Document:

Deposit Agreement

Table of Contents

 Exhibit 4.3 
 DEPOSIT AGREEMENT 
 between 

BB&T CORPORATION 
 and 
 COMPUTERSHARE TRUST COMPANY, N.A. 

and 

COMPUTERSHARE INC., 
 jointly as Depositary 
 Dated as of July 31, 2012 

Table of Contents

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE I
 DEFINED TERMS
	  			
		
	 Section 1.1. Definitions
	  	 	1	  
	 ARTICLE II
 FORM OF RECEIPTS, DEPOSIT OF SERIES E PREFERRED STOCK, EXECUTION AND
 DELIVERY,
TRANSFER, SURRENDER AND REDEMPTION OF RECEIPTS
	  			
		
	 Section 2.1. Form and Transfer of Receipts
	  	 	3	  
	 Section 2.2. Deposit of Series E Preferred Stock; Execution and Delivery of Receipts in Respect
Thereof
	  	 	4	  
	 Section 2.3. Registration of Transfer of Receipts
	  	 	5	  
	 Section 2.4. Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Series E Preferred
Stock
	  	 	5	  
	 Section 2.5. Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts
	  	 	6	  
	 Section 2.6. Lost Receipts, etc
	  	 	6	  
	 Section 2.7. Cancellation and Destruction of Surrendered Receipts
	  	 	7	  
	 Section 2.8. Redemption of Series E Preferred Stock
	  	 	7	  
	 ARTICLE III
 CERTAIN OBLIGATIONS OF
 HOLDERS OF RECEIPTS AND THE CORPORATION
	  			
		
	 Section 3.1. Filing Proofs, Articles of Amendments and Other Information
	  	 	8	  
	 Section 3.2. Payment of Taxes or Other Governmental Charges
	  	 	8	  
	 Section 3.3. Warranty as to Series E Preferred Stock
	  	 	9	  
	 Section 3.4. Warranty as to Receipts
	  	 	9	  
	 ARTICLE IV
 THE DEPOSITED SECURITIES; NOTICES
	  			
		
	 Section 4.1. Cash Distributions
	  	 	9	  
	 Section 4.2. Distributions Other than Cash, Rights, Preferences or Privileges
	  	 	10	  
	 Section 4.3. Subscription Rights, Preferences or Privileges
	  	 	10	  
	 Section 4.4. Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts
	  	 	11	  
	 Section 4.5. Voting Rights
	  	 	11	  
	 Section 4.6. Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc
	  	 	12	  
	 Section 4.7. Delivery of Reports
	  	 	13	  
	 Section 4.8. Lists of Receipt Holders
	  	 	13	  

  
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	 ARTICLE V
 THE DEPOSITARY, THE DEPOSITARY’S
 AGENTS, THE REGISTRAR AND THE
CORPORATION
	  			
		
	 Section 5.1. Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar
	  	 	13	  
	 Section 5.2. Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the
Corporation
	  	 	14	  
	 Section 5.3. Obligations of the Depositary, the Depositary’s Agents, the Registrar and the
Corporation
	  	 	14	  
	 Section 5.4. Resignation and Removal of the Depositary; Appointment of Successor Depositary
	  	 	15	  
	 Section 5.5. Corporate Notices and Reports
	  	 	16	  
	 Section 5.6. Indemnification by the Corporation
	  	 	17	  
	 Section 5.7. Fees, Charges and Expenses
	  	 	17	  
	 ARTICLE VI
 AMENDMENT AND TERMINATION
	  			
		
	 Section 6.1. Amendment
	  	 	17	  
	 Section 6.2. Termination
	  	 	18	  
	 ARTICLE VII
 MISCELLANEOUS
	  			
		
	 Section 7.1. Counterparts
	  	 	18	  
	 Section 7.2. Exclusive Benefit of Parties
	  	 	18	  
	 Section 7.3. Invalidity of Provisions
	  	 	19	  
	 Section 7.4. Notices
	  	 	19	  
	 Section 7.5. Depositary’s Agents
	  	 	20	  
	 Section 7.6. Appointment of Registrar, Dividend Disbursing Agent and Redemption Agent in Respect of the Series E
Preferred Stock
	  	 	20	  
	 Section 7.7. Governing Law
	  	 	20	  
	 Section 7.8. Inspection of Deposit Agreement
	  	 	20	  
	 Section 7.9. Headings
	  	 	20	  
	 Section 7.10. Confidentiality
	  	 	20	  
		
	 Exhibit A Form of Receipt
	  	 	A- 1	  
	 Exhibit B Form of Officer’s Certificate
	  	 	B- 1	  

  
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 DEPOSIT AGREEMENT 

DEPOSIT AGREEMENT dated as of July 31, 2012, between (i) BB&T CORPORATION, a North Carolina corporation, on the one hand,
and (ii) COMPUTERSHARE INC., a Delaware Corporation (“Computershare”), and its wholly-owned subsidiary, COMPUTERSHARE TRUST COMPANY, N.A., a federally chartered trust company and national banking association (the “Trust
Company”), jointly as Depositary (as hereinafter defined), on the other hand. 
 WHEREAS, Corporation desires to appoint
Trust Company and Computershare jointly as Depositary, and Computershare as processor of all payments received or made by Corporation under the Deposit Agreement; 
 WHEREAS, Trust Company and Computershare desire to accept such respective appointments and perform the services related to such appointments; 

WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of Series E 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 the Series E Preferred Stock so deposited; and

 WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed 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 
 Section 1.1. Definitions. 
 The following definitions shall for all
purposes, unless otherwise indicated, apply to the respective terms used in this Deposit Agreement: 
 “Articles of
Amendment” shall mean the relevant Articles of Amendment filed with the Secretary of State of the State of North Carolina establishing the Series E Preferred Stock as a series of preferred stock of the Corporation. 

“Corporation” shall mean BB&T Corporation, a North Carolina corporation, and its successors. 

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

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 “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-one thousandth of one share of the Series E Preferred Stock, 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 principal office of the Depositary in Canton, Massachusetts, at which at any particular time its depositary receipt business shall be administered. 
 “Officer’s Certificate” means a certificate in substantially the form set forth as Exhibit B hereto, which is signed by an officer of the Corporation and which shall include the terms and
conditions of the Series E Preferred Stock to be issued by the Corporation and deposited with the Depositary from time to time in accordance with the terms hereof. 
 “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 the Series E 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. 
 “Registrar” shall mean the Depositary or such other
successor bank or trust company which shall be appointed by the Corporation to register ownership and transfers of Receipts 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. 

“Series E Preferred Stock” shall mean the shares of the Corporation’s Series E Non-Cumulative Perpetual Preferred Stock,
$5.00 par value, with a liquidation preference of $25,000 per share, designated in the Articles of Amendment and described in the Officer’s Certificate delivered pursuant to Section 2.2 hereof. 

“Underwriting Agreement” shall mean that certain Underwriting Agreement dated as of July 24, 2012, between the Corporation
and Merrill Lynch, Pierce, Fenner & Smith Incorporated, BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, and Wells Fargo
Securities, LLC, as representatives of the several underwriters named in Schedule II thereto. 

  
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 ARTICLE II 
 FORM OF RECEIPTS, DEPOSIT OF SERIES E PREFERRED STOCK, EXECUTION 
 AND
DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF RECEIPTS 
 Section 2.1. Form and Transfer of
Receipts. 
 The definitive Receipts shall be substantially in the form set forth in Exhibit A annexed to this
Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided and shall be engraved or otherwise prepared so as to comply with applicable rules of the New York Stock Exchange, Inc. Pending the preparation of definitive
Receipts, the Depositary, upon the written order of the Corporation, delivered in compliance with Section 2.2, 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 an office described in the penultimate paragraph of Section 2.2, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Receipts, the
Depositary 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. 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 Agreement as definitive Receipts. 

Receipts shall be executed by the Depositary 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. 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. 

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 Series E 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 Receipts are subject.

 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 with the same effect as in the case of a negotiable instrument; provided, however, that until transfer of 

  
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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.

 Section 2.2. Deposit of Series E 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 Series E Preferred Stock under this Deposit Agreement by delivery to the Depositary of a certificate or certificates for such shares of Series E Preferred Stock to be deposited, properly endorsed or accompanied, if required by the
Depositary, by a duly executed instrument of transfer or endorsement, in form satisfactory to the Depositary, together with all such certifications as may be required by the Depositary in accordance with the provisions of this Deposit Agreement and
an executed Officer’s Certificate attaching the Articles of Amendment and all other information required to be set forth therein, and together with a written order of the Corporation directing the Depositary to 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 Series E Preferred Stock. Each Officer’s Certificate delivered to the
Depositary in accordance with the terms of this Deposit Agreement shall be deemed to be incorporated into this Deposit Agreement and shall be binding on the Corporation, the Depositary and the Holders of Receipts to which such Officer’s
Certificate relates. 
 The Series E Preferred Stock that is deposited 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 Series E Preferred Stock deposited hereunder. 
 Upon receipt by the Depositary of a certificate or certificates for Series E Preferred Stock deposited in accordance with the provisions of this Section, together with the other documents required as
above specified, and upon recordation of the Series E 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, a Receipt or Receipts evidencing in the aggregate
the number of Depositary Shares representing the Series E 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. 

The Company shall cause to be provided an opinion of counsel prior to the date hereof to set up reserve of Depositary Shares and related
to the Series E Preferred Stock. The opinion shall state that: (1) the Depositary Shares and the Series E Preferred Stock have been registered under the Securities Act; and (2) when the Series E Preferred

  
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Stock is issued and delivered against payment therefor as provided in the Underwriting Agreement, will be duly and validly issued and fully paid and non-assessable. 

Section 2.3. Registration of Transfer of Receipts. 

Subject to the terms and conditions of this Deposit Agreement, the Depositary 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. 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. 

Section 2.4. Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Series E 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 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. 
 Any Holder of a Receipt or Receipts may withdraw the number of whole shares of Series E 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. Thereafter, without unreasonable delay, 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 Series E 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 Series E Preferred Stock will not thereafter be entitled to deposit such Series E Preferred Stock hereunder or to receive a Receipt evidencing Depositary Shares therefor. 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 Series E Preferred Stock,
Depositary shall at the same time, in addition to such number of whole shares of Series E 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. 
 In no event will fractional shares of Series E Preferred Stock
(or any cash payment in lieu thereof) be delivered by the Depositary. Delivery of the Series E 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 the Series E 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 Series E Preferred Stock, such

  
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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 Series E Preferred Stock be properly endorsed in blank or accompanied by a properly executed instrument of transfer in blank. 
 Delivery of the Series E 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. 

Section 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 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 or expenses payable by the Holder of a Receipt pursuant to Section 5.7, may require the production of evidence satisfactory to it as to the identity and genuineness of any signature (which evidence may
include a signature guarantee from an eligible guarantor institution participating in a signature guarantee program approved by the Securities Transfer Association), and any other reasonable evidence of authority that may be required by the
Depositary, and may also require compliance with such regulations, if any, as the Depositary or the Corporation may establish consistent with the provisions of this Deposit Agreement and/or applicable law. 

The deposit of the Series E Preferred Stock may be refused, the delivery of Receipts against Series E 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. 
 Section 2.6. Lost Receipts, etc.

 In case any Receipt shall be mutilated, destroyed, lost or stolen, the Depositary in its discretion may 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, 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 of the Depositary with an affidavit and an
indemnity or bond reasonably satisfactory to the Depositary. Such Holder shall also comply with such other reasonable regulations and pay such other 

  
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reasonable charges as the Depositary may prescribe and as required by Section 8-405 of the Uniform Commercial Code in effect in the State of New York. 

Section 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. 

Section 2.8. Redemption of Series E Preferred Stock. 

Whenever the Corporation shall be permitted and shall elect to redeem shares of Series E Preferred Stock in accordance with the terms of
the Articles of Amendment, it shall (unless otherwise agreed to in writing with the Depositary) give or cause to be given to the Depositary, not less than 30 days and not more than 60 days prior to the Redemption Date (as defined below), notice of
the date of such proposed redemption of Series E 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 Series E Preferred Stock is in accordance with the provisions of the Articles of Amendment. On the date of such redemption, provided that the Corporation shall then have paid or caused to be paid in full to the
Depositary the Redemption Price (as such term is defined in the Articles of Amendment) of the Series E Preferred Stock to be redeemed, in accordance with the provisions of the Articles of Amendment, the Depositary shall redeem the number of
Depositary Shares representing such Series E Preferred Stock. Notice of the Corporation’s redemption of Series E Preferred Stock and the proposed simultaneous redemption of the number of Depositary Shares representing the Series E Preferred
Stock to be redeemed shall be (1) mailed by first-class mail, postage prepaid, at the respective last addresses as they appear on the records of the Depositary, or (2) transmitted by such other method approved by the Depositary, in its
reasonable discretion, in either case not less than 30 days and not more than 60 days prior to the date fixed for redemption of such Series E Preferred Stock and Depositary Shares (the “Redemption Date”), to the Record Holders of the
Receipts evidencing the Depositary Shares to be so redeemed; 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 Series E 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 Board of Directors of the
Corporation or any duly authorized committee of the Board of Directors of the Corporation may determine to be fair and equitable. 

  
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 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 the Series E Preferred Stock evidenced by the Depositary Shares called for redemption) (i) dividends on the shares of Series E 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-one thousandth of the Redemption Price (as such term is defined in the Articles of Amendment) per share of Series E 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 Series E Preferred Stock to be so redeemed and have not theretofore been paid. 

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. 

ARTICLE III 

CERTAIN OBLIGATIONS OF 
 HOLDERS OF RECEIPTS AND THE CORPORATION 
 Section
3.1. Filing Proofs, Articles of Amendments 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 the withdrawal of the Series E 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. 

Section 3.2. Payment of Taxes or Other Governmental Charges. 

Holders of Receipts shall be obligated to make payments to the Depositary of certain charges and expenses, as provided in
Section 5.7. Registration of transfer of any Receipt or any withdrawal of Series E 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 the Series E 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 

  
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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, the Holder of such Receipt remaining liable for any deficiency. 

Section 3.3. Warranty as to Series E Preferred Stock. 

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

Section 3.4. Warranty as to Receipts. 

The Corporation hereby represents and warrants that the Receipts, when issued, will represent legal and valid interests in the Series E
Preferred Stock. Such representation and warranty shall survive the deposit of the Series E Preferred Stock and the issuance of the Receipts. 
 ARTICLE IV 
 THE DEPOSITED SECURITIES; NOTICES 

Section 4.1. Cash Distributions. 
 Whenever Computershare shall receive any cash dividend or other cash distribution on the Series E Preferred Stock, Computershare 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 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 Series E 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, 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 Computershare with its certified tax identification number on a properly completed Form W-8 or W-9, 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 Computershare of a portion of any of the distributions to
be made hereunder. 
 The Corporation acknowledges that the bank accounts maintained by Computershare in connection with the
services provided under this Agreement will be in Computershare’s name and that Computershare may receive investment earnings in connection with the investment at Computershare’s risk and for its benefit of funds held in those accounts
from time to time. Neither the Corporation nor the record holders will receive interest on any deposits or funds held by Computershare hereunder. 

  
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 Section 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 Series E 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 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) 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 the Depositary 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. 
 Section 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 the Series E 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 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
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to Sections 3.1 and 3.2, be distributed by the Depositary to the Record Holders of Receipts entitled thereto as provided by Section 4.1 in the case of a distribution received in cash.

 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
the offering and sale of such securities to the Holders are exempt from registration under the provisions of the Securities Act. 
 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. 

Section 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 Series E Preferred Stock, or whenever the Depositary shall receive notice of any meeting at which holders of the Series E Preferred Stock are entitled to vote or of
which holders of the Series E 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 Series E 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. 

Section 4.5. Voting Rights. 
 Subject to the provisions of the Articles of Amendment, upon receipt of notice of any meeting at which the holders of the Series E Preferred Stock are entitled to vote, the Depositary shall, 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 a notice prepared 

  
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by the Corporation which shall contain (i) such information as is contained in such notice of meeting and (ii) a statement that the Holders may, subject to any applicable restrictions,
instruct the Depositary as to the exercise of the voting rights pertaining to the amount of Series E 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 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 Series E 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 Series E Preferred Stock
or cause such Series E Preferred Stock to be voted. In the absence of specific instructions from Holders of Receipts, the Depositary will vote the Series E Preferred Stock represented by the Depositary Shares evidenced by the Receipts of such
Holders proportionately with votes cast pursuant to instructions received from the other Holders. 

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

 Upon any change in par or stated value, split-up, combination or any other reclassification of the Series E Preferred
Stock, subject to the provisions of the Articles of Amendment, or upon any recapitalization, reorganization, merger or consolidation affecting the Corporation or to which it is a party, the Corporation may, in its discretion and with the
acknowledgement of the Depositary, (i) make such adjustments as are certified by the Corporation in the fraction of an interest represented by one Depositary Share in one share of Series E Preferred Stock and in the ratio of the redemption
price per Depositary Share to the Redemption Price (as such term is defined in the Articles of Amendment) per share of Series E Preferred Stock, in each case as may be necessary fully to reflect the effects of such change in par or stated value,
split-up, combination or other reclassification of the Series E Preferred Stock, or of such recapitalization, reorganization, merger or consolidation and (ii) treat any securities which shall be received by the Depositary in exchange for or
upon conversion of or in respect of the Series E Preferred Stock as new deposited securities so received in exchange for or upon conversion or in respect of such Series E Preferred Stock. In any such case, the Corporation may, in its discretion and
with the acknowledgement of the Depositary, 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. Anything to the
contrary herein notwithstanding, Holders of Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Series E 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 Series E 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 Series E Preferred Stock represented by such Receipts might have been converted or for which such Series E Preferred Stock might have been exchanged or surrendered
immediately prior to the effective date of such transaction. 

  
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 Section 4.7. Delivery of Reports. 

The Depositary shall furnish to Holders of Receipts any reports and communications received from the Corporation which is received by the
Depositary and which the Corporation is required to furnish to the holders of the Series E Preferred Stock. 

Section 4.8. Lists of Receipt Holders. 

Reasonably promptly upon request from time to time by the Corporation, at the sole expense of the Corporation, the Depositary 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 
 Section 5.1. Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar. 
 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. 

The Depositary shall keep books at the Depositary’s Office for the registration and registration of transfer of Receipts, which
books at all reasonable times shall be made available for inspection by the Record Holders of Receipts; provided that any such Holder requesting to exercise such right shall certify to the Depositary 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 may close such books, at any time or from time to time, when deemed expedient by it in connection with the performance of its duties hereunder. 
 The Corporation may appoint a Registrar for registration of the Receipts or the Depositary Shares evidenced thereby. If the Receipts or the Depositary Shares evidenced thereby or the Series E Preferred
Stock represented by such Depositary Shares shall be listed on one or more national securities exchanges, the Corporation will appoint a Registrar 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 Corporation. If the Receipts, Depositary Shares or Series E Preferred Stock
are listed on one or more other securities exchanges, the Depositary will, at the request of the Corporation, arrange such facilities for the delivery, registration, registration of transfer, surrender and exchange of the Receipts, Depositary Shares
or Series E Preferred Stock as may be required by law or applicable securities exchange regulation. 

  
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 Section 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 the Corporation shall incur any liability to any Holder of Receipt 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, by reason of any provision, present or future, of the Corporation’s Restated Articles of Incorporation, as amended (including the Articles of Amendment)
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 or the Corporation 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 or the Corporation incur liability to any Holder of a
Receipt (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. 
 Section 5.3. Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Corporation. 
 Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Corporation assumes any obligation or shall be subject to any liability under this Deposit Agreement to Holders of Receipts
other than for its negligence, willful misconduct, bad faith or fraud. Notwithstanding anything in this Agreement to the contrary, neither the Depositary, nor the Depositary’s Agent nor any Registrar nor the Corporation 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). Notwithstanding anything contained herein to the contrary, the Depositary’s aggregate
liability during any term of this Agreement with respect to, arising from, or arising in connection with this Agreement, or from all Services provided or omitted to be provided under this Agreement, whether in contract, or in tort, or otherwise, is
limited to, and shall not exceed, the amounts paid hereunder by the Corporation to Depositary as fees and charges, but not including reimbursable expenses; provided, however, that the limitation of liability set forth in this sentence shall
not apply to any act or omission of the Depositary constituting recklessness, willful misconduct, bad faith, or fraud. 

Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Corporation shall be under any obligation to appear in,
prosecute or defend any action, suit or other proceeding in respect of the Series E 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 the Corporation 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 Series E Preferred Stock for deposit, any
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faith to be competent to give such information. The Depositary, any Depositary’s Agent, any Registrar and the Corporation may each rely and shall each be protected in acting upon or omitting
to act upon any written notice, request, direction or other document believed by it to be genuine and to have been signed or presented by the proper party or parties. 
 The Depositary shall not be responsible for any failure to carry out any instruction to vote any of the shares of Series E 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. The Depositary undertakes, and any Registrar shall be required to undertake, to perform such duties and only such duties as are specifically set forth in this Agreement, and no implied covenants
or obligations shall be read into this Agreement against the Depositary or any Registrar. 
 The Depositary, the
Depositary’s Agents, and any Registrar may own and deal in any class of securities of the Corporation and its affiliates and in Receipts. The Depositary may also act as transfer agent or registrar of any of the securities of the Corporation and
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 Agreement or of the Receipts, the Depositary Shares or the Series E 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 believes any ambiguity or uncertainty exists hereunder or in any notice, instruction, direction, request or
other communication, paper or document received by the Depositary hereunder, or in the administration of any of the provisions of this Agreement, the Depositary 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 may, in its sole discretion upon written notice to the Corporation, refrain from taking any action and 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 receives written instructions or a certificate signed by the Corporation which eliminates such ambiguity or uncertainty
to the satisfaction of the Depositary or which proves or establishes the applicable matter to the satisfaction of the Depositary. 
 Section 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. 

  
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 In case at any time the Depositary acting hereunder shall resign or be removed, the
Corporation shall, within 60 days after the delivery of the notice of resignation or removal, as the case may be, appoint a successor Depositary, which shall be a bank or trust company having its principal office in the United States of America and
having a combined capital and surplus, including with its affiliates, of at least $50,000,000. If no successor Depositary shall have been so appointed and have accepted appointment within 60 days after delivery of such notice, the resigning or
removed Depositary may 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 Series E 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 entity into or with which the Depositary may be merged,
consolidated or converted 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. 
 Section 5.5. Corporate
Notices and Reports. 
 The Corporation agrees that it will deliver to the Depositary, and the Depositary will, promptly
after receipt thereof, transmit to the Record Holders of Receipts, in each case at the addresses recorded in the Depositary’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 Series E Preferred Stock, the Depositary Shares or the Receipts are listed or by the Corporation’s Restated Articles of Incorporation, as amended (including the Articles of Amendment), 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 by the Corporation. 
 From time-to-time and after the date hereof, the Corporation agrees that it will 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 Agreement. 

  
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 Section 5.6. Indemnification by the Corporation. 

Notwithstanding Section 5.3 to the contrary, the Corporation shall indemnify the Depositary, any Depositary’s Agent and any
Registrar (including each of their officers, directors, agents and employees) against, and hold each of them harmless from, any loss, damage, cost, penalty, liability or expense (including the reasonable costs and expenses of defending itself) which
may arise out of acts performed, taken or omitted to be taken in connection with this Agreement and the Receipts by the Depositary, any Registrar or any of their respective agents (including any Depositary’s Agent) and any transactions or
documents contemplated hereby, except for any liability arising out of negligence, willful misconduct or bad faith on the respective parts of any such person or persons. The obligations of the Corporation set forth in this Section 5.6 shall
survive any succession of any Depositary, Registrar or Depositary’s Agent. 
 Section 5.7. Fees,
Charges and Expenses. 
 The Corporation agrees promptly to pay the Depositary the compensation to be agreed upon with
the Corporation for all services rendered by the Depositary hereunder and to reimburse the Depositary for its reasonable out-of-pocket expenses (including reasonable counsel fees and expenses) incurred by the Depositary without negligence, willful
misconduct or bad faith on its part (or on the part of any agent or Depositary Agent) in connection with the services rendered by it (or such agent or Depositary Agent) hereunder. The Corporation shall pay all charges of the Depositary in connection
with the initial deposit of the Series E Preferred Stock and the initial issuance of the Depositary Shares, all withdrawals of shares of Series E Preferred Stock by owners of Depositary Shares, and any redemption or exchange of the Series E
Preferred Stock at the option of the Corporation. The Corporation shall pay all transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangements. All other transfer and other taxes and governmental
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 using the Ariba invoicing system (or using such other system or means of
presenting statements for charges and expenses as the Corporation and the Depositary may mutually agree from time to time hereafter). 
 ARTICLE VI 
 AMENDMENT AND TERMINATION 

Section 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 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
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Holders of Receipts representing in the aggregate at least a two-thirds majority 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 Depositary 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 Series E 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. 

Section 6.2. Termination. 
 This Agreement may be terminated by the Corporation or the Depositary only if (i) all outstanding Depositary Shares issued hereunder have been redeemed pursuant to Section 2.8, (ii) there
shall have been made a final distribution in respect of the Series E 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, (iii) upon the consent of Holders of Receipts representing in the aggregate not less than two-thirds of the Depositary Shares outstanding. or (iv) at any
time by any party upon a material breach of a representation, covenant or term of this Agreement by any other party which is not cured within a period not to exceed thirty (30) days after the date of written notice thereof by one of the other
parties. 
 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 and any Registrar under Sections 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 Section 5.3, 5.6, 7.4, 7.7 and 7.10 shall survive the termination of this Agreement. 

ARTICLE VII 

MISCELLANEOUS 
 Section 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. A signature to this Deposit Agreement transmitted electronically shall have the same authority, effect, and enforceability as an original signature. 

Section 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. 

  
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 Section 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. 

Section 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, overnight
delivery or by telegram or facsimile transmission or electronic mail, confirmed by letter, addressed to the Corporation at 

BB&T Corporation 
 200 West Second Street 
 Winston-Salem, North Carolina 

Attention: Treasurer 
 Facsimile No.: 336.733.2810 
 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, overnight delivery or by facsimile transmission confirmed by letter, addressed to the Depositary at the Depositary’s Office at 

Computershare Trust Company, N.A. 
 250 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. 
 Except as otherwise provided herein, 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, facsimile transmission or 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. Delivery of a notice sent by mail or by facsimile transmission as provided in the previous sentence 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) is deposited, postage prepaid, in a post office letter box; provided, that the Depositary or the Corporation may, however, act upon any facsimile transmission received by it from the other or from any Holder of a
Receipt, notwithstanding that such facsimile transmission shall not subsequently be confirmed by letter or as aforesaid. 

  
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 Section 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. 

Section 7.6. Appointment of Registrar, Dividend Disbursing Agent and Redemption Agent in Respect of the Series E
Preferred Stock. 
 Unless otherwise set forth on the Officer’s Certificate delivered pursuant to Section 2.2
hereof, the Corporation hereby appoints the Trust Company as registrar and redemption agent and Computershare as dividend disbursing agent in respect of the Series E Preferred Stock deposited with the Depositary hereunder, and the Trust Company and
Computershare hereby accept such appointments. With respect to the appointment of the Trust Company as registrar and redemption agent and Computershare as dividend disbursement agent in respect of the Series E Preferred Stock, the Trust Company and
Computershare, in their respective capacity under such appointment, shall be entitled to the same rights, indemnities, immunities and benefits as the Depositary hereunder as if explicitly named in each such provision. 

Section 7.7. Governing Law. 

This Deposit Agreement and the Receipts of each series 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. 
 Section 7.8. 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. 

Section 7.9. 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. 
 Section 7.10. 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, 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. 

  
 -20-

Table of Contents

 IN WITNESS WHEREOF, the Corporation and the Depositary have duly executed this Agreement as
of the day and year first above set forth. 
  

			
	BB&T CORPORATION
		
	By:	 	/s/ Hal S. Johnson        
		 	Name:    Hal S. Johnson
		 	 Title:      Executive Vice President and

Treasurer

  

			
	 COMPUTERSHARE INC. and
 COMPUTERSHARE TRUST
 COMPANY, N.A., acting jointly

		
	By:	 	/s/ Dennis V. Moccia        
		 	Name:    Dennis V. Moccia
		 	Title:      Manager, Contract Administration

 Signature Page to Deposit Agreement 

Table of Contents

 EXHIBIT A 
 FORM OF RECEIPT 
 Please see attached. 

  
 A-1

Table of Contents

  
 

 
 PO BOX 43004, Providence, RI 02940-3004 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2
ADD 3 ADD 4 CUSIP Holder ID Insurance Value Number of Shares DTC Certificate Numbers 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Total Transaction Num/No. 123456
Denom. 123456 Total 1234567 12345678 123456789012345 XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value 1,000,000.00 Number of Shares 123456 016570| 003590|127C|RESTRICTED||4|057-423 DEPOSITARY RECEIPT FOR DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH
OF ONE SHARE OF SERIES E NON-CUMULATIVE PERPETUAL PREFERRED STOCK OF BB&T CORPORATION DEPOSITARY RECEIPT FOR DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF ONE SHARE OF SERIES E NON-CUMULATIVE PERPETUAL PREFERRED STOCK OF BB&T CORPORATION
THIS CERTIFICATE IS TRANSFERABLE IN CANTON, MA AND JERSEY CITY, NJ SEE REVERSE FOR CERTAIN DEFINITIONS Certificate Number Shares . BB&T CORPORATION INCORPORATED UNDER THE LAWS OF THE STATE OF NORTH CAROLINA Unless this receipt is presented by an
authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to BB&T Corporation 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. ZQ 000000 * * 000000* * * * * * * * * 000000* * * * * * * * * 000000* * * * * * * * * 000000* * * * *
* * * * 000000* * COMPUTERSHARE TRUST COMPANY, N.A. and COMPUTERSHARE INC., acting jointly as Depositary (the “Depositary”), hereby certify that is the registered owner of DEPOSITARY SHARES (“Depositary Shares”), ** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample
**000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares***
*000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****
000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****0
00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****00
0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****000
000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****0000
00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****00000
0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****000000 **Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****
000000**Shares****000000**Shares****000000* *Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****000000**
Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****000000**S each Depositary Share representing one-thousandth of one share of Series E Non-Cumulative Perpetual
Preferred Stock, liquidation preference $25,000 per share, par value $5.00 per share (the “Series E Preferred Stock”), of BB&T Corporation, a North Carolina corporation (the “Corporation”), on deposit with the Depositary,
subject to the terms and entitled to the benefits of the Deposit Agreement dated as July 31, 2012 (the “Deposit Agreement”), between the Corporation and the Depositary. By accepting this Depositary Receipt, the holder hereof 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 signature of a duly authorized officer or, if executed in facsimile by the Depositary, countersigned by a Registrar in respect of the Depositary Receipts by the manual signature of a duly authorized officer thereof. SEE REVERSE FOR
CERTAIN DEFINITIONS DATED <<Month Day, Year>> COMPUTERSHARE TRUST COMPANY, N.A. and COMPUTERSHARE INC. acting jointly as Depositary CUSIP 054937 404 

Table of Contents

 

 
 BB&T CORPORATION BB&T CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH
RECEIPTHOLDER WHO SO REQUESTS A COPY OF THE DEPOSIT AGREEMENT AND A COPY OR SUMMARY OF THE ARTICLES OF AMENDMENT RELATING TO THE SERIES E NON-CUMULATIVE PERPETUAL PREFERRED STOCK OF BB&T CORPORATION. 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 INFORMATION REGARDING THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS
OF EACH CLASS OF STOCK OR SERIES THEREOF OF THE CORPORATION, THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS, DIFFERENCES IN RIGHTS, PREFERENCES AND LIMITATIONS BETWEEN SERIES TO THE EXTENT SET AND THE AUTHORITY OF
THE BOARD OF DIRECTORS TO SET SUCH DIFFERENCES FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE CORPORATION OR TO THE REGISTRAR. The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as
though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT - Custodian (Cust) (Minor) TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act
(State) JT TEN - as joint tenants with right of survivorship and not as tenants in common UNIF TRF MIN ACT - Custodian (until age ) (Cust) - under Uniform Transfers to Minors Act (Minor) (State) Additional abbreviations may also be used though not
in the above list. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE For value received, hereby sell, assign and transfer unto (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) shares of the
capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint Attorney to transfer the said stock on the books of the within named Corporation with full power of substitution in the premises. Dated: 20
Signature: Signature: Singature(s) Guaranteed: Medallion Guarantee Stamp 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 S.E.C. RULE 17Ad-15. Notice:  The signature to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement,
or any change whatever. The IRS requires that we report the cost basis of certain shares acquired after January 1, 2011. If your shares were covered by the legislation and you have sold or transferred the shares and requested a specific cost basis
calculation method, we have processed as requested. If you did not specify a cost basis calculation method, we have defaulted to the first in, first out (FIFO) method. Please visit our website or consult your tax advisor if you need additional
information about cost basis. If you do not keep in contact with us or do not have any activity in your account for the time periods specified by state law, your property could become subject to state unclaimed property laws and transferred to the
appropriate state. 
  

Table of Contents

 EXHIBIT B 
 FORM OF OFFICER’S CERTIFICATE 
 I, [name], [title] of BB&T
Corporation (the “Corporation”), hereby certify that pursuant to the terms of Articles of Amendment filed with the Secretary of State of the State of North Carolina on July 25, 2012 (the “Articles of Amendment”), and
pursuant to resolutions adopted at a meeting of the Board of Directors of the Corporation (the “Board”) on June 26, 2012, the Corporation has established the Series E Preferred Stock which the Corporation desires to deposit with the
Depositary for the purposes of being subject to the terms and conditions of the Deposit Agreement, dated as of July 31, 2012, by and between the Corporation, on the one hand, and Computershare Trust Company, N.A. and Computershare Inc., jointly
as Depositary, on the other hand (the “Deposit Agreement”). In connection therewith, the Board of Directors or a duly authorized committee thereof has authorized the terms and conditions with respect to the Series E Preferred Stock as
described in the Articles of Amendment attached as Annex A hereto. Any terms of the Series E Preferred Stock that are not so described in the Articles of Amendment and any terms of the Receipts representing such Series E Preferred Stock that are not
described in the Deposit Agreement are described below: 
 Aggregate Number of shares of Series E Preferred Stock issued on the day hereof:

 CUSIP Number for Receipt: 

Denomination of Depositary Share per share of Series E Preferred Stock (if different than 1/1000th of a share of Series E Preferred Stock): 

Redemption Provisions (if different than as set forth in the Deposit Agreement): 
 Name of Global Receipt Depositary: 
 Name of Registrar with Respect to the Receipts (if other than
Computershare Trust Company, N.A.): 
 Name of Registrar and Redemption Agent with Respect to the Series E Preferred Stock (if other than
Computershare Trust Company, N.A.): 
 Name of Dividend Disbursing Agent with Respect to the Series E Preferred Stock (if other than
Computershare Inc.) 
 Special terms and conditions: 
 Closing date: 
 All capitalized terms used but not defined herein shall have such
meaning as ascribed thereto in the Deposit Agreement. 
 Date: July 31, 2012. 

 

			
		
	By:  	 	 
		 	Name:
		 	Title:

  
 B-1Executive Employment Agreement

 Exhibit 10.1 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 July 30, 2012 

PERSONAL, PRIVATE AND CONFIDENTIAL 
 Liam
Kelly 
 [ADDRESS INTENTIONALLY DELETED] 
 TERMS AND CONDITIONS OF EMPLOYMENT 
 Dear Mr Kelly 

On behalf of Teleflex Medical Europe Limited (the “Company”), I am very pleased to confirm in writing the terms of your promotion and
employment with the Company which will have effect from June 22, 2012 (the “Effective Date”). Your date of commencement with the Company was 1 April 2009 and your continuous service is recognised. 

For the purposes of this agreement: 

“Affiliate” of any Person means any other Person that controls, is controlled by or is under common control with the first mentioned
Person. 
 “Group” means the Company and all Affiliates. 
 “Person” means an individual, a corporation or other entity or a government or governmental agency or institution, which may include a restricted competitor. 

“Relevant Business” means the business or businesses from time to time carried on by the Group limited to the activities with which the
Executive was materially concerned or involved in the course of his employment during the 12 month period prior to the Termination Date; 

“Restricted Area” the international territory in which you managed the Company’s business in the twelve months prior to the
Termination Date; 

 “Restricted Competitor” means CR Bard, Covidian, Coloplast, Astra Tech (div. of Dentsply),
Smiths Medical, Intersurgical, B. Braun, Vygon, Ambu, Pajunk, and / or CareFusion, or any merged, acquiring or successor entity of any one of these organisations, or any third party that may, between the commencement of this Agreement and the
Termination Date, acquire all or a substantial part of the assets or business of any one of these organisations. 
 “Severance
Agreement” means the Senior Executive Severance Agreement entered into between the Company and me on July 30, 2012. 

“Termination Date” means the date for which this Agreement is terminated by either party. 

 

	1.	Position 

 Your position
with the Company will be EVP and President International. 
  

	2.	Place Of Work 

 On account
of the travel commitment required in your role, you will be permitted to work from home at the above address. You agree that you will attend to work at the Company’s facilities currently located in Garrycastle Business & Technology
Park, Athlone, County Westmeath, or such other location within Ireland as the Company may decide when the requirements of your role reasonably demand and where your duties in each case cannot reasonably be performed from home. You acknowledge and
agree to travel within Ireland and abroad as reasonably required in carrying out your duties. You acknowledge in particular that by nature of your role and responsibility for all regions outside of the US, that this will require regular overseas
(including long haul) travel and trips of up to 14 consecutive days or more at a time. Further detail on this is provided in the job description in the Schedule. 
  

	3.	Hours Of Work 

 Normal
office hours are 39 hours per week, generally worked between 8.15 am and 5pm Monday to Thursday and 8.15 am to 4pm on Friday. However, given your position, there are no fixed hours of work. Your working hours will be such as may be requisite for the
proper discharge of your duties and you are required to be flexible in relation to your hours. You will not receive additional compensation for working outside normal working hours. You further acknowledge that by reason of your senior position and
as you determine your own working time, you are not covered by Part II of the Organisation of Working Time Act 1997. 
  

	4.	Reporting Structure 

 You
will report directly to the President and Chief Executive Officer of Teleflex Incorporated. Your reporting line may change to reflect changes in the Group’s business organisation in which event you will report to such other senior management
position in the Group as may be notified to you. 

  
 2 

	5.	Salary 

  

	5.1	Your base salary will be €300,000 gross per annum. This will be paid to you monthly in arrears, in accordance with the Company’s current practice, by credit
transfer directly to your bank account. 

  

	5.2	Your salary will be reviewed annually in accordance with the Group’s salary review policy without any entitlement to an increase. 

 

	5.3	You shall not be entitled to separate fees or remuneration in respect of any position you may hold as director or secretary of the Company or any Affiliate Company.

  

	5.4	The Company reserves the right to make deductions in respect of all sums from time to time owed by you to the Company or any Affiliate Company, from your pay or any
other amounts which may be due to you by the Company including but not limited to bonus payments, commission, allowances or expenses. After giving you written notice and by your agreeing to the terms and conditions set out in this agreement, you
consent to the deduction of such sums for the purposes of the Payment of Wages Act 1991. 

  

	6.	Target Bonus 

  

	6.1	You will be eligible to participate in such bonus scheme as the Company and the Group may implement from time to time for employees at your level which will be based on
the achievement of Company and / or Group and / or individual performance objectives as may be established by the Group in its sole discretion. The terms and conditions of such plan will be determined by the Group in its absolute discretion and you
are not guaranteed any specific amount of incentive compensation. Such scheme may be amended or terminated by the Group at any time and any eligibility to participate in this scheme is subject strictly to terms of this scheme as may be amended from
time to time. 

  

	6.2	Subject to any subsequent agreement with you, the payment of any bonus to you is subject to you being in the employment of the Company and there being no notice of
termination in effect on December 31 of the year for which the bonus payment is being made. 

  

	7.	Expenses 

 All properly
vouched and authorised expenses incurred by you on Company business will be reimbursed by the Company in accordance with the Group expense policy in effect from time to time. 

  
 3 

	8.	Holidays 

  

	8.1	Annual leave entitlement is 24 days. Further details can be found in our Employee Handbook. 

 

	8.2	The Company’s holiday year runs from 1 January to 31 December. Holidays from the previous year may not be carried over to the following year except with the
written consent of your direct supervisor. 

  

	8.3	Upon termination of your employment you will be entitled to salary in lieu of any outstanding holiday entitlement or be required to repay to the Company any salary
received in respect of holiday taken in excess of your holiday entitlement and the amount so due will be deducted from your final salary or other termination payment. 

 

	9.	Benefits 

  

	9.1	Pension 

 You will be entitled to
participate in the Company’s Defined Contribution Scheme (the “Scheme”) on the commencement of your employment. The Company will contribute a payment equivalent to 12% of your base salary into the Scheme on your behalf, subject
to you also contributing 5% of your base salary and the terms of the Scheme. Please refer to the Company’s current Pension Booklet. Whilst the Company intends to continue the operation of the Scheme indefinitely it must as a matter of ordinary
business prudence reserve its right to amend or terminate the Scheme at its discretion. 
 The normal
retirement date from the Company’s employment is your 65th birthday. If you opt to join the Scheme, your retirement benefits will become payable from this date. 
  

	9.2	Private Health Cover 

 You
continue to be eligible to receive fully subsidised health insurance for yourself and your dependants (Aviva Heathcare Cover — Healthmanager or equivalent), subject to completion of an application form. 

 

	9.3	Life Assurance 

 On the
commencement of your employment, you will be eligible for life assurance to the value of 4 times your annual base salary under the Company’s life assurance policy with Friends First and cover will be subject to completion of whatever forms and
provision of whatever information the Company and Friend First require. The cover will continue for as long as you are employed up to the retirement age of 65. 

  
 4 

	9.4	Permanent Health Insurance 

 You
will be eligible to participate in the Company permanent health insurance scheme, under which you may be eligible to receive two thirds of your annual salary (inclusive of Social Welfare benefit to which you may be entitled whether or not recovered
by you) if absent from work for a period of 26 weeks or more due to illness or injury, subject to clause 13. 
  

	9.5	Car Allowance 

 You will receive
a monthly car allowance of €1,500.00 (subject to the usual tax deductions). 
  

	9.6	Stock Incentive Plan 

 The
Company shall procure that you will become a Participant as defined in the Teleflex Incorporated 2008 Stock Incentive Plan on such terms as the Group Board may decide and provided always that you are permitted to be a Participant by the rules of the
Plan. 
  

	9.7	Change in Benefits 

 All benefits
will be subject to the terms and conditions of the benefit plan under which they are provided. The Company and / or Group reserve the right at all times to vary or discontinue any benefit plans (including any Company pension contributions) in which
you may be entitled to participate and / or to substitute new benefit plans for any plan in which you may be eligible to participate. Any Company and /or Group benefit plan which is insured will be subject to and conditional upon the terms and
conditions of the relevant policy of insurance. 
  

	9.8	Cessation of Benefits 

 All
benefits payable or otherwise made available to you under any Company or Group benefit plan(s) in which you may be entitled to participate from time to time shall automatically cease, as shall your eligibility to participate in such plan(s), upon
the termination of your employment for any reason whatsoever, save where otherwise expressly agreed. In the event of such termination, neither the Company nor the Group shall be under any obligation to replace the terminated or discontinued benefit
plan(s) and / or provide the same or similar benefits or compensation in lieu. 

  
 5 

	10.	Duties 

  

	10.1	During the course of your employment it may be necessary to expand or raise your job duties, within the general scope of your position, or change your function within
the Company or the Group. The Company reserves the right to change your function and / or assign other or take away certain job duties to you at any time, it being understood that you will not be assigned duties which you cannot reasonably perform.

  

	10.2	You will carry out the duties assigned to you from time to time by the Company and / or Group for the Company and Group. Please see the attached Schedule for a list
(non-exhaustive) of your key responsibilities / duties. Your area of work and / or specific responsibilities may be altered from time to time by the Company and / or Group as the needs of the business dictate. 

 

	10.3	You agree that at all times during your employment with the Company you will: 

 

	 	(i)	devote the whole of your working time to the duties assigned to you; 

  

	 	(ii)	faithfully and diligently serve the Company and Group; 

  

	 	(iii)	act only in such a way as to promote and protect the interests of the Company and Group; 

 

	 	(iv)	obey all reasonable and lawful directions given to you by the President and Chief Executive Officer of Teleflex Incorporated and/or any other senior manager(s) to whom
you are assigned to report; 

  

	 	(v)	report on a timely basis to the President and Chief Executive Officer of Teleflex Incorporated, and/or any other senior manager(s) to whom you are assigned to report,
on any matters concerning the affairs of the Company or any Affiliate as is reasonably required; and 

  

	 	(vi)	comply with such policies and procedures as apply to employees of the Company and Group generally. 

 

	 	(vii)	take any such office as a director in any other Affiliate as requested. 

  

	10.4	You shall use your best endeavours to promote the interests, business and welfare of the Company and Group and shall not, without first obtaining the consent of the
Company in writing, either solely or jointly with or as director or manager or agent of any other person or persons, firm or corporation or in any other capacity directly or indirectly carry on or be engaged or (save as the holder or beneficial
owner for investment purposes of not more than 1% in nominal value of any class of securities of any company quoted on any recognised public stock market) be concerned or interested whether as an employee, consultant, officer or representative in
any trade, business or occupation other than that of the Group. 

  
 6 

	10.5	Your office as a director of the Company or any Affiliate is subject to the Articles of Association of the relevant company (as amended from time to time). If the
provisions of this Agreement conflict with the provisions of the Articles of Association, the Articles of Association will prevail. 

  

	10.6	The termination of any directorship or other office held by you, by the Company or Affiliate will not terminate your employment or amount to a breach of terms of this
agreement. 

  

	10.7	You must not resign your office as a director of the Company or any Affiliate without the agreement of the Company or the Affiliate Company. 

 

	11.	Termination with notice 

  

	11.1	Your employment hereunder may be terminated at any time by one party giving the other three months’ notice in writing. 

 

	11.2	Where notice of termination of your employment is given, whether by you or the Company, the Company will have the right to: 

 

	 	(i)	pay you in lieu of notice (or the remaining balance) the amount of your entitlement to basic salary, prorated car allowance, medical insurance and life assurance in
respect of such notice period; or 

  

	 	(ii)	require you to cease performing or exercising during some or all of the remainder of any notice period some or all of the powers, authorities and discretions delegated
to you in your employment and / or to cease attending your place of work and / or to cease contact with the Company’s or Group’s employees and customers in relation to Group related business matters, during such period, any such period to
be referred to hereinafter as a “Garden Leave Period”. During a Garden Leave Period, you will remain subject to the provisions of this agreement and to your obligation of fidelity to the Company and Group, and you will continue to receive
your basic salary, prorated car allowance, medical insurance and life assurance. However, subject to any post termination obligations that may apply, you will be free to seek new employment to commence following the termination of the Garden Leave
Period. 

  

	 	(iii)	 In the event that notice of termination has been given by either you or the Company, provided always that the Company shall continue to pay your basic
salary, prorated car allowance, medical insurance and life assurance until your employment terminates, the Company may in its absolute discretion without 

  
 7 

	 	
breaking the terms of your contract of employment or giving rise to any claim against the Company and / or Group for all or part of your notice period: 

a) exclude you from the premises of the Company and / or Group; 
 b) require you to carry out specified duties for the Company and / or Group or to carry out no duties; 
 c) announce to employees, suppliers and customers that you have been given notice of termination or have resigned (as the case may be); 

d) instruct you not to communicate orally or in writing with suppliers, customers, employees, agents or representatives of the Company and
/ or Group until your employment has terminated. 
 For the avoidance of doubt, your duties and obligations under this contract
continue to apply during any period of exclusion. 
  

	12.	Termination without notice 

Your employment may be terminated with or without prior notice if any time you: 

 

	12.1	are guilty of any gross misconduct, gross default or wilful neglect in the discharge of your duties of your employment or in connection with or affecting the business
of the Company and / or Group; 

  

	12.2	are guilty of any material breach or material non-observance or persistent breaches or non-observances of the provisions contained in this agreement;

  

	12.3	commit any serious act of dishonesty or repeated acts of dishonesty; 

  

	12.4	become subject to the provisions concerning disqualification or restriction contained in Part VII of the Companies Act, 1990 or any similar legislation in any other
jurisdiction; 

  

	12.5	are convicted of any offence (other than minor traffic offences) or any other offence which in the opinion of the Company affects your position with / and or the
reputation of the Company and /or Group; or 

  

	12.6	are guilty of any material or repeated breach of any Company and / or Group policy or procedure. 

 

	13.	Illness 

  

	13.1	If you are at any time prevented by illness, injury, accident or any other circumstances from discharging all your duties for a period of three consecutive days, then a
satisfactory certificate will be required from your doctor in respect of such absence. 

  
 8 

	13.3	Company sick pay is provided for under the Company’s Illness Salary Protection Plan. It is paid entirely at the Company’s discretion and subject to your
compliance with the Company’s Absence/Sick pay policy and procedures. Where sick pay is paid, it will be calculated by reference to your basic salary less any Social Welfare payments which you are eligible to receive, whether or not actually
recovered by you. 

  

	13.4	Notwithstanding the provision of permanent health insurance under clause 9.4, if you are at any time prevented by illness, injury, accident or any other circumstances
beyond your control from discharging all your duties hereunder for an aggregate or consecutive total of 180 or more days in any 12-month period, the Company may terminate your employment upon service of such minimum notice as is required under
statute. 

  

	13.5	In the event of your absence from work or inability to perform the duties of your position due to illness or accident, the Company reserves the right to refer you for
medical examination to a medical practitioner nominated and paid for by the Company. The Company shall be entitled to receive full details of any such medical examinations, and to disclose them to its professional advisors. 

 

	14.	Disciplinary and Grievance rules and procedure 

  

	14.1	You will conduct yourself with propriety at all times and with due regard for the Company and each of its Affiliates and the clients and employees of each such company.

  

	14.2	The Company has no formal disciplinary policy in place for employees in your position and will deal with disciplinary matters in a manner considered by the Company to
be appropriate in the particular circumstances, using the standard Company disciplinary procedure, revised as appropriate. In the event of perceived misconduct, you may be suspended forthwith in order to consider and investigate the allegation and
decide what action or procedure would be appropriate to adopt. Your normal remuneration will be paid to you during any suspension. In all disciplinary matters you will be presented in writing with the totality of the allegations outstanding against
you, will be given the right to respond, will have the opportunity to be represented at any disciplinary hearing by a colleague and will have a right of appeal against any disciplinary action taken. 

 

	14.3	If you have a grievance relating to your employment, you should raise the matter in writing with the Chief Administrative Officer of the Group. If you are dissatisfied
with the outcome, you may appeal the decision in writing to the President and Chief Executive Officer whose decision shall be final. If it is inappropriate to address it to the Chief Administrative Officer, you may raise it with the President and
Chief Executive Officer in the first instance. 

  
 9 

	15.	Confidentiality 

  

	15.1	You will not except as authorised or required by your duties reveal to any person, persons or company any information of a confidential or proprietary nature, including
any trade secrets, secret or confidential operations, processes or dealings or any information concerning the organisation, business, finances, transactions or affairs of the Company, its Affiliates or their existing or potential customers which may
come to your knowledge during the period of your employment with the Company (“Confidential Information”). You will keep all Confidential Information entrusted to you completely secret and will not use or attempt to use any
Confidential Information in any manner which may injure or cause loss either directly or indirectly to the Company or any of its Affiliates or their existing or potential customers or its or their business or businesses, or may be likely so to do.
This restriction will continue to apply after the termination of your employment without limit in point of time but will cease to apply to information or knowledge which may reasonably be said to have come into the public domain other than by reason
of breach of the provisions of this agreement. 

  

	15.2	You will not during the term of your employment with the Company make otherwise than for the benefit of the Company or any Affiliate any notes or memoranda relating to
any matter within the scope of the business of the Company, its Affiliates or their existing or potential customers or concerning any of the dealings or affairs of any such company nor will you either during the term of your employment with the
Company or afterwards use or permit to be used any such notes or memoranda otherwise than for the benefit of the Company or any Affiliate Company, it being the intention of the parties that all such notes or memoranda made by you will be the
property of the Company and left at its offices upon the termination of your employment with the Company. 

  

	16	Proprietary rights 

  

	16.1	In this clause 16 “IP” means all intellectual property rights of whatever nature, including inventions (whether patentable or not and whether or not patent
protection has been applied for or granted), developments and improvement upon or additions to an invention, patents, copyright and related rights (including computer software and preparatory and design materials therefore), moral rights, trade
marks and service marks whether registered or unregistered, business names, logos, art work, slogans, processes, registered and unregistered designs (whether or not design rights subsist in them) and database rights, know-how, confidential
information and trade secrets and all rights or forms of protection of a similar nature and all applications or entitlement to apply for any of the foregoing which may exist anywhere in the world. 

 

	16.2	 You acknowledge and agree that if at any time in the course of, or in connection with, your employment under this Agreement, whether or not during
normal working 

  
 10 

	 	
hours or at the premises or using facilities of the Company or an Affiliate or otherwise, you create or discover or participate in the creation or discovery of any IP directly or indirectly
relating to, or capable of being used in, the business carried on by the Company or by any Affiliate Company, full details of the IP will immediately be disclosed in writing by you to the Company and the IP will be the absolute property of the
Company (or a nominee of the Company where the Company requires) immediately upon the creation of such IP. 

  

	16.3	If and whenever required so to do (whether during or after the termination of your employment) you will without charge and at the expense of the Company or its nominee
undertake to give and supply all such information, data, drawings and assistance as may be necessary or in the opinion of the Company desirable to enable the Company to exploit the IP and you undertake to apply or join in applying for agreements
patent or other form of protection for any IP referred to in this clause 17 and execute all instruments and do all things considered necessary in the absolute discretion of the Company in relation to the said IP including vesting all right and title
to such IP when obtained in the Company (or its nominee) as sole beneficial owner, or in such other person as the Company may require. 

  

	16.4	To the extent that ownership of the IP does not automatically vest in the Company as a consequence of your employment, you agree to assign to the Company to the fullest
extent permitted by law with full title guarantee and with effect from its creation, all future IP created or discovered by you during the course of your employment whether during the normal hours of work of the Company or otherwise or at the
premises or using the facilities of the Company or an Affiliate or otherwise. 

  

	16.5	You irrevocably appoint the Company to be your attorney in your name and on your behalf to execute and do any such instruments or things and generally to use your name
for the purpose of giving to the Company (or its nominee) the full benefit of the provisions of the clause 16. A certificate in writing signed by any executive or the Secretary of the Company that any instrument or act falls within the authority
conferred in this clause 16.5 will be conclusive evidence that such is the case in favour of a third party. 

  

	16.6	To the extent that you cannot assign any IP to the Company (or its nominee), it is agreed that any such right (including, where applicable, any moral right such as a
right of paternity or integrity) will be waived as against the Company. You may not under any circumstances exercise any IP against the Company or any of its Affiliates or any nominee of any of them. 

 

	16.7	 By signing this contract you acknowledge for the avoidance of doubt that any discovery, invention, process or improvement in procedure made or
discovered by you, any IP rights in any material created by you and any preparatory or specification documents and materials created by you in the course of your employment with or engagement by the Company during the period prior to the date

  
 11 

	 	
of this agreement, is (and has been from the beginning) to the fullest extent permitted by law the property of and vests solely and absolutely in the Company and that you shall disclose such
immediately to the Company to the extent not already explicitly disclosed to the Company. You also acknowledge that any rights of action which have accrued or will accrue vest solely and absolutely in the Company. You agree that at no time will you
attempt to assert any rights or make any claim in respect of any such IP rights against the Company or its licensees or successors in title. 

  

	17.	Restrictive Covenants. 

  

	17.1	You acknowledge: 

  

	 	(a)	that the Group is in a unique and highly specialised business; 

  

	 	(b)	that the Group’s market is international in scope with a limited number of competitors; 

 

	 	(c)	that the Group possess a valuable body of Confidential Information; 

  

	 	(d)	that the Group will give you access to Confidential Information in order to carry out your duties; 

 

	 	(e)	that your duties include, without limitation, a duty of trust and confidence and a duty to act at all times in the best interests of the Group;

  

	 	(f)	that your knowledge of Confidential Information directly benefits you by enabling you to perform your duties; 

 

	 	(g)	that unless required for the performance of your duties the disclosure of any Confidential Information to any actual or potential competitor of the Group will place the
Group at a serious competitive disadvantage and would cause immeasurable (financial and other) damage to the Relevant Business; 

  

	 	(h)	that if, on leaving the employment of the Company, you were to hold any position in any actual or potential competitor to the Relevant Business, it could place the
Group at a serious competitive disadvantage and would cause immeasurable (financial and other) damage to the Relevant Business. 

  

	17.2	Competition and Non-Solicitation 

During the continuance of this Agreement and for a period of 12 months (such period to be reduced by such period spent on garden leave)
from the Termination Date, whether terminated by the Company or by you, you shall not within the Restricted Area, without the prior written consent of the Company; 

  
 12 

	 	(a)	directly or indirectly in any capacity either on your own behalf or in conjunction with or on behalf of any other Person; 

 

	 	(i)	be engaged, concerned or interested in any capacity either on your own behalf or in conjunction with or on behalf of any other Person in the Relevant Business or in any
business wholly or partly in competition with the Relevant Business; 

  

	 	(ii)	solicit or entice or endeavour to solicit or entice away from the Company or any Affiliate or employ any Person who was employed in a senior executive, supervisory,
technical, sales or administrative capacity by the Company or any Affiliate, at any time during the 12 months preceding the Termination Date; 

  

	 	(iii)	directly or indirectly call on or solicit for the purpose of diverting or taking away from the Company or any Affiliate (including, by divulging any Confidential
Information to any competitor or potential competitor of the Company or any Affiliate) any Person who is at the Termination Date, or at any time during the twelve (12) month period prior to the Termination Date had been, a material or regular
customer of the Company or any Affiliate with whom you had direct personal contact as a representative of the Company or any Affiliate, or a potential material or regular customer whose identity is known to you at the Termination Date as one whom
the Company or any Affiliate was actively soliciting as a potential customer within six (6) months prior to the Temrination Date; 

  

	 	(iv)	interfere or seek to interfere or take steps as may interfere with the continuance of supplies to the Company or any Affiliate (or the terms relating to such supplies)
from any Persons who are or who have been supplying components, materials, goods or services to the Company or to any Affiliate at any time during the 12 month period immediately preceding Termination Date; or 

 

	 	(v)	be engaged, concerned or interested in any Person who is or was at any time during the period of 12 months immediately preceding the Termination Date a significant or
regular customer of or supplier to the Company or any Affiliate , or who is or had been during the said 12 month period negotiating with the Company for the supply of a significant volume of services or goods, if such engagement, concern or interest
causes or would cause the supplier or customer to cease or materially to reduce its orders or contracts with, or the volume of goods and services received from the Company or any Affiliate. 

  
 13 

	17.3	You acknowledge and agree as follows: 

  

	 	(i)	that the restrictions set out in clause 17.2(a)(i) apply in the Restricted Area to Restricted Competitors only; and 

 

	 	(ii)	that the list of Restricted Competitors does not represent the entirety of the market in which the Group and you are engaged, and excludes a number of significant
multinational businesses covering the markets that you are responsible for on behalf of the Company and Group, and as such, the restrictions set out in this clause 17 do not in any way impact on your ability to obtain employment outside of the
Company or Group. 

  

	17.4	You agree that if during the continuance in force of the restrictions set out in this clause 17, you receive an offer of employment from any person, you will
immediately provide that person with a complete and accurate copy of this clause 17. 

  

	17.5	You acknowledge that while it is the intention of the parties to this Agreement that the restrictions set out in this clause 17 are no greater than is necessary for the
protection of the interests of the Company and any Affiliate, nevertheless in the event that any of the said restrictions be adjudged to be invalid or unenforceable by any court of competent jurisdiction but would be adjudged fair and reasonable if
any part of the wording thereof were amended, modified, deleted or reduced in scope, then this clause 17 shall apply with such amendments, modifications, deletions and reductions in scope as may be necessary to make them valid and effective.

  

	17.6	Nothing contained in this clause 17 shall act to prevent you from using generic skills learnt while employed by the Company in any business or activity which is not in
competition with the Company or Group. 

  

	17.7	You acknowledge that you may be subject to a separate but identical restriction in the Severance Agreement, which shall run in parallel with the restriction contained
in this Agreement and accept that in the event that the restriction contained in the Severance Agreement does not apply to you, or is deemed by a court of competent jurisdiction not to apply to you, that the restrictions contained in this Agreement
shall continue to apply. 

  

	17.8	Return of Company and Group Property. 

 Upon Termination of Employment you will deliver to the person designated by the Company all originals and copies of all documents and property of the Company and / or Group in your possession, under your
control, or to which you may have access. You will not reproduce or appropriate for your own use, or for the use of others, any Confidential Information. 

  
 14 

	18	Resignation from offices / Return of property on termination 

  

	18.1	On termination of your employment, you will resign from all directorships and other offices that you hold by reason of your employment with the Company and / or Group.
If you fail to do so within seven days, the Company and / or Group is hereby irrevocably authorised to appoint some person as attorney in your name and on your behalf to sign documents or do any things necessary to give effect to the provisions of
this clause. 

  

	18.2	On termination of your employment or at any time if so requested by the Company whether or not a formal written request is made, you will return to the Company all
items of property in your possession which are the property of the Company and / or Group including, but not limited to, all correspondence, documents, specifications, papers, customer lists, lists of business contacts, diskettes and other storage
media, drawings, sketches, prints, notebooks, reports and data which are the property of the Company and /or Group. 

  

	19.	Retirement 

 Your normal
retirement age is your sixty-fifth birthday. 
  

	20.	Severability 

 In the
event that any condition in this agreement is held to be void in whole or in part for any reason, such unenforceability will not affect the enforceability of the remaining conditions contained in this agreement and such void conditions will be
deemed to be severable. 
  

	21.	Data processing 

  

	21.1	The Company and / or Group will hold computer records and personnel files relating to you. These will include your employment application, references, bank details,
performance appraisals, holiday records, salary reviews and remuneration details, employee share scheme participation (if applicable) and other records. The Company requires such personal data for personnel, administration and management purposes
and to comply with its obligations regarding the keeping of employee/worker records. You hereby agree and consent that the Company and / or Group may, when necessary for those purposes, make such data available to its advisors, to parties providing
products and / or services to the Company and / or Group (including, without limitation, IT systems suppliers, pension, benefits and payroll administrators), to regulatory authorities (including the Revenue Commissioners), to any potential
purchasers of the Company or its business (on a confidential basis) and as required by law. 

  
 15 

	22.2	Certain personal data is classified as “sensitive personal data”. This is personal data relating to a person’s racial or ethnic origin, political
opinions, religious or philosophical beliefs, trade union membership, physical or mental health, sexual life, criminal convictions or the alleged commission of an offence, and proceedings for an offence committed or alleged to have been committed.
Sensitive personal data may include records or sickness absence, medical certificates and medical reports. The purpose of processing this type of information is to administer sick pay and to monitor and manage sickness absence and to comply with
health and safety legislation and other legal obligations. If sensitive personal data relating to you is being processed for reasons otherwise than those set out above or as permitted under the Data Protection Acts, your explicit consent will be
sought. 

  

	22.2	By agreeing to the terms and conditions set out in this agreement, you hereby agree and consent that the Company may process personal data relating to you for the
purposes set out above. 

  

	23.	Use of IT equipment 

  

	23.1	You acknowledge that the Company and / or Group may legitimately monitor any communications sent or received by you either in the performance of your duties or by way
of the Company’s and / or Group’s networks and consent to such monitoring for the purposes of: 

  

	 	(i)	ensuring proper working order of the IT systems; 

  

	 	(ii)	ensuring that employees comply with the Company’s and / or Group’s practices and procedures; 

 

	 	(iii)	investigating misconduct; 

  

	 	(iv)	preventing or detecting crime; and 

  

	 	(v)	investigating or detecting the unauthorised use of the Company’s and / or Group’s IT systems. 

For the purposes of this clause 23: 
 “monitoring” means the checking, recording and reviewing of telephone calls, computer files, records and emails, and the undertaking of any other compliance, security or risk analysis
checks the Group reasonably considers necessary; and 
 “networks” includes the Group’s telephone,
voicemail system and the Group’s email, internet and intranet networks. 

  
 16 

	23.2	You undertake, at all times, to comply with all conditions of use which may from time to time be imposed by the Company and / or Group with regard to the use of the
equipment networks and systems provided by the Group including without limitation the Group’s internet, intranet and email policy. 

  

	24.	Changes 

 The Company may
make reasonable changes to your terms and conditions of employment as the needs of the business dictate. You will be given notice of such changes. Material changes will be subject to your consent. 

 

	25.	Reconstruction or Amalgamation 

 If your employment under this agreement is terminated by reason of the liquidation of the Company for the purpose of reorganisation, reconstruction or amalgamation and you are offered a contract of
employment with any concern or undertaking resulting from the reconstruction or amalgamation on terms and conditions not less favourable than the terms of this agreement, then you shall have no claim against the Company and / or Group in respect of
the termination of this agreement. 
  

	26.	Counterparts 

  

	26.1	This agreement may be executed in counterparts by each of the parties and any single counterpart or set of counterparts signed in either case by both of the parties
shall be deemed to constitute a full and original contract for all purposes. 

  

	27.	Governing law 

 This
agreement shall be governed by and construed in accordance with the laws of Ireland and the Courts of Ireland shall have the exclusive jurisdiction in relation to all matters related therein. 

 

	28.	Miscellaneous provisions 

  

	28.1	Any notice under this agreement will be given in writing and will be deemed to have been duly given if delivered personally to the addressee or the duly authorised
agent of the addressee or sent by prepaid registered post to the last known address of the party to whom such notice is given. Any such notice will be deemed to have been duly given at the time of delivery if delivered personally, or two working
days after posting if sent by prepaid registered post. 

  

	28.2	This agreement is in substitution for all previous agreements and undertakings (if any) either written or verbal between the Group and you regarding your employment,
and all such agreements and undertakings will be deemed to have been terminated by mutual consent as from the date of your execution of this agreement. 

  
 17 

 If you choose to accept the terms and conditions of employment set out in this agreement, please sign the
enclosed copy of the agreement and return it to me. 
 Yours sincerely 

 

	
	
	/s/ Gerard McCaffrey
	 Duly authorised for an on behalf of
 Teleflex Medical Europe Limited

  
 18 

 EXECUTIVE ACKNOWLEDGEMENT 
 I accept the terms and conditions of employment as set out in the Company’s agreement dated July 30, 2012 of which this is a copy. 
 I further confirm that I am not accepting these terms and conditions in reliance on any representation or warranty not set out in this agreement. 

 

			
	Signed:	 	/s/ Liam Kelly
		 	Liam Kelly
		
	Dated:	 	July 30, 2012

  
 19

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