Document:

Exhibit

 
Jetblue Airways Corporation 2020 Crewmember Stock Purchase Plan
 
I. Purpose of the Plan

 
This 2020 Crewmember Stock Purchase Plan is intended to promote the interests of JetBlue Airways Corporation, a Delaware corporation, by providing eligible crewmembers with the opportunity to acquire a proprietary interest in the Corporation through accumulated Contributions. The Corporation intends for the Plan to have two components: a component that is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code (the “423 Component”) and a component that is not intended to qualify as an “employee stock purchase plan” under Section 423 of the Code (the “Non-423 Component”). The provisions of the 423 Component, accordingly, shall be construed to extend and limit Plan participation in a uniform and nondiscriminatory basis consistent with the requirements of Section 423 of the Code. In addition, this Plan authorizes the grant of a right to purchase shares of Common Stock under the Non-423 Component that does not qualify as an “employee stock purchase plan” under Section 423 of the Code; a right granted under the Non-423 Component shall provide for substantially the same benefits as a right granted under the 423 Component, except that a Non-423 Component purchase right may include features necessary to comply with applicable non-U.S. laws pursuant to rules, procedures or sub-plans adopted by the Plan Administrator. Except as otherwise provided herein or by the Plan Administrator, the Non-423 Component shall operate and be administered in the same manner as the 423 Component. Capitalized terms herein shall have the meanings assigned to such terms in the attached Appendix.
 
II. Administration of the Plan

 
The Plan shall be administered by the Plan Administrator. The Plan Administrator shall have full discretionary authority to interpret and construe any provision of the Plan, to construe, interpret and apply the terms of the Plan, to designate separate Offerings under the Plan, to determine which entities shall be Designated Affiliates for the 423 Component and the Non-423 Component, to determine eligibility, to adjudicate all disputed claims filed under the Plan (including making factual determinations), and to establish procedures that it deems necessary or advisable for the administration of the Plan (including, without limitation, to adopt such procedures, sub-plans and appendices to the enrollment agreement as are necessary or appropriate to permit the participation in the Plan by individuals who are foreign nationals or employed outside the U.S., the terms of which sub-plans and appendices may take precedence over other provisions of this Plan, with the exception of Section III, but unless otherwise superseded by the terms of such sub-plan or appendix, the provisions of this Plan shall govern the operation of such sub-plan or appendix). Unless otherwise determined by the Plan Administrator, the Eligible Crewmembers eligible to participate in each sub-plan shall participate in a separate Offering under the 423 Component, or if the terms would not qualify under the 423 Component, in the Non-423 Component, in either case unless such designation would cause the 423 Component to violate the requirements of Section 423 of the Code. Without limiting the generality of the foregoing, the Plan Administrator is specifically authorized to adopt rules and procedures regarding eligibility to participate, the definition of Cash Earnings, handling of Contributions, making of Contributions to the Plan (including, without limitation, in forms other than payroll deductions), establishment of bank or trust accounts to hold Contributions, payment of interest, conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and the handling of stock certificates that vary with applicable local requirements. The Plan Administrator is also authorized to determine that, to the extent permitted by U.S. Treasury Regulation Section 1.423-2(f), the terms of a purchase right granted under the Plan or an Offering to citizens or residents of a non-U.S. jurisdiction will be less favorable than the terms of purchase rights granted under the Plan or the same Offering to employees resident solely in the United States. Decisions of the Plan Administrator shall be final, binding, and conclusive on all parties having an interest in the Plan. Subject to Applicable Laws, the Plan Administrator may, in its discretion, from time to time, delegate all or any part of its responsibilities and powers under the Plan to any employee or group of employees of the Corporation or any Participating Corporation and revoke any such delegation. Notwithstanding the foregoing, the Board, in its absolute discretion, may at any time and from time to time exercise any and all rights, duties and responsibilities of the Plan Administrator under the Plan, including, but not limited to, establishing procedures to be followed by the Plan Administrator.

III. Stock Subject to Plan

 
		
	A.
	The stock purchasable under the Plan shall be shares of authorized but unissued or reacquired Common Stock, including shares of Common Stock purchased on the open market. The maximum number of shares of Common Stock reserved for issuance over the term of the Plan shall not exceed 17,530,985 shares, which shall be submitted to the stockholders for approval, and approved by the stockholders at the May 2020 annual meeting.

		
	B.
	In the event of any of the following transactions affecting the Common Stock: any stock split, stock dividend, recapitalization, combination of shares, exchange of shares, or other similar change affecting the outstanding Common Stock, or a merger, consolidation, acquisition of property or shares, spin-off, other distribution of stock or property (including any extraordinary cash or stock dividend), or liquidation 

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or other similar event affecting the Corporation or a subsidiary of the Corporation, then equitable adjustments shall be made to (i) the maximum number and class of securities issuable under the Plan, (ii) the maximum number and class of securities purchasable per Participant on any one Purchase Date, (iii) the maximum number and class of securities purchasable in total by all Participants on any one Purchase Date, and (iv) the number and class of securities and the price per share in effect under each outstanding purchase right. The adjustments shall be made in such manner as the Plan Administrator deems appropriate in order to prevent the dilution or enlargement of benefits under the outstanding purchase rights, and such adjustments shall be final, binding and conclusive on the holders of those rights.
 
IV. Offering Periods

 
		
	A.
	Shares of Common Stock shall be offered for purchase under the Plan through a series of concurrent offering periods until such time as (i) the maximum number of shares of Common Stock available for issuance under the Plan shall have been purchased or (ii) the Plan shall have been sooner terminated.

		
	B.
	Each offering period shall be of such duration (not to exceed twenty-four (24) months) as determined by the Plan Administrator prior to the start date of such offering period. Unless otherwise determined by the Plan Administrator, offering periods shall commence at semiannual intervals on the first Trading Day of May and November each year over the term of the Plan, and, accordingly, two (2) separate offering periods shall commence in each calendar year the Plan remains in existence. Unless otherwise determined by the Plan Administrator prior to the start of such offering period, each offering period shall have a maximum duration of six (6) months.

		
	C.
	Each offering period shall consist of a series of one or more successive Purchase Intervals. Unless otherwise determined by the Plan Administrator, Purchase Intervals shall run from the first Trading Day in May to the last Trading Day in October each year and from the first Trading Day in November each year to the last Trading Day in April in the following year. Each offering period will consist of one Purchase Interval, unless the duration of that offering period exceeds six (6) months.

 
V. Eligibility; Enrollment

 
		
	A.
	Each individual who is an Eligible Crewmember on the start date of any offering period under the Plan may enter that offering period on such start date. However, an Eligible Crewmember may participate in only one offering period at a time.

		
	B.
	An Eligible Crewmember must, in order to participate in the Plan for a particular offering period, enroll online in the manner and through the website designated by the Corporation, elect to have Contributions made on each pay day during the offering period (in the form of payroll deductions or otherwise, to the extent permitted by the Plan Administrator), and file with the Plan Administrator (or its designate) any forms prescribed by it, on or before the start date of that offering period.

		
	C.
	With respect to each succeeding offering period, a Participant shall be deemed (i) to have elected to participate in such immediately succeeding offering period and (ii) to have authorized the same form of Contributions for such immediately succeeding offering period as was in effect for the Participant immediately prior to the commencement of such succeeding offering period, unless (1) such Participant elects otherwise prior to the start date of such succeeding offering period, in accordance with Section VI. A, (2) such Participant withdraws from the Plan prior to the commencement of such succeeding offering period in accordance with Section VII. H or (3) on the start date of such succeeding offering period, such Participant is no longer an Eligible Crewmember.

		
	D.
	Eligible Crewmembers who are citizens or residents of a non-U.S. jurisdiction (without regard to whether they also are citizens or residents of the United States or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded from participation in the Plan or an Offering if the participation of such Eligible Crewmember is prohibited under the laws of the applicable jurisdiction or if complying with the laws of the applicable jurisdiction would cause the Plan or an Offering to violate Section 423 of the Code. In the case of the Non-423 Component, an Eligible Crewmember may be excluded from participation in the Plan or an Offering if the Plan Administrator has determined that participation of such Eligible Crewmember is not advisable or practicable.

 
VI. Contributions

 
		
	A.
	The Contributions authorized by the Participant for purposes of acquiring shares of Common Stock during an offering period may be any multiple of one percent (1%) of the Cash Earnings paid to the Participant during each Purchase Interval within that offering period, up to a maximum of ten percent (10%). The rate of Contribution so authorized shall continue in effect throughout the offering period, except to the extent such rate is changed in accordance with the following guidelines:

		
	(i)
	Using the online authorization process designated for this purpose by the Corporation in accordance with Section V.B, the Participant may, at any time during the offering period, reduce his or her rate of Contribution to become effective as soon as 

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administratively practicable after the date of such online authorization. The Participant may not, however, effect more than one (1) such reduction per Purchase Interval.
		
	(ii)
	Using the online authorization process designated for this purpose by the Corporation in accordance with Section V.B, the Participant may, prior to the commencement of any new Purchase Interval within the offering period, increase the rate of his or her Contribution. The new rate (which may not exceed the ten percent (10%) maximum) shall become effective on the start date of the first Purchase Interval following the date of such online authorization.

		
	(iii)
	During a Purchase Interval, a Participant may cease Contributions if she or he elects a 0% deduction, and participate in the purchase on the Purchase Date. Unless the Participant reenrolls as permitted with a 1 – 10% payroll deduction, any Participant with a 0% deduction on a Purchase Date will be administratively withdrawn from the Plan prior to the commencement of the next offering period.

		
	B.
	Contributions from after-tax Cash Earnings shall begin on the first pay day administratively practicable following the start date of the offering period and shall (unless sooner terminated by the Participant) continue through the pay day ending with or immediately prior to the last day of that offering period. The amounts so collected shall be credited to the Participant’s book account under the Plan, but no interest shall be paid on the balance, from time to time, outstanding in such account.

		
	C.
	Notwithstanding any other provisions in the Plan, the Plan Administrator, in its sole discretion, may permit Eligible Crewmembers in a specified Offering to participate in the Plan via cash, check or other means instead of payroll deductions if (i) payroll deductions are not permitted under Applicable Law; (ii) the Plan Administrator determines the cash contributions are permissible for Participants participating in the 423 Component; or (iii) the Participants are participating in the Non-423 Component.

		
	D.
	All Contributions received or held by the Corporation under the Plan may be used for any corporate purpose and commingled with the general assets of the Corporation, and all Contributions collected from the Participants shall not be required to be held in any segregated account or trust fund, except under Offerings in which Applicable Law requires that Contributions by Participants to the Plan be segregated from the Corporation’s general corporate funds or deposited with an independent third party for Participants in non-U.S. jurisdictions.

		
	E.
	Contributions shall automatically cease upon the termination of the Participant’s purchase right in accordance with the provisions of the Plan.

		
	F.
	The Participant’s acquisition of Common Stock under the Plan on any Purchase Date shall neither limit nor require the Participant’s acquisition of Common Stock on any subsequent Purchase Date, whether within the same or a different offering period.

 
VII. Purchase rights

 
		
	A.
	Grant of Purchase Rights. A Participant shall be granted a separate purchase right for each offering period in which he or she is enrolled. On the Grant Date, the Participant shall be granted the right to purchase shares of Common Stock, at the end of each Purchase Interval within that offering period, upon the terms set forth below.

Under no circumstances shall purchase rights be granted under the Plan to any Eligible Crewmember if such individual would, immediately after the grant, own (within the meaning of Section 424(d) of the Code) or hold outstanding options or other rights to purchase stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Corporation or any Corporate Affiliate.
		
	B.
	Exercise of the Purchase Right. Each purchase right shall be automatically exercised on each successive Purchase Date within the offering period, and shares of Common Stock shall accordingly be purchased on behalf of each Participant on each such Purchase Date. The purchase shall be effected by applying the Participant’s payroll deductions for the Purchase Interval ending on such Purchase Date to the purchase of whole shares of Common Stock at the purchase price in effect for the Participant for that Purchase Date.

		
	C.
	Tax Withholding. At the time a Participant’s purchase right is granted or exercised, in whole or in part, or at the time a Participant disposes of some or all of the shares of Common Stock he or she purchases under the Plan, the Participant shall make adequate provision for the federal, state, local and non-United States tax withholding obligations, if any, of the Corporation and/or any other applicable Participating Corporation which arise upon grant or exercise of such purchase right or upon such disposition of shares, respectively. The Corporation and/or applicable Participating Corporation may, but shall not be obligated to, withhold from the Participant’s compensation the amount necessary to meet such withholding obligations.

		
	D.
	Purchase Price. The purchase price per share at which Common Stock will be purchased on the Participant’s behalf on each Purchase Date within a particular offering period in which he or she is enrolled shall be equal to the Applicable Percentage of the Fair Market Value per share of Common Stock. The Applicable Percentage with respect to each Purchase Interval shall be eighty-five percent (85%) unless and until such Applicable Percentage is changed by the Plan Administrator, in its discretion, provided that any such change in the Applicable Percentage with respect to a given Purchase Interval must be established prior to the commencement of the enrollment process for such Purchase Interval.

		
	E.
	Number of Purchasable Shares. The number of shares of Common Stock purchasable by a Participant on each Purchase Date during the particular offering period in which he or she is enrolled shall be the number of whole shares obtained by dividing the amount collected from the Participant through payroll deductions during the Purchase Interval ending with that Purchase Date by the purchase price in effect for the Participant for that Purchase Date. However, the maximum number of shares of Common Stock purchasable per Participant on any one Purchase Date shall not exceed 4,000 shares, subject to periodic adjustments in the event of certain 

3

changes in the Corporation’s capitalization. However, the Plan Administrator shall have the discretionary authority, exercisable prior to the start of any offering period under the Plan, to increase or decrease the limitations to be in effect for the number of shares purchasable per Participant on each Purchase Date which occurs during that offering period.
		
	F.
	Excess Payroll Deductions. Any payroll deductions not applied to the purchase of shares of Common Stock on any Purchase Date because (i) they are not sufficient to purchase a whole share of Common Stock or (ii) they exceed the accrual limitations in Section VIII that precludes a Participant from purchasing additional shares of Common Stock on any Purchase Dates shall be refunded as soon as administratively possible. Additionally, any payroll deductions not applied to the purchase of Common Stock by reason of the limitation on the maximum number of shares purchasable per Participant or in total by all Participants on the Purchase Date or any other reason shall be refunded as soon as administratively possible.

		
	G.
	Withdrawal from Offering Period. The following provisions shall govern the Participant’s withdrawal from an offering period:

		
	(i)
	Using the online authorization process designated for this purpose by the Corporation in accordance with Section V.B, a Participant may withdraw from the offering period in which he or she is enrolled at any time prior to ten (10) days before the next scheduled Purchase Date, and no further payroll deductions shall be collected from the Participant with respect to that offering period. Any payroll deductions collected during the Purchase Interval in which such withdrawal occurs shall be held for the purchase of shares on the next Purchase Date, unless the Participant elects at the time of such withdrawal, in accordance with any policies established by the Plan Administrator, to have such payroll deductions refunded as soon as administratively possible.

		
	(ii)
	The Participant’s withdrawal from a particular offering period shall be irrevocable, and the Participant may not subsequently rejoin that offering period at a later date. In order to resume participation in any subsequent offering period, such individual must re-enroll in the Plan (in accordance with Section V.B) on or before the start date of that offering period.

		
	H.
	Termination of Purchase Right. The following provisions shall govern the termination of outstanding purchase rights:

		
	(i)
	Should the Participant cease to remain an Eligible Crewmember for any reason (including death, disability or change in status) while his or her purchase right remains outstanding, then that purchase right shall immediately terminate, and all of the Participant’s payroll deductions for the Purchase Interval in which the purchase right so terminates shall be immediately refunded.

		
	(ii)
	However, should the Participant cease to remain in active service by reason of an approved unpaid leave of absence, then the Participant shall have the right, exercisable up until 10 days before the next Purchase Date, to withdraw all the payroll deductions collected to date on his or her behalf for that Purchase Interval. Should the Participant not exercise this right, such funds shall be held for the purchase of shares on his or her behalf on the next scheduled Purchase Date. Payroll deductions under the Plan shall continue with respect to any Cash Earnings received by a Participant while he or she is on an unpaid leave of absence, unless the Participant elects to withdraw from the offering period in accordance with Section VII.G above. Upon the Participant’s return to active service (x) within three (3) months following the commencement of such leave or (y) prior to the expiration of any longer period for which such Participant has reemployment rights with the Corporation provided by statute or contract, his or her payroll deductions under the Plan shall automatically resume at the rate in effect at the time the leave began, unless the Participant withdraws from the Plan prior to his or her return. Notwithstanding the foregoing provisions of this Section VII.H(ii), if such period of a Participant’s leave of absence exceeds the applicable time period described in clauses (x) and (y) of the preceding sentence, then the Plan Administrator may at any time prior to the next Purchase Date cause such Participant’s outstanding purchase rights to terminate and all of the Participant’s payroll deductions for the Purchase Interval in which such purchase rights so terminate to be immediately refunded. An individual who returns to active employment following a leave of absence that exceeds the duration of the applicable (x) or (y) time period will be treated as a new Eligible Crewmember for purposes of subsequent participation in the Plan and must accordingly reenroll in the Plan (in accordance with Section V.B) on or before the start date of any subsequent offering period in which he or she wishes to participate.

		
	(iii)
	If a Participant transfers employment from the Corporation or any Designated Affiliate participating in the 423 Component to a Designated Affiliate participating in the Non-423 Component, he or she shall immediately cease to participate in the 423 Component; however, any Contributions made for the offering period in which such transfer occurs shall be transferred to the Non-423 Component, and such Participant shall immediately join the then-current Offering under the Non-423 Component upon the same terms and conditions in effect for his or her participation in the Plan, except for such modifications as may be required by applicable law or otherwise applicable for Participants of such Designated Affiliates. A Participant who transfers employment from a Designated Affiliate participating in the Non-423 Component to the Corporation or any Designated Affiliate participating in the 423 Component shall remain a Participant in the Non-423 Component until the earlier of (1) the end of the current offering period under the Non-423 Component, or (2) the first Trading Day of the first offering period in which he or she participates following such transfer. Notwithstanding the foregoing, the Plan Administrator may establish different rules to govern transfers of employment between Designated Affiliates participating in the 423 Component and the Non-423 Component, consistent with the applicable requirements of Section 423 of the Code.

		
	I.
	Change in Control. Each outstanding purchase right shall automatically be exercised, immediately prior to the effective date of any Change in Control, by applying the payroll deductions of each Participant for the Purchase Interval in which such Change in Control occurs to the purchase of whole shares of Common Stock at a purchase price per share equal to Applicable Percentage of the Fair Market Value per share of Common Stock immediately prior to the effective date of such Change in Control.

However, the applicable limitation on the number of shares of Common Stock purchasable per Participant shall continue to apply to any such purchase.
The Corporation shall use its best efforts to provide at least ten (10) days’ prior written notice of the occurrence of any Change in Control, and Participants shall, following the receipt of such notice, have the right to terminate their outstanding purchase rights prior to the effective date of the Change in Control.

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Notwithstanding the foregoing provisions of this Section VII.I to the contrary, the Plan Administrator may in its discretion determine that any outstanding purchase rights shall be terminated prior to the effective date of a Change in Control, in which case all payroll deductions for the Purchase Interval in which such purchase rights are terminated shall be promptly refunded.
		
	J.
	Proration of Purchase Rights. Should the total number of shares of Common Stock to be purchased pursuant to outstanding purchase rights on any particular date exceed the number of shares then available for issuance under the Plan, the Plan Administrator shall make a pro-rata allocation of the shares available or purchasable on a uniform and nondiscriminatory basis, and the payroll deductions of each Participant, to the extent in excess of the aggregate purchase price payable for the Common Stock pro-rated to such individual, shall be refunded.

		
	K.
	Assignability. The purchase right shall be exercisable only by the Participant and shall not be assignable or transferable by the Participant.

		
	L.
	Stockholder Rights. A Participant shall have no stockholder rights with respect to the shares subject to his or her outstanding purchase right until the shares are purchased on the Participant’s behalf in accordance with the provisions of the Plan and the Participant has become a holder of record of the purchased shares.

 
VIII. Accrual Limitations

 
		
	A.
	No Participant shall be entitled to accrue rights to acquire Common Stock pursuant to any purchase right outstanding under this Plan if and to the extent such accrual, when aggregated with (i) rights to purchase Common Stock accrued under any other purchase right granted under this Plan and (ii) similar rights accrued under other employee stock purchase plans (within the meaning of Section 423 of the Code) of the Corporation or any Corporate Affiliate, would otherwise permit such Participant to purchase more than Twenty-Five Thousand Dollars ($25,000.00) worth of stock of the Corporation or any Corporate Affiliate (determined on the basis of the Fair Market Value per share on the date or dates such rights are granted) for each calendar year such rights are at any time outstanding.

		
	B.
	For purposes of applying such accrual limitations to the purchase rights granted under the Plan, the following provisions shall be in effect:

		
	(i)
	The right to acquire Common Stock under each outstanding purchase right shall accrue in one or more installments on each successive Purchase Date during the offering period in which such right remains outstanding.

		
	(ii)
	No right to acquire Common Stock under any outstanding purchase right shall accrue to the extent the Participant has already accrued, in the same calendar year, the right to acquire Common Stock under one or more other purchase rights at a rate equal to Twenty-Five Thousand Dollars ($25,000.00) worth of Common Stock (determined on the basis of the Fair Market Value per share on an applicable Grant Date) for each calendar year such rights were at any time outstanding.

		
	C.
	If, by reason of such accrual limitations, any purchase right of a Participant does not accrue for a particular Purchase Interval, then the payroll deductions that the Participant made during that Purchase Interval with respect to such purchase right shall be refunded as soon as administratively practicable.

		
	D.
	In the event there is any conflict between the provisions of this Section VIII and one or more provisions of the Plan or any instrument issued thereunder, the provisions of this Section VIII shall be controlling.

 
IX. Effective Time and Term of the Plan

 
		
	A.
	The Plan was adopted by the Board on March [•], 2020, and shall become effective upon the date on which the Plan is approved by the affirmative vote of the holders of a majority of the shares of Common Stock which are present or represented and entitled to vote and voted at the Corporation’s 2020 annual meeting (the “Effective Time”), which approval occurred within the period ending twelve (12) months before or after the date the Plan is adopted by the Board.

		
	B.
	Unless sooner terminated by the Board, the Plan shall terminate upon the earliest of (i) May 30, 2030, (ii) the date on which all shares available for issuance under the Plan shall have been sold pursuant to purchase rights exercised under the Plan, and (iii) the date on which all purchase rights are exercised in connection with a Change in Control. No further purchase rights shall be granted or exercised, and no further payroll deductions shall be collected, under the Plan following such termination.

		
	C.
	From and after the Effective Time, no further grants shall be made under the JetBlue Airways Corporation 2011 Crewmember Stock Purchase Plan, as in effect immediately prior to the Effective Time (the “Prior Plan”); however, any purchase rights outstanding under the Prior Plan before the Effective Time shall continue in effect in accordance with their terms.

 

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X. Amendment and Termination of the Plan

 
		
	A.
	The Board may alter, amend, suspend or terminate the Plan at any time to become effective immediately following the close of any Purchase Interval.

		
	B.
	In no event may the Board effect any of the following amendments or revisions to the Plan without the approval of the Corporation’s stockholders: (i) increase the number of shares of Common Stock issuable under the Plan, except for permissible adjustments in the event of certain changes in the Corporation’s capitalization, (ii) alter the purchase price formula so as to reduce the purchase price payable for the shares of Common Stock purchasable under the Plan, (iii) modify the eligibility requirements for participation in the Plan, or (iv) any other amendment requiring stockholder approval under any applicable law, regulation or rule.

		
	C.
	The Board may at any time terminate an offering period then in progress and provide that Participants’ then outstanding payroll deductions shall be promptly refunded.

 
XI. General Provisions

 
		
	A.
	All costs and expenses incurred in the administration of the Plan shall be paid by the Corporation; however, each Plan Participant shall bear all costs and expenses incurred by such individual in the sale or other disposition of any shares purchased under the Plan.

		
	B.
	Nothing in the Plan shall confer upon the Participant any right to continue in the employ of the Corporation or any Corporate Affiliate for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Corporate Affiliate employing such person) or of the Participant, which rights are hereby expressly reserved by each, to terminate such person’s employment at any time for any reason, with or without cause.

		
	C.
	No payment pursuant to the Plan may be included as “compensation” for purposes of computing the benefits payable to any Participant under the Corporation’s or any Corporate Affiliate’s plans (both qualified and nonqualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing a Participant’s benefit.

		
	D.
	The Plan shall not create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Corporation or any Corporate Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Corporation or any Corporate Affiliate pursuant to the Plan, such right shall be no greater than the right of any unsecured general creditor of the Corporation or any Corporate Affiliate.

		
	E.
	The provisions of the Plan shall be governed by the laws of the State of Delaware without resort to that State’s conflict-of-laws rules.

		
	F.
	The Plan is intended to be exempt from the application of Section 409A and, to the extent not exempt, is intended to comply with Section 409A, and any ambiguities herein will be interpreted to so be exempt from, or comply with, Section 409A. In furtherance of the foregoing and notwithstanding any provision in the Plan to the contrary, if the Plan Administrator determines that a purchase right granted under the Plan may be subject to Section 409A, or that any provision in the Plan would cause a purchase right under the Plan to be subject to Section 409A, the Plan Administrator may amend the terms of the Plan or of an outstanding purchase right granted under the Plan, or take such other action the Plan Administrator determines is necessary or appropriate, in each case, without the Participant’s consent, to exempt any outstanding purchase right or future purchase right that may be granted under the Plan from being subject to Section 409A, or to allow any such purchase right to comply with Section 409A, but only to the extent any such amendment or action by the Plan Administrator would not violate Section 409A. Notwithstanding the foregoing, the Corporation shall have no liability to a Participant or any other party if the right to purchase Common Stock under the Plan that is intended to be exempt from or compliant with Section 409A is not so exempt or compliant or for any action taken by the Plan Administrator with respect thereto. The Corporation makes no representation that the right to purchase Common Stock under the Plan is compliant with Section 409A.

 

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Schedule A
 
Corporations Participating in 2020 Crewmember Stock Purchase Plan
 As of the Effective Time

 
JETBLUE AIRWAYS CORPORATION
 
JETBLUE TECHNOLOGY VENTURES
 
JETBLUE TRAVEL PRODUCTS
 

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Appendix

 
The following definitions shall be in effect under the Plan:
 
		
	A.
	Applicable Laws shall mean the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any non-U.S. country or jurisdiction where purchase rights are, or will be, granted under the Plan.

		
	B.
	Board shall mean the Corporation’s Board of Directors.

		
	C.
	Cash Earnings shall mean (i) the regular base salary paid or wages to a Participant by one or more Participating Corporations during such individual’s period of participation in one or more offering periods under the Plan plus (ii) all overtime payments, bonuses, commissions, or other incentive-type payments received during such period. Such Cash Earnings shall be calculated before deduction of (A) any income or employment tax withholdings, or (B) any contributions made by the Participant to any Section 401(k) of the Code salary deferral plan or any Section 125 of the Code cafeteria benefit program now or hereafter established by the Corporation or any Corporate Affiliate. However, Cash Earnings shall not include any non-cash items, profit sharing, severance or notice pay, income attributable to stock options or other stock-based compensation or contributions made by the Corporation or any Corporate Affiliate on the Participant’s behalf to any crewmember benefit or welfare plan now or hereafter established (other than Section 401(k) or Section 125 of the Code contributions deducted from such Cash Earnings).

		
	D.
	Change in Control shall mean the occurrence of any of the following:

		
	a.
	Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”), other than the Company or a wholly owned Subsidiary thereof, becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of either (A) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this Section 2.6, the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, or (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Affiliate;

		
	b.
	Any time at which individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board;

		
	c.
	Consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Company or any Affiliate, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any Affiliate (each, a “Business Combination”), in each case unless, following such Business Combination, all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be; or

		
	d.
	The consummation of a plan of complete liquidation or dissolution of the Company.

		
	e.
	For avoidance of doubt, Change in Control payments under this plan shall be made only where the definition of Change in Control (in this Section D is met) and when there is a loss of employment or substantial change in job duties as a result of the Change in Control. Notwithstanding the foregoing, unless otherwise provided in the applicable Award Agreement, with respect to Awards subject to Section 409A of the Code, a Change in Control shall mean a “change in the ownership of the Company,” a “change in the effective control of the Company,” or a “change in the ownership of a substantial portion of the assets of the Company” as such terms are defined in Section 1.409A-3(i)(5) of the Treasury Regulations.

		
	E.
	Code shall mean the Internal Revenue Code of 1986, as amended.

		
	F.
	Common Stock shall mean the Corporation’s common stock.

		
	G.
	Contributions shall mean the payroll deductions and other additional payments that the Corporation may permit to be made by a Participant to fund the exercise of purchase rights granted pursuant to the Plan.

8

		
	H.
	Corporate Affiliate shall mean (i) any parent or subsidiary corporation of the Corporation (as determined in accordance with Section 424 of the Code), whether now existing or subsequently established, and, (ii) solely for purposes of the definition of Change in Control, any Person that directly or indirectly controls, is controlled by or is under common control with the Corporation. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting or other securities, by contract or otherwise.

		
	I.
	Corporation shall mean JetBlue Airways Corporation, a Delaware corporation, and any corporate successor to all or substantially all of the assets or voting stock of JetBlue Airways Corporation that shall by appropriate action adopt the Plan.

		
	J.
	Designated Affiliate shall mean any Corporate Affiliate that has been designated by the Plan Administrator from time to time in its sole discretion as eligible to participate in the Plan. For purposes of the 423 Component, only the Corporation and a “subsidiary corporation” (as defined in Section 424(f) of the Code), whether now or hereafter existing, may be Designated Affiliates; provided, however, that at any given time, a “subsidiary corporation” that is a Designated Affiliate under the 423 Component shall not be a Designated Affiliate under the Non-423 Component.

		
	K.
	Effective Time shall have the meaning given such term in Section IX.A. Any Corporate Affiliate that becomes a Participating Corporation after such Effective Time shall designate a subsequent Effective Time with respect to its Eligible Crewmember (except with respect to the definition of Change in Control).

		
	L.
	Eligible Crewmember shall mean any person who is paid remuneration for services rendered as an employee of one or more Participating Corporations.

		
	M.
	Exchange Act shall mean the Securities Exchange Act of 1934, as it may be amended from time to time, including the rules and regulations promulgated thereunder and successor provisions and rules and regulations thereto.

		
	N.
	Fair Market Value per share of Common Stock shall mean: (a) if the Common Stock is listed on a national securities exchange, as of any date, the Fair Market Value shall be the closing price of a share of Common Stock on the Stock Exchange as of the immediately preceding Trading Day, as reported by a source selected by the Plan Administrator and (b) if the Common Stock is not listed on a national securities exchange, the Fair Market Value shall be determined by the Plan Administrator in its exclusive, good faith discretion.

		
	O.
	Grant Date shall mean the start date of an offering period.

		
	P.
	Offering shall mean an offer under the Plan of a purchase right that may be exercised during an offering period as further described in Section IV. Unless otherwise specified by the Plan Administrator, each Offering to the Eligible Crewmembers of the Corporation or a Designated Affiliate shall be deemed a separate Offering (the terms of which Offering under the Non-423 Component need not be identical), even if the dates and other terms of the applicable offering periods of each separate Offering are identical and the provisions of the Plan will separately apply to each Offering. To the extent permitted by U.S. Treasury Regulation Section 1.423-2(a)(1),the terms of each separate Offering need not be identical provided that the terms of the Plan and an Offering together satisfy U.S. Treasury Regulation Section 1.423-2(a)(2) and (a)(3).

		
	Q.
	Participant shall mean any Eligible Crewmember of a Participating Corporation who is actively participating in the Plan.

		
	R.
	Participating Corporation shall mean the Corporation and such Corporate Affiliate or Affiliates as may be authorized from time to time by the Board to extend the benefits of the Plan to their Eligible Crewmembers. The Participating Corporations in the Plan are listed in attached Schedule A.

		
	S.
	Plan shall mean this JetBlue Airways Corporation 2020 Crewmember Stock Purchase Plan, including both the 423 and Non-423 Components, as set forth in this document and as amended from time to time.

		
	T.
	Plan Administrator shall mean the committee of two (2) or more Board members appointed by the Board to administer the Plan.

		
	U.
	Purchase Date shall mean the last Trading Day of each Purchase Interval.

		
	V.
	Purchase Interval shall mean each successive six (6)-month period within a particular offering period at the end of which there shall be purchased shares of Common Stock on behalf of each Participant.

		
	W.
	Section 409A shall mean Section 409A of the Code and the regulations and guidance promulgated thereunder, as amended.

		
	X.
	Stock Exchange shall mean the Nasdaq Stock Exchange or such other securities exchange or inter-dealer quotation system as may at the applicable time be the principal market for the Common Stock.

		
	Y.
	Trading Day shall mean any day on which the Stock Exchange is open for trading or, if the Common Stock is not listed on national securities exchange, a business day, as determined by the Plan Administrator in good faith.

		
	Z.
	U.S. Treasury Regulations shall mean the Treasury Regulations of the Code. Reference to a specific Treasury Regulation or Section of the Code shall include such Treasury Regulation or Section and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

 
Adopted by stockholders on May 14, 2020.
 

9Exhibit 4.1

 

Execution
Version

 

DEPOSIT AGREEMENT

 

among

 

FIRST MIDWEST BANCORP, INC.

as Issuer

 

and

 

COMPUTERSHARE INC. AND COMPUTERSHARE
TRUST COMPANY, N.A.,

jointly,

AS DEPOSITARY

 

and

 

THE HOLDERS FROM TIME TO TIME OF THE
DEPOSITARY RECEIPTS

DESCRIBED HEREIN

 

Dated May 20, 2020 

 

     

     

    

 

DEPOSIT AGREEMENT

 

DEPOSIT AGREEMENT, dated May 20, 2020,
among (i) FIRST MIDWEST BANCORP, INC., a Delaware corporation; (ii) COMPUTERSHARE, INC., a Delaware corporation,
and its wholly-owned subsidiary, COMPUTERSHARE TRUST COMPANY, N.A., a federally chartered trust company and (iii) the Record
Holders from time to time of the Receipts described in this Deposit Agreement.

 

WHEREAS, it is desired to provide, as hereinafter
set forth in this Deposit Agreement, for the deposit of shares of the Preferred Stock of the Corporation from time to time with
the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of Receipts evidencing Depositary
Shares in respect of shares of the Preferred Stock so deposited; and

 

WHEREAS, the Receipts are to be substantially
in the form of Exhibit A attached hereto, with appropriate insertions, modifications and omissions, as hereinafter
provided in this Deposit Agreement;

 

NOW, THEREFORE, in consideration of the premises,
the parties hereto agree as follows:

 

ARTICLE I

DEfined terms

 

1.1            Definitions.

 

The following definitions shall for all purposes,
unless otherwise indicated, apply to the respective terms used in this Deposit Agreement:

 

“Affiliate” shall mean,
with respect to any person or entity, any person or entity directly or indirectly controlling, controlled by, or under common control
with, such other person or entity. For the purpose of this definition, “controlling,” “controlled by” or
 “under common control with” mean the ownership, direct or indirect, of the power to direct or cause the direction of
the operation or management and policies of a person or entity, whether through the ownership or control of voting interests, by
contract or otherwise.

 

“Board of Directors” shall
mean the board of directors of the Corporation.

 

“Certificate of Designations”
shall mean the relevant Certificate of Designations filed with the Secretary of State of the State of Delaware establishing the
Preferred Stock as a series of preferred stock of the Corporation.

 

“Computershare” shall mean
Computershare Inc., a Delaware corporation.

 

“Corporation” shall mean
First Midwest Bancorp, Inc., a Delaware corporation.

 

    		-1-	 

     

    

 

“Deposit Agreement” shall
mean this Deposit Agreement, as amended or supplemented from time to time in accordance with the terms hereof.

 

“Depositary” shall mean
Computershare and the Trust Company, acting jointly, and any successor as Depositary hereunder.

 

“Depositary Shares” shall
mean the depositary shares, each representing one-fortieth (1/40th) of one share of the Preferred Stock, and evidenced by a Receipt.

 

“Depositary’s Agent”
shall mean an agent appointed by the Depositary pursuant to Section 7.5.

 

“Depositary’s Office”
shall mean the office of the Depositary, at which at any particular time its depositary receipt business shall be administered,
which at the date of this Deposit Agreement is located at 150 Royall Street, Canton, Massachusetts 02021.

 

“DTC” shall mean The Depository
Trust Company.

 

“Exchange Act” shall mean
the Securities Exchange Act of 1934, as amended.

 

“Exchange Event” shall
mean with respect to any Global Registered Receipt: (i) (A) the Global Receipt Depository which is the Holder of such
Global Registered Receipt notifies the Corporation that it is no longer willing or able to properly discharge its responsibilities
under any Letter of Representations or that it is no longer eligible or in good standing under the Exchange Act, and (B) the
Corporation has not appointed a qualified successor Global Receipt Depository within ninety (90) calendar days after the Corporation
received such notice, or (ii) the Corporation in its sole discretion notifies the Depositary in writing that the Receipts
or portion thereof issued or issuable in the form of one or more Global Registered Receipts shall no longer be represented by such
Global Registered Receipt.

 

“Funds” shall have the
meaning set forth in Section 4.1.

 

“Global Receipt Depository”
shall mean, with respect to any Receipt issued hereunder, DTC or such other entity designated as Global Receipt Depository by the
Corporation in or pursuant to this Deposit Agreement, which entity must be, to the extent required by any applicable law or regulation,
a clearing agency registered under the Exchange Act.

 

“Global Registered Receipt”
shall mean a global registered Receipt registered in the name of a nominee of the Global Receipt Depository.

 

“Letter of Representations”
shall mean any applicable agreement among the Corporation, the Depositary and a Global Receipt Depository with respect to such
Global Receipt Depository’s rights and obligations with respect to any Global Registered Receipt, as the same may be amended,
supplemented, restated or otherwise modified from time to time and any successor agreement thereto.

 

    		-2-	 

     

    

 

“Person” shall mean any
natural person, partnership, joint venture, firm, corporation, limited liability company, limited liability partnership, unincorporated
association, trust or other entity, and shall include any successor (by merger or otherwise) of the foregoing.

 

“Preferred Stock” shall
mean the shares of the Corporation’s Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, $1,000 liquidation
preference per share, designated in the Certificate of Designations.

 

“Receipt” shall mean one
of the depositary receipts issued hereunder, substantially in the form set forth as Exhibit A hereto, whether in definitive
or temporary form, and evidencing the number of Depositary Shares with respect to shares of the Preferred Stock held of record
by the Record Holder of such Depositary Shares.

 

“Record Holder” or “Holder”
as applied to a Receipt shall mean the Person in whose name such Receipt is registered on the books of the Depositary maintained
for such purpose.

 

“Redemption Date” shall
have the meaning set forth in Section 2.8.

 

“Registrar” shall mean
the Trust Company and Computershare, or such other successor bank or trust company which shall be appointed by the Corporation
to register ownership and transfers of Receipts and the deposited shares of Preferred Stock as herein provided, and if a successor
Registrar shall be so appointed, references herein to “the books” of or maintained by the Depository shall be deemed,
as applicable, to refer as well to the register maintained by such Registrar for such purpose.

 

“Securities Act” shall
mean the Securities Act of 1933, as amended.

 

“Signature Guarantee” shall
have the meaning set forth in Section 2.3.

 

“Transfer Agent” shall
mean the Trust Company and Computershare, or such other successor bank or trust company which shall be appointed by the Corporation
to transfer the Receipts or the deposited shares of Preferred Stock, as the case may be, as herein provided.

 

“Trust Company” shall mean
Computershare Trust Company, N.A., a federally chartered trust company.

 

    		-3-	 

     

    

 

ARTICLE II

Form of Receipts, Deposit of the Preferred Stock,

Execution and Delivery, Transfer, Surrender
and Redemption of

Receipts

 

2.1            Form and
Transfer of Receipts.

 

The definitive Receipts shall be substantially
in the form set forth in Exhibit A attached to this Deposit Agreement, with appropriate insertions, modifications and
omissions, as hereinafter provided (but which do not affect the rights, duties, obligations or immunities of the Depositary as
set forth in this Deposit Agreement without the Depositary’s consent). Pending the preparation of definitive Receipts, the
Depositary, upon the written order of the Corporation, delivered in compliance with Section 2.2, shall be authorized and instructed
to, and shall execute and deliver temporary Receipts which may be printed, lithographed, typewritten, mimeographed or otherwise
substantially of the tenor of the definitive Receipts in lieu of which they are issued and with such appropriate insertions, omissions,
substitutions and other variations as the Persons executing such Receipts may determine, as evidenced by their execution of such
Receipts. If temporary Receipts are issued, the Corporation and the Depositary will cause definitive Receipts to be prepared without
unreasonable delay. After the preparation of definitive Receipts, the temporary Receipts shall be exchangeable for definitive Receipts
upon surrender of the temporary Receipts at the Depositary’s Office or at such other place or places as the Depositary shall
determine, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Receipts, the Depositary
is hereby authorized and instructed to, and shall execute and deliver in exchange therefor definitive Receipts representing the
same number of Depositary Shares as represented by the surrendered temporary Receipt or Receipts registered in the name (and only
in the name) of the holder of the temporary Receipt(s); provided that, the Depositary has been provided with all necessary information
that it may request in order to execute and deliver such definitive Receipt(s). Such exchange shall be made at the Corporation’s
expense and without any charge therefor. Until so exchanged, the temporary Receipts shall in all respects be entitled to the same
benefits under this Deposit Agreement, and with respect to the Preferred Stock, as definitive Receipts.

 

Any Receipt to be executed by the Depositary
pursuant to this Deposit Agreement shall be executed by the manual or facsimile signature of a duly authorized officer of the Depositary.
No Receipt shall be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it shall
have been executed manually or by the facsimile signature of a duly authorized officer of the Depositary or, if a Registrar for
the Receipts (other than the Depositary) shall have been appointed, by manual or facsimile signature of a duly authorized officer
of the Depositary and countersigned by the manual or facsimile signature by a duly authorized officer of such Registrar. The Depositary
shall record on its books each Receipt so signed and delivered as hereinafter provided.

 

Receipts shall be in denominations of any
number of whole Depositary Shares. All Receipts shall be dated the date of their issuance.

 

Receipts may be endorsed with or have incorporated
in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Deposit Agreement, all as
may be required by the Depositary and approved by the Corporation or required to comply with any applicable law or any regulation
thereunder or with the rules and regulations of any securities exchange upon which the Preferred Stock, the Depositary Shares
or the Receipts may be listed or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions
to which any particular Receipt is subject (but which do not affect the rights, duties, obligations or immunities of the Depositary
as set forth in this Deposit Agreement without the Depositary’s consent).

 

    		-4-	 

     

    

 

Title to Depositary Shares evidenced by a
Receipt which is properly endorsed or accompanied by a properly executed instrument of transfer, shall be transferable by delivery
of such Receipt with the same effect as if such Receipt were a negotiable instrument; provided, however, that until transfer of
any particular Receipt shall be registered on the books of the Depositary as provided in Section 2.3, the Depositary may,
notwithstanding any notice to the contrary, treat the Record Holder thereof at such time as the absolute owner thereof for the
purpose of determining the Person entitled to distributions of dividends or other distributions or to any notice provided for in
this Deposit Agreement and for all other purposes.

 

The Corporation shall cause to be provided
an opinion of counsel containing opinions, or a letter of counsel to the Corporation authorizing reliance on such counsel’s
opinions delivered to the underwriters named therein, relating to (i) the status of the Preferred Stock and Depositary Shares
as validly issued, fully paid and non-assessable and (ii) the registration of the Depositary Shares and Preferred Stock under
the Securities Act.

 

2.2            Deposit
of the Preferred Stock; Execution and Delivery of Receipts in Respect Thereof.

 

Subject to the terms and conditions of this
Deposit Agreement, the Corporation may from time to time deposit shares of the Preferred Stock under this Deposit Agreement by
delivery to the Depositary, including via electronic book-entry, of the shares of Preferred Stock to be deposited (or in such other
manner as may be agreed to by the Corporation and the Depositary), duly endorsed and accompanied, if required by the Depositary,
by a duly executed instrument of transfer or endorsement, in form reasonably satisfactory to the Depositary, together with all
such certifications as may be required by the Depositary pursuant to this Deposit Agreement, and together with a written order
of the Corporation directing the Depositary to (i) register such shares of the Preferred Stock in uncertificated form by direct
registration, and (ii) execute and deliver to, or upon the written order of, the Person or Persons stated in such order a
Receipt or Receipts evidencing in the aggregate the number of Depositary Shares representing such deposited shares of the Preferred
Stock.

 

The shares of the Preferred Stock that
are deposited pursuant to this Deposit Agreement shall be held by the Depositary at the Depositary’s Office or at such
other place or places as the Depositary shall determine. The Depositary shall not lend any shares of the Preferred Stock
deposited hereunder.

 

Upon receipt by the Depositary of shares of
the Preferred Stock deposited in accordance with the provisions of this Section 2.2, together with the other documents required
as above specified, and upon recordation of the shares of the Preferred Stock on the books of the Corporation (or its duly appointed
transfer agent) in the name of the Depositary or its nominee, the Depositary, subject to the terms and conditions of this Deposit
Agreement, shall execute and deliver to or upon the order of the Person or Persons named in the written order delivered to the
Depositary referred to in the first paragraph of this Section 2.2, a Receipt or Receipts evidencing in the aggregate the number
of Depositary Shares representing the shares of the Preferred Stock so deposited and registered in such name or names as may be
requested by such Person or Persons. The Depositary shall execute and deliver such Receipt or Receipts at the Depositary’s
Office or such other offices, if any, as the Depositary may designate. Delivery at other offices shall be at the risk and expense
of the Person requesting such delivery.

 

    		-5-	 

     

    

 

2.3            Registration
of Transfer of Receipts.

 

Subject to the terms and conditions of this
Deposit Agreement, the Depositary, as Transfer Agent and Registrar for the Receipts, shall register on its books from time to time
transfers of Receipts upon any surrender thereof by the Holder in person or by duly authorized attorney, properly endorsed or accompanied
by a properly executed instrument of transfer or endorsement, including a guarantee of the signature thereon by a guarantor institution
that is a participant in a signature guarantee program approved by the Securities Transfer Association (a “Signature Guarantee”).
Thereupon, the Depositary shall execute a new Receipt or Receipts evidencing the same aggregate number of Depositary Shares as
those evidenced by the Receipt or Receipts surrendered and deliver such new Receipt or Receipts to or upon the order of the Person
entitled thereto.

 

The Depositary shall not be required (i) to
issue, transfer or exchange any Receipts for a period beginning at the opening of business fifteen (15) days next preceding any
selection of Depositary Shares and Preferred Stock to be redeemed and ending at the close of business on the day of the sending
of notice of redemption, or (ii) to transfer or exchange for another Receipt any Receipt called or being called for redemption
in whole or in part except as provided in Section 2.8.

 

2.4            Split-ups
and Combinations of Receipts; Surrender of Receipts and Withdrawal of the Preferred Stock.

 

Upon surrender of a Receipt or Receipts at
the Depositary’s Office or at such other offices as it may designate for the purpose of effecting a split-up or combination
of such Receipt or Receipts, and the receipt by the Depositary of all other necessary information and documents, and subject to
the terms and conditions of this Deposit Agreement, the Depositary shall execute a new Receipt or Receipts in the authorized denomination
or denominations

requested, evidencing the aggregate number of Depositary Shares
evidenced by the Receipt or Receipts surrendered, and shall deliver such new Receipt or Receipts to or upon the order of the Holder
of the Receipt or Receipts so surrendered; provided, however, that the Depositary shall not issue any Receipt evidencing a fractional
Depositary Share.

 

Any Holder of a Receipt or Receipts may withdraw
the number of whole shares of the Preferred Stock and all money and other property, if any, represented thereby by surrendering
such Receipt or Receipts at the Depositary’s Office or at such other offices as the Depositary may designate for such withdrawals;
provided, however, that a Holder of a Receipt or Receipts may not withdraw such whole shares of Preferred Stock (or money and other
property, if any, represented thereby) which has previously been called for redemption. After such surrender and upon the receipt
of written instructions from the Holder of such Receipt or Receipts, without unreasonable delay (provided the Corporation has provided
the Depositary with all necessary documentation), the Depositary shall deliver to such Holder, or to the Person or Persons designated
by such Holder as hereinafter provided, the number of whole shares of the Preferred Stock and all money and other property, if
any, represented by the Receipt or Receipts so surrendered for withdrawal, but Holders of such whole shares of the Preferred Stock
will not thereafter be entitled to deposit such shares of the Preferred Stock hereunder or to receive a Receipt evidencing Depositary
Shares therefor. Delivery of such shares of the Preferred Stock and such money and other property being withdrawn may be made by
the delivery of such certificates, documents of title and other instruments as the Depositary may deem appropriate, which, if required
by the Depositary, shall be properly endorsed or accompanied by proper instruments of transfer. If a Receipt delivered by the Holder
to the Depositary in connection with such withdrawal shall evidence a number of Depositary Shares in excess of the number of Depositary
Shares representing the number of whole shares of the Preferred Stock to be withdrawn, the Depositary shall at the same time, in
addition to such number of whole shares of the Preferred Stock and such money and other property, if any, to be so withdrawn, deliver
to such Holder, or subject to Section 2.3 upon his order, a new Receipt evidencing such excess number of Depositary Shares.

 

    		-6-	 

     

    

 

In no event will fractional shares of the
Preferred Stock (or any cash payment in lieu thereof) be delivered by the Depositary. Delivery of shares of the Preferred Stock
and money and other property, if any, being withdrawn may be made by the delivery of such certificates, documents of title and
other instruments as the Depositary may deem appropriate.

 

If shares of the Preferred Stock and the money
and other property, if any, being withdrawn are to be delivered to a Person or Persons other than the Record Holder of the related
Receipt or Receipts being surrendered for withdrawal of such shares of the Preferred Stock, such Holder shall execute and deliver
to the Depositary a written order so directing the Depositary and the Depositary may require that the Receipt or Receipts surrendered
by such Holder for withdrawal of such shares of the Preferred Stock be properly endorsed in blank or accompanied by a properly
executed instrument of transfer in blank.

 

Delivery of shares of the Preferred Stock
and the money and other property, if any, represented by Receipts surrendered for withdrawal shall be made by the Depositary at
the Depositary’s Office, except that, at the request, risk and expense of the Holder surrendering such Receipt or Receipts
and for the account of the Holder thereof, such delivery may be made at such other place as may be designated by such Holder.

 

2.5            Limitations
on Execution and Delivery, Transfer, Surrender and Exchange of Receipts.

 

As a condition precedent to the execution
and delivery, registration of transfer, split-up, combination, surrender or exchange of any Receipt, the Depositary, any of the
Depositary’s Agents or the Corporation may require (i) payment to it of a sum sufficient for the payment (or, in the
event that the Depositary or the Corporation shall have made such payment, the reimbursement to it) of any charges, taxes or expenses
payable by the Holder of a Receipt pursuant to Section 5.7 (including any such tax or charge with respect to the shares of
Preferred Stock being deposited or withdrawn or any charges or expense pursuant to Section 3.2), (ii) the production
of evidence satisfactory to it as to the identity and genuineness of any signature (which evidence may include a Signature Guarantee),
and (iii) any other reasonable evidence of authority that may be required by the Depositary, and may also require compliance
with such requirements, if any, as the Depositary or the Corporation may establish consistent with the provisions of this Deposit
Agreement and/or applicable law.

 

    		-7-	 

     

    

 

The deposit of shares of the Preferred Stock
may be refused, the delivery of Receipts against shares of the Preferred Stock may be suspended, the registration of transfer of
Receipts may be refused and the registration of transfer, surrender or exchange of outstanding Receipts may be suspended (i) during
any period when the register of stockholders of the Corporation is closed or (ii) if any such action is deemed necessary or
advisable by the Depositary, any of the Depositary’s Agents or the Corporation at any time or from time to time because of
any requirement of law or of any government or governmental body or commission or under any provision of this Deposit Agreement.

 

2.6            Lost
Receipts, etc.

 

In case any Receipt shall be mutilated, destroyed,
lost or stolen, the Depositary in its discretion may, absent notice to the Depositary that such Receipt has been acquired by a
bona fide purchaser, execute and deliver a Receipt of like form and tenor in exchange and substitution for such mutilated
Receipt, or in lieu of and in substitution for such destroyed, lost or stolen Receipt, only upon (i) the filing by the Holder
thereof with the Depositary of evidence satisfactory to the Depositary of such destruction or loss or theft of such Receipt, of
the authenticity thereof and of his or her ownership thereof; and (ii) the Holder thereof furnishing the Depositary with an
open penalty surety bond or other indemnity satisfactory to the Depositary. Such Holder shall also comply with such other reasonable
regulations and pay such other reasonable charges as the Depositary may prescribe.

 

2.7            Cancellation
and Destruction of Surrendered Receipts.

 

All Receipts surrendered to the Depositary
or any Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the
Depositary is authorized and directed to destroy all Receipts so cancelled.

 

    		-8-	 

     

    

 

2.8            Redemption
of the Preferred Stock.

 

Whenever the Corporation shall be permitted
and shall elect to redeem shares of the Preferred Stock in accordance with the terms of the Certificate of Designations, it shall
(unless otherwise agreed to in writing with the Depositary) give or cause to be given to the Depositary, not less than thirty-five
(35) days and not more than sixty (60) days prior to the Redemption Date (as defined below), notice of the date of such proposed
redemption of shares of the Preferred Stock and of the number of such shares held by the Depositary to be so redeemed and the applicable
redemption price, which notice shall be accompanied by a certificate from the Corporation stating that such redemption of shares
of the Preferred Stock is in accordance with the provisions of the Certificate of Designations. On the date of such redemption,
provided that the Corporation shall then have paid or caused to be paid in full to Computershare the redemption price of $1,000
per share of the Preferred Stock to be redeemed, plus an amount equal to any declared and unpaid dividends thereon to the date
fixed for redemption to be redeemed, in accordance with the provisions of the Certificate of Designations, the Depositary shall
redeem the number of Depositary Shares representing such shares of the Preferred Stock. The Depositary shall, if requested in writing
and provided with all necessary information, transmit the notice of the Corporation’s redemption of shares of the Preferred
Stock and the proposed simultaneous redemption of the number of Depositary Shares representing such shares of the Preferred Stock
to be redeemed by first-class mail, postage prepaid, at the respective last addresses as they appear on the records of the Depositary,
or transmit by such other method approved by the Depositary, in its reasonable discretion, in either case not less than thirty
(30) days and not more than sixty (60) days prior to the date fixed for redemption of such shares of the Preferred Stock and Depositary
Shares (the “Redemption Date”), to the Record Holders of the Receipts evidencing the Depositary Shares to be
so redeemed at the addresses of such Holders as they appear on the records of the Depositary; but neither failure to mail or transmit
any such notice of redemption of Depositary Shares to one or more such Holders nor any defect in any notice of redemption of Depositary
Shares to one or more such Holders shall affect the sufficiency of the proceedings for redemption as to the other Holders. Each
such notice shall be prepared by the Corporation and shall state: (i) the Redemption Date; (ii) the number of Depositary
Shares to be redeemed and, if less than all the Depositary Shares held by any such Holder are to be redeemed, the number of such
Depositary Shares held by such Holder to be so redeemed; (iii) the redemption price; (iv) the place or places where Receipts
evidencing such Depositary Shares are to be surrendered for payment of the redemption price; and (v) that dividends in respect
of the Preferred Stock represented by such Depositary Shares to be redeemed will cease to accrue on such Redemption Date. In case
less than all the outstanding Depositary Shares are to be redeemed, the Depositary Shares to be so redeemed shall be selected either
pro rata or by lot or in such other manner as the Corporation may determine to be fair and equitable (which determination
the Corporation will promptly notify the Depositary in writing). In any such case, the Depositary Shares shall only be redeemed
in increments of 40 shares and any integral multiple thereof.

 

Notice having been mailed or transmitted by
the Depositary as aforesaid, from and after the Redemption Date (unless the Corporation shall have failed to provide the funds
necessary to redeem shares of the Preferred Stock evidenced by the Depositary Shares called for redemption) (i) all dividends
on the shares of the Preferred Stock so called for redemption shall cease to accrue from and after such date; (ii) the Depositary
Shares being redeemed from such proceeds shall be deemed no longer to be outstanding; (iii) all rights of the Holders of Receipts
evidencing such Depositary Shares (except the right to receive the redemption price) shall, to the extent of such Depositary Shares,
cease and terminate; and (iv) upon surrender in accordance with such redemption notice of the Receipts evidencing any such
Depositary Shares called for redemption (properly endorsed or assigned for transfer, if the Depositary or applicable law shall
so require), such Depositary Shares shall be redeemed by the Depositary at a redemption price per Depositary Share equal to one-fortieth
(1/40th) of the redemption price per share of the Preferred Stock so redeemed plus all money and other property, if any, represented
by such Depositary Shares, including all amounts paid by the Corporation in respect of dividends which on the Redemption Date have
been declared on the shares of the Preferred Stock to be so redeemed and have not theretofore been paid (it being understood that,
in accordance with the provisions of the Certificate of Designations, any declared but unpaid dividends payable on a Redemption
Date that occurs subsequent to the record date fixed pursuant to Section 4.4 for a dividend period shall not be paid to the
Holder of a Receipt entitled to receive the redemption price on the Redemption Date, but rather shall be paid to the Holder of
such Receipt on such record date).

 

    		-9-	 

     

    

 

If fewer than all of the Depositary Shares
evidenced by a Receipt are called for redemption, the Depositary will deliver to the Holder of such Receipt upon its surrender
to the Depositary, together with the redemption payment, a new Receipt evidencing the Depositary Shares evidenced by such prior
Receipt and not called for redemption; provided, however, that the Depositary shall not issue any Receipt evidencing a fractional
Depositary Share.

 

2.9            Receipts
Issuable in Global Registered Form.

 

If the Corporation shall determine in a writing
delivered to the Depositary that the Receipts are to be issued in whole or in part in the form of one or more Global Registered
Receipts, then the Depositary shall, if instructed and provided with all necessary information, in accordance with the other provisions
of this Deposit Agreement, execute and deliver one or more Global Registered Receipts evidencing the Receipts, which (i) shall
represent, and shall be denominated in an amount equal to the aggregate number of Depositary Shares of, the Receipts to be represented
by such Global Registered Receipt or Receipts and (ii) shall be registered in the name of the Global Receipt Depository therefor
or its nominee.

 

Notwithstanding any other provision of this
Deposit Agreement to the contrary, unless otherwise provided in the Global Registered Receipt, a Global Registered Receipt may
only be transferred in whole and only by the applicable Global Receipt Depository for such Global Registered Receipt to a nominee
of such Global Receipt Depository, or by a nominee of such Global Receipt Depository to such Global Receipt Depository or another
nominee of such Global Receipt Depository, or by such Global Receipt Depository or any such nominee to a successor Global Receipt
Depository for such Global Registered Receipt selected or approved by the Corporation or to a nominee of such successor Global
Receipt Depository. Except as provided below, owners solely of beneficial interests in a Global Registered Receipt shall not be
entitled to receive physical delivery of the Receipts represented by such Global Registered Receipt. Neither any such beneficial
owner nor any direct or indirect participant of a Global Receipt Depository shall have any rights under this Deposit Agreement
with respect to any Global Registered Receipt held on their behalf by a Global Receipt Depository and such Global Receipt Depository
may be treated by the Corporation, the Depositary and any director, officer, employee or agent of the Corporation or the Depositary
as the Holder of such Global Registered Receipt for all purposes whatsoever. Unless and until definitive Receipts are delivered
to the owners of the beneficial interests in a Global Registered Receipt, (i) the applicable Global Receipt Depository will
make book-entry transfers among its participants and receive and transmit all payments and distributions in respect of the Global
Registered Receipts to such participants, in each case, in accordance with its applicable procedures and arrangements, and (ii) whenever
any notice, payment or other communication to the holders of Global Registered Receipts is required under this Deposit Agreement,
the Corporation and the Depositary shall give all such notices, payments and communications specified herein to be given to such
holders to the applicable Global Receipt Depository.

 

If an Exchange Event has occurred with respect
to any Global Registered Receipt, then, in any such event, the Depositary shall, upon receipt of a written order from the Corporation
authorizing and directing the Depositary to execute and deliver the individual definitive registered Receipts in exchange for such
Global Registered Receipt, execute and deliver, individual definitive registered Receipts, in authorized denominations and of like
terms in an aggregate number of Depositary Shares equal to the aggregate number of Depositary Shares represented by the Global
Registered Receipt in exchange for such Global Registered Receipt. The Depositary shall have no duties, obligations or liability
under this paragraph unless and until such written order have been received by the Depositary.

 

    		-10-	 

     

    

 

Definitive registered Receipts issued in exchange
for a Global Registered Receipt pursuant to this Section 2.9 shall be registered in such names and in such authorized denominations
as the Global Receipt Depository for such Global Registered Receipt, pursuant to instructions from its participants, shall instruct
the Depositary in writing. The Depositary shall deliver such Receipts to the Persons in whose names such Receipts are so registered.

 

Notwithstanding anything to the contrary in
this Deposit Agreement, should the Corporation determine that the Receipts should be issued as a Global Registered Receipt, the
parties hereto shall comply with the terms of each Letter of Representations.

 

2.10            Receipt
of Funds.

 

All funds received by Computershare under
this Deposit Agreement that are to be distributed or applied by Computershare in the performance of Services (the “Funds”)
shall be held by Computershare as agent for the Corporation and deposited in one or more bank accounts to be maintained by Computershare
in its name as agent for the Corporation. Until paid pursuant to this Deposit Agreement, Computershare may hold or invest the Funds
through such accounts in: (i) obligations of, or guaranteed by, the United States of America, (ii) commercial paper obligations
rated A-1 or P-1 or better by Standard & Poor’s Corporation (“S&P”) or Moody’s Investors
Service, Inc. (“Moody’s”), respectively, (iii) money market funds that comply with Rule 2a-7
of the Investment Company Act of 1940, or (iv) demand deposit accounts, short term certificates of deposit, bank repurchase
agreements or bankers’ acceptances, of commercial banks with Tier 1 capital exceeding $1 billion or with an average rating
above investment grade by S&P (LT Local Issuer Credit Rating), Moody’s (Long Term Rating) and Fitch Ratings, Inc.
(LT Issuer Default Rating) (each as reported by Bloomberg Finance L.P.). The Corporation shall have no responsibility or liability
for any diminution of the Funds that may result from any deposit or investment made by Computershare in accordance with this paragraph,
except for any losses resulting from a default by any bank, financial institution or other third party. Computershare may from
time to time receive interest, dividends or other earnings in connection with such deposits or investments. Computershare shall
not be obligated to pay such interest, dividends or earnings to the Corporation, any holder or any other party.

 

ARTICLE III

Certain Obligations of Holders of

Receipts and the Corporation

 

3.1            Filing
Proofs, Certificates and Other Information.

 

Any Holder of a Receipt may be required from
time to time to file such proof of residence, or other matters or other information, to execute such certificates and to make such
representations and warranties as the Depositary or the Corporation may reasonably deem necessary or proper. The Depositary or
the Corporation may withhold the delivery, or delay the registration of transfer or redemption, of any Receipt or withhold or delay
the withdrawal of shares of the Preferred Stock represented by the Depositary Shares and evidenced by a Receipt or the distribution
of any dividend or other distribution or the sale of any rights or of the proceeds thereof until such proof or other information
is filed or such certificates are executed or such representations and warranties are made.

 

    		-11-	 

     

    

 

3.2            Payment
of Taxes or Other Governmental Charges.

 

Holders of Receipts shall be obligated to
make payments to the Depositary of certain taxes, charges and expenses, as provided in Section 5.7. Registration of transfer
of any Receipt or any withdrawal of shares of the Preferred Stock and all money or other property, if any, represented by the Depositary
Shares evidenced by such Receipt may be refused until any such payment due is made, and any dividends, interest payments or other
distributions may be withheld or any part of or all shares of the Preferred Stock or other property represented by the Depositary
Shares evidenced by such Receipt and not theretofore sold may be sold for the account of the Holder thereof (after attempting by
reasonable means to notify such Holder prior to such sale), and such dividends, interest payments or other distributions or the
proceeds of any such sale may be applied to any payment of such charges or expenses, with the Holder of such Receipt remaining
liable for any deficiency.

 

3.3            Warranty
as to the Preferred Stock.

 

The Corporation hereby represents and warrants
that shares of the Preferred Stock, when issued, will be duly authorized, validly issued, fully paid and nonassessable. Such representation
and warranty shall survive the deposit of shares of the Preferred Stock and the issuance of the related Receipts.

 

3.4            Warranty
as to Receipts.

 

The Corporation hereby represents and warrants
that the Receipts, when issued, will represent legal and valid interests in shares of the Preferred Stock. Such representation
and warranty shall survive the deposit of shares of the Preferred Stock and the issuance of the related Receipts.

 

ARTICLE IV

The Deposited Securities; Notices

 

4.1            Cash
Distributions.

 

Whenever Computershare shall receive any
cash dividend or other cash distribution on the Preferred Stock, Computershare shall, subject to Sections 3.1 and 3.2 and, if
received, in accordance with written instructions from the Corporation, distribute to Record Holders of Receipts on the
record date fixed pursuant to Section 4.4 such amounts of such dividend or distribution as are, as nearly as
practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such Holders;
provided, however, that in case the Corporation or Computershare shall be required to withhold and shall withhold from any
cash dividend or other cash distribution in respect of the Preferred Stock an amount on account of taxes, the amount made
available for distribution or distributed in respect of Depositary Shares shall be reduced accordingly. Computershare shall
distribute or make available for distribution, as the case may be and, if received, in accordance with the
Corporation’s written instructions, only such amount, however, as can be distributed without attributing to any Holder
of Receipts a fraction of one cent, and any balance not so distributable shall be held by Computershare (without liability
for interest thereon) and shall be added to and be treated as part of the next sum received by Computershare for distribution
to Record Holders of Receipts then outstanding. Each Holder of a Receipt shall provide the Depositary with its certified tax
identification number on a properly completed Form W-8 or W-9 or other appropriate form, as may be applicable. Each
Holder of a Receipt acknowledges that, in the event of non-compliance with the preceding sentence, the Internal Revenue Code
of 1986, as amended, may require withholding by the Depositary of a portion of any of the distributions to be made to such
Holder hereunder.

 

    		-12-	 

     

    

 

4.2            Distributions
Other than Cash, Rights, Preferences or Privileges.

 

Whenever the Depositary shall receive any
distribution other than cash, rights, preferences or privileges upon the Preferred Stock, the Depositary shall, subject to Sections
3.1 and 3.2, distribute to Record Holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of the
securities or property received by it as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares
evidenced by such Receipts held by such Holders, in any manner that the Depositary (with the approval of the Corporation) may deem
equitable and practicable for accomplishing such distribution. If in the opinion of the Depositary such distribution cannot be
made proportionately among such Record Holders, or if for any other reason (including any requirement that the Corporation or the
Depositary withhold an amount on account of taxes or charges) the Depositary deems, after consultation with the Corporation, such
distribution not to be feasible, the Depositary may, with the approval of the Corporation, adopt such method as it deems equitable
and practicable for the purpose of effecting such distribution, including the sale (at public or private sale) of the securities
or property thus received, or any part thereof, in a commercially reasonable manner. The net proceeds of any such sale shall, subject
to Sections 3.1 and 3.2, be distributed or made available for distribution, as the case may be, by Computershare to Record Holders
of Receipts as provided by Section 4.1 in the case of a distribution received in cash. The Corporation shall not make any
distribution of such securities or property to the Depositary and the Depositary shall not make any distribution of such securities
or property to the Holders of Receipts unless the Corporation shall have provided an opinion of counsel stating that such securities
or property have been registered under the Securities Act or do not need to be registered in connection with such distributions.

 

4.3            Subscription
Rights, Preferences or Privileges.

 

If the Corporation shall at any time
offer or cause to be offered to the Persons in whose names shares of the Preferred Stock is recorded on the books of the
Corporation any rights, preferences or privileges to subscribe for or to purchase any securities or any rights, preferences
or privileges of any other nature, such rights, preferences or privileges shall in each such instance be communicated to the
Depositary and made available by the Depositary to the Record Holders of Receipts in such manner as the Corporation shall
direct and the Depositary shall agree, either by the issue to such Record Holders of warrants representing such rights,
preferences or privileges or by such other method as may be approved by the Corporation in its discretion with the
acknowledgement of the Depositary; provided, however, that (i) if at the time of issue or offer of any
such rights, preferences or privileges the Corporation determines that it is not lawful or (after consultation with the
Depositary) not feasible to make such rights, preferences or privileges available to Holders of Receipts by the issue of
warrants or otherwise, or (ii) if and to the extent so instructed by Holders of Receipts who do not desire to exercise
such rights, preferences or privileges, then the Corporation, in its discretion (with acknowledgement of the Depositary, in
any case where the Corporation has determined that it is not feasible to make such rights, preferences or privileges
available), may, if applicable laws or the terms of such rights, preferences or privileges permit such transfer, sell such
rights, preferences or privileges at public or private sale, at such place or places and upon such terms as it may deem
proper. The net proceeds of any such sale shall be delivered to Computershare and, if received, in accordance with the
written instructions of the Corporation and, subject to Sections 3.1 and 3.2, be distributed by Computershare to the Record
Holders of Receipts entitled thereto as provided by Section 4.1 in the case of a distribution received in cash.

 

    		-13-	 

     

    

 

The Corporation shall notify the Depositary
whether registration under the Securities Act of the securities to which any rights, preferences or privileges relate is required
in order for Holders of Receipts to be offered or sold the securities to which such rights, preferences or privileges relate, and
the Corporation agrees with the Depositary that it will file promptly a registration statement pursuant to the Securities Act with
respect to such rights, preferences or privileges and securities and use its best efforts and take all steps available to it to
cause such registration statement to become effective sufficiently in advance of the expiration of such rights, preferences or
privileges to enable such Holders to exercise such rights, preferences or privileges. In no event shall the Depositary make available
to the Holders of Receipts any right, preference or privilege to subscribe for or to purchase any securities unless and until such
registration statement shall have become effective, or the Corporation shall have provided to the Depositary an opinion of counsel
to the effect that (i) the offering and sale of such securities to the Holders are exempt from registration under the provisions
of the Securities Act, and (ii) such securities are validly issued, fully paid and non-assessable.

 

The Corporation shall notify the Depositary
whether any other action under the laws of any jurisdiction or any governmental or administrative authorization, consent or permit
is required in order for such rights, preferences or privileges to be made available to Holders of Receipts, and the Corporation
agrees with the Depositary that the Corporation will use its reasonable best efforts to take such action or obtain such authorization,
consent or permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such Holders to
exercise such rights, preferences or privileges.

 

4.4            Notice
of Dividends, etc.; Fixing Record Date for Holders of Receipts.

 

Whenever any cash dividend or other cash
distribution shall become payable or any distribution other than cash shall be made, or if rights, preferences or privileges
shall at any time be offered, with respect to the Preferred Stock, or whenever the Depositary shall receive notice of any
meeting at which holders of the Preferred Stock are entitled to vote or of which holders of the Preferred Stock are entitled
to notice, or whenever the Depositary and the Corporation shall decide it is appropriate, the Depositary shall in each such
instance fix a record date (which shall be the same date as the record date fixed by the Corporation with respect to or
otherwise in accordance with the terms of the Preferred Stock) for the determination of the Holders of Receipts who shall be
entitled to receive such dividend, distribution, rights, preferences or privileges or the net proceeds of the sale thereof,
or to give instructions for the exercise of voting rights at any such meeting, or who shall be entitled to notice of such
meeting or for any other appropriate reasons.

 

    		-14-	 

     

    

 

4.5            Voting
Rights.

 

Subject to the provisions of the Certificate
of Designations, upon receipt of notice from the Corporation of any meeting at which the holders of the Preferred Stock are entitled
to vote, the Depositary shall, if requested in writing and provided with all necessary information and documents, as soon as practicable
thereafter, mail or transmit by such other method approved by the Depositary, in its reasonable discretion, to the Record Holders
of Receipts, as determined on the record date fixed pursuant to Section 4.4, a notice prepared by the Corporation which shall
contain (i) such information as is contained in such notice of meeting, (ii) a statement that the Holders of Receipts
at the close of business on a specified record date fixed pursuant to Section 4.4 may, subject to any applicable restrictions,
instruct the Depositary as to the exercise of the voting rights pertaining to the shares of the Preferred Stock represented by
their respective Depositary Shares (including an express indication that instructions may be given to the Depositary to give a
discretionary proxy to a Person designated by the Corporation), and (iii) a brief statement as to the manner in which such
instructions may be given. Upon the written request of the Holders of Receipts on the relevant record date, the Depositary shall
endeavor insofar as practicable to vote or cause to be voted, in accordance with the instructions set forth in such requests, the
maximum number of whole shares of the Preferred Stock represented by the Depositary Shares evidenced by all Receipts as to which
any particular voting instructions are received. The Corporation hereby agrees to take all reasonable action which may be deemed
necessary by the Depositary in order to enable the Depositary to vote such shares of the Preferred Stock or cause such shares to
be voted. In the absence of specific instructions from Holders of Receipts, the Depositary will not vote (but, at its discretion,
may appear at any meeting with respect to the Preferred Stock unless directed to the contrary by the Holders of all the Receipts)
to the extent of the shares of the Preferred Stock represented by the Depositary Shares evidenced by such Receipts. The Depositary
shall not be required to exercise discretion in voting any Preferred Stock represented by the Depositary Shares evidenced by such
Receipt.

 

4.6            Changes
Affecting Deposited Securities and Reclassifications, Recapitalizations, etc.

 

Upon any change in liquidation
preference, split-up, combination or any other reclassification of the Preferred Stock, subject to the provisions of the
Certificate of Designations, or upon any recapitalization, reorganization, merger or consolidation affecting the Corporation
or to which it is a party, the Depositary shall, upon the written instructions of the Corporation setting forth any
adjustment, (i) make such adjustments as are certified by the Corporation in (a) the fraction of an interest
represented by one Depositary Share in one share of the Preferred Stock and (b) the ratio of the redemption price per
Depositary Share to the redemption price per share of the Preferred Stock, in each case as stated in such instructions and
(ii) treat any securities or property (including cash) which shall be received by the Depositary in exchange for or upon
conversion of or in respect of the Preferred Stock as new deposited securities or property so received in exchange for or
upon conversion or in respect of such Preferred Stock. In any such case, the Depositary shall, upon receipt of written
instructions of the Corporation, execute and deliver additional Receipts or may call for the surrender of all outstanding
Receipts to be exchanged for new Receipts specifically describing such new deposited securities or property. Anything to the
contrary herein notwithstanding, Holders of Receipts shall have the right from and after the effective date of any such
change in liquidation preference, split-up, combination or other reclassification of the Preferred Stock or any such
recapitalization, reorganization, merger or consolidation to surrender such Receipts to the Depositary with instructions to
convert, exchange or surrender the shares of the Preferred Stock represented thereby only into or for, as the case may be,
the kind and amount of shares and other securities and property and cash into which the shares of the Preferred Stock
represented by such Receipts might have been converted or for which such shares might have been exchanged or surrendered
immediately prior to the effective date of such transaction; provided, that the Depositary shall not have any obligations
under this sentence unless and until it has received written instructions from the Corporation.

 

    		-15-	 

     

    

 

4.7            Delivery
of Receipts.

 

The Depositary shall, at the direction and
expense of the Corporation, furnish to Holders of Receipts any reports and communications received from the Corporation which are
received by the Depositary and which the Corporation is required to furnish to the holders of the Preferred Stock.

 

4.8            Lists
of Receipt Holders.

 

Promptly upon request from time to time by
the Corporation, the Registrar shall furnish to it a list, as of the most recent practicable date, of the names, addresses and
holdings of Depositary Shares of all registered Holders of Receipts.

 

ARTICLE V

The Depositary, the Depositary’s

Agents, The Registrar and the Corporation

 

5.1            Appointment;
Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar.

 

The Corporation hereby appoints Computershare
and Trust Company to jointly act as Depositary in accordance with the terms and conditions hereof, and Computershare and Trust
Company jointly accept this appointment.

 

Upon execution of this Deposit
Agreement, the Depositary shall maintain at the Depositary’s Office, facilities for the execution and delivery,
registration and registration of transfer, surrender and exchange of Receipts, and at the offices of the Depositary’s
Agents, if any, facilities for the delivery, registration of transfer, surrender and exchange of Receipts, all in accordance
with the provisions of this Deposit Agreement.

 

    		-16-	 

     

    

 

 

The Depositary shall keep books at the Depositary’s
Office for the registration and registration of transfer of Receipts. Upon direction by the Corporation and with reasonable notice
to the Depositary, the Registrar shall, at reasonable times during regular business hours, open its books for inspection by the
Record Holders of Receipts as directed by the Corporation; provided that any record Holder shall be granted such right by
the Corporation only after certifying that such inspection shall be for a proper purpose reasonably related to such Person’s
interest as an owner of Depositary Shares evidenced by the Receipts.

 

The Depositary or Registrar may close such
books, at any time or from time to time, when deemed necessary or advisable by the Depositary, the Registrar, any Depositary’s
Agent or the Corporation because of any requirement of law or of any government, governmental body or commission, stock exchange
or any applicable self-regulatory body.

 

If the Receipts or the Depositary Shares evidenced
thereby or the shares of the Preferred Stock represented by such Depositary Shares shall be listed on one or more national securities
exchanges, the Depositary may, with the written approval of the Corporation, appoint a Registrar (acceptable to the Corporation)
for registration of the Receipts or Depositary Shares in accordance with any requirements of such exchange. Such Registrar (which
may be the Depositary if so permitted by the requirements of any such exchange) may be removed and a substitute Registrar appointed
by the Depositary upon the written request or with the written approval of the Corporation. If the Receipts, such Depositary Shares
or the Preferred Stock are listed on one or more other securities exchanges, the Depositary will, at the written request and expense
of the Corporation, arrange such facilities for the delivery, registration, registration of transfer, surrender and exchange of
such Receipts, such Depositary Shares or the Preferred Stock as may be required by law or applicable securities exchange regulation.

 

5.2            Prevention
of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the Corporation.

 

Neither the Depositary nor any Depositary’s
Agent nor any Registrar nor any Transfer Agent nor the Corporation, as the case may be, shall incur any liability to any Holder
of Receipts or any beneficial owner, if by reason of any provision of any present or future law, or regulation thereunder, of the
United States of America or of any other governmental authority or, in the case of the Depositary, the Depositary’s Agent
or the Registrar or any Transfer Agent, as the case may be, by reason of any provision, present or future, of the Corporation’s
Amended and Restated Certificate of Incorporation (including the Certificate of Designations) or by reason of any act of God or
war or other circumstance beyond the control of the relevant party, the Depositary, the Depositary’s Agent, the Registrar,
the Transfer Agent or the Corporation, as the case may be, shall be prevented or forbidden from, or subjected to any penalty on
account of, doing or performing any act or thing which the terms of this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any Depositary’s
Agent, any Registrar, any Transfer Agent or the Corporation, as the case may be, incur liability to any Holder of a Receipt or
any beneficial owner (i) by reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing
which the terms of this Deposit Agreement shall provide shall or may be done or performed, or (ii) by reason of any exercise
of, or failure to exercise, any discretion provided for in this Deposit Agreement except as otherwise explicitly set forth in this
Deposit Agreement.

 

    	 	 -17-	 

     

    

 

5.3            Obligations
of the Depositary, the Depositary’s Agents, the Registrar, Transfer Agent and the Corporation.

 

The Corporation does not assume any obligation
and shall not be subject to any liability under this Deposit Agreement or any Receipt to holders of Receipts other than for its
gross negligence, willful misconduct or bad faith (each as determined by a final non-appealable judgment of a court of competent
jurisdiction). Neither the Depositary nor any Depositary’s Agent nor any Registrar or Transfer Agent, as the case may be,
assumes any obligation or shall be subject to any liability under this Deposit Agreement to Holders of Receipts, the Corporation
or to any other Person other than for its gross negligence, willful misconduct, or bad faith (each as determined by a final non-appealable
judgment of a court of competent jurisdiction). Notwithstanding anything in this Deposit Agreement to the contrary, neither the
Depositary, nor the Depositary’s Agent nor any Registrar nor any Transfer Agent nor the Corporation, as the case may be,
shall be liable in any event for special, punitive, incidental, indirect or consequential losses or damages of any kind whatsoever
(including but not limited to lost profits), even if they have been advised of the likelihood of such loss or damage and regardless
of the form of action. Any liability of the Depositary, any Depositary’s Agent or the Registrar or Transfer Agent, as the
case may be, under this Deposit Agreement will be limited in the aggregate to an amount equal to the annual fees paid by the Corporation
to such Person, but not including reimbursable expenses; provided, however, that in the event that such liability arises as a result
of bad faith, willful misconduct or fraud by the Depositary, any of the Depositary’s Agents (except for such Depositary’s
Agents which are not employees of the Depositary), any Registrar or any Transfer Agent, as the case may be, through fraud or willful
misconduct on the part of such Depositary, agent, Registrar or Transfer Agent, as the case may be (each as determined by a final
non-appealable judgment of a court of competent jurisdiction), such limit shall not apply and such liability hereunder shall be
instead limited to the amount of such misappropriated funds or the liability resulting from such bad faith, willful misconduct
or fraud.

 

Neither the Depositary nor any Depositary’s
Agent nor any Registrar nor any Transfer Agent nor the Corporation, as the case may be, shall be under any obligation to appear
in, prosecute or defend any action, suit or other proceeding in respect of the Preferred Stock, the Depositary Shares or the Receipts
which in its opinion may involve it in expense or liability unless indemnity satisfactory to it against all expense and liability
be furnished as often as may be required.

 

Neither the Depositary nor any Depositary’s
Agent nor any Registrar nor any Transfer Agent nor the Corporation, as the case may be, shall be liable for any action or any failure
to act by it in reliance upon the written advice of legal counsel or accountants, or information from any Person presenting the
shares of the Preferred Stock for deposit, any Holder of a Receipt or any other Person believed by it in the absence of bad faith,
gross negligence, or willful misconduct (each as determined by a final non-appealable judgment of a court of competent jurisdiction)
to be competent to give such information. The Depositary, any Depositary’s Agent, any Registrar, any Transfer Agent and the
Corporation, as the case may be, may each rely and shall each be protected in respect of any action taken, suffered or omitted
to be taken by it upon any written notice, request, direction or other document believed by it in the absence of bad faith, gross
negligence, or willful misconduct (each as determined by a final non-appealable judgment of a court of competent jurisdiction),
to be genuine and to have been signed or presented by the proper party or parties.

 

    	 	 -18-	 

     

    

 

The Depositary, the Depositary’s Agents,
any Transfer Agent or Registrar, as the case may be, shall not be responsible for any failure to carry out any instruction to vote
any of the shares of the Preferred Stock or for the manner or effect of any such vote made, as long as any such action or non-action
is not taken in bad faith, willful misconduct or gross negligence (each as determined by a final non-appealable judgment of a court
of competent jurisdiction). The Depositary undertakes, and any Depositary’s Agent, Registrar and any Transfer Agent, as the
case may be, shall be required to undertake, to perform such duties and only such duties as are specifically set forth in this
Deposit Agreement, and no implied covenants or obligations shall be read into this Deposit Agreement against the Depositary, any
Depositary’s Agent, Registrar or any Transfer Agent.

 

The Depositary, its parent, Affiliates, or
subsidiaries, any Depositary’s Agents, and any Transfer Agent and any Registrar, as the case may be, may own and deal in
any class of securities of the Corporation and its Affiliates and in Receipts or Depositary Shares or become pecuniarily interested
in any transaction in which the Corporation or its Affiliates may be interested or contract with or lend money to or otherwise
act as fully or as freely as if it were not the Depositary, the parent, Affiliate or subsidiary of the Depositary or the Depositary’s
Agent or Transfer Agent or Registrar hereunder. The Depositary may also act as transfer agent, trustee or registrar of any of the
securities of the Corporation and its Affiliates or act in any other capacity for the Corporation or its Affiliates.

 

The Depositary shall not be under any liability
for interest on any monies at any time received by it pursuant to any of the provisions of this Deposit Agreement or of the Receipts,
the Depositary Shares or the Preferred Stock nor shall it be obligated to segregate such monies from other monies held by it, except
as required by law. The Depositary shall not be responsible for advancing funds on behalf of the Corporation and shall have no
duty or obligation to make any payments if it has not timely received sufficient funds to make timely payments.

 

In the event the Depositary, the Depositary’s
Agents, any Transfer Agent or Registrar, as the case may be, believes any ambiguity or uncertainty exists hereunder or in any notice,
instruction, direction, request or other communication, paper or document received by the Depositary, the Depositary’s Agents,
any Transfer Agent or Registrar hereunder, or in the administration of any of the provisions of this Deposit Agreement, the Depositary,
the Depositary’s Agents, any Transfer Agent or Registrar shall deem it necessary or desirable that a matter be proved or
established prior to taking, omitting or suffering to take any action hereunder, the Depositary, the Depositary’s Agents,
any Transfer Agent or Registrar may, in its sole discretion upon providing written notice to the Corporation, refrain from taking
any action and the Depositary, the Depositary’s Agents, any Transfer Agent or Registrar shall be fully protected and shall
not be liable in any way to the Corporation, any Holders of Receipts or any other Person or entity for refraining from taking such
action, unless the Depositary, the Depositary’s Agents, any Transfer Agent or Registrar receives written instructions or
a certificate of the Corporation which eliminates such ambiguity or uncertainty to the satisfaction of the Depositary, the Depositary’s
Agents, any Transfer Agent or Registrar or which proves or establishes the applicable matter to the satisfaction of the Depositary,
the Depositary’s Agents, any Transfer Agent or Registrar. Such written instructions shall be full and complete authorization
to the Depositary, the Depositary’s Agents, any Transfer Agent or Registrar, as the case may be, and the Depositary, the
Depositary’s Agents, any Transfer Agent or Registrar shall incur no liability for or in respect of any action taken, suffered
or omitted by it under the provisions of this Deposit Agreement in reliance upon such written instructions.

 

    	 	 -19-	 

     

    

 

In the event the Depositary, the Depositary’s
Agent, the Registrar or the Transfer Agent, as the case may be, shall receive conflicting claims, requests or instructions from
any Holders of Receipts, on the one hand, and the Corporation, on the other hand, the Depositary, the Depositary’s Agent,
the Registrar or the Transfer Agent, as the case may be, shall be entitled to act on such claims, requests or instructions received
from the Corporation, and shall incur no liability and shall be entitled to the full indemnification set forth in Section 5.6
hereof in connection with any action so taken.

 

It is intended that the Depositary shall not
be deemed to be an “issuer” of the securities under the federal securities laws or applicable state securities laws,
it being expressly understood and agreed that the Depositary is acting only in a ministerial capacity as Depositary for the deposited
Preferred Stock. The Depositary will not be under any duty or responsibility to ensure compliance with any applicable federal or
state securities laws in connection with the issuance, transfer or exchange of the Receipts, the shares of Preferred Stock or Depositary
Shares.

 

The Depositary assumes no responsibility
for the correctness of the description that appears in the Receipts. Notwithstanding any other provision herein or in the
Receipts, the Depositary makes no warranties or representations as to the validity or genuineness of the Preferred Stock at
any time deposited with the Depositary hereunder or of the Depositary Shares, as to the validity or sufficiency of this
Deposit Agreement (except as to due authorization and due execution by the Depositary), as to the value of the Depositary
Shares or as to any right, title or interest of the record holders of Receipts in and to the Depositary Shares. The
Depositary shall not be accountable for the use or application by the Corporation of the Depositary Shares or the Receipts or
the proceeds thereof.

 

Neither the Depositary (or its officers, directors,
employees or agents), any Depositary’s Agent nor any Registrar or any Transfer Agent makes any representation or has any
responsibility as to the validity of any registration statement pursuant to which the Depositary Shares may be registered under
the Securities Act, the deposited Preferred Stock, the Depositary Shares, the Receipts (except its countersignature thereon) or
any instruments referred to therein or herein, or as to the correctness of any statement made in any such registration statement
or herein; provided that the Depositary is responsible for any and all of its representations in this Deposit Agreement.

 

The Depositary, any Depositary’s Agent,
Transfer Agent, and Registrar hereunder:

 

(i) shall have no duties or obligations
other than those specifically set forth herein (and no implied duties or obligations), or as may subsequently be agreed to in writing
by the parties;

 

    	 	 -20-	 

     

    

 

(ii) shall have no obligation to make
payment hereunder unless the Corporation shall have provided the necessary federal or other immediately available funds or securities
or property, as the case may be, to pay in full amounts due and payable with respect thereto;

 

(iii) shall not be obligated to take
any legal or other action hereunder; if, however, the Depositary determines to take any legal or other action hereunder, and, where
the taking of such action might in the Depositary’s judgment subject or expose it to any expense or liability, the Depositary
shall not be required to act unless it shall have been furnished with an indemnity satisfactory to it;

 

(iv) may rely on and shall be authorized
and protected in acting or failing to act upon any certificate, instrument, opinion, notice, letter, telegram, telex, facsimile
transmission or other document or security delivered to the Depositary and believed by the Depositary to be genuine and to have
been signed by the proper party or parties, and shall have no responsibility for determining the accuracy thereof;

 

(v) may
rely on and shall be authorized and protected in acting or omitting to act upon the written, telephonic, electronic and oral
instructions given in accordance with this Deposit Agreement, with respect to any matter relating to its actions as
Depositary, Transfer Agent or Registrar covered by this Deposit Agreement (or supplementing or qualifying any such actions),
of officers of the Corporation;

 

(vi) may
consult counsel satisfactory to it, and the advice of such counsel shall be full and complete authorization and protection in
respect of any action taken, suffered or omitted by the Depositary hereunder in accordance with the advice of such
counsel;

 

(vii) except
as specifically set forth herein, shall not be called upon at any time to advise any Person with respect to the Preferred
Stock, Depositary Shares or Receipts;

 

(viii) shall
not be liable or responsible for any recital or statement contained in any documents relating hereto or to the Preferred Stock,
the Depositary Shares or Receipts (except its countersignature hereof and thereof);

 

(ix) shall
not be liable in any respect on account of the identity, authority or rights of the parties (other than the Depositary) executing
or delivering or purporting to execute or deliver this Deposit Agreement or any documents or papers deposited or called for under
this Deposit Agreement; and

 

(x) shall not be liable for any delays
or failures in performance resulting from acts beyond its control including, without limitation, acts of God, terrorist acts, shortage
of supply, pandemics, epidemics, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data
due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil
unrest.

 

    	 	 -21-	 

     

    

 

The terms of this Section 5.3 shall survive
the replacement, removal or resignation of any Depositary, Registrar, Transfer Agent or Depositary’s Agent or termination
of this Deposit Agreement.

 

5.4            Resignation
and Removal of the Depositary; Appointment of Successor Depositary.

 

The Depositary may at any time resign as Depositary
hereunder by delivering notice of its election to do so to the Corporation, such resignation to take effect upon the appointment
of a successor Depositary and its acceptance of such appointment as hereinafter provided.

 

The Depositary may at any time be removed
by the Corporation by notice of such removal delivered to the Depositary, such removal to take effect upon the appointment of a
successor Depositary hereunder and its acceptance of such appointment as hereinafter provided.

 

In case at any time the Depositary
acting hereunder shall resign or be removed, the Corporation shall, within sixty (60) days after the delivery of the notice
of resignation or removal, as the case may be, appoint a successor Depositary, which shall be (i) a Person having its
principal office in the United States of America and having a combined capital and surplus, along with its Affiliates, of at
least $50,000,000 or (ii) an Affiliate of any such Person. If no successor Depositary shall have been so appointed and
have accepted appointment within sixty (60) days after delivery of such notice, the resigning or removed Depositary may, at
the Corporation’s expense, petition any court of competent jurisdiction for the appointment of a successor Depositary.
Every successor Depositary shall execute and deliver to its predecessor and to the Corporation an instrument in writing
accepting its appointment hereunder, and thereupon such successor Depositary, without any further act or deed, shall become
fully vested with all the rights, powers, duties and obligations of its predecessor and for all purposes shall be the
Depositary under this Deposit Agreement, and such predecessor, upon payment of all sums due it and on the written request of
the Corporation, shall promptly execute and deliver an instrument transferring to such successor all rights and powers of
such predecessor hereunder, shall duly assign, transfer and deliver all right, title and interest in the shares of the
Preferred Stock and any moneys or property held hereunder to such successor, and shall deliver to such successor a list of
the Record Holders of all outstanding Receipts and such records, books and other information in its possession relating
thereto. Any successor Depositary shall promptly mail or transmit by such other method approved by such successor Depositary,
in its reasonable discretion, notice of its appointment to the Record Holders of Receipts.

 

Any Person into or with which the Depositary
may be merged, consolidated or converted, or any Person to which all or a substantial part of the assets of the Depositary may
be transferred or which succeeds to the shareholder services business of the Depositary shall be the successor of the Depositary
without the execution or filing of any document or any further act, and notice thereof shall not be required hereunder. Such successor
Depositary may authenticate the Receipts in the name of the predecessor Depositary or its own name as successor Depositary.

 

    	 	 -22-	 

     

    

 

The removal or resignation of the Depositary
shall automatically be deemed to be a removal of the Depositary as Registrar and Transfer Agent herein without any further act
or deed.

  

5.5            Corporate
Notices and Reports.

 

The Corporation agrees that it will deliver
to the Depositary, and the Depositary will, promptly after receipt of all necessary information and documents, transmit to the
Record Holders of Receipts, in each case at the addresses recorded in the Depositary’s or Registrar’s books, copies
of all notices and reports (including without limitation financial statements) required by law, by the rules of any national
securities exchange upon which the Preferred Stock, the Depositary Shares or the Receipts are listed or by the Corporation’s
Amended and Restated Certificate of Incorporation (including the Certificate of Designations), to be furnished to the Record Holders
of Receipts. Such transmission will be at the Corporation’s expense and the Corporation will provide the Depositary with
such number of copies of such documents as the Depositary may reasonably request. In addition, the Depositary will transmit to
the Record Holders of Receipts at the Corporation’s expense such other documents as may be requested in writing by the Corporation.

 

5.6            Indemnification
by the Corporation.

 

Notwithstanding Section 5.3 to the contrary,
the Corporation shall indemnify the Depositary, any Depositary’s Agent, any Registrar and any Transfer Agent (including each
of their officers, directors, agents and employees) against, and hold each of them harmless from and against, any fee, loss, damage,
cost, penalty, fine, judgment, liability or expense (including the reasonable costs and expenses of its legal counsel) which may
arise out of actions taken, suffered or omitted to be taken in connection with its acting as Depositary, Depositary’s Agent,
Registrar or Transfer Agent, respectively, under this Deposit Agreement (including, without limitation, the enforcement by the
Depositary, Depositary’s Agent, Registrar or Transfer Agent, as the case may be, of this Deposit Agreement) and the Receipts
by the Depositary, any Transfer Agent, any Registrar or any of their respective agents (including any Depositary’s Agent),
except for any liability arising out of gross negligence, willful misconduct or bad faith (each as determined by a final non-appealable
judgment of a court of competent jurisdiction) on the respective parts of any such Person or Persons. The obligations of the Corporation
and the rights of the Depositary set forth in this Section 5.6 shall survive the termination of this Deposit Agreement and
any resignation, replacement, removal, or succession of any Depositary, Registrar, Transfer Agent or Depositary’s Agent.

 

    	 	 -23-	 

     

    

 

5.7            Fees,
Charges and Expenses.

 

The Corporation agrees promptly to pay the
Depositary the compensation, as separately agreed upon with the Corporation, in accordance with such agreed upon terms, for all
services rendered by the Depositary, Depositary’s Agent, Transfer Agent and Registrar hereunder and to reimburse the Depositary
for its reasonable out-of-pocket expenses (including reasonable counsel fees and expenses) incurred by the Depositary, Depositary’s
Agent, Transfer Agent and Registrar without gross negligence, willful misconduct, bad faith (each as determined by a final non-appealable
judgment of a court of competent jurisdiction) on its part in connection with the services rendered by it (or any agent of the
Depositary) hereunder. The Corporation shall pay all charges of the Depositary in connection with the initial deposit of shares
of the Preferred Stock and the initial issuance of the Depositary Shares, all withdrawals of shares of the Preferred Stock by owners
of Depositary Shares, and any redemption or exchange of shares of the Preferred Stock at the option of the Corporation. The Corporation
shall pay all transfer and other taxes and charges arising solely from the existence of the depositary arrangements. All other
transfer and other taxes and charges shall be at the expense of Holders of Depositary Shares evidenced by Receipts. If, at the
request of a Holder of Receipts, the Depositary incurs charges or expenses for which the Corporation is not otherwise liable hereunder,
such Holder will be liable for such charges and expenses; provided, however, that the Depositary may, at its sole
option, require a Holder of a Receipt to prepay the Depositary any charge or expense the Depositary has been asked to incur at
the request of such Holder of Receipts. The Depositary shall present its statement for charges and expenses to the Corporation
at such intervals as the Corporation and the Depositary may agree.

 

5.8            Tax
Compliance.

 

The Depositary, on its own behalf and on behalf
of the Corporation, will comply with all applicable certification, information reporting, and withholding (including “backup
withholding”) requirements imposed by applicable tax laws, regulations, or administrative practice with respect to (i) any
payments made with respect to the Depositary Shares or (ii) the issuance, delivery, holding, transfer, redemption, or exercise
of rights under the Receipts or the Depositary Shares. Such compliance shall include, without limitation, the preparation and timely
filing of required returns and the timely payment of all amounts required to be withheld to the appropriate taxing authority or
its designated agent. The Depositary shall comply with any direction received from the Corporation with respect to the application
of such requirements to particular payments or holders or in other particular circumstances and may, for purposes of this Deposit
Agreement, rely on any such direction in accordance with the provisions of Section 5.3 hereof. The Depositary shall maintain
all appropriate records documenting compliance with such requirements, and shall make such records available on request to the
Corporation or to its authorized representatives.

 

ARTICLE VI

Amendment and Termination

 

6.1            Amendment.

 

The form of the Receipts and any provisions
of this Deposit Agreement may at any time and from time to time be amended by agreement between the Corporation and the Depositary
in any respect which they may deem necessary or desirable; provided, however, that no such amendment (other than
any change in the fees of any Depositary, Registrar or Transfer Agent) which shall materially and adversely alter the rights of
the Holders of Receipts shall be effective against the Holders of Receipts unless such amendment shall have been approved by the
Holders of Receipts representing in the aggregate at least two-thirds of the Depositary Shares then outstanding. Every Holder of
an outstanding Receipt at the time any such amendment becomes effective shall be deemed, by continuing to hold such Receipt, to
consent and agree to such amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment
impair the right, subject to the provisions of Sections 2.5 and 2.6 and Article III, of any owner of Depositary Shares to
surrender any Receipt evidencing such Depositary Shares to the Depositary with instructions to deliver to the Holder the shares
of the Preferred Stock and all money and other property, if any, represented thereby, except in order to comply with mandatory
provisions of applicable law or the rules and regulations of any governmental body, agency or commission, or applicable securities
exchange. As a condition precedent to the Depositary’s execution of any amendment, the Corporation shall deliver to the Depositary
a certificate executed by a duly authorized officer of the Corporation that states that the proposed amendment is in compliance
with the terms of this Section 6.1.

 

    	 	 -24-	 

     

    

 

6.2            Termination.

 

This Deposit Agreement may be terminated
by the Corporation at any time upon not less than sixty (60) days prior written notice to the Depositary, in which case, at
least thirty (30) days prior to the date fixed in such notice for such termination, the Depositary will mail or otherwise
transmit notice of such termination to the record Holders of all Receipts then outstanding. If any Receipts shall remain
outstanding after the date of termination of this Deposit Agreement, the Depositary thereafter shall discontinue the transfer
of Receipts, shall suspend the distribution of dividends to the Holders of the Receipts thereof and shall not give any
further notices (other than notice of such termination) or perform any further acts under this Deposit Agreement, except that
the Depositary shall continue to collect dividends and other distributions pertaining to the Preferred Stock, and shall
continue to deliver the Preferred Stock and any money and other property, if any, represented by Receipts upon surrender
thereof by the Holders of Receipts thereof. At any time after the expiration of two years from the date of termination, as
may be instructed by the Corporation in writing, the Depositary shall (i) sell the shares of the Preferred Stock then
held hereunder at public or private sale, at such places and upon such terms as it deems proper and may thereafter hold the
net proceeds of any such sale, together with any money and other property held by it hereunder, without liability for
interest, for the benefit, pro rata in accordance with their holdings, of the Holders of Receipts that have not
theretofore been surrendered, or (ii) return such shares of Preferred Stock to the Corporation. After making such sale,
the Depositary shall be discharged from all obligations under this Deposit Agreement except to account for such net proceeds
and money and other property. The Depositary shall continue to receive its fees and expenses and shall continue to be
entitled to its protections set forth herein after termination of this Deposit Agreement so long as the Depositary continues
to provide services in connection with this Deposit Agreement. Nothing contained in this Section 6.2 shall impede the
Depositary’s right to resign under this Deposit Agreement.

 

Subject to the first paragraph of this Section 6.2,
this Deposit Agreement may be terminated by the Corporation or the Depositary only if (i) all outstanding Depositary Shares
have been redeemed pursuant to Section 2.8; (ii) there shall have been made a final distribution in respect of the Preferred
Stock in connection with any liquidation, dissolution or winding up of the Corporation and such distribution shall have been distributed
to the Holders of Receipts representing Depositary Shares pursuant to Section 4.1 or 4.2, as applicable; or (iii) upon
the consent of Holders of Receipts representing in the aggregate not less than two-thirds of the Depositary Shares outstanding.

 

    	 	 -25-	 

     

    

 

Upon the termination of this Deposit Agreement,
the Corporation shall be discharged from all obligations under this Deposit Agreement except for its obligations to the Depositary,
any Depositary’s Agent, any Transfer Agent and any Registrar under Sections 5.3, 5.6 and 5.7 (including as to any services
of the Depositary, any Depositary’s Agent and any Registrar that are necessary following and in connection with the termination
of this Deposit Agreement); provided further that Sections 5.3, 5.6 and 5.7 shall survive the termination of this Deposit
Agreement.

 

ARTICLE VII

Miscellaneous

 

7.1            Counterparts.

 

This Deposit Agreement may be executed in
any number of counterparts, and by each of the parties hereto on separate counterparts, each of which counterparts, when so executed
and delivered, shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument.
Delivery of an executed counterpart of a signature page to this Deposit Agreement by facsimile, pdf or electronic mail (including
any signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signature and
Records Act or other applicable law, e.g., www.docusign.com) shall be effective as delivery of a manually executed counterpart
of this Deposit Agreement.

 

7.2            Exclusive
Benefit of Parties.

 

This Deposit Agreement is for the exclusive
benefit of the parties hereto, and their respective successors hereunder, and shall not be deemed to give any legal or equitable
right, remedy or claim to any other Person whatsoever.

 

7.3            Invalidity
of Provisions.

 

In case any one or more of the provisions
contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be affected, prejudiced
or disturbed thereby; provided, however, that if any such provision adversely affects the rights, duties, liabilities or obligations
of the Depositary, the Depositary shall be entitled to resign immediately upon written notice to the Corporation.

 

7.4            Notices.

 

Any and all notices to be given to the Corporation
hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or sent
by mail or recognized next day courier service or by electronic mail, confirmed by letter, addressed to the Corporation at:

 

First Midwest Bancorp, Inc.

8750 West Bryn Mawr Avenue, Suite 1300

Chicago, IL 60631

 

    	 	 -26-	 

     

    

 

Attention: Corporate Secretary

Email: Steven.Babinski@firstmidwest.com

 

with a copy to:

 

Sullivan & Cromwell
LLP

125 Broad Street

New York, NY 10004

	 	Attention:	 Mark Menting
	 	 	 Cathy Clarkin

 

Facsimile: (212) 558-4000

	 	Email:	mentingm@sullcrom.com
	 	 	clarkinc@sullcrom.com

 

or at any other addresses of which the Corporation shall have
notified the Depositary in writing.

 

Any and all notices to be given to the Depositary
hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or sent
by mail or recognized next day courier service or by facsimile transmission or electronic mail, confirmed by letter, addressed
to the Depositary at the Depositary’s Office at:

 

Computershare Inc.

Computershare Trust Company, N.A.,

150 Royall Street,

 

Canton, Massachusetts 02021

Attention: Corporate Actions

Facsimile No.: (781) 575-3146

 

With a copy to:

 

Computershare Inc.

Computershare Trust Company, N.A.,

150 Royall Street,

 

Canton, Massachusetts 02021

Attention: General Counsel

Facsimile No.: (781) 575-4210

 

or at any other address of which the Depositary shall have notified
the Corporation in writing.

 

Any and all notices to be given to any Record
Holder of a Receipt hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given if personally
delivered or sent by mail, recognized next day courier services, facsimile transmission or electronic mail, confirmed by letter,
addressed to such Record Holder at the address of such Record Holder as it appears on the books of the Depositary; or if such Holder
shall have timely filed with the Depositary a written request that notices intended for such Holder be mailed to some other address,
at the address designated in such request; or in the case of any Global Receipt Depository, in accordance with its applicable procedures
and arrangements for notices.

 

    	 	 -27-	 

     

    

 

Delivery of a notice sent by mail or as
provided in this Section 7.4 shall be deemed to be effected at the time when a duly addressed letter containing the same
(or a confirmation thereof in the case of a facsimile transmission or electronic mail) is deposited, postage prepaid, in a
post office letter box; provided, that notice to a Global Receipt Depository shall be deemed to be effected at the
time such notice is delivered or made as provided in this Section 7.4; provided, further, that the
Depositary or the Corporation may, however, act upon any facsimile transmission or electronic mail received by it from the
other or from any Holder of a Receipt, notwithstanding that such facsimile transmission or electronic mail shall not
subsequently be confirmed by letter or as aforesaid.

 

7.5            Depositary’s
Agents.

 

The Depositary may from time to time appoint
Depositary’s Agents to act in any respect for the Depositary for the purposes of this Deposit Agreement and may at any time
appoint additional Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The Depositary
will promptly notify the Corporation of any such action.

 

7.6            Appointment
of Registrar, Dividend Disbursing Agent and Redemption Agent in Respect of the Preferred Stock.

 

The Corporation hereby appoints the Trust
Company and Computershare, acting jointly, as Registrar, Transfer Agent, dividend disbursing agent and redemption agent in respect
of the Receipts and shares of the Preferred Stock deposited with the Depositary hereunder, and the Trust Company and Computershare
hereby accept their respective appointments, subject to the express terms and conditions of this Deposit Agreement (and no implied
terms or conditions) and, as such, will reflect changes in the number of shares of deposited Preferred Stock held by it by notation,
book-entry or other appropriate method. With respect to the appointments of Trust Company and Computershare as Registrar, Transfer
Agent, dividend disbursing agent and redemption agent in respect of the Receipts and shares of the Preferred Stock deposited with
the Depositary hereunder, Trust Company and Computershare shall be entitled to the same rights, indemnities, immunities and benefits
as the Depositary hereunder as if explicitly named in each such provision.

 

7.7            Holders
of Receipts are Parties.

 

The Holders of Receipts from time to time
shall be parties to this Deposit Agreement and shall be bound by all of the terms and conditions hereof and of the Receipts by
acceptance of delivery thereof.

 

7.8            Governing
Law.

 

This Deposit Agreement and the Receipts and
all rights hereunder and thereunder and provisions hereof and thereof shall be governed by, and construed in accordance with, the
laws of the State of New York without giving effect to applicable conflicts of law principles.

 

    	 	 -28-	 

     

    

 

7.9            Inspection
of Deposit Agreement.

 

Copies of this Deposit Agreement shall be
filed with the Depositary and the Depositary’s Agents and shall be made available for inspection during business hours upon
reasonable notice to the Depositary by any Holder of a Receipt.

 

7.10            Headings.

 

The headings of articles and sections in this
Deposit Agreement and in the form of the Receipt set forth in Exhibit A hereto have been inserted for convenience only
and are not to be regarded as a part of this Deposit Agreement or the Receipts or to have any bearing upon the meaning or interpretation
of any provision contained herein or in the Receipts.

 

7.11            Confidentiality.

 

The Depositary and the Corporation agree that
all books, records, information and data pertaining to the business of the other party, including, inter alia, personal,
non-public Holder information, and the fees for services, which are exchanged or received pursuant to the negotiation or the carrying
out of this Deposit Agreement, shall remain confidential, and shall not be voluntarily disclosed to any other Person, except as
may be required by law or legal process. However, each party may disclose relevant aspects of the other party’s confidential
information to its officers, affiliates, agents, subcontractors and employees to the extent reasonably necessary to perform its
duties and obligations under this Deposit Agreement and such disclosure is not prohibited by applicable law. To avoid doubt, the
parties hereto shall not be required to keep the terms of this Deposit Agreement confidential.

 

7.12            Further
Assurances.

 

The Corporation shall perform, acknowledge
and deliver or cause to be performed, acknowledged and delivered all such further and other acts, documents, instruments and assurances
as may be reasonably required by the Depositary for the carrying out or performing by the Depositary of the provisions of this
Deposit Agreement.

 

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

 

    	 	 -29-	 

     

    

 

IN WITNESS WHEREOF, the Corporation and the
Depositary have duly executed this Deposit Agreement as of the day and year first above set forth, and all Holders of Receipts
shall become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof.

 

	 	FIRST MIDWEST BANCORP, INC.
	 	 
	 	By	/s/ Nicholas J. Chulos
	 	 	Name:	Nicholas J. Chulos
	 	 	Title:	Executive Vice President, General Counsel and Corporate Secretary

 

	 	COMPUTERSHARE INC. and COMPUTERSHARE TRUST COMPANY, N.A., jointly as Depositary and as Transfer Agent and Registrar
	 	 
	 	By	/s/ John H. Ruocco
	 	 	Name:	John H. Ruocco
	 	 	Title:	VP & Manager

 

[Signature page to Deposit Agreement]

 

    	

     

    

 

EXHIBIT A:

 

FORM OF RECEIPT

 

[FORM OF FACE OF RECEIPT]

 

Unless this receipt is presented by an authorized representative
of The Depository Trust Company, a New York corporation (“DTC”), to First Midwest Bancorp, Inc. or its agent for
registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or
in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to
such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

 

DEPOSITARY SHARES

 

DEPOSITARY RECEIPT FOR            DEPOSITARY SHARES,
 EACH REPRESENTING A
1/40TH INTEREST IN ONE SHARE OF
 FIXED RATE NON-CUMULATIVE PERPETUAL
 PREFERRED STOCK, SERIES A

 

OF

 

FIRST MIDWEST BANCORP, INC.

INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

 

CUSIP 320867 203

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

Computershare, Inc. and
Computershare Trust Company, N.A., jointly as Depositary (collectively, the “Depositary”) hereby certify
that Cede & Co. is the registered owner of DEPOSITARY SHARES (“Depositary Shares”), each
Depositary Share representing a 1/40th interest in one share of Fixed Rate Non-Cumulative Perpetual Preferred Stock,
Series A, without par value, liquidation preference $1,000 per share (the “Preferred Stock”), of
First Midwest Bancorp, Inc., a Delaware corporation (the “Corporation”), on deposit with the
Depositary, subject to the terms and entitled to the benefits of the Deposit Agreement dated May 20, 2020 (the
 “Deposit Agreement”), among the Corporation, the Depositary and the holders from time to time of the
Depositary Receipts. By accepting this Depositary Receipt, the holder hereof becomes a party to and agrees to be bound by all
the terms and conditions of the Deposit Agreement. This Depositary Receipt shall not be valid or obligatory for any purpose
or entitled to any benefits under the Deposit Agreement unless it shall have been executed by the Depositary by the manual or
facsimile signature of a duly authorized officer and, if a Registrar for the Receipts (other than the Depositary) shall have
been appointed, countersigned by such Registrar in respect of the Depositary Receipts by the manual or facsimile signature of
a duly authorized officer thereof.

 

    	 	 A-1 	 

     

    

 

Dated: ___________________, 20

 

	COMPUTERSHARE INC. and

 COMPUTERSHARE TRUST

 COMPANY, as Depositary
	 
	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	 A-2 	 

     

    

 

[FORM OF REVERSE OF RECEIPT]

 

FIRST MIDWEST BANCORP, INC.

 

FIRST MIDWEST BANCORP, INC. WILL FURNISH
WITHOUT CHARGE TO EACH RECEIPTHOLDER WHO SO REQUESTS A COPY OF THE DEPOSIT AGREEMENT AND A COPY OR SUMMARY OF THE CERTIFICATE OF
DESIGNATIONS OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A, OF FIRST MIDWEST BANCORP, INC. ANY SUCH REQUEST
IS TO BE ADDRESSED TO THE DEPOSITARY NAMED ON THE FACE OF THIS RECEIPT.

 

The Corporation will furnish without charge
to each receiptholder who so requests the powers, designations, preferences and relative, participating, optional or other special
rights of each class of stock or series thereof of the Corporation, and the qualifications, limitations or restrictions of such
preferences and/or rights. Such request may be made to the Corporation or to the Transfer Agent.

 

EXPLANATION OF ABBREVIATIONS

 

The following abbreviations when used in the
form of ownership on the face of this certificate shall be construed as though they were written out in full according to applicable
laws or regulations. Abbreviations in addition to those appearing below may be used.

 

	Abbreviation	Equivalent Phrase	Abbreviation	Equivalent Phrase
	JT TEN	As joint tenants, with right of survivorship and not as tenants in common	TEN BY ENT	As tenants by the entireties
	TEN IN COM	As tenants in common	UNIF GIFT MIN ACT	Uniform Gifts to Minors Act

 

	Abbreviation	Equivalent Word	Abbreviation	Equivalent Word	Abbreviation	Equivalent Word
	ADM	Administrator(s), Administratrix	EX	Executor(s), Executrix	PAR	Paragraph
	AGMT	Agreement	FBO	For the benefit of	PL	Public law
	ART	Article	FDN	Foundation	TR	(As) trustee(s), for, of
	CH	Chapter	GDN	Guardian	U	Under
	CUST	Custodian for	GDNSHP	Guardianship	UA	Under agreement

	DEC	Declaration	MIN	Minor	UW	Under will of, Of will of, Under last will & testament
	EST	Estate, of Estate of	 	 	 	 

 

    	 	 A-3 	 

     

    

 

Assignment

 

For value received, ___________________________hereby
sell(s), assign(s) and transfers(s) unto

 

__________________________________________________________________

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

__________________________________________________________________

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL CODE, OF ASSIGNEE

 

Depositary Shares represented by the within Receipt, and do(es)
hereby irrevocably constitute and appoint _____________________________________________ Attorney to transfer the said Depositary
Shares on the books of the within named Depositary with full power of substitution in the premises.

 

Dated :____________________________

 

NOTICE: The signature to the assignment must correspond
with the name as written upon the face of this Receipt in every particular, without alteration or enlargement or any change whatsoever.

 

SIGNATURE GUARANTEED

 

NOTICE: The signature(s) should be guaranteed by an eligible
guarantor institution (banks, stockbrokers, savings and loan associations, and credit unions with membership in an approved signature
guarantee medallion

 

program), pursuant to Rule 17Ad-15 under the Securities
Exchange Act of 1934.

 

    	 	 A-4

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