Document:

exhibit41formofglobalnot

                                                                                       Exhibit 4.1         THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE  HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A  NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A  SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE  REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE  THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.          UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE  DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,  EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE  & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE  DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO  SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE  DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR  OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,  CEDE & CO., HAS AN INTEREST HEREIN.                                   L3HARRIS TECHNOLOGIES, INC.                              FLOATING RATE NOTES DUE MARCH 2023  Registered No. R-___                                                           CUSIP:  502431 AG  Issue Date:  _______________                                                ISIN:  US502431AG48                                                                                 $_______________           L3HARRIS TECHNOLOGIES, INC., a corporation duly organized and existing under the laws of the State  of Delaware, promises to pay to Cede & Co. or registered assigns, the principal amount of $_______________ (as  may be increased or decreased as reflected on the Schedule of Increases or Decreases attached hereto) on March 10,  2023.          This Security shall bear interest at a floating rate described on the reverse hereof.                    Interest Payment Dates:             March 10, June 10, September 10 and December 10         Record Dates:                       The close of business on the 15th calendar day, whether                                             or not a Business Day, immediately preceding the                                             applicable Interest Payment Date           Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which  further provisions shall for all purposes have the same effect as if set forth at this place. Unless the Trustee’s  Certificate of Authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual  signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any  purpose.   Dated:  _______________                      L3HARRIS TECHNOLOGIES, INC.                                                  By: _____________________________________                                                               Name:                                                       Title:      TRUSTEE’S CERTIFICATE OF AUTHENTICATION          This is one of the Securities of the series designated herein and referred to in the within-mentioned  Indenture.                                                THE BANK OF NEW YORK MELLON TRUST                                               COMPANY, N.A., as Trustee                                                     By:                                                                                 Authorized Signatory  Dated:  _______________                                                    

 

                              REVERSE OF SECURITY                      FLOATING RATE NOTES DUE MARCH 2023   1.    Interest.         This Security shall bear interest at a floating rate of interest, reset quarterly, from the date  of original issuance or from the most recent Interest Payment Date (as defined below) to which  interest has been paid or provided for until maturity.           L3Harris Technologies, Inc. (the “Company”) will pay interest quarterly in arrears on  March 10, June 10, September 10 and December 10 of each year (each, an “Interest Payment  Date”), commencing on June 10, 2020, or if any such Interest Payment Date is not a Business  Day, then on the next succeeding Business Day. The per annum interest rate for the period from  the issue date to, but not including, the first Interest Payment Date will be equal to LIBOR on  March 13, 2020, plus 75 basis points (the “Initial Interest Rate”). Following the initial Interest  Period, the per annum interest rate on this Security for each subsequent Interest Period will be  equal to LIBOR as determined on the related LIBOR Determination Date (as defined below),  plus 75 basis points. The interest rate applicable to any day in a given Interest Period shall be  either (i) the Initial Interest Rate or (ii) the interest rate as effective on the Interest Payment Date  (as determined on the applicable LIBOR Determination Date) of such Interest Period. Interest on  this Security shall accrue from the most recent Interest Payment Date to which interest has been  paid or provided for or, if no interest has been paid, from March 13, 2020; provided that if there  is no existing default (as defined in the Indenture) in the payment of interest, and if this Security  is authenticated between a record date referred to on the face hereof (each, a “Record Date”) and  the next succeeding Interest Payment Date, interest shall accrue from such next succeeding  Interest Payment Date; provided, further, that the first Interest Payment Date shall be on June 10,  2020. The Company shall pay interest on overdue principal and premium (if any) from time to  time at a rate equal to the interest rate then in effect and shall pay interest on overdue  installments of interest (without regard to any applicable grace periods) from time to time at the  same rate to the extent lawful.  The amount of interest for each day that this Security is  outstanding (the “Daily Interest Amount”) shall be calculated by dividing the interest rate in  effect for such day by 360 and multiplying the result by the principal amount of this Security  outstanding on such day. The amount of interest to be paid on this Security for each Interest  Period shall be calculated by adding such Daily Interest Amounts for each day in such Interest  Period.           Notwithstanding the foregoing, if the Company or its Designee (defined below)  determines on or prior to the relevant LIBOR Determination Date that a Benchmark Transition  Event and its related Benchmark Replacement Date (each, as defined below) have occurred with  respect to LIBOR, then the provisions set forth below under “Effect of Benchmark Transition  Event,” which are referred to as the “Benchmark Transition Provisions,” will thereafter apply to  all determinations of the rate of interest payable on this Security. In accordance with the  Benchmark Transition Provisions, after a Benchmark Transition Event and its related Benchmark  Replacement Date have occurred, the amount of interest that will be payable for each Interest  Period will be an annual rate equal to the sum of the Benchmark Replacement (as defined below)  plus 75 basis points.                                         2 

 

                                                                                       If any Interest Payment Date, other than the maturity date of this Security, falls on a day  that is not a Business Day, the Interest Payment Date will be postponed to the next succeeding  Business Day. If the maturity date of this Security falls on a day that is not a Business Day, the  payment of interest and principal shall be made on the next succeeding Business Day, and no  interest on such payment shall accrue for the period from and after the maturity date. If any such  Interest Payment Date (other than the maturity date) is postponed as described above, the amount  of interest for the relevant Interest Period shall be adjusted accordingly.         All percentages resulting from any of the above calculations will be rounded, if  necessary, to the nearest one hundred thousandth of a percentage point, with five one-millionths  of a percentage point being rounded upwards (e.g., 9.876545% (or .09876545) being rounded to  9.87655% (or .0987655)) and all dollar amounts used in or resulting from such calculations will  be rounded to the nearest cent (with one-half cent being rounded upwards).         Notwithstanding the foregoing, the interest rate of this Security will in no event be (a)  higher than the maximum rate permitted by New York law as the same may be modified by  United States law of general application or (b) lower than 0.00000%.         Set forth below is a summary of certain of the defined terms used for purposes of  determining the interest rate payable on this Security.         “Business Day” means any day, other than a Saturday or Sunday, that is not a day on  which banking institutions in any of the city of New York, New York, Melbourne, Florida or a  place of payment are authorized or required by law or executive order to close.                  “Interest Period” means the period from, and including, an Interest Payment Date to, but  excluding, the next succeeding Interest Payment Date, except for the initial Interest Period,  which will be the period from, and including, March 13, 2020 to, but excluding, the Interest  Payment Date occurring on June 10 , 2020.                “LIBOR” means, with respect to an Interest Period, the rate (expressed as a percentage  per annum) for deposits in U.S. dollars for a three-month period beginning on the second London  Banking Day after the applicable LIBOR Determination Date that appears on Reuters Page  LIBOR01 (or the Bloomberg equivalent) as of 11:00 a.m., London time, on such LIBOR  Determination Date. If Reuters Page LIBOR01 (or the Bloomberg equivalent) does not include  such a rate or is unavailable on a LIBOR Determination Date, the Company will request the  principal London office of each of four major banks in the London interbank market, as selected  by the Company, to provide such bank’s offered quotation (expressed as a percentage per  annum), as of approximately 11:00 a.m., London time, on such LIBOR Determination Date, to  prime banks in the London interbank market for deposits in a Representative Amount of U.S.  dollars for a three-month period beginning on the second London Banking Day after such  LIBOR Determination Date. If at least two such offered quotations are so provided, the LIBOR  rate for the Interest Period will be the arithmetic mean of such quotations. If fewer than two such  quotations are so provided, the Company will request each of three major banks in New York  City, as selected by the Company, to provide such bank’s rate (expressed as a percentage per  annum), as of approximately 11:00 a.m., New York City time, on such LIBOR Determination  Date, for loans in a Representative Amount in U.S. dollars to leading European banks for a three-                                        3   

 

                                                                                 month period beginning on the second London Banking Day after such LIBOR Determination  Date. If at least two such rates are so provided, the LIBOR rate for the Interest Period will be the  arithmetic mean of such rates. If fewer than two such rates are so provided, then the LIBOR rate  for the Interest Period will be the rate in effect with respect to the immediately preceding Interest  Period.                 “LIBOR Determination Date” means, with respect to an Interest Period, the London  Banking Day that is two London Banking Days prior to the first day of such Interest Period.                “London Banking Day” is any day on which dealings in U.S. dollars are transacted or,  with respect to any future date, are expected to be transacted in the London interbank market.                “Representative Amount” means a principal amount of not less than $1,000,000 for a  single transaction in the relevant market at the relevant time.                 “Reuters Page LIBOR01” means the display so designated on Reuters (or the Bloomberg  equivalent or such other page as may replace the LIBOR01 page on that service, or such other  service as may be nominated by the ICE Benchmark Administration Limited, or ICE, or its  successor, or such other entity assuming the responsibility of ICE or its successor in the event  ICE or its successor no longer does so, as the successor service, for the purpose of displaying  London interbank offered rates for U.S. dollar deposits).                If the principal amount of this Security, plus accrued and unpaid interest, or any portion  thereof, is not paid when due (whether upon acceleration pursuant to Section 7.01 of the  Indenture or at maturity of this Security), then, in each such case, the overdue amount shall, to  the extent permitted by law, bear interest at the rate borne by this Security, reset quarterly in  accordance with the terms of this Security, compounded quarterly, which interest shall accrue  from the date such overdue amount was originally due to the date of payment of such amount,  including interest thereon, has been made or duly provided for.  All such interest shall be payable  on demand and shall be computed on the basis of a 360-day year comprised of twelve 30-day  months.         Interest will be paid:  (i) so long as this Security is in the form of a Global Security, to the  Depositary in immediately available funds; or (ii) if this Security is in the form of a definitive  Security, then (a) on the definitive Securities having an aggregate principal amount of  $10,000,000 or less, by check mailed to the Holders of such Securities, and (b) on the definitive  Securities having an aggregate principal amount of more than $10,000,000, by wire transfer in  immediately available funds at the written election of the Holders of these Securities; provided  that the paying agent shall have received appropriate wire transfer instructions at least ten  calendar days prior to the applicable Interest Payment Date.            Effect of Benchmark Transition Event         If the Company (or its designee, which may be an independent financial advisor, or such  other designee of the Company (any of such entities, a “Designee”)) determines that a  Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to  the Reference Time in respect of any determination of the Benchmark on any date, the                                         4   

 

                                                                                 Benchmark Replacement will replace the then-current Benchmark for all purposes relating to this  Security in respect of such determination on such date and all determinations on all subsequent  dates. For the avoidance of doubt, in no event shall the calculation agent, trustee, paying agent or  security registrar be the Designee.          In no event shall the calculation agent be responsible for determining any substitute for  LIBOR, or for making any adjustments to any alternative benchmark or spread thereon, the  business day convention, interest determination dates or any other relevant methodology for  calculating any such substitute or successor benchmark. In connection with the foregoing, the  calculation agent will be entitled to conclusively rely on any determination made by the  Company (or its Designee) and will have no liability for such actions taken at the direction of the  Company (or its Designee).         In connection with the implementation of a Benchmark Replacement, the Company (or  its Designee) will have the right to make Benchmark Replacement Conforming Changes from  time to time.          Any determination, decision or election that may be made by the Company (or its  Designee) pursuant to this section titled “Effect of Benchmark Transition Event,” including any  determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of  an event, circumstance or date and any decision to take or refrain from taking any action or any  selection, will be conclusive and binding absent manifest error, will be made in the Company’s  (or its Designee’s) sole discretion, and, notwithstanding anything to the contrary in the  documentation relating to this Security, shall become effective without consent from the Holders  of the Securities or any other party. None of the trustee, the calculation agent, the security  registrar or the paying agent will have any liability for any determination made by or on behalf  of the Company (or its Designee) in connection with a Benchmark Transition Event or  Benchmark Replacement.          If the Company has appointed a Designee and such Designee is unable to determine  whether a Benchmark Transition Event has occurred and/or has not selected the Benchmark  Replacement, or if the Company has not appointed a Designee, then, in any such case, the  Company shall make such determination or select the Benchmark Replacement, as the case may  be.          Set forth below is a summary of certain of the defined terms used for purposes of this  section titled “Effect of Benchmark Transition Event.”       “Benchmark” means, initially, LIBOR; provided that if a Benchmark Transition Event and  its related Benchmark Replacement Date have occurred with respect to LIBOR or the then- current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.       “Benchmark Replacement” means the Interpolated Benchmark with respect to the then- current Benchmark, plus the Benchmark Replacement Adjustment for such Benchmark;  provided that if the Company (or its Designee) cannot determine the Interpolated Benchmark as  of the Benchmark Replacement Date, then “Benchmark Replacement” means the first alternative                                         5   

 

                                                                                 set forth in the order below that can be determined by the Company (or its Designee) as of the  Benchmark Replacement Date:               (1)   the sum of: (a) Term SOFR and (b) the Benchmark Replacement        Adjustment;               (2)   the sum of: (a) Compounded SOFR and (b) the Benchmark Replacement        Adjustment;               (3)   the sum of: (a) the alternate rate of interest that has been selected or        recommended by the Relevant Governmental Body as the replacement for the then-       current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark        Replacement Adjustment;               (4)   the sum of: (a) the ISDA Fallback Rate and (b) the Benchmark        Replacement Adjustment;               (5)   the sum of: (a) the alternate rate of interest that has been selected by the        Company (or its Designee) as the replacement for the then-current Benchmark for the        applicable Corresponding Tenor giving due consideration to any industry-accepted rate of        interest as a replacement for the then-current Benchmark for U.S. dollar denominated        floating rate notes at such time and (b) the Benchmark Replacement Adjustment.         “Benchmark Replacement Adjustment” means the first alternative set forth in the order  below that can be determined by the Company (or its Designee) as of the Benchmark  Replacement Date:               (1)   the spread adjustment, or method for calculating or determining such        spread adjustment (which may be a positive or negative value or zero), that has been        selected or recommended by the Relevant Governmental Body for the applicable        Unadjusted Benchmark Replacement;               (2)   if the applicable Unadjusted Benchmark Replacement is equivalent to the        ISDA Fallback Rate, then the ISDA Fallback Adjustment;                (3)   the spread adjustment (which may be a positive or negative value or zero)        that has been selected by the Company (or its Designee) giving due consideration to any        industry-accepted spread adjustment, or method for calculating or determining such        spread adjustment, for the replacement of the then-current Benchmark with the applicable        Unadjusted Benchmark Replacement for U.S. dollar denominated floating rate notes at        such time.         “Benchmark Replacement Conforming Changes” means, with respect to any Benchmark  Replacement, any technical, administrative or operational changes (including changes to the  definition of “Interest Period,” timing and frequency of determining rates and making payments  of interest, rounding of amounts or tenors, and other administrative matters) that the Company  (or its Designee) decides may be appropriate to reflect the adoption of such Benchmark                                         6   

 

                                                                                 Replacement in a manner substantially consistent with market practice (or, if the Company (or its  Designee) decides that adoption of any portion of such market practice is not administratively  feasible or the Company (or its Designee) determines that no market practice for use of the  Benchmark Replacement exists, in such other manner as the Company (or its Designee)  determines is reasonably necessary).         “Benchmark Replacement Date” means the earliest to occur of the following events with  respect to the then-current Benchmark:               (1)   in the case of clause (1) or (2) of the definition of “Benchmark Transition        Event,” the later of (a) the date of the public statement or publication of information        referenced therein and (b) the date on which the administrator of the Benchmark        permanently or indefinitely ceases to provide the Benchmark; or               (2)   in the case of clause (3) of the definition of “Benchmark Transition        Event,” the date of the public statement or publication of information referenced therein.   For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs  on the same day as, but earlier than, the Reference Time in respect of any determination, the  Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for  such determination.         “Benchmark Transition Event” means the occurrence of one or more of the following  events with respect to the then-current Benchmark:               (1)   a public statement or publication of information by or on behalf of the        administrator of the Benchmark announcing that such administrator has ceased or will        cease to provide the Benchmark, permanently or indefinitely, provided that, at the time of        such statement or publication, there is no successor administrator that will continue to        provide the Benchmark;               (2)   a public statement or publication of information by the regulatory        supervisor for the administrator of the Benchmark, the central bank for the currency of        the Benchmark, an insolvency official with jurisdiction over the administrator for the        Benchmark, a resolution authority with jurisdiction over the administrator for the        Benchmark or a court or an entity with similar insolvency or resolution authority over the        administrator for the Benchmark, which states that the administrator of the Benchmark        has ceased or will cease to provide the Benchmark permanently or indefinitely, provided        that, at the time of such statement or publication, there is no successor administrator that        will continue to provide the Benchmark; or               (3)   a public statement or publication of information by the regulatory        supervisor for the administrator of the Benchmark announcing that the Benchmark is no        longer representative.                                          7   

 

                                                                                       “Compounded SOFR” means the compounded average of SOFRs for the applicable  Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate  being established by the Company (or its Designee) in accordance with:               (1)   the rate, or methodology for this rate, and conventions for this rate        selected or recommended by the Relevant Governmental Body for determining        compounded SOFR; provided that:               (2)   if, and to the extent that, the Company (or its Designee) determines that        Compounded SOFR cannot be determined in accordance with clause (1) above, then the        rate, or methodology for this rate, and conventions for this rate that have been selected by        the Company (or its Designee) giving due consideration to any industry-accepted market        practice for U.S. dollar denominated floating rate notes at such time.   For the avoidance of doubt, the calculation of Compounded SOFR shall exclude the Benchmark  Replacement Adjustment plus 75 basis points.         “Corresponding Tenor” with respect to a Benchmark Replacement means a tenor  (including overnight) having approximately the same length (disregarding business day  adjustment) as the applicable tenor for the then-current Benchmark.         “Federal Reserve Bank of New York’s Website” means the website of the Federal Reserve  Bank of New York at http://www.newyorkfed.org, or any successor source.         “Interpolated Benchmark” with respect to the Benchmark means the rate determined for  the Corresponding Tenor by interpolating on a linear basis between: (1) the Benchmark for the  longest period (for which the Benchmark is available) that is shorter than the Corresponding  Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that  is longer than the Corresponding Tenor.         “ISDA Definitions” means the 2006 ISDA Definitions published by the International  Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented  from time to time, or any successor definitional booklet for interest rate derivatives published  from time to time.         “ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or  negative value or zero) that would apply for derivatives transactions referencing the ISDA  Definitions to be determined upon the occurrence of an index cessation event with respect to the  Benchmark for the applicable tenor.         “ISDA Fallback Rate” means the rate that would apply for derivatives transactions  referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date  with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback  Adjustment.                                          8   

 

                                                                                       “Reference Time” with respect to any determination of the Benchmark means (1) if the  Benchmark is LIBOR, 11:00 A.M. (London time) on the day that is two London Banking Days  preceding the date of such determination, and (2) if the Benchmark is not LIBOR, the time  determined by the Company (or its Designee) in accordance with the Benchmark Replacement  Conforming Changes.         “Relevant Governmental Body” means the Federal Reserve Board and/or the Federal  Reserve Bank of New York, or a committee officially endorsed or convened by the Federal  Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.         “SOFR” with respect to any day means the secured overnight financing rate published for  such day by the Federal Reserve Bank of New York, as the administrator of the benchmark (or a  successor administrator), on the Federal Reserve Bank of New York’s Website.         “Term SOFR” means the forward-looking term rate for the applicable Corresponding  Tenor based on SOFR that has been selected or recommended by the Relevant Governmental  Body.         “Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the  Benchmark Replacement Adjustment.   2.    Method of Payment.         The Company shall pay interest on this Security (except defaulted interest) to the persons  who are registered Holders of the Securities (as defined below) at the close of business on the  Record Date next preceding the Interest Payment Date, even if such Securities are cancelled after  such Record Date and on or before such Interest Payment Date; provided, however, interest  payable at maturity will be paid to the person to whom the principal is payable.  The Holder must  surrender this Security to a paying agent to collect principal payments.  Subject to the terms and  conditions of the Indenture, the Company will make payments in cash and at maturity to Holders  who surrender Securities of this series to the paying agent to collect such payments in respect of  such Securities.  The Company will pay cash amounts in money of the United States that at the  time of payment is legal tender for payment of public and private debts.  However, the Company  may make such cash payments by wire transfer of immediately available funds or check payable  in such money.   3.    Paying Agent, Calculation Agent and Security Registrar.         Initially, the Trustee (as defined in Section 4 below) will act as paying agent, calculation  agent and Security Registrar.  The Company may appoint and change any paying agent,  calculation agent or Security Registrar without notice, other than notice to the Trustee; provided,  however, that the Company will maintain at least one paying agent in the State of New York,  City of New York, Borough of Manhattan, which shall initially be an office or agency of the  Trustee.  The Company or any of its Subsidiaries or any of their affiliates may act as paying  agent, calculation agent or Security Registrar.                                          9   

 

                                                                                       The Bank of New York Mellon Trust Company, N.A. initially will act as the calculation  agent (the “Calculation Agent”) in respect of the notes. The calculation agent will, upon the  written request of any Holder of Securities, provide the interest rate then in effect with respect to  the Securities. In the absence of manifest error, all calculations made by the calculation agent  will be conclusive for all purposes and binding on us and the Holders of the Securities.   4.    Series.         This Security is one of a duly authorized issue of Floating Rate Notes due March 2023  (the “Securities”) of the Company, issued or to be issued in one or more series under an  indenture dated as of September 3, 2003 (the “Indenture”), between the Company and The Bank  of New York Mellon Trust Company, N.A., as successor to The Bank of New York, as trustee  (the “Trustee,” which term includes any successor Trustee under the Indenture).  All terms used  in this Security which are defined in the Indenture shall have the meanings assigned to them in  the Indenture.  Pursuant to Section 2.03 of the Indenture, this series of Securities is issued under  an officers’ certificate of the Company, dated March 13, 2020 (the “Officers’ Certificate”), to  establish the terms of the Securities, setting forth such terms, to which Indenture and Officers’  Certificate reference is hereby made for a statement of the respective rights, limitations of rights,  duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities  and of the terms upon which the Securities are, and are to be, authenticated and delivered.  This  Security is one of the series designated on the face hereof.           The initial Securities of this series issued on March 13, 2020 (and any Securities of such  series issued in exchange therefor) and any additional Securities of such series issued upon a  further reopening of the Securities in accordance with the Indenture (and any Securities of such  series issued in exchange therefor) will be treated as a single class for all purposes under the  Indenture.         The Securities are unlimited in aggregate principal amount.     5.    No Optional Redemption; No Sinking Fund.  The Securities will not be redeemable at the  option of the Company prior to maturity. No sinking fund is provided for the Securities.   6.    Change of Control.         If a Change of Control Repurchase Event (as defined below) occurs, the Company will  make an offer to each Holder of Securities to repurchase all or any part (in a principal amount of  $2,000 or an integral multiple of $1,000 above that amount) of that Holder’s Securities at a  repurchase price in cash equal to 101% of the aggregate principal amount of Securities being  repurchased plus any accrued and unpaid interest on the Securities being repurchased to, but not  including, the date of repurchase. Within 30 days following any Change of Control Repurchase  Event or, at the Company’s option, prior to any Change of Control (as defined below), but after  the public announcement of an impending Change of Control, the Company will deliver a notice  to each Holder of Securities, with a copy to the Trustee, describing the transaction or transactions  that constitute or may constitute the Change of Control Repurchase Event and offering to  repurchase Securities on the payment date specified in the notice, which date will be no earlier  than 30 days and no later than 60 days from the date such notice is delivered. The notice shall, if                                         10   

 

                                                                                 delivered prior to the date of consummation of the Change of Control, state that the offer to  repurchase is conditioned on the Change of Control Repurchase Event occurring on or prior to  the payment date specified in the notice.          The Company will comply with the requirements of Rule 14e-1 under the Securities  Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and  regulations thereunder, to the extent those laws and regulations are applicable in connection with  the repurchase of the Securities as a result of a Change of Control Repurchase Event. To the  extent that the provisions of any securities laws or regulations conflict with the Change of  Control Repurchase Event provisions of the Securities, the Company will comply with the  applicable securities laws and regulations and will not be deemed to have breached its  obligations under the Change of Control Repurchase Event provisions of the Securities by virtue  of such conflict.          On the Change of Control Repurchase Event payment date, the Company will, to the  extent lawful:          (1)   accept for payment all Securities or portions of Securities (in a principal amount of  $2,000 or an integral multiple of $1,000 above that amount) properly tendered pursuant to the  Company’s offer;          (2)   deposit with the paying agent an amount equal to the aggregate purchase price in  respect of all Securities or portions of Securities properly tendered; and          (3)   deliver or cause to be delivered to the Trustee the Securities properly accepted,  together with an Officers’ Certificate stating the aggregate principal amount of Securities being  repurchased by the Company.         The paying agent will promptly deliver or arrange for delivery to each Holder of  Securities properly tendered the repurchase price for such Holder’s Securities being repurchased,  and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to  each Holder a new Security equal in principal amount to any unpurchased portion of any  Securities surrendered; provided, that each new Security will be in a principal amount of $2,000  or an integral multiple of $1,000 above that amount.          The Company will not be required to make an offer to repurchase the Securities upon a  Change of Control Repurchase Event if a third party makes such an offer in the manner, at the  times and otherwise in compliance with the requirements for an offer made by the Company and  such third party purchases all Securities properly tendered and not withdrawn under its offer.  Notwithstanding anything to the contrary herein, an offer to repurchase the Securities upon a  Change of Control Repurchase Event may be made in advance of such Change of Control  Repurchase Event, conditional upon such Change of Control, if a definitive agreement is in place  for the Change of Control at the time of making the offer.         “Below Investment Grade Rating Event” means the rating for the Securities is lowered to  below Investment Grade by both Rating Agencies on any date from the date of the public notice  of an arrangement that could result in a Change of Control until the end of the 60-day period  following public notice of the occurrence of a Change of Control (which period shall be                                        11   

 

                                                                                 extended so long as the rating of the Securities is under publicly announced consideration for  possible downgrade by either of the Rating Agencies as a result of such Change of Control);  provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular  reduction in rating shall not be deemed to have occurred in respect of a particular Change of  Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of  the definition of Change of Control Repurchase Event hereunder) if any of the Rating Agencies  making the reduction in rating to which this definition would otherwise apply does not announce  or publicly confirm or inform the Trustee in writing at the Company’s request that the reduction  was the result, in whole or in part, of any event or circumstance comprised of or arising as a  result of, or in respect of, the applicable Change of Control (whether or not the applicable  Change of Control shall have occurred at the time of the Below Investment Grade Rating Event).          “Change of Control” means the occurrence of any of the following:          (1)   the direct or indirect sale, transfer, conveyance or other disposition (other than by  way of merger or consolidation), in one or a series of related transactions, of all or substantially  all of the Company’s properties or assets and those of the Company’s Subsidiaries taken as a  whole to any “person” or “group” (as that term is used in Section 13(d)(3) of the Exchange Act),  other than the Company or one of its Subsidiaries;          (2)   the adoption by the holders of the Company’s Voting Stock of a plan relating to  the Company’s liquidation or dissolution;          (3)   the first day during any period of 24 consecutive months on which a majority of  the members of the Company’s Board of Directors are not Continuing Directors; or          (4)   the consummation of any transaction or series of related transactions (including,  without limitation, any merger or consolidation) the result of which is that any “person” or  “group” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Company  or one of its wholly-owned Subsidiaries, becomes the beneficial owner, directly or indirectly, of  more than 50% of the then outstanding number of shares of the Company’s Voting Stock,  measured by voting power rather than number of shares; provided that a merger shall not  constitute a “change of control” under this definition if:  (i) the sole purpose of the merger is the  Company’s reincorporation in another state, and (ii) the Company’s shareholders and the number  of shares of the Company’s Voting Stock, measured by voting power and number of shares,  owned by each of them immediately before and immediately following such merger are  identical.         “Change of Control Repurchase Event” means the occurrence of both a Change of  Control and a Below Investment Grade Rating Event.          “Continuing Director” means, as of any date of determination, any member of the  Company’s Board of Directors:  (i) who was a member of such Board of Directors on the date of  the issuance of the Securities; (ii) who was nominated for election or elected to such Board of  Directors with the approval of the individuals referred to in clause (i) above constituting at the  time of such nomination or election at least a majority of the Board of Directors (either by a  specific vote or by approval of the Company’s proxy statement in which such member was                                         12   

 

                                                                                 named as a nominee recommended by the Continuing Directors for election as a director); or (iii)  whose nomination or election was approved by individuals referred to in clauses (i) and (ii)  above constituting at the time of such nomination or election at least a majority of the Board of  Directors.          “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under  any successor rating categories of Moody’s) and a rating of BBB- or better by S&P (or its  equivalent under any successor rating categories of S&P) or the equivalent investment grade  credit rating from any additional Rating Agency or Rating Agencies selected by the Company.          “Moody’s” means Moody’s Investors Service, Inc., and its successors.         “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or  S&P ceases to rate the Securities or fails to make a rating of the Securities publicly available for  reasons outside of the Company’s control, a “nationally recognized statistical rating  organization” as defined in Section 3(a)(62) of the Exchange Act selected by the Company as a  replacement agency for Moody’s or S&P, as the case may be.          “S&P” means S&P Global Ratings, a division of S&P Global Inc., and its successors.          “Voting Stock” means, with respect to any person, capital stock of any class or kind the  holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election  of directors (or persons performing similar functions) of such person, even if the right so to vote  has been suspended by the happening of such a contingency.   7.    Denominations; Transfer; Exchange.         The Securities are in fully registered form, without coupons, in minimum denominations  of $2,000 of principal amount and integral multiples of $1,000 above that amount.  A Holder  may transfer or exchange the Securities in accordance with the Indenture.  The Security Registrar  may require a Holder, among other things, to furnish appropriate endorsements and transfer  documents and to pay any taxes and fees required by law or permitted by the Indenture.     8.    Persons Deemed Owners.         The registered Holder of this Security may be treated as the owner of this Security for all  purposes subject to the Record Date provisions hereof.    9.    Unclaimed Money or Securities.         The Trustee and the paying agent shall return to the Company any money held by them  for the payment of any amount with respect to the Securities that remains unclaimed for two  years, subject to applicable unclaimed property law.  After return to the Company, Holders  entitled to the money or securities must look to the Company for payment as general creditors  unless an applicable abandoned property law designates another person.                                          13   

 

                                                                                 10.   Amendment; Waiver.         The Indenture permits, with certain exceptions as therein provided, the amendment  thereof and the modification of the rights and obligations of the Company and the rights of the  Holders of the Securities to be affected under the Indenture at any time by the Company and the  Trustee with the consent of the Holders of not less than a majority in aggregate principal amount  of the outstanding Securities to be affected.  The Indenture also contains provisions permitting  the Holders of specified percentages in aggregate principal amount of the Securities of any series  at the time outstanding, on behalf of the Holders of all the Securities of such series, to waive  compliance by the Company with certain provisions of the Indenture and certain past defaults  under the Indenture and their consequences.  Any such consent or waiver by the Holder of this  Security shall be conclusive and binding upon such Holder and upon all future Holders of this  Security and of any Security issued upon the registration or transfer hereof or in exchange  herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this  Security.   11.   Obligations Absolute.         No reference herein to the Indenture and no provision of this Security or of the Indenture  shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay  the principal of and any premium and interest on this Security at the place, at the respective  times, at the rate and in the coin or currency herein prescribed.   12.   Trustee Dealings with the Company.         Subject to certain limitations imposed by the Trust Indenture Act of 1939, the Trustee  under the Indenture, in its individual or any other capacity, may become the owner or pledgee of  Securities and may otherwise deal with the Company or its affiliates with the same rights it  would have if it were not Trustee.   13.   Book-Entry Provisions for Global Securities.           This Security is in the form of a Global Security as provided in the Indenture.  The  Global Security for this series initially shall:  (i) be registered in the name of the Depositary, who  shall be The Depository Trust Company or as otherwise identified in or pursuant to the Officers’  Certificate authorizing the issuance of this series of Securities or the nominee of such  Depositary, (ii) be delivered to the Trustee as custodian for such Depositary and (iii) bear any  required legends.         Members of, or participants in, the Depositary (“Agent Members”) shall have no rights  under the Indenture with respect to this Global Security held on their behalf by the Depositary, or  the Trustee as its custodian, or under this Global Security, and the Depositary may be treated by  the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of  this Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein  shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving  effect to any written certification, proxy or other authorization furnished by the Depositary or  impair, as between the Depositary and its Agent Members, the operation of customary practices  governing the exercise of the rights of a Holder of this Security.                                        14   

 

                                                                                       Transfers of this Global Security shall be limited to transfers in whole, but not in part, to  the Depositary, its successors or their respective nominees. Interests of beneficial owners in this  Global Security may be transferred or exchanged for definitive Securities in accordance with the  rules and procedures of the Depositary. Definitive Securities shall be transferred to all beneficial  owners in exchange for their beneficial interests in this Global Security only if:  (i) the  Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this  Global Security, or the Depositary has ceased to be a “clearing agency” registered under the  Exchange Act, and a successor depositary is not appointed by the Company within 90 days of  such notice, (ii) the Company in its sole discretion and subject to the Depositary’s procedures  elects not to have the Securities represented by a Global Security and to cause the issuance of  definitive Securities or (iii) an Event of Default has occurred and is continuing.         In connection with any transfer or exchange of a portion of the beneficial interest in this  Global Security to beneficial owners pursuant to the immediately preceding paragraph, the  Security Registrar shall (if one or more definitive Securities are to be issued) reflect on the  Security Register the date and a decrease in the principal amount of this Global Security in an  amount equal to the principal amount of the beneficial interest in this Global Security to be  transferred, and the Company shall execute, and the Trustee shall authenticate and deliver, one or  more definitive Securities of like tenor and amount.  In connection with the transfer of this entire  Global Security to beneficial owners pursuant to the immediately preceding paragraph, this  Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the  Company shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner  identified by the Depositary in exchange for its beneficial interest in this Global Security, an  equal aggregate principal amount of definitive Securities of authorized denominations.         The Holder of this Global Security may grant proxies and otherwise authorize any  person, including Agent Members and persons that may hold interests through Agent Members,  to take any action which a Holder is entitled to take under the Indenture or the Securities.   14.   Restrictive Covenants.         The Indenture imposes certain limitations on the ability of the Company to consolidate or  merge with or into any other person, or sell or transfer all or substantially all of its property and  assets to any other person, and on the ability of the Company and its Restricted Subsidiaries to:   (i) create, incur, assume or suffer to exist specified liens; and (ii) enter into sale and leaseback  transactions.  On or before the first day of October in each year, the Company must report to the  Trustee on compliance with such limitations.   15.   No Recourse Against Others.         A director, officer, employee, or stockholder, as such, of the Company or the Trustee  shall not have any liability for any obligations of the Company under the Securities or the  Indenture or for any claim based on, in respect of or by reason of such obligations or their  creation.  By accepting a Security, each Holder waives and releases all such liability.  The waiver  and release are part of the consideration for the issue of the Securities.                                           15   

 

                                                                                 16.   Authentication.         This Security shall not be valid until an authorized signatory of the Trustee manually  signs the Trustee’s Certificate of Authentication on the other side of this Security.     17.   Abbreviations.         Customary abbreviations may be used in the name of a Holder or an assignee, such as  TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants  with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A  (=Uniform Gifts to Minors Act).   18.   Defeasance.         The Indenture contains provisions for defeasance at any time of:  (i) the entire  indebtedness of the Company on this Security, and (ii) certain restrictive covenants and the  related Events of Default, upon compliance by the Company with certain conditions set forth  therein, which provisions apply to this Security.  These provisions shall not apply to Section 6  above after a Change of Control Repurchase Event occurs.   19.   GOVERNING LAW.         THE INDENTURE AND THIS SECURITY WILL BE GOVERNED BY, AND  CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK  WITHOUT REGARD AS TO CONFLICT OF LAW PRINCIPLES.                                    *        *        *         The Company will furnish to any Holder upon written request and without charge a copy  of the Indenture.  Requests may be made to:          L3Harris Technologies, Inc.        1025 West NASA Boulevard        Melbourne, FL 32919        Attn: Treasurer                                                   16   

 

                                                                                                                  ASSIGNMENT FORM               To assign this Security, fill in the form below:                             (I) or (we) assign and transfer this Security to   ---------------------------------------------------------------------------------------------------------------------                     (Insert assignee’s social security or tax I.D. no.)   ---------------------------------------------------------------------------------------------------------------------   ---------------------------------------------------------------------------------------------------------------------                   (Print or type assignee’s name, address and zip code)   and irrevocably appoint ____________________________________ agent to transfer this  Security on the books of the Company.  The agent may substitute another to act for him.               Your Signature: ________________________________________________                           (Sign exactly as your name appears on the other side of this                           Security)               Date: __________________________               Medallion Signature Guarantee: _________________________________                       SCHEDULE OF INCREASES OR DECREASES    The following increases or decreases in the principal amount of this Security have been made:                                                                              Amount of decrease               Principal amount of               in principal  Amount of increase this Security    Signature of                amount       in principal amount following such authorized signatory     Date     of this Security    of this Security    decrease or increase   of TrusteeExhibit

Exhibit 10.6
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

This AMENDMENT No. 1 (this “Amendment”), dated as of March 10, 2020 and  effective as of January 1, 2020 (the “Effective Date”), by and between Systemax Inc. (“Systemax” or the “Company) and ERIC LERNER (the “Employee”), to the Employment Agreement, dated as of April 12, 2012, by and between the Company and Employee (the “Agreement”). Capitalized terms used but not defined herein shall have the meanings provided in the Agreement.
RECITALS

WHEREAS, the Company and the Employee desire to amend the Agreement as set forth herein.

NOW, THEREFORE, it is mutually agreed as follows:
1.Amendment to Section 2(b).  Effective as of the Effective Date of this Amendment, Section 2(b) of the Agreement shall be amended and restated as follows:

“(b) Annual Cash Bonus. You shall be eligible to earn a target cash bonus of 50% of your base salary during each year of the Employment Period based on meeting the performance objectives established for you by the Company (the “Bonus”). In calculating your total Bonus to be paid in respect of any year (or portion thereof) for which you are employed, 50% of the Bonus will be based on individual performance objectives for the Legal Department’s accomplishments and 50% of the Bonus will be based on the performance objectives for the Company under its NEO Cash Bonus Plan for the applicable year; provided that the allocation between individual performance objectives and Company performance objectives may be amended from time to time to match the changes generally made to the allocations for other members of the Company’s senior management having the title of Senior Vice President. For illustrative purposes, in calculating your total Bonus to be paid in respect of 2019, 80% of the Bonus was based on individual performance objectives for the Legal Department’s accomplishments and 20% of the Bonus was based on the shared Company objectives, consistent with the allocation used for other Senior Vice Presidents in 2019.  Depending upon achievement of these performance objectives in any year, Bonuses may be paid in amounts greater or lesser than the target cash Bonus amount. The Bonus, if earned, shall be paid by the Company to you within 75 days following the end of each year during the Employment Period in accordance with the Company’s annual bonus practices for its senior executives. Your annual target cash Bonus will be reviewed annually by the Company and may be increased (but not decreased) in the discretion of the Company. The Bonus for the portion of the first year of the Employment Period for which you are employed shall be prorated for the portion of the year in which you were employed.”

2.     Miscellaneous.  
(a)      In all other respects, the Agreement as previously in effect is ratified and confirmed, and the Agreement, as amended herein, continues in full force and effect.
(b)     The validity, interpretation, construction and performance of this Amendment shall be governed by the laws of the State of New York, without regard to the conflicts of law rules thereof.  

IN WITNESS WHEREOF, the parties have executed this Amendment on the date and year first written above.
	
			
	 
	SYSTEMAX INC.

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	By: 
	/s/ Barry Litwin

	 
	 
	Name: Barry Litwin

	 
	 
	Title: Chief Executive Officer

	 
	 
	 

	 
	 
	/s/ Eric Lerner

	 
	 
	ERIC LERNER

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