatory Approvals for all Licensed Products and INBRX shall have the right to, in its sole discretion, research, develop and commercialize all Licensed Products, either by itself or with any Third Party, without regard to anything to the contrary in this Agreement.  In addition, INBRX shall have the time-limited exclusive 

 

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option to negotiate with FivePrime, on terms and conditions that are commercially reasonable under the circumstances, for an exclusive license under all intellectual property (including Patents, FivePrime Collaboration Know-How and FivePrime Collaboration Patents) Controlled by FivePrime necessary to develop, manufacture and commercialize all Licensed Products.  INBRX may exercise such option at any time after the date this Agreement terminates and prior to the date that is *** after the date this Agreement terminates, by providing FivePrime with written notice to that effect.  Following receipt of such notice, the Parties will promptly meet to discuss in good faith and negotiate over a period of *** the terms of such a license.  Nothing herein shall be construed as obligating either Party to enter into any such agreement on terms and conditions that are not acceptable to it, and each Party shall have the right to unilaterally discontinue all discussions and negotiations with respect to such a transaction at any time after the end of such *** negotiation period and without obligation or liability to the other Party. 

(c)No later than *** after the termination effective date, each Receiving Party shall return to the Disclosing Party (or, at the Disclosing Party’s request, shall destroy) all of the Disclosing Party’s Confidential Information (including all copies thereof) that are in such Party’s possession; provided, however, that the Receiving Party may retain one archival copy of the Disclosing Party’s Confidential Information in its confidential files solely for purposes of identifying its continuing obligations under this Agreement with respect thereto.

(d)No later than *** after the termination effective date, FivePrime shall return to INBRX (or, at INBRX’s request, shall destroy) all of the Materials (including all progeny or derivatives thereof) that are remaining in FivePrime’s possession.  In addition, FivePrime will cooperate in good-faith with INBRX, at INBRX’s request, to affect an order transition of all ongoing development (including any Clinical Trials) and commercialization activities with respect to Licensed Products.

11.5.2.In the event that FivePrime terminates this Agreement under Section 11.3 for INBRX’s uncured material breach, FivePrime’s license according to Section 5.1 shall remain in full force and effect on its own terms, provided that FivePrime fulfills its payment obligations and other obligations under Section 7 net of any money damages for which INBRX was found liable in any Arbitration with respect to such uncured material breach.

11.6Effect of Expiration or Termination Generally; Survival.  Expiration or termination of this Agreement shall not relieve the Parties of any obligation accruing prior to such expiration or termination.  Any expiration or termination of this Agreement shall be without prejudice to the rights of either Party against the other accrued or accruing under this Agreement 

 

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prior to expiration or termination, including the obligation to pay royalties for Licensed Product(s) sold prior to such expiration or termination. Termination of this Agreement is without prejudice to any of the other rights and remedies conferred on the non-breaching Party by this Agreement or under law or equity, including with respect to payment of any amounts by the non-breaching Party to the breaching Party after termination by the non-breaching Party pursuant to this Section 11.  The provisions set forth in Sections 1, 3.7.1, 3.7.5, 3.7.6, 7, 8.1, 8.2, 8.3, 8.4, 8.7, 9.1, 9.3.5, 11.5, 11.6, 12, 13.4, 13.5, 13.6, 13.7, 13.8, 13.9, 13.12, 13.13, 13.14, 13.15 and 13.17 shall survive any expiration or termination of this Agreement for the time periods set forth therein and if no time period is specified, then indefinitely. 

12.Indemnification.

12.1Indemnification by INBRX.  INBRX shall indemnify, defend and hold FivePrime, its Affiliates and its and their respective agents, employees, officers and directors (each a “FivePrime Indemnitee”) harmless from and against any and all Third Party claims, suits, actions, demands, judgments, liabilities, expenses or losses, including reasonable legal expenses and attorneys’ fees (collectively, “FivePrime Losses”) to which any FivePrime Indemnitee may become subject to the extent such FivePrime Losses are proximally caused by: (a) the material breach by INBRX (or its Affiliates or subcontractors) of this Agreement, (b) the gross negligence or willful misconduct of INBRX or its Affiliates, or (c) the failure by INBRX or its Affiliates to abide by any applicable Law; except, in each case, to the extent such FivePrime Losses result from: (i) the material breach of this Agreement by FivePrime; (ii) the gross negligence or willful misconduct of any FivePrime Indemnitee; or (iii) the failure by a FivePrime Indemnitee to abide by any applicable Law or regulation.

12.2Indemnification by FivePrime.  FivePrime shall indemnify, defend, and hold harmless INBRX, its Affiliates and its and their respective agents, employees, officers and directors (each a “INBRX Indemnitee”) from and against any and all Third Party claims, suits, actions, demands, judgments, liabilities, expenses, or losses, including reasonable legal expenses and attorneys’ fees (collectively, “INBRX Losses”) to which any INBRX Indemnitee may become subject to the extent such INBRX Losses are directly or indirectly caused by or otherwise arise out of or are in connection with: (a) the  material breach of FivePrime (or its Affiliates, distributors, sublicensees or subcontractors) of this Agreement, (b) the practice by FivePrime, its sublicensees, or its Affiliates of any license or sublicense granted to FivePrime hereunder, through the manufacture, use, sale, offer for sale or importation of a Licensed Product or otherwise, (c) the manufacture, use, handling, storage, importation, exportation, sale, offer for sale, distribution or other disposition by FivePrime, its Affiliates, sublicensees, subcontractors or distributors of Licensed Product(s), (d) the use by a Third Party of any Compound or Licensed Product sold or otherwise provided by or on behalf of FivePrime, its Affiliates, sublicensees, subcontractors or distributors, (e) a material breach by FivePrime or its Affiliates of this 

 

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Agreement, (f) the negligence or willful misconduct by FivePrime, its Affiliates, sublicensees, or subcontractors, or distributors, or (g) the failure by a FivePrime Indemnitee to abide by any applicable Law or regulation; except, in each case, to the extent such INBRX Losses result from: (i) the material breach by INBRX, its Affiliates, sublicensees or subcontractors of this Agreement, (ii) the gross negligence or willful misconduct of any INBRX Indemnitee; or (iii) the failure by any INBRX Indemnitee to abide by any applicable Law or regulation. 

12.3Notice of Indemnification Obligation and Defense.  (As used in this Section 12.3, the term “Losses” means, as applicable, any and all INBRX Losses or FivePrime Losses, and “Indemnitees” means, as applicable, any and all INBRX Indemnitees or FivePrime Indemnitees.)  Any Party entitled to indemnification under Section 12.1 or 12.2 shall promptly give notice to the indemnifying Party of any actual or potential Losses of which it becomes aware that may be subject to indemnification hereunder, but the failure or delay to so notify the indemnifying Party shall not relieve the indemnifying Party from any liability under Section 12.1 or 13.2 except to the extent that the indemnifying Party’s ability to defend against such Losses was actually prejudiced as a result of such failure or delay.  The indemnifying Party shall have the right to assume and control the defense of such Losses (at its own expense) with outside counsel of its choice and reasonably satisfactory to the indemnified Party; provided, however, that the indemnified Party shall have the right to retain and be represented by its own counsel (at its own expense) in connection therewith.  The indemnified Party shall, upon request, cooperate with the indemnifying Party and its legal representatives in connection with the investigation and defense of such Losses, including by providing or otherwise making available information in its possession with respect thereto.  Neither Party shall settle or otherwise resolve any claim, suit, action, or demand related to any Losses without the prior written consent of the other Party, if such settlement or other resolution would (a) result in the admission of any liability or fault on behalf of the other Party or its Indemnitees, (b) result in or impose any payment obligations upon the other Party or its Indemnitees, (c) or subject the other Party to an injunction or otherwise limit the other Party’s ability to take any actions or refrain from taking any actions under this Agreement.

12.4LIMITATION OF LIABILITY.  EXCEPT IN RESPECT OF SATISFYING AN OBLIGATION OF INDEMNITY PUSUANT TO SECTION 12.1 OR 12.2, AS APPLICABLE, IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, PUNITIVE, INDIRECT, INCIDENTAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES (INCLUDING ANY CLAIMS FOR LOST PROFITS, SALES, REVENUES OR OPPORTUNITIES) ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT (OR THE EXERCISE OF ITS RIGHTS HEREUNDER) UNDER ANY THEORY OF LIABILITY, AND REGARDLESS OF ANY NOTICE OR KNOWLEDGE OF THE POSSIBILITY OF SUCH DAMAGES.

 

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13.General Provisions. 

13.1Force Majeure.  Neither Party shall be held liable to the other Party, nor be deemed to have defaulted under or breached this Agreement, for failure or delay in performing any obligation under this Agreement to the extent such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, potentially including embargoes, war, acts of war (whether war be declared or not), acts of terrorism, sabotage, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances (except for strikes, lockouts or labor disturbances involving such affected Party’s respective employees or agents), fire, floods, earthquake, or other acts of God, or acts, omissions or delays in acting by any governmental authority, and which is not caused by the gross negligence or intentional misconduct of such Party (each such event or cause referred to as “Force Majeure”).  The affected Party shall notify the other Party in writing of such Force Majeure circumstances as soon as reasonably practical, and shall promptly undertake all reasonable efforts necessary to cure such Force Majeure circumstances and resume performance of its obligations under this Agreement.  If circumstances constituting Force Majeure exist for more than ***, the Parties shall meet to discuss and agree upon a resolution to the problem, if practicable.  The foregoing notwithstanding, nothing herein shall require a Party to settle on terms unsatisfactory to such Party any strike, lock-out or other labor difficulty, or any investigation or proceeding by any public authority, or any litigation by any Third Party.

13.2Assignment.  Except as provided in this Section 13.2, neither Party may assign or otherwise transfer this Agreement, or any right or obligation hereunder, without the prior written consent of the other Party.  Notwithstanding the foregoing, either Party may, without consent of the other Party, assign this Agreement in whole to: (i) an Affiliate of such Party; or (ii) its successor in interest in connection with a Strategic Transaction; provided, however, that in the case of assignment to an Affiliate, the assigning Party shall, notwithstanding such assignment, remain responsible for the performance such Affiliate under this Agreement.  Any attempted assignment not in accordance with this Section 13.2 shall be null and void and of no legal effect.  The terms and conditions of this Agreement shall be binding upon, and shall inure to the benefit of, the Parties and their respected successors and permitted assigns.  In the event a Party assigns this Agreement to its acquiror, successor or an Affiliate that becomes an Affiliate of such Party as a result of a merger, acquisition or similar transaction, including by operation of law, any Patents, Know-How or other intellectual property licensed to the other Party under this Agreement shall exclude all Know-How and Patents Controlled by such acquiror, successor or Affiliate prior to the closing of such transaction.  For purposes of this Section 13.2, “Strategic Transaction” means, with respect to a Party, the occurrence of any of the following events: (i) the direct or indirect acquisition by any Third Party of more than fifty percent (50%) of the combined voting power of the then outstanding voting securities of such Party normally entitled to vote in elections of directors; (ii) the sale, transfer, conveyance or other disposition of all or 

 

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substantially all of such Party’s assets to a Third Party, or (iii) the consummation of a merger, acquisition, consolidation or other similar transaction between or involving a Third Party and such Party (or the ultimate parent Entity which, immediately prior to the Strategic Transaction, directly or indirectly controls such Party.) 

13.3Severability.  If any one or more of the provisions contained in this Agreement is held invalid, illegal or unenforceable in any respect by a court or other governmental authority of competent jurisdiction, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affects the substantive rights of one or both of the Parties.  The Parties shall in such an instance cooperate and use good faith efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implements the purposes of this Agreement.

13.4Notices.  All notices that are required or permitted hereunder shall be in writing and sufficient if (i) delivered personally, (ii) sent by internationally recognized express courier or (iii) sent by registered or certified mail or internationally recognized express courier (e.g., Federal Express), postage prepaid, return receipt requested, addressed as follows:

		
	
If to INBRX, to:
	
INBRX 110 LP

11099 North Torrey Pines Road

Suite 280

La Jolla, CA 92037

Attention: President & CEO

	
 

	
 

	
 
	
 

	
If to FivePrime, to:
	
Five Prime Therapeutics, Inc.

2 Corporate Drive

South San Francisco, CA  94080

Attention: Chief Business Officer

	
and 
	
Five Prime Therapeutics, Inc.

2 Corporate Drive

South San Francisco, CA  94080

Attention: Legal Department

 

or to such other address(es) as the Party to whom notice is to be given may have furnished to the other Party in writing in accordance herewith (which notice a Party may provide by email in accordance with this Section 13.4).  Any such notice shall be deemed to have been given: (i) 

 

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when delivered, if personally delivered on a Business Day (or if delivered or sent on a non-Business Day, then on the next Business Day); (ii) on the Business Day of scheduled delivery, if sent by internationally recognized express courier; or (iii) on the fifth Business Day following the date of mailing, if sent by mail.  Notwithstanding the foregoing, any notice that a Party is required or permitted to make hereunder that may, pursuant to the explicit terms of this Agreement, be transmitted via email will be deemed sufficiently delivered if transmitted via email to the other Party’s Project Leader with a copy to legal@fiveprime.com and mark@inibrx.com.  Any notice delivered via email pursuant to the preceding sentence shall be deemed to have been given when transmitted on a Business Day (or if delivered or sent on a non-Business Day, then on the next Business Day). 

13.5Applicable Law.  This Agreement and all claims relating to or arising out of this Agreement or the breach thereof shall be governed by and construed in accordance with the laws of the state of California without reference to any of its conflict of laws principles.

13.6Dispute Resolution.  The Parties shall negotiate in good faith and use reasonable efforts to amicably settle any dispute, controversy or claim arising from or related to this Agreement or the breach hereof (each, a “Dispute”).  Either Party shall have the right to refer any Dispute to the *** (or their respective designees) who shall attempt in good faith to resolve such Dispute over a period of ***.

13.6.1.If the Parties do not fully settle any Dispute within *** of referring such matter to the executive officers pursuant to Section 13.6.1, then, except for any Excluded Claims, either Party may submit the Dispute for final resolution by binding arbitration (an “Arbitration”) administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures and in accordance with the Expedited Procedures in those Rules then in effect (the “JAMS Rules”), except as provided in Section 13.6.4 with respect to discovery, and judgment on the Arbitration award may be entered in any court having jurisdiction thereof.  The proceedings and decisions of the arbitrators in any Arbitration under this Section 13.6 shall be confidential except as otherwise expressly permitted in this Agreement or required by applicable Law.

13.6.2.Each Arbitration shall be conducted by a panel of three arbitrators, each with substantial experience in the pharmaceutical or biotechnology business selected pursuant to the JAMS Rules.  Within *** after initiation of an Arbitration, each Party shall select one person to act as an arbitrator and the two Party-selected arbitrators shall select a third arbitrator within *** of their appointment.  If a Party fails to timely select an arbitrator, or if the arbitrators selected by the Parties fail to timely agree upon the third arbitrator, then such arbitrator(s) shall be appointed by JAMS.  The place of arbitration shall be San Francisco, California, and all proceedings and communications shall be in English.

 

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13.6.3.Each Party shall comply with all applicable Laws related to the preservation of evidence as if such dispute were brought in the United States District Court for the Northern District of California.  Notwithstanding the JAMS Rules, each Party shall be entitled to discovery to the same extent provided by the United States Federal Rules of Civil Procedure in effect at the time of such Arbitration, including the right to mandatory disclosures under Rule 26, and the right to take depositions, issue subpoenas (by application to the appropriate court), and obtain documents and written discovery.  The arbitrators may sanction a Party that fails to comply with its discovery obligations under this Section 13.6.3, including sanctions provided under Federal Rule of Civil Procedure 37. 

13.6.4.The Parties shall maintain the confidential nature of the Arbitration or except as may be necessary in connection with a court application for a preliminary remedy, a judicial challenge to an award or its enforcement, or unless otherwise required by applicable Law or judicial decision.

13.6.5.Either Party may apply to the arbitrators for interim injunctive relief until the arbitration award is rendered or the controversy is otherwise resolved.  Either Party also may, without waiving any remedy under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that Party pending the arbitration award.  The arbitrators shall have no authority to award punitive, exemplary or any other type of damages excluded under Section 12.4, and the Parties hereby irrevocably waive any right to seek or recover any such damages.   Each Party shall bear an equal share of the arbitrators’ fees and any administrative fees of each Arbitration.  The arbitrators’ decision shall be final, not appealable, and legally binding, and judgment may be entered thereon in a court of competent jurisdiction.

13.6.6.Except to the extent necessary to confirm an award or as may be required by applicable Law, neither a Party nor an arbitrator may disclose the existence, content, or results of an Arbitration without the prior written consent of both Parties.  In no event shall an Arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by applicable California or federal statute of limitations.

13.6.7.All the obligations of the Parties under this Agreement that are not expressly disputed in the Arbitration shall remain in full force during the Arbitration.

13.6.8.As used in this Section, the term “Excluded Claim” means a dispute, controversy or claim between the Parties to the extent it concerns (a) the scope, validity, enforceability, inventorship or infringement of Patents; or (b) compliance by the Parties with any 

 

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Laws governing antitrust, anti-monopoly or competition law or regulation, whether or not statutory. 

13.7Entire Agreement; Amendments.  This Agreement, together with the Exhibits hereto, constitutes the entire understanding of the Parties with respect to the subject matter hereof and supersedes and cancels all previous express or implied agreements (including the certain Confidentiality Agreement between FivePrime and Inhibrx LLC effective as of July 29, 2014 (the “Pre-Existing NDA”), and understandings, negotiations, writings and commitments, either oral or written, in respect to the subject matter hereof.  For clarity, all information for which either Party had non-disclosure and non-use obligations pursuant to the Pre-Existing NDA shall be considered Confidential Information under this Agreement and such obligated Party shall be considered the Receiving Party under this Agreement with respect to such Confidential Information.  The Exhibits to this Agreement are incorporated herein by reference and are part of this Agreement.  This Agreement may be amended, or any term hereof modified, only by a written instrument duly executed by authorized representatives of both Parties.

13.8Headings.  The captions to the several Sections and subsections hereof are not a part of this Agreement, but are merely for convenience to assist in locating and reading the several Sections and subsections hereof.

13.9Independent Contractors.  It is expressly agreed that INBRX and FivePrime shall be independent contractors and that the relationship between the two Parties shall not constitute a partnership, joint venture or agency, and neither Party will treat the relationship between the Parties as a partnership, joint venture or other entity for any purposes.  Neither INBRX nor FivePrime shall have the authority to make any statements, representations or commitments of any kind on behalf of, or otherwise bind or obligate the other Party, without the prior written consent of such other Party.

13.10Performance by Affiliates.  Each Party may discharge any obligations and exercise any right hereunder through any of its Affiliates.  Each Party hereby guarantees the performance by its Affiliates of such Party’s obligations under this Agreement, and shall cause its Affiliates to comply with the provisions of this Agreement in connection with such performance.  Any breach by a Party’s Affiliate of any of such Party’s obligations under this Agreement shall be deemed a breach by such Party, and the other Party may proceed directly against such Party without any obligation to first proceed against such Party’s Affiliate.

13.11Further Actions.  Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such other acts, as are reasonably necessary to carry out the purposes and intent of this Agreement.

 

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13.12Waiver.  No waiver or release of any obligation under or provision of this Agreement shall be valid or effective unless in writing and signed by the waiving Party.  The failure of any Party to insist on the performance of any obligation hereunder shall not be deemed to be a waiver of such obligation.  Waiver of any provision hereunder or of any breach of any provision hereof shall not be deemed to be a continuing waiver or a waiver of any other breach of such provision (or any other provision) on such occasion or any succeeding occasion. 

13.13Cumulative Remedies.  Unless as specified, no remedy referred to in this Agreement is intended to be exclusive, but each shall be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law.

13.14Rule of Construction.  Each Party has had the opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement.  Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply.

13.15Certain Conventions.  Any reference in this Agreement to a Section, subsection, paragraph, clause or Exhibit shall be deemed to be a reference to a Section, subsection, paragraph, clause or Exhibit, of or to, as the case may be, this Agreement, unless otherwise indicated.  Unless the context of this Agreement otherwise requires, (a) words of any gender include each other gender, (b) words such as “herein”, “hereof”, and “hereunder” refer to this Agreement as a whole and not merely to the particular provision in which such words appear, (c) words using the singular include the plural, and vice versa, (d) references to “day” mean calendar days, (e) the words “include,” “includes” and “including” shall be deemed to be followed by the phrase “but not limited to,” “without limitation,” “inter alia” or words of similar import, and (f) the word “or” shall not be deemed to be used in the exclusive sense and shall instead be used in the inclusive sense to mean “or”, unless the context is clear that only one of the options described may apply.

13.16Counterparts.  The Parties may execute this Agreement in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

13.17No Third Party Beneficiaries.  The Parties agree that no provision of this Agreement shall be for the benefit of, or shall be enforceable by any Third Party, including any creditor of either Party.

[Remainder of page intentionally blank; signature page follows.]

 

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IN WITNESS WHEREOF, the Parties have executed this Research Collaboration and License Agreement as of the Effective Date. 

		
	
Five Prime Therapeutics, Inc.

 

 

 

By: /s/ Lewis T. Williams

 

Name: Lewis T. Williams

 

Title: President and Chief Executive Officer
	
INBRX 110 LP

 

 

 

By: /s/ Mark Lappe

 

Name: Mark Lappe

 

Title: Chief Executive Officer

 

 

 

50

 

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Exhibit A

Research Plan

***

A-1

 

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Exhibit B

INBRX Patents

***

 

B-1

 

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Exhibit C

Restricted Antigens

The Restricted Antigens are:

***

	
 
	
·
	

C-1

 

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Exhibit D

Stock Purchase Agreement

This Stock Purchase Agreement (this “Agreement”), effective as of [_______], 201_ (the “Effective Date”), is entered into by and between INBRX 110, LP, a Delaware limited partnership (“Inhibrx”), and Five Prime Therapeutics, Inc., a Delaware corporation (“FivePrime”).  Inhibrx and FivePrime are referred to individually as a “Party” and collectively as the “Parties”.

Recitals

WHEREAS, FivePrime and Inhibrx have entered into a Research Collaboration and License Agreement (the “Collaboration Agreement”), effective as of July [_], 2015;

WHEREAS, in accordance with Section 7.2.3 of the Collaboration Agreement, in connection with FivePrime’s achievement of that certain milestone set forth in Section 7.2.3 of the Collaboration Agreement with respect to [add description of milestone] on [add date of FivePrime’s achievement of the milestone], FivePrime is obligated to pay Inhibrx a milestone payment in the aggregate amount of $[_________] (the “Milestone Payment”);

WHEREAS, pursuant to Section 7.2.2 of the Collaboration Agreement, FivePrime has elected to pay Inhibrx [$_________ of] the Milestone Payment in shares of FivePrime’s common stock, par value $0.001 per share (“Common Stock”), having at least an equivalent value to [$_________ of] the Milestone Payment, based on the weighted-average closing price for the prior *** from the date of FivePrime’s achievement of such milestone, and upon the terms and conditions set forth in this Agreement;

WHEREAS, the capitalized terms used herein and not otherwise defined have the meanings given them in Section 6;

NOW, THEREFORE, in consideration of the foregoing premises and the covenants herein contained, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

	
1.
	
Issuance of Common Stock.

 

	
 
	
1.1.
	
Issuance of Common Stock.  At the Closing, FivePrime will issue to Inhibrx in [full satisfaction of the Milestone Payment] [OR] [satisfaction of $________ of the Milestone Payment] [___________] shares of Common Stock (the “Shares”).  In accordance with Section 7.2.2 of the Collaboration Agreement, the purchase price for the Shares is $[_____] per share for an aggregate purchase price of $[__________] (the “Purchase Price”) (as calculated in accordance with Exhibit A hereto).

 

D-1

 

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1.2.
	
Closing.  The closing of the transaction contemplated by this Agreement (the “Closing”) will take place on [__________] (the “Closing Date”) at the offices of FivePrime, Two Corporate Drive, South San Francisco, California 94080, or at such other time and place (including by electronic exchange of facsimile signatures) as may be agreed upon by FivePrime and Inhibrx.  On the Closing Date, FivePrime will, in full satisfaction of the Milestone Payment, instruct its transfer agent to record in the name of Inhibrx the Shares in book entry form (and, upon request, will deliver to Inhibrx stock certificates registered in the name of Inhibrx (or a wholly owned subsidiary of Inhibrx) representing the Shares).  

 

	
2.
	
Representations and Warranties of FivePrime.  Except as specifically contemplated by this Agreement or as set forth in any of the SEC Documents, FivePrime hereby represents and warrants to Inhibrx that:

 

	
 
	
2.1.
	
Organization and Qualification. FivePrime is duly incorporated, validly existing and in good standing under the laws of the State of Delaware, with full corporate power and authority to conduct its business as currently conducted as disclosed in the SEC Documents.  FivePrime is duly qualified to do business and is in good standing in every jurisdiction in which the nature of the business conducted by it or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, would not reasonably be expected to have a Material Adverse Effect.

 

	
 
	
2.2.
	
Authorization; Enforceability.  FivePrime has all requisite corporate power and authority to execute and deliver and to perform its obligations under this Agreement, to consummate the transactions contemplated hereby and to issue the Shares in accordance with the terms hereof.  The execution, delivery and performance of this Agreement by FivePrime and the consummation by it of the transactions contemplated hereby (including the issuance of the Shares) have been duly authorized by the Board of Directors of FivePrime (the “Board”) and no further consent, authorization or corporate action of FivePrime, the Board, or FivePrime’s stockholders is required in connection with this Agreement or the transactions contemplated hereby.  This Agreement has been duly executed and delivered by FivePrime and constitutes a legal, valid and binding obligation of FivePrime enforceable against FivePrime in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, or moratorium or similar laws affecting creditors’ and contracting parties’ rights generally.

 

	
 
	
2.3.
	
Capitalization.  The authorized capital stock of FivePrime, as of [insert date of latest quarterly report or annual report], consisted of [________] shares of Common Stock, of which [________] shares were issued and outstanding, 

 

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and[________]shares of blank check preferred stock, par value $0.001 per share, of which [________] shares were issued and outstanding.  All of the issued and outstanding shares of Common Stock have been duly authorized and validly issued, fully paid, and nonassessable.  As of [________], 20[_], an aggregate of [________] shares of Common Stock were issuable upon exercise of stock options outstanding [and a warrant to purchase an aggregate of [________] shares of Common Stock was outstanding].  Except as disclosed in or contemplated by the SEC Documents, FivePrime does not have outstanding any options to purchase, or any preemptive rights or other rights to subscribe for or to purchase, any securities or obligations convertible into, or any contracts or commitments to issue or sell, shares of its capital stock or any such options, rights, convertible securities or obligations other than options granted under FivePrime’s stock option plans and its employee stock purchase plan.  The issuance of the Shares will not obligate FivePrime to issue shares of Common Stock or other securities to any Person (other than Inhibrx) and will not result in a right of any holder of FivePrime securities to adjust the exercise, conversion, exchange or reset price under any of such securities.  FivePrime’s Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”), as in effect on the Effective Date, and FivePrime’s Amended and Restated Bylaws (the “Bylaws”), as in effect on the Effective Date, are each filed as exhibits to the SEC Documents. 

 

	
 
	
2.4.
	
Issuance of Shares.  The Shares are duly authorized and, upon issuance in accordance with the terms of this Agreement, will be validly issued, fully paid and non-assessable and free and clear of all liens, and will not be subject to preemptive rights, rights of first refusal, purchase option, call option, subscription right or other similar rights of stockholders of FivePrime.  Assuming the accuracy of the representations and warranties of Inhibrx in this Agreement, the Shares will be issued in compliance in all material respects with all applicable U.S. federal and state securities laws.

 

	
 
	
2.5.
	
No Conflicts; Government Consents.

 

	
 
	
2.5.1.
	
The execution, delivery and performance of this Agreement by FivePrime does not, and the consummation by FivePrime of the transactions contemplated hereby (including the issuance of the Shares) will not (i) conflict with or result in a violation of any provision of its Certificate of Incorporation or Bylaws or require the approval of FivePrime’s stockholders, (ii) violate or conflict with, or result in a breach or violation of any provision of or constitute a default under, any agreement, indenture, or instrument to which FivePrime is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment, settlement or decree (including United States federal and state securities laws and rules and regulations of any self-regulatory organizations to which FivePrime or its securities are 

 

D-3

 

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subject) applicable to FivePrime, except in the case of clauses (ii) and (iii) only, for such conflicts, breaches, defaults and violations as would not reasonably be expected to have a Material Adverse Effect. 

 

	
 
	
2.5.2.
	
FivePrime is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or any regulatory or self regulatory agency in order for it to execute, deliver or perform any of its obligations under this Agreement in accordance with the terms hereof, or to issue the Shares in accordance with the terms hereof, other than such as have been made or obtained, and except for (i) any filings required to be made under federal or state securities laws, (ii) any required filings or notifications regarding the issuance or listing of additional shares with Nasdaq and (iii) the filings required in accordance with Section 4.4.

 

	
 
	
2.6.
	
SEC Documents, Financial Statements.

 

	
 
	
2.6.1.
	
FivePrime has timely filed or furnished all reports, schedules, forms, statements and other documents required to be filed or furnished by it with the SEC since September 17, 2013, pursuant to the reporting requirements of the Exchange Act (all of the foregoing filed prior to the Effective Date and all exhibits included therein and financial statements and schedules thereto and documents (other than exhibits) incorporated by reference therein, together with the documents filed by FivePrime with the SEC pursuant to the requirements of the Securities Act prior to the Effective Date and all exhibits included therein and financial statements and schedules thereto and documents (other than exhibits), together referred to herein as the “SEC Documents”).  As of their respective SEC filing dates, and only with respect to the SEC Documents filed by FivePrime pursuant to the Exchange Act, the SEC Documents complied in all material respects with the requirements of the Exchange Act and the applicable portions of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), as the case may be, and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC Documents, including those filed pursuant to the Exchange Act and Securities Act, as such respective dates (or, if amended prior to the date of this Agreement, the date of the filing of such amendment, with respect to the disclosures that are amended), contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.  True and complete copies of the SEC Documents are available for access by Inhibrx via the SEC’s EDGAR system.

 

	
 
	
2.6.2.
	
As of their respective dates, the Financial Statements and the related notes complied as to form in all material respects with applicable accounting 

 

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requirements and the published rules and regulations of the SEC with respect thereto.  The Financial Statements and the related notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), consistently applied, during the periods involved (except (i) as may be otherwise indicated in the Financial Statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes, may be condensed or summary statements or may conform to the SEC’s rules and instructions for Reports on Form 10-Q) and fairly present in all material respects the consolidated financial position of FivePrime as of the dates thereof and the consolidated results of its operations, retained earnings (loss), changes in financial position and cash flows, as the case may be, for the periods then ended (subject, in the case of unaudited statements, to normal and recurring year-end audit adjustments).  All material agreements that were required to be filed as exhibits to the SEC Documents under Item 601 of Regulation S-K (collectively, the “Material Agreements”) to which FivePrime is a party, or the property or assets of FivePrime is subject, have been filed as exhibits to the SEC Documents. All Material Agreements are valid and binding obligations of FivePrime, enforceable against FivePrime in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, or moratorium or similar laws affecting creditors’ and contracting parties’ rights generally.  FivePrime is not, and has not received written notice that it is, in breach of, or default under any, of the Material Agreements, except in each case for such breaches or defaults as would not reasonably be expected to have a Material Adverse Effect. 

 

	
 
	
2.7.
	
Disclosure Controls and Procedures. Except as disclosed in the SEC Documents, FivePrime has established and maintains disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) that are effective in all material respects to ensure that material information relating to FivePrime is made known to its chief executive officer and chief financial officer by others within those entities.  FivePrime’s certifying officers have evaluated the effectiveness of FivePrime’s disclosure controls and procedures as of the end of the period covered by the most recently filed quarterly or annual periodic report under the Exchange Act (such date, the “Evaluation Date”).  FivePrime presented in its most recently filed quarterly or annual periodic report under the Exchange Act the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date.  Since the Evaluation Date, there have been no significant changes in FivePrime’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) or, to FivePrime’s knowledge, in other factors that could significantly affect FivePrime’s internal control over financial reporting.

 

 

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2.8.
	
Accounting Controls.  Except as disclosed in the SEC Documents, FivePrime maintains a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorization, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain accountability for assets, (iii) access to assets is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences. 

 

	
 
	
2.9.
	
Absence of Litigation.  Except as disclosed in the SEC Documents, as of the Effective Date, there is no action, suit, proceeding or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to FivePrime’s knowledge, threatened against FivePrime that if determined adversely to FivePrime would reasonably be expected to have a Material Adverse Effect or would reasonably be expected to impair the ability of FivePrime to perform its obligations under this Agreement. 

	
 
	
2.10.
	
Placement Agents.  FivePrime has taken no action that would give rise to any claim by any Person for brokerage commissions, placement agent’s fees or similar payments relating to this Agreement or the transactions contemplated hereby.

	
 
	
2.11.
	
No Material Adverse Change. Since [insert date of latest quarterly or annual report], except as described or referred to in the SEC Documents and except for cash expenditures in the ordinary course of business, there has not been any change in the assets, business, properties, financial condition or results of operations of FivePrime or other event or occurrence that would reasonably be expected to have a Material Adverse Effect.  Since [insert date of latest quarterly or annual report], (i) there has not been any dividend or distribution of any kind declared, set aside for payment, paid or made by FivePrime on any class of capital stock, (ii) FivePrime has not purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock, except issued pursuant to existing FivePrime stock option plans, (iii) FivePrime has not issued any equity securities to any officer, director or Affiliate, except issued pursuant to existing FivePrime stock option or stock purchase plans or executive and director compensation arrangements disclosed in the SEC Documents, (iv) FivePrime has not sustained any material loss or interference with FivePrime’s business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or regulatory authority, (v) FivePrime has not incurred any material liabilities except in the ordinary course of business and (vi) FivePrime has not altered materially its method of accounting or the manner in which it keeps its accounting books and records.  Except for the issuance of the Shares contemplated by 

 

D-6

 

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this Agreement, no event, liability or development has occurred or exists with respect to FivePrime or its business, properties, operations or financial condition, that would be required to be disclosed by FivePrime under applicable securities laws at the time this representation is made that has not been publicly disclosed at least one Trading Day prior to the date that this representation is made. 

	
 
	
2.12.
	
The Nasdaq Global Select Market.  The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act.  FivePrime has taken no action designed to terminate the registration of the Common Stock under the Exchange Act and FivePrime has not received any notification that the SEC is contemplating terminating such registration.  The Common Stock is listed on The Nasdaq Global Select Market, and, to FivePrime’s knowledge, there are no proceedings pending or, to the knowledge of FivePrime, threatened to revoke or suspend such listing or the listing of the Shares.  FivePrime is in compliance in all material respects with the requirements of Nasdaq for continued listing of the Common Stock thereon and any other Nasdaq listing and maintenance requirements.

	
 
	
2.14.
	
Compliance.  FivePrime: (i) is not in violation of any judgment, decree, or order of any court, arbitrator or other governmental authority or (ii) is not nor has it been in violation of any statute, rule, ordinance or regulation of any governmental authority, including all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters, except in each case as would not reasonably be expected to result in a Material Adverse Effect.

	
 
	
2.15.
	
No General Solicitation.  Neither FivePrime nor, to FivePrime’s knowledge, any Person acting on behalf of FivePrime has offered or sold any of the Shares by means of any form of general solicitation or general advertising.

	
 
	
2.16.
	
S-3 Eligibility.  FivePrime meets the requirements for the use of Form S-3 under the Securities Act.

	
3.
	
Inhibrx’ Representations and Warranties.  Inhibrx represents and warrants to FivePrime with respect to itself and its purchase hereunder, that:

 

	
 
	
3.1.
	
Acknowledgement of Risk

 

	
 
	
3.1.1.
	
Inhibrx acknowledges and understands that its investment in the Shares involves a significant degree of risk, including (i) FivePrime remains an early stage business and requires substantial funds in addition to the proceeds from the sale of the Shares; (ii) an investment in FivePrime is speculative, and only investors who can afford the loss of their entire investment should consider investing in FivePrime and the Shares; (iii) in the event of a disposition of the Shares, Inhibrx could 

 

D-7

 

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sustain the loss of its entire investment; and (iv) FivePrime has not paid any dividends on its Common Stock since inception and does not anticipate the payment of dividends in the foreseeable future.  Inhibrx acknowledges that risk factors related to FivePrime and an investment in FivePrime are more fully set forth in the SEC Documents and that Inhibrx has reviewed such risk factors; 

 

	
 
	
3.1.2.
	
Inhibrx has, in connection with its decision to purchase Shares, not relied upon any representations, warranties or other information (whether oral or written) of or related to FivePrime other than those representations and warranties of FivePrime specifically set forth herein, and Inhibrx has, with respect to all matters relating to this Agreement and the offer and sale of the Shares, relied solely upon the advice of Inhibrx’ own counsel and has not relied upon or consulted any counsel to FivePrime.

 

	
 
	
3.2.
	
Governmental Review.  Inhibrx understands that no United States federal or state agency or any other government or governmental agency has passed upon or made any recommendation or endorsement of the Shares or an investment therein.

 

	
 
	
3.3.
	
Authorization; Enforcement. Inhibrx has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby.  Inhibrx has taken all necessary action to authorize the execution, delivery and performance of this Agreement.  Upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of Inhibrx enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity.

 

	
 
	
3.4.
	
No Short Sales.  Between the time FivePrime notified Inhibrx that the Milestone Payment would be in shares of Common Stock and the Effective Date, Inhibrx has not engaged in any short sales or similar transactions with respect to the Common Stock or any derivative thereof, nor has Inhibrx, directly or indirectly, caused any Person to engage in any short sales or similar transactions with respect to the Common Stock or any derivative thereof, including and in each case, in any transaction aimed, directly or indirectly, at affecting the price of the Common Stock listed on Nasdaq for purposes of the transactions contemplated by this Agreement.

 

	
4.
	
Covenants.

	
 
	
4.1.
	
Expenses.  FivePrime and Inhibrx are liable for, and will pay, their own expenses incurred in connection with the negotiation, preparation, execution and delivery of this Agreement, including attorneys’ and consultants’ fees and expenses.

 

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4.2.
	
Financial Information.  The financial statements of FivePrime to be included in any documents filed with the SEC will be prepared in accordance with GAAP, consistently applied, during the periods involved (except (i) as may be otherwise indicated in the Financial Statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes, may be condensed or summary statements or may conform to the SEC’s rules and instructions for Reports on Form 10-Q) and will fairly present in all material respects the consolidated financial position of FivePrime as of the dates thereof and the consolidated results of its operations, retained earnings (loss), changes in financial position and cash flows, as the case may be, for the periods then ended (subject, in the case of unaudited statements, to normal and recurring year-end audit adjustments). 

	
 
	
4.3.
	
Securities Laws Disclosure; Publicity.  On or before the fourth Business Day following the Effective Date, FivePrime shall file a Current Report on Form 8-K with the SEC describing the terms of the transactions contemplated by this Agreement.

	
 
	
4.4.
	
S-3 Eligibility.  FivePrime shall use its reasonable best efforts to satisfy the requirements for the use of Form S-3 under the Securities Act.

	
 
	
4.5.
	
Reports under the Exchange Act.  With a view to making available to Inhibrx the benefits of Rule 144 promulgated under the Securities Act (“Rule 144”) and any other rule or regulation of the SEC that may at any time permit Inhibrx to sell securities of FivePrime to the public without registration or pursuant to a registration on Form S‐3, FivePrime shall:

	
 
	
4.5.1.
	
make and keep available adequate current public information, as those terms are understood and defined in Rule 144, at all times after the issuance of the Shares;

	
 
	
4.5.2.
	
use reasonable best efforts to file with the SEC in a timely manner all reports and other documents required of FivePrime under the Securities Act and the Exchange Act; and

	
 
	
4.5.3.
	
furnish to Inhibrx, so long as Inhibrx owns any Shares, forthwith upon request (i) to the extent accurate, a written statement by FivePrime that it has complied with the reporting requirements of Rule 144, the Securities Act, and the Exchange Act, or that it qualifies as a registrant whose securities may be resold pursuant to Form S‐3; (ii) a copy of the most recent annual or quarterly report of FivePrime and such other reports and documents so filed by FivePrime; and (iii) such other information as may be reasonably requested in availing Inhibrx of any rule or regulation of the SEC that permits the selling of any such securities without registration or pursuant to Form S‐3.

	
 
	
4.6.
	
Registration Rights.

 

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4.6.1.
	
Required Registration.  FivePrime shall use its best efforts (i) to file with the SEC, no later than *** after the Effective Date, at its expense, a registration statement on Form S-3 pursuant to Rule 415 promulgated under the Securities Act, to affect the registration of the Shares under applicable federal securities laws in order to permit the sale or other disposition of the Shares on a continuous basis and (ii) cause such registration statement to become effective no later than *** after the date of such filing, provided that such registration statement is not reviewed by the SEC, or *** after such filing if such registration statement is reviewed by the SEC.  As a condition to the inclusion of the Shares on any registration statement, Inhibrx shall furnish to FivePrime such information regarding Inhibrx and the distribution proposed by Inhibrx as FivePrime may reasonably request in writing, including completing a registration statement questionnaire in the form provided by FivePrime.  

	
 
	
4.6.2.
	
“Piggy Back” Registration.  If, within *** after the Effective Date, FivePrime shall determine to register under the Securities Act, any of its Common Stock, other than on Form S 8 or its then equivalent or in connection with any transaction conducted pursuant to Rule 145 promulgated under the  Securities Act, it shall send to Inhibrx written notice of such determination and, if within *** after receipt of such notice, Inhibrx shall so request in writing, FivePrime shall use its best efforts to include in such registration statement all of the Shares, provided, however, that if, in connection with any offering involving an underwriting of Common Stock to be issued by FivePrime, the managing underwriter shall impose a limitation on the number of shares of such Common Stock which may be included in any such registration statement because, in its judgment, such limitation is necessary to effect an orderly public distribution, and such limitation is imposed pro rata among holders of such Common Stock having an incidental (“piggy back”) right to include such Common Stock in the registration statement according to the amount of such Common Stock which each holder had requested to be included pursuant to such right, then FivePrime shall be obligated to include in such registration statement only such limited portion of the Shares with respect to which Inhibrx has requested inclusion hereunder.

	
 
	
4.6.3.
	
Effectiveness.  FivePrime will use its best efforts to maintain the effectiveness for up to *** of any registration statement pursuant to which any of the Shares are being offered (the “Registration Period”), and from time to time will amend or supplement such registration statement and the prospectus contained therein as and to the extent necessary to comply with the Securities Act and any applicable state securities statute or regulation.  FivePrime will also provide Inhibrx with as many copies of the prospectus contained in any such registration statement as it may reasonably request.  Inhibrx agrees that, upon receipt of any notice from FivePrime of the occurrence of any event requiring the preparation of a supplement or 

 

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amendment to a prospectus so that, as thereafter delivered to Inhibrx, such prospectus shall not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, Inhibrx will forthwith discontinue disposition of the Shares pursuant to the registration statement and prospectus until its receipt of copies of the supplemented or amended prospectus from FivePrime.  Inhibrx shall suspend, upon request of FivePrime, any disposition of Shares pursuant to any registration statement and prospectus to the extent that the Board of Directors of FivePrime determines in good faith that the sale of Shares under any such registration statement would be reasonably likely to cause a violation of the Securities Act or Exchange Act; provided, however, that in the event that such suspension is for more than three (3) business days, the expiration date of the Registration Period shall be extended by an equal number of days.  

	
 
	
4.6.4.
	
Selling Commissions. All selling commissions relating to the sale of securities registered by or on behalf of Inhibrx shall be borne by Inhibrx.  

	
 
	
4.6.5.
	
Covenants.  Inhibrx hereby covenants with FivePrime (i) not to make any sale of the Shares without effectively causing the prospectus delivery requirements under the Securities Act to be satisfied, and (ii) if such Shares are to be sold by any method or in any transaction other than on a national securities exchange or in the over-the-counter market, in privately negotiated transactions, or in a combination of such methods, to notify FivePrime at least three business days prior to the date on which Inhibrx first offers to sell any such Shares.  Inhibrx agrees not to take any action with respect to any distribution deemed to be made pursuant to a Registration Statement which would constitute a violation of Regulation M under the Exchange Act or any other applicable rule, regulation or law.  At the end of the Registration Period Inhibrx shall discontinue sales of securities pursuant to any registration statement upon receipt of notice from FivePrime of its intention to remove from registration the Shares covered by any such registration statement which remain unsold, and Inhibrx shall notify FivePrime of the number of Shares registered which remain unsold immediately upon receipt of such notice from FivePrime.  For the avoidance of doubt, the foregoing shall not limit the ability of Inhibrx to sell pursuant to Rule 144.

	
 
	
4.6.6.
	
Indemnification of Inhibrx.  In the event that FivePrime registers any of the Shares under the Securities Act, FivePrime will indemnify and hold harmless Inhibrx from and against any and all losses, claims, damages, expenses or liabilities to which it becomes subject under the Securities Act or under any other statute or at common law or otherwise, and, except as hereinafter provided, will reimburse Inhibrx for any legal or other expenses reasonably incurred by it in connection with investigating or defending any actions whether or not resulting in any liability, 

 

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insofar as such losses, claims, damages, expenses, liabilities or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the registration statement, in any preliminary or amended preliminary prospectus or in the prospectus (or the registration statement or prospectus as from time to time amended or supplemented by FivePrime) 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 in order to make the statements therein not misleading or any violation by FivePrime of any rule or regulation promulgated under the Securities Act applicable to FivePrime and relating to action or inaction required of FivePrime in connection with such registration, unless such untrue statement or omission was made in such registration statement, preliminary or amended, preliminary prospectus or prospectus in reliance upon and in conformity with information furnished in writing to FivePrime in connection therewith by Inhibrx expressly for use therein provided however, that FivePrime will not be liable in any such case where the losses, claims, damages, expenses or liabilities arise out of or are related to the failure of Inhibrx to comply with the covenants and agreements contained in this Agreement respecting sales of Shares, and except that the foregoing indemnity is subject to the condition that, insofar as it relates to any such untrue statement or alleged untrue statement or omission or alleged omission made in any preliminary prospectus but eliminated or remedied in the amended prospectus on file with the SEC at the time any registration statement becomes effective or in an amended prospectus filed with the SEC pursuant to Rule 424(b) which meets the requirements of Section 10(a) of the Securities Act (each, a “Final Prospectus”), such indemnity shall not inure to the benefit of Inhibrx, if a copy of a Final Prospectus furnished by FivePrime to Inhibrx for delivery was not furnished to the Person asserting the losses, claims, damages, expenses or liabilities at or prior to the time such furnishing is required by the Securities Act and a Final Prospectus would have cured the defect giving rise to such loss, liability, claim or damage. FivePrime shall not be liable to indemnify any person for any settlement of any such action effected without FivePrime’s consent, which shall not be unreasonably withheld, delayed or conditioned. 

	
 
	
4.6.7.
	
Indemnification Procedure.  Promptly after receipt by Inhibrx of notice of the commencement of any action in respect of which indemnity may be sought against FivePrime, Inhibrx will notify FivePrime in writing of the commencement thereof, and, subject to the provisions hereinafter stated, FivePrime shall assume the defense of such action (including the employment of counsel, who shall be counsel reasonably satisfactory to Inhibrx), and the payment of expenses insofar as such action shall relate to any alleged liability in respect of which indemnity may be sought against FivePrime.  Inhibrx shall have the right to employ separate counsel in any such action and to participate in the defense thereof but the fees and expenses of such counsel shall not be at the expense of FivePrime unless the 

 

D-12

 

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employment of such counsel has been specifically authorized by FivePrime.  FivePrime shall not be liable to indemnify any person for any settlement of any such action effected without FivePrime’s consent, which shall not be unreasonably withheld, delayed or conditioned. 

	
 
	
4.6.8.
	
Indemnification of Company.  In the event that FivePrime registers any of the Shares under the Securities Act, Inhibrx will indemnify and hold harmless FivePrime, each of its directors, each of its officers who have signed the registration statement, each underwriter of the shares so registered (including any broker or dealer through whom such of the shares may be sold) and each person, if any, who controls FivePrime within the meaning of Section 15 of the Securities Act from and against any and all losses, claims, damages, expenses or liabilities, joint or several, to which they or any of them may become subject under the Securities Act or under any other statute or at common law or otherwise, and, except as hereinafter provided, will reimburse FivePrime and each such director, officer, underwriter or controlling person for any legal or other expenses reasonably incurred by them or any of them in connection with investigating or defending any actions whether or not resulting in any liability, insofar as such losses, claims, damages, expenses, liabilities or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the registration statement, in any preliminary or amended preliminary  prospectus or in the prospectus (or in the registration statement or prospectus as from time to time amended or supplemented) 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 in order to make the statements therein not misleading, but only insofar as any such statement or omission was made in reliance upon and in conformity with information furnished in writing to FivePrime in connection therewith by Inhibrx expressly for use therein.  Promptly after receipt of notice of the commencement of any action in respect of which indemnity may be sought against Inhibrx, FivePrime will notify Inhibrx in writing of the commencement thereof, and Inhibrx shall, subject to the provisions hereinafter stated, assume the defense of such action (including the employment of counsel, who shall be counsel reasonably satisfactory to FivePrime) and the payment of expenses insofar as such action shall relate to the alleged liability in respect of which indemnity may be sought against Inhibrx.  FivePrime and each such director, officer, underwriter or controlling person shall have the right to employ separate counsel in any such action and to participate in the defense thereof but the fees and expenses of such counsel shall not be at the expense of Inhibrx unless employment of such counsel has been specifically authorized by Inhibrx.  Inhibrx shall not be liable to indemnify any person for any settlement of any such action effected without Inhibrx’s consent, which shall not be unreasonably withheld, delayed or conditioned.

 

D-13

 

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5.
	
Conditions to Closing. 

	
 
	
5.1.
	
Conditions to Obligations of FivePrime.  FivePrime’s obligation to complete the transaction and deliver such Shares to Inhibrx is subject to the waiver by FivePrime or fulfillment as of the Closing Date of the following conditions:

	
 
	
5.1.1.
	
Representations and Warranties.  The representations and warranties made by Inhibrx in Section 3 shall be true and correct in all material respects as of the Closing Date.

	
 
	
5.1.2.
	
Covenants.  All covenants, agreements and conditions contained in this Agreement to be performed by Inhibrx on or prior to the Closing Date shall have been performed or complied with in all material respects.

	
 
	
5.1.3.
	
Nasdaq Qualification.  The Shares to be issued shall be duly authorized for listing by Nasdaq, subject to official notice of issuance, to the extent required by the rules of Nasdaq.

	
 
	
5.1.4.
	
Absence of Litigation.  No proceeding challenging this Agreement or the transactions contemplated hereby, or seeking to prohibit, alter, prevent or materially delay the Closing, shall have been instituted or be pending before any court, arbitrator, governmental body, agency or official.

	
 
	
5.1.5.
	
No Governmental Prohibition.  The sale of the Shares by FivePrime shall not be prohibited by any law or governmental order or regulation.

	
 
	
5.1.6.
	
Consents.  FivePrime shall have obtained in a timely fashion any and all consents, permits, approvals, registrations and waivers necessary for consummation of the transaction, all of which shall be and remain so long as necessary in full force and effect.

	
 
	
5.2.
	
Conditions to Inhibrx’ Obligations at the Closing.  Inhibrx’ obligation to complete the purchase and sale of the Shares is subject to the waiver by Inhibrx or fulfillment as of the Closing Date of the following conditions:

	
 
	
5.2.1.
	
Representations and Warranties.  The representations and warranties made by FivePrime in Section 2 shall be true and correct in all material respects as of the date when made and as of the Closing Date (except for those representations and warranties that are qualified as to materiality, in which case such representations and warranties shall be true in correct in all respects).

	
 
	
5.2.2.
	
Covenants.  All covenants, agreements and conditions contained in this Agreement to be performed by FivePrime on or prior to the Closing Date shall 

 

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have been performed or complied with in all material respects. 

	
 
	
5.2.3.
	
Transfer Agent Instructions. FivePrime shall have delivered to its transfer agent irrevocable instructions to issue to Inhibrx, or in such nominee name(s) as designated by Inhibrx, the Shares or, if requested by Inhibrx, one or more certificates registered in the name of Inhibrx (or a wholly owned subsidiary of Inhibrx) representing such Shares.

	
 
	
5.2.4.
	
Nasdaq Qualification. The Shares to be issued shall be duly authorized for listing by Nasdaq, subject to official notice of issuance, to the extent required by the rules of Nasdaq.

	
 
	
5.2.5.
	
Absence of Litigation.  No proceeding challenging this Agreement or the transactions contemplated hereby, or seeking to prohibit, alter, prevent or materially delay the Closing, shall have been instituted or be pending before any court, arbitrator, governmental body, agency or official.

	
 
	
5.2.6.
	
No Governmental Prohibition. The sale of the Shares by FivePrime shall not be prohibited by any law or governmental order or regulation.

	
 
	
5.2.7.
	
Consents.  FivePrime shall have obtained in a timely fashion any and all consents, permits, approvals, registrations and waivers necessary for consummation of the transaction, all of which shall be and remain so long as necessary in full force and effect.

	
 
	
5.2.8.
	
No Suspensions of Trading in Common Stock.  The Common Stock shall not have been suspended, as of the Closing Date, by the SEC or Nasdaq from trading on Nasdaq nor shall suspension by the SEC or Nasdaq have been threatened, as of the Closing Date, either (i) in writing by the SEC or Nasdaq or (ii) by falling below the minimum listing maintenance requirements of Nasdaq.

	
6.
	
Definitions.

	
 
	
6.1.
	
“Agreement” has the meaning set forth in the preamble.

 

	
 
	
6.2.
	
“Affiliate” means, with respect to any Person (as defined below), any other Person controlling, controlled by or under direct or indirect common control with such Person (for the purposes of this definition “control,” when used with respect to any specified Person, means the power to direct the management and policies of such Person, directly or indirectly, whether through ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” shall have meanings correlative to the foregoing).

 

 

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6.3.
	
“Business Day” means a day Monday through Friday on which banks are generally open for business in New York City. 

 

	
 
	
6.4.
	
“Bylaws” has the meaning set forth in Section 2.3.

 

	
 
	
6.5.
	
“Closing” has the meaning set forth in Section 1.2.

 

	
 
	
6.6.
	
“Closing Date” has the meaning set forth in Section 1.2.

 

	
 
	
6.7.
	
“Collaboration Agreement” has the meaning set forth in the Recitals. 

 

	
 
	
6.8.
	
“Common Stock” has the meaning set forth in the Recitals.

 

	
 
	
6.9.
	
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

	
 
	
6.10.
	
“Financial Statements” means the balance sheets, the statements of income, changes in shareholders’ equity and cash flows of FivePrime included in or incorporated by reference into the SEC Documents (including the related notes and schedules).

 

	
 
	
6.11.
	
“FivePrime” has the meaning set forth in the Preamble.

 

	
 
	
6.12.
	
“Inhibrx” has the meaning set forth in the Preamble. 

 

	
 
	
6.13.
	
“Material Adverse Effect” means a material adverse effect on (a) the business, operations, prospects, assets or condition (financial or otherwise) of FivePrime, or (b) the ability of FivePrime to perform in any material respect on a timely basis its obligations pursuant to the transactions contemplated by this Agreement.

 

	
 
	
6.14.
	
“Material Agreements” has the meaning set forth in Section 2.6.

 

	
 
	
6.15.
	
“Milestone Payment” has the meaning set forth in the Recitals.

 

	
 
	
6.16.
	
“Nasdaq” means The Nasdaq Stock Market LLC.

 

	
 
	
6.17.
	
“Person” means any person, individual, corporation, limited liability company, partnership, trust or other nongovernmental entity or any governmental agency, court, authority or other body (whether foreign, federal, state, local or otherwise).

 

	
 
	
6.18.
	
“Purchase Price” has the meaning set forth in Section 1.1.

 

	
 
	
6.19.
	
“SEC” means the United States Securities and Exchange Commission.

 

 

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6.20.
	
“SEC Documents” has the meaning set forth in Section 2.6. 

 

	
 
	
6.21.
	
“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute.

 

	
 
	
6.22.
	
“Shares” has the meaning set forth in Section 1.1.

 

	
 
	
6.23.
	
“Trading Day” means any day on which the Common Stock is traded on Nasdaq, or, if Nasdaq is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded; provided that “Trading Day” shall not include any day on which the Common Stock is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time).

	
7.
	
Governing Law; Miscellaneous.

	
 
	
7.1.
	
 Applicable Law.  This Agreement and all claims relating to or arising out of this Agreement or the breach thereof shall be governed by and construed in accordance with the laws of the state of California without reference to any of its conflict of laws principles.  

 

	
 
	
7.2.
	
Entire Agreement; Amendments.  This Agreement (including all schedules and exhibits hereto) constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes and cancels all previous express or implied agreements and understandings, negotiations, writings and commitments, either oral or written, in respect of the subject matter hereof.  This Agreement may be amended, or any terms hereof modified, only by a written instrument duly executed by authorized representatives of both parties hereto.  Any amendment by a party effected in accordance with this Section 7.2 shall be binding upon such party, including with respect to any Shares purchased under this Agreement at the time outstanding and held by such party.

 

	
 
	
7.3.
	
Notices.  All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (c) one Business Day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. The addresses for such communications are:

 

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If to FivePrime:

 

 

With a copy to:
	
Five Prime Therapeutics, Inc. 
Two Corporate Drive
South San Francisco, CA 94080
Attention: General Counsel

 

 

legal@fiveprime.com

 

	
If to Inhibrx:
	
INBRX 110 LP

11099 North Torrey Pines Road

Suite 280

La Jolla, CA 92037

Attention:  President & CEO

Each party will provide ten days’ advance written notice to the other parties of any change in its address.

	
 
	
7.4.
	
Successors and Assigns.  This Agreement is binding upon and inures to the benefit of the parties and their successors and assigns. FivePrime will not assign this Agreement or any rights or obligations hereunder without the prior written consent of Inhibrx; provided, however, that no such consent shall be required in connection with any acquisition of FivePrime or a majority of the outstanding shares of Common Stock or a sale of all or substantially all of the assets of FivePrime, in each case in a single or series of related transactions, or in the case of any other assignment by operation of law.  Inhibrx shall not assign this Agreement or any rights or obligations hereunder without the prior written consent of FivePrime.  Any attempted assignment not in accordance with this Section 7.4 shall be null and void and of no legal effect.  The terms and conditions of this Agreement shall be binding upon, and shall inure to the benefit of, the Parties and their respective successors and permitted assigns.

  

	
 
	
7.5.
	
Third Party Beneficiaries. The parties agree that no provision of this Agreement be for the benefit of, or shall be enforceable by, any third party, including any creditor of either Party.

 

	
 
	
7.6.
	
Survival of Representations and Warranties.  Notwithstanding any investigation made by any party to this Agreement, all representations and warranties made by FivePrime and Inhibrx herein shall survive for a period of one (1) year following the Effective Date.

 

	
 
	
7.7.
	
Headings.  The captions to the several Sections and subsections hereof are not a part of this Agreement, but are merely for convenience to assist in locating and reading the several Sections and subsections hereof.

 

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7.8.
	
Further Actions.  Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such other acts, as are reasonably necessary to carry out the purposes and intent of this Agreement.

 

	
 
	
7.9.
	
Severability.  If any court of competent jurisdiction shall hold any one or more of the provisions of this Agreement invalid or unenforceable, which holding neither Party appeals or may not be appealed, the provision shall be considered severed from this Agreement and shall not serve to invalidate any remaining provisions hereof.  The Parties shall make a good faith effort to replace any invalid or unenforceable provision with a valid and enforceable one such that the objectives contemplated by the Parties when entering this Agreement may be realized.

 

	
 
	
7.10.
	
Waiver.  No waiver or release of any obligation under or provision of this Agreement shall be valid or effective unless in writing and signed by the waiving Party.  The failure of any Party to insist on the performance of any obligation hereunder shall not be deemed to be a waiver of such obligation.  Waiver of any provision hereunder or of any breach of any provision hereof shall not be deemed to be a continuing waiver or a waiver of any other breach of such provision (or any other provision) on such occasion or any succeeding occasion.

 

	
 
	
7.11.
	
Cumulative Remedies.  Unless as specified, no remedy referred to in this Agreement is intended to be exclusive, but each shall be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law.

 

	
 
	
7.12.
	
Rule of Construction.  Each Party has had the opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement.  Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply.

 

	
 
	
7.13.
	
Certain Conventions.  Any reference in this Agreement to a Section, subsection, paragraph or clause shall be deemed to be a reference to a Section, subsection, paragraph or clause, of or to, as the case may be, this Agreement, unless otherwise indicated.  Unless the context of this Agreement otherwise requires, (a) words of any gender include each other gender, (b) words such as “herein”, “hereof”, and “hereunder” refer to this Agreement as a whole and not merely to the particular provision in which such words appear, (c) words using the singular shall include the plural, and vice versa, (d) references to “day” mean calendar days, (e) the words “include,” “includes” and “including” shall be deemed to be followed by the phrase “but not limited to,” “without limitation,” “inter alia” or words of similar import, and (f) the word “or” shall not be deemed to be used in the exclusive sense and shall instead be used in the inclusive sense to mean “or”, unless the context is clear that 

 

D-19

 

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CONFIDENTIALExecution Copy

 

	
 
		
only one of the options described may apply. 

 

	
 
	
7.14.
	
Counterparts.  The Parties may execute this Agreement in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

[Remainder of page intentionally blank; signature page follows.]

 

 

 

 

D-20

 

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CONFIDENTIALExecution Copy

 

IN WITNESS WHEREOF, the Parties have caused this Stock Purchase Agreement to be duly executed by their respective authorized signatories as of the Effective Date.

 

		
	
INBRX 110, LP

 

 

 

By: 

 

Name: 

 

Title: 
	
Five Prime Therapeutics, Inc.

 

 

 

By: 

 

Name: Lewis T. Williams

 

Title: President and Chief Executive Officer

 

 

 

 

 

 

 

 

 *** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

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Exhibit A

Purchase Price Calculation1 

 

 

	
	
 

	
1 
	
 NTD: The purchase price is based on the weighted-average closing price for the prior *** from the date of FivePrime’s achievement of the applicable milestone.

 

 

 

 *** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

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Exhibit E

Press Release

E-1

 

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Five Prime Therapeutics Establishes Strategic Research Collaboration and License Agreement with Inhibrx for Novel GITR Antibodies

 

	
·
	
Inhibrx’s technology may offer best-in-class approach for agonist antibodies 

	
·
	
New program further expands Five Prime’s immuno-oncology pipeline and potential for combination therapies

 

SOUTH SAN FRANCISCO, Calif., and LA JOLLA, Calif., July XX, 2015 (GLOBE NEWSWIRE) -- Five Prime Therapeutics, Inc. (Nasdaq: FPRX) (Five Prime), a clinical-stage biotechnology company focused on discovering and developing novel protein therapeutics for cancer and inflammatory diseases, today announced a strategic research collaboration and license agreement with Inhibrx for Inhibrx’s novel glucocorticoid-induced tumor necrosis factor receptor (GITR) antibody program, which is currently at lead selection stage.   

 

Leveraging its comprehensive protein library and proprietary in vivo screening technologies, Five Prime identified GITR as one of the most potent inhibitors of tumor growth. GITR is an immune checkpoint protein that is selectively expressed on effector T cells and T regulatory cells (Tregs), and is believed to activate an immune response against tumor cells. In preclinical studies, agonist antibodies have demonstrated the ability to induce tumor regressions, particularly when administered in combination with other immuno-oncology therapies.  

 

Inhibrx’s technology offers a novel, potentially best-in-class approach for engineering a GITR antibody with the desired properties aimed at maximizing safety, efficacy and combinability with other therapies. Inhibrx’s multivalent antibody scaffolds are designed to multimerize and activate GITR independent of Fc binding.  This is in contrast to conventional GITR antibodies, where efficacy is dependent upon binding and the presence of Fc-receptor bearing cells and may vary due to Fc receptor polymorphisms and be dampened by competing serum IgG. 

 

Under the terms of the agreement, Five Prime will pay Inhibrx a $10 million license fee in return for exclusive, worldwide therapeutic and diagnostic rights to antibodies provided by Inhibrx that bind to GITR, as well as an option to license multi-specific antibodies that bind to GITR and other targets. Inhibrx is eligible to receive up to $342.5 million in development, regulatory and commercial milestone payments per therapeutic product, or up to $442.5 million in development, regulatory and commercial milestone payments if the U.S. Food and Drug Administration grants a Breakthrough Therapy Designation to such therapeutic product. Milestone payments for development, 

E-2

 

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regulatory and first commercial sale events may be paid in cash or in Five Prime common stock at Five Prime’s discretion. Inhibrx is also eligible for low double-digit tiered royalties on future product sales. 

 

“Five Prime is actively pursuing a comprehensive approach to immuno-oncology by identifying pipeline candidates with the potential to work independently or in combination to target macrophages, immune check points, T cell agonist pathways and Treg cells. Comparing across many potential targets, our platform pointed to GITR as an ideal agonist to expand our portfolio,” said Lewis "Rusty" T. Williams, M.D., Ph.D., chief executive officer & president of Five Prime. “Inhibrx’s antibody technology is uniquely suited to activate GITR and enhance the immune response against the tumor. We believe this program has the potential to create a differentiated, next-generation GITR agonist that may have broad therapeutic application as a monotherapy or in combination with approved checkpoint inhibitors or other therapies, including products in our pipeline.”

 

“We believe Five Prime’s insights into GITR biology and their scientific and clinical translation capabilities make them the optimal partner for our GITR program,” said Mark Lappe, CEO of Inhibrx.  “They share our commitment to bring therapeutics to patients in need as quickly as possible and we are excited to be collaborating with them.”

 

Five Prime intends to provide updated cash guidance when it reports its second quarter 2015 financial results.

 

About Five Prime

Five Prime Therapeutics, Inc. discovers and develops innovative therapeutics to improve the lives of patients with serious diseases. Five Prime's comprehensive discovery platform, which encompasses virtually every medically relevant extracellular protein, positions it to explore pathways in cancer, inflammation and their intersection in immuno-oncology, an area with significant therapeutic potential and a growing focus of the company's R&D activities. Five Prime has entered into strategic collaborations with leading global pharmaceutical companies and has promising product candidates in clinical and late preclinical development. For more information, please visit www.fiveprime.com.

 

About Inhibrx 

Inhibrx is a biologic immunotherapeutic company focused on the treatment of high unmet medical needs in oncology, infectious disease and inflammatory conditions. Inhibrx’s proprietary platforms enable fit-for-function biotherapeutics that optimally interface with the biology of each target antigen, focus immune activation and mediate enhanced signaling. Inhibrx’s programs are based on comprehensive target discovery and selection expertise coupled with the creative implementation of multiple antibody and biologic development strategies. Inhibrx has numerous immuno-oncology 

E-3

 

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therapeutics in development including a highly differentiated CD47 antibody, licensed by Celgene, which entered clinical studies in early 2015.  For more information visit www.inhibrx.com. 

 

Cautionary Note on Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Five Prime's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include statements regarding Five Prime's potential receipt of upfront and milestone payments and royalties. Factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Five Prime's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" contained therein. Except as required by law, Five Prime assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

 

CONTACT: 

 

Five Prime Therapeutics, Inc.

 

Amy Kendall, Corporate Communications 

 

         415-365-5776

 

         amy.kendall@fiveprime.com

 

 

Inhibrx 

 

Mark Lappe, President & CEO

 

858-759-1499 

 

mark@inhibrx.com 

 

 

 

E-4

 

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 Exhibit 10.1 

EXECUTION VERSION 
 FIVE-YEAR
CREDIT AGREEMENT 
 dated as of November 1, 2015 

among 
 HEWLETT PACKARD ENTERPRISE
COMPANY, 
 The Lenders Party Hereto, 

JPMORGAN CHASE BANK, N.A., 
 as
Administrative Processing Agent and Co-Administrative Agent 
 and 

CITIBANK, N.A., 
 as
Co-Administrative Agent 
  
  

J.P. MORGAN SECURITIES LLC, 

CITIGROUP GLOBAL MARKETS INC., 

BNP PARIBAS SECURITIES CORP., 

HSBC SECURITIES (USA) INC. 
 and

 MERRILL LYNCH, PIERCE, FENNER & SMITH, INCORPORATED, 

as Joint Lead Arrangers and Joint Bookrunners 
  

 
 BNP PARIBAS,

 HSBC BANK USA, NATIONAL ASSOCIATION, 

and 
 BANK OF AMERICA, N.A., 

as Co-Syndication Agents 

 TABLE OF CONTENTS 

ARTICLE I 
 Definitions 

 

							
	SECTION 1.01.	  	Defined Terms	  	 	  1	  
	SECTION 1.02.	  	Classification of Loans and Borrowings	  	 	25	  
	SECTION 1.03.	  	Terms Generally	  	 	25	  
	SECTION 1.04.	  	Accounting Terms; GAAP	  	 	26	  
	SECTION 1.05.	  	Exchange Rates	  	 	26	  
			
		  	ARTICLE II	  			
			
		  	The Credits	  			
			
	SECTION 2.01.	  	Commitments	  	 	26	  
	SECTION 2.02.	  	Loans and Borrowings	  	 	27	  
	SECTION 2.03.	  	Requests for Revolving Borrowings	  	 	27	  
	SECTION 2.04.	  	Swingline Loans	  	 	28	  
	SECTION 2.05.	  	Funding of Borrowings	  	 	31	  
	SECTION 2.06.	  	Interest Elections	  	 	31	  
	SECTION 2.07.	  	Termination and Reduction of Commitments	  	 	33	  
	SECTION 2.08.	  	Repayment of Loans; Evidence of Debt	  	 	33	  
	SECTION 2.09.	  	Prepayment of Loans	  	 	34	  
	SECTION 2.10.	  	Fees	  	 	35	  
	SECTION 2.11.	  	Interest	  	 	36	  
	SECTION 2.12.	  	Alternate Rate of Interest	  	 	37	  
	SECTION 2.13.	  	Increased Costs	  	 	37	  
	SECTION 2.14.	  	Break Funding Payments	  	 	39	  
	SECTION 2.15.	  	Taxes	  	 	39	  
	SECTION 2.16.	  	Payments Generally; Pro Rata Treatment; Sharing of Setoffs	  	 	43	  
	SECTION 2.17.	  	Mitigation Obligations; Replacement of Lenders	  	 	45	  
	SECTION 2.18.	  	Defaulting Lenders	  	 	46	  
	SECTION 2.19.	  	Increase in Revolving Commitments	  	 	47	  
	SECTION 2.20.	  	Extension of Maturity Date	  	 	49	  
	SECTION 2.21.	  	Additional Reserve Costs	  	 	50	  
	SECTION 2.22.	  	Redenomination of Certain Designated Foreign Currencies	  	 	50	  
			
		  	ARTICLE III	  			
			
		  	Representations and Warranties	  			
			
	SECTION 3.01.	  	Organization; Powers	  	 	51	  
	SECTION 3.02.	  	Authorization; Enforceability	  	 	51	  
	SECTION 3.03.	  	Governmental Approvals; No Conflicts	  	 	51	  
	SECTION 3.04.	  	Financial Condition; No Material Adverse Change	  	 	52	  

  
 - i - 

							
	SECTION 3.05.	  	Litigation and Environmental Matters	  	 	52	  
	SECTION 3.06.	  	Compliance with Laws and Agreements	  	 	53	  
	SECTION 3.07.	  	Investment Company Status	  	 	53	  
	SECTION 3.08.	  	Taxes	  	 	53	  
	SECTION 3.09.	  	ERISA	  	 	53	  
	SECTION 3.10.	  	Federal Reserve Regulations	  	 	53	  
	SECTION 3.11.	  	Pari Passu Status	  	 	53	  
	SECTION 3.12.	  	Anti-Corruption Laws and Sanctions	  	 	54	  
			
		  	ARTICLE IV	  			
			
		  	Conditions	  			
			
	SECTION 4.01.	  	Effective Date	  	 	54	  
	SECTION 4.02.	  	Each Credit Event	  	 	56	  
			
		  	ARTICLE V	  			
			
		  	Affirmative Covenants	  			
			
	SECTION 5.01.	  	Financial Statements and Other Information	  	 	56	  
	SECTION 5.02.	  	Notices of Material Events	  	 	58	  
	SECTION 5.03.	  	Existence; Conduct of Business	  	 	58	  
	SECTION 5.04.	  	Payment of Obligations	  	 	59	  
	SECTION 5.05.	  	Maintenance of Properties; Insurance	  	 	59	  
	SECTION 5.06.	  	Books and Records; Inspection Rights	  	 	59	  
	SECTION 5.07.	  	Compliance with Laws	  	 	59	  
	SECTION 5.08.	  	Use of Proceeds	  	 	60	  
			
		  	ARTICLE VI	  			
			
		  	Negative Covenants	  			
			
	SECTION 6.01.	  	Subsidiary Indebtedness	  	 	60	  
	SECTION 6.02.	  	Liens	  	 	62	  
	SECTION 6.03.	  	Sale and Leaseback Transactions	  	 	63	  
	SECTION 6.04.	  	Fundamental Changes	  	 	64	  
	SECTION 6.05.	  	Financial Covenants	  	 	64	  
			
		  	 ARTICLE VII
	  			
			
		  	 Events of Default
	  			
			
		  	 ARTICLE VIII
	  			
			
		  	 The Administrative Agent
	  			

  
 - ii - 

							
		  	ARTICLE IX	  			
			
		  	Miscellaneous	  			
			
	SECTION 9.01.	  	Notices	  	 	69	  
	SECTION 9.02.	  	Waivers; Amendments	  	 	71	  
	SECTION 9.03.	  	Expenses; Indemnity; Damage Waiver	  	 	73	  
	SECTION 9.04.	  	Successors and Assigns	  	 	74	  
	SECTION 9.05.	  	Survival	  	 	78	  
	SECTION 9.06.	  	Counterparts; Integration; Effectiveness	  	 	78	  
	SECTION 9.07.	  	Severability	  	 	79	  
	SECTION 9.08.	  	Right of Setoff	  	 	79	  
	SECTION 9.09.	  	Governing Law; Jurisdiction; Consent to Service of Process	  	 	79	  
	SECTION 9.10.	  	WAIVER OF JURY TRIAL	  	 	80	  
	SECTION 9.11.	  	Headings	  	 	80	  
	SECTION 9.12.	  	Confidentiality	  	 	80	  
	SECTION 9.13.	  	Authorization to Distribute Certain Materials to Public-Siders; Material Non-Public Information	  	 	81	  
	SECTION 9.14.	  	Patriot Act	  	 	82	  
	SECTION 9.15.	  	Conversion of Currencies	  	 	82	  
	SECTION 9.16.	  	No Fiduciary Duty	  	 	82	  
			
	 SCHEDULES:
	  		  			
			
	 Schedule 2.01 -
	  	 Commitments
	  			
	 Schedule 3.05 -
	  	 Litigation and Environmental Matters
	  			
	 Schedule 6.01-
	  	 Existing Subsidiary Indebtedness
	  			
		
	 EXHIBITS:
	  			
			
	Exhibit A -	  	Form of Assignment and Assumption	  			
	Exhibit B-1 -	  	Form of Opinion of Borrower’s Counsel	  			
	Exhibit B-2 –	  	Form of Solvency Certificate	  			
	Exhibit C-1 –	  	Form of U.S. Tax Certificate for Non-U.S. Lenders that are not Partnerships for U.S. Federal Income Tax Purposes	  
	Exhibit C-2 –	  	Form of U.S. Tax Certificate for Non-U.S. Lenders that are Partnerships for U.S. Federal Income Tax Purposes	  
	Exhibit C-3 –	  	Form of U.S. Tax Certificate for Non-U.S. Participants that are not Partnerships for U.S. Federal Income Tax Purposes	   
	Exhibit C-4 –	  	Form of U.S. Tax Certificate for Non-U.S. Participants that are Partnerships for U.S. Federal Income Tax Purposes	  

  
 - iii - 

 CREDIT AGREEMENT dated as of November 1, 2015 (the
“Agreement”), among HEWLETT PACKARD ENTERPRISE COMPANY, the LENDERS party hereto, JPMORGAN CHASE BANK, N.A., as Administrative Processing Agent and Co-Administrative Agent, and CITIBANK, N.A., as Co-Administrative Agent. 

The parties hereto agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
bears interest at a rate determined by reference to the Alternate Base Rate. 
 “Adjusted LIBO Rate” means, with respect to
any Eurocurrency Borrowing denominated in Dollars for any Interest Period (or, solely for purposes of clause (c) of the defined term “Alternate Base Rate”, for purposes of determining the Alternate Base Rate as of any date), an
interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period (or such date, as applicable) multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” means the Administrative Processing Agent or any successor thereto appointed in accordance with
Article VIII. 
 “Administrative Processing Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative
processing agent for the Lenders hereunder. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a
form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to a specified Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Agent Parties” has the meaning assigned to such term in Section 9.01(d). 

“Agreement” has the meaning assigned to such term in the preamble. 

“Agreement Currency” has the meaning assigned to such term in Section 9.15(b). 

 “Alternate Base Rate” means, for any day, a rate per annum equal to the highest
of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%, and (c) the Adjusted LIBO Rate for a one-month Interest Period commencing on such day (or if such day is not a
Business Day, the immediately preceding Business Day) plus 1%; provided that, for the avoidance of doubt, for purposes of this definition, the Adjusted LIBO Rate on any day shall be based on the rate per annum equal to the London interbank
offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in Dollars (for delivery on such day) with a term of one month as displayed on the Reuters screen
page that displays such rate (currently page LIBOR01) (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the
Administrative Agent from time to time in its reasonable discretion) at approximately 11:00 a.m., London time, two Business Days prior to such day. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective
Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower and the
Subsidiaries from time to time concerning or relating to bribery or corruption. 
 “Applicable Creditor” has the meaning
assigned to such term in Section 9.15(b). 
 “Applicable Funding Account” means an account of the Borrower that is
specified in a written notice from a Financial Officer of the Borrower delivered to and approved by the Administrative Agent for the funding of the proceeds of Loans hereunder, which account shall be maintained by the Borrower (i) with the
Administrative Agent in New York City, in the case of funding proceeds of Loans in Dollars, and (ii) with a financial institution other than the Administrative Agent in London, in the case of funding proceeds of Loans in a Designated Foreign
Currency. 
 “Applicable Percentage” means, with respect to any Lender and any Class of Loans or Commitments, the
percentage of the Commitments of such Class represented by such Lender’s Commitments of such Class; provided that in the case of Section 2.18 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the
percentage of the total Commitments (disregarding any Defaulting Lender’s Commitment) represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the
Commitments of the relevant Class most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 

“Applicable Rate” means, for any day with respect to any ABR Loan, Eurocurrency Loan, or the commitment fees payable
hereunder, the applicable rate per annum set forth below in basis points per annum under the caption “ABR Spread,” 

  
 2 

 
“Eurocurrency Spread” or “Commitment Fee Rate,” as the case may be, based upon the Ratings of S&P, Moody’s and Fitch, respectively, applicable on such date to the
Index Debt: 
  

													
	 Index Debt Ratings:
	  	ABR
Spread	 	  	Eurocurrency
Spread	 	  	Commitment Fee
Rate	 
	         Category 1

Rating of A, A2 or A
	  	 	0.0	  	  	 	87.5	  	  	 	8.0	  
	         Category 2

Rating of A-, A3 or A-
	  	 	0.0	  	  	 	100.0	  	  	 	10.0	  
	         Category 3

Rating of BBB+, Baa1 or BBB+
	  	 	12.5	  	  	 	112.5	  	  	 	12.5	  
	         Category 4

Rating of BBB, Baa2 or BBB
	  	 	25.0	  	  	 	125.0	  	  	 	15.0	  
	         Category 5

Rating of BBB-, Baa3 or BBB-
	  	 	50.0	  	  	 	150.0	  	  	 	20.0	  
	         Category 6

Rating of BB+, Ba1 or BB+ or lower
	  	 	75.0	  	  	 	175.0	  	  	 	25.0	  

 “Arranger” means J.P. Morgan Securities LLC, Citigroup Global Markets Inc., BNP Paribas
Securities Corp., HSBC Securities (USA) Inc. or Merrill Lynch, Pierce, Fenner & Smith, Incorporated, each in its capacity as an arranger of the credit facilities established under this Agreement. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent of
any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A hereto or any other form approved by the Administrative Agent. 

“Attributable Debt” means, with respect to any Sale and Leaseback Transaction, the present value (discounted at the rate set
forth or implicit in the terms of the lease included in such Sale and Leaseback Transaction, compounded semiannually) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such Sale and
Leaseback Transaction (including any period for which such lease has been extended). In the case of any lease that is terminable by the lessee upon payment of a penalty, the Attributable Debt shall be the lesser of the Attributable Debt determined
assuming termination upon the first date such lease may be terminated (in which case the Attributable Debt shall also include the amount of the penalty, but no 

  
 3 

 
rent shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated) or the Attributable Debt determined assuming no such termination.
Any determination of any rate implicit in the terms of the lease included in such Sale and Leaseback Transaction made in accordance with generally accepted financial practices by the Borrower shall be binding and conclusive absent manifest error.

 “Availability Period” means the period from and including the Effective Date to but excluding the earlier of the
Maturity Date and the date of termination of the Commitments. 
 “Bankruptcy Event” means, with respect to any Person, such
Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its
business publicly appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided
that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless such ownership interest results in or
provides such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to
reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 
 “Board” means the Board of
Governors of the Federal Reserve System of the United States of America. 
 “Board Control Event” means the occupation of a
majority of the seats (other than vacant seats) on the board of directors of the Borrower by Persons who were neither (i) nominated or approved by the board of directors of the Borrower nor (ii) appointed by directors so nominated or
approved. 
 “Borrower” means Hewlett Packard Enterprise Company, a Delaware corporation, which, prior to consummation of
the Separation Transactions, was a wholly-owned subsidiary of Hewlett-Packard Company. 
 “Borrower Agent” means agents of
the Borrower acting in capacity with, or benefitting from, this Agreement or the proceeds of any Borrowing. 
 “Borrowing”
means (a) a group of Loans of the same Type, made, converted or continued on the same date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect and denominated in the same currency or (b) a Swingline
Loan. 
 “Borrowing Minimum” means (a) in the case of a Borrowing denominated in Dollars, US$25,000,000 and
(b) in the case of a Borrowing denominated in any 

  
 4 

 
Designated Foreign Currency, the smallest amount of such Designated Foreign Currency that is a multiple of 1,000,000 units of such currency that has a US Dollar Equivalent in excess of
US$25,000,000. 
 “Borrowing Multiple” means (a) in the case of a Borrowing denominated in Dollars, US$5,000,000 and
(b) in the case of a Borrowing denominated in any Designated Foreign Currency, 1,000,000 units of such currency. 
 “Borrowing
Request” means a request by the Borrower for a Revolving Borrowing in accordance with Section 2.03. 
 “Business
Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed; provided that, (a) when used in connection with a Eurocurrency
Loan, a European Swingline Loan or a UK Swingline Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in deposits in the applicable currency in the London interbank market, and (b) when
used in connection with a Loan denominated in Euro (including a European Swingline Loan), the term “Business Day” shall also exclude any day on which the TARGET2 payment system is not open for the settlement of payments in Euro. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the
amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP; provided that (a) any lease that was treated as an operating lease under GAAP at the time it was entered into that later becomes a
capital lease as a result of a change in GAAP during the life of such lease, including any renewals, and (b) any lease entered into after the date of this Agreement that would have been considered an operating lease under the provisions of GAAP
in effect as of October 31, 2014, in each case, shall be treated as an operating lease for all purposes under this Agreement, including for purposes of determining “Attributable Debt”. 

“Category” means a category of Index Debt Ratings set forth in the table included in the definition of Applicable Rate in
this Section 1.01. 
 “Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934, as amended and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof) of shares representing more
than 37.5% of the aggregate ordinary voting power represented by the issued and outstanding capital stock of the Borrower, or (b) (i) the Borrower consolidates with or merges into another corporation (where the Borrower is not the
surviving corporation) or (except for the Separation Transactions) conveys, transfers or leases all or substantially all of its properties and assets (determined on a consolidated basis for the Borrower and

  
 5 

 
the Subsidiaries taken as a whole) to any Person or (ii) any corporation consolidates with or merges into the Borrower or a Subsidiary in a transaction in which the outstanding voting stock
of the Borrower is changed into or exchanged for cash, securities or other property, other than a transaction solely between the Borrower and a Subsidiary or a transaction involving only stock consideration which is permitted under
Section 6.04. 
 “Change in Law” means (a) the adoption of any law, rule or regulation after the date of this
Agreement, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement, or (c) compliance by any Lender (or, for purposes of
Section 2.13(b), by any lending office of such Lender or by such Lender’s direct or indirect holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or
issued after the date of this Agreement; provided that (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder, issued in connection therewith or in
implementation thereof, and (ii) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the
United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented. 

“Class”, when used in reference to (a) any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are Revolving Loans or Swingline Loans, and (b) any Commitment, refers to whether such Commitment is a Revolving Commitment or a Swingline Commitment. 

“Co-Administrative Agent” means JPMorgan Chase Bank, N.A. or Citibank, N.A., each in its capacity as co-administrative agent
for the Lenders hereunder. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Commitment” means a Revolving Commitment or a Swingline Commitment. 

“Commitment Letter” means the Commitment Letter dated September 10, 2015, among the Borrower, JPMorgan Chase Bank, N.A.,
J.P. Morgan Securities LLC, Citibank, N.A., Citigroup Global Markets, Inc., BNP Paribas, BNP Paribas Securities Corp., HSBC Bank USA, National Association, HSBC Securities (USA) Inc., Bank of America, N.A. and Merrill Lynch, Pierce,
Fenner & Smith Incorporated. 
 “Communications” has the meaning assigned to such term in Section 5.01(e).

 “Consolidated Current Liabilities” means, on any date, the consolidated current liabilities (other than the short-term
portion of any long-term Indebtedness of the Borrower or any Subsidiary) of the Borrower and the Subsidiaries, as such amounts 

  
 6 

 
would appear on a consolidated balance sheet of the Borrower prepared as of such date in accordance with GAAP. 

“Consolidated EBITDA” means, for any period, Consolidated Net Income for such period plus (a) without duplication and to
the extent deducted in determining such Consolidated Net Income, the sum of (i) consolidated interest expense for such period, (ii) consolidated income tax expense for such period, (iii) all amounts attributable to depreciation and
amortization for such period, (iv) cash expenses, including cash reorganization expenses, relating to the Separation Transactions, and other non-recurring cash expenses, in each case paid (A) during the initial period of four fiscal
quarters ending after the date on which the Spin-Off is consummated and (B) during the subsequent period of four fiscal quarters in an aggregate amount up to $1,000,000,000 for that period, (v) any extraordinary or non-recurring non-cash
charges, including non-cash restructuring charges, for such period (it being understood that non-cash goodwill and intangible asset impairment charges will be deemed to be non-recurring non-cash charges); provided, however, that cash
expenditures in respect of charges referred to in this clause (v) shall be deducted in determining Consolidated EBITDA for the period during which such expenditures are made, (vi) stock-based employee compensation expense, and
(vii) losses from sales and dispositions of assets outside the ordinary course of business, and minus (b) without duplication and to the extent included in determining such Consolidated Net Income, (i) any extraordinary or
non-recurring gains for such period and (ii) gains from sales or dispositions of assets outside the ordinary course of business, all determined on a consolidated basis in accordance with GAAP. 

“Consolidated Intangible Assets” means, on any date, the consolidated intangible assets of the Borrower and the Subsidiaries,
as such amounts would appear on a consolidated balance sheet of the Borrower prepared in accordance with GAAP. As used herein, “intangible assets” means the value (net of any applicable reserves) as shown on such balance sheet of
(i) all patents, patent rights, trademarks, trademark registrations, servicemarks, trade names, business names, brand names, copyrights, designs (and all reissues, divisions, continuations and extensions thereof), or any right to any of the
foregoing, (ii) goodwill, and (iii) all other intangible assets. 
 “Consolidated Net Assets” means, on any date,
the excess of Consolidated Total Assets over Consolidated Current Liabilities. 
 “Consolidated Net Income” means, for any
period, the net income or loss of the Borrower and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income of any Person (other than the Borrower
or any Subsidiary) in which any other Person (other than the Borrower or any Subsidiary or any director holding qualifying shares in compliance with applicable law) owns an Equity Interest, except to the extent of the amount of dividends or other
distributions actually paid to the Borrower or any of the Subsidiaries during such period and (b) the income or loss of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the Borrower or any
Subsidiary or the date that such Person’s assets are acquired by the Borrower or any Subsidiary. 

  
 7 

 “Consolidated Net Interest Expense” means, for any period, the excess of
(a) the sum of (i) the interest expense (including imputed interest expense in respect of Capital Lease Obligations) of the Borrower and the Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP,
(ii) any interest accrued during such period in respect of Indebtedness of the Borrower or any Subsidiary that is required to be capitalized rather than included in consolidated interest expense for such period in accordance with GAAP, plus
(iii) any cash payments made during such period in respect of obligations referred to in clause (b)(iii) below that were amortized or accrued in a previous period, minus (b) the sum of (i) interest income of the Borrower and the
Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, (ii) to the extent included in such consolidated interest expense for such period, non-cash amounts attributable to amortization of financing costs paid
in a previous period, plus (iii) to the extent included in such consolidated interest expense for such period, non-cash amounts attributable to amortization of debt discounts or accrued interest payable in kind for such period. 

“Consolidated Net Tangible Assets” means, on any date, the excess of Consolidated Total Assets over the sum of
(i) Consolidated Current Liabilities and (ii) Consolidated Intangible Assets. 
 “Consolidated Total Assets”
means, on any date, the consolidated total assets of the Borrower and the Subsidiaries, as such amounts would appear on a consolidated balance sheet of the Borrower prepared as of such date in accordance with GAAP. 

“Consolidated Total Debt” means, on any date, the aggregate principal amount on such date of all Indebtedness of the Borrower
and its consolidated Subsidiaries (x) of the types referred in clauses (a), (b), (c), (d), (f), (g) and (i) of the definition of such term, and (y) of the types referred to in clauses (e), (f) and (h) of such definition
relating to Indebtedness of others of the types referred to in clause (a), in each case in the amount that would be reflected as a liability on a balance sheet of the Borrower and the Subsidiaries prepared as of such date on a consolidated basis in
accordance with GAAP; provided, however, that for the avoidance of doubt, Consolidated Total Debt shall exclude fair value adjustments under the acquisition method of accounting to the book balances of Indebtedness. 

“Consolidated Total Revenues” means, for any period, the consolidated total revenues of the Borrower and the Subsidiaries for
such period determined on a consolidated basis in accordance with GAAP. 
 “Control” means the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlled” has a meaning correlative thereto.

 “Credit Party” means the Administrative Agent, each Swingline Lender and each other Lender. 

  
 8 

 “Default” means any event or condition which constitutes an Event of Default or
which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Defaulting Lender”
means any Lender that (a) has failed, within two Business Days of the date required to be funded or paid, (i) to fund any portion of its Loans, (ii) to fund any portion of its participations in Swingline Loans or (iii) to pay to
any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith
determination that a condition precedent to funding (specifically identified in such writing, including, if applicable, by reference to a specific Default) has not been satisfied, (b) has notified the Borrower or any Credit Party in writing, or
has made a public statement, to the effect that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s
good-faith determination that a condition precedent (specifically identified in such writing, including, if applicable, by reference to a specific Default) to funding a Loan cannot be satisfied) or generally under other agreements in which it
commits to extend credit, (c) has failed, within three Business Days after request by a Credit Party made in good faith to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations
(and is financially able to meet such obligations) to fund prospective Loans and participations in Swingline Loans, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s
receipt of such certification in form and substance satisfactory to it and the Administrative Agent or (d) has (i) become the subject of a Bankruptcy Event, or (ii) had publicly appointed for it a receiver, custodian, conservator,
trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory
authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a
Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or
permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or
more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender upon delivery of written notice of such determination to the Borrower, each Swingline
Lender and each other Lender. 
 “Designated Foreign Currency” means (a) Euro and (b) Sterling. 

“Dollars”, “US$” or “$” refers to lawful money of the United States of America. 

  
 9 

 “Effective Date” means the date on which the conditions specified in
Section 4.01 are satisfied (or waived in accordance with Section 9.02). 
 “Electronic Signature” means an
electronic sound, symbol or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. 

“EMU Legislation” means the legislative measures of the European Union for the introduction of, changeover to or operation of
the Euro in one or more member states. 
 “Environmental Laws” means all laws, rules, regulations, codes, ordinances,
orders, decrees, judgments, injunctions, or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to (i) the environment, (ii) preservation or reclamation of natural resources,
(iii) the generation, use, handling, transportation, storage, treatment, disposal, release or threatened release of any Hazardous Material, or (iv) to the extent related to exposure to, or to the sale, distribution or marketing of products
containing, Hazardous Material, health and safety matters. 
 “Environmental Liability” means any liability, contingent or
otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), directly or indirectly resulting from or based upon (a) the violation of any Environmental Law, (b) the generation, use,
handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment, or (e) any contract,
agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company,
beneficial interests in a trust or other equity interests in any Person, or any obligations convertible into or exchangeable for, or giving any Person a right, option or warrant to acquire such equity interests or such convertible or exchangeable
obligations. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with the Borrower, is treated as a
single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code. 

“ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations
issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived), (b) the existence with respect to any Plan of an “accumulated funding deficiency” (as defined in Section 412 of the Code
or Section 302 of ERISA), whether or not waived, (c) the filing pursuant to 

  
 10 

 
Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, (d) the incurrence by the Borrower or
any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan, (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an
intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan, (f) the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan, (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a
determination that a Multiemployer Plan is, or is expected to be, insolvent, within the meaning of Title IV of ERISA, (h) the occurrence of a “prohibited transaction” with respect to which the Borrower or any of the Subsidiaries is a
“disqualified person” (within the meaning of Section 4975 of the Code) or with respect to which the Borrower or any such Subsidiary could otherwise be liable, or (i) any other event or condition with respect to a Plan or
Multiemployer Plan that could result in liability of the Borrower or any Subsidiary under Title IV of ERISA. 
 “Euro”
means the single currency of the European Union as constituted by the Treaty on European Union and as referred to in the EMU Legislation. 

“Euro Overnight Rate” means, with respect to any European Swingline Loan, the London interbank offered rate as administered
by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in Euros for an overnight period as displayed on the Reuters screen page that displays such rate (currently LIBOR01) (or, in the
event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion);
provided that if the Euro Overnight Rate, determined as provided above, would be less than zero, the Euro Overnight Rate shall be zero for all purposes of this Agreement. 

“Eurocurrency”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, bear interest at a rate determined by reference to the Adjusted LIBO Rate or LIBO Rate (but no ABR Loan or ABR Borrowing will in any event be deemed to be a Eurocurrency Loan or Eurocurrency Borrowing hereunder). 

“European Swingline Loan” means a Swingline Loan denominated in Euro. 

“Event of Default” has the meaning assigned to such term in Article VII. 

“Exchange Rate” means on any day, for purposes of determining the US Dollar Equivalent of any other currency, the rate at
which such other currency may be exchanged into Dollars, as set forth at approximately 11:00 a.m., London time, on such day on the Reuters World Currency Page for such currency, or any successor or substitute

  
 11 

 
screen provided by Reuters. In the event that such rate does not appear on any Reuters World Currency Page or any successor or substitute screen provided by Reuters or its successors, the
Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Borrower. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or
deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated) and franchise Taxes, in each case (i) imposed by the jurisdiction under the laws of which such Recipient is organized or in which
its principal office is located or, in the case of any Lender, in which its applicable lending office is located or (ii) that are Other Connection Taxes, (b) any branch profits Taxes imposed by the United States of America or any similar
Tax imposed by any other jurisdiction described in clause (a) above, (c) any Taxes, including withholding taxes, imposed under FATCA, (d) in the case of a Lender, any U.S. federal withholding Tax resulting from any laws in effect and
that would apply to amounts payable to such Lender with respect to an applicable interest in a Loan or Commitment at the time such Lender acquired such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower
under Section 2.17(b)) or designates a new lending office, except to the extent that such Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from the
Borrower with respect to such withholding Taxes pursuant to Section 2.15(a), and (e) any Taxes attributable to such Recipient’s failure to comply with Section 2.15(g). 

“Existing Maturity Date” has the meaning assigned to such term in Section 2.20(a). 

“Extension Effective Date” has the meaning assigned to such term in Section 2.20(a). 

“Extension Notice” has the meaning assigned to such term in Section 2.20(a). 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version
that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, as such Code
section exists as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any applicable intergovernmental agreements with respect thereto and any fiscal or
regulatory legislation, rules or practices adopted pursuant to any of the foregoing. 
 “Federal Funds Effective Rate”
means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on

  
 12 

 
the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to
the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. Notwithstanding the foregoing, if the Federal Funds Effective
Rate, determined as provided above, would otherwise be less than zero, then the Federal Funds Effective Rate will be deemed to be zero for all purposes of this Agreement. 

“Financial Officer” means, with respect to any Person, the chief financial officer, principal accounting officer, treasurer
or controller of such Person. 
 “Fitch” means Fitch Ratings, Inc., or any successor to its rating agency business. 

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Borrower is
located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Subsidiary” means any Subsidiary that is organized under the laws of a jurisdiction other than the United States of
America or any state thereof or the District of Columbia. 
 “GAAP” means generally accepted accounting principles in the
United States of America. 
 “Governmental Authority” means the government of the United States of America, any other
nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
powers or functions of or pertaining to government (including any supra-national body exercising such powers or functions, such as the European Union or the European Central Bank). 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the
payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (d) as an account party in respect of any letter of credit or letter of guaranty issued to
support such Indebtedness or obligation; provided that the term “Guarantee” 

  
 13 

 
shall not include endorsements for collection or deposit in the ordinary course of business. 

“Hazardous Materials” means all explosive, radioactive, hazardous, or toxic substances, wastes or materials, including
petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes, and all other substances or wastes regulated pursuant to any Environmental Law. 

“Hedging Agreement” means any interest rate protection agreement, foreign currency exchange agreement, commodity price
protection agreement or other interest or currency exchange rate or commodity price hedging arrangement. 
 “Hewlett Packard
Enterprise Company Businesses” means the businesses, assets and operations of Hewlett-Packard Company and its subsidiaries that will be owned and operated by the Borrower and its Subsidiaries upon consummation of the Separation
Transactions. 
 “Incremental Facility Amendment” means an Incremental Facility Amendment, in form and substance reasonably
satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Incremental Lenders, establishing Incremental Revolving Commitments as are contemplated by Section 2.19. 

“Incremental Lender” means a Lender with an Incremental Revolving Commitment. 

“Incremental Revolving Commitment” means, with respect to any Lender, the commitment, if any, of such Lender, established
pursuant to an Incremental Facility Amendment and Section 2.19, to make Revolving Loans and to acquire participations in Swingline Loans hereunder, expressed as an amount representing the maximum aggregate permitted amount of such Lender’s
Revolving Exposure under such Incremental Facility Amendment. 
 “Incremental Revolving Facility” means an incremental
portion of the Revolving Commitments established hereunder pursuant to an Incremental Facility Amendment providing for Incremental Revolving Commitments. 

“Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with
respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements
relating to property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (e) all
Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby
has been assumed (but if such Indebtedness has not been assumed by and is otherwise non-recourse to such 

  
 14 

 
Person, only to the extent of the lesser of the fair market value of the property subject to such Lien and the amount of such Indebtedness), (f) all Guarantees by such Person of Indebtedness
of others (except to the extent that such Guarantees guarantee Indebtedness or other obligations of a Subsidiary), (g) all Capital Lease Obligations of such Person, (h) all obligations, contingent or otherwise, of such Person as an account
party in respect of letters of credit and letters of guaranty, and (i) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness of any other
entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms
of such Indebtedness provide that such Person is not liable therefor. 
 “Indemnified Taxes” means Taxes other than
Excluded Taxes. 
 “Index Debt” means senior unsecured long-term indebtedness for borrowed money of the Borrower that is
not guaranteed by any other Person or subject to any other credit enhancement. 
 “Information” has the meaning assigned to
such term in Section 9.12. 
 “Information Statement” means the amended Form 10 Information Statement and related
registration statement relating to the Separation Transactions filed by the Borrower and Hewlett-Packard Company with the SEC on September 28, 2015. 

“Interest Election Request” means a request by the Borrower to convert or continue a Revolving Borrowing in accordance with
Section 2.06. 
 “Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline Loan),
the last day of each March, June, September and December, (b) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency Borrowing
with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period, and (c) with respect
to any Swingline Loan, the day that such Loan is required to be repaid. 
 “Interest Period” means, with respect to any
Eurocurrency Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, if available to each Lender, seven or 14 days or nine or 12
months) thereafter, as the Borrower may elect; provided that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding
Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and (ii) any Interest Period pertaining to a Eurocurrency Borrowing that commences on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last 

  
 15 

 
Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be
the effective date of the most recent conversion or continuation of such Borrowing. 
 “Interpolated Rate” means, with
respect to any Eurocurrency Borrowing for any Impacted Interest Period, a rate per annum which results from interpolating on a linear basis between (a) the applicable Screen Rate for the longest maturity for which a Screen Rate is available
that is shorter than such Impacted Interest Period and (b) the applicable Screen Rate for the shortest maturity for which a Screen Rate is available that is longer than such Impacted Interest Period, in each case at approximately 11:00 a.m.,
London time, two Business Days prior to the commencement of such Interest Period (or in the case of a Eurocurrency Borrowing denominated in Sterling, at approximately 11:00 a.m., London time, on the date of such Borrowing). 

“Judgment Currency” has the meaning assigned to such term in Section 9.15(b). 

“Lender Parent” means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a
subsidiary. 
 “Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a party
hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the context requires otherwise, the term “Lenders” includes the Swingline
Lenders. 
 “LIBO Rate” means, with respect to any Eurocurrency Borrowing in any currency for any Interest Period, the rate
equal to the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in the applicable currency (for delivery on the first day of such
Interest Period) for a period equal in length to such Interest Period with a term equivalent to such Interest Period as displayed on the Reuters screen page that displays such rate (currently page LIBOR01) or, in the event such rate does not appear
on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion (in each case, the “Screen
Rate”), at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period (or in the case of a Borrowing denominated in Sterling, at approximately 11:00 a.m. on the date of such Borrowing);
provided that if the LIBO Screen Rate is less than zero, such rate will be deemed to be zero for purposes of this Agreement; provided, further, that if the Screen Rate shall not be available at such time for such Interest Period
(an “Impacted Interest Period”) with respect to the applicable currency, then the LIBO Rate will be the Interpolated Rate; provided that if any Interpolated Rate is less than zero, such rate will be deemed to be zero for
purposes of this Agreement. 

  
 16 

 “Lien” means, with respect to any asset, (a) any mortgage, deed of trust,
lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease
having substantially the same economic effect as any of the foregoing but excluding any operating leases) relating to such asset. 

“Loan Documents” means this Agreement, including without limitation, schedules and exhibits hereto) and any agreements
entered into by the Borrower with or in favor of the Administrative Agent and/or the Lenders in connection with this Agreement, including any promissory notes delivered pursuant to Section 2.08(e) and any amendments, modifications or
supplements thereto or waivers thereof. 
 “Loans” means the loans made by the Lenders to the Borrower pursuant to this
Agreement. 
 “Local Time” means (a) with respect to a Loan or Borrowing denominated in Dollars, New York City
time, and (b) with respect to a Loan or Borrowing denominated in any Designated Foreign Currency, London time. 
 “Margin
Stock” means “margin stock” as defined in Regulation U. 
 “Material Adverse Effect” means a material
adverse effect on (a) the actual business, assets, operations and financial condition of the Borrower and the Subsidiaries, taken as a whole, (b) the ability of the Borrower to perform any of its material obligations under this Agreement,
or (c) the rights of or benefits available to the Lenders under this Agreement. 
 “Material Indebtedness” means
Indebtedness (other than the Loans), or obligations in respect of one or more Hedging Agreements, of any one or more of the Borrower and the Subsidiaries in an aggregate principal amount exceeding $250,000,000. For purposes of determining Material
Indebtedness, the “principal amount” of the obligations of the Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Borrower or
such Subsidiary would be required to pay if such Hedging Agreement were terminated at such time. 
 “Material Subsidiary”
means each Significant Subsidiary and any two or more Subsidiaries (which may but need not include a Significant Subsidiary) each of which has become the subject of any event or circumstance referred to in clause (h), (i) or (j) of Article
VII, and which, if considered together as a single consolidated Subsidiary, would collectively constitute a “Significant Subsidiary” within the meaning of the definition of such term herein. 

“Maturity Date” means the fifth anniversary of the Effective Date, as such date may be extended pursuant to Section 2.20
hereof; provided that, if such date is not a Business Day, the Maturity Date shall be the immediately preceding Business Day. 

  
 17 

 “Moody’s” means Moody’s Investors Service, Inc., or any successor
thereto. 
 “Multicurrency Swingline Loan” means a European Swingline Loan or a UK Swingline Loan. 

“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection
between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a
security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes” means any and all present or future recording, stamp, court or documentary, intangible, filing or similar
Taxes, charges or levies arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with
respect to the sale of a participation interest or an assignment (other than an assignment made pursuant to Section 2.17(b)). 

“Participant” has the meaning assigned to such term in Section 9.04(e). 

“Participant Register” has the meaning assigned to such term in Section 9.04(e). 

“Patriot Act” has the meaning assigned to such term in Section 9.14. 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing
similar functions. 
 “Permitted Encumbrances” means 

(i) Liens imposed by law for taxes that are not yet due or are being contested in compliance with Section 5.04, 

(ii) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by
law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in compliance with Section 5.04, 

(iii) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment
insurance and other social security laws or regulations, 

  
 18 

 (iv) margin deposits posted to secure obligations in respect of Hedging
Agreements entered into in the ordinary course of business; 
 (v) pledges of cash and deposits to secure the performance of
bids, trade and commercial contracts (including ordinary course accounts payable), leases, statutory obligations, appeal bonds and other obligations of a like nature, in each case in the ordinary course of business, 

(vi) deposits and customary pledges securing obligations under surety and performance bonds, 

(vii) judgment liens (and pledges of cash and deposits securing surety and appeal bonds) in respect of judgments that do not
constitute an Event of Default under clause (k) of Article VII, 
 (viii) easements, zoning restrictions,
rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with
the ordinary conduct of business of the Borrower or any Subsidiary, and 
 (ix) Liens under ordinary course commercial
contracts securing trade payables covering the goods purchased (and proceeds and products thereof), pending payment; 
 provided that the term
“Permitted Encumbrances” shall not include any Lien securing Indebtedness. 
 “Person” means any natural person,
corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

“Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of
ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as
defined in Section 3(5) of ERISA. 
 “Platform” has the meaning assigned to such term in Section 5.01(e). 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its
prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

“Public-Sider” means a Lender or any representative of such Lender that does not want to receive material non-public
information within the meaning of the federal and state securities laws. 

  
 19 

 “Ratings” means, as of any date of determination, the Index Debt ratings of the
Borrower that have been most recently assigned by S&P, Moody’s or Fitch. For purposes of the foregoing, (a) if any of S&P, Moody’s or Fitch shall not have in effect a Rating for the Index Debt (other than by reason of the
circumstances referred to in the last sentence of this definition), then such rating agency shall be deemed to have established a Rating in Category 6 under the definition of the term Applicable Rate, (b) if the Ratings established or deemed to
have been established by S&P, Moody’s and Fitch for the Index Debt shall fall within different Categories, (i) if two of the Ratings fall within the same Category and the other Rating is one Category higher or one Category lower than
the two same Ratings, the Applicable Rate shall be based on the two Ratings within the same Category, (ii) if two of the Ratings fall within the same Category and the other Rating is two or more Categories above the two same Ratings, the
Applicable Rate shall be determined by reference to the Category next above that of the two same Ratings, (iii) if two of the Ratings are in the same Category and the other Rating is two or more Categories below the two same Ratings, the
Applicable Rate shall be determined by reference to the Category next below that of the two same Ratings, and (iv) if each of the three Ratings fall within different Categories, then the Applicable Rate shall be based on the assigned Rating
that is in between the highest and the lowest of such Ratings, and (c) if the Ratings established or deemed to have been established by S&P, Moody’s and Fitch for the Index Debt shall be changed (other than as a result of a change in
the rating system of S&P, Moody’s or Fitch), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Rate shall apply during the period commencing on the
effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of S&P, Moody’s or Fitch shall change, if any such rating agency shall cease to be in the business
of rating corporate debt obligations or if any such rating agency shall cease to rate any Index Debt of the Borrower (and such decision is not based directly or indirectly on any action taken by the Borrower, or the failure by the Borrower to take
any action, in each case with respect to such rating agency or otherwise), the Borrower and the Lenders shall negotiate in good faith to amend the definition of Applicable Rate to reflect such changed rating system or the unavailability of Ratings
from such rating agency and, pending the effectiveness of any such amendment, the Applicable Rate shall be determined by reference to the Rating most recently in effect prior to such change or cessation. 

“Recipient” means (a) the Administrative Agent, and (b) any Lender, as applicable. 

“Register” has the meaning set forth in Section 9.04(c). 

“Regulation D” means Regulation D of the Board from time to time in effect and all official rulings and interpretations
thereunder or thereof. 
 “Regulation T” means Regulation T of the Board from time to time in effect and all official
rulings and interpretations thereunder or thereof. 

  
 20 

 “Regulation U” means Regulation U of the Board from time to time in effect and
all official rulings and interpretations thereunder or thereof. 
 “Regulation X” means Regulation X of the Board from time
to time in effect and all official rulings and interpretations thereunder or thereof. 
 “Related Parties” means, with
respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees and agents of such Person and such Person’s Affiliates. 

“Required Lenders” means, at any time, Lenders having Revolving Exposures and unused Revolving Commitments representing more
than 50% of the sum, without duplication, of the total Revolving Exposures and unused Revolving Commitments at such time; provided that, whenever there is one or more Defaulting Lenders, the Revolving Exposure of, and the unused Revolving
Commitment of, each Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 
 “Revolving
Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make Revolving Loans and to acquire participations in Swingline Loans hereunder, expressed as an amount representing the maximum aggregate permitted
amount of such Lender’s Revolving Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.07, (b) increased or established from time to time pursuant to Section 2.19 and
(c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Revolving Commitment is set forth on Schedule 2.01, or in the Assignment and
Assumption or the Incremental Facility Amendment pursuant to which such Lender shall have assumed its Revolving Commitment, as applicable. The initial aggregate amount of the Lenders’ Revolving Commitments is $4,000,000,000. 

“Revolving Exposure” means, at any time, the sum of (a) the US Dollar Equivalent of Revolving Loans outstanding at such
time and (b) the Swingline Exposure at such time. The Revolving Exposure of any Lender at any time shall be such Lender’s Applicable Percentage of the total Revolving Exposure at such time. 

“Revolving Loan” means a Loan made pursuant to Section 2.01. 

“Sale and Leaseback Transaction” means any arrangement whereby the Borrower or a Subsidiary shall sell or transfer any
property, real or personal, used or useful in its business, whether now owned or hereinafter acquired, and thereafter rent or lease from the buyer or transferee of the sold or transferred property that it intends to use for substantially the same
purpose or purposes as the property sold or transferred; provided that any (i) such sale of any fixed or capital assets that is made for cash consideration in an amount not less than the cost of such fixed or capital asset and is
consummated within 90 days after the acquisition or completion of the fixed or capital asset and (ii) any such transaction effected entirely between the Borrower and any 

  
 21 

 
Subsidiaries or entirely between one or more Subsidiaries shall not be deemed to be a Sale and Leaseback Transaction. 

“Sanctioned Country” means, at any time, a country or territory which is the target of comprehensive Sanctions (at the time
of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria). 
 “Sanctioned Person” means, at any time,
(a) any Person listed in any Sanctions-related list of designated or blocked Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security
Council, the European Union or any EU member state, (b) any Person organized or ordinarily resident in a Sanctioned Country or (c) any Person owned or controlled by, or acting on behalf of, any such Person described in the foregoing
clauses (a) and (b). 
 “Sanctions” means economic or financial measures against targeted countries, governments,
territories, individuals, entities or vessels, as enumerated in national legislation, regulation or other mechanism carrying the force of law, and which are imposed, administered or enforced from time to time by (a) the U.S. government,
including the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the European Union or Her Majesty’s Treasury of the United Kingdom. 

“Screen Rate” has the meaning set forth in the definition of “LIBO Rate”. 

“SEC” means the United States Securities and Exchange Commission. 

“Securitization Transaction” means the sale or transfer by the Borrower or the Subsidiaries of lease and other accounts
receivable to a limited purpose financing vehicle (which may be a Subsidiary) which finances such acquisition, in part, by issuing debt securities or equity interests to third parties either directly or through one or more intermediaries, in each
case in a manner that does not result in either (i) the incurrence by the Borrower or the Subsidiaries of Indebtedness that would be reflected on a consolidated balance sheet of the Borrower and the Subsidiaries prepared in accordance with GAAP
or (ii) the incurrence by the Borrower or the Subsidiaries of Indebtedness with recourse to the Borrower or the Subsidiaries (other than recourse against the Borrower’s or such Subsidiaries’ retained interest in the limited purpose
financing vehicle which finances the acquisition of the lease or other accounts receivable). 
 “Separation Transactions”
means the (i) transfer of substantially all the assets, liabilities and operations of the enterprise technology, infrastructure, software, services and financing businesses from the Hewlett-Packard Company to the Borrower and Subsidiaries of
the Borrower and (ii) distribution by Hewlett-Packard Company to its shareholders, on a pro-rata basis, of all the outstanding shares of the Borrower’s common stock (the “Spin-Off”), in each case, in accordance in all
material respects with, and as described in, the Information Statement. 

  
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 “Significant Subsidiary” means any Subsidiary (i) the net assets of which
were greater than 5% of Consolidated Net Assets as of the last day of the most recent fiscal period for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, prior to the first delivery of such financial
statements, greater than 5% of Consolidated Net Assets as of the date of the most recent financial statements referred to in Section 3.04(a)) or (ii) the total revenues of which were greater than 10% of Consolidated Total Revenues for the
four-fiscal-quarter period ending on the last day of the most recent fiscal period for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, prior to the first delivery of such financial statements, greater
than 10% of Consolidated Total Revenues for the four-fiscal-quarter period ending on the last day of the most recent fiscal period set forth in the most recent financial statements referred to in Section 3.04(a)). For purposes of making the
determinations required by this definition, total revenues and net assets of Foreign Subsidiaries shall be converted into Dollars at the rates used in preparing the financial statements of the Borrower to be delivered pursuant to
Section 5.01(a) or (b) (or, prior to the first delivery of such financial statements, at the rates used in preparing the Borrower’s most recent financial statements referred to in Section 3.04(a)). 

“S&P” means Standard & Poor’s Ratings Services LLC, a subsidiary of McGraw Hill Financial, Inc. 

“Statutory Reserve Rate” means a percentage expressed as a decimal equal to the aggregate of the maximum reserve percentages
(including any marginal, special, emergency or supplemental reserves) established by the Board to which the Administrative Agent or any Lender is subject, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in
Regulation D). Such reserve percentages shall include those imposed pursuant to such Regulation D. Eurocurrency Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for
proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. 

“Sterling” means the lawful money of the United Kingdom. 

“Sterling Overnight Rate” means, with respect to any UK Swingline Loan, the London interbank offered rate as administered by
the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in Sterling for an overnight period as displayed on the Reuters screen page that displays such rate (currently LIBOR01) (or, in the
event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion);
provided that if the Sterling Overnight Rate, determined as provided above, would be less than zero, the Sterling Overnight Rate shall be zero for all purposes of this Agreement. 

“subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited
liability company, partnership, association or other entity (a) the accounts of which would be consolidated with those of the parent in the parent’s 

  
 23 

 
consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, (b) of which securities or other ownership interests representing more
than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (c) that is, as of such date,
otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. 

“Subsidiary” means any subsidiary of the Borrower. 

“Swingline Commitment” means, with respect to a Swingline Lender, the commitment of such Lender to make Swingline Loans in an
aggregate principal amount at any time outstanding not in excess of the US Dollar Equivalent amount set forth with respect to such Swingline Lender on Schedule 2.01. The initial aggregate amount of the Swingline Commitments is US$1,500,000,000. 

“Swingline Exposure” means at any time, the sum of the US Dollar Equivalents of the outstanding Swingline Loans at such time.
The Swingline Exposure of any Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time. 

“Swingline Lender” means each Lender with a Swingline Commitment referred to as such in Schedule 2.01. 

“Swingline Loan” means a Loan made pursuant to Section 2.04. 

“Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by
any Governmental Authority. 
 “Total Leverage Ratio” means on any date of determination, the ratio of
(a) Consolidated Total Debt on such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended on or prior to such date. 

“Transactions” means the execution, delivery and performance by the Borrower of this Agreement, the borrowing of Loans, the
use of the proceeds thereof, and the transactions to be effected on the Effective Date. 
 “Type”, when used in reference
to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the LIBO Rate (including the Adjusted LIBO Rate) or the Alternate Base Rate. 

“UK Swingline Loan” means a Swingline Loan denominated in Sterling. 

“US Dollar Equivalent” means, on any date of determination, (a) with respect to any amount in Dollars, such amount, and
(b) with respect to any amount in any Designated Foreign Currency, the equivalent in Dollars of such amount, determined by 

  
 24 

 
the Administrative Agent pursuant to Section 1.05 using the Exchange Rate with respect to such Designated Foreign Currency at the time in effect for such amount under the provisions of such
Section. 
 “US Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30)
of the Code. 
 “US Swingline Loan” means a Swingline Loan denominated in US Dollars. 

“Wholly Owned Subsidiary” means a Subsidiary of which securities or other ownership interests (except for directors’
qualifying shares and other de minimis amounts of outstanding securities or ownership interests) representing 100% of the ordinary voting power or, in the case of a partnership, 100% of the general partnership interests are, at the
time any determination is being made, owned, controlled or held by the Borrower or one or more Wholly Owned Subsidiaries of the Borrower or by the Borrower and one or more Wholly Owned Subsidiaries of the Borrower. 

“Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 SECTION 1.02. Classification of Loans and
Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurocurrency Loan”) or by Class and Type (e.g., a
“Eurocurrency Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a
“Eurocurrency Revolving Borrowing”). 
 SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally
to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including”
shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (a) any
definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein), (b) any reference to any statute, regulation or other law shall be construed (i) as referring to such statute, regulation or other law as from time to time
amended, supplemented or otherwise modified (including by succession of comparable successor statutes, regulations or other laws) and (ii) to include all official rulings and interpretations thereunder, (c) any reference herein to any
Person shall be construed to include such Person’s successors and assigns, (d) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its
entirety and not to any particular provision hereof, (e) all references herein to Articles, Sections, 

  
 25 

 
Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (f) the phrase “to the best of the knowledge” shall
mean the belief of the officers of the Borrower and the Subsidiaries directly participating in or associated with the due diligence and negotiations in connection with the Transactions, and (g) the words “asset” and
“property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein, including in the definition of “Capital Lease
Obligations”, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent that the Borrower requests an
amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required
Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP
as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 

SECTION 1.05. Exchange Rates. The Administrative Agent shall determine the US Dollar Equivalent of any Borrowing (other than a
Swingline Loan) denominated in a currency other than Dollars as of the date of the commencement of the initial Interest Period therefor and as of the last Business Day of each calendar month, in each case using the Exchange Rate for such currency in
relation to Dollars in effect on the date that is three Business Days prior to the date on which the initial Interest Period shall commence or the last Business Day of a calendar month, as the case may be, and each such amount shall, except as
provided in the last sentence of this Section, be the US Dollar Equivalent of such Borrowing until the next required calculation thereof pursuant to this sentence. The Administrative Agent shall determine the US Dollar Equivalent of any Swingline
Loan denominated in Euro or Sterling as of the date on which such Loan is made, using the Exchange Rate for Euro or Sterling, as the case may be, in relation to Dollars in effect on such date, and each such amount shall, except as provided in the
last sentence of this Section, be the US Dollar Equivalent of such Swingline Loan. The Administrative Agent shall notify the Borrower and the Lenders of each calculation of the US Dollar Equivalent of each Borrowing. For purposes of
Section 6.05, amounts in currencies other than Dollars shall be translated into Dollars at the currency exchange rates used in preparing the Borrower’s annual and quarterly financial statements. 

ARTICLE II 
 The Credits

 SECTION 2.01. Commitments. Subject to the terms and conditions and relying on the representations and warranties (subject to
Section 4.02(a)) set forth herein, 

  
 26 

 
each Lender agrees, severally and not jointly, to make Revolving Loans to the Borrower from time to time during the Availability Period in Dollars or a Designated Foreign Currency in an aggregate
principal amount that will not result in (i) such Lender’s Revolving Exposure exceeding such Lender’s Revolving Commitment or (ii) the sum of the total Revolving Exposures exceeding the total Revolving Commitments. Within the
foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans during the Availability Period. 

SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans of
the same Type and denominated in the same currency made by the Lenders ratably in accordance with their individual Revolving Commitments. The failure of any Lender to make any Revolving Loan required to be made by it shall not relieve any other
Lender of its obligations hereunder; provided that the Revolving Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Revolving Loans as required. 

(b) Subject to Section 2.12, (i) each Revolving Borrowing denominated in Dollars shall be comprised entirely of
(A) Eurocurrency Loans or (B) ABR Loans, as the Borrower may request in accordance herewith, and each Revolving Borrowing denominated in a Designated Foreign Currency shall be comprised entirely of Eurocurrency Loans. Each Lender at its
option may make any Eurocurrency Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in
accordance with the terms of this Agreement. 
 (c) At the commencement of each Interest Period for any Eurocurrency
Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum. At the time that each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate
amount that is an integral multiple of $5,000,000 and not less than $25,000,000. Each Swingline Loan shall be in an amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum. Borrowings of more than one
Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a total of 10 Eurocurrency Revolving Borrowings outstanding. 

(d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to
convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 
 SECTION 2.03.
Requests for Revolving Borrowings. To request a Revolving Borrowing, the Borrower shall notify the Administrative Agent of such request, (a) in the case of a Eurocurrency Borrowing, by a written Borrowing Request not later than
12:00 noon, Local Time, three Business Days before the date of the proposed 

  
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Borrowing or (b) in the case of an ABR Borrowing, by telephone or by telecopy not later than 12:00 noon, Local Time, on the Business Day of the proposed Borrowing. Each such Borrowing
Request shall be irrevocable and, if telephonic, shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form agreed to by the Administrative Agent and the Borrower and signed by the
Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02: 

(i) the currency and aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) the Type of the requested Borrowing; 

(iv) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period
contemplated by the definition of the term “Interest Period”; and 
 (v) the location and number of the
Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.05. 
 If no election as to the Type
of Revolving Borrowing is specified, then the requested Revolving Borrowing shall be (A) in the case of a Borrowing denominated in Dollars, an ABR Borrowing, and (B) in the case of a Borrowing denominated in a Designated Foreign Currency,
a Eurocurrency Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency Revolving Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Any Borrowing Request
that shall fail to specify any of the information required by clause (i), (ii) or (v) of the immediately preceding paragraph may be rejected by the Administrative Agent if such failure is not corrected promptly after the Administrative
Agent shall give written or telephonic notice thereof to the Borrower and, if so rejected, will be of no force or effect. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each
Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 
 SECTION 2.04.
Swingline Loans. (a) Subject to the terms and conditions set forth herein, each Swingline Lender agrees to make Swingline Loans to the Borrower denominated in Dollars or Designated Foreign Currencies from time to time during the
Availability Period, in an aggregate amount at any time outstanding that will not result in (i) the Swingline Exposure exceeding US$1,500,000,000, (ii) the aggregate Dollar Equivalent amount of outstanding Swingline Loans made by any
Swingline Lender exceeding such Lender’s Swingline Commitment, (iii) the aggregate Dollar Equivalent Amount of such Swingline Lender’s outstanding Revolving Loans and Swingline Loans (including participations in outstanding Swingline
Loans) exceeding the amount of such Swingline Lender’s Revolving Commitment, or (iv) the aggregate Revolving Exposure exceeding the aggregate amount of the Revolving Commitments; provided that no Swingline Lender shall be required
to make a Swingline Loan to 

  
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refinance an outstanding Swingline Loan. Each Swingline Loan denominated in Dollars will be an ABR Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the
Borrower may borrow, prepay and reborrow Swingline Loans. 
 (b) To request a Swingline Loan, the Borrower shall notify the
Administrative Agent of such request in writing (or, in the case of a US Swingline Loan, by telephone (confirmed by telecopy)) not later than (i) 12:00 noon, Local Time, on the day of any such proposed US Swingline Loans and (ii) 10:00
a.m., Local Time, on the day of any such proposed European Swingline Loans or UK Swingline Loans. Each such notice shall be irrevocable and shall specify the requested borrowing date (which shall be a Business Day), the currency and the aggregate
principal amount of the requested Swingline Loan (which shall comply with Section 2.02(c)). The Administrative Agent will promptly notify each Swingline Lender of any such notice received from the Borrower and of such Swingline Lender’s
share of the requested Swingline Borrowing. Each Swingline Lender shall make its share of each requested Swingline Loan available to the Borrower (pro rata in accordance with the relative amounts of the Swingline Commitments of the Swingline
Lenders) in the requested currency by means of a transfer of funds by 2:00 p.m., Local Time, on the requested date of such Swingline Loan, (i) to the Applicable Funding Account, in the case of US Swingline Loans, and (ii) to the account of
the Administrative Agent most recently designated by it for such purpose, in the case of Multicurrency Swingline Loans. The Administrative Agent will make such Multicurrency Swingline Loans available to the Borrower by promptly transferring the
amounts so received pursuant to clause (ii) of the immediately preceding sentence, in like funds, to the Applicable Funding Account. 

(c) Any Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., Local Time, on any
Business Day require the Lenders to acquire and fund participations on such Business Day in all or a portion of the Swingline Loans of such Swingline Lender outstanding. Such notice shall specify the aggregate amount and currency of the Swingline
Loans in which the Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Lender, specifying in such notice each Lender’s share, based on such Lender’s Applicable
Percentage, of such Swingline Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent (in Dollars or the relevant Designated Foreign Currency, as the case may be),
for the account of the applicable Swingline Lender, such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its obligation to acquire and fund participations in Swingline Loans pursuant to
this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made
without any offset, abatement, withholding or reduction whatsoever. Each Lender shall comply with its obligations under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.05 with respect
to 

  
 29 

 
Loans made by such Lender (and Section 2.05, including with respect to interest payable in respect of unfunded amounts, shall apply, mutatis mutandis, to the payment
obligations of the Lenders), and the Administrative Agent shall promptly pay to the applicable Swingline Lender the amounts so received by it from the Lenders. The Administrative Agent shall notify the Borrower of any participations in any Swingline
Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the applicable Swingline Lender. Any amounts received by a Swingline Lender from the Borrower
(or other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by such Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by
the Administrative Agent shall be promptly remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the applicable Swingline Lender, as their interests may appear; provided that
any such payment so remitted shall be repaid to the applicable Swingline Lender or to the Administrative Agent, as the case may be, if and to the extent such payment is required to be refunded to the Borrower for any reason. The purchase of
participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower of any default in the payment thereof. Notwithstanding the foregoing, a Lender shall not have any obligation to acquire a participation in a Swingline Loan
pursuant to this paragraph if an Event of Default shall have occurred and be continuing at the time such Swingline Loan was made and such Lender shall have notified the applicable Swingline Lender in writing, at least one Business Day prior to the
time such Swingline Loan was made, that such Event of Default has occurred and that such Lender will not acquire participations in Swingline Loans made while such Event of Default is continuing. 

(d) Notwithstanding anything to the contrary in this Agreement, if any Swingline Exposure exists at the time a Lender becomes a
Defaulting Lender, (i) the Borrower shall make arrangements satisfactory to the Swingline Lenders eliminating the risk of the Swingline Lenders with respect to each Defaulting Lender’s participation therein or (ii) in the event no
such satisfactory arrangements are made, the Borrower shall be required to prepay the outstanding Swingline Loans in an amount equal to the Swingline Exposure of the Defaulting Lender or, if agreed by each Swingline Lender, cash collateralize
Swingline Loans in the amount of the Swingline Exposure of the Defaulting Lender on terms satisfactory to each Swingline Lender (in which case any such cash collateral held by a Swingline Lender will be applied as a payment of Swingline Loans
immediately prior to any exercise by such Swingline Lender of its rights to require the funding of participations in such Loans pursuant to Section 2.04(c)). In the event the Borrower prepays or cash collateralizes the Swingline Loans in the
amount of the Swingline Exposure of the Defaulting Lender pursuant to clause (ii) above, then the Lenders other than the Defaulting Lender will be required to fund participations in the remaining Swingline Loans under Section 2.04(c) in
accordance with their Applicable Percentages determined, in accordance with the definition of such term herein, without taking into account the Commitment of such Defaulting Lender (it 

  
 30 

 
being understood that such funding of participations shall not result in such Lender’s Revolving Exposure exceeding such Lender’s Revolving Commitment). 

SECTION 2.05. Funding of Borrowings. (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof
by wire transfer of immediately available funds in the applicable currency, in the case of a Eurocurrency Loan by 12:00 noon, Local Time, and in the case of an ABR Loan by 2:00 p.m., Local Time, to the account of the Administrative Agent most
recently designated by it for such purpose by notice to the Lenders; provided that Swingline Loans shall be made as provided in Section 2.04. The Administrative Agent will make such Loans available to the Borrower by promptly crediting
the amounts so received, in like funds, to the Applicable Funding Account. 
 (b) Unless the Administrative Agent shall have
received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made
such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share
of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from
and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, (x) in the case of Loans in Dollars, the greater of (A) the
Federal Funds Effective Rate and (B) a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation and (y) in the case of Loans in Designated Foreign Currencies, the rate reasonably
determined by the Administrative Agent to be the cost to it of funding such amount, or (ii) in the case of the Borrower, the interest rate applicable to a Swingline Loan in the relevant currency. If such Lender pays such amount to the
Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 
 SECTION 2.06. Interest
Elections. (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Borrowing, shall have an initial Interest Period as specified in such Borrowing Request.
Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect
different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion
shall be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued. 

  
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 (b) To make an election pursuant to this Section, the Borrower shall notify the
Administrative Agent of such election by telephone by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type and in the currency resulting from such election to
be made on the effective date of such election; provided that any notice of election to convert a Eurocurrency Borrowing into an ABR Borrowing at the end of its then-current Interest Period must be made by the time that a Borrowing Request
for a Eurocurrency Borrowing would be required under Section 2.03. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written
Interest Election Request in a form approved by the Administrative Agent and signed by the Borrower. Notwithstanding any other provision of this Section, the Borrower will not be permitted to change the currency of any Borrowing. 

(c) Each telephonic and written Interest Election Request shall specify the following information in compliance with
Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and, if different options are being
elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each
resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election Request, which shall
be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; and 

(iv) if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period to be applicable thereto after giving effect
to such election, which shall be a period contemplated by the definition of the term “Interest Period.” 
 If any such Interest Election Request
requests a Eurocurrency Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

(d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the
details thereof and of such Lender’s portion of each resulting Borrowing. 
 (e) If the Borrower fails to deliver a
timely Interest Election Request with respect to a Eurocurrency Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall
be converted to a one-month Eurocurrency Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower,
then, so long as an Event 

  
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of Default is continuing (i) no outstanding Borrowing denominated in Dollars may be converted to or continued as a Eurocurrency Borrowing and (ii) unless repaid, each Eurocurrency
Borrowing denominated in Dollars shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 
 SECTION
2.07. Termination and Reduction of Commitments. (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date. 

(b) The Borrower may at any time terminate, or from time to time reduce, the Revolving Commitments; provided that
(i) each reduction of the Revolving Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $25,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving
effect to any concurrent prepayment of the Loans in accordance with Section 2.09, the aggregate Revolving Exposures would exceed the aggregate Revolving Commitments . 

(c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Commitments under
paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative
Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrower may
state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition
is not satisfied. Any termination or reduction of the Revolving Commitments shall be permanent. Each reduction of the Revolving Commitments shall be made ratably among the Lenders in accordance with their individual Applicable Percentages. 

SECTION 2.08. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay (i) to the
Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan (other than a Swingline Loan) on the Maturity Date, and (ii) to the applicable Swingline Lender the then unpaid principal amount of each
Swingline Loan on the earlier of the Maturity Date and the first date after such Swingline Loan is made that is the 15th or the last day of a calendar month and is at least five Business Days after the date on which such Swingline Loan is made;
provided that, on each date that a Revolving Borrowing is made in any currency, the Borrower shall repay all Swingline Loans denominated in such currency that were outstanding on the date such Borrowing was requested. 

(b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the
Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

  
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 (c) The Administrative Agent shall maintain accounts in which it shall record
(i) the amount and currency of each Loan made hereunder, the Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each
Lender hereunder, and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 

(d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie
evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the
Borrower to repay the Loans in accordance with the terms of this Agreement. 
 (e) Any Lender may request that Loans made by
it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns)
and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory
notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

SECTION 2.09. Prepayment of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing
in whole or in part, subject to prior notice in accordance with paragraph (d) of this Section and payment of any amounts required under Section 2.14. 

(b) In the event and on each occasion that the sum of the total Revolving Exposures exceeds the total Revolving Commitments,
then (i) on the last day of any Interest Period for any Eurocurrency Borrowing and (ii) on each other date on which any ABR Revolving Borrowing or Swingline Loan shall be outstanding, the Borrower shall prepay Loans in an aggregate amount
equal to the lesser of (A) the amount necessary to eliminate such excess (after giving effect to any other prepayment of Loans on such day) and (B) the amount of the applicable Revolving Borrowings and Swingline Loans referred to in clause
(i) or (ii), as applicable; provided, however, that, in any event, the Borrower shall prepay Revolving Loans or Swingline Loans in an aggregate amount sufficient to eliminate such excess by the 90th day after such excess first
arises. If at any time the sum of the total Revolving Exposures exceeds 105% of the total Revolving Commitments, then the Borrower shall, not later than the next Business Day, prepay one or more Borrowings in an aggregate principal amount sufficient
to (x) reduce the sum of the total Revolving Exposures to an amount not in excess of the total Revolving Commitments. 

  
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 (c) Prior to any prepayment of Borrowings the Borrower shall select the Borrowing
or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to paragraph (d) below. 

(d) The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline
Lenders) by telephone (confirmed by telecopy) or by telecopy of any prepayment hereunder (i) in the case of prepayment of a Eurocurrency Revolving Borrowing, not later than 12:00 noon, Local Time, three Business Days before the date of
prepayment, (ii) in the case of prepayment of an ABR Revolving Borrowing or a US Swingline Borrowing, not later than 12:00 noon, Local Time, on the Business Day of prepayment and (iii) in the case of a prepayment of a Multicurrency
Swingline Borrowing, by 10:00 a.m., Local Time, on the Business Day of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof, to be prepaid;
provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.07, then such notice of prepayment may be revoked if such notice of termination is
revoked in accordance with Section 2.07. Promptly following receipt of any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each partial prepayment of any
Revolving Borrowing shall be in an amount that would be permitted in the case of a Revolving Borrowing of the same Type as provided in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the
prepaid Borrowing, and each prepayment of a Swingline Borrowing shall be applied ratably to the Swingline Loans (or participations therein) included in such prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent
required by Section 2.11. 
 SECTION 2.10. Fees. (a) The Borrower agrees to pay to the Administrative Agent for the account
of each Lender a commitment fee at a per annum rate equal to the Applicable Rate in effect from time to time applied to the daily unused amount of the Revolving Commitment of such Lender during the period from and including the Effective Date to but
excluding the Maturity Date or such earlier date on which the Revolving Commitments terminate. Accrued commitment fees shall be payable in arrears on the last day of March, June, September and December of each year and on the date on which
the Revolving Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day). 
 (b) The Borrower agrees to pay the Administrative Agent, for its own account,
the fees in the amounts and at the times previously agreed upon by the Borrower and the Administrative Agent. 
 (c) All fees
payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution, in the case of commitment fees, to the Lenders. 

  
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 SECTION 2.11. Interest. (a) The Loans comprising each ABR Borrowing shall bear
interest at the Alternate Base Rate plus the Applicable Rate. 
 (b) The Loans comprising each Eurocurrency Borrowing shall
bear interest at the Adjusted LIBO Rate, in the case of Borrowings in Dollars, and at the LIBO Rate, in the case of Borrowings in a Designated Foreign Currency, for the Interest Period in effect for such Borrowing plus the Applicable Rate. 

(c) Each Swingline Loan shall bear interest (i) in the case of a US Swingline Loan, at the Alternate Base Rate plus the
Applicable Rate, (ii) in the case of a European Swingline Loan, at the Euro Overnight Rate plus the Applicable Rate applicable to Eurocurrency Loans, and (iii) in the case of a UK Swingline Loan, at the Sterling Overnight Rate plus the
Applicable Rate applicable to Eurocurrency Loans. 
 (d) Notwithstanding the foregoing, if any principal of or interest on
any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest from the date on which such amount became due until such
amount is paid in full, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section
or (ii) in the case of any other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section. 

(e) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of
Revolving Loans, upon termination of the Revolving Commitments; provided that (i) interest accrued pursuant to paragraph (d) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any
Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event
of any conversion of any Eurocurrency Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. All interest shall be payable in the currency in which the
applicable Loan is denominated. 
 (f) All interest hereunder shall be computed on the basis of a year of 360 days, except
that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and interest on any Loan denominated in
Sterling shall be computed on the basis of a year of 365 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or
LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 

  
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 SECTION 2.12. Alternate Rate of Interest. If prior to the commencement of any Interest
Period for a Eurocurrency Borrowing: 
 (i) the Administrative Agent determines (which determination shall be conclusive
absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or 

(ii) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable,
for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period; 

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable thereafter and,
until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any
Borrowing as, a Eurocurrency Borrowing of the affected type (including Loans denominated in a particular currency, as applicable) shall be ineffective, and such Borrowing shall be converted to or continued on the last day of the Interest Period
applicable thereto as (A) if such Borrowing is denominated in Dollars, an ABR Revolving Borrowing, or (B) if such Borrowing is denominated in any other currency, a Revolving Borrowing bearing interest at such rate as the affected Lenders
and the Borrower may agree adequately reflects the costs to such Lenders of making or maintaining their Loans (or, in the absence of such agreement, shall be repaid as of the last day of the current Interest Period applicable thereto), and
(ii) if any Borrowing Request requests a Eurocurrency Revolving Borrowing in Dollars, such Borrowing shall be made as an ABR Borrowing (or such Borrowing shall not be made if the Borrower revokes (and in such circumstances, such Borrowing
Request may be revoked notwithstanding any other provision of this Agreement) such Borrowing Request by telephonic notice, confirmed promptly in writing, not later than one Business Day prior to the proposed date of such Borrowing) and
(iii) any request by a Borrower for a Eurocurrency Borrowing denominated in a currency other than Dollars shall be ineffective; provided that if the circumstances giving rise to such notice affect only one type of Borrowings (for
example, Loans having certain Interest Periods or denominated in a particular currency), then the other types of Borrowing shall be permitted. 

SECTION 2.13. Increased Costs. (a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, liquidity or similar requirement against assets of,
deposits with or for the account of, or credit extended by, any Lender (except any such reserve or other requirement reflected in the Adjusted LIBO Rate or in additional interest paid pursuant to Section 2.21); or 

  
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 (ii) impose on any Lender or the London interbank market any other condition,
cost or expense (other than Taxes) affecting this Agreement or Eurocurrency Loans made by such Lender; 
 and the result of any of the foregoing shall be to
increase the cost to such Lender of making, continuing, converting to or maintaining any Eurocurrency Loan (or of maintaining its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender hereunder
(whether of principal, interest or otherwise), then the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered. 

(b) If any Lender determines that any Change in Law affecting such Lender or any lending office of such Lender or such
Lender’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s direct or indirect holding company,
if any, as a consequence of this Agreement or the Loans made by such Lender, to a level below that which such Lender or such Lender’s direct or indirect holding company could have achieved but for such Change in Law (taking into consideration
such Lender’s policies and the policies of such Lender’s direct or indirect holding company with respect to capital or liquidity adequacy), then from time to time the Borrower will pay to such Lender such additional amount or amounts as
will compensate such Lender or such Lender’s direct or indirect holding company for any such reduction suffered. 
 (c)
A certificate of a Lender setting forth in reasonable detail the amount or amounts necessary to compensate such Lender or its direct or indirect holding company, as the case may be, as specified in paragraph (a) or (b) of this Section
shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d) Failure or delay on the part of any Lender to demand compensation pursuant to this Section shall not constitute a waiver of
such Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs or reductions incurred more than 120 days prior to the date that
such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to
such increased costs or reductions is retroactive, then the 120-day period referred to above shall be extended to include the period of retroactive effect thereof. 

(e) Notwithstanding any other provision of this Section 2.13, no Lender shall demand compensation for any increased costs
or reduction referred to above if it shall not be the general policy or practice of such Lender to demand such compensation in similar circumstances and unless such demand is generally consistent with such Lender’s treatment of comparable
borrowers of such Lender in 

  
 38 

 
the United States with respect to similarly affected commitments or loans under agreements with such borrowers having provisions similar to this Section 2.13 (it being understood that this
sentence shall not limit the discretion of any Lender to waive the right to demand such compensation in any given case). 

(f) If any Lender shall subsequently recoup any costs (other than from the Borrower) for which such Lender has previously been
compensated by the Borrower under this Section 2.13, such Lender shall remit to the Borrower an amount equal to the amount of such recoupment. 

SECTION 2.14. Break Funding Payments. In the event of (a) the payment of any principal of any Eurocurrency Loan prior to the last
day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan prior to the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert,
continue or prepay any Eurocurrency Loan on the date specified in any notice delivered pursuant hereto (except in the case when such notice may be revoked under Section 2.09(d) or Section 2.12 and is revoked in accordance therewith), or
(d) the assignment of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.17, then, in any such event, the Borrower shall compensate each
Lender for the loss (excluding loss of margin), cost and expense it may reasonably incur as a result of such event; provided, however, that the Borrower shall not compensate any Lender for any cost of terminating or liquidating any
hedge or related trading position (such as a rate swap, basis swap, forward rate transaction, interest rate option, cap, collar or floor transaction, swaption or any other similar transaction). Such compensable loss, cost or expense to any Lender
shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate or LIBO
Rate, as the case may be, that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the
period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of
such period, for dollar deposits of a comparable amount and period from other banks in the Eurocurrency market. A certificate of any Lender setting forth in reasonable detail any amount or amounts that such Lender is entitled to receive pursuant to
this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 

SECTION 2.15. Taxes. (a) Any and all payments by or on account of any obligation of the Borrower hereunder shall be made free and
clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that if the Borrower shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as
necessary so that after making all such required deductions (including such deductions applicable to additional sums payable under this 

  
 39 

 
Section) the Administrative Agent or Lender (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make
such deductions, and (iii) the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 

(b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable
law. 
 (c) The Borrower shall indemnify the Administrative Agent and each Lender, within 15 days after written demand
therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by or on account of any obligation of the Borrower hereunder (including
Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or
Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate setting forth in reasonable detail the amount of such payment or liability delivered to the Borrower by a Lender, or by the
Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 
 (d) Each
Lender shall severally indemnify the Administrative Agent, within 15 days after written demand therefor, for the full amount of any Taxes attributable to such Lender that are paid or payable by the Administrative Agent in connection with this
Agreement (but, in the case of any Indemnified Taxes or Other Taxes, only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes or Other Taxes and without limiting the obligation of the
Borrower to do so) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate setting
forth in reasonable detail the amount of such payment or liability delivered to the applicable Lender by the Administrative Agent shall be conclusive absent manifest error. 

(e) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental Authority,
the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent. 
 (f) If the Administrative Agent or a Lender determines, in its
good-faith judgment, that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.15, it shall pay
over such refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 2.15 with respect to the Taxes or 

  
 40 

 
Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender and without interest (other than any interest paid by the relevant
Governmental Authority with respect to such refund); provided that the Borrower, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. This Section shall not be construed to
require the Administrative Agent or any Lender to make available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the Borrower or any other Person. 

(g) (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made
under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the
Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such
other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 2.15(g)(ii)(A),
(ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or
commercial position of such Lender. 
 (ii) Without limiting the generality of the foregoing: 

(a) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on
which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S.
federal backup withholding tax; 
 (b) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to
the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 

  
 41 

 (i) in the case of a Foreign Lender claiming the benefits of an income tax
treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal
withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from, or
reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(ii) executed originals of IRS Form W-8ECI; 

(iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c)
of the Code, (x) a certificate substantially in the form of Exhibit C-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the
Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals
of IRS Form W-8BEN or W-8BEN-E, as applicable; or 
 (iv) to the extent a Foreign Lender is not the beneficial owner,
executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit C-2 or Exhibit C-3, IRS Form W-9, and/or other certification documents from
each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax
Compliance Certificate substantially in the form of Exhibit C-4 on behalf of each such direct and indirect partner 
 (c) any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes
a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a
reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to
be made; and 
 (d) If a payment made to a Lender under any Loan Document would be subject to U.S. Federal withholding
Tax imposed by FATCA if such Lender were 

  
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to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the
Borrower and the Administrative Agent, at the time or times prescribed by applicable law and at such time or times reasonably requested by the Administrative Agent or the Borrower, such documentation prescribed by applicable law (including as
prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Administrative Agent or the Borrower as may be necessary for the Administrative Agent or the Borrower, as the case may be, to
comply with its obligations under FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under FATCA and, as necessary, to determine the amount to deduct and withhold from such payment. Solely for purposes
of this Section 2.15(g)(ii), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 Each Lender agrees that
if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability
to do so. 
 SECTION 2.16. Payments Generally; Pro Rata Treatment; Sharing of Setoffs. (a) The Borrower shall make each payment
required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under Sections 2.13, 2.14 or 2.15, or otherwise) prior to 2:00 p.m., Local Time, on the date when due, in immediately available funds, without setoff
or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments
shall be made to such account as may be specified by the Administrative Agent for the account of the applicable Lenders, except payments to be made directly to the Swingline Lenders as expressly provided herein and except that payments pursuant to
Sections 2.13, 2.14, 2.15 and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following
receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be
payable for the period of such extension (but in no case shall any payment so extended be due after the Maturity Date). All payments hereunder of principal or interest in respect of any Loan (or of any breakage indemnity in respect of any Loan)
shall be made in the currency of such Loan; all other payments hereunder and under each other Loan Document shall be made in Dollars, except as otherwise expressly provided. Any payment required to be made by the Administrative Agent hereunder shall
be deemed to have been made by the time required if the Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or settlement
system used by the Administrative Agent to make such payment. 

  
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 (b) If at any time insufficient funds are received by and available to the Administrative Agent
to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal then due to such parties. 

(c) If any Lender shall, by exercising any right of set off or counterclaim or otherwise, obtain payment in respect of any principal of or
interest on any of its Loans or participations in Swingline Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans of the relevant Class and accrued interest thereon than the proportion received
by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders of such Class to the extent necessary so that the benefit of all such payments shall be
shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans of such Class; provided that (i) if any such participations are purchased and all or any portion of the
payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to
any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or
Participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor
of the Borrower in the amount of such participation. 
 (d) Unless the Administrative Agent shall have received written notice from the
Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on
such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the
Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at
(i) the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation (in the case of an amount denominated in Dollars) and (ii) the rate
reasonably determined by the 

  
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Administrative Agent to be the cost to it of funding such amount (in the case of an amount denominated in any Designated Foreign Currency). 

(e) If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(c), 2.05(a) or
2.16(d), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations
under such Sections until all such unsatisfied obligations are fully paid. 
 SECTION 2.17. Mitigation Obligations; Replacement of
Lenders. (a) If any Lender requests compensation under Section 2.13, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.15,
or if the Borrower is required to pay any additional interest to any Lender pursuant to Section 2.21, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign
its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.13, 2.15 or
2.21, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. 

(b) If (i) any Lender requests compensation under Section 2.13, (ii) the Borrower is required to pay any
additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.15, (iii) the Borrower is required to pay any additional interest to any Lender pursuant to Section 2.21, (iv) any
Lender becomes a Defaulting Lender, or (v) any Lender is a Non-Consenting Lender under Section 2.20, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to
assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 9.04), all its interests, rights and obligations under this Agreement to an assignee that shall assume
such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (i) to the extent required by Section 9.04, the Borrower shall have received the prior written consent of the Administrative
Agent and the Swingline Lenders, which consent shall not be unreasonably withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in Swingline Loans, accrued interest
thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts), and (iii) in the case of any
such assignment resulting from a claim for compensation under Section 2.13 or payments required to be made pursuant to Section 2.15 or additional interest required pursuant to Section 2.21, such assignment will result in a material
reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or 

  
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otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

SECTION 2.18. Defaulting Lenders.  

Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions
shall apply for so long as such Lender is a Defaulting Lender: 
 (a) fees shall cease to accrue on the unfunded portion of
the Commitment of such Defaulting Lender pursuant to Section 2.10; 
 (b) the Commitment and Revolving Exposure of such
Defaulting Lender shall not be included in determining whether the Required Lenders or any other requisite Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to
Section 9.02); provided, that this clause (b) shall not apply to the vote of a Defaulting Lender in the case of an amendment, waiver or other modification requiring the consent of all Lenders or each Lender affected thereby; 

(c) if any Swingline Exposure exists at the time such Lender becomes a Defaulting Lender then: 

(i) all or any part of the Swingline Exposure of such Defaulting Lender shall be reallocated among the non-Defaulting Lenders
in accordance with their respective Applicable Percentages, but only to the extent that the sum of all non-Defaulting Lenders’ Revolving Exposures plus such Defaulting Lender’s Swingline Exposure does not exceed the total of all
non-Defaulting Lenders’ Commitments; provided that no reallocation under this clause (i) shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a
Defaulting Lender, including any claim of a non-Defaulting Lender as a result of such non-Defaulting Lender’s increased exposure following such reallocation; 

(ii) if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall
within one Business Day following notice by the Administrative Agent prepay such Swingline Exposure; and 
 (d) so long as
such Lender is a Defaulting Lender, no Swingline Lender shall be required to fund any Swingline Loan, unless it is satisfied that the related exposure will be fully covered by the Commitments of the non-Defaulting Lenders, and participating
interests in any newly made Swingline Loan shall be allocated among non-Defaulting Lenders in a manner consistent with Section 2.18(c)(i) (and such Defaulting Lender shall not participate therein). 

  
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 If (i) a Bankruptcy Event with respect to a Lender Parent shall occur following the date
hereof and for so long as such event shall continue or (ii) any Swingline Lender has a good faith belief that any Lender has defaulted in fulfilling its obligations under one or more other agreements in which such Lender commits to extend
credit, no Swingline Lender shall be required to fund any Swingline Loan, unless the Swingline Lenders shall have entered into arrangements with the Borrower or such Lender, satisfactory to the Swingline Lenders to defease any risk to the Swingline
Lenders in respect of such Lender hereunder. 
 In the event that the Administrative Agent, the Borrower and each Swingline Lender agree
that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure of the Lenders shall be readjusted to reflect the inclusion of such Lender’s Commitment and on such date
such Lender shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Applicable
Percentage; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender; provided, further, that, except as
otherwise expressly agreed by the affected parties, no change hereunder of a Lender’s status from a Defaulting Lender to a non-Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from such
Lender’s having been a Defaulting Lender. 
 SECTION 2.19. Increase in Revolving Commitments. (a) The Borrower may on one
or more occasions during the Availability Period request, by written notice to the Administrative Agent, the establishment of Incremental Revolving Commitments to be provided by Incremental Lenders and in connection therewith cause additional
Swingline Commitments to be provided by such Incremental Lenders (not exceeding, in the aggregate for all such new or increased Swingline Commitments, the aggregate amount of such Incremental Commitments); provided, however, that
(i) the amount of each Incremental Facility shall be no less than $75,000,000 and (ii) the aggregate amount of all the Incremental Revolving Commitments established hereunder shall not exceed $500,000,000. Each such notice shall specify
(i) the date on which the Borrower proposes that the Incremental Revolving Commitments shall be effective, which shall be a date not less than 10 Business Days (or such shorter period as may be agreed to by the Administrative Agent) after the
date on which such notice is delivered to the Administrative Agent and (ii) the amount of the Incremental Revolving Commitments being requested (it being agreed that (A) any Lender approached to provide any Incremental Revolving Commitment
may elect or decline, in its sole discretion, to provide such Incremental Revolving Commitment and (B) any Person other than an existing Lender that the Borrower proposes to become an Incremental Lender shall be subject to the approval of the
Administrative Agent and the Swingline Lenders (which approval shall not be unreasonably withheld). 
 (b) The terms and
conditions of any Incremental Revolving Commitments and Loans and other extensions of credit to be made thereunder shall be identical to those of the Revolving Commitments hereunder and the Loans and

  
 47 

 
other extensions of credit made thereunder, and shall be treated as a single class with such Revolving Commitments and Loans. 

(c) The Incremental Revolving Commitments shall be effected pursuant to one or more Incremental Facility Amendments executed
and delivered by the Borrower, each Incremental Lender providing such Incremental Revolving Commitments and the Administrative Agent; provided that no Incremental Facility or Incremental Revolving Commitments or new or increased Swingline
Commitments relating thereto will become effective unless (i) no Default shall have occurred and be continuing at the time of, and immediately after giving effect to, the effectiveness of such Incremental Revolving Commitments, (ii) on the
date of effectiveness thereof, the representations and warranties set forth in Article III hereof shall be true and correct in all material respects on and as of the date of such effectiveness, except where such representations and warranties
expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date, (iii) the Administrative Agent shall have received a certificate dated the
date of such effectiveness confirming satisfaction as of such date of the conditions referred to in clauses (i) and (ii), (iv) the Borrower shall make any payments required to be made pursuant to Section 2.14 in connection with such
Incremental Revolving Commitments and the related transactions under this Section, and (v) the Borrower shall have delivered to the Administrative Agent such legal opinions, board resolutions, secretary’s certificates, officer’s
certificates and other documents, consistent with those delivered under Section 4.01 hereof, as shall reasonably be requested by the Administrative Agent in connection with such Incremental Facility. Each Incremental Facility Amendment may,
without the consent of any Lender other than the Incremental Lenders party thereto, effect such amendments to this Agreement as may be necessary or appropriate, in the opinion of the Administrative Agent, to give effect to the provisions of this
Section. 
 (d) Upon the effectiveness of an Incremental Revolving Commitment of any Incremental Lender, (i) such
Incremental Lender shall be deemed to be a “Revolving Lender” and, as applicable, a Swingline Lender, hereunder, and shall thereafter be entitled to all the rights of, and benefits accruing to, Lenders hereunder and shall be bound by all
agreements, acknowledgements and other obligations of Lenders hereunder, and (ii)(A) such Incremental Revolving Commitment shall constitute (or, in the event such Incremental Lender already has a Revolving Commitment, shall increase) the Revolving
Commitment of such Incremental Lender and (B) the aggregate Revolving Commitments shall be increased by the amount of such Incremental Revolving Commitment, in each case, subject to further increase or reduction from time to time as set forth
in the definition of the term “Revolving Commitment”. For the avoidance of doubt, upon the effectiveness of any Incremental Revolving Commitments, the Revolving Exposure of the Incremental Revolving Lender holding such Commitment, and the
Applicable Percentages of all the Revolving Lenders, shall automatically be adjusted to give effect thereto. 

  
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 (e) On the date of effectiveness of any Incremental Revolving Commitments, each
Revolving Lender shall assign to each Incremental Revolving Lender holding such Incremental Revolving Commitment, and each such Incremental Revolving Lender shall purchase from each Revolving Lender, at the principal amount and in the currency
thereof (together with accrued interest in the applicable currency), such interests in the outstanding Revolving Loans and funded participations in Swingline Loans outstanding on such date as shall be necessary in order that, after giving effect to
all such assignments and purchases, such Revolving Loans and funded participations in Swingline Loans will be held by all the Revolving Lenders (including such Incremental Revolving Lenders) ratably in accordance with their Applicable Percentages
after giving effect to the effectiveness of such Incremental Revolving Commitment. 
 (f) The Administrative Agent shall
notify the Lenders promptly upon receipt by the Administrative Agent of any notice from the Borrower referred to in paragraph (a) of this Section and of the effectiveness of any Incremental Revolving Facility, in each case advising the Lenders
of the details thereof and of the Applicable Percentages of the Revolving Lenders after giving effect thereto and of the assignments required to be made pursuant to paragraph (e) of this Section. 

SECTION 2.20. Extension of Maturity Date. (a) The Borrower may, on no more than two occasions during the term of this Agreement,
by written notice (an “Extension Notice”) delivered to the Administrative Agent not less than 30 days and not more than 60 days prior to any anniversary of the Effective Date, request a one-year extension of the Maturity
Date then in effect (the “Existing Maturity Date”) to be effective on such anniversary (the “Extension Effective Date”); provided that (i) no Default shall have occurred and be continuing on the
Extension Effective Date, (ii) the representations and warranties set forth in Article III hereof shall be true and correct in all material respects on and as of the Extension Effective Date, except where such representations and
warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date, and (iii) the Administrative Agent shall have received a
certificate, dated the Extension Effective Date and signed by a Vice President or a Financial Officer of the Borrower, confirming compliance with the conditions precedent set forth in clauses (i) and (ii) of this paragraph (a). 

(b) The effectiveness of any extension of the Maturity Date shall require the prior written consent of the Required Lenders,
each Lender participating in such extension of the Maturity Date, and the Administrative Agent. The Administrative Agent shall promptly furnish a copy of the Extension Notice to each Lender, and shall request that each Lender either agree or not
agree to such extension no later than 10 days prior to the requested Extension Effective Date. Any Lender not responding within the above time period shall be deemed not to have consented to such extension. The decision to agree or withhold
agreement to any extension of the Maturity Date hereunder shall be at the sole discretion of each Lender. The Revolving Commitment of any Lender that has declined to agree to any requested extension of the Maturity Date (a “Non-Consenting
Lender”) shall terminate on the 

  
 49 

 
Existing Maturity Date, and the principal amount of any outstanding Loans made by such Lender, together with any accrued interest thereon, and any accrued fees and other amounts payable to or for
the account of such Lender hereunder, shall be due and payable on the Existing Maturity Date, and such Non-Consenting Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.13, 2.14, 2.15 and
9.03 with respect to facts and circumstances occurring prior to the date it ceased being a party. Notwithstanding the foregoing provisions of this paragraph, the Borrower shall have the right, prior to an Extension Effective Date, pursuant to, and
in accordance with, Section 2.17(b), to replace a Non-Consenting Lender with a Lender or other financial institution that will agree to an extension of the Maturity Date. 

SECTION 2.21. Additional Reserve Costs. 

(a) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any
monetary or other authority (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Statutory Reserve Rate) in respect of any of such Lender’s
Eurocurrency Loans in any Designated Foreign Currency, such Lender may require the Borrower to pay, contemporaneously with each payment of interest on each of such Lender’s Eurocurrency Loans subject to such requirements, additional interest on
such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. 

(b) Any additional interest owed pursuant to paragraph (a) above shall be determined by the relevant Lender, which
determination shall be conclusive absent manifest error, and notified to the Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional
interest so notified to the Borrower by such Lender shall be payable to the Administrative Agent for the account of such Lender on each date on which interest is payable for such Loan. 

SECTION 2.22. Redenomination of Certain Designated Foreign Currencies. (a) Each obligation of any party to this Agreement to make
a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption (in accordance with the EMU
Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London Interbank Market for
the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency (and the Administrative Agent
shall give notice thereof to the Borrower and the Lenders); provided that if any Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such Borrowing,
at the end of the then current Interest Period. 

  
 50 

 (b) Without prejudice and in addition to any method of conversion or rounding
prescribed by any EMU Legislation and (i) without limiting the liability of the Borrower for any amount due under this Agreement and (ii) without increasing any Commitment of any Lender, all references in this Agreement to minimum amounts
(or integral multiples thereof) denominated in the national currency unit of any member state of the European Union that adopts the Euro as its lawful currency after the date hereof shall, immediately upon such adoption, be replaced by references to
such minimum amounts (or integral multiples thereof) as shall be specified herein with respect to Borrowings denominated in Euro. 

(c) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent
(with the consent of the Borrower (not to be unreasonably withheld)) may from time to time specify to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices
relating to the Euro. 
 ARTICLE III 

Representations and Warranties 

The Borrower represents and warrants to the Lenders that: 

SECTION 3.01. Organization; Powers. Each of the Borrower and the Significant Subsidiaries is duly organized, validly existing and in
good standing (if applicable) under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect, is qualified to do business and in good standing (if applicable) in every jurisdiction where such qualification is required. 

SECTION 3.02. Authorization; Enforceability. The Transactions are within the Borrower’s and the applicable Subsidiaries’
corporate powers and have been duly authorized by all necessary corporate and, if required, stockholder action. This Agreement has been duly executed and delivered by the Borrower and constitutes a legal, valid and binding obligation of the
Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law. 
 SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do
not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect, (b) will not violate any applicable law or
regulation or the charter, by-laws or other organizational documents of the Borrower or any of the Significant Subsidiaries or any order of any Governmental Authority, (c) will not violate or result in a default under any indenture, material
agreement or other material instrument binding upon the Borrower or any of the Significant Subsidiaries or its assets, or give rise 

  
 51 

 
to a right thereunder to require any payment to be made by the Borrower or any of the Significant Subsidiaries, and (d) will not result in the creation or imposition of any Lien on any
material amount of assets of the Borrower or any of the Significant Subsidiaries. 
 SECTION 3.04. Financial Condition; No Material
Adverse Change. (a) The Borrower has heretofore furnished to the Administrative Agent for delivery to the Lenders (i) a combined balance sheet and statements of income, stockholders’ equity and cash flows for the Hewlett Packard
Enterprise Company Businesses as of and for the fiscal year ended October 31, 2014, reported on by Ernst & Young LLP, independent registered public accounting firm, and (ii) an unaudited combined balance sheet and statements of
income, stockholders’ equity and cash flows as of and for the period ending July 31, 2015. Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the Borrower
and the Subsidiaries as of such date and for such period in accordance with GAAP. 
 (b) Since October 31, 2014, other
than the consummation of the Separation Transactions, there has been no material adverse change in the actual business, assets, operations or financial condition of the Hewlett Packard Enterprise Company Businesses, taken as a whole. 

SECTION 3.05. Litigation and Environmental Matters. (a) Except as disclosed in Hewlett-Packard Company’s Annual Report on
Form 10-K for the fiscal year ended October 31, 2014, the quarterly reports on Form 10-Q or current reports on Form 8-K filed subsequent thereto but prior to the Effective Date, or any amendments thereof filed subsequent thereto but prior to
the Effective Date, the Information Statement, or any amendment thereof filed subsequent thereto but prior to the Effective Date, and except as set forth on Schedule 3.05, there are no actions, suits or proceedings by or before any arbitrator
or Governmental Authority pending or, to the knowledge of the Borrower, threatened against the Borrower or any of the Significant Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely
determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve this Agreement or the Transactions. 

(b) Except as disclosed in the Hewlett-Packard Company’s Annual Report on Form 10-K for the fiscal year ended
October 31, 2014, the quarterly reports on Form 10-Q or current reports on Form 8-K filed subsequent thereto but prior to the Effective Date, or any amendments thereof filed subsequent thereto but prior to the Effective Date, the Information
Statement, or any amendment thereof filed subsequent thereto but prior to the Effective Date, except as set forth on Schedule 3.05 and except with respect to any other matters that, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect, neither the Borrower nor any of the Significant Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval
required under any Environmental Law, (ii) has become subject to any Environmental Liability, or (iii) has received notice of any claim with respect to any Environmental Liability. 

  
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 SECTION 3.06. Compliance with Laws and Agreements. None of the Borrower or any of the
Significant Subsidiaries or any of their respective properties or assets is in violation of, nor will the continued operation of their properties and assets as currently conducted violate, any law, rule or regulation or indenture, agreement or other
instrument, or is in default with respect to any judgment, writ, injunction, decree or order of any Governmental Authority or indenture, agreement or other instrument, where such violation or default could reasonably be expected to result in a
Material Adverse Effect. No Default has occurred and is continuing. 
 SECTION 3.07. Investment Company Status. The Borrower is not,
and is not “controlled” by, an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 

SECTION 3.08. Taxes. Each of the Borrower and the Subsidiaries has timely filed or caused to be filed all Tax returns and reports
required by law to have been filed, and has paid or caused to be paid all Taxes shown to be due and payable on such Tax returns, except (a) any Taxes that are being contested in good faith by appropriate proceedings and for which the Borrower
or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.09. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA
Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. Any underfunding with respect to one or more Plans (based on the assumptions used for purposes of Financial Accounting
Standards No. 87) could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. 

SECTION 3.10. Federal Reserve Regulations. (a) Neither the Borrower nor any of the Subsidiaries is engaged principally, or as one
of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock. 
 (b)
No part of the proceeds of any Loan will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of
the Board, including Regulation T, Regulation U and Regulation X. If required by law and requested by the Administrative Agent or any Lender, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect
in conformity with the requirements of FR Form G-3 or FR Form U-1 referred to in Regulation U. 
 SECTION 3.11. Pari Passu Status.
The obligations of the Borrower under this Agreement rank, and will rank, at least pari passu in priority of payment and in all other respects with all unsecured Indebtedness of the Borrower. 

  
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 SECTION 3.12. Anti-Corruption Laws and Sanctions. The Borrower has implemented and
maintains in effect policies and procedures designed to promote compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and Borrower Agents with Anti-Corruption Laws and applicable Sanctions. None of the
Borrower or any Subsidiary of the Borrower is a Sanctioned Person. The Borrower and its Subsidiaries and, to the knowledge of the Borrower, its and their respective directors, officers, employees and Borrower Agents are in compliance with
Anti-Corruption Laws and applicable Sanctions in all material respects. No proceeds of any Loans will be used directly, or to the knowledge of the Borrower, indirectly for the purpose of financing the activities of any Sanctioned Person or in any
Sanctioned Country (unless, in each case, authorized by Sanctions), or for the purpose of engaging in any activity in violation of Sanctions. 

ARTICLE IV 
 Conditions

 SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans and acquire participations in Swingline Loans shall not
become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02): 

(a) The Administrative Agent (or its counsel) shall have received from the Borrower, each Lender and the Administrative Agent either
(i) a counterpart of this Agreement (which may include telecopy or electronic transmission of a signed signature page of this Agreement) signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent that
such party has signed a counterpart of this Agreement. 
 (b) The Separation Transactions shall have been consummated in accordance with and
as described in the Information Statement, without any changes or deviations therefrom that could reasonably be expected to be materially adverse to the Lenders, except for any such changes or deviations that have been approved by the Arrangers.

 (c) The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders and
dated the Effective Date) of Rishi Varma, Vice President, Deputy General Counsel and Assistant Secretary of the Borrower (or any outside counsel designated by the Borrower), substantially in the form of Exhibit B-1, and covering such matters
relating to the Borrower, this Agreement or the Transactions as the Lenders shall reasonably request. The Borrower hereby requests such counsel to deliver such opinion. 

(d) The Administrative Agent shall have received such documents and certificates as the Administrative Agent may reasonably request relating
to the organization, existence and good standing of the Borrower in its jurisdiction of organization, the authorization of the Transactions and any other legal matters relating to 

  
 54 

 
the Borrower, the Subsidiaries, this Agreement or the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent. 

(e) The Borrower shall have provided the Administrative Agent and the Lenders with pro forma unaudited combined financial statements of the
Borrower and its Subsidiaries equivalent to the unaudited combined financial statements in the Information Statement as of and for the period ending July 31, 2015, in each case prepared on a pro forma basis giving effect to the Separation
Transactions, in respect of each fiscal quarter ending after July 31, 2015 and prior to the date that is 45 days prior to the Effective Date (and for the equivalent period in the preceding fiscal year). 

(f) The Administrative Agent shall have received certificates dated the Effective Date (i) signed by a Vice President or a Financial
Officer of the Borrower confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section 4.02 as of such date (but without excluding the representation and warranty set forth in Section 3.04(b) or
Section 3.05) and (ii) signed by a Financial Officer of the Borrower, substantially in the form of Exhibit B-2, with respect to the solvency on such date of the Borrower and the Subsidiaries, on a consolidated basis, after giving effect to
the Separation Transactions and the other transactions to be consummated on the Effective Date. 
 (g) There shall not have occurred or come
to the attention of the Lenders any event or circumstance (for the avoidance of doubt, other than consummation of the Separation Transactions) that has resulted or could reasonably be expected to result in a material adverse change in the actual
business, assets, operations or financial condition of the Hewlett Packard Enterprise Company Businesses since October 31, 2014. 
 (h)
The Lenders shall have received all documentation and other information required by bank regulatory authorities under applicable “know your customer”, and anti-money laundering rules and regulations, including the USA PATRIOT Act, to the
extent requested at least five Business Days prior to the Effective Date. 
 (i) All fees, cost reimbursements and out-of-pocket expenses
required to be paid or reimbursed on or prior to the Effective Date pursuant hereto or pursuant to the Commitment Letter, to the extent invoiced prior to (or, in the case of cost reimbursement and out-of-pocket expenses, not fewer than two Business
Days prior to) the Effective Date, shall have been paid or will be paid on the Effective Date substantially concurrently with the effectiveness of this Agreement. 

The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the
foregoing, this Agreement and obligations of the Lenders to make Loans hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 9.02) at or prior to 5:00 p.m., New York City time,
on November 30, 2015 (and, 

  
 55 

 
in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time). 

SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing is subject to the
satisfaction of the following conditions: 
 (a) The representations and warranties of the Borrower set forth in this
Agreement (other than the representations and warranties set forth in Section 3.04(b) and Section 3.05) shall be true and correct on and as of the date of such Borrowing. 

(b) At the time of and immediately after giving effect to such Borrowing, no Default shall have occurred and be continuing.

 Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters
specified in paragraphs (a) and (b) of this Section. 
 ARTICLE V 

Affirmative Covenants 

Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have
been paid in full, the Borrower covenants and agrees with the Lenders that: 
 SECTION 5.01. Financial Statements and Other
Information. The Borrower will furnish to the Administrative Agent for delivery to each Lender: 
 (a) on or before the
earlier of (i) the date by which the Annual Report on Form 10-K of the Borrower (without giving effect to any extension thereof) for each fiscal year is required to be filed under the rules and regulations of the SEC and (ii) 90 days
after the end of such fiscal year, its audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures
for the previous fiscal year, all reported on by Ernst & Young LLP or other independent registered public accounting firm of recognized national standing (without a “going concern” or like qualification or exception and without
any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and the Subsidiaries on
a consolidated basis in accordance with GAAP consistently applied; 
 (b) on or before the earlier of (i) the date by
which the Quarterly Report on Form 10-Q of the Borrower for each of the first three fiscal quarters of each fiscal year is required to be filed under the rules and regulations of the SEC (without giving effect to any extension thereof) and
(ii) 45 days after the end of each 

  
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of the first three fiscal quarters of such fiscal year, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such
fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year,
all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Borrower and the Subsidiaries on a consolidated basis in accordance with GAAP consistently applied,
subject to normal year-end audit adjustments and the absence of footnotes; 
 (c) not later than the date by which financial
statements are required to be delivered under clause (a) or (b) above, a certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details
thereof and any action taken or proposed to be taken with respect thereto and (ii) setting forth reasonably detailed calculations demonstrating compliance with Section 6.05; 

(d) promptly following any request therefor, such other information regarding the operations, business affairs and financial
condition of the Borrower or any Subsidiary, or compliance with the terms of this Agreement or with the requirements of the Patriot Act or any other “know your customer” or similar laws or regulations, as the Administrative Agent or any
Lender may reasonably request (it being understood that the Borrower shall not be required to provide any information which is subject to confidentiality restrictions, the nature of which prohibit such disclosure notwithstanding the provisions of
Section 9.12 hereof); and 
 (e) all information, documents and other materials that the Borrower is obligated to
deliver to the Administrative Agent under this Agreement, including all notices, requests, and other reports, certificates and other information materials, but excluding any such information that (i) is required to be delivered pursuant to
clauses (a) and (b) of this Section 5.01, (ii) relates to a request for a new, or a conversion of an existing, Borrowing or other extension of credit (including any Interest Election Request or Interest Period relating thereto),
(iii) relates to the payment of any principal or other amount due under this Agreement prior to the scheduled date therefor, (iv) provides notice of any Default or Event of Default, or (v) is required to be delivered to satisfy any
condition precedent to the effectiveness of this Agreement and/or any Borrowing or other extension of credit hereunder (all such non-excluded information being referred to herein collectively as “Communications”), by transmitting
the Communications in an electronic/soft medium in a format acceptable to the Administrative Agent. In addition, the Borrower agrees to continue to provide the Communications to the Administrative Agent in the manner specified in this Agreement, but
only to the extent requested by the Administrative Agent. The Borrower further agrees that the Administrative Agent may make the Communications available to the Lenders by posting the Communications on Intralinks or a substantially similar
electronic transmission system, access to which is controlled by the Administrative Agent (the “Platform”). 

  
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 Reports required to be delivered pursuant to clauses (a) and (b) of this Section 5.01 shall be
deemed to have been delivered on the date on which the Borrower posts such reports on its website at www.hp.com or when such reports are posted on the SEC’s website at www.sec.gov; provided that the Borrower shall deliver to the
Administrative Agent, not later than the date on which financial statements are required to be delivered under clause (b) above, the certification of a Financial Officer, as required by clause (b). 

SECTION 5.02. Notices of Material Events. Promptly after a Financial Officer or any other executive officer of the Borrower becomes
aware of the following, the Borrower will furnish to the Administrative Agent for delivery to each Lender written notice of the following: 

(a) any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) taken or
proposed to be taken with respect thereto; 
 (b) the filing or commencement of, or any written notice of intention of any
Person to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any arbitrator or Governmental Authority, against or affecting the Borrower or any Affiliate thereof that, if not cured or if adversely
determined, could reasonably be expected to result in a Material Adverse Effect; 
 (c) the occurrence of any ERISA Event
that, alone or together with any other ERISA Events that have occurred, if not cured or if adversely determined, could reasonably be expected to result in liability of the Borrower and the Subsidiaries in an aggregate amount exceeding $200,000,000;
and 
 (d) any other development or event that has resulted in, or could reasonably be expected to result in, a Material
Adverse Effect. 
 Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or other executive officer of the
Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

SECTION 5.03. Existence; Conduct of Business. The Borrower will, and will cause each of the Significant Subsidiaries to, do or cause to
be done all things reasonably necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business; provided that the foregoing
shall not prohibit any merger, consolidation, liquidation, dissolution or asset disposition permitted under Section 6.04; provided further that neither the Borrower nor any of the Significant Subsidiaries shall be required to
preserve any rights, licenses, permits, privileges or franchises or any Significant Subsidiary’s existence if the Borrower or such Subsidiary determines that the preservation thereof is no longer desirable in the conduct of the business of the
Borrower or such Subsidiary, as the case may be, and that the loss thereof would not materially 

  
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adversely affect the Borrower, such Subsidiary or the Lenders with respect to any Commitments or Borrowing hereunder. 

SECTION 5.04. Payment of Obligations. The Borrower will, and will cause each of the Subsidiaries to, pay its obligations, other than
Indebtedness but including Tax liabilities, that, if not paid, could result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith,
(b) the Borrower or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP, and (c) the failure to make payment pending such contest could not reasonably be expected to result in a
Material Adverse Effect. 
 SECTION 5.05. Maintenance of Properties; Insurance. The Borrower will, and will cause each of the
Subsidiaries to, (a) keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect, and (b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies engaged in
the same or similar businesses operating in the same or similar locations; provided, however, that the Borrower and the Subsidiaries may instead self-insure to the same general extent as other companies of similar size, type and
financial condition as the Borrower or such Subsidiary, and to the extent such policies are consistent with prudent business practice. 

SECTION 5.06. Books and Records; Inspection Rights. The Borrower will, and will cause each of the Subsidiaries to, keep proper books of
record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities sufficient to permit the preparation of the consolidated financial statements of the Borrower and the
Subsidiaries in accordance with GAAP. The Borrower will, and will cause each of the Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender (which representatives shall be reasonably acceptable to the
Borrower), upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such
reasonable times and as often as reasonably requested; provided that such designated representatives agree to any reasonable confidentiality obligations proposed by the Borrower, including, but not limited to, confidentiality obligations
agreed to by the Lenders under or in connection with this Agreement. 
 SECTION 5.07. Compliance with Laws. (a) The Borrower
will, and will cause each of the Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, including all Environmental Laws, except where the failure to do so, individually
or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

  
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 (b) The Borrower will maintain in effect and enforce in all material respects
policies and procedures designed to promote compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and Borrower Agents with Anti-Corruption Laws and applicable Sanctions. 

SECTION 5.08. Use of Proceeds. (a) The proceeds of the Loans will be used only for general corporate purposes. No part of the
proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulation T, Regulation U and Regulation X. 

(b) The Borrower will not permit the proceeds of any Loans to be used directly, or to the knowledge of the Borrower, indirectly
for the purpose of financing the activities of any Sanctioned Person or in any Sanctioned Country (unless, in each case, authorized by Sanctions), or for the purpose of engaging in any activity in violation of Sanctions. 

ARTICLE VI 
 Negative
Covenants 
 Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable
hereunder have been paid in full, the Borrower covenants and agrees with the Lenders that: 
 SECTION 6.01. Subsidiary Indebtedness.
The Borrower will not permit any Subsidiary to create, incur, assume or permit to exist any Indebtedness or Attributable Debt, except: 

(a) Indebtedness, including Guarantees and obligations in respect of letters of credit and letters of guaranty, existing on the
Effective Date and set forth on Schedule 6.01 (i) individually, identifying the relevant Subsidiary and Indebtedness, in the case of any issue or item of Indebtedness having an outstanding principal amount in excess of $100,000,000 and
(ii) in the aggregate with respect to all other such Indebtedness; 
 (b) Guarantees of Indebtedness of any Subsidiary
to the extent such Indebtedness is otherwise permitted under this Agreement; 
 (c) Indebtedness of any Subsidiary to the
Borrower or any other Subsidiary; 
 (d) Indebtedness of any Person that becomes a Subsidiary (or of any Person not
previously a Subsidiary that is merged or consolidated with or into a Subsidiary in a transaction permitted hereunder) after the date hereof; or Indebtedness of any Person that is assumed by any Subsidiary in connection with an acquisition of assets
by such Subsidiary, provided that (i) such Indebtedness exists at the time such Person becomes a Subsidiary (or is so merged or consolidated) or such assets are acquired and is not created in contemplation of or

  
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in connection with such Person becoming a Subsidiary (or such merger or consolidation) or such assets being acquired and (ii) no other Subsidiary (other than a Subsidiary into which the
acquired Person is merged or any Subsidiary of the acquired Person) shall Guarantee or otherwise become liable for the payment of such Indebtedness, except to the extent that such Guarantee is incurred pursuant to Section 6.01(g); 

(e) Indebtedness incurred to finance the purchase price, construction cost or improvement cost incurred in connection with the
acquisition, construction or improvement of assets, including Capital Lease Obligations; provided that (i) such Indebtedness is incurred prior to or within one year after, the date of acquisition, construction or improvement of such
assets, (ii) such Indebtedness does not exceed the amount of such purchase price or cost of the asset and (iii) any Lien securing such Indebtedness is permitted under Section 6.02(f); 

(f) Indebtedness of Subsidiaries that are limited purpose financing vehicles for Securitization Transactions incurred to
finance such Securitization Transactions, provided that such Securitization Transactions otherwise comply with the provisions hereof; 

(g) other Indebtedness of Subsidiaries, including Attributable Debt in respect of Sale and Leaseback Transactions permitted by
Section 6.03; provided that the sum, without duplication, of (i) the aggregate outstanding principal amount of Indebtedness permitted by this clause (g), plus (ii) the aggregate outstanding principal amount of Indebtedness and
other obligations secured by Liens permitted by Section 6.02(g), plus (iii) the outstanding Attributable Debt in respect of Sale and Leaseback Transactions permitted by Section 6.03 shall not exceed at any time the greater of
$1,000,000,000 and 12.5% of Consolidated Net Tangible Assets as of the most recent fiscal quarter end for which financial statements of the Borrower have been delivered pursuant to Section 5.01(a) or (b); 

(h) Indebtedness incurred in connection with the extension of maturity of, or refunding or refinancing of, in whole or in part,
any Indebtedness or Attributable Debt outstanding pursuant to Section 6.01(a),(d), (e) or (g), provided that (i) such extension of, or refunding refinancing shall not increase the principal amount of the Indebtedness or
Attributable Debt being extended, or refunded or refinanced by more than the amount of accrued interest thereon and fees, expenses and premiums paid in connection with such extension, refunding or refinancing and (ii) any such refinancing
Indebtedness in respect of Indebtedness incurred under Section 6.01(g) will be deemed to utilize the basket referred to in Section 6.01(g), but such Indebtedness shall be permitted even if such Indebtedness is incurred at a time when such
Indebtedness would not otherwise be permitted to be incurred under such clause; 
 (i) Indebtedness arising in connection
with customary cash management services and from the honoring by a bank or financial institution of a check, draft 

  
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or similar instrument drawn against insufficient funds, in each case in the ordinary course of business; and 

(j) Indebtedness as an account party in respect of trade letters of credit. 

SECTION 6.02. Liens. The Borrower will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Lien on
any property or asset now owned or hereafter acquired by it, except: 
 (a) Permitted Encumbrances; 

(b) Liens on any property or asset of a Subsidiary securing Indebtedness of such Subsidiary to the Borrower or to another
Subsidiary; 
 (c) any Lien on any property or asset of the Borrower or any Subsidiary existing on the Effective Date;
provided that (i) such Lien shall not apply to any other property or asset of the Borrower or any Subsidiary other than extensions and accessions thereto and (ii) such Lien shall secure only those obligations which it secures on the
Effective Date and extensions, renewals and replacements thereof permitted by Section 6.01(g); 
 (d) any Lien existing
on any property or asset prior to the acquisition thereof by the Borrower or any Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary;
provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of the
Borrower or any Subsidiary other than extensions and accessions thereto and (iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be,
and extensions, renewals, refinancings and replacements thereof that do not increase the outstanding principal amount thereof by more than the amount of accrued interest thereon and fees, expenses and premiums paid in connection with such
refinancing; 
 (e) Liens arising under Securitization Transactions entered into on lease and other accounts receivable sold
or transferred pursuant to such Securitization Transactions or on interests retained by the Borrower or any Subsidiary in any securitization vehicle utilized to effect such a Securitization Transaction; 

(f) any Lien given to secure Indebtedness or other obligations (including, in the case of Subsidiaries, Indebtedness incurred
pursuant to Section 6.01(e)) incurred to finance the payment of the purchase price, construction cost or improvement cost of the acquisition, construction or improvement of assets; provided that (i) such Lien shall attach solely to
the assets acquired, constructed or improved (including any assets which are attached or otherwise adjoining such assets), (ii) such Lien has been created or incurred by the Borrower or a Subsidiary simultaneously with, or within one year
after, the date of acquisition, 

  
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construction or improvement of such assets, (iii) the Indebtedness or other obligations secured thereby shall not exceed the amount of such purchase price or cost of the asset and
(iv) such Lien shall secure only those obligations which it secures on the date of such acquisition, construction or improvement of assets, as the case may be, and extensions, renewals and replacements thereof that do not increase the
outstanding principal amount thereof by more than the amount of accrued interest thereon and fees, expenses and premiums paid in connection with such refinancing; 

(g) other Liens securing Indebtedness or other obligations of the Borrower or any Subsidiary; provided that the sum,
without duplication, at any time of (i) the aggregate outstanding principal amount of Indebtedness and other obligations secured by Liens permitted by this clause (g) plus (ii) the aggregate outstanding principal amount of
Indebtedness of Subsidiaries permitted by Section 6.01(g), plus (iii) the outstanding Attributable Debt in respect of Sale and Leaseback Transactions permitted by Section 6.03 shall not exceed at any one time the greater of
$1,000,000,000 and 12.5% of Consolidated Net Tangible Assets as of the most recent fiscal quarter end for which financial statements of the Borrower have been delivered pursuant to Section 5.01(a) or (b); and 

(h) Liens in respect of Indebtedness incurred in connection with the extension of maturity of, or refunding or refinancing of,
in whole or in part, any secured Indebtedness incurred under Section 6.02(g), provided that (i) such extension of, or refunding or refinancing shall not increase the principal amount of the secured Indebtedness or Attributable Debt
being extended, or refunded or refinanced by more than the amount of accrued interest thereon and fees, expenses and premiums paid in connection with such extension, refunding or refinancing and (ii) any such secured Indebtedness will be deemed
to utilize the basket referred to in Section 6.02(g), but such secured Indebtedness (and the Liens in respect thereof) shall be permitted even if the such secured Indebtedness is incurred at a time when such secured Indebtedness would not
otherwise be permitted to be incurred under such clause. 
 SECTION 6.03. Sale and Leaseback Transactions. The Borrower will not, and
will not permit any Subsidiary to, enter into any Sale and Leaseback Transaction; provided that the Borrower may, and may permit any Subsidiary to, enter into Sale and Leaseback Transactions provided the sum, without duplication, of
(i) the aggregate outstanding Attributable Debt in respect of Sale and Leaseback Transactions permitted by this Section plus (ii) the aggregate outstanding principal amount of Indebtedness of Subsidiaries permitted by Section 6.01(g),
plus (ii) the aggregate outstanding principal amount of Indebtedness or other obligations secured by Liens permitted by Section 6.02(g) shall not exceed at any one time the greater of $1,000,000,000 and 12.5% of Consolidated Net Tangible
Assets as of the most recent fiscal quarter end for which financial statements of the Borrower have been delivered pursuant to Section 5.01(a) or (b). 

  
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 SECTION 6.04. Fundamental Changes. The Borrower will not, and will not permit any
Significant Subsidiary to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or
substantially all of the assets of the Borrower and its Subsidiaries taken as a whole (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto
no Default shall have occurred and be continuing, (i) any Subsidiary or other Person may merge into or consolidate with the Borrower in a transaction in which the Borrower is the surviving corporation, (ii) any Subsidiary may merge into or
consolidate with any Subsidiary in a transaction in which the surviving entity is a Wholly Owned Subsidiary, (iii) any Subsidiary may sell, transfer, lease or otherwise dispose of its assets to the Borrower or to a Wholly Owned Subsidiary,
(iv) any Subsidiary may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and is not materially disadvantageous to the Lenders, (v) any Subsidiary
may merge into or consolidate with any other Person if the surviving Person is or becomes by virtue of such transaction a Wholly Owned Subsidiary, and the Borrower determines in good faith that such merger or consolidation is in the best interests
of the Borrower and would not materially adversely affect the Lenders, (vi) the Borrower or any Subsidiary may merge into or consolidate with any other Person; provided that the Borrower or such Subsidiary is the surviving corporation,
(vii) any Subsidiary may merge with any other Person in a transaction in which the surviving entity is not a Subsidiary; provided that such transaction does not constitute the disposition of all or substantially all assets of the
Borrower and its subsidiaries taken as a whole, and (viii) the Borrower may consummate the Separation Transactions and (ix) Hewlett-Packard Financial Services Company and its subsidiaries (or any of its or their successors in the leasing
business) may lease equipment and other assets in the ordinary course of business. 
 SECTION 6.05. Financial Covenants.
(a) After the occurrence of any Board Control Event, the Borrower will not permit the Total Leverage Ratio on the last day of any fiscal quarter to exceed 4.0 to 1.0. 

(b) The Borrower will not permit the ratio of Consolidated EBITDA to Consolidated Net Interest Expense for any period of four
consecutive fiscal quarters ending after the Effective Date and prior to the Maturity Date to be less than 3.0 to 1.0. 
 ARTICLE VII 

Events of Default 
 If any
of the following events (“Events of Default”) shall occur: 
 (a) the Borrower shall fail to pay any
principal of any Loan when and as the same shall become due and payable; 

  
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 (b) the Borrower shall fail to pay any interest on any Loan or any fee or any
other amount (other than an amount referred to in clause (a) of this Article) payable under this Agreement, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days; 

(c) any representation or warranty made or, pursuant to Section 4.02, deemed made by or on behalf of the Borrower or any
Subsidiary in or in connection with this Agreement or any amendment or modification hereof or waiver hereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this Agreement or any
amendment or modification hereof or waiver hereunder, shall prove to have been false or misleading in any material respect when made or deemed made; 

(d) the Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02(a), 5.03
(with respect to the Borrower’s existence), 5.08(b) or Article VI; 
 (e) the Borrower shall fail to observe or
perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of 30 days after notice thereof
from the Administrative Agent or any Lender to the Borrower (which notice will be given at the request of any Lender); 
 (f)
the Borrower or any Subsidiary shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness when and as the same shall become due and payable and such failure shall continue after
the applicable grace period, if any, specified in the agreement or instrument relating to such Material Indebtedness; 
 (g)
any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that requires the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that
this clause (g) shall not apply to (i) secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, (ii) any conversion, repurchase or redemption of any
Material Indebtedness scheduled by the terms thereof to occur on a particular date and not subject to any contingent event or condition related to the creditworthiness, financial performance or financial condition of the Borrower or the applicable
Subsidiaries, or (iii) any repurchase or redemption of any Material Indebtedness pursuant to any put option exercised by the holder of such Material Indebtedness; provided that such put option is exercisable at times specified in the
terms of the Material Indebtedness and is not subject to any contingent event or condition related to the creditworthiness, financial performance or financial condition of the Borrower or the applicable Subsidiaries; 

  
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 (h) an involuntary proceeding shall be commenced or an involuntary petition shall
be filed seeking (i) liquidation, reorganization or other relief in respect of the Borrower or any Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency,
receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Material Subsidiary or for a substantial part of its assets,
and, in any such case referred to in (i) or (ii) above, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 

(i) the Borrower or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking
liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate
manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Material
Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, or (v) make a general assignment for the benefit of creditors; 

(j) the Borrower or any Material Subsidiary shall admit in writing its inability, or fail generally, to pay its debts as they
become due; 
 (k) one or more judgments for the payment of money in an aggregate amount in excess of $250,000,000 shall be
rendered by a court of competent jurisdiction against the Borrower, any Subsidiary or any combination thereof, and the same shall remain undischarged for a period of 45 consecutive days during which execution shall not be effectively stayed, or any
action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any Subsidiary to enforce any such judgment; 

(l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA
Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; or 
 (m) a Change in Control
shall occur; 
 then, and in every such event (other than an event with respect to the Borrower described in clause (h) or (i) of this Article),
and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take either or both of the following actions, at the same or different times:
(i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and
payable 

  
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may thereafter be declared to be due and payable so long as, at the time of such later declaration, an Event of Default is continuing), and thereupon the principal of the Loans so declared to be
due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which
are hereby waived by the Borrower; and in case of any event with respect to the Borrower described in clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding,
together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived
by the Borrower. 
 ARTICLE VIII 

The Administrative Agent 

Each of the Lenders hereby irrevocably appoints the Administrative Agent as its agent, and authorizes the Administrative Agent to take such
actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof, together with such actions and powers as are reasonably incidental thereto. 

The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender
and may exercise the same as though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to, and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate
thereof as if it were not the Administrative Agent hereunder. 
 The Administrative Agent shall not have any duties or obligations except
those expressly set forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing,
(b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to
exercise in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02); provided that the Administrative Agent shall not be required to
take any action that, in its opinion, could expose the Administrative Agent to liability or be contrary to applicable law, and (c) except as expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and shall not
be liable for the failure to disclose, any information relating to the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative
Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 9.02) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed 

  
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not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement, (ii) the contents of any certificate, report or other document delivered hereunder or
in connection herewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement or any other
agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. In addition,
for the avoidance of doubt, the Lenders hereby acknowledge that none of the Joint Lead Arrangers, Joint Bookrunners, or Co-Syndication Agents, set forth on the cover page of this Agreement shall have any powers, duties or responsibilities under this
Agreement, except in its capacity, as applicable, as the Administrative Agent, Swingline Lender or a Lender hereunder. 
 The Administrative
Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website
posting or other distribution) believed by it to be genuine and to have been signed or sent by the proper Person (whether or not such Person in fact meets the requirements set forth herein for being the signatory, sender or authenticator thereof).
The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person (whether or not such Person in fact meets the requirements set forth herein for being the signatory,
sender or authenticator thereof), and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and
shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

The Administrative Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents
appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding
paragraphs shall apply to any such sub-agent selected by the Administrative Agent with reasonable care and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with
the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 
 Subject to the appointment
and acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in
consultation with the Borrower, to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives

  
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notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which shall be a bank with an office in New York, New
York, or an Affiliate of any such bank. If the Person serving as the Administrative Agent becomes a Defaulting Lender under clause (d) of the definition of such term, the Required Lenders may, to the extent permitted by applicable law, by
notice in writing to the Borrower and such Person, remove such Person as Administrative Agent and, in consultation with the Borrower, appoint a successor. If no such successor shall have been so appointed by the Required Lenders and shall have
accepted such appointment by the 30th day following the date of such notice (or such earlier day as shall be agreed by the Required Lenders), then such removal shall nonetheless become effective in accordance with such notice on such 30th day (or
agreed earlier date). Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent,
and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed
between the Borrower and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents
and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 

Each Lender represents that it is engaged in making, acquiring and holding commercial loans in the ordinary course of its business and that it
has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement as a Lender
and to make, acquire and hold Loans hereunder. Each Lender shall, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall from time to time deem appropriate,
continue to make its own decisions in taking or not taking action under or based upon this Agreement, any related agreement or any document furnished hereunder or thereunder and in deciding whether or to the extent to which it will continue as a
Lender or assign or otherwise transfer its rights, interests and obligations hereunder. 
 Each Lender, by delivering its signature page to
this Agreement, or delivering its signature page to an Assignment and Assumption pursuant to which it shall become a Lender hereunder, shall be deemed to have acknowledged receipt of, and consented to and approved, each document required to be
delivered to, or be approved by or satisfactory to, the Administrative Agent or the Lenders on the Effective Date. 
 ARTICLE IX 

Miscellaneous 
 SECTION
9.01. Notices. (a) Except in the case of notices and other communications expressly permitted to be given by telephone and as otherwise set forth 

  
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in subsection (b), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed, e-mail, by certified or
registered mail or sent by telecopy, as follows: 
 (i) if to the Borrower, to it at Hewlett Packard Enterprise Company, 3000
Hanover Street, Palo Alto, CA 94304, Attention of Treasurer (Fax No. (650) 857-4837), with a copy to the General Counsel at the same address and to Fax No. (650) 857-4837; 

(ii) if to the Administrative Agent, to JPMorgan Chase Bank, N.A., JPMorgan Loan Services, 500 Stanton Christiana Road, Ops 2,
3rd Floor Newark, DE 19713, Attention of Kerry Goodnight (Fax No. (302) 634-4712), with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue, New York, NY, 10179, Attention of Donatus Anusionwu (Fax No. (212) 270-5127); provided
that if any notice or other communication relates to Borrowings in a Designated Foreign Currency, then an additional copy shall be delivered, mailed or sent by telecopy to J.P. Morgan Europe Limited, Loans Agency 6th floor, 25 Bank Street, Canary
Wharf, London E14 5JP, United Kingdom, Attention: Loans Agency (Fax No. +44 20 7777 2360); and 
 (iii) if to any other
Lender, to it at its address (or e-mail or fax number) set forth on Schedule 2.01 or in its Administrative Questionnaire. 

(b) Communications to the Lenders may be delivered or furnished by electronic communication (including e-mail and Internet or
intranet websites, including the Platform) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the
Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other Communications pursuant to procedures
approved by it; provided that approval of such procedures may be limited to particular notices or Communications. 

(c) The Administrative Agent agrees that the receipt of the Communications by the Administrative Agent at its e-mail address
set forth above shall constitute effective delivery of the Communications to the Administrative Agent for purposes of this Agreement. Each Lender agrees that notice to it (as provided in the next sentence) specifying that the Communications have
been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of this Agreement. Each Lender agrees (A) to notify the Administrative Agent in writing (including by electronic communication)
from time to time of such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission and (B) that the foregoing notice may be sent to such e-mail address. 

  
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 (d) The Platform is provided “as is” and “as available”. The
Agent Parties (as defined below) do not warrant the accuracy or completeness of the Communications or the adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express,
implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by the Agent Parties in connection with the
Communications or the Platform. In no event shall the Administrative Agent or any of its Affiliates or any of their respective officers, directors, employees, agents, advisors or representatives (collectively, “Agent Parties”) have
any liability to the Borrower, any Lender or any other Person or entity for damages of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of
the Borrower’s or the Administrative Agent’s transmission of Communications through the Internet, except to the extent the liability of any Agent Party is found in a final, nonappealable judgment by a court of competent jurisdiction to
have resulted primarily from the gross negligence or wilful misconduct of, or breach of this Agreement by, such Agent Party. 
 Any party
hereto may change its address, telecopy number or e-mail address for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions
of this Agreement shall be deemed to have been given on the date of receipt. 
 SECTION 9.02. Waivers; Amendments. (a) No
failure or delay by the Borrower, the Administrative Agent or any Lender in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Borrower, the Administrative Agent and the Lenders hereunder are
cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not
be construed as a waiver of any Default, regardless of whether the Administrative Agent or any Lender may have had notice or knowledge of such Default at the time. 

(b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or
agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall (i) increase or extend the
Commitment of any Lender without the written consent of such Lender, (ii) decrease the principal amount of any Loan or decrease the rate of interest thereon, or decrease any fees payable hereunder, without

  
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the written consent of each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest thereon, or any fees payable hereunder,
or decrease the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.16(b) or (c) in a manner
that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof
specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender, or (vi) change any provisions of this
Agreement in a manner that by its terms adversely affects the rights in respect of payments due to Lenders holding Loans of any Class differently than those holding Loans of any other Class, without the written consent of Lenders holding a majority
in interest of the outstanding Loans and unused Commitments of each affected Class; and provided further that (A) no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent or the
Swingline Lenders hereunder without the prior written consent of the Administrative Agent or the Swingline Lenders, as the case may be and (B) any waiver, amendment or modification of this Agreement that by its terms affects the rights or
duties under this Agreement of the Revolving Lenders (but not the Swingline Lender) or the Swingline Lender (but not the Revolving Lenders) may be effected by an agreement or agreements in writing entered into by the Borrower and the requisite
percentage in interest of the affected Class of Lenders that would be required to consent thereto under this Section if such Class of Lenders were the only Class of Lenders hereunder at the time. Notwithstanding the foregoing, any provision of this
Agreement may be amended by an agreement in writing entered into by the Borrower, the Required Lenders and the Administrative Agent (and, if their rights or obligations are affected thereby, the Swingline Lenders) if (i) by the terms of such
agreement the Commitment of each Lender not consenting to the amendment provided for therein shall terminate upon the effectiveness of such amendment and (ii) at the time such amendment becomes effective, each Lender not consenting thereto
receives payment in full of the principal of and interest accrued on each Loan made by it and all other amounts owing to it or accrued for its account under this Agreement. Notwithstanding the foregoing, (1) any provision of this Agreement may
be amended by an agreement in writing entered into by the Borrower and the Administrative Agent to cure any ambiguity, omission, mistake, defect or inconsistency so long as, in each case, the Lenders shall have received at least five Business Days
prior written notice thereof and the Administrative Agent shall not have received, within five Business Days of the date of such notice to the Lenders, a written notice from (x) the Required Lenders stating that the Required Lenders object to
such amendment or (y) if affected by such amendment, any Swingline Lender stating that it objects to such amendment, and (2) the Commitments and Revolving Exposure of any Lender that is at the time a Defaulting Lender shall not be included
in determining whether all Lenders or the Required Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to this Section 9.02); 

  
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provided that any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender which affects such Defaulting Lender differently than other affected
Lenders shall require the consent of such Defaulting Lender. 
 SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The
Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent, in connection with the due
diligence investigation of the Borrower, the syndication of the credit facilities provided for herein, the preparation and administration of this Agreement or any amendments, modifications or waivers of the provisions hereof (whether or not the
transactions contemplated hereby or thereby shall be consummated); provided, however, that only one outside counsel may act on behalf of the Administrative Agent and the Lenders in connection with the preparation and negotiation of
this Agreement, and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent or any Lender, including the reasonable and documented fees, charges and disbursements of any counsel for the Administrative
Agent or any Lender (such fees, charges and disbursements not to include allocated costs of internal counsel), in connection with the enforcement or protection of its rights in connection with this Agreement, including its rights under this Section,
or in connection with the Loans made hereunder, including all such reasonable and documented out-of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

(b) The Borrower shall indemnify the Administrative Agent and each Lender, and each Related Party of any of the foregoing
Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable and documented fees, charges
and disbursements of any counsel for any Indemnitee (not to include allocated costs of internal counsel), incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of this
Agreement or any agreement or instrument contemplated hereby, the performance by the parties hereto of their respective obligations hereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan
or the use of the proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of the Subsidiaries, or any Environmental Liability related in any way
to the Borrower or any of the Subsidiaries; provided that any such losses, claims, damages, liabilities and expenses arise out of or in connection with such Indemnitee’s acting as Administrative Agent, Co-Administrative Agent or a Lender
under this Agreement, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or
any Subsidiary and regardless of whether any Indemnitee is a party thereto; provided that such indemnity set forth in the foregoing clauses (i), (ii), (iii) and (iv) shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable 

  
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judgment to have resulted from the gross negligence or wilful misconduct of, or violation of law by, such Indemnitee. The Borrower will not be liable under this Agreement for any amount paid by
an Indemnitee to settle any claims or actions if the settlement is entered into without the Borrower’s consent, which consent may not be withheld unless such settlement is unreasonable in light of such claims or actions against, and defenses
available to, such Indemnitee. Anything in this Section 9.03(b) to the contrary notwithstanding, the Borrower shall not be liable for the fees and expenses of more than one primary outside counsel and one local outside counsel per jurisdiction
retained by each Indemnitee in connection with the defense of any action for which indemnification is sought hereunder. The Borrower shall have no obligation to any Indemnitee under this Section 9.03(b) for matters for which such Indemnitee has
been fully compensated pursuant to any other provision of this Agreement. This Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 

(c) To the extent that the Borrower fails to pay any amount required to be paid by it to the Administrative Agent or any
Swingline Lender under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent or such Swingline Lender, as the case may be, such Lender’s Applicable Percentage (determined as of the time
that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or
asserted against the Administrative Agent or such Swingline Lender in its capacity as such. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total Loans and unused Revolving
Commitments at the time of such determination. 
 (d) To the extent permitted by applicable law, the Borrower shall not
assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this
Agreement or any agreement or instrument contemplated hereby, the Transactions or any Loan or the use of the proceeds thereof. 

(e) All amounts due under this Section shall be payable promptly after written demand therefor. 

(f) The provisions of this Section 9.03 shall remain operative and in full force and effect regardless of the expiration
of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the invalidity or unenforceability of any term or provision of this Agreement or any
investigation made by or on behalf of the Administrative Agent or any Lender. 
 SECTION 9.04. Successors and Assigns. (a) The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their 

  
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respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of
each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this
Agreement. 
 (b) Any Lender may assign to one or more assignees (other than any Defaulting Lender, natural person or
investment vehicle or trust for the primary benefit of a natural person or relatives of a natural person), all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time
owing to it); provided that (i) except in the case of an assignment to a Lender or an Affiliate of a Lender, each of the Borrower and the Administrative Agent (and, in the case of an assignment, other than to an existing Lender or an
Affiliate of a Lender, of all or a portion of a Commitment or any Lender’s obligations in respect of its Swingline Exposure, each of the Swingline Lenders) must give their prior written consent to such assignment (each such consent not to be
unreasonably withheld or delayed), (ii) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount of the assigning Lender’s Commitment, the amount of the Commitment of the
assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 and shall be an integral multiple
of $5,000,000 unless each of the Borrower and the Administrative Agent otherwise consents, (iii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this
Agreement, except that this clause (iii) shall not be construed to prohibit the assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of one Class of Loans, (iv) the parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500 (payable by the assignor or assignee), and (v) the assignee, if it shall not be a Lender,
shall deliver to the Administrative Agent an Administrative Questionnaire; and provided further that any consent of the Borrower otherwise required under this paragraph shall not be required if an Event of Default under
clause (h) or (i) of Article VII has occurred and is continuing. Subject to acceptance and recording thereof pursuant to paragraph (d) of this Section, from and after the effective date specified in each Assignment and
Assumption, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, shall have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and
obligations under this Agreement, such Lender shall cease to be a party hereto but 

  
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shall continue to be (i) entitled to the benefits of Sections 2.13, 2.14, 2.15 and 9.03 with respect to facts and circumstances occurring prior to the effective date of such assignment,
and (ii) subject to the confidentiality provisions hereof). Any purported sale, assignment, delegation or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be null and void and
instead be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section. 

(c) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall maintain at one of its offices in The
City of New York a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount (and stated interest) of the Loans owing to, each
Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any
reasonable time and from time to time upon reasonable prior notice. 
 (d) Upon its receipt of a duly completed Assignment
and Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in
paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the
Register; provided that if either the assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to Sections 2.04(b) or (c), 2.05(b), 2.16(d) or 9.03(c), the Administrative Agent shall have no
obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with accrued interest thereon. No assignment shall be effective for purposes
of this Agreement unless it has been recorded in the Register as provided in this paragraph. 
 (e) Any Lender may, without
the consent of the Borrower, the Administrative Agent or the Swingline Lenders, sell participations to one or more banks or other entities (each, a “Participant”) in all or a portion of such Lender’s rights and obligations
under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations, and (iii) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to 

  
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which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any
provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to
Section 9.02(b) that affects such Participant. Subject to paragraph (f) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.13, 2.14 and 2.15 to the same extent as if it were a Lender
and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant agrees to be subject to the provisions of Section 2.17 as if it were an assignee under paragraph (b) of this
Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender; provided such Participant agrees to be subject to Section 2.16(c) as though it were a
Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated
interest) of each Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the
Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans or its other obligations under this Agreement) except to the extent that such
disclosure is necessary to establish that such Commitment, Loan or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent
manifest error, and such Lender shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 

(f) A Participant shall not be entitled to receive any greater payment under Sections 2.13 or 2.15 than the applicable
Lender would have been entitled to receive with respect to the participation sold to such Participant, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the
applicable participation. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.15 unless the Borrower is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower, to comply with Section 2.15(g) as though it were a Lender. 
 (g) Any Lender
may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or central bank,
and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such
pledgee or assignee for such Lender as a party hereto. 

  
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 SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by
the Borrower herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this
Agreement (provided, however, that such representations and warranties shall be made or deemed made only as of the Effective Date, the times of any Borrowings hereunder, or such other dates on or as of which such representations and
warranties are specifically required to be made pursuant to the provisions hereof, including, as applicable, in connection with any Incremental Facility under Section 2.19 or any extension of the Maturity Date pursuant to Section 2.20) and
the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or
warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid
and so long as the Commitments have not expired or terminated. The provisions of Sections 2.13, 2.14, 2.15 and 9.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated
hereby, the repayment of the Loans, the expiration or termination of the Commitments or the termination of this Agreement or any provision hereof. 

SECTION 9.06. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto
on different counterparts), each of which shall constitute an original, but all of which, when taken together, shall constitute a single contract. This Agreement and any separate letter agreements with respect to fees payable to the Administrative
Agent and certain Lenders constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as
provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this
Agreement by facsimile or other electronic imaging shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution,” “signed,” “signature,” “delivery” and words of
like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of
which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable
law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

  
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 SECTION 9.07. Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the
invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION
9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply
any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any and all of the
obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. Each Lender
shall promptly notify the Borrower and the Administrative Agent after any such setoff and application made by such Lender. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff)
which such Lender may have. 
 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement
shall be construed in accordance with and governed by the law of the State of New York. 
 (b) Each of the parties hereto
hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of
New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally
agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

(c) Each of the parties hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and
effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (b) of this Section. Each of the
parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

  
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 (d) Each party to this Agreement irrevocably consents to service of process in
the manner provided for notices in Section 9.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL SUIT, ACTION OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 9.12. Confidentiality. Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors on a need-to-know basis (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority,
(c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or
proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective
assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any securitization, swap or derivative transaction relating to the Borrower, any
Subsidiary, and the obligations hereunder, (g) on a confidential basis to any rating agency in connection with rating the Borrower or the credit facilities provided for herein, (h) with the consent of the Borrower, or (i) to the
extent such Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or any Lender on a nonconfidential basis from a source other than the Borrower.
If any Lender or the Administrative Agent is required by any Governmental Authority or any other Person to disclose Information or otherwise intends to disclose any Information pursuant to clause (c) of this Section, unless prohibited by

  
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law such Lender or the Administrative Agent, as the case may be, shall promptly notify the Borrower in writing so as to provide the Borrower with the opportunity to seek a protective order or
take such other actions that are deemed appropriate by the Borrower to protect the confidentiality of the Information. For the purposes of this Section, “Information” means all information received from the Borrower relating to the
Borrower or its business, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by the Borrower and other than information pertaining to this Agreement routinely
provided by arrangers to data service providers, including league table providers, that serve the lending industry. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied
with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. Each Lender confirms that it maintains internal
policies and procedures, including “ethical wall” procedures, intended to protect against the unlawful use of confidential information and such procedures apply to the Information. 

SECTION 9.13. Authorization to Distribute Certain Materials to Public-Siders; Material Non-Public Information. (a) EACH LENDER
ACKNOWLEDGES THAT INFORMATION FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND ITS SUBSIDIARIES OR SECURITIES THEREOF AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES
REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. 

(b) ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER OR THE ADMINISTRATIVE AGENT
PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER AND ITS SUBSIDIARIES OR SECURITIES THEREOF. ACCORDINGLY, EACH LENDER REPRESENTS
TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND
APPLICABLE LAW. 
 (c) If the Borrower does not file this Agreement with the SEC, then the Borrower hereby authorizes the
Administrative Agent to distribute the execution version of this Agreement and the Loan Documents to all Lenders, including their Public-Siders. The Borrower acknowledges its understanding that Public-Siders and their firms may be trading in any of
the Parties’ respective securities while in possession of the Loan Documents 

  
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 (d) The Borrower represents and warrants that none of the information in the Loan
Documents constitutes or contains material non-public information within the meaning of the federal and state securities laws. To the extent that any of the executed Loan Documents constitutes at any time a material non-public information within the
meaning of the federal and state securities laws after the date hereof, the Company agrees that it will promptly make such information publicly available by press release or public filing with the SEC 

SECTION 9.14. Patriot Act. Each Lender hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III
of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower
and other information that will allow such Lender to identify the Borrower in accordance with the Patriot Act. 
 SECTION 9.15.
Conversion of Currencies. (a) If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may
effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately
preceding the day on which final judgment is given. 
 (b) The obligations of the Borrower in respect of any sum due to any
party hereto or any holder of the obligations owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is
stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable
Creditor may in accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the
Applicable Creditor in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of the Borrower contained in this
Section 9.15 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder. 
 SECTION 9.16.
No Fiduciary Duty. The Borrower acknowledges that the Administrative Agent, the Co-Administrative Agent, each Lender and the Affiliates of each of the foregoing, may have economic interests that conflict with those of the Borrower, the
Subsidiaries and their Affiliates. The Borrower, on behalf of itself and the Subsidiaries, agrees that in connection with all aspects of the Transactions and any communications in connection therewith, the Borrower, the Subsidiaries and their
Affiliates, on the one hand, and the Administrative Agent, the Co-Administrative Agent, each Lender and the Affiliates of each of them, on the other hand, will have a business 

  
 82 

 
relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Administrative Agent, the Co-Administrative Agent, the Lenders or any Affiliate of any of
them, and no such duty will be deemed to have arisen in connection with any such transactions or communications. 

  
 83 

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

			
	HEWLETT PACKARD ENTERPRISE COMPANY,
		
	    by	 	
		 	 /s/ Timothy C. Stonesifer

		 	Name: Timothy C. Stonesifer
		 	Title: CFO
	
	JPMORGAN CHASE BANK, N.A., individually and as Administrative Processing Agent and Co-Administrative Agent,
		
	    by	 	
		 	 /s/ Donatus O. Anusionwu

		 	Name: Donatus O. Anusionwu
		 	Title: Vice President
	
	CITIBANK, N.A., individually and as Co-Administrative Agent,
		
	    by	 	
		 	 /s/ Susan Olsen

		 	Name: Susan Olsen
		 	Title: Vice President

  
 84 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: BNP PARIBAS,
		
	    by	 	
		 	 /s/ Nicolas Rabier

		 	Name: Nicolas Rabier
		 	Title: Managing Director
		
	    1by	 	
		 	 /s/ Karim Remtoula

		 	Name: Karim Remtoula
		 	Title: Vice President

  
 85 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: HSBC Bank USA,
		
	    by	 	
		 	 /s/ David Wagstaff

		 	Name: David Wagstaff
		 	Title: Managing Director

  
 86 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: Bank of America, N.A.,
		
	    by	 	
		 	 /s/ Jeannette Lu

		 	Name: Jeanette Lu
		 	Title: Vice President

  
 87 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	 Lender: DEUTSCHE BANK AG NEW
 YORK
BRANCH,

		
	    by	 	
		 	 /s/ Virginia Cosenza

		 	Name: Virginia Cosenza
		 	Title: Vice President
		
	    2by	 	
		 	 /s/ Ming K. Chu

		 	Name: Ming K. Chu
		 	Title: Vice President

  

	2 	For any institution that requires an additional signature line. 

  
 88 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: MIZUHO BANK, LTD.,
		
	    by	 	
		 	 /s/ Bertram H. Tang

		 	Name: Bertram H. Tang
		 	Title: Authorized Signatory

  
 89 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	 Lender: Wells Fargo Bank, National

Association.,

		
	    by	 	
		 	 /s/ Lacy Houstoun

		 	Name: Lacy Houstoun
		 	Title: Director

  
 90 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: Barclays Bank PLC,
		
	    by	 	
		 	 /s/ Ronnie Glenn

		 	Name: Ronnie Glenn
		 	Title: Vice President

  
 91 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: GOLDMAN SACHS BANK USA,
		
	    by	 	
		 	 /s/ Rebecca Kratz

		 	Name: Rebecca Kratz
		 	Title: Authorized Signatory

  
 92 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: ING Bank N.V., Dublin Branch,
		
	    by	 	
		 	 /s/ Sean Hassett

		 	Name: Sean Hassett
		 	Title: Director
		
	    3by	 	
		 	 /s/ Maurice Kenny

		 	Name: Maurice Kenny
		 	Title: Director

  
 93 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: ROYAL BANK OF CANADA,
		
	    by	 	
		 	 /s/ Mark Gronich

		 	Name: Mark Gronich
		 	Title: Authorized Signatory

  
 94 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: SOCIETE GENERALE,
		
	    by	 	
		 	 /s/ Kimberly Metzger

		 	Name: Kimberly Metzger
		 	Title: Director

  
 95 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: The Bank of Tokyo-Mitsubishi UFJ, Ltd.
		
	    by	 	
		 	 /s/ Lillian Kim

		 	Name: Lillian Kim
		 	Title: Director

  
 96 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: Morgan Stanley Bank, N.A.,
		
	    by	 	
		 	 /s/ Michael King

		 	Name: Michael King
		 	Title: Authorized Signatory

  
 97 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	 Lender: Australia and New Zealand Banking

Group Limited,

		
	    by	 	
		 	 /s/ Robert Grillo

		 	Name: Robert Grillo
		 	Title: Director

  
 98 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: Bank of China Los Angeles Branch,
		
	    by	 	
		 	 /s/ Lixin Guo

		 	Name: Lixin Guo
		 	Title: SVP and Branch Manager

  
 99 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	 Lender: Credit Agricole Corporate &

Investment Bank,

		
	    by	 	
		 	 /s/ Mike McIntyre

		 	Name: Mike McIntyre
		 	Title: Director
		
	    4by	 	
		 	 /s/ Aaron Sansone

		 	Name: Aaron Sansone
		 	Title: Vice President

  
 100 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	 Lender: Credit Suisse AG, Cayman Islands

Branch,

		
	    by	 	
		 	 /s/ Christopher Day

		 	Name: Christopher Day
		 	Title: Authorized Signatory
		
	    5by	 	
		 	 /s/ Franziska Schoch

		 	Name: Franziska Schoch
		 	Title: Authorized Signatory

  
 101 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: SANTANDER BANK, N.A.,
		
	    by	 	
		 	 /s/ William Maag

		 	Name: William Maag
		 	Title: Managing Director

  
 102 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: Standard Chartered Bank,
		
	    by	 	
		 	 /s/ Felipe Macia

		 	Name: Felipe Macia
		 	 Title: Managing Director,
 Syndications,
Americas

  
 103 

 
			
	 SIGNATURE PAGE TO THE HEWLETT-PACKARD FIVE-YEAR CREDIT

AGREEMENT

	
	Lender: U.S. Bank,
		
	    by	 	
		 	 /s/ Lukas Coleman

		 	Name: Lukas Coleman
		 	Title: Vice President

  
 104 

 Schedule 2.01 

REVOLVING COMMITMENTS 
  

					
	 Lender
	  	Revolving
Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	314,000,000	  
	 Citibank, N.A.
	  	$	314,000,000	  
	 BNP Paribas
	  	$	314,000,000	  
	 HSBC Bank USA, National Association
	  	$	314,000,000	  
	 Bank of America, N.A.
	  	$	314,000,000	  
	 Deutsche Bank AG New York Branch
	  	$	240,000,000	  
	 Mizuho Bank, Ltd.
	  	$	240,000,000	  
	 Wells Fargo Bank, National Association
	  	$	240,000,000	  
	 Barclays Bank PLC
	  	$	175,000,000	  
	 Goldman Sachs Bank USA
	  	$	175,000,000	  
	 ING Bank N.V., Dublin Branch
	  	$	175,000,000	  
	 Royal Bank of Canada
	  	$	175,000,000	  
	 Société Générale
	  	$	175,000,000	  
	 The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	  	$	129,600,000	  
	 Morgan Stanley Bank, N.A.
	  	$	110,400,000	  
	 Australia and New Zealand Banking Group Limited
	  	$	85,000,000	  
	 Bank of China, Los Angeles Branch
	  	$	85,000,000	  
	 Credit Agricole Corporate & Investment Bank
	  	$	85,000,000	  
	 Credit Suisse AG, Cayman Islands Branch
	  	$	85,000,000	  
	 Santander Bank, N.A.
	  	$	85,000,000	  
	 Standard Chartered Bank
	  	$	85,000,000	  
	 U.S. Bank National Association
	  	$	85,000,000	  
		  	  
	  
	 
	 Total
	  	$	4,000,000,000	  

 SWINGLINE COMMITMENTS 
  

					
	 Swingline Lender
	  	Swingline
Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	300,000,000	  
	 Citibank, N.A.
	  	$	300,000,000	  
	 BNP Paribas
	  	$	300,000,000	  
	 HSBC Bank USA, National Association
	  	$	300,000,000	  
	 Bank of America, N.A.
	  	$	300,000,000	  
		  	  
	  
	 
	 Total
	  	$	1,500,000,000	  

 Schedule 3.05 

LITIGATION AND ENVIRONMENTAL MATTERS 
 References
below to “Parent” are to HP Inc. (f/k/a Hewlett-Packard Company) and to “Company” are to “Hewlett Packard Enterprise Company”. 

Fair Labor Standards Act Litigation. Parent is involved in several lawsuits in which the plaintiffs are seeking unpaid overtime compensation and
other damages based on allegations that various employees of Electronic Data Systems Corporation (“EDS”) or Parent have been misclassified as exempt employees under the Fair Labor Standards Act and/or in violation of the California Labor
Code or other state laws. Those matters include the following: 
  

	 	•	 	Cunningham and Cunningham, et al. v. Electronic Data Systems Corporation is a purported collective action filed on May 10, 2006 in the United States District Court for the Southern District of New
York claiming that current and former EDS employees allegedly involved in installing and/or maintaining computer software and hardware were misclassified as exempt employees. Another purported collective action, Steavens, et al. v. Electronic
Data Systems Corporation, was filed on October 23, 2007 in the same court alleging similar facts. The Steavens case was consolidated for pretrial purposes with the Cunningham case. On December 14, 2010, the
court granted conditional certification of a class consisting of employees in 20 legacy EDS job codes in the consolidated Cunningham/Steavens matter. On December 11, 2013, Parent and plaintiffs’ counsel in the
consolidated Cunningham/Steavens matter, and the Salva matter described below, mediated these cases and reached a settlement agreement. The court approved the settlement on June 16, 2015 and Parent funded the
settlement on July 27, 2015. 

  

	 	•	 	Salva v. Hewlett-Packard Company is a purported collective action filed on June 15, 2012 in the United States District Court for the Western District of New York alleging that certain information
technology employees allegedly involved in installing and/or maintaining computer software and hardware were misclassified as exempt employees under the Fair Labor Standards Act. On December 11, 2013, Parent and plaintiffs’ counsel in the
consolidated Cunningham/Steavens matter and the Salva matter mediated these cases and reached a settlement agreement. The court consolidated the Salva matter into the Cunningham/Steavens matter
and approved the settlement on June 16, 2015. Parent funded the settlement on July 27, 2015. 

  

	 	•	 	Karlbom, et al. v. Electronic Data Systems Corporation is a class action filed on March 16, 2009 in California Superior Court alleging facts similar to the Cunningham and
Steavens matters. The parties are engaged in discovery. 

  

	 	•	 	 Benedict v. Hewlett-Packard Company is a purported class action filed on January 10, 2013 in the United States District Court for
the Northern District of 

	 	 
California alleging that certain technical support employees allegedly involved in installing, maintaining and/or supporting computer software and/or hardware for Parent were misclassified as
exempt employees under the Fair Labor Standards Act. The plaintiff has also alleged that Parent violated California law by, among other things, allegedly improperly classifying these employees as exempt. On February 13, 2014, the court granted
the plaintiff’s motion for conditional class certification. On May 7, 2015, the plaintiffs filed a motion to certify a Rule 23 state class of certain Technical Solutions Consultants in California, Massachusetts, and Colorado that they
claim were improperly classified as exempt from overtime under state law. On July 30, 2015, the court dismissed the Technology Consultant and certain Field Technical Support Consultant opt-ins from the conditionally certified FLSA
collective action. 

 India Directorate of Revenue Intelligence Proceedings. On April 30 and May 10, 2010,
the India Directorate of Revenue Intelligence (the “DRI”) issued show cause notices to Hewlett-Packard India Sales Private Ltd (“HP India”), a subsidiary of Parent, seven HP India employees and one former HP India employee
alleging that HP India underpaid customs duties while importing products and spare parts into India and seeking to recover an aggregate of approximately $370 million, plus penalties. Prior to the issuance of the show cause notices, HP India
deposited approximately $16 million with the DRI and agreed to post a provisional bond in exchange for the DRI’s agreement to not seize HP India products and spare parts and to not interrupt the transaction of business by HP India. 

On April 11, 2012, the Bangalore Commissioner of Customs issued an order on the products-related show cause notice affirming certain duties and penalties
against HP India and the named individuals of approximately $386 million, of which HP India had already deposited $9 million. On December 11, 2012, HP India voluntarily deposited an additional $10 million in connection with the
products-related show cause notice. On April 20, 2012, the Commissioner issued an order on the parts-related show cause notice affirming certain duties and penalties against HP India and certain of the named individuals of approximately
$17 million, of which HP India had already deposited $7 million. After the order, HP India deposited an additional $3 million in connection with the parts-related show cause notice so as to avoid certain penalties. 

HP India filed appeals of the Commissioner’s orders before the Customs Tribunal along with applications for waiver of the pre-deposit of remaining demand
amounts as a condition for hearing the appeals. The Customs Department has also filed cross-appeals before the Customs Tribunal. On January 24, 2013, the Customs Tribunal ordered HP India to deposit an additional $24 million against the
products order, which HP India deposited in March 2013. The Customs Tribunal did not order any additional deposit to be made under the parts order. In December 2013, HP India filed applications before the Customs Tribunal seeking early hearing of
the appeals as well as an extension of the stay of deposit as to HP India and the individuals already granted until final disposition of the appeals. On February 7, 2014, the application for extension of the stay of deposit was granted by the
Customs Tribunal until disposal of the appeals. On October 27, 2014, the Customs Tribunal commenced hearings on the cross-appeals of the Commissioner’s orders. The Customs Tribunal rejected HP India request to remand the matter to

 
the Commissioner on procedural grounds. The hearing scheduled to reconvene on April 6, 2015 was cancelled at the request of the Customs Tribunal. A new hearing date has not been set. 

Russia GPO and Other Anti-Corruption Investigations. The German Public Prosecutor’s Office (“German PPO”) has been conducting an
investigation into allegations that current and former employees of Parent engaged in bribery, embezzlement and tax evasion relating to a transaction between Hewlett-Packard ISE GmbH in Germany, a former subsidiary of Parent, and the General
Prosecutor’s Office of the Russian Federation. The approximately €35 million transaction, which was referred to as the Russia GPO deal, spanned the years 2001 to 2006 and was for the delivery and installation of an IT network. The
German PPO issued an indictment of four individuals, including one current and two former Parent subsidiary employees, on charges including bribery, breach of trust and tax evasion. The German PPO also requested that Parent be made an associated
party to the case, and, if that request is granted, Parent would participate in any portion of the court proceedings that could ultimately bear on the question of whether Parent should be subject to potential disgorgement of profits based on the
conduct of the indicted current and former employees. The Regional Court of Leipzig will determine whether the matter should be admitted to trial. The Polish Central Anti-Corruption Bureau is investigating into potential corrupt actions by a former
employee of Hewlett-Packard Polska Sp. z o.o., an indirect subsidiary of Parent, in connection with certain public-sector transactions in Poland. Parent and the Company are cooperating with these investigating agencies. 

ECT Proceedings. In January 2011, the postal service of Brazil, Empresa Brasileira de Correios e Telégrafos (“ECT”), notified
subsidiary of Parent in Brazil (“HP Brazil”) that it had initiated administrative proceedings to consider whether to suspend HP Brazil’s right to bid and contract with ECT related to alleged improprieties in the bidding and
contracting processes whereby employees of HP Brazil and employees of several other companies allegedly coordinated their bids and fixed results for three ECT contracts in 2007 and 2008. In late July 2011, ECT notified HP Brazil it had decided to
apply the penalties against HP Brazil and suspend HP Brazil’s right to bid and contract with ECT for five years, based upon the evidence before it. In August 2011, HP Brazil appealed ECT’s decision. In April 2013, ECT rejected HP
Brazil’s appeal, and the administrative proceedings were closed with the penalties against HP Brazil remaining in place. In parallel, in September 2011, HP Brazil filed a civil action against ECT seeking to have ECT’s decision revoked. HP
Brazil also requested an injunction suspending the application of the penalties until a final ruling on the merits of the case. The court of first instance has not issued a decision on the merits of the case, but it has denied HP Brazil’s
request for injunctive relief. HP Brazil appealed the denial of its request for injunctive relief to the intermediate appellate court, which issued a preliminary ruling denying the request for injunctive relief but reducing the length of the
sanctions from five to two years. HP Brazil appealed that decision and, in December 2011, obtained a ruling staying enforcement of ECT’s sanctions until a final ruling on the merits of the case. Parent expects the decision to be issued in 2015
and any subsequent appeal on the merits to last several years. 
 Cisco Systems. On August 21, 2015, Cisco Systems, Inc.
(“Cisco”) and Cisco Systems Capital Corporation (“Cisco Capital”) filed an action in Santa Clara County Superior Court for declaratory judgment and breach of contract against Parent in connection with a dispute arising

 
out of a third-party’s termination of a services contract with Parent. As part of that third-party services contract, Parent separately contracted with Cisco on an agreement to utilize Cisco
products and services. Parent prepaid the entire amount due Cisco through a financing arrangement with Cisco Capital. Following the termination of Parent’s services contract with the third-party, Parent no longer required Cisco’s products
and services, and, accordingly, exercised its contractual termination rights under the agreement with Cisco, and requested that Cisco apply the appropriate credit toward the remaining balance owed Cisco Capital. This lawsuit relates to the
calculation of that credit under the agreement between Cisco and Parent. Cisco and Cisco Capital contend that after the credit is applied, Parent still owes Cisco Capital approximately $58 million. Parent contends that under a proper reading of the
agreement, Parent owes nothing to Cisco Capital, and that Cisco owes significant amounts to Parent. No responsive pleadings will be filed until after a December 18, 2015 status conference with the court. 

Abstrax Proceeding. On February 28, 2014, Abstrax, Inc. (“Abstrax”), a company with a principal place of business in Mesa,
Arizona, filed a patent infringement lawsuit against Parent. Abstrax claimed to market software for sales operations and manufacturing operations for configurable products, including those in the custom shutter industry. The case was
pending in U.S. District Court for the Eastern District of Texas, Marshall Division. Abstrax asserted one patent, U.S. Patent 6,240,328, which is directed generally to a method of generating assembly instructions. In its complaint, Abstrax
claimed that Parent’s methods and processes of manufacturing configurable servers, storage, networking devices, PCs, laptops, imaging and printing devices and their sub-systems infringe its patent, as do the products made by the accused
processes. Abstrax also claimed that Parent’s alleged infringement was willful and that the case was exceptional. On November 14, 2014, Parent filed a petition with the U.S. Patent and Trademark Office challenging the validity of
the Abstrax patent based on prior art. In late January 2015, Abstrax dropped its infringement allegations against the manufacturing of PCs and imaging and printing devices from its expert reports. On March 4, 2015, the court heard
Parent’s motion challenging the subject matter of the patent under 35 U.S.C. Section 101. Trial was scheduled for May 11, 2015. The parties reached a settlement in principle in early April, which was finalized on April 28,
2015. The parties settled the matter in April 2015. The district court litigation was dismissed on May 5, 2015. Parent’s challenge to the validity of the patent was terminated on May 18, 2015. 

Stockholder Litigation. As described below, Parent is involved in various stockholder litigation matters commenced against certain current and
former Parent executive officers and/or certain current and former members of Parent’s board of directors in which the plaintiffs are seeking to recover damages related to Parent’s allegedly inflated stock price, certain compensation paid
by Parent to the defendants, other damages and/or injunctive relief: 
  

	 	•	 	 A.J. Copeland v. Raymond J. Lane, et al. (“Copeland I”) is a lawsuit filed on March 7, 2011 in the United States District
Court for the Northern District of California alleging, among other things, that the defendants breached their fiduciary duties and wasted corporate assets in connection with Parent’s alleged violations of the Foreign Corrupt Practices Act of
1977 (“FCPA”), Parent’s severance payments made to Mark Hurd (a former Chairman of Parent’s board 

	 	 
of directors and Parent’s Chief Executive Officer), and Parent’s acquisition of 3PAR Inc. The lawsuit also alleges violations of Section 14(a) of the Securities Exchange Act of
1934 (the “Exchange Act”) in connection with Parent’s 2010 and 2011 proxy statements. On February 8, 2012, the defendants filed a motion to dismiss the lawsuit. On October 10, 2012, the court granted the defendants’
motion to dismiss with leave to file an amended complaint. On November 1, 2012, the plaintiff filed an amended complaint adding an unjust enrichment claim and claims that the defendants violated Section 14(a) of the Exchange Act and
breached their fiduciary duties in connection with Parent’s 2012 proxy statement. On December 13, 14 and 17, 2012, the defendants moved to dismiss the amended complaint. On December 28, 2012, the plaintiff moved for leave to file a
third amended complaint. On May 6, 2013, the court denied the motion for leave to amend, granted the motions to dismiss with prejudice and entered judgment in the defendants’ favor. On May 31, 2013, the plaintiff filed an appeal with
the United States Court of Appeals for the Ninth Circuit. The appeal has been fully briefed and an oral argument date has been scheduled for October 20, 2015. 

 

	 	•	 	A.J. Copeland v. Léo Apotheker, et al. (“Copeland II”) is a lawsuit filed on February 10, 2014 in the United States District Court for the Northern District of California alleging,
among other things, that the defendants used their control over Parent and its corporate suffrage process in effectuating, directly participating in and/or aiding and abetting violations of Section 14(a) of the Exchange Act and Rule 14a-9
promulgated thereunder, and violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder. The complaint asserts claims for breach of fiduciary duty, waste of corporate assets, unjust enrichment, and breach of the
duty of candor. The claims arise out of the circumstances at Parent relating to its 2013 and 2014 proxy statements, the departure of Mr. Hurd as Chairman of Parent’s board of directors and Parent’s Chief Executive Officer, alleged
violations of the FCPA, and Parent’s acquisition of 3PAR Inc. and Autonomy Corporation plc (“Autonomy”). On February 25, 2014, the court issued an order granting Parent’s administrative motion to relate Copeland II to
Copeland I. On April 8, 2014, the court granted the parties’ stipulation to stay the action pending resolution of Copeland I by the United States Court of Appeals for the Ninth Circuit. 

 

	 	•	 	 Cement & Concrete Workers District Council Pension Fund v. Hewlett-Packard Company, et al. is a putative securities class
action filed on August 3, 2012 in the United States District Court for the Northern District of California alleging, among other things, that from November 13, 2007 to August 6, 2010 the defendants violated Sections 10(b) and 20(a) of
the Exchange Act by making statements regarding Parent’s Standards of Business Conduct (“SBC”) that were false and misleading because Mr. Hurd, who was serving as Parent’s Chairman and Chief Executive Officer during that
period, had been violating 

	 	 
the SBC and concealing his misbehavior in a manner that jeopardized his continued employment with Parent. On February 7, 2013, the defendants moved to dismiss the amended complaint. On
August 9, 2013, the court granted the defendants’ motion to dismiss with leave to amend the complaint by September 9, 2013. The plaintiff filed an amended complaint on September 9, 2013, and the defendants moved to dismiss that
complaint on October 24, 2013. On June 25, 2014, the court issued an order granting the defendants’ motions to dismiss and on July 25, 2014, plaintiff filed a notice of appeal to the United States Court of Appeals for the Ninth
Circuit. On November 4, 2014, the plaintiff-appellant filed its opening brief in the Court of Appeals for the Ninth Circuit. Parent filed its answering brief on January 16, 2015 and the plaintiff-appellant’s reply brief was filed on
March 2, 2015. Oral argument has not yet been scheduled. 

 Autonomy-Related Legal Matters 

Investigations. As a result of the findings of an ongoing investigation, Parent has provided information to the U.K. Serious Fraud Office, the
U.S. Department of Justice (“DOJ”) and the SEC related to the accounting improprieties, disclosure failures and misrepresentations at Autonomy that occurred prior to and in connection with Parent’s acquisition of Autonomy. On
November 21, 2012, DOJ representatives advised Parent that they had opened an investigation relating to Autonomy. On February 6, 2013, representatives of the U.K. Serious Fraud Office advised Parent that they had also opened an
investigation relating to Autonomy. On January 19, 2015, the U.K. Serious Fraud Office notified Parent that it was closing its investigation and had decided to cede jurisdiction of the investigation to the U.S. authorities. Parent is
cooperating with the DOJ and the SEC, whose investigations are ongoing. 
 Litigation. As described below, Parent is involved in various
stockholder litigation relating to, among other things, its October 2011 acquisition of Autonomy and its November 20, 2012 announcement that it recorded a non-cash charge for the impairment of goodwill and intangible assets within its Software
segment of approximately $8.8 billion in the fourth quarter of its 2012 fiscal year and Parent’s statements that, based on Parent’s findings from an ongoing investigation, the majority of this impairment charge related to accounting
improprieties, misrepresentations to the market and disclosure failures at Autonomy that occurred prior to and in connection with Parent’s acquisition of Autonomy and the impact of those improprieties, failures and misrepresentations on the
expected future financial performance of the Autonomy business over the long term. This stockholder litigation was commenced against, among others, certain current and former Parent executive officers, certain current and former members of
Parent’s board of directors and certain advisors to Parent. The plaintiffs in these litigation matters are seeking to recover certain compensation paid by Parent to the defendants and/or other damages. These matters include the following: 

 

	 	•	 	 In re HP Securities Litigation consists of two consolidated putative class actions filed on November 26 and 30, 2012 in the United
States District Court for the Northern District of California alleging, among other 

	 	 
things, that from August 19, 2011 to November 20, 2012, the defendants violated Sections 10(b) and 20(a) of the Exchange Act by concealing material information and making false
statements related to Parent’s acquisition of Autonomy and the financial performance of Parent’s enterprise services business. On May 3, 2013, the lead plaintiff filed a consolidated complaint alleging that, during that same period,
all of the defendants violated Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5(b) by concealing material information and making false statements related to Parent’s acquisition of Autonomy and that certain defendants violated
SEC Rule 10b-5(a) and (c) by engaging in a “scheme” to defraud investors. On July 2, 2013, Parent filed a motion to dismiss the lawsuit. On November 26, 2013, the court granted in part and denied in part Parent’s motion
to dismiss, allowing claims to proceed against Parent and Margaret C. Whitman based on alleged statements and/or omissions made on or after May 23, 2012. The court dismissed all of the plaintiff’s claims that were based on alleged
statements and/or omissions made between August 19, 2011 and May 22, 2012. The lead plaintiff filed a motion for class certification on November 4, 2014 and, on December 15, 2014, defendants filed their opposition to the motion.
On June 9, 2015, Parent entered into a settlement agreement with the lead plaintiff in the consolidated securities class action. Under the terms of the settlement, Parent, through its insurers, will contribute $100 million to a settlement fund
that will be used to compensate persons who purchased Parent’s shares during the period from August 19, 2011 through November 20, 2012. No individual is contributing to the settlement. Parent and its current and former officers,
directors, and advisors will be released from any Autonomy-related securities claims as part of the settlement. On July 17, 2015, the court granted preliminary approval to the settlement. The court has set a hearing date of November 13,
2015 to determine whether to grant final approval to the settlement. 

  

	 	•	 	 In re Hewlett-Packard Shareholder Derivative Litigation consists of seven consolidated lawsuits filed beginning on November 26,
2012 in the United States District Court for the Northern District of California alleging, among other things, that the defendants violated Sections 10(b) and 20(a) of the Exchange Act by concealing material information and making false statements
related to Parent’s acquisition of Autonomy and the financial performance of Parent’s enterprise services business. The lawsuits also allege that the defendants breached their fiduciary duties, wasted corporate assets and were unjustly
enriched in connection with Parent’s acquisition of Autonomy and by causing Parent to repurchase its own stock at allegedly inflated prices between August 2011 and October 2012. One lawsuit further alleges

	 	 
that certain individual defendants engaged in or assisted insider trading and thereby breached their fiduciary duties, were unjustly enriched and violated Sections 25402 and 25403 of the
California Corporations Code. On May 3, 2013, the lead plaintiff filed a consolidated complaint alleging, among other things, that the defendants concealed material information and made false statements related to Parent’s acquisition of
Autonomy and Autonomy’s Intelligent Data Operating Layer technology and thereby violated Sections 10(b) and 20(a) of the Exchange Act, breached their fiduciary duties, engaged in “abuse of control” over Parent, corporate waste and
were unjustly enriched. The litigation was stayed until June 2014. The lead plaintiff filed a stipulation of proposed settlement on June 30, 2014. The court declined to grant preliminary approval to this settlement, and, on December 19,
2014, also declined to grant preliminary approval to a revised version of the settlement. On January 22, 2015, the lead plaintiff moved for preliminary approval of a further revised version of the settlement. On March 13, 2015, the court
issued an order granting preliminary approval to the settlement. On July 24, 2015, the court held a hearing to entertain any remaining objections to the settlement and decide whether to grant final approval of the settlement. On July 30,
2015, the court granted final approval to the settlement and denied all remaining objections to the settlement. Certain objectors to the settlement have appealed the court’s final approval order. 

 

	 	•	 	In re HP ERISA Litigation consists of three consolidated putative class actions filed beginning on December 6, 2012 in the United States District Court for the Northern District of California
alleging, among other things, that from August 18, 2011 to November 22, 2012, the defendants breached their fiduciary obligations to Parent’s 401(k) Plan and its participants and thereby violated Sections 404(a)(1) and 405(a) of the
Employee Retirement Income Security Act of 1974, as amended, by concealing negative information regarding the financial performance of Autonomy and Parent’s enterprise services business and by failing to restrict participants from investing in
Parent stock. On August 16, 2013, Parent filed a motion to dismiss the lawsuit. On March 31, 2014, the court granted Parent’s motion to dismiss this action with leave to amend. On July 16, 2014, the plaintiffs filed a second
amended complaint containing substantially similar allegations and seeking substantially similar relief as the first amended complaint. On June 15, 2015, the court granted Parent’s motion to dismiss the second amended complaint in its
entirety and denied plaintiffs leave to file another amended complaint. On July 2, 2015, plaintiffs appealed the court’s order to the United States Court of Appeals for the Ninth Circuit. 

	 	•	 	Vincent Ho v. Margaret C. Whitman, et al. is a lawsuit filed on January 22, 2013 in California Superior Court alleging, among other things, that the defendants breached their fiduciary duties and
wasted corporate assets in connection with Parent’s acquisition of Autonomy and by causing Parent to repurchase its own stock at allegedly inflated prices between August 2011 and October 2012. On April 22, 2013, the court stayed the
lawsuit pending resolution of the In re Hewlett-Packard Shareholder Derivative Litigation matter in federal court. Two additional derivative actions, James Gould v. Margaret C. Whitman, et al. and Leroy Noel v. Margaret C. Whitman,
et al., were filed in California Superior Court on July 26, 2013 and August 16, 2013, respectively, containing substantially similar allegations and seeking substantially similar relief. Those actions were also stayed pending
resolution of the In re Hewlett-Packard Shareholder Derivative Litigation matter. The court’s final approval of the settlement of the federal derivative case resulted in a release of the claims asserted in all three actions other than
claims asserted against Michael Lynch, the former chief executive officer of Autonomy. The Ho matter was dismissed in its entirety with prejudice on August 13, 2015. 

 

	 	•	 	Cook v. Whitman, et al. is a lawsuit filed on March 18, 2014 in the Delaware Chancery Court, alleging, among other things, that the defendants breached their fiduciary duties and wasted corporate
assets in connection with Parent’s acquisition of Autonomy. On May 15, 2014, Parent moved to dismiss or stay the Cook matter. On July 22, 2014, the Delaware Chancery Court stayed the motion pending the United States District
Court’s hearing on preliminary approval of the proposed settlement in the In re Hewlett- Packard Shareholder Derivative Litigation matter. The court’s final approval of the settlement of the federal derivative case resulted in a
release of all the claims asserted in the Cook matter other than those asserted against Michael Lynch, Sushovan Hussain, the former chief financial officer of Autonomy, and Deloitte UK. The Cook matter was dismissed by stipulation and
order on August 19, 2015. 

 Environmental 

The Company’s operations and products are or may in the future become subject to various federal, state, local and foreign laws and regulations concerning
environmental protection, including laws addressing the discharge of pollutants into the air and water, the management and disposal of hazardous substances and wastes, the clean-up of contaminated sites, the substances and materials used in the
Company’s products, the energy consumption of products, services and operations and the operational or financial responsibility for recycling, treatment and disposal of those products. This includes legislation that makes producers of
electrical goods, including servers and networking equipment, financially responsible for specified collection, recycling, 

 
treatment and disposal of past and future covered products (sometimes referred to as “product take-back legislation”). The Company could incur
substantial costs, its products could be restricted from entering certain jurisdictions, and it could face other sanctions, if it were to violate or become liable under environmental laws or if its products become
non-compliant with environmental laws. The Company’s potential exposure includes impacts on revenue, fines and civil or criminal sanctions, third-party property
damage or personal injury claims and clean-up costs. The amount and timing of costs to comply with environmental laws are difficult to predict. 

In particular the Company may become a party to, or otherwise involved in, proceedings brought by U.S. or state environmental agencies under the Comprehensive
Environmental Response, Compensation and Liability Act (“CERCLA”), known as “Superfund,” or other state, federal or foreign laws and regulations addressing the clean-up of contaminated sites, and may become a party to, or
otherwise involved in, proceedings brought by private parties for contribution towards clean-up costs. The Company is also contractually obligated to make financial contributions to address actions related to certain environmental liabilities, both
ongoing and arising in the future, pursuant to its separation and distribution agreement with Parent. 

 Schedule 6.01 

EXISTING SUBSIDIARY INDEBTEDNESS 
 Indebtedness
of HP International SARL Bank, consisting of approximately $329 million of mortgage indebtedness or notes payable and $186 million of commercial paper. 

Indebtedness of HPFS US Inc., consisting of approximately $171 million of mortgage indebtedness or notes payable. 

Indebtedness of HPES LLC, consisting of approximately $382 million of mortgage indebtedness or notes payable and $13 million of discounts and premiums. 

Indebtedness of HP Argentina S.A., Hewlett-Packard GmbH and MphasiS, consisting of $125 million of mortgage indebtedness or notes payable. 

Indebtedness of other subsidiaries in an approximate amount of $75 million. 

Aggregate indebtedness of subsidiaries of the Borrower: $1.3 billion. Note, amounts above may be denominated in currencies other than United States dollars.

 EXHIBIT A 

[FORM OF] 
 ASSIGNMENT AND
ASSUMPTION 
 This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth
below and is entered into by and between the Assignor (as defined below) and the Assignee (as defined below). Capitalized terms used in this Assignment and Assumption and not otherwise defined herein have the meanings specified in the Credit
Agreement dated as of November 1, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Hewlett Packard Enterprise Company (the “Borrower”), the
Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and Co-Administrative Agent, and Citibank, N.A., as Co-Administrative Agent, receipt of a copy of which is
hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full.

 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably
purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below, (i) all of the
Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of
such outstanding rights and obligations of the Assignor under the facility identified below (including participations in any Swingline Loans included in such facility) and (ii) to the extent permitted to be assigned under applicable law, all
claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered
pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in
equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the
“Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

 

	 	1.	Assignor (the “Assignor”): 

  

	 	2.	Assignee (the “Assignee”): 

 [Assignee is an Affiliate of: [Name of Lender]]

  

	 	3.	Borrower: Hewlett Packard Enterprise Company 

  

	 	4.	Administrative Agent: JPMorgan Chase Bank, N.A. 

  

	 	5.	Assigned Interest: 

									
	 	  	 Aggregate Amount

of
 Commitment/Loans

of all Lenders
	  	Amount of
Commitment/Loans
Assigned	  	Percentage
Assigned of
Commitment/
Loans1	 
	 Commitment
	  	$            	  	$            	  	 	%	  
	 Loans
	  	$            	  	$            	  	 	%	  

 Effective Date:                  ,
20[    ] [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR]. 
  

 

	1 	Set forth, to at least 8 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	 [NAME OF ASSIGNOR], as

Assignor,

		
	by  	 	  

		 	Name:
		 	Title:

  

			
	 [NAME OF ASSIGNEE]2, as

Assignee,

		
	by  	 	  

		 	Name:
		 	Title:

  

	2 	Must not be a Defaulting Lender, natural person or investment vehicle or trust for the primary benefit of a natural person or relatives of a natural person. 

 [Consented to and]3 Accepted: 

 

			
	 JPMORGAN CHASE BANK, N.A.,
 as
Administrative Agent,

		
	by  	 	  

		 	Name:
		 	Title:

 [Consented to:] 
  

			
	 [[EACH SWINGLINE LENDER],
 as
Swingline Lender,

		
	by  	 	  

		 	Name:
		 	Title:]4

  

			
	 [HEWLETT PACKARD ENTERPRISE COMPANY,

as Borrower,

		
	by  	 	  

		 	Name:
		 	Title:]5

  

	3 	No consent of the Administrative Agent shall be required for an assignment to a Lender or an Affiliate of a Lender. 

	4 	No consent of the Swingline Lenders shall be required for an assignment to a Lender or an Affiliate of a Lender. 

	5 	No consent of the Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender or, if an Event of Default under clause (h) or (i) of Article VII of the Credit Agreement has occurred and is
continuing, any other assignee. 

 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION6 

1. Representations and Warranties. 

1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned
Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and
to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Credit Agreement, (iii) the financial condition of the Borrower or any of its Subsidiaries or Affiliates or (iv) the performance or observance by the Borrower or any other
Person of any of their respective obligations under the Credit Agreement. 
 1.2. Assignee. The Assignee (a) represents and
warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit
Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it
shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with
copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and
Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (v) attached to this Assignment and Assumption
is any documentation required to be delivered by it pursuant to Section 2.15(g) of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Assignor,
the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, and (ii) it
will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender. 

2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest
(including payments of principal, interest, 
  

	6 	Capitalized terms used and not otherwise defined herein have the meanings specified in the Credit Agreement dated as of November 1, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among Hewlett Packard Enterprise Company, the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and Co-Administrative Agent, and Citibank, N.A., as Co-Administrative Agent

 
fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

 3. General Provisions. This Assignment and Assumption shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by facsimile or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be construed in accordance with and governed by the
law of the State of New York. 

 EXHIBIT B-1 

[FORM OF] 
 OPINION OF
BORROWER’S COUNSEL 
 [See attached] 

 Form of Opinion of Internal Counsel 

November 1, 2015 
 To the Lenders party to the 

Five-Year Credit Agreement referred to below 
 and to JPMorgan
Chase Bank, N.A., as Administrative Agent under the Credit Agreement 
 Re: Hewlett Packard Enterprise Company — Five-Year Credit
Agreement 
 Ladies and Gentlemen: 
 I am Senior Vice
President, Deputy General Counsel and Assistant Secretary of Hewlett Packard Enterprise Company, a Delaware corporation (the “Borrower”). This opinion is being delivered to you pursuant to Section 4.01(c) of the Five-Year Credit
Agreement, dated as of November 1, 2015 (the “Agreement”), among the Borrower, the lending institutions from time to time party thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as administrative processing agent and
co-administrative agent for the Lenders (the “Administrative Agent”) and Citibank, N.A., as co-administrative agent. Capitalized terms used but not defined herein have the meanings assigned to them in the Agreement. 

In that connection, I have examined originals, or copies certified or otherwise identified to our satisfaction, of such documents, corporate records and other
instruments as we have deemed necessary or appropriate for purposes of this opinion, including (i) the Agreement, (ii) the Certificate of Incorporation of the Borrower, (iii) the Bylaws of the Borrower and (iv) the unanimous
written consent of the Board of Directors of the Borrower, dated September 17, 2015. I have also examined such other documents as I have considered necessary to examine in order to give the opinions set forth herein. 

In rendering my opinion, I have assumed the due authorization, execution and delivery of the Agreement by all parties thereto other than the Borrower; the
genuineness and authenticity of all signatures on original documents by all parties thereto other than the Borrower; the authenticity of all documents submitted to me as originals; the conformity to originals of all documents submitted to me as
copies; the accuracy, completeness and authenticity of certificates of public officials; that you have received all documents you were to receive under the Agreement; and that the Agreement and the documents and agreements executed and delivered in
connection therewith are the only agreements relating to the rights and obligations of the parties under the Agreement. As to certain questions of fact material to such opinions, I have relied, when relevant facts were not independently established
by me, upon certificates of public officials. 
 I am a member of the bar of the States of New York and of Texas. My opinions are expressed only with
respect to the federal laws of the United States of America, the law of State of New York and the General Corporation Law of the State of Delaware. I assume no obligation to revise or supplement any of these opinions should such laws be changed by
legislative action, judicial decision or otherwise. I express no opinion as to whether the laws of any particular jurisdiction apply, and no opinion to the extent that the laws of any jurisdiction other than those identified above are applicable to
the subject matter hereof. 

 My opinions are limited to the facts as they presently exist. I express no opinion as to, and disclaim any
undertaking or obligation to update any of these opinions in respect of, changes of circumstances or events that occur subsequent to the date hereof. 

Based on the foregoing and subject to the qualifications set forth herein, I am of the opinion as follows: 

1. The Borrower has all necessary corporate power and authority to execute and deliver the Agreement and to perform its obligations thereunder. 

2. The execution and delivery by the Borrower of the Agreement and the performance by the Borrower of its obligations thereunder and the Borrowings, if any,
under the Agreement (a) are within the Borrower’s corporate powers, (b) have been duly authorized by all necessary corporate action, and (c) require no authorization, approval or other action by or in respect of, or notice to,
consent of, order of or filing with, any Governmental Authority. 
 3. The Agreement has been duly executed and delivered by the Borrower and constitutes a
legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and other similar laws relating to or
affecting creditors’ rights generally and to general principles of equity from time to time in effect (regardless of whether enforcement is sought in a proceeding in equity or at law). 

This opinion is rendered only to the Administrative Agent and the Lenders under the Agreement and their permitted successors and assigns under the Agreement
and is solely for their benefit in connection with the above transactions. This opinion may not be relied upon by any other person or for any other purpose, or used, circulated, quoted or otherwise referred to for any of purpose. 

 

	
	Very truly yours,
	
	  

	Rishi Varma

 Senior Vice President, Deputy General Counsel and Assistant Secretary 

 Form of Opinion of Gibson, Dunn & Crutcher LLP 

Client: 38126-00643 
 November 1, 2015 

The Lenders listed on Schedule I hereto, 

            and Citibank, N.A., as Administrative 

            Agent (collectively, the “Lender Parties”) 

 

	Re:	Five-Year Credit Agreement dated as of November 1, 2015 among Hewlett Packard Enterprise Company, the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Processing Agent and Co-Administrative
Agent, and Citibank, N.A. as Co-Administrative Agent 

 Ladies and Gentlemen: 

We have acted as special counsel to Hewlett Packard Enterprise Company, a Delaware corporation (the “Borrower”), in connection with
the Five-Year Credit Agreement dated as of November 1, 2015 (the “Credit Agreement”) among the Borrower, the Lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Process Agent and Co-Administrative
Agent for the Lenders, and Citibank, N.A. as Co-Administrative Agent for the Lenders. Terms defined in the Credit Agreement and not otherwise defined herein are used herein as therein defined. 

This opinion is delivered pursuant to Section 4.01(c) of the Credit Agreement. 

In rendering this opinion, we have examined originals or copies, certified or otherwise identified to our satisfaction as being true copies,
of the Credit Agreement and such other documents as we have deemed necessary to render our opinion set forth herein. As to certain factual matters, we have relied to the extent we deemed appropriate and without independent investigation upon a
certificate of officers of the Borrower. 
 Based upon the foregoing and in reliance thereon, and subject to the qualifications, exceptions,
assumptions and limitations herein contained, we are of the opinion that: 
 1. The execution and delivery by the Borrower of the Credit
Agreement, and the incurrence of debt and performance of its obligations thereunder, do not result in a breach or violation of Regulation U or Regulation X of the Board of Governors of the Federal Reserve System (“Regulation U” and
“Regulation X”, respectively). Regulation T of the Board of Governors of the Federal Reserve System (“Regulation T”) does not apply to any Lender that is not a “creditor” (as defined in Regulation T). Regulation T
defines “creditor” as any broker or dealer (as defined in Sections 3(a)(4) and 3(a)(5) of the Securities Exchange Act of 1934 (the 

 The Lender Parties 

November [    ], 2015 
 Page 2 

 

 
“1934 Act”)), any member of a national securities exchange, or any person associated with a broker or dealer (as defined in Section 3(a)(18) of the 1934 Act), except for business
entities controlling or under common control with the creditor; and 
 2. The Borrower is not required to register as an “investment
company” within the meaning of the Investment Company Act of 1940, as amended (the “Investment Company Act”). 
 In
connection with our opinion in paragraph 1 above, we have assumed, without independent investigation, that (i) solely with respect to factual matters, the representation and warranty of the Borrower set forth in Section 3.10(a) of the
Credit Agreement is and will be true and correct at all relevant times and (ii) less than 25% of the value of the assets of the Borrower and its Subsidiaries taken as a whole, or of any of the Borrower and any of its Subsidiaries, individually,
subject to the negative covenants in the Credit Agreement consists and will consist at all relevant times of “margin stock” within the meaning of Regulation U or Regulation X. Except as expressly set forth herein, we express no opinion
with respect to Regulation T. 
 This opinion is limited to (1) Regulation T, Regulation U, and Regulation X and (2) the
Investment Company Act, in each case as currently in effect and the facts as they currently exist. We assume no obligation to revise or supplement this opinion in the event of future changes in such regulations or the interpretations thereof or such
facts. 
 This opinion is rendered as of the date hereof to the Lender Parties in connection with the Credit Agreement and may not be relied
upon by any other Person or by them in any other context. The Lender Parties may not furnish this opinion or copies hereof to any other person except (i) to bank examiners and other regulatory authorities should they so request in connection
with their normal examinations, (ii) to the independent auditors and attorneys of the Lender Parties, (iii) pursuant to order or legal process of any court or governmental agency, (iv) in connection with any legal action to which any
of the Lender Parties is a party arising out of the transactions contemplated by the Credit Agreement, or (v) any potential permitted assignee of or participant in the interest of any Lender Party under the Credit Agreement for its information.
Notwithstanding the foregoing, parties referred to in clause (v) of the immediately preceding sentence who become Lenders after the date hereof may rely on this opinion as if it were addressed to them (provided that such delivery shall not
constitute a re-issue or reaffirmation of this opinion as of any date after the date hereof). This opinion may not be quoted without the prior written consent of this Firm. 

Very truly yours, 

 Schedule I 

Lenders 
 JPMorgan Chase Bank, N.A. 

Citibank, N.A. 
 BNP Paribas 

HSBC Bank USA, National Association 
 Bank of America, N.A. 

Deutsche Bank AG New York Branch 
 Mizuho Bank, Ltd. 

Wells Fargo Bank, National Association 
 Barclays Bank PLC 

Goldman Sachs Bank USA 
 ING Bank N.V., Dublin Branch 

Royal Bank of Canada 
 Société
Générale 
 The Bank of Tokyo-Mitsubishi UFJ, Ltd. 

Morgan Stanley Bank, N.A. 
 Australia and New Zealand Banking
Group Limited 
 Bank of China, Los Angeles Branch 
 Credit
Agricole Corporate & Investment Bank 
 Credit Suisse AG, Cayman Islands Branch 

Santander Bank, N.A. 
 Standard Chartered Bank 

U.S. Bank National Association 

 EXHIBIT B-2 

[FORM OF] 
 SOLVENCY CERTIFICATE

 November 1, 2015 

Reference is made to the Credit Agreement dated as of November 1, 2015 (as amended, restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Hewlett Packard Enterprise Company (the “Borrower”), the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and Co-Administrative Agent, and
Citibank, N.A., as Co-Administrative Agent. Capitalized terms used in this Solvency Certificate and not otherwise defined herein have the meanings specified in the Credit Agreement. 

This certificate is being delivered pursuant to Section 4.01(f) of the Credit Agreement. The undersigned hereby certifies (a) that
he or she is knowledgable about the financial and accounting matters of the Borrower and the Subsidiaries and (b) that, on behalf of the Borrower in his or her capacity as a Financial Officer thereof, as of the date hereof after giving effect
to the Credit Agreement, Separation Transactions and other transactions to be consummated on the date hereof: 
  

	 	(a)	the fair value of the assets of the Borrower and the Subsidiaries, taken as a whole, exceeds their debts and liabilities, subordinated, contingent or otherwise; 

 

	 	(b)	the present fair saleable value of the assets of the Borrower and the Subsidiaries, taken as a whole, is greater than the amount that will be required to pay the probable liability on their debts and other liabilities,
subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; 

  

	 	(c)	the Borrower and the Subsidiaries, taken as a whole, are able to pay their debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and 

 

	 	(d)	the Borrower and the Subsidiaries, taken as a whole, do not have unreasonably small capital with which to conduct the business in which they are engaged, as such business is conducted at the time of and is proposed to
be conducted following the Restatement Effective Date. 

 For purposes of the foregoing, the amount of any contingent
liability at any time shall be computed as the amount that would reasonably be expected to become an actual and matured liability. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, the undersigned has executed this Solvency Certificate in such
undersigned’s capacity as a Financial Officer of the Borrower, on behalf of the Borrower, as of the date first stated above. 
  

			
	 HEWLETT PACKARD ENTERPRISE

COMPANY

		
	by  	 	  

		 	Name:
		 	Title:

 EXHIBIT C-1 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Credit Agreement dated as of November 1, 2015 (as amended, restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Hewlett Packard Enterprise Company (the “Borrower”), the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”) and Co-Administrative Agent, and Citibank, N.A., as Co-Administrative Agent. 
 Pursuant to the
provisions of Section 2.15 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any promissory note(s) evidencing such Loan(s)) in respect of which it is
providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and
(iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The
undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-US Person status on IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable. By executing this certificate, the undersigned agrees that
(1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative
Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

 EXHIBIT C-2 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Credit Agreement dated as of November 1, 2015 (as amended, restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Hewlett Packard Enterprise Company (the “Borrower”), the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”) and Co-Administrative Agent, and Citibank, N.A., as Co-Administrative Agent. 
 Pursuant to the
provisions of Section 2.15 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect
partners/members are the sole beneficial owners of such participation, (iii) with respect to such participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement
entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of
Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its
partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E (or
successor form), as applicable, from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in
which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise
defined herein, terms defined in the Credit Agreement and used herein have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

 EXHIBIT C-3 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Credit Agreement dated as of November 1, 2015 (as amended, restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Hewlett Packard Enterprise Company (the “Borrower”), the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”) and Co-Administrative Agent, and Citibank, N.A., as Co-Administrative Agent. 
 Pursuant to the
provisions of Section 2.15 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank
within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related
to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with a
certificate of its non-US Person status on IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the
undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment
is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

 EXHIBIT C-4 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Credit Agreement dated as of November 1, 2015 (as amended, restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Hewlett Packard Enterprise Company (the “Borrower”), the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”) and Co-Administrative Agent, and Citibank, N.A., as Co-Administrative Agent. 
 Pursuant to the
provisions of Section 2.15 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any promissory note(s) evidencing such Loan(s)) in respect of which it is providing this
certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any promissory note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit
Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning
of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect
partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The
undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or
IRS Form W-8BEN-E (or successor form), as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), as applicable, from each of such partner’s/member’s beneficial owners that is
claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative
Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the
undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:             , 20[    ]

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